The Nigerian government has raised duties on luxury imported goods such as yachts and Sport Utility Vehicles.The changes will also affect some food items such as rice, salt and sugarcane. Under the new tariffs, importers of the listed items will have to pay 70 percent of the value in taxes. The new rate is a large jump from the current 20 percent. Import duty for the industrial sector has however been cut to spur local industrial growth. The new tariffs have been approved by President Muhammadu Buhari. The plan to raise duties has been pending since former President Goodluck Jonathan was in power.

Eliko Dangote is Africa's richest man according to Forbes and other sources. Estimated net worth $18 billion. And he's throwing his economic weight behind new projects designed to make Nigeria an agricultural powerhouse.

More from DW's business desk: http://www.dw.com/en/top-stories/business/s-1431

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Support Legit.ng via the link: https://corp.legit.ng/support-legit Nigeria Latest News: Over 57 Suspected Gay Newbies Arrested by Police | Legit TV
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Nigeria News Today: The Lagos state police command has paraded about 57 young men suspected to be on the verge of being initiated into a gay 'assembly'.

During the parade, some of the suspects denied being part of the initiation and accused the officers of not being honest with the arrests.

Some of them spoke with NAIJ.com TV.

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From a peak in 2016, the number of Nigerians successfully reaching Italy across the Mediterranean has dropped significantly. Many are them are being repatriated to Nigeria or held in detention centres in Libya. Reality Check investigates these changing migration patterns.

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In central Nigeria, there has been an increase in violent clashes between local cattle farmers and nomadic cattle herders from the Fulani ethnic group.

Nigeria is a major economic and political actor as the largest economy and most populous country in Africa. Yet its heavy reliance on oil reserves overshadows the country’s vast economic potential in manufacturing, tech, and other sectors. Why is Nigeria’s economy performing below its vast potential? What role do Nigeria’s resources, especially its oil wealth, play in this economic underperformance? How do power, politics, and decisionmaking affect this economic development challenge?

Join us for a special event featuring Carnegie Africa Program director Zainab Usman and her latest book, Economic Diversification in Nigeria: The Politics of Building a Post-Oil Economy. Usman will give remarks on the challenge of economic diversification in resource-rich Nigeria, followed by an in-depth panel discussion.

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The Carnegie Endowment advances international peace by leveraging its global network to shape debates and provide decisionmakers with independent insights and innovative ideas on the most consequential global threats and opportunities.

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In this episode of Head to Head, Mehdi Hasan challenges African National Congress (ANC) stalwart Baleka Mbete on whether, in the 25 years since apartheid, her party has betrayed Nelson Mandela's legacy and the dreams of South Africa's rainbow nation.

Over the past quarter century, access to education has significantly improved and the rights of all South Africans to free basic healthcare has been guaranteed.

But the ANC's successes have been overshadowed by rising youth unemployment, recent xenophobic attacks on African immigrants and ongoing allegations of systemic corruption, with former President Jacob Zuma currently facing trial.

From fighting apartheid, Mbete rose to become one of South Africa's most powerful women, serving as deputy president, speaker of the National Assembly, and chair of the ANC.

We ask whether the ANC, and Mbete personally, have done enough to hold Zuma to account, and keep Mandela's dream of a united Africa alive.

Hasan and Mbete are joined by a panel of three experts:

- Makhosi Khoza - former South African politician who resigned from the ANC in 2017, after calling for President Zuma to step down
- Xolani Xala - founder of South African Business Abroad and member of the ANC
- Andrew Feinstein - former South African politician and author of 'After the Party: A Personal Journey Inside the ANC'. He is now director of Corruption Watch UK

Has South Africa's ruling party betrayed Mandela's legacy? With Baleka Mbete, first broadcast on October 18, 2019, at 20:00 GMT with repeats on October 19 at 12:00GMT, October 20 at 01:00 GMT, and October 21 at 06:00 GMT.

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Turkey has signed several agreements with Nigeria that will see its volume of trade increase to over 1 Billion US Dollars in a major push to ramp up commercial and economic co-operation with Africa's most populous nation. President Recep Tayyip Erdoğan arrived in Abuja where he met with President Muhammadu Buhari as part of a wider trip to the African continent. The trip appears to be a significant step in Turkey's attempts to increase its influence on the continent as it prepares to host two major Africa-focused events in Istanbul: a two-day Turkey-Africa Third Economy and Business Summit which starts on Thursday, and a two-day Turkey-Africa Third Partnership Summit in December.
Guest: Bakary Kone is Director at the African Capacity Building Foundation.

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"People are not going to vote because everybody is angry with the government. Everybody is angry with the government. Because we queue for fuel, for your own money that is in your bank you queue for it. They told us to deposit all our money into the bank But now, you can't access your own money"

READ MORE : https://[a]www.africanews.com%2F2023%2F02%2F10%2Fnigeria-anger-frustration-in-kano-over-cash-and-fuel-shortage[/a]

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Authorities in the Nigerian commercial capital of Lagos are working to overcome a severe housing shortage as the city's population continues to grow at a rapid rate. With the current population of 20 million expected to increase to 25 million in about fifteen years, finding a solution is proving challenging

Nobel Laureate Malala Yousafzai has urged Nigeria to put emphasis on education.

The 20 year old Pakistani girls' education activist made the plea during her visit to the West African country on Monday, where almost half of all the learning-age children - 10 million according to government - are not going to school.

Yousafzai became prominent in 2012, after being shot in the head by the Taliban in a school bus. The UN named her a 'Messenger of Peace' in April to promote girls' eduction.

"At t…
READ MORE : http://[a]www.africanews.com%2F2017%2F07%2F18%2Fmalala-asks-nigeria-to-declare-state-of-emergency-for-education[/a]

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*Nigeria President Muhammadu Buhari on Tuesday said the inauguration of the new Seme-Kraker joint border will foster the common interests of Nigeria and the Republic of Benin.*

Buhari made the announcement at the inauguration of the new Economic Community of West African States Border Posts at Seme-Krake and Neope-Akanu in Badagry.

The new border crossing is to facilitate the movement of people and goods between the two countries.

The president of Benin, Patrice Talon said their ambition is t…
READ MORE : http://[a]www.africanews.com%2F2018%2F10%2F24%2Fnigeria-benin-border-to-foster-common-interests-buhari[/a]

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A Nigerian union defied a court ban and proceeded with a general strike on Wednesday protesting against hefty hikes in fuel prices. Many businesses and government offices however opened as usual. The government hopes that lifting costly fuel subsidies will help alleviate the worst economic crisis in decades in Africa's biggest economy. The move however sent fuel pump prices up by as much as two thirds. A wave of strikes ensued the last time Nigeria tried to introduce a similar measure in 2012, and authorities eventually reinstated some subsidies.

The introduction of the student loan bill in Nigeria has been met with mixed reactions as public debate rages on the conditions to access loans and repercussions on loan default.

While this bill seeks to bridge the educational funding gap in the country, there are also fears of a possible increase in tuition in public varsities.

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Nigeria's government is considering changes to the tax regime as part of efforts to overcome the crisis brought on by falling oil prices.Vice President Yemi Osinbajo said that the government is looking at increasing tax coverage. The government plans to increase value-added tax from 5 percent, which is among the world's lowest VAT rates, and broadening the tax base. Osinbajo said that at present they were only collecting just about 20 percent of the potential tax. The sharp drop in crude revenues, which provide 95 percent of foreign earnings, has led to the naira hitting record lows on the parallel market as foreign exchange reserves dwindle. Finance Minister Kemi Adeosun last week announced plans to borrow up to $5 billion from multiple sources, including the Eurobond market, to plug its budget deficit

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