Nigeria, Global Markets Record Major Business Moves

Nigeria, Global Markets Record Major Business Moves

Nigeria’s economy expanded by 4.23% in Q2 2025, an improvement from 3.13% in Q1, as the government pushes toward a 7% growth target by 2027. In trade policy, Abuja suspended the 4% import levy after industry backlash, while in oil and gas it signed new deepwater contracts with TotalEnergies and Sapetro and led 16 African nations in a pact to harmonize petroleum regulations.

On the global stage, Porsche cut its profit forecast due to weak electric vehicle sales, and HSBCovertook AstraZeneca as the UK’s most valuable listed company. The UK also approved a second runway at Gatwick Airport, a project expected to generate 14,000 jobs and £1 billion annually.

Meanwhile, India and Russia are set to hold a business dialogue on September 26 to deepen cooperation in trade, technology, and investment.

Analysts say these developments reflect shifting business dynamics, with Nigeria pushing reforms at home and international markets grappling with changing demand and infrastructure growth.