Nigeria’s new finance minister Taiwo Oyedele who on Friday assumed office, pledged to consolidate economic stabilisation efforts and deepen reforms to deliver tangible benefits for citizens. Oyedele, who took over from predecessor Wale Edun, said Nigeria was at a critical juncture and must build on gains already made to strengthen growth and stability. He outlined...
Category: Business
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FCCPC Seals Abuja Supermarket Over Pricing Violations
Nigeria’s Federal Competition and Consumer Protection Commission said it carried out an enforcement operation at a supermarket in Guzape, Abuja, following consumer complaints about irregular pricing practices. During the inspection, the commission said it identified several potential consumer protection violations, including discrepancies between shelf prices and checkout prices, products displayed without price tags, expired goods...
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Importers To Pay N1,000 For SONCAP Default Fees As Port Congestion Worsen
The Federal Government has introduced a temporary Standards Organisation of Nigeria Conformity Assessment Programme (SONCAP) default arrangement to resolve issues affecting the attachment of Shipment Certificates during the Pre-Arrival Assessment Report (PAAR) processing on the National Single Window (NSW) platform. In a notice issued to importers yesterday, the NSW management said the intervention is designed...
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Cyprus Prepares To Host Key EU Leaders’ Summit
Cyprus is ramping up preparations to host a high-level European Union summit, with leaders from across the bloc set to convene on the island to tackle a range of pressing regional and global issues. The gathering is expected to focus heavily on migration pressures in the Mediterranean, energy security amid shifting global markets, economic resilience,...
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Boeing Reports Small Loss, Points To Progress On Turnaround
Boeing reported a small quarterly loss following an uptick in commercial plane deliveries as the aerospace giant pointed to progress on a turnaround after a long period of stumbles. The US aircraft manufacturer reported a loss of $90 million in the first quarter of 2026, compared with a loss of $123 million in the year-ago...
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IMF Cuts 2026 Global Growth Forecast On Middle War
The IMF cut its 2026 global growth projection, warning that the world economy could be “thrown off course” by war in the Middle East as the conflict roils commodity markets and sparks higher prices. The global economy is set to grow by 3.1 percent this year, said the International Monetary Fund in its World Economic...