Nigeria’s stock market has shed more than N11 trillion from its recent peak, sparking fresh debate among investors over whether the ongoing downturn presents a buying opportunity or signals deeper market concerns. After a remarkable rally earlier in the year, the Nigerian Exchange (NGX) has entered a correction phase, with the All-Share Index declining and […]
Global Tech Sell-Off Deepens as Nasdaq Futures Slide on Rising AI Infrastructure Costs
Stock futures fell sharply on Friday as investors continued to retreat from technology stocks, extending a global market sell-off fueled by concerns over the soaring costs of artificial intelligence infrastructure. Nasdaq-100 futures dropped 1.2%, while S&P 500 futures slipped 0.5%. Dow futures were comparatively resilient, falling just 67 points, highlighting a growing shift away from […]
Apex African Gas Expands Capacity to 110 Tons Daily with N10 Billion Lagos Plant Investment
Apex African Gas Nigeria Limited has taken a major step in strengthening Nigeria’s industrial gas sector with the commissioning of a new 70-ton-per-day Air Separation Unit plant in Satellite Town, Lagos. The facility, valued at more than N10 billion, raises the company’s total production capacity to 110 tons per day, positioning it among the country’s […]
Dangote Slashes Petrol Price by N50 as Falling Crude Oil Prices Raise Hopes for Cheaper Fuel
Nigeria’s fuel market received a fresh boost on Thursday as Dangote Petroleum Refinery announced a N50 reduction in its petrol gantry price, bringing the cost down from N1,175 to N1,125 per litre. The price adjustment comes amid a sustained decline in global crude oil prices following easing tensions in the Middle East, a development that […]
Tax Compliance Key to Nigeria’s Economic Growth, Says Oyedele
Nigeria could witness unprecedented economic growth if it succeeds in improving tax compliance across the country, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has said. According to him, the nation’s biggest challenge is not the need for higher taxes but ensuring that individuals and businesses who are legally required […]
Ceramic Industry Investment Key to Nigeria’s $1 Trillion Economy Goal, Experts Say
Nigeria’s journey toward becoming a $1 trillion economy by 2030 could receive a significant boost from the ceramics industry if the right investments, policies and infrastructure are put in place, industry experts have said. Speaking at the Nigeria Ceramic Investment Summit and Product Exhibition 2026 in Lagos, stakeholders described the sector as an untapped economic […]
CBN Data Localization Policy Set to Spark Data Centre Investment Boom in Nigeria
Nigeria’s digital infrastructure sector is gearing up for a major transformation following the Central Bank of Nigeria’s (CBN) directive requiring banks, fintech firms, payment service providers, and mobile money operators to store customer and transaction data within the country by January 1, 2027. Industry leaders believe the move could trigger a wave of investments in […]
Nigeria’s exports to East, Southern Africa hit N1tn
Nigeria’s exports to East and Southern African countries have crossed the N1 trillion mark for the first time, highlighting the growing impact of regional trade agreements and improved market access across the continent. According to data from the National Bureau of Statistics, exports along the East-Southern Africa trade corridor surged to N1.03 trillion in the […]
AI Stock Selloff Deepens as Tech Giants Face Rising Costs and Investor Jitters
Technology stocks across Asia, Europe, and the United States came under intense pressure on Friday as investors continued to pull back from artificial intelligence-related shares, sparking a broad AI stock selloff that rattled global markets. Concerns over the soaring costs of building and maintaining AI infrastructure weighed heavily on sentiment, sending semiconductor companies and major […]
Patronus AI Raises $50 Million to Build Digital Worlds That Put AI Agents to the Ultimate Test
As artificial intelligence agents become increasingly capable of handling complex tasks on their own, ensuring their reliability has become one of the industry’s biggest challenges. San Francisco-based startup Patronus AI is tackling that problem head-on after securing $50 million in a Series B funding round aimed at expanding its unique technology that tests AI agents […]
Apple Raises Mac and iPad Prices by Up to 25% as AI-Driven Chip Demand Pushes Costs Higher
Apple has increased the prices of its Mac and iPad product lines by as much as 25%, citing a sharp rise in the cost of memory and storage chips as demand for artificial intelligence infrastructure continues to surge worldwide. The move comes just days after Apple CEO Tim Cook warned that escalating component costs could […]
Treasury Yields Slip as Inflation Concerns and Middle East Tensions Keep Markets on Edge
U.S. Treasury yields moved lower on Friday as investors closely monitored the latest inflation data and renewed geopolitical tensions in the Middle East. Despite fresh concerns surrounding the region, declining oil prices helped ease some pressure on financial markets, leading traders to reassess the outlook for interest rates and economic growth. The benchmark 10-year Treasury […]
Nigerian Stock Market Extends Losses as Investors Wipe Out N959bn in One Day
The Nigerian stock market suffered another major setback on Thursday as persistent sell-offs erased N959 billion from investors’ wealth, extending the market’s bearish run. The decline was largely driven by heavy losses in key stocks, including Aradel Holdings, Oando, Nigerian Exchange Group (NGX), Transcorp and Wema Bank, reflecting growing caution among investors amid continued market […]
Nigeria Surpasses OPEC Quota as Energy Marketers Push for Increased Oil Investment
Nigeria’s recent success in exceeding its Organisation of Petroleum Exporting Countries (OPEC) oil production quota has sparked fresh calls for greater investment in the nation’s upstream oil sector. Energy marketers say the milestone demonstrates the country’s potential to significantly increase crude oil output if more resources are directed toward exploration and production activities. Industry stakeholders […]
Intra-African Trade Hits $213.8 Billion as AfCFTA Drives Regional Economic Growth
Africa’s push for deeper economic integration is yielding positive results as intra-African trade climbed by 5.5 percent in 2025, reaching an estimated $213.8 billion compared to $202.7 billion recorded in 2024. According to the latest African Trade Report released by the African Export-Import Bank (Afreximbank), the increase reflects growing economic activity and stronger commercial ties […]
Africa’s top 15 agro-exports driving trade growth
Africa’s agricultural sector is proving to be one of the continent’s strongest economic engines, with cocoa, coffee, cashews, tea and olive oil emerging as the leading export commodities driving trade growth in 2026. New first-quarter trade figures show that several African countries are earning significant foreign exchange from agriculture, highlighting the sector’s growing importance in […]
Asia Stock Markets Tumble as Tech Sell-Off Sparks Fears Over AI Spending and Rising Costs
Asian stock markets suffered steep losses on Friday as investors rushed to sell technology stocks amid growing concerns that soaring valuations in the sector may no longer be justified. The sharp decline was fueled by worries over rising production costs, weakening consumer demand, and the massive investments technology companies are making in artificial intelligence infrastructure. […]
Nigerian Banks Grow Stronger as Private Sector Credit Declines Despite Record Capital Growth
Nigeria’s banking sector is experiencing a remarkable paradox. While banks are stronger and better capitalized than ever before, the flow of credit to businesses is shrinking. Twelve listed banks increased their combined shareholders’ funds from N21.97 trillion in 2024 to N27.77 trillion in 2025, representing a 26.4 percent increase. However, private sector credit as a […]
Dangote Refinery IPO Frenzy Sparks Investor Rush as SEC Issues Warning
The anticipation surrounding the highly awaited Dangote Refinery IPO has reached fever pitch, prompting Nigeria’s Securities and Exchange Commission (SEC) to step in and caution investors against unofficial investment schemes. The regulator recently warned that no application for the refinery’s public offering has been filed or approved, despite a flood of promotional materials, investment solicitations, […]
Dangote refinery eyes $2bn in historic listing – Report
Africa’s largest refinery is preparing to make history as Dangote Petroleum Refinery moves closer to a landmark public listing that could raise up to $2 billion and become the biggest Initial Public Offering (IPO) ever seen on the continent. According to a Bloomberg report, the planned September 2026 listing has already sparked intense interest from […]
Banks’ Non-performing Loans Rise To 9.85% After CBN’s Forbearance Withdrawal
Nigeria’s banking sector has recorded a sharp rise in non-performing loans (NPLs), with the ratio climbing to 9.85 per cent in February 2026 following the Central Bank of Nigeria’s (CBN) withdrawal of regulatory forbearance. The latest figure, disclosed in the apex bank’s February 2026 Economic Report, marks a significant increase from 8.03 per cent recorded […]
Tinubu Urges Africa to End Raw Material Exports, Embrace Industrialisation for Economic Growth
President Bola Tinubu has challenged African nations to break away from the decades-long cycle of exporting raw minerals while importing expensive finished products, warning that the practice continues to deprive the continent of its true economic potential. Speaking at the Fifth African Natural Resources and Energy Investment Summit in Abuja on Wednesday, the President said […]
El Niño Threatens Nigeria’s Power Supply as Hydropower Generation Faces Major Setback
Nigeria’s electricity sector could be heading toward another period of instability as climate experts warn that the ongoing El Niño weather phenomenon may significantly reduce hydropower generation across West Africa. A new report by BMI, a Fitch Solutions company, revealed that prolonged drought conditions linked to El Niño could lower water levels at major hydroelectric […]
Trump Targets Exxon, Chevron, Shell, and BP as Gas Price Probe Intensifies
President Donald Trump has escalated pressure on some of the world’s largest oil companies, accusing Exxon, Chevron, Shell, and BP of failing to pass lower crude oil prices on to American consumers. The remarks come days after the administration announced a federal investigation into potential fuel price-gouging, raising fresh concerns about the cost of gasoline […]
Oil price falls to levels not seen since before Iran war
Global oil prices have fallen to levels not seen since before the Iran conflict began, offering relief to consumers and businesses concerned about rising energy costs. Brent crude, the international benchmark for oil prices, briefly dropped below $72.50 per barrel before recovering slightly, marking a significant turnaround after months of market volatility triggered by tensions […]
Nigeria’s Tech Sector Backs 2027 Data Localisation Deadline as Digital Economy Gains Momentum
Nigeria’s technology industry has expressed growing confidence ahead of the Central Bank of Nigeria’s (CBN) January 1, 2027 deadline requiring financial institutions to localise critical data within the country. Industry leaders believe the policy will strengthen Nigeria’s digital economy, boost national data sovereignty, and create new opportunities for innovation in artificial intelligence and cloud infrastructure. […]
Nigeria’s Intra-African Trade Hits $9bn as AfCFTA and Policy Reforms Drive Growth
Nigeria’s trade with other African countries climbed to $9.02 billion in 2025, marking a significant increase from the $7.47 billion recorded the previous year. According to the African Export-Import Bank (Afreximbank), the growth was fueled by strategic policy reforms, improved trade infrastructure, and expanding opportunities under the African Continental Free Trade Area (AfCFTA). The development […]
Micron Stock Soars 16% as AI-Driven Earnings Smash Expectations
Micron Technology stunned investors on Thursday as its shares jumped more than 16% in premarket trading following a blockbuster earnings report that highlighted the powerful impact of the artificial intelligence boom on the semiconductor industry. The memory chip manufacturer reported explosive growth in its fiscal third quarter, exceeding Wall Street expectations and reinforcing its position […]
Elon Musk Loses Trillionaire Status as Tech Market Sell-Off Hits SpaceX
Elon Musk has fallen below the trillionaire threshold just weeks after making history as the world’s first trillionaire, following a sharp decline in SpaceX and Tesla stock prices. According to the Bloomberg Billionaires Index, Musk’s net worth dropped to an estimated $957 billion on Tuesday, down from more than $1.11 trillion less than two weeks […]
Dangote Refinery Rejects Togo Fuel Re-Import Claims, Calls Allegations Misleading
Nigeria’s largest refinery, Dangote Petroleum Refinery and Petrochemicals, has strongly denied reports suggesting that fuel exported from its facilities is being re-imported into Nigeria through the Lomé trading hub in Togo. The company described the claims as misleading and unsupported by facts, insisting that such a practice would go against its mission of strengthening local […]