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NACC Reacts to Tariff Increment With Optimism, Emphasizing Long-Term Resilience

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NACC reacts to tariff increment

NACC reacts to tariff increment by urging exporters to seize emerging opportunities in energy minerals and value-added goods amid rising US tariffs

NACC reacts to tariff increment with a message of cautious optimism, urging Nigerian exporters to pivot toward untapped global trade opportunities despite a looming 15% US tariff.

Also read: NACC Strengthens U.S. Partnerships through Trade Mission, Showcases ‘Flavours Without Borders’

At a roundtable in Lagos on August 20, 2025—hosted collaboratively by the Nigerian‑American Chamber of Commerce (NACC) and the Nigerian Export Promotion Council (NEPC)—top industry voices examined the impact of Washington’s updated tariff policy.

NACC President Sheriff Balogun emphasized the upside amid adversity, highlighting that “some of our products attract lower tariffs than our competitors, and this can help us grow exports”.

Indeed, the 15% levy is prompting a reassessment of export strategy.

While the tariff codifies a tough reality, government officials, such as Trade Ministry adviser Tochukwu Nwachukwu, reassured stakeholders that Nigeria will remain responsive—not reactive, focusing on strategic negotiations and broader market diversification.

Adding to the resilience narrative, NEPC announced that Nigeria’s non‑oil exports surged to $3.225 billion in the first half of 2025, a remarkable 19.6% increase from 2024.

Also read: Dr. Jumoke Oduwole honoured with Distinguished Public Service Award by NACC

Analysts point to several hidden opportunities amid the tariff shock. Key natural resources like lithium, cobalt, and manganese present new export niches, while value addition in the cocoa sector—such as cocoa powder or chocolate—can unlock substantial domestic and regional demand.

 

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Culture

Crowds Gather for Rare Sunrise at Egypt’s Abu Simbel Temple

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Abu Simbel

Hundreds of tourists gathered at Egypt’s Abu Simbel temple to witness the twice-yearly sunrise ceremony illuminating Pharaoh Ramses II’s statue

Hundreds of tourists gathered at Egypt’s Abu Simbel temple on Thursday to witness a spectacular sunrise phenomenon in which sunlight illuminated the face of the statue of Pharaoh Ramses II, an event that occurs only twice a year.

Also read: 16 Famous Cultural Festivals That Define India

The ancient astronomical ceremony drew visitors from different parts of the world to the archaeological site in southern Egypt on October 22, one of two dates associated with the phenomenon.

The second occurrence takes place on February 22, when the rising sun illuminates the temple’s interior.

Egyptian tour guide Yasser Fouad described the occasion as extraordinary, saying some visitors had stayed overnight to secure the opportunity to witness the event.

“Today is an extraordinary day, everyone is keen, there are people who stayed over the night, foreigners who actually spent the night in Abu Simbel to see this phenomenon,” Fouad said.

The Great Temple of Ramses II at Abu Simbel dates back to the 13th century BC and is among Egypt’s most prominent archaeological attractions.

Built during the reign of Ramses II, one of ancient Egypt’s most powerful pharaohs, the temple is renowned for its monumental statues and sophisticated architectural design.

The twice-yearly sunrise phenomenon is a major attraction, drawing visitors eager to witness the interaction between sunlight and the temple’s ancient structure.

The dates have traditionally been associated with significant moments in Ramses II’s life.

October 22 is commonly linked to his birthday, while February 22 is associated with his accession to the throne.

However, the precise historical reasons behind the dates remain debated.

Some archaeologists have proposed alternative explanations, including that they may have marked the pharaoh’s coronation and birthday.

Abu Simbel underwent a major international rescue operation in the 1960s, when archaeologists and engineers relocated the temples to protect them from flooding caused by the construction of the Aswan High Dam.

The monumental structures were cut into large blocks and reassembled at a higher location, preserving the site for future generations.

The relocation was one of the most significant archaeological preservation projects of the 20th century.

Despite the move, the temple continues to attract visitors for its ancient Egyptian art, monumental architecture and remarkable alignment with the rising sun.

Also read: 16 Famous Cultural Festivals That Define India

The annual gatherings highlight the enduring appeal of Egypt’s archaeological heritage and the continuing fascination with the astronomical knowledge and engineering achievements of its ancient civilisation.

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Entertainment

Gbenga Adeyinka Brings Laffmattazz 2026 Finale to Lagos

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Laffmattazz

Laffmattazz 2026 Lagos finale will hold on November 15, as Gbenga Adeyinka brings comedy, music, culture and fashion to Victoria Island

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Entertainment

The Headies Announces New Date for 18th Awards Edition

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Headies

The Headies has rescheduled its 18th awards edition to April 10 and 11, 2027, in Toronto, Canada, with industry events continuing

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