Business Planning

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Business Planning

Musk’s Tesla raises concern over Trump tariffs

Washington, March 14, 2025 – Elon Musk’s electric carmaker Tesla has warned it and other US exporters could be harmed by countries retaliating to Donald Trump’s trade tariffs. Musk is a close ally of the US president and is leading efforts to reduce the size of the federal government. But in an unsigned letter addressed to the US trade representative, Tesla said while it “supports” fair trade it was concerned US exporters were “exposed to disproportionate impacts” if other countries retaliated to tariffs. The letter was dated the same day …

Business Planning

China remains Nigeria’s dominant trading partner

Lagos, March 10, 2025 – China remains Nigeria’s dominant trading partner since 2024, particularly on the import side, with a significant share of Nigeria’s total imports.  India, the USA, Belgium, and The Netherlands followed in terms of trade volume. According to the Nigeria Bureau of Statistics (NBS), the trade volume between China and Nigeria exceeded $20 billion in 2024.  Nigeria recorded a N3.4 trillion trade surplus against China in the fourth quarter of 2024 The most traded commodities during the first and second quarters of 2024 included motor spirit ordinary, …

Business Planning Money market

FG to ensure Nigeria becomes top investment destination

Lagos, March 6, 2025 – The federal government is committed to ensuring that Nigeria once again becomes a top investment destination. President Bola Tinubu said this while laying the foundation for the new 40-storey headquarters of the FirstBank Group in Eko Atlantic City in Lagos on Wednesday. The president, who was represented by Vice President Kashim Shettima, said his administration was fostering an environment where significant investment and transformative projects could thrive through bold economic reforms. He said that his administration was also committed to exploring strategic public-private partnerships and …

Business Planning Foreign Money market

Trump says Musk to uncover billions in ‘fraud and abuse’ at US Pentagon

Washington, Feb. 10, 2025 US President Donald Trump has said he expects his ally Elon Musk to find billions of dollars of fraud and abuse at the Pentagon, after he was tasked with leading an audit to slash the size of the US federal workforce. “We’re going to find billions, hundreds of millions of dollars of fraud and abuse,” Trump said of the largest federal department in an interview with Fox News, an excerpt of which was aired on Sunday morning. “And, you know, the people elected me on that.” …

Business Planning Foreign General News

China consumer inflation picks up as holiday boosts spending

Beijing, Feb. 10, 2025 – China’s consumer inflation accelerated for the first time since August, caused by a burst of household spending around the Lunar New Year holiday even as deflationary pressures persist. The consumer price index rose 0.5% in January from a year earlier, the National Bureau of Statistics said Sunday, compared with a 0.1% gain in the previous month. The median forecast of economists surveyed by Bloomberg was a 0.4% increase. A temporary spending boom during the eight-day break briefly masked the extent of the deflationary challenge facing …

Business Planning Foreign

Trump to announce 25% steel and aluminum tariffs Monday in latest trade escalation

ABOARD AIR FORCE ONE, Feb. 10, 2025 – U.S. President Donald Trump said on Sunday he will introduce new 25% tariffs on all steel and aluminum imports into the U.S., on top of existing metals duties, in another major escalation of his trade policy overhaul. Trump, speaking to reporters on Air Force One on his way to the NFL Super Bowl in New Orleans, said he will announce the new metals tariffs on Monday. He also said he will announce reciprocal tariffs on Tuesday or Wednesday, to take effect almost …

Business Planning

China tariffs could drive US crude exports lower in 2025

Houston, Feb. 7, 2025 – An emerging trade war between the United States and China could drive U.S. crude exports lower in 2025 for the first time since the pandemic by reducing access to the Chinese market, according to analysts. That outlook reflects a potential unintended consequence of President Donald Trump’s protectionist policies, running counter to his administration’s vow to maximize already record-high U.S. oil and gas production. The U.S. has grown into the world’s third-largest exporter behind Saudi Arabia and Russia since it lifted a 40-year federal ban on …

Business Planning General News

LASG to begin full enforcement of ban on single use plastics – commissioner

Lagos, Feb. 3, 2025 – The Lagos State Government is to commence full enforcement of the ban on single use plastics in the state. Tokunbo Wahab, the state Commissioner for the Environment and Water Resources, disclosed this at a meeting with members of the Food and Beverages Recyclers Alliance (FBRAN). Kunle Adeshina, the Director (Public Affairs) in the ministry, gave details of the meeting in a statement on Thursday. According to the the statement, the state commissioner said Lagos State Government had begun enforcement of the ban since January 2025. …

Business Planning Investment

Nigeria showcased readiness for investments at Davos – TMV

Abuja, Jan. 30, 2025 – The Tinubu Media Volunteers has applauded the President Bola Tinubu administration for using the attendance at the World Economic Forum at Davos Switzerland to showcase Nigeria’s preparedness for foreign direct investments. The group said it noted the positive exposure of the business opportunities in the country to the gathering of world leaders as encapsulated in the revelation by the Minister of Finance Mr. Wale Edun to the Bloomberg media that the implementation of critical reforms has stabilized the Nigerian economy. A statement signed by Chukwudi …

Business Planning Money market

Dollar steadies ahead of Fed decision

Washington, Jan. 29, 2025 – The dollar steadied on Wednesday ahead of the U.S. Federal Reserve’s policy decision, with investors on edge for hints of how much interest rates might fall this year, while they broadly expect the central bank to keep policy unchanged for now. Expectations that trade policies under President Donald Trump could boost U.S. growth, but also push up inflation, had left markets betting on higher-for-longer interest rates in the lead-up to the inauguration, which in turn supported the dollar. But as the tariff action investors had …