Author: Casey Ayodeji
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Nigeria Seeks South Africa’s Backing for G20 and BRICS Membership
Nigeria has initiated a strategic diplomatic effort to secure full membership in the G20 and BRICS, targeting South Africa’s support in expanding its global economic influence. Presidential spokesperson Bayo Onanuga disclosed this while highlighting the potential to join a group that currently represents approximately 37 percent of the world’s gross domestic product. The diplomatic overture…
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Tinubu Defends Fuel Subsidy Removal, Claims Previous Economic Prosperity Was Illusory
President Bola Tinubu has declared that the economic wellbeing Nigerians previously experienced was artificial and destructive, defending his administration’s controversial decision to remove fuel subsidies as a critical intervention to prevent national economic catastrophe. Speaking during the combined 34th and 35th convocation ceremonies at the Federal University of Technology Akure (FUTA) in Ondo State, Tinubu,…
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Holcim to Exit Nigeria, Sells Lafarge Africa Stake to Huaxin Cement for $1 Billion
Swiss cement and building materials manufacturer Holcim has announced its strategic exit from Nigeria, signing an agreement to sell its entire 83.81 per cent stake in Lafarge Africa Plc to China’s Huaxin Cement for $1 billion, marking a shift in the company’s global investment strategy. The transaction, expected to close in 2025, is subject to…
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FCCPC Launches Investigation into Nigeria’s Banking, Telecom, and Aviation Sectors
The Federal Competition and Consumer Protection Commission (FCCPC) has initiated a major investigation targeting leading companies in Nigeria’s banking, telecommunications, and aviation sectors, responding to persistent consumer complaints about poor service delivery and potentially exploitative practices. In a statement released on Sunday by its Director of Corporate Affairs, Ondaje Ijagwu, the commission announced a targeted…
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Trump Declares Economic War on BRICS, Threatens Massive Tariffs Over Currency Plans
President-elect Donald Trump has issued a warning to the BRICS nations, threatening to impose 100% tariffs on countries attempting to create a rival currency to the US dollar. In a social media statement, Trump declared that the era of standing by while BRICS countries seek to move away from the dollar is over. The BRICS…
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Tinubu to Co-Chair Nigeria-South Africa Bi-National Commission Meeting in Cape Town
President Bola Tinubu is set to depart France on Monday for Cape Town, South Africa, where he will co-chair the 11th session of the Nigeria-South Africa Bi-National Commission (BNC) alongside South African President, Cyril Ramaphosa. The Presidential BNC, scheduled for Tuesday, December 3, will be preceded by a ministerial meeting on Monday at the South…
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Nigeria and France Sign MOU to Jointly Develop Critical Minerals
Nigeria and France have signed a Memorandum of Understanding (MOU) to jointly develop and diversify critical minerals in both countries. The agreement was signed during President Bola Ahmed Tinubu’s official visit to France. The Minister of Solid Minerals Development, Dr. Dele Alake, signed for Nigeria, while the Inter-Ministerial delegate for Critical Ores and Metals of…
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Borno Governor Expresses Concerns Over Tax Reform Bills, Warns of Negative Impact on the North
Governor Babagana Umara Zulum of Borno State has expressed his strong disapproval of the tax reform bills recently transmitted to the National Assembly by President Bola Ahmed Tinubu. In an interview with BBC Hausa service, Zulum warned that the proposed legislation would drag the northern part of the country backward and negatively impact other regions…
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CBN Governor Signals Easing of High Interest Rates as Inflation Cools
In a recent address at the Bankers’ Night hosted by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, gave a clear signal that high interest rates would be eased in the coming months if inflation pressures cool as expected. Cardoso emphasized that…
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World Trade Organization Reappoints Ngozi Okonjo-Iweala as Director General
The World Trade Organization (WTO) has unanimously reappointed Dr. Ngozi Okonjo-Iweala as its Director General for a second term during a special meeting of the WTO’s General Council on Friday. Okonjo-Iweala, who made history in 2021 as the first woman and the first African to lead the 164-member organization, will continue to serve in this…