In a significant move to strengthen trade ties across Africa, Nigeria has launched a new air corridor under the African Continental Free Trade Area (AfCFTA) agreement, linking exporters directly to Kenya, Uganda, and South Africa. The announcement was made by the Minister of Industry, Trade and Investment, Dr. Jumoke
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The eThekwini Municipality plans to borrow R1.5 billion to fund capital projects in the upcoming 2024/2025 financial year — a move that’s drawing concern from opposition parties and residents alike. Municipal officials presented the borrowing proposal during an Executive Committee (Exco) meeting on Friday, noting that the loan would
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A former Standard Bank financial planner has been permanently barred from working in the financial sector after using client relationships to borrow more than R28,000. Thapelo Jan Baloyi was hired as an independent contractor in October 2022, operating from the bank’s Secunda branch in Mpumalanga. But in July 2024,
Nigeria has officially approved China’s plans to establish electric vehicle (EV) factories in the country, marking a significant step in industrial and economic collaboration between the two nations. During a courtesy visit to the Minister of Solid Minerals Development, Dr. Dele Alake, the Chinese Ambassador to Nigeria, Yu Dunhai,
Nigeria has attracted over $8 billion in investments for deepwater and gas projects within the past year, thanks to major reforms by the federal government aimed at revitalizing the energy sector. This was revealed by Olu Verheijen, Special Adviser to President Bola Tinubu on Energy, during the 2025 Africa
A group of concerned civil society organisations has sounded the alarm on Nigeria’s growing financial crisis, revealing that the country loses more than $18 billion every year to illicit financial flows—while over 70% of its revenue goes into servicing debt. This troubling revelation is part of a newly released
Cocoa prices have surged, recently settling at $9,187 per ton on the New York Commodity Exchange, and Nigeria is positioning itself to benefit. In a bold move to reduce its reliance on crude oil revenues, the country is turning its focus to cocoa, one of its key agricultural exports.
The Lagos Chamber of Commerce and Industry (LCCI) has emphasized that the success of the Federal Government’s ‘Nigeria First’ policy hinges on bold, consistent, and coordinated implementation. According to Dr. Chinyere Almona, Director General of LCCI, the policy—soon to be formalized through an executive order—requires Nigeria to be prioritized
