Africa’s richest man unveils plan for Nigeria’s largest seaport to boost industrial expansion
The facility, about 100 kilometres from Lagos, could rival the Chinese-backed Lekki Deep Sea Port.
Business and Economy
Nigeria’s exports to US fall by $527m as trade tensions mount
US imports of Nigerian goods decreased by $527m in the first five months of 2025
UK eases trade rules to support Nigerian exporters and African commerce
“This is good for their economies and for UK consumers and businesses,” said Jenny Chapman, UK Minister for Development. “Countries in the Global South want a different relationship with the UK, as a trading partner and investor, not just a donor.”
Trump to impose 30% tariff on EU goods from August 1
Trump also threatened to increase tariffs further if the EU responded with countermeasures, escalating fears of a renewed transatlantic trade war.
Ecobank Nigeria’s viability rating cut to ‘f’ by Fitch
Fitch Ratings has downgraded Ecobank Nigeria’s viability rating from ‘ccc’ to ‘f,’ citing a “material capital shortfall” and a breach of the 10% capital adequacy ratio (CAR) since 2024.
Dangote: $18bn spent yet NNPC refineries may never work again
They have spent about $18bn on those refineries, and they are still not working
Ojulari snubs Senate again over missing N210tn
Lawmakers described his absence as “a direct attack on the authority of the National Assembly.”
Trump urged Germany to buy more LNG — and they did
U.S. now Germany’s largest LNG supplier…
‘Mind-boggling’ fraud uncovered at NNPCL — Olukoyede
“In the last three weeks, we launched a commission-wide investigation into the extractive industry… What we have discovered is mind-boggling.”
Nvidia becomes world’s first $4 trillion listed company
This milestone comes just over a year after Nvidia surpassed the $3 trillion mark, overtaking Apple in market capitalization.