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US President Donald Trump's new global tariffs have come into effect at 10% despite a pledge to introduce them at a higher rate. After the supreme Court blocked many of his sweeping import taxes on Friday, the president said he would introduce a 10% global rate. He then said on Saturday that the rate would be 15%. However, according to official documents, the tariffs have been set at the lower […]
President Donald Trump says countries doing business with Iran will face a 25% tariff on trade with the US, in response to a deadly crackdown on anti-government protests. Trump has also been briefed on a range of military and covert options for use in the country, officials tell the BBC's US partner CBS News - including long-range missile strikes, as well as cyber and psychological tools. In recent days the […]
25-year duty-free AGOA partnership in danger, Nigerian-American commerce chamber worries •Nigeria’s crude revenue may plunge as US begins enforcement Wed, NACCIMA raises concerns The newly imposed 14 per cent tariff by US President Donald Trump on exports by Nigerian businesses presents a significant risk to the $10bn annual exports to the United States, potentially disrupting key sectors such as oil export and agricultural trade, experts and trade associations concerned about […]
The Nigerian government has been advised by the International Monetary Fund to eliminate what it has described as hidden subsidies on fuel and electricity. In a recent report from the IMF, Nigeria was informed that subsidies are expected to consume three percent of the country's Gross Domestic Product in 2024, a notable increase from the one percent in the previous year. As per the report, the IMF praised the Federal […]
The Coalition of United Political Parties, CUPP, has condemned the recent hike of electricity tariffs for customers under the Band A classification. This is contained in a statement signed by the General Secretary of CUPP, Chief Peter Ameh in Abuja. The statement says this is one increase too many adding that government is meant to serve the interest of the people and not the other way round. "We […]
A non governmental organization "ActionAid Nigeria, AAN, has strongly condemned the recent approval by the Nigerian Electricity Regulatory Commission, NERC, to increase electricity tariffs for customers under the Band A classification. This is contained in a statement signed by the Communications Coordinator, ActionAid Nigeria, Oluwakemi Akinremi-Segun in Abuja. The statement says this decision comes at a time when the country is grappling with erratic power supply, leaving […]
