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Trump Signs Order Cutting Tariffs on Beef, Coffee, and Other Essential Imports

President Donald Trump signed an order exempting agricultural imports such as beef, bananas, coffee, tomatoes, and more from US tariffs, effective Thursday, to mitigate cost-of-living pressures. This move comes as American voters face rising prices, especially for beef and coffee, which have jumped roughly 20% this year due to climate shocks and disrupted trade. The tariff exemptions also include avocados, coconuts, and pineapples—products not grown in the US in sufficient quantity. Coffee industry leaders praise the decision, saying it will stabilize prices for consumers and secure supply for businesses. The order follows new trade deals with Argentina, Guatemala, Ecuador, and El Salvador, which also benefit from tariff waivers for certain agricultural goods. While Trump’s administration maintains tariffs on some items to address perceived unfair trade practices, these exemptions specifically target commodities critical for domestic demand and affordability. Policymakers acknowledge that […]

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 Nigeria’s Economy Grows But Poverty Still Rising – Report

A new economic report reveals a difficult reality for Nigeria: while the national economy is showing signs of recovery, the number of people living in poverty continues to increase. The report by Quartus Economics states that Nigeria's economy began to stabilize and grow in 2024. It credits this improvement to the "bold but necessary" reforms implemented by President Bola Tinubu in 2023, primarily the removal of the costly fuel subsidy. However, this economic growth has not yet translated into better living conditions for many citizens. The report highlights that the damage from the previous decade (2014-2023) was severe. During that time, the economy shrank significantly in dollar terms while the population grew by over 40 million people. This combination of a smaller economy and a larger population pushed an additional 65 million Nigerians below the poverty line. The report concludes […]

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 Bolivia Elects New President to Tackle Worst Economic Crisis

Bolivians have elected center-right economist Rodrigo Paz as their new president to lead the country through its worst economic crisis in 40 years. Paz, who will take office on November 8, faces major challenges, including 23% inflation, a severe shortage of US dollars, and chronic fuel shortages. His plan involves slashing public spending and moving away from two decades of socialist policies. However, economists warn that these tough measures could risk triggering social unrest in a country that remains deeply divided. The new president will also have to navigate a fragmented parliament, where his party lacks an outright majority, forcing him to build consensus to govern effectively. Despite being barred from the election, former socialist president Evo Morales remains a influential and potentially destabilizing figure. His supporters have warned they will mobilize against the new government if it fails to […]

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 Petrol Price Nears ₦1,000/Litre as Marketers Plan Imports

The price of petrol is approaching ₦1,000 per litre in major Nigerian cities, prompting petroleum marketers to initiate plans for independent importation to stabilize the market. Marketers have blamed the price surge on supply constraints and production issues at the Dangote Refinery, which led private depot owners to significantly increase their ex-depot prices. This has forced retailers, including the NNPC, to adjust pump prices upwards. The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN) confirmed that members of the Depot and Petroleum Products Marketers Association (DAPPMAN) are finalizing arrangements to import petrol. He stated that increased competition from these imports is expected to drive prices down in the coming weeks. Analysts warn that the soaring fuel cost threatens to trigger a fresh wave of price shocks across transportation, food, and manufacturing sectors.

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Tinubu’s Reforms Deepening Poverty, Says Peter Obi

Former Anambra State Governor and Labour Party presidential candidate, Peter Obi, has criticised President Bola Tinubu’s administration, saying its much-publicised economic reforms are failing to lift Nigerians out of poverty. Obi’s comments followed a World Bank report released on October 8, 2025, which revealed that 139 million Nigerians now live below the poverty line—an increase from 87 million in 2023. In a post on X (formerly Twitter) on Tuesday, Obi described the figures as a “heartbreaking reflection” of how poorly the government’s policies have performed. “What this means is that in two years under the watch of the APC regime, over 50 million Nigerians were sent into poverty,” Obi wrote.“This is a heartbreaking reflection of how deeply our nation is failing its citizens.” He expressed concern that instead of treating the report as a wake-up call, the government dismissed it, […]

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UK Unemployment Rises to Highest in Over Four Years

The United Kingdom’s unemployment rate has climbed to its highest level in more than four years, adding pressure to the economy ahead of the government’s upcoming budget announcement. According to figures released on Tuesday by the Office for National Statistics (ONS), the unemployment rate rose to 4.8 percent in the three months to the end of August — the highest since early 2021. This marks a slight increase from 4.7 percent recorded in the previous three-month period ending in July. The rise in unemployment comes as Britain faces sluggish economic growth and persistently high inflation, roughly six weeks before the Labour government unveils its next tax and spending plans. Richard Carter, an analyst at investment manager Quilter Cheviot, said the latest figures highlight growing weakness in the job market.“The latest statistics show some significant cracks are forming in the UK […]

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EBID Adjusts Strategy Amid Trade Tensions and Monetary Easing

Lomé, Sept. 29, 2025 – The ECOWAS Bank for Investment and Development (EBID) is recalibrating its strategy as global trade frictions and shifting monetary policies reshape Africa’s economic outlook. Meeting in Lomé for its 93rd board session, the institution approved $308 million in loans for projects in Guinea and Nigeria. Inflationary Pressures from U.S. Tariffs EBID President George Agyekum Donkor warned that U.S. export tariffs introduced under the Trump administration continue to fuel inflation across African economies. “These taxes increase the price of products and services and generate a direct impact on our economies,” Donkor said. He noted that higher production and service costs are eroding household purchasing power and undermining the competitiveness of local businesses. Leveraging Global Monetary Easing While trade tensions persist, EBID sees opportunities in international capital markets. With the U.S. Federal Reserve cutting rates by 25 […]

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L’inflation recule à 1,1 % en août

Le Togo poursuit sa trajectoire de stabilité des prix. Selon les chiffres publiés vendredi par l’Institut National de la Statistique et des Études Économiques et Démographiques (INSEED), le taux d’inflation est tombé à 1,1 % en août 2025, contre 1,5 % un mois plus tôt. Cette baisse s’explique principalement par le recul des prix alimentaires et des boissons non alcoolisées, en baisse de 9 % sur un an. Tomates, tubercules, légumes et autres denrées de base ont contribué à alléger la pression, compensant la hausse observée sur la viande et les huiles végétales. D’autres secteurs comme les transports, la culture et les loisirs ont également participé à ce ralentissement, traduisant une accalmie plus générale sur le panier de consommation des ménages. Depuis le début de l’année, l’inflation reste contenue. Les autorités mettent en avant les dispositifs de contrôle des prix […]

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Kemi Badenoch warns UK risks repeat of 1976 IMF bailout crisis

Conservative leader Kemi Badenoch has warned that Britain could face a humiliating International Monetary Fund (IMF) bailout, drawing stark parallels with the 1976 sterling crisis. In a BBC interview, cited by PUNCH Online on Tuesday, Badenoch expressed concern that Prime Minister Keir Starmer’s Labour government was steering the country into a “doom loop” of high taxes, fragile public finances, and soaring borrowing costs. She argued that without a robust economic growth plan, the UK risked sliding into fiscal ruin that might force it to seek emergency international aid. “We are not growing enough. If Labour continues with no plan for growth, we’ll end up going to the IMF cap in hand,” Badenoch said. Her comments come amid heightened market jitters, with UK borrowing costs recently hitting a 27-year high before easing. Labour hit back sharply, branding Badenoch’s intervention “astonishing hypocrisy.” […]

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NLC Demands Urgent Minimum Wage Review, Says ₦70,000 Unsustainable

The Nigeria Labour Congress (NLC) and federal civil servants have called on the Federal Government to urgently review the national minimum wage, insisting that the current ₦70,000 is no longer realistic in the face of rising inflation and economic hardship. President Bola Tinubu had signed the new National Minimum Wage Bill into law in July 2024, raising the wage from ₦30,000 to ₦70,000 across the public and private sectors. But workers now argue that the fast-rising cost of living has eroded its value. Recent wage increases in several states have intensified pressure on the federal government. Imo State raised its minimum wage to ₦104,000 in August 2025, while Lagos and Rivers pegged theirs at ₦85,000, with Lagos promising a further rise to ₦100,000 in 2025. Other states like Bayelsa, Niger, Enugu, and Akwa Ibom approved ₦80,000; Ogun and Delta ₦77,000; […]

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