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 […]
Soil degradation threatens 95% of world food supply
By Kafayat Kokumo The Food and Agriculture Organisation of the United Nations (FAO) has warned that worsening soil degradation threatens food production globally, as proven measures to protect and restore soils remain underused. The warning was contained in FAO’s ‘Status of the World’s Soil Resources 2026’ report, launched at the 17th Conference of the Parties […]
NSIA saves Nigeria $200m in medical tourism
By Emma Ujah, Abuja Bureau Chief The Nigeria Sovereign Investment Authority (NSIA) said yesterday that its investments in healthcare have saved Nigeria about $200 million in foreign exchange outflows associated with medical tourism. NSIA Managing Director, Aminu Umar-Sadiq, said the intervention was driven by the need to address medical tourism through the establishment of NSIA […]
Banks’ borrowing drops 89% to N126bn
Banks’ borrowing from the Central Bank of Nigeria’s (CBN) Standing Lending Facility, SLF, declined by 89 percent to N126 billion in August 2026 from N1.19 trillion in July 2026, reflecting higher liquidity in the banking system. The CBN has two short term lending windows for banks: the Standing Lending Facility (SLF) and Repo […]
IMF warns stablecoins cannot replace fiscal discipline as global debt risks mount
By Peter Egwuatu The International Monetary Fund (IMF) has warned that the growing adoption of dollar-backed stablecoins must not be allowed to weaken fiscal and monetary discipline in countries whose currencies and assets underpin the digital tokens. According to a statement released by the IMF, its Managing Director, KristalinaGeorgieva, who spoke at the Jackson Hole […]
Electricity subsidy bill hits N1.92trn in 2025 — NERC
By ObasEsiedesa, Abuja The electricity tariff subsidy obligation of the Federal Government (FG) stood at N1.92 trillion in 2025, as the government continues to absorb the gap between cost-reflective electricity tariffs and rates paid by customers, according to the Nigerian Electricity Regulatory Commission (NERC). NERC, in its 2025 industry report, put the government’s gross tariff […]
