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 […]
Petrol depot prices drop, pump price cuts loom
By Udeme Akpan, Energy Editor Petrol prices fell by as much as N24 per litre at major depots in Lagos on Tuesday, while other markets recorded smaller reductions, raising expectations that filling stations could begin cutting pump prices as they replenish their stocks. The development came amid a decline in international crude oil prices, with […]
Experts divided over CBN’s 3% interest rate slash
Mixed reactions yesterday trailed the Central Bank of Nigeria, CBN’s cut on interest rate by three per cent, as the Monetary Policy Rate, MPR, was reduced from 26.5 per cent to 23 per cent.
Nigeria needs more bankable projects to attract capital – UNGC
By Jeremiah Urowayino UN Global Compact Network Nigeria has said Nigeria does not lack capital but sufficient investable opportunities capable of attracting and absorbing it. This was disclosed at the 2026 CEO Forum of the UN Global Compact Network Nigeria, themed ‘Financing a Dignified Future: Aligning Capital, Policy and Business Action,’ which brought together chief […]
NSIA unveils $300m Renewable Energy Fund
By Emma Ujah, Abuja Bureau Chief The Nigeria Sovereign Investment Authority, (NSIA) has launched the $300 million Nigeria Distributed Renewable Energy (DRE) Fund, a new investment vehicle designed to accelerate private-sector investment in renewable energy and expand electricity access to underserved communities and businesses across the country. The Fund, which reached its commercial launch milestone […]
Vehicle imports jump 42.5% to 103,375 in H1’26 — NPA
By Godwin Oritse The Nigerian Ports Authority (NPA) has recorded importation of 103,375 units of vehicles in the first half of 2026, H1’26, about 42.5 percent rise against 72,568 units handled during the same period in 2025, H1’25. The figure was disclosed at the quarterly meeting of the Port Consultative Council (PCC) in Lagos, where […]
