Two banks holding national banking licences are reportedly in talks to merge as the recapitalisation deadline set by the Central Bank of Nigeria (CBN) nears.
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US Treasury chief eyes China tariff deadline extension in talks next week
US Treasury Secretary Scott Bessent said Tuesday that he would meet his Chinese counterparts in Stockholm next week for tariff talks, eyeing an extension to a mid-August deadline for levies to snap back to steeper levels.
Cost of cooking a pot of jollof rice in Nigeria rises to new high, now 40% of minimum wage
A new report released by SBM Intelligence has provided an insight into the rising cost of preparing a pot of Jollof rice, and states it is the most expensive.
AstraZeneca to invest $50 bn in the US as tariff threat looms
British pharmaceutical giant AstraZeneca said Tuesday it would invest $50 billion in the United States by 2030 amid Donald Trump's threats to impose tariffs on the sector. The United States is a key market for the pharmaceutical industry, and AstraZeneca said it expects 50 percent of its revenue to come from the US by 2030.
Naira narrows dollar gap between official, black markets amid surge in forex inflow
The exchange rate gap between the official and parallel markets has narrowed to just N2 per dollar as investors poured $1.31 billion into the FX market.
High fertiliser cost: Farmers boycott major crop farming, embrace low-cost crop production
Nigeria's food security threatened by soaring fertiliser prices. Farmers abandon major crops like maize, rice due to high costs. Shift to low-cost crops.
Cement prices set to fall as naira strengthens, BUA chairman predicts cost relief
BUA Cement chairman Abdul Samad Rabiu has assured Nigerians that cement prices will drop, citing reduced forex volatility and government reforms as key factors
Price hikes nibble at demand for Lindt chocolate
Premium Swiss chocolate maker Lindt & Sprungli hiked its 2025 sales target as cocoa price hikes passed on to customers outweighed a drop in volumes. While sales volumes declined by 4.6 percent, it still saw revenues climb by nine percent to 2.4 billion Swiss francs ($3.0 billion) as consumers continued to buy chocolate despite the price hikes.
UK gives green light to £38 bn Sizewell C nuclear plant
The UK government on Tuesday gave new British nuclear power plant Sizewell C the final go-ahead, after it struck a deal with investors, in a move to bolster energy security. The UK has refocused on shoring up nuclear power since the start of the war in Ukraine, in the name of energy security and faced with a fleet of ageing power stations.
AstraZeneca says to invest $50 bn in the US
British pharmaceutical giant AstraZeneca said Tuesday it would invest $50 billion in the United States amid a looming deadline of ramped-up tariffs from Washington. The United States is a key market for the pharmaceutical industry, and AstraZeneca had already announced in April that it had begun transferring part of its European production to the United States.
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