Vice President Kashim Shettima has returned to Nigeria after leading the country’s delegation to the 18th BRICS Summit in New Delhi, where Nigeria and India agreed to work towards restoring bilateral trade to nearly $15 billion. The target follows a meeting between Shettima and Indian Prime Minister Narendra Modi on the sidelines of the summit….
The long-delayed Badagry Deep-Seaport development has moved into a new phase after APM Terminals signed a Memorandum of Understanding with Badagry Port Development Limited to explore the project. The agreement was signed in Copenhagen during a visit by Nigeria’s Minister of Marine and Blue Economy, Adegboyega Oyetola, and a Federal Government delegation. It commits the…
Russia and North Korea have opened their first road bridge across their shared border, creating a new transport link as the two countries deepen their strategic partnership. The one-kilometre bridge crosses the Tumen River and connects Russia’s Khasan area with North Korea’s Rason region. The opening took place on September 7, with Russian Prime Minister…
The Presidency has clarified that Nigeria land borders have been open since March 2024, pushing back against claims that the Federal Government still maintains a general closure on cross-border trade. The clarification came after former Vice President Atiku Abubakar said he would reopen Nigeria’s borders if elected in 2027. The Presidency said the statement was…
Qatar is stepping deeper into the diplomatic effort to end the U.S.-Iran standoff, pushing for the reopening of the Strait of Hormuz and a return to the memorandum of understanding that was supposed to keep negotiations between Washington and Tehran alive. The timing is important. The 60-day period created by the June U.S.-Iran memorandum expired…
Canada has avoided a major new trade shock, but only for three days. President Donald Trump has paused planned 50% tariffs on about $20 billion worth of Canadian goods, hours before the duties were due to take effect. Trump said the United States and Canada had reached a deal, but the agreement still depends on…
President Donald Trump has once again made Iran’s nuclear program the center of his policy, saying preventing Tehran from obtaining a nuclear weapon remains his “number one Goal”. His statement comes at a particularly important moment because the 60-day period created by a US-Iran memorandum has now expired without a broader agreement. That makes Trump’s…
Nigeria is making two economic moves that look unrelated on the surface but point towards the same bigger objective: getting more value out of what the country already has. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) is consulting industry stakeholders on a proposed domestic crude oil and gas swap arrangement designed to make it easier…
A new wave of U.S. import tariffs officially took effect on Friday, July 24, replacing the temporary 10% global tariff that had been in place since February and marking a significant shift in the Trump administration’s trade policy. The new measures impose tariffs ranging from 10% to 12.5% on imports from 60 trading partners, covering…
The Nigerian Export Promotion Council (NEPC) has called on members of the ECOWAS Trade Promotion Organization (TPO) Network to pursue alternative funding sources to strengthen regional trade promotion and economic integration across West Africa. Speaking at the 6th Annual General Assembly of the Network in Dakar, Senegal, NEPC Executive Director and Chief Executive Officer Mrs….
