President Bola Tinubu has been told to resign. A key condition has been set for the potential All Progressives Congress (APC) presidential candidate.
The Nigerian government announced plans to secure $500m loan from the World Bank to boost MSME lending in Nigeria through the Development Bank of Nigeria (DBN).
Mexico's new President Claudia Sheinbaum on Tuesday promised to protect the rights of investors as she took office as the country's first woman leader, following a backlash over recent judicial reforms. US Ambassador Ken Salazar warned that the reforms would threaten a relationship that relies on investor confidence in the Mexican legal framework. dr/nro
General Motors reported a dip in third-quarter US auto sales Tuesday, but pointed to growth in sales of electric vehicles and said retail pricing remained steady. GM said average vehicle pricing of $49,349 was in line with its second quarter, with incentives also holding steady.
Ireland on Tuesday unveiled a 2025 budget that includes tax cuts and increased social benefits, and announced a huge surplus in 2024 thanks to billions of euros in Apple back-taxes. The state's 2024 finances have been boosted by 14 billion euros in back-taxes from Apple, after the European Court of Justice ruled in September that the iPhone maker benefited from undue tax advantages in the country.
France's new Prime Minister Michel Barnier pledged new taxes and spending cuts Tuesday to reduce a "colossal" debt, in a policy address that met with a raucous reception from lawmakers who could topple his government at any time. Opportunities to topple the government will abound in the coming months as ministers struggle to get a 2025 budget through parliament before year's end.
Chancellor Olaf Scholz on Tuesday inaugurated US firm IBM's first quantum data centre in Europe, saying Germany aims to be at the forefront of the revolutionary technology. Scholz hailed the data centre as "good news for Germany", adding that Europe's biggest economy needs such "key technologies".
Top European airlines Lufthansa, KLM and Swiss announced Tuesday they were extending their suspension of flights to the Middle East, as tensions spiral throughout the region.
Paris Match, a glossy French weekly known for its celebrity exclusives on Tuesday became part of the media empire of France's richest man Bernard Arnault, after a stint under right-wing tycoon Vincent Bollore's ownership.
Tens of thousands of workers at major ports on the US East and Gulf Coasts went on strike Tuesday in action that could drag on the world's largest economy just ahead of the November presidential election. ILA members began picketing at 14 major ports on the East and Gulf coasts soon after the announcement.
As Nigeria celebrates its 64th independence anniversary, Legit.ng examines some of the major economic issues affecting the country in the last few decades.
Economy
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