Global trade is expected to maintain a steady pace in early 2025, according to the World Trade Organization (WTO), despite ongoing geopolitical tensions and economic uncertainties. The organization’s latest projections indicate that trade volumes will see moderate growth, supported by resilient consumer demand and recovering supply chains. While global economic conditions remain unpredictable, the WTO points to easing inflationary pressures and stabilizing commodity prices as key factors that could help sustain trade activity. However, risks such as trade restrictions, geopolitical conflicts, and fluctuations in major currencies may still pose challenges. The forecast comes at a time when many economies are…
Author: Temitope N.
The federal government has announced plans to deploy 7,000 telecom towers across the country through a public-private partnership aimed at improving network coverage and bridging connectivity gaps. The initiative is part of ongoing efforts to expand digital infrastructure and enhance mobile and internet services, particularly in underserved and rural areas. According to government officials, the project will be executed in collaboration with private sector investors who will provide funding and technical expertise, while the government facilitates regulatory approvals and policy support. The partnership is expected to accelerate broadband penetration, reduce call drop rates, and improve overall service quality for telecom…
A major power outage has hit Rivers and Bayelsa states following the collapse of electricity transmission towers, leaving residents and businesses in darkness. The incident, which occurred along a key transmission corridor, has severely disrupted power supply in the affected areas. According to the Transmission Company of Nigeria (TCN), the collapse was caused by suspected acts of vandalism, structural failure, or adverse weather conditions. Officials have since deployed engineers to assess the damage and begin restoration efforts, but no timeline has been given for the full restoration of power. The blackout has already impacted economic activities, with businesses that rely…
The Federal Government, in collaboration with the Nigerian National Petroleum Company Limited (NNPCL) and other key stakeholders, is reviewing the naira-for-crude policy to address concerns over its implementation and impact on the economy. The policy, which was introduced to ease foreign exchange pressures and stabilize fuel supply, has faced challenges in execution, prompting the need for reassessment. According to sources familiar with the discussions, the review aims to refine the framework to ensure that crude oil transactions conducted in naira remain sustainable and beneficial to both the government and private sector players. The policy was initially designed to reduce the…
The Nigeria Customs Service (NCS) has intercepted undeclared foreign currencies amounting to $1.1 million and 135,900 Saudi riyals (SR) at the Mallam Aminu Kano International Airport. The seizure was made during routine checks by customs officers, highlighting ongoing efforts to curb illegal financial movements through the country’s airports. According to customs officials, the foreign currencies were discovered in the luggage of passengers attempting to travel without declaring the funds, as required by financial regulations. The intercepted cash has been handed over to relevant authorities for further investigation, with officials looking into possible violations of anti-money laundering laws. The NCS has…
The Dangote Refinery has received fresh crude oil shipments from the Nigerian National Petroleum Company Limited (NNPCL), further strengthening its supply chain as it ramps up production. The latest deliveries underscore the collaboration between the refinery and Nigeria’s state-owned oil company to ensure a steady supply of feedstock for domestic refining. Industry sources indicate that the crude cargoes were sourced from local oil fields and delivered as part of ongoing efforts to support the refinery’s operations. The Dangote Refinery, which has a capacity of 650,000 barrels per day, is expected to play a key role in reducing Nigeria’s reliance on…
The Nigerian Electricity Regulatory Commission (NERC) has granted approval for Plateau State to regulate its electricity market, marking a significant step toward improving power supply and distribution in the state. This move aligns with Nigeria’s ongoing efforts to decentralize electricity regulation, allowing states to take greater control over their energy sectors. With this order, Plateau State now has the authority to oversee electricity generation, distribution, and supply within its jurisdiction. The decision is expected to enhance efficiency, attract investment, and address long-standing challenges in power delivery. It also empowers the state government to create policies that suit its unique electricity…
Kenya Airways has recorded a significant increase in its Nigerian passenger traffic, adding 10,000 more travelers in 2024. The growth reflects the rising demand for air travel between Nigeria and Kenya, as well as the airline’s strategic efforts to enhance connectivity and service offerings in the West African market. According to industry sources, the increase is driven by improved flight schedules, competitive fares, and enhanced passenger experience. The airline has also benefited from growing business and tourism ties between the two countries, with more Nigerians choosing Kenya as a travel destination for leisure, conferences, and business engagements. Kenya Airways’ commitment…
Retinaad, a leading digital advertising firm, has introduced artificial intelligence (AI) solutions to revolutionize the way brands connect with their audiences. The company’s AI-driven approach aims to enhance ad targeting, optimize campaign performance, and improve overall return on investment for advertisers. By leveraging machine learning algorithms, Retinaad’s AI technology analyzes consumer behavior, market trends, and engagement patterns to deliver highly personalized advertisements. This allows brands to reach the right audience with precision, reducing wasted ad spend and increasing conversion rates. According to the company, its AI-powered platform can automatically adjust ad creatives, test multiple variations, and refine messaging in real…
The Nigerian Ports Authority (NPA) has reaffirmed its commitment to promoting gender equality within the maritime sector. Speaking at a recent event, the Managing Director of the NPA emphasized the organization’s dedication to creating an inclusive work environment that empowers women and ensures equal opportunities for all employees. The MD noted that while the maritime industry has traditionally been male-dominated, efforts are being made to bridge the gender gap through targeted policies, capacity-building programs, and leadership development initiatives. She highlighted the NPA’s ongoing efforts to support women in leadership roles and encourage their participation in decision-making processes. As part of…