Obasanjo Criticises African Leaders, Urges End to Aid Dependency

Obasanjo Criticises African Leaders, Urges End to Aid Dependency

By Oluwakemi Kindness Former President, Olusegun Obasanjo has criticised many African leaders for lacking the basic understanding of economics required to govern effectively, warning that this ignorance continues to hinder development and deepen reliance on foreign aid. Obasanjo spoke on Thursday during a panel session at the 2025 Afreximbank Annual Meetings held in Abuja, Nigeria. The session, themed *“African Renaissance in an Era of Turbulence: Are the Lions Still on […]

June 26, 2025 11 3

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Economy

AfCFTA Calls for Single Digital Identity to Ease Trade

By Oluwakemi Kindness The African Continental Free Trade Area (AfCFTA) has called for the urgent development of a continent-wide digital identity system to accelerate cross-border trade, deepen financial inclusion, and strengthen regional integration. Secretary General, African Continental Free Trade Area (AfCFTA), Wamkele Mene, made the call on Thursday in Abuja at a special side event at the ongoing 32nd Annual Meetings of Afreximbank. Mene made a strong call for political […]

June 26, 2025 11 1

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Business

Turn Global Crisis to Opportunity, Afreximbank Tells Africa

By Oluwakemi Kindness The African Export-Import Bank (Afreximbank) has called on African nations to seize the moment and transform global financial and geopolitical instability into a catalyst for continental self-reliance, industrialization, and reform. This is the core message from the African Trade Report 2025 and Economic outlook report launched at the Afreximbank Annual Meetings (AAM2025) in Abuja on Wednesday.” It adds that despite headwinds of rising geopolitical tensions, new protectionist […]

June 26, 2025 12 1

Economy

NEPZA, Dangote Refinery Move to Cut Fuel Prices in Nigeria

By Oluwakemi Kindness The Nigeria Export Processing Zones Authority (NEPZA), in collaboration with key stakeholders, has pledged to implement the presidential directive aimed at reducing domestic fuel prices and boosting national energy security. The partnership includes the Presidential One-Stop-Shop Committee on the Sale of Crude in Naira and the Dangote Refinery & Petrochemicals Free Zone Enterprise. The agreement was reached during a courtesy visit by the committee to NEPZA’s Managing […]

June 25, 2025 19

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Economy

Nigeria’s CBN Governor Calls for Resilient Institutions Amid Global Uncertainty

By Oluwakemi Kindness Institutions within the African continent has been tasked to embrace resilience as a core strategy to withstand global economic shocks and drive sustainable development. This is according to the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, who said Africa must build institutions capable of navigating economic fragmentation, trade protectionism, and shifting geopolitical realities. “Resilience is not accidental. It is engineered through deliberate choices, strategic […]

June 25, 2025 17 4

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Economy

Afreximbank Seeks Stronger Support for African DFIs

By Oluwakemi Kindness The African Export-Import Bank (Afreximbank), on Wednesday called on African governments to strengthen and protect the independence of Development Finance Institutions (DFIs), noting their critical role in supporting the continent’s economic resilience and long-term growth. The Senior Executive Vice President of the African Export-Import Bank (Afreximbank), Denys Denya, made this call at the opening of the on-going 32nd Afreximbank Annual Meetings in Abuja. Denya emphasized the need […]

June 25, 2025 11 8

Vice President Shettima speaking at the Nigeria PPP Summit 2025, promoting private sector collaboration in infrastructure development.

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Economy

Nigeria Commits to Africa’s Future, Showcases $52B AFREXIM Support

By Oluwakemi Kindness The Federal Government of Nigeria on Wednesday declared its unwavering commitment to spearheading Africa’s development journey, pledging bold leadership, deeper collaboration, and decisive action to build a more resilient and prosperous continent. This is according to Vice President, Kashim Shettima, who spoke at the 32nd Annual General Meeting of the Africa Export-Import Bank (AFREXIM Bank) held in Abuja, themed *“Building the Future on Decades of Resilience.” Shettima […]

June 25, 2025 9 1

Officials from the U.S. and Nigeria at the Abuja launch of the Commercial and Investment Partnership aimed at expanding bilateral trade.

Business

US, Nigeria Launch Trade Pact to Drive Investment, Create Jobs

By: Uju Nwachukwu In a bid to deepen commercial ties, drive mutual prosperity, the United States and Nigeria have launched the working group phase of their Investment Partnership in Abuja. The initiative, anchored on a five-year agreement signed in 2024, by US. Secretary of Commerce Gina Raimondo and Nigeria’s Minister of Industry, Trade, and Investment Doris Uzoka-Anite, aims to deepen bilateral commercial cooperation and expand economic opportunities in both […]

June 24, 2025 8

Economy

Nigerian Customs Proposes ₦1.13trn 2025 Budget, Criticizes 2024 Funding Shortfall

By Oluwakemi Kindness The Nigeria Customs Service (NCS) has proposed a budget of N1.13 trillion for its 2025 operations. The budget it notes aims at strengthening revenue generation despite what lawmakers describe as gross underfunding in the previous year. Deputy Comptroller-General of Customs, Bello Jibo, presented the proposal on Monday during a budget defence session before the House of Representatives Committee on Customs and Excise in Abuja. Breaking down the […]

June 23, 2025 3