Real Time Financial News Website
The recent reforms at OPEC, outlined by Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman, aim to reward countries that invest in their oil industry. These reforms involve giving larger…
Telecommunication firms in Nigeria are working with their regulator, the Nigerian Communication Commission (NCC), to review the prices of their services in light of recent market developments, including the unification…
According to the Central Bank of Nigeria (CBN), currency in circulation in the country increased by 157.27 percent to N2.53 trillion at the end of May. This marked a gain…
The World Bank has highlighted Nigeria’s high inflation rate as a significant factor in pushing an estimated four million people into poverty between January and May 2023. The bank emphasized…
The World Bank has stated that Nigeria stands to save up to 3.9 trillion naira (approximately $5.10 billion) this year through reforms implemented in its foreign exchange market and the…
After the Central Bank of Nigeria (CBN) unified the foreign exchange (FX) market, manufacturers in the country are expressing concerns over the lack of funds, which is slowing down access…
Lafarge Africa Plc has launched its Eco Label branding, which supports the company’s commitment to net zero emissions and aims to promote green construction using lower-carbon footprint products. The company’s…
The Central Bank of Nigeria (CBN) has reported a significant 14.9% year-on-year increase in credit to the private sector, reaching N44.21 trillion in May 2023, compared to N38.46 trillion in…
The World Bank Group has approved a $500 million loan to Nigeria to support women’s empowerment efforts. This funding is part of the Nigeria for Women Program Scale-Up (NFWP-SU) and…
Union Bank Plc has announced that minority shareholders will receive N7.00 per scheme share as consideration for the transfer of shares from Titan Trust Bank Limited. This resolution was passed…
Power distribution companies (Discos) in Nigeria have retracted their earlier announcement of a tariff hike scheduled for July 1, 2023, stating that the Nigerian Electricity Regulatory Commission (NERC) has not…
According to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Nigeria’s oil production has fallen below the target set by OPEC in the first five months of 2023. The…
Nestle, a major food company, is increasing its sourcing of local raw materials such as starch and turmeric in Nigeria and other African countries. This strategic move aims to reduce…
The Energy Information Administration (EIA), a US agency, has stated that disruptions in Nigeria’s oil production have led to the country no longer being Africa’s highest crude oil producer. Angola…
According to the Federal Government of Nigeria, power distribution companies (Discos) failed to remit a total of N208.8 billion to the Nigeria Electricity Supply Industry in 2022. The Nigerian Electricity…
The Central Bank of Nigeria (CBN) and the Bill and Melinda Gates Foundation (BMGF) have finalized their plans to enhance financial inclusion in the country. The two organizations recently held…
Nigeria’s debt servicing costs have surged by 55.71% to N1.24tn within a three-month period, as revealed by data from the Debt Management Office. Between January and March 2023, domestic debt…
The new week brought losses to European stock markets, mirroring the decline in Tokyo, as investors monitored inflation updates and the aftermath of the Wagner revolt. London’s FTSE 100 dropped…
The decision by the Central Bank of Nigeria to devalue the naira has caused a significant increase in airfares, negatively affecting the summer holiday plans of many travelers. The depreciation…
The Federation Account Allocation Committee (FAAC) announced that it distributed a total of N786.16 billion among the three tiers of government in May 2023. This figure marks an increase of…
According to findings, Nigeria’s total public debt is projected to reach N81.64tn this year, based on the 2022 Debt Sustainability Analysis Report by the Debt Management Office. The increase in…
President Bola Tinubu of Nigeria expressed the country’s readiness to engage in business and attract foreign investments. He emphasized ongoing reforms such as the elimination of fuel subsidy and the…
The Nigerian Federal Government granted 50 new power generation and metering permits in the last quarter of last year, according to a report by the Nigerian Electricity Regulatory Commission (NERC).…
Barring any unexpected shocks, the Bank of Ghana (BoG) expects inflation to be on the decline through the end of 2025. But it expects the upper band of 8±2 to…
According to recent information from the Ghana Statistical Service (GSS), the Producer Price Inflation (PPI) for the month of May 2023 decreased from the 34.3% observed in April to 30.3%.…
In the first nine months up to March, the Controller of Budget (COB) reported Sh5.66 billion in salary payments made outside of authorized payroll systems. The national government’s pay cost…
The Nairobi Securities Exchange (NSE) saw a 10% decline in TransCentury Plc’s stock in its first transaction following the disclosure of Equity Bank’s attempt to place the company under receivership,…
According to the National Bureau of Statistics’ latest Electricity Report for the first quarter of 2023, despite a 1.74 percent decline in supply, the total amount of income made by…
Six companies have been granted licenses by the industry regulator, the Nigeria Mainstream and Downstream Petroleum Regulatory Authority (NMDPRA), to import premium motor spirit (PMS) or petrol into the nation…
Within one week of their implementation, the current FX reforms at the Central Bank of Nigeria (CBN) led to a significant change in how currency rates are managed. Feedback indicates…