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The United States government has unveiled a sweeping tariff proposal targeting imported commodities from 58 developing nations, including Nigeria and South Africa. The protectionist policy framework aims to recalibrate bilateral trade imbalances and protect domestic American manufacturing interests from foreign competition. If implemented, the levies will slap new duties on critical agricultural products, solid minerals,…
Nigeria and Liberia intend to pool their maritime resources to expand economic opportunities and train young sailors. Dayo Mobereola, the head of the Nigerian Maritime Administration and Safety Agency, hosted the Liberian Envoy, Dapo Akinosun, in Lagos to finalize the details. Both nations want to secure a larger share of the global shipping market by…
Nigeria and Türkiye have signed a memorandum of understanding to deepen bilateral cooperation in the solid minerals sector. Minister of Solid Minerals Development Dele Alake and Turkish Minister of Energy and Natural Resources Alparslan Bayraktar finalised the agreement in Istanbul. The pact updates an inactive framework first established between the two nations in 2021. Both…
Global crude prices tumbled as traders weighed erratic diplomatic signals regarding a potential peace deal to end the US-Israel war on Iran. Brent crude fell 5 percent on Sunday to stand at $98.47 a barrel for July futures. This represents a 9 percent drop over the past month. Despite the decline, global prices remain more…
China and Nigeria have expanded their bilateral relations through a cultural exchange programme centred on traditional tea heritage. The initiative gathered diplomats, artists, and government officials at the China Cultural Centre in Abuja on Wednesday. Dubbed the 2026 Maritime Silk Road Impressions salon, the gathering used the ancient beverage to anchor talks on people-to-people diplomacy….
Wall Street index values fell sharply as surging crude prices ignited renewed global inflation fears. The sudden retreat knocked US equities off their recent record highs, which had been driven heavily by optimism surrounding artificial intelligence. Investors abandoned riskier stocks after benchmark Treasury yields jumped, offering a safer alternative for capital. The downturn affected nearly…
The United Nations has cut its global economic growth projections, warning that the war in the Middle East threatens to derail international trade and commodity markets. UN economists now forecast global gross domestic product to expand by 2.5 percent this year. A slightly better performance of 2.8 percent is pencilled in for next year. The…
Nigeria holds over 200 trillion cubic feet of proven natural gas reserves, enough to power a continent. Yet its citizens sit in darkness, its factories run on diesel, and its neighbours inch closer to economic collapse for want of the very resource buried beneath their feet. This is not misfortune. It is policy. That damning…
Germany has shifted its approach to Nigeria from traditional aid to a commercial alliance, sealing a €365 million development and investment partnership framework. The agreement, signed in Abuja, includes a €65 million financial and technical cooperation package for the 2026–2027 cycle, alongside a €300 million export credit line designed to de-risk private capital. This framework…
Nigeria’s global passport ranking has improved by six places since President Bola Tinubu took office in May 2023, yet the actual number of countries that Nigerians can enter without a prior visa has quietly shrunk, presenting a contradictory picture of progress and decline. According to the April 2026 edition of the Henley Passport…
