Nigeria’s business environment showed signs of improvement in January 2025, but businesses continued to struggle with profitability due to the high foreign exchange rate and rising import costs. This is according to the latest Business Confidence Monitor published by the…
Nigeria has recorded a reduction in petrol importation following the ‘removal of fuel subsidy’ by President Bola Tinubu in May 2023. According to the latest petroleum products distribution statistics report of the National Bureau of Statistics (NBS), petrol imports dropped…
By Esther Agbo Nigeria’s import activity has faced significant challenges in 2024, as evidenced by a sharp 65 percent decrease in foreign trade payments made through Letters of Credit (LC). The total value of LC payments dropped to $319.9 million…
