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The trade concession, announced on Thursday by the Ministry of Trade, comes as East Africa’s largest economy remains heavily dependent on imports from China.

To avoid an artificial spike in December’s headline inflation, the NBS replaced the single-month reference point, set as December 2024 during last year’s rebasing, to a 12-month index reference period averaging all months of 2024.

When Musa, a food commodities trader in southwest Nigeria, secured a buyer in Accra, the distance looked manageable. The route hugged the Atlantic coastline, demand was strong, and the margins worked on paper. Then came the borders.

Nigeria’s new tax reform redraws how companies structure themselves, by widening the tax net while scaling back the myriad of overlapping levies previously imposed on large businesses.
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Zambia’s external debt rose to $16bn in Q3 2025, driven by growing reliance on multilateral loans as market access stayed limited after its 2020 default.

For most investors and exporters, trade agreements matter only when they start changing costs, timelines, and risk. Until then, they remain political documents. Nigeria’s engagement with the African Continental Free Trade Area largely fell into the second category for years.

Egypt and Afreximbank are studying a pan-African Gold Bank to anchor gold refining, vaulting and trading on the continent and reduce reliance on offshore hubs.

After two years of tightening, African central banks split in 2025—some cutting aggressively as inflation eased, others holding firm to protect currency stability and anchor hard-won disinflation gains.