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BREAKING: Nigeria Finally Signs ECOWAS Tariff Offers Under AfCFTA to Boost Regional trade

Commenting on the development, the Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, said:“ The gazetting and transmission of the ECOWAS Schedule of Tariffs to the AfCFTA Secretariat signals Nigeria’s readiness for trade under the Agreement.

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Nigeria has officially gazetted and transmitted the ECOWAS Schedule of Tariff Offers for Trade in Goods under the African Continental Free Trade Area (AfCFTA) to the AfCFTA Secretariat.

This move comes ahead of the 16th Council of Ministers Meeting on Trade scheduled for April 15 in Kinshasa, Democratic Republic of Congo, and marks a significant milestone in Nigeria’s trade integration efforts.

The gazetted Schedule sets the foundation for implementing zero duties on 90% of tariff lines under AfCFTA, effectively positioning Nigerian goods for improved access and competitiveness across African markets.

This step not only aligns with Nigeria’s regional trade commitments but also reinforces the country’s strategic role in shaping the continent’s single market.

Presidential endorsement and policy direction Signed by President Bola Ahmed Tinubu, the transmission of the ECOWAS Tariff Schedule signals Nigeria’s readiness to trade under AfCFTA’s preferential regime.

Commenting on the development, the Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, said:“ The gazetting and transmission of the ECOWAS Schedule of Tariffs to the AfCFTA Secretariat signals Nigeria’s readiness for trade under the Agreement.

This milestone enables Nigerian exporters to leverage preferential tariff access across African markets, positioning Nigeria as a key player in regional and global trade.” Nigeria first shipped goods under the AfCFTA framework in July 2024.

With this formal gazetting, the country is expected to accelerate its participation in the continental free trade agreement, expanding opportunities for businesses, manufacturers, and exporters.”

(Nairametrics)

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CBN: 60 newly recruits staff laments three years of waiting without engagement

The concerned staff appealed to the CBN Governor, President Bola Tinubu, and other stakeholders to look into their plights, as economic hardship has taken a toll on them after about three years of leaving their jobs.

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• CBN Governor, Olayemi Cardoso

A group of newly recruited staff of the Central Bank of Nigeria (CBN) have cried out over delayed posting and onboarding into various positions since August 28, 2023.

The Guardian reported that according to the employees, the Apex Bank issued the offer, which was followed by an acceptance copy and instructions to resign from their previous places of work, where applicable, as part of documentation.

“We all tendered resignation letters to our former employers at that time to enable us to proceed with the CBN process,” one of the affected employees, Emmanuel Linus Dabo, who spoke on behalf of others,, told newsmen on Monday.

According to him, the application process started in April 2023, where their resumé were submitted to the Headquarters of CBN, and after some time, they received emails from the Human Resources Department for interview and aptitude tests.

“We did a medical examination at the bank’s medical clinic, where a code was given to individual applicants before we could access the hospital.

After the interview and medical and aptitude tests, the successful applicants were contacted by the HR manager to come to CBN Headquarters in Abuja to pick up their offer letter. We filled the acceptance letter without delay,” he said.

He further stated that there was a series of e-mails from the Human Resources office requesting that they forward their credentials for the online documentation, including their acknowledged resignation letters from their previous employers…

The concerned staff appealed to the CBN Governor, President Bola Tinubu, and other stakeholders to look into their plights, as economic hardship has taken a toll on them after about three years of leaving their jobs.

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KPMG, NRS settle rifts over new tax laws

In its newsletter on January 9, KPMG said there are “errors, inconsistencies, gaps, omissions, and lacunae” in the new tax laws that require urgent reconsideration to ensure the achievement of their stated objectives.

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KPMG executives and Zaach Adedeji, chairman of the Nigeria Revenue Service (NRS), held a meeting on Monday following the disagreement over the new tax laws.

In its newsletter on January 9, KPMG said there are “errors, inconsistencies, gaps, omissions, and lacunae” in the new tax laws that require urgent reconsideration to ensure the achievement of their stated objectives

However, on January 10, the presidential fiscal policy and tax reforms committee pushed back against KPMG’s critique, noting that KPMG does not understand the laws.

The committee said a significant proportion of the issues described as “errors,” “gaps,” or “omissions” by KPMG are either the firm’s own errors and invalid conclusions, or matters not properly understood by the firm.

In a statement on Monday, the NRS said that Adedeji hosted a courtesy visit from the delegation of the tax advisory firm.

” During the visit, the KPMG team clarified that their earlier opinion on the new tax laws “had been misconstrued and expressed regret over the misunderstanding.

“They sought further clarity on the provisions of the laws and highlighted areas where recommendations could be made.”

The source said that the meeting ended with the delegation commended the NRS chairman for efficiently and promptly implementing the reforms.

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IMF to release January 2026 World Economic Outlook update on Monday

The January WEO Update is expected to provide revised global growth forecasts and insights into inflation trends, monetary policy direction, and key risks facing the global economy in 2026.

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The International Monetary Fund (IMF) will release its January 2026 World Economic Outlook (WEO) Update on Monday, January 19, 2026.

The report will be presented during a press conference hosted at the National Bank of Belgium in Brussels.

The press conference is scheduled for 10:30 a.m. The Brussels time and will be streamed live via the IMF website and Press Centre, allowing journalists to participate both in person and virtually.

The IMF’s economic assessment will be presented by Pierre-Olivier Gourinchas, Economic Counselor and director of the Research Department; Petya Koeva Brooks, deputy director of the Research Department; and Deniz Igan, Division Chief, Research Department.

The January WEO Update is expected to provide revised global growth forecasts and insights into inflation trends, monetary policy direction, and key risks facing the global economy in 2026.

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