Author: Ogochukwu Ndubuisi

German Economy Minister Criticises U.S. Tariff Policy Outgoing German Economy Minister Robert Habeck criticised U.S. President Donald Trump’s tariff policy on Monday, calling the idea behind it as “fundamentally wrong.” Habeck argued that the assumption that trade surpluses or deficits were problematic is “wrong,” as he arrived at an emergency meeting of European Union trade ministers in Luxembourg. Starting Wednesday, imports from EU countries to the U.S. will face new tariffs of 20 per cent. “In the end, globalisation serves all economies,” Habeck said, noting that the U.S. economy has outpaced European economies in growth over the last 20 years.…

Shettima Highlights Nigeria’s Transformational Vision Vice-President Kashim Shettima has said that President Bola Tinubu’s bold vision and pragmatic leadership will transform Nigeria into a more vibrant country in the near future. A statement from Shettima’s spokesperson, Mr Stanley Nkwocha, issued on Sunday, revealed that the Vice-President made this comment during a meeting with ‘Big Win Philanthropy.’ The delegation, led by Chief Executive Officer Jamie Cooper, visited the Presidential Villa in Abuja for a courtesy call. Shettima highlighted the administration’s investments in healthcare, education, and other key sectors, which would drive Nigeria’s transformation. “In a few years, I see a more…

CBN Defends Naira with $669 Million in Q1-2025 The Central Bank of Nigeria (CBN) defended the naira from losing significant strength in the foreign exchange market with about $669 million FX intervention in the first three month of 2025, a report from investment firm AIICO Capital Limited revealed. The apex bank went ballistic with FX intervention throughout the first quarter of 2025 due to lower US dollar accretions and rising offshore demand for forex. To stem the negative tide in the parallel market, the CBN also directed Bureau de Change (BDCs) operators to purchase $25,000 from authorised dealer banks at…

Nigeria Acknowledges 14% Tariff Imposed on Exports by U.S The Federal Government of Nigeria has acknowledged the recent tariff measures announced by the U.S. Government, including imposing a 14 percent tariff on Nigerian exports. This is contained in a statement signed by Dr Jumoke Oduwole, Minister of Industry, Trade, and Investment, on Sunday in Abuja. U.S. President Donald Trump announced that exports from Nigeria to the U.S. will now be subjected to a 14 percent tariff. The decision was made during a ‘Make America Wealthy Again’ event in the Rose Garden on Wednesday. It is part of a broader strategy…

Ogun Partners Terra Kulture to Establish Film, Entertainment Village Ogun partners Terra Kulture to establish film, entertainment village. The Ogun Governor, Dapo Abiodun, has said the state will collaborate with Terra Kulture to establish a film and entertainment village in the state. Abiodun said this when he received the Chief Executive Officer (CEO) of Terra Kulture, Bolanle Austen- Peters, in Abeokuta, on Saturday. He stated that the Ogun would be more than happy to invest in the project. According to the governor, the film village will help the state to preserve the legacies of its pioneers, who excelled in the…

Anambra 2025: Soludo Wins APGA Governorship Ticket Gov. Chukwuma Soludo on Saturday won the All Progressives Grand Alliance (APGA) governorship primary in Anambra. Soludo was declared winner at the primary held at Dr Alex Ekwueme Square, Awka, amidst tight security and under the watch of the officials of Independent National Electoral Commission (INEC). The governor, who vying for a second term, polled 3,171 votes from the 3,175 accredited delegates across the 326 political wards on the state.He was confirmed with a ‘yes’ or ‘no’ vote in the primary election. While presenting the party’s nomination certificate to the governor, Chairman of…

Money Market Rates Decline as Liquidity Surplus Hits N1.53trn Money market rates dipped further as liquidity balance in the financial system soared above N1.5 trillion. The liquidity level stay strong in the absence of outflows as neither Debt Management Office, nor the Central Bank of Nigeria auctioned borrowing instruments in the week. With the absence of outflows relation to cash reserve maintenance, and primary market activities, deposit money banks were excused from significant demand for liquidity to fund their respective operations. The kept money market liquidity in net long positions in the last two days. Consequently, the short term benchmark…

Petition for Akpoti-Uduaghan’s Recall Fails Required Signatures – INEC Independent National Electoral Commission (INEC) says the petition to recall Natasha Akpoti-Uduaghan from the Senate has failed to meet the number of signatures required to implement the action. The commission stated this in a statement issued by Sam Olumekun, its National Commissioner and Chairman, Information and Voter Education Committee, on Thursday in Abuja. Olumekun said that the number of ascertained 208,132 signatures/thumbprints from the submitted petition fell short of the 50 per cent plus one (at least 237,278 voters) signatures in the constituency constitutionally required to commence recall action. He said…

Nigerian Stocks Value Falls by N30bn Amidst Delisting The market value of all listed stocks in Nigerian market declined by N30.44 billion as regulator delisted of some inactive companies from the Exchange on Thursday. The Nigerian Exchange (NGX) key performance indicators showed mixed performance- the All-share index declined marginally by 0.02%, while equities market capitalisation fell by 0.05%. The contrasting movement in these indicators was influenced by the Nigerian Exchange decision to delist Capital Oil Plc, Goldlink Insurance Plc, and Medview Airline Plc”, from trading platform. Trading data revealed that the market index fell 21.90 basis points in today’s trading…

Impact of U.S. Trade War on Nigeria Likely Limited An economist, Dr Muda Yusuf, has said that the impact of the current trade war by U.S. President Donald Trump on Nigeria’s economy is likely to be limited. Yusuf said on Thursday in Lagos that the impact could be limited because Nigeria’s external trade to the U.S. averaged about 10 per cent. According to him, in 2024, Nigeria’s total merchandise export was valued at 50.4 billion dollars and Nigeria exports to the U.S. the same year was worth  5.7 billion dollars (11.3 per cent). He noted that Nigeria’s major export to…