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Tag: Nigeria

Business

Nigeria, US exports help ease global jet fuel shortage

Fears of a jet fuel shortage ahead of the peak summer travel season have eased as increased refinery output and stronger exports from countries such as Nigeria help stabilize global aviation fuel supplies. According to the International Energy Agency in its June 17, 2026 report, higher production from refineries in the United States and Europe, […]

featured

Nigeria can no longer rely on borrowing for development – Oyedele

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, on Tuesday said Nigeria can no longer depend primarily on borrowing to finance its development needs, stressing the urgency of building a sustainable fiscal system to support key sectors of the economy. Oyedele made the remarks while addressing participants at the 28th Annual […]

Business

Nigeria, UK sign deportation agreement for failed asylum seekers, convicted criminals

Nigeria has entered into a new agreement with the United Kingdom that will enable Britain to deport thousands of failed asylum seekers and convicted criminals to the West African nation. The deal was signed by Interior Minister Olubunmi Tunji-Ojo and Home Secretary Shabana Mahmood during President Bola Tinubu’s state visit to the UK, the Home […]

Business

Nigeria wins as tribunal dismisses UK tech firm’s $6.2m arbitration

An international tribunal has dismissed a $6.2 million claim filed by European Dynamics UK Ltd against Nigeria over a national e-Procurement project. The decision was announced in a press release issued on February 22, 2026, by Kamarudeen Ogundele, Special Assistant to the President on Communication and Publicity in the Office of the Attorney General of […]

Business

Nigeria considers law bill to regulate AI

Nigeria is poised to enact legislation that would make it one of the first African countries to formally regulate artificial intelligence, strengthening oversight of a rapidly expanding digital market that has seen years of minimal control as global technology firms grew their presence. The proposed National Digital Economy and E-Governance Bill would grant regulators broader […]

Air cargo demand rises by 18.4% January - IATA
Aviation

Nigeria’s local airline capacity falls to 850,420 seats in December

Nigeria’s domestic airline market saw a contraction in December 2025, as total available seat capacity fell to 850,420. Data from OAG’s Africa’s Aviation Market Monthly Airline Data Updates for December 2025 show airline capacity across major African markets, including Nigeria. The figures indicate a 7.5 per cent year-on-year drop, underscoring a slowdown in activity within […]

Nigeria’s non-oil exports rise to $1.79bn in Q1 2025 – NEPC
Business

Nigeria’s exports to Africa surge to N4.9 trillion

Nigeria’s exports to Africa in the third quarter of 2025 jumped 97.16 per cent year-on-year to N4.9 trillion, reflecting a strategic shift toward emerging markets, particularly intra-African trade and the BRICS bloc, according to stakeholders. Data from the National Bureau of Statistics showed that Nigerian goods exported to African countries rose to N4.9 trillion in […]

Business

Nigeria-South Africa chamber marks silver jubilee with Lagos gala

The Nigeria-South Africa Chamber of Commerce marked its 25th anniversary with a gala dinner in Lagos, bringing together corporate leaders, diplomats, and government officials to celebrate 25 years of strong economic ties. The milestone event, themed “Building Together,” highlighted the enduring partnership and growing economic collaboration between Africa’s two largest economies, the statement said on […]

Electricity

Nigeria joins unified West African electricity grid

The Nigerian Independent System Operator, in partnership with the West African Power Pool Information and Coordination Centre, has successfully synchronised Nigeria’s national electricity grid with the wider West African power network. The landmark test — conducted between 5:04 a.m. and 9:04 a.m. on Saturday, November 8, 2025 — linked Nigeria, Niger Republic, and parts of […]

Manufacturing sector to benefit most from 5G - GSMA
Telecommunications

5G adoption soars in Nigeria amid infrastructure shortfall – Report

Nigeria is witnessing a rapid surge in the uptake of 5G-enabled smartphones, even as the network infrastructure required to support high-speed connectivity remains insufficient, according to a new industry report. Consumers in major cities including Lagos, Abuja, and Port Harcourt are increasingly purchasing 5G-capable devices, driven by wider availability and competitive pricing. Global forecasts also […]

Business

Nigeria reports 21% drop in oil revenue for Q4 2024

The Federation’s Budget Office reported that the federal government earned N3.34 billion in net oil revenue in the fourth quarter of 2024. According to its Q4 2024 budget implementation report, this amount fell 21 per cent short of the quarterly budget estimate of N4.24 billion. “The actual Net Oil Revenue that accrued into the Federation […]

South Africa to alter taxation laws for remote workers
Business

Nigeria, S’Africa strengthen economic ties at Lagos ministerial roundtable

Nigeria and South Africa have reaffirmed their commitment to strengthening bilateral economic ties during the Ministerial Business Roundtable in Lagos, where leaders from both countries discussed concrete strategies to enhance trade, investment, and industrial development across Africa. The meeting was held on Thursday, at the Rooftop Event Centre, MTN Plaza, Ikoyi, and brought together senior […]

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