President Bola Ahmed Tinubu and President Paul Kagame have agreed to strengthen Nigeria–Rwanda cooperation through renewed diplomatic and economic engagement, according to a report by Channels Television.   The two leaders reached the agreement during a meeting at the Urugwiro Presidential Villa in Kigali, where President Tinubu arrived for the Africa CEO Forum. Discussions focused on activating mechanisms to deepen bilateral relations and reviving the Joint Permanent Ministerial Commission (JPMC), originally signed in 2021.   Both presidents agreed that the JPMC should be reactivated as a key platform for advancing shared priorities. They also agreed that Nigeria should host the next meeting of the commission.   On consular matters, President Tinubu indicated that Nigeria would consider reciprocating Rwanda’s 30-day visa-free policy for Nigerians, in line with broader Pan-African integration goals.   The leaders also reviewed pending Memoranda of Understanding covering tourism, illicit drugs, and anti-corruption cooperation. They reaffirmed support for the African Continental Free Trade Agreement (AfCFTA), with both sides exploring ways to improve trade execution between the two countries.   According to Channels Television, discussions also included expanding air cargo connectivity, with Nigeria in talks with RwandAir to support export opportunities for Nigerian businesses. This follows Nigeria’s earlier establishment of a cargo corridor with Uganda Airlines aimed at improving regional trade flows.   The Africa CEO Forum, where the discussions took place, is expected to further strengthen investment and trade partnerships across the continent.

A new International Monetary Fund (IMF) report has highlighted deepening weaknesses in Nigeria’s budget execution system, warning that persistent gaps in planning and implementation are undermining fiscal stability and long-term development outcomes, according to The Guardian Nigeria.   The report, titled Budget Credibility in Sub-Saharan Africa, said Nigeria and several African countries continue to struggle with revenue shortfalls, weak expenditure control and repeated deviations from approved fiscal plans, leading to widening deficits and delayed infrastructure delivery.   It noted that Nigeria’s 2026 budget implementation has already been affected by structural issues, including delayed passage, overlapping budget cycles and optimistic revenue assumptions based on oil output and exchange rate projections that are not being met in practice.   The IMF further warned that chronic budget overruns and weak fiscal discipline are eroding investor confidence and weakening accountability, with capital projects often postponed or cut when revenue falls short, worsening infrastructure and social service gaps.

President Bola Ahmed Tinubu has directed the Federal Housing Authority (FHA) to develop 195 housing units in Ogun State, as part of efforts to expand Nigeria’s national housing stock, according to The Guardian Nigeria. The project was flagged off on Wednesday at Ofada, Obafemi Owode Local Government Area, where the FHA held a groundbreaking ceremony for the Gateway Estate. FHA Managing Director and Chief Executive, Hon Oyetunde Ojo, said the initiative aligns with the President’s directive to scale up housing delivery since the current administration took office. He noted that the estate would add approximately 195 to 200 housing units to the national stock. The development is being executed through a Public-Private Partnership involving FHA, Greenpasture Homes Ltd, and Akkenog International Company Ltd. It will comprise 95 units of two-bedroom terraces and 100 units of three-bedroom terrace duplexes. According to FHA, the PPP model remains central to its housing strategy, allowing collaboration with private developers to accelerate delivery across the country. Officials at the ceremony also highlighted infrastructure upgrades in the area, including road reconstruction along the Shagamu–Owode axis, which they said has enhanced the value of the emerging estate. The FHA reiterated its commitment to delivering quality housing while urging continued cooperation from host communities to ensure smooth project execution.

Importers operating under the Importers Association of Nigeria (IMAN), South West Zone, have rejected a proposed shipping tariff hike announced by major shipping companies in the country, according to a report by The Nation Online Nigeria.   The group raised concerns after a stakeholders’ meeting held in Lagos, where shipping firms reportedly outlined plans to increase charges by 30 to 40 per cent following what they said was approval from the Nigerian Shippers’ Council.   Acting Chairman of IMAN, Joseph Ajoku, said the association was not properly consulted before the announcement, insisting that an existing memorandum of understanding requires stakeholder engagement before any tariff adjustments.   He warned that importers could take legal action if the new charges are implemented without due process, noting that business groups, including the Lagos Chamber of Commerce and other stakeholders, had expressed similar concerns.   Ajoku said the proposed shipping tariff hike could significantly raise the cost of clearing cargo at Nigerian ports, particularly Apapa Port in Lagos, where clearing a container already costs between ₦15 million and ₦16 million.   He added that the increase could push costs close to ₦20 million, worsening pressure on import-dependent businesses already struggling with low sales and reduced consumer purchasing power.   The IMAN leader also criticised what he described as additional charges linked to empty container movement and storage, arguing that such operational costs should not be transferred to importers.   He further alleged that rising port charges are encouraging cargo diversion to neighbouring countries such as Benin Republic and Ghana, where clearance processes are cheaper.   Ajoku maintained that importers are not opposed to adjustments in principle but insisted that any shipping tariff hike must follow proper consultation and transparent engagement with stakeholders.   He warned that continued increases could fuel inflation and further strain consumers, as importers would ultimately pass higher costs on to end users.