Business
Full List: FG Bars Import of Poultry, Medicines, Cement from Non-ECOWAS Nations
BY GABRIEL MICHEAL—The Federal Government has prohibited the entry of poultry-related items, cement, medicines, and agricultural goods originating from countries outside the Economic Community of West African States (ECOWAS).
In a directive released by the Federal Ministry of Finance and endorsed by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, authorities listed 17 categories of products now restricted from being brought in through the nation’s ports. The move is expected to significantly affect importers, freight handlers, and end users.
A key aspect of the directive is the broad limitation placed on pharmaceutical imports. The updated Trade Import Ban list applies specifically to selected goods coming from non-ECOWAS nations.
The directive also introduces an Import Adjustment Levy affecting 192 tariff classifications, with a plan for gradual removal in line with Nigeria’s obligations under the African Continental Free Trade Area (AfCFTA).
According to the statement, beginning January 2027, these levies—except those on items under the AfCFTA’s 3 per cent category—will be reduced yearly until they are completely eliminated by 2036.
Additionally, the government confirmed that excise charges, including an environmental surcharge, will take effect from July 1, 2026, with a 90-day window provided for compliance.
The restricted items include:
- Poultry, whether alive or processed, including frozen varieties
- Pork and beef products, including parts such as liver, tongue, and shoulder
- Eggs, except those intended for breeding and research
- Processed vegetable oils, excluding certain types like linseed, castor, olive oil, and crude oils
- Sugar derived from cane or beet, including flavored or colored forms
- Cocoa-based products such as butter, powder, and cakes
- Tomatoes in all forms, including paste and concentrates
- Sweetened or flavored water and other non-alcoholic drinks
- Cement packaged in bags
- Various categories of medicines
- Discarded pharmaceutical products
- Fertilisers containing nitrogen, phosphorus, and potassium (NPK)
- Cleaning products such as soaps and detergents
- Corrugated paper materials including cartons and boxes
- Glass containers exceeding 0.15 litres in capacity
- Coated or plated iron and steel sheets measuring 600mm or more in width
- Ballpoint pens and their components, including ink refills (excluding tips)
The post Full List: FG Bars Import of Poultry, Medicines, Cement from Non-ECOWAS Nations appeared first on Business Today NG.
From left:Nasir El-Rufai with his Lawyers
BY SUNDAY SAMUEL—The Kaduna State High Court on Tuesday denied to grant bail to former governor Nasir El-Rufai, stating that his influence might allow him to obstruct ongoing probes.
According to Justice Darius Khobo, the accusations of financial misconduct are serious enough to warrant keeping him in custody.
He stated that his lawyers will promptly contest the ruling by submitting the required legal documents.
The defence team further claims the charges are driven by political motives, arguing that the trial reflects that intention.
This development follows a previous decision by the Federal High Court in Kaduna, which had approved bail for El-Rufai under strict conditions, subject to meeting those requirements.
Nasir El-Rufai, is facing multiple charges in 2026, primarily involving alleged money laundering, financial crimes, and abuse of office. The Independent Corrupt Practices and Other Related Offences Commission (ICPC) arraigned him on a nine-count charge, including allegations of diverting public funds and receiving proceeds of corruption amounting to over N579 million and $1.1 million.
The post Court Orders Continued Detention of El-Rufai Amid Serious Allegations appeared first on Business Today NG.
President Bola Ahmed Tinubu has endorsed a United States dollar 75 million participation by the Federal Government in fintech company Flutterwave, in a move seen as a boost for Nigeria’s digital economy space.
The funding will be channelled via the Ministry of Finance Incorporated (MOFI) and forms part of Flutterwave’s plan to secure about $250 million through a public share sale.
The African payments company, currently estimated to be worth over $3 billion, reportedly approached the Federal Government in 2025 to take part in the capital-raising exercise as part of efforts to build investor trust and attract state-level confidence.
Prior to approval, authorities commissioned two of the globally recognised “Big Four” audit and advisory firms to scrutinise the company’s books and operations, ensuring full compliance and transparency in the proposed arrangement.
Officials familiar with the development said the decision is aimed at highlighting Nigeria’s tech innovation capacity internationally while opening additional funding channels into the digital sector.
They also noted that the share offering is expected to widen participation, allowing Nigerian investors greater access to ownership in one of Africa’s prominent financial technology firms.
Interest in the deal is already reported to be high, with current shareholders seeking to expand their holdings while new institutional investors position themselves for entry. Market observers believe the offer could attract demand far above expectations, given the company’s expansion trajectory.
The post Tinubu Endorses $75m Flutterwave Deal to Boost Digital Economy appeared first on Business Today NG.
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