55 Years of Partnership and the New Dawn in China–Nigeria Bilateral Relations
China and Nigeria celebrated 55 years of diplomatic ties, marking a shift toward deeper economic integration. The partnership, upgraded to a Comprehensive Strategic Partnership in September 2024, now emphasizes higher‑value trade and industrial transformation. A new Zero‑Tariff Agreement grants qualifying Nigerian products duty‑free access to China’s 1.4‑billion‑consumer market. Both governments are establishing structured mechanisms to translate this policy into measurable export growth and diversification.
Nigeria’s Oil Firms Survive on $7 per Barrel as Insecurity Tames Profit
Nigeria’s indigenous oil producers are surviving on razor‑thin margins of $5‑7 per barrel despite crude prices hovering around $70. Production costs sit near $40 per barrel, but spiralling security expenses and operational losses from theft and pipeline vandalism push total...
Dangote Signs $400 Million Equipment Deal to Fast-Track Refinery Expansion and Boost Petrochemical Capacity
Dangote Group has inked a $400 million deal with China’s XCMG to acquire heavy‑construction equipment that will fast‑track the expansion of its petroleum refinery from 650,000 to 1.4 million barrels per day. The upgrade will also boost petrochemical outputs, including polypropylene, urea...
Real vs Technical Inflation: Which Should Guide Monetary Policy in Nigeria?
Nigeria’s National Bureau of Statistics rebased its Consumer Price Index to a 2024 base year, pulling headline inflation down from 24.48% in January 2025 to 15.15% by December 2025. Critics argue the technical decline masks persistent real inflation, with food prices still...
What Nigeria’s Economy Optimises for — Without Admitting It
Nigeria’s economy is structured to reward navigating bureaucratic friction rather than boosting productivity, efficiency, or innovation. World Bank data shows firms spend over 40% more time on regulations than the regional average, creating a thriving informal ecosystem of brokers, fixers...
EFCC Quizzes El-Rufai, Defends Use of Tear Gas on Protesters
Nigeria’s Economic and Financial Crimes Commission (EFCC) summoned former Kaduna governor Nasiru El‑Rufai for questioning over alleged mismanagement of public funds during his 2015‑2023 tenure. While El‑Rufai complied, supporters stormed the EFCC headquarters in Abuja, prompting operatives to deploy tear gas...
Makoko’s Five-Point Pact: Peace Today, the Implementation Test Tomorrow
After weeks of protests triggered by the Lagos State Government’s demolition of parts of Makoko’s stilt settlement, a five‑point agreement was signed to halt further construction, establish a community compensation committee, define regeneration boundaries, design a resident‑focused Water City project,...
