The Federal Government of Nigeria, through the National Automotive Design and Development Council (NADDC), is collaborating with Moroccan firms to initiate local manufacturing of electric vehicles. This initiative aims to boost local production capabilities, enhance technological expertise, and reduce reliance on imported vehicles, contributing to economic growth and environmental sustainability. Key partners include E-move Vehicles Company, known for its expertise in battery manufacturing and electric vehicles, and Univers Acier Steel, a supplier of automotive parts. The collaboration is expected to create jobs and support Nigeria's energy transition in mobility.

The Federal Government of Nigeria acknowledges the endurance of its citizens amidst economic reforms, which are now showing positive results. Finance Minister Wale Edun highlights the progress in market-based pricing of Premium Motor Spirit and foreign exchange, indicating fiscal viability and potential economic growth. The Senate Committee on Finance, led by Senator Sani Musa, conducts a fact-finding session to assess the impact of these reforms on crude oil sales and revenue management. Key stakeholders, including the Nigerian National Petroleum Company Limited and the Central Bank of Nigeria, participate in discussions to ensure transparency and accountability in managing national resources.

The Nigeria Customs Service has successfully facilitated Nigeria's first shipment to Kenya under the African Continental Free Trade Area (AfCFTA) Agreement, with Lucky Fibres, a subsidiary of the Tolaram Group, leading the export. The shipment to Mombasa, Kenya, underscores the collaborative efforts between Nigeria and AfCFTA's implementation bodies in Ghana and Kenya. The NCS, recognized as the Designated Competent Authority under AfCFTA, has been commended for its readiness and technological advancements in trade facilitation, aligning with the World Customs Organisation's mandates. This development marks a significant step in enhancing intra-African trade.

The Minister of Power, Adebayo Adelabu, has directed the Transmission Company of Nigeria and other agencies to implement recommendations for overhauling the national grid. A committee set up by the minister identified the need for equipment audits, maintenance improvements, and significant investments from both government and private sectors. The recommendations also include developing frameworks for private investment, enhancing SCADA tools, and combating vandalism. This directive follows a recent grid disturbance, with assurances from the TCN to ensure uninterrupted power supply.

The Nigeria International Airshow, scheduled for April 2025 in Lagos, will host 15 aircraft manufacturers and aims to redefine the aviation industry through investments and global engagements. The event will feature displays of advanced aviation technologies and is expected to attract 3,500 attendees, including decision-makers and investors. It aligns with global initiatives like IATA and ICAO, aiming to facilitate growth and development in the African aviation market.

The Presidency has clarified that Compressed Natural Gas (CNG) cylinders have a lifespan of 15 years, after which they should be replaced to ensure safety. This measure aims to regulate and improve safety standards for CNG use in Nigeria. The announcement comes amid concerns over Malaysia's plan to phase out CNG vehicles by 2025 due to safety concerns. The Nigerian government is developing a monitoring system for CNG vehicles and aims to deliver 100,000 CNG conversion kits by the end of the year, with a goal of converting 1 million vehicles by 2027. The article highlights international efforts to promote CNG, including initiatives in India, Malaysia, Canada, and Germany.

The naira appreciated to N1,639 per dollar after hitting an all-time high of N1,681 due to increased demand in the foreign exchange market. The Central Bank of Nigeria's efforts to defend the naira continue amid market dynamics, despite a boost in foreign reserves to about $40 billion.

Nigeria's first export to Kenya under the African Continental Free Trade Area Agreement (AfCFTA) marks a significant milestone, facilitated by the Nigeria AfCFTA Coordination Office and the Nigeria Customs Service. The shipment from Lucky Fibres, a subsidiary of Tolaram Group, highlights the collaborative spirit of AfCFTA and the commitment to increasing intra-African trade. The Nigeria Customs Service has been praised for its role in trade facilitation, leveraging technology and training to ensure successful exports. The initiative is supported by the AfCFTA Secretariat and aligns with the mandates of the World Customs Organisation.