This week in Nigeria began with a mix of reform, innovation, and cultural pride.

From a €18.3 million climate-smart agriculture initiative backed by the EU and Germany to Nigeria Customs’ new duty-free threshold aimed at boosting e-commerce, the country is making strategic moves to modernize trade and strengthen rural economies.

At the same time digital platforms continue to reshape access to global markets. Meanwhile, fiscal measures such as the postponed fuel surcharge reflect ongoing efforts to balance economic reform with realities of inflation and living costs.

On the cultural and sporting fronts, Nigeria celebrated two remarkable feats; Olympic sprint star Tobi Amusan secured a silver medal in Tokyo 2025 World Championships, while celebrity chef Hilda Baci officially broke the Guinness World Record for the largest serving of Nigeria-style jollof rice, a proud statement on the nation’s rich culinary heritage.

It’s already well past 9:30 PM on an eventful Monday from Nigeria’s capital as I hit send on this one. Let’s dive in.

Samuel Okocha, Editor, 234Digest here.

Quote of the day

“Support has the power to turn heavy dreams into living realities. What happened here was beyond a record; it was a testimony of unity, love, and faith. People came from near and far, friends, colleagues, fans, and family, all standing shoulder to shoulder with me.”

— Hilda ‘Baci’ Bassey, Nigerian celebrity chef and world record cooking attempt

Today’s briefs

EU, Germany and Nigeria launch €18.3m climate-smart agriculture initiative

The European Union, Germany, and the Nigerian government have launched the €18.3 million EU-VACE TARED (Agriculture Value Chain Facility - Transformative Agricultural Systems for Rural Economic Development) project aimed at promoting climate-resilient agriculture farming and bolstering key value chains including cocoa, dairy, maize, sorghum, soya beans, tomatoes, and ginger.

Set to run through 2028 and implemented by GIZ, the initiative seeks to create decent jobs for women and youth across seven states, while supporting Nigeria’s rural economy and aligning with the EU’s Global Gateway strategy.

Nigeria delays contentious 5% fuel surcharge amid economic hardship

Nigeria’s Finance Minister Wale Edun has confirmed the fuel surcharge outlined in the new Tax Act won’t take effect until until January 2026. The surcharge, expected to generate 796 billion naira annually, targets petrol, diesel, and aviation fuel and other petroleum-based fuels.

The move comes as the government seeks to avoid worsening the already strained cost-of-living for Nigerians, following subsidy removals and currency devaluations under President Bola Tinubu’s reform agenda.

Nigeria Customs Service introduces $300 De Minimis duty-free threshold to boost trade and e-commerce

Nigeria’s push to streamline its trade and bolster its e-commerce sector got a boost after the Custom Service announced a new De Minimis policy aimed easing import costs and reducing clearance delays.

Effective September 8, the policy allows duty-free clearance for imported goods valued at $300 or less, a measure that targets low-value consignments, including e-commerce parcels and passenger baggage. Individuals can benefit from the exemption up to four times annually, provided items are not prohibited or restricted.

The introduction of the policy is expected to is expected to stimulate Nigeria’s e-commerce sector, aligning with global trade facilitation standards and enhancing the country’s position as a regional logistics hub. Customs officials have warned that attempts to evade duties will incur strict penalties, including forfeiture and arrest, hammering home the importance of compliance.

Nigerian sprint queen Tobi Amusan clinches silver in 100m hurdles at Tokyo 2025 World Championships

Nigeria’s world record holder, Tobi Amusan, continued her global athletic excellence by winning silver in the women’s 100m hurdles final in Tokyo, clocking 12.29 seconds.

She was narrowly edged out by Switzerland’s Ditaji Kambundji, who set a national record of 12.24 seconds. The performance bolsters Nigeria’s strong presence on the global athletics stage.

Nigerian chef Hilda Baci sets Guinness World Record for largest serving of Nigerian-style jollof rice

Guinness World Records has officially confirmed that celebrity chef Hilda Baci prepared the largest serving of Nigerian-style jollof rice, weighing 8,780 kilograms (19,356 pounds 9 ounces) at an event on September 12, 2025, at Eko Hotels and Suites in Lagos.

The record-breaking feat, part of the Gino World Jollof Festival, attracted thousands of attendees and a team of over 300 collaborators who cooked the dish in a custom-made pot with a 22,619-liter capacity.

Baci, who first gained global recognition in 2023 for the longest individual cooking marathon, described the accomplishment as a proud celebration of Nigerian culture and a statement of Nigeria’s stature as the giant of Africa, famous for its jollof rice.

South African crypto exchange Luno launches tokenised stock trading in Nigeria

Luno, Africa-founded cryptocurrency platform, has introduced tokenised stocks linked to global blue-chip companies like Tesla and Nvidia to the Nigerian market, enabling small-scale investors to access international equity markets in a regulated environment.

This move, leveraging blockchain and crypto infrastructure, aims to promote financial inclusion by lowering entry barriers for ordinary Nigerians.

Nigerian Creator Economy valued at over $31 million in new government report

The inaugural Nigerian Creator Economy Report highlights rapid growth in digital content creation, with significant gains in streaming revenues, YouTube views, Nollywood box office earnings, and podcast listenership.

According to the report titled, The State of the Nigerian Economy: Content, Culture, and Cashflow, while the creator economy is valued at $31.2 million in 2025, its potential is in the billions.

Despite significant growth, the report identifies a monetisation gap where the majority of creators earn under $100 monthly, underscoring challenges in converting cultural capital into sustainable income.

Bambara Nut Association targets 10 million metric tons in output to boost health and economy

The National Bambara Nut Producers Association is aiming to significantly boost Bambara nut production from 100,000 metric tons to 10 million metric tons within the next two years.

This ambitious plan aligns with the country’s strategy for agricultural diversification and health sector development, given the nut’s medicinal properties.

(You can learn more about Bambara nuts in this special podcast on Euronews produced in 2022, featuring my original reporting from Lagos)

Nigeria needs nearly 22% annual GDP growth to hit $1 trillion economy target by 2031, Afrinvest warns

Afrinvest, a Lagos based investment firm, predicts that achieving a $1 trillion economy in Nigeria by 2031 requires sustained 21.9% yearly growth at a stable exchange rate of N1,500 to the dollar, or slightly lower growth with currency strength.

In its 20th Nigeria Banking Sector Report 2025, the firm emphasizes bold and transparent reforms via the ACT-BOLD framework and calls for the banking sector’s active role in unleashing broad-based growth.

Visa underscores Nigeria's vital role in Africa’s digital payments revolution

Visa’s regional president, Tareq Muhmood, has highlighted Nigeria’s centrality in digital financial innovation, citing partnerships with banks, fintechs, and regulators to expand secure payment solutions.

In an interview with Thisday newspaper, Tareq Muhmood notes Visa is promoting financial literacy and fraud prevention initiatives to bolster inclusion for individuals and SMEs. With the African Continental Free Trade Area facilitating cross-border transactions, Visa looks to support seamless, affordable commerce across the continent.

Words of wisdom: "Innovation distinguishes between a leader and a follower"—Steve Jobs

Photo of the day

And that’s a wrap for today.

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Until the next dispatch, have a fantastic week ahead.