Trade facilitation: Customs unveils digital baggage import declaration
The Nigeria Customs Service, NCS has announced the deployment of a Simplified Baggage Import Declaration System at the Seme Area Command. This marks a new phase in its drive for digital innovation, trade facilitation, and improved passenger clearance processes. The initiative is designed to streamline baggage declaration, reduce clearance time, and enhance transparency for legitimate […]
CBN reduces interest rate to 26.5%.
…As External Reserves hit $50.4 b …20 banks cross recapitalization threshold, mobilise N4.05 trn Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN), yesterday, reduced the Monetary Policy Rate (MPR), the benchmark interest rate by 50 basis points from 27 per cent to 26.5 per cent. The Governor of the CBN, Mr. Olayemi Cardoso, disclosed […]
Oil Theft: How criminal networks are moving from creeks to communities
For decades, Nigeria’s oil theft crisis was largely associated with remote creeks, mangrove swamps and offshore vandalism in the Niger Delta. Increasingly, however, security agencies say the trade is migrating inland-embedding itself within civilian communities, markets and transport corridors where it can operate under the cover of everyday commerce. The recent exposure of Owaza Mami Market […]
Dangote Refinery targets depot owners, major marketers in new marketing model
By Udeme Akpan, Energy Editor Dangote Refinery has resumed the sale of Premium Motor Spirit (PMS), also known as petrol, to major marketers and depot owners under a revised distribution framework endorsed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The move represents a significant shift from the previous arrangement in which products were […]
Global mobility drives economic expansion, not capital flight — Optiva Capital boss
By Babajide Komolafe The Chairman, Optiva Capital Partners, Mr. Franklin Nechi, has dismissed concerns that rising migration among Nigerians amounts to capital flight, insisting instead that global mobility fuels economic expansion and strengthens domestic resilience. Speaking during a media interaction in Lagos, the Optiva Capital boss argued that the growing appetite for residency and second citizenship […]
Raw materials export soars, despite push for local processing
lt undermines backward integration policies —LCCI lProposed 30% value-addition bill will foster industrial growth —MAN lPolicy alone can’t solve problem —CPPE By Yinka Kolawole There are indications that the Federal Government’s drive towards value-added exports is failing as exports of unprocessed raw materials jumped to N2.9 trillion in the first nine months of 2025 (9M’25). Data from […]
