Soaring duties, FX rates cripple Nigeria’s used-vehicle market
•As dealers lament sales slump By Glory Bassey Car dealers in Nigeria have lamented a sharp decline in vehicle sales, blaming soaring import duties, high exchange rate and rising cost of living as reasons why car ownership is increasingly becoming unaffordable for many Nigerians. A car dealer and importer, Mr Paul Uche, said the auto […]
Nigeria loses N3.2trn annually to transport inefficiencies — Expert
By Providence Ayanfeoluwa There are indications that Nigeria loses N3.2 trillion annually ($4billion) to transport inefficiencies, including gridlock, poor modal integration and logistics fragmentation. The Chairman of Global Transport Policy (GTP), Dr. Oluwasegun Musa, said this in his remark at the 2026 Annual GTP conference in Lagos. He said that the country’s logistics cost as a […]
SEC partners Rwanda to accelerate African market integration
By Peter Egwuatu The Securities and Exchange Commission (SEC) has signed a Memorandum of Understanding (MoU) with Rwanda’s Capital Markets Authority (CMA), aimed at deepening cooperation and accelerating integration of African capital markets. Speaking at the signing ceremony in Abuja, Director-General of SEC, Dr. Emomotimi Agama, stressed the need for greater collaboration among African markets. […]
Why smuggling persists across Nigeria’s borders
As Customs seizes 870 smuggled vehicles worth N3.88bn in 15 months By Efe Onodjae Stakeholders in the automobile and maritime sectors have identified delays and high clearing costs as major reasons Nigerian car importers patronise neighbouring countries’ ports and also resort to smuggling. Data from the Nigeria Customs Service (NCS) show that no fewer than 870 […]
Nigeria Industrial Policy: FG secures $380m investment commitments in 90 days
By Yinka Kolawole The Federal Government has announced significant progress in the implementation of the Nigeria Industrial Policy (NIP) 2025, recording over $380 million in strategic financing commitments within its first 90 days and advancing key initiatives aimed at boosting local manufacturing, exports, skills development and industrial infrastructure. A 90-day progress report released by the Office […]
Textile manufacturers seek stronger trade protection for local industry
By Yinka Kolawole The Nigeria Textile Manufacturers Association (NTMA) has renewed its call for stronger government measures to protect the country’s textile industry from excessive imports, smuggling and unfair foreign competition. Speaking on a programme on the Nigerian Television Authority (NTA), the Director-General of NTMA, Dr. Hamma Ali Kwajaffa, said the association has consistently advocated decisive […]
