Business

Nigeria’s Inflation To Rise, Trump May Reverse Tariffs — Rewane

Published

6 months ago

April 8, 2025

Cyril Ogar

Economist Bismarck Rewane says the recent increase in the price of petrol may cause a rise in Nigeria’s inflation rate from 23.18%.

“There might be an increase in the rate of inflation because of the increase in the price of petrol but we haven’t seen the corresponding increase in the prices of transport fares so far,” he said on Channels Television’s Business Morning show on Tuesday.

“What we’ve seen in the last few days is that food commodity prices have increased, coupled with the fact that the planting season is here.”

The Managing Director of Financial Derivatives Company Limited said uncertainties and the fears of recession have become very palpable with the imposition of tariffs on imported products to the United States by the Donald Trump presidency.

Rewane said the prices of gold and crude oil have been impacted by the tariff war started by the Trump presidency.

He said, “The United States has disrupted things with its policy initiatives. The United States, I think, will reverse some of those decisions when they begin to impact everybody. We are in a political system. 2026 is going to be mid-term elections and I think the United States is going to begin to retrace some of its steps.”

The economist, however, cautioned against panic, saying the volatility would be for a short while.

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Business

NEXIM Bank Secures Bbb+ Rating from Agusto & Co., Declares ₦30.47 Billion Operating Profit

Published

5 days ago

October 2, 2025

The Gleamer

By Joel Ajayi

The Nigerian Export-Import Bank (NEXIM) has been assigned a Bbb+ rating by leading credit rating agency Agusto & Co. Limited, affirming its satisfactory financial condition and strong capacity to meet obligations relative to other development finance institutions (DFIs) in Nigeria.

For the year ended 2024, NEXIM Bank reported an operating profit of ₦30.47 billion, more than double the ₦13.75 billion recorded in the previous year. This remarkable growth underscores the Bank’s financial resilience and operational efficiency.

Established to promote Nigeria’s non-oil exports and support import-substituting businesses, NEXIM is fully owned by the Federal Government of Nigeria through equal shareholding by the Central Bank of Nigeria (CBN) and the Ministry of Finance Incorporated (MOFI).

The Bank has sustained strong liquidity and capital adequacy ratios, alongside notable growth in its loan book and equity investments. Key sectors supported include manufacturing, agriculture, solid minerals, and services.

According to Managing Director, Mr. Abba Bello, NEXIM has intensified its intervention in the non-oil export sector, disbursing over ₦495 billion and facilitating the creation and sustenance of more than 36,000 direct and indirect jobs.

Among the Bank’s key initiatives are:The Regional Sealink Project: A public-private partnership designed to improve maritime logistics across West and Central Africa. Promotion of Factoring Services: Offering alternative export financing solutions for SMEs. And Joint Project Preparation Fund (JPPF): Implemented in partnership with Afreximbank to enhance the bankability of export projects.

Additionally, NEXIM is developing tailored financing schemes for the mining sector, including Contract Mining, Equipment Leasing, and Buyers’ Credit/ECA Financing, aimed at unlocking export potential and boosting foreign exchange earnings.

With its renewed drive, NEXIM Bank remains committed to building local processing capacity, advancing Nigeria’s competitiveness in global trade, and strengthening non-oil export revenues by moving up the commodity value chain.

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