Economy - Page 4

On Thursday, Finnish telecoms equipment maker Nokia reported a $68 million euro loss in net profit for the first quarter, citing the tariff wars and “rapidly evolving global trade landscape”. The company said tariffs imposed by the United States could result in

The Nigeria Customs Service (NCS) said that the service collected N1.75 trillion in revenue in the first quarter of the year (Q1 2025). According to the Comptroller General, Bashir Adeniyi, the revenue of the service exceeded its quarterly target by N106.5 billion,

The EU on Wednesday slapped Apple and Meta with 700 million euros in fines for breaking digital competition rules, risking the wrath of US President Donald Trump. The penalties threaten to cause more tension in the already fraught relationship between the bloc

Intel Corp., a chipmaker, is set to cut more than 20% of its staff this week, representing over 21,000 employees. A report by Bloomberg, citing a person with knowledge of the matter, said the move comes less than a year after Intel

Nigeria’s currency in circulation dropped to N5 trillion in March 2025, according to the latest data from the Central Bank of Nigeria (CBN). Currency in circulation refers to the total amount of cash — coins and paper currency — that has been

Finance leaders from around the world are gathering in Washington this week for the semi-annual meetings of the International Monetary Fund (IMF) and World Bank Group. This year’s discussions are expected to be dominated by one pressing issue: tariffs. On April 2,

Klaus Schwab, the influential founder of the World Economic Forum (WEF), has officially resigned as Chair of its Board of Trustees, marking the end of an era for the institution he built into one of the most powerful gatherings of global business

The Federal Government is set to boost Nigeria’s grid capacity by an additional 4,000 megawatts (MW) by the end of 2026. A statement by Bolaji Tunji, Special Adviser on Strategic Communications and Media Relations to the Minister of Power, Adebayo Adelabu, disclosed

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, and the CBN’s Director of Legal Services, Salam-Alada Kofo, are facing contempt proceedings for allegedly failing to comply with a Supreme Court Judgement that reversed the forfeiture of N1.22 billion and N220

For the second time in the month of April, Dangote Petroleum Refinery and Petrochemicals has again reviewed its ex-depot (gantry) loading cost of petrol to ₦835 per litre. The $20bn Lagos-based refinery informed its marketers and customers of the slash on Wednesday.

Nigeria’s headline inflation rate increased to 24.23% in March 2025, according to the Nigeria Bureau of Statistics (NBS), the official government data source. This rise from 23.18% in February 2025 to 24.23% in March 2025 reflects a significant surge in commodity and

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has unveiled its vastly improved Point of Sale (POS) Terminal as well as the UBA MONI App to redefine the digital payment landscape and empowering small and medium-scale enterprises across Africa. The upgraded