Tag
NIGERIA
News and stories about Nigeria
The Federal government plans to steadily raise the rate for Value Added Tax (VAT) to 15% from the current 7.5%.
Nigeria has officially joined BRICS as a partner country, alongside 12 other nations, further strengthening its economic ties with the intergovernmental bloc.
Nigeria is now part of eleven African countries that have seen worsening governance levels in the last ten years dating back to 2014.
The International Monetary Fund (IMF) has projected Nigeria economy to expand by 3.2% in the coming year 2025 while inflation is estimated to drop to 25% in the same year.
Nigeria and Swedish telecom giant, Ericsson, have signed a Memorandum of Understanding (MoU) to establish a 5G Innovation Lab aimed at advancing Nigeria’s digital infrastructure.
Flour Mills of Nigeria Plc, the country’s largest milling company, has announced plans to invest up to $1 billion over the next four years to expand its operations.
The World Bank has ranked Nigeria among the top ten countries most hard hit by food inflation in the world.
Nigeria and Brazil are in advanced discussions to activate the Bilateral Air Service Agreement (BASA), which aims to establish direct flights between the two countries.
The United Nations Food and Agricultural Organisation (FAO) has estimated the recent floods across states in Nigeria has destroyed food crops that could feed up to 8.5 million people across the country.
Ivory Coast becomes Nigeria’s biggest trade partner in Africa after N2.05 trillion crude oil imports
Ivory Coast has emerged as Nigeria’s biggest trade partner in Africa after importing crude oil worth N2.05 trillion in the first half of the year.
Nigeria’s average daily crude oil production rose by 3.4% to 1.352 million barrels in August according to latest data published by OPEC.
Nigeria’s Purchasing Managers’ Index (PMI) saw a marginal uptick in August rising from 49.2 to 49.9 on the back signalling a slight improvement in business conditions but renewed inflationary pressures continue to hinder growth of businesses.