Nigeria’s Crude Oil Production Costs Spark Concerns as Expenditures Soar to N18tn Annually
Nigeria is facing growing concerns over the high cost of crude oil production, with industry experts warning that the country…
Day: February 10, 2025
African Startups Raise $289M in January 2025, Marking a Strong Funding Rebound
In January 2025, African startups raised an impressive $289 million, representing a 240% increase compared to the same period in…
Paris AI Summit Calls for Balanced Approach to Regulation as Global Leaders Gather
World leaders and technology executives gathered in Paris for the AI Action Summit on February 10-11, 2025, to discuss strategies…
FBN Holdings Reports 154% Surge in Net Interest Income Due to Rate Hike
FBN Holdings experienced a significant 154.5% rise in its net interest income for the year 2024, largely due to the…
Trump says tariffs coming on steel and aluminium
President Donald Trump has revealed plans to impose a 25% tariff on all steel and aluminium entering the United States.…
Ghana Government rejects GHS 2.9bn in T-Bill offers
The Ghanaian government has rejected GHS 2.9 billion in Treasury bill bids following a significant over-subscription of 40.5% during its…
IFC invests $50 million in Lagos Free Zone to boost Nigeria’s industrial growth
The International Finance Corporation (IFC) has pledged a $50 million equity investment in the Lagos Free Zone (LFZ) to support…
CBN Unveils New Inflation Targeting Framework to Tackle Economic Challenges
The Central Bank of Nigeria (CBN) has initiated a new phase in combating inflation, implementing an inflation targeting framework designed…
Baxter: Nigeria-UK Trade Now £7.5bn, Bilateral Trade Priority for Both Countries
The trade volume between Nigeria and the United Kingdom has soared to £7.5 billion, as revealed by Jonny Baxter, the…
Imported Inflation: Nigeria’s Struggle for Price Stability
Muhammad Abdullahi, a member of Nigeria’s Central Bank Monetary Policy Committee (MPC), highlighted the challenges posed by imported inflation on…
CBN postpones February MPC meeting as NBS delays rebased CPI report
The Central Bank of Nigeria (CBN) has delayed its first Monetary Policy Committee (MPC) meeting for 2025 until March due…
Naira Rebound: Investors favour 364-day bonds, Treasury Bills
As the Nigerian naira strengthens, there has been a surge in demand for long-term fixed-income instruments. Investors are increasingly favouring…
The Future of Borrowing; Fintech’s Challenge to Traditional Banks
In 2021, Joe Michael turned to his bank for a personal loan but was discouraged by the extensive documentation and…
FCCPC Floors MTN As Court Upholds Its Regulatory Authority In Telecommunications Sector
The Federal Competition and Consumer Protection Commission (FCCPC) achieved a significant legal win against MTN Nigeria, as a Federal High…
Fintech Surge: Nigerians Shift to Digital Payments as Banks Struggle with Outages
In 2024, fintech companies like Opay and PalmPay saw significant growth as they became the go-to alternatives for financial transactions,…
Nigeria’s data privacy breaches surge amid regulatory pressure
Nigeria is experiencing a significant rise in data privacy breaches despite increased regulatory oversight by the Nigeria Data Protection Commission…
Nigerian Manufacturers Face N666bn Cost Surge Amid Inflation and Economic Challenges”
In 2024, the cost of sales for 10 major manufacturing and consumer goods companies in Nigeria surged to N665.95bn, marking…
Equity market gains N884bn in one week
The Nigerian equity market experienced significant growth last week, with the All-Share Index climbing by 1.38% to close at 105,933.03…