Trump Touts Economic Turnaround, Border Security Gains in First State of the Union of Second Term
WASHINGTON—Donald Trump on Feb. 24 delivered the first State of the Union address of his second term, outlining what he described as a historic economic turnaround and reaffirming his administration’s America First agenda as the nation approaches the November midterm elections. Addressing a joint session of Congress, the president declared that his policies have driven […]
Businesswoman, Laura Ikeji Kanu, raises alarm over spike in cost of renting of business spaces in Lagos state
Beauty entrepreneur Laura Ikeji Kanu has raised concerns about the soaring cost of renting business spaces in Lagos State, warning it is forcing small and medium businesses to close. She urged the government to regulate rents or provide financial support for struggling business owners. In a recent Instagram video, Ikeji Kanu revealed she currently pays […]
Grenada’s $2.4bn mega resort expands citizenship gateway for African investors –Optiva Capital Chairman
A $2.4 billion resort project in Grenada is progressing toward its 2027 launch, offering a new pathway to citizenship for African investors. The Grenada National Resort, backed by the government’s Citizenship by Investment Programme, allows qualified applicants to obtain a Grenadian passport with visa access to over 140 countries. Optiva Capital Partners says the development […]
FMN, France deepen trade ties at 2026 PIAS
Flour Mills of Nigeria (FMN) has strengthened trade ties with France at the 62nd Paris International Agricultural Show (PIAS) 2026. The company partnered with the French government to promote Nigerian-made products and expand global market access. The event, which runs from February 21 to March 1, attracts hundreds of thousands of visitors yearly. As a […]
Electricity crisis: S’East lost N28b in 3 months –SEECA
The South East Electricity Consumers Association (SEECA) says businesses in the South East lost over N28 billion in three months due to poor power supply. Its coordinator, Sebastine Okafor, made the claim in Enugu while urging governors to invest more in electricity generation. He described stable power as the quickest route to industrial growth in […]
DICON, Terra Industries seal pact to deepen local defence system manufacturing
Nigeria has moved to boost local defence production after the Defence Industries Corporation of Nigeria signed an MoU with Terra Industries to form a joint venture company. The agreement, backed by the DICON Act 2023, focuses on indigenous manufacturing and research in advanced military systems. Officials say it marks a new phase in reducing reliance […]
PENGASSAN opens talks with FG over executive order 9
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has opened talks with the federal government to clarify issues in Executive Order 9 (EO9) and protect the interests of oil and gas workers. The union warned that any misstep in implementing the order could destabilize the sector and impact the broader economy. PENGASSAN […]
CBN cuts interest rate to 26.50%
The Central Bank of Nigeria has reduced the Monetary Policy Rate (MPR) by 50 basis points to 26.50 percent from 27 percent. The announcement was made by CBN Governor Olayemi Cardoso after the 304th Monetary Policy Committee meeting in Abuja. He said the decision was unanimously supported by all MPC members. Despite the rate cut, […]
Trump’s New 10 Percent Global Tariffs Take Effect
President Donald Trump’s newly announced global tariff regime took effect at 12:01 a.m. on Feb. 24 at a rate of 10 percent, following a proclamation issued under Section 122 of the Trade Act of 1974, despite a weekend statement indicating the rate would be raised to 15 percent. The implementation follows a landmark ruling by […]
Naira records highest depreciation against US dollar
The Nigerian currency has fallen to its weakest level yet against the US dollar, marking a new low that has raised fresh concerns among businesses and citizens. Analysts say the sharp drop reflects ongoing pressure from foreign exchange demand, limited dollar supply, and economic uncertainties. Financial observers note that currency depreciation can increase the cost […]