Business Local Macroeconomic Stakeholders to Address Nigeria’s Declining Consumer Purchasing Power at 2025 Industry Summit March 26, 2025 Ekemini The 2025 Industry Summit & Awards is set to tackle the critical issue of declining consumer purchasing power in Nigeria’s fast-moving consumer goods (FMCG) sector. The summit, scheduled for May…
Business Economy Local Dangote Refinery Faces Backlash Over Dollar Sales, Expands Exports and Boosts Local Industry March 26, 2025 Ekemini Oil marketers in Nigeria, represented by the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), have strongly opposed the decision of the Dangote Petroleum Refinery to sell refined petroleum…
International Macroeconomic Wall Street Bonuses Surge 32% in 2024, Reaching Record Highs Amid Economic Uncertainty March 26, 2025 Ekemini Wall Street bankers saw their bonuses rise by 31.5% in 2024, bringing the average payout to $244,700, according to New York State Comptroller Thomas DiNapoli. This boost was fueled by…
Africa Business Economy Local Ghana’s Government to Settle $1.1 Billion Debt to ENI Amid Energy Sector Struggles March 26, 2025 Ekemini The government of Ghana is set to pay $1.1 billion in 2025 to ENI, an energy company, to settle outstanding debts for gas supply. These payments will cover monthly invoices,…
Local Macroeconomic CBN Intensifies Efforts to Combat Forex Speculation Amid Naira’s Minor Decline March 26, 2025 Ekemini The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has reaffirmed the bank’s commitment to maintaining stability in the country’s foreign exchange (FX) market. He emphasized that the…
Finance International U.S. Fed Rate Hold Triggers Sell-Off of Nigeria Eurobonds Amid Global Market Shifts March 26, 2025 Ekemini The decision by the U.S. Federal Reserve to hold interest rates steady has contributed to a significant sell-off of Nigerian Eurobonds, as foreign investors pulled back from riskier assets. Analysts…
Business International Technology OpenAI Unveils GPT-4o-Powered Image Generation Directly in ChatGPT March 26, 2025 Ekemini OpenAI has integrated a powerful new image generation tool into ChatGPT, leveraging its advanced GPT-4o model. This feature allows users to create images directly within the chatbot, marking a significant…
Africa Local Macroeconomic Ghana Loses $1.2 Billion in Gold Revenue Due to Illegal Smuggling in 2022, Minister Reveals March 26, 2025 Ekemini In 2022, Ghana lost an estimated $1.2 billion in gold revenue due to widespread illegal smuggling, according to Finance Minister Dr. Cassiel Ato Forson. The illicit trade, involving the outflow…
International Technology TikTok Pledges Full Cooperation in Nigerian Data Breach Probe March 26, 2025 Ekemini Short video platform TikTok has committed to fully cooperate with the Nigerian Data Protection Commission (NDPC) as the agency investigates the platform for alleged data breaches. The NDPC’s probe was…
Business investment Local Nigeria’s Banking Recapitalisation: A Path to Economic Diversification and Stability March 26, 2025 Ekemini Nigeria’s ongoing banking recapitalization exercise is expected to play a crucial role in shaping the country’s economic future. According to Ayokunle Olubunmi, Head of Financial Institutions Ratings at Agusto &…
Business Local Inflation Eases for Second Consecutive Month in Nigeria, Analysts Cite FX Stability March 26, 2025 Ekemini Analysts have highlighted the role of relative stability in Nigeria’s foreign exchange (FX) market in easing inflationary pressures. The country’s inflation rate declined for the second consecutive month in February,…
Business International investment Technology European Investors Urge AI Companies to Show Quick Returns Amid Rising Pressure March 26, 2025 Ekemini European investors are growing increasingly impatient with AI companies that have spent heavily on generative artificial intelligence without delivering tangible returns. After a market boom fueled by AI hype, these…
International Macroeconomic Stocks Gain, Dollar Drifts as Traders Ponder Trump Tariff Outlook March 26, 2025 Ekemini Asian stock markets followed Wall Street higher on March 26 as traders awaited more clarity on U.S. President Donald Trump’s upcoming trade policies. Investors were somewhat reassured by Trump’s comments…
Business Local Technology Nigeria’s Digital Payments and Financial Inclusion Set to Reach $1.5 Trillion by 2030 – Mastercard Report March 26, 2025 Ekemini The digital payments sector in Nigeria and across Africa is projected to reach $1.5 trillion by the end of the decade, driven by growth in internet access and financial inclusion.…
International Macroeconomic US Economy Faces Potential Stagflation Risks, But Avoiding Severe Economic Strain March 25, 2025 Ekemini Recent projections from the Federal Reserve have raised concerns about the possibility of stagflation, a period characterized by both high inflation and high unemployment. While the risk of a full-blown…
Business Finance Local CBN Governor Cardoso Reaffirms Commitment to FX Stability and Inflation Control March 25, 2025 Ekemini Central Bank of Nigeria (CBN) Governor Olayemi Cardoso has reaffirmed the institution’s dedication to stabilizing the foreign exchange market and controlling inflation. During a visit by a Harvard Kennedy School…
International Macroeconomic Hong Kong’s Hang Seng Index Falls 2.35% Amid Trump’s Tariff Threats March 25, 2025 Ekemini In a day of mixed trading across Asia-Pacific markets, Hong Kong’s Hang Seng Index experienced a significant drop of 2.35%, closing at 23,344.25. The Hang Seng Tech Index was hit…
Finance investment Local Nigeria’s Inflation Eases, FirstHoldCo Shines, and Cocoa Prices Surge to Record Highs March 25, 2025 Ekemini Nigeria’s inflation rate has eased to 23.18%, signaling a potential relief for households and businesses as the financial pressure on the economy starts to abate. This dip in inflation offers…
Africa Business Finance Local Ghana’s Finance Minister Assures Capital Market Reopening and Debt Repayment Commitment March 25, 2025 Ekemini Finance Minister, Dr. Cassiel Ato Forson, emphasized the importance of reopening Ghana’s capital markets, highlighting the significant role of pension funds in restoring investor confidence and stabilizing the economy. Forson…
Business Energy Local Technology Nigerian DisCos Face 33% Revenue Shortfall in 2024 Amid Metering Issues and Poor Service March 25, 2025 Ekemini In 2024, Nigeria’s electricity distribution companies (DisCos) experienced a significant 33% revenue shortfall, collecting only N1.699 trillion of the N2.196 trillion billed to customers. This gap highlights ongoing challenges in…
Africa Local Macroeconomic Ghana Intensifies Efforts to Meet IMF Review Deadline, Outlines Economic Reforms March 25, 2025 Ekemini Ghana’s Finance Minister, Dr. Cassiel Ato Forson, has reassured that the government is actively working to meet the International Monetary Fund’s (IMF) review scheduled for April. He highlighted the importance…
Business Local Technology DICE 3.0: Africa’s Premier Tech and Business Networking Event Set for April 2025 March 25, 2025 Ekemini DICE 3.0, the latest edition of the premier digital economy mixer, is set to take place on April 3, 2025. Organized by Beyond Limits, a pan-African organization dedicated to driving…
Business Local NGX Group, CBN, and MinieMoney Empower Nigerian Students with Financial Literacy Skills March 25, 2025 Ekemini In a bid to promote financial inclusion, the Nigerian Exchange Group (NGX Group), the Central Bank of Nigeria (CBN), and MinieMoney have teamed up to equip over 200 students with…
Business International Technology China’s DeepSeek Unveils Advanced AI Model to Challenge OpenAI March 25, 2025 Ekemini Chinese AI startup DeepSeek has launched a significant upgrade to its V3 large language model, DeepSeek-V3-0324, intensifying its competition with major U.S. tech companies like OpenAI and Anthropic. The model…
Finance Local Macroeconomic Nigeria’s Debt Servicing Hits Four-Year High Amid Rising Borrowing and Currency Depreciation March 25, 2025 Ekemini Nigeria’s debt repayment reached a four-year high of $4.65 billion in 2024, marking a 32.9% increase from the previous year. This surge in debt servicing reflects the federal government’s increasing…
Business Local Nigerian Stock Market Opens Week with N369bn Gain, Positive Market Sentiment March 25, 2025 Ekemini The Nigerian stock market began the week on a strong note, posting a N369 billion gain, with the Nigerian Exchange Limited All-Share Index (NGX ASI) rising by 588.43 basis points…
Economy Finance International U.S. Treasury Yields Rise as Hopes of Trade War Easing Boost Investor Confidence March 25, 2025 Ekemini U.S. Treasury yields increased on Monday, driven by growing optimism that President Donald Trump’s stance on trade tariffs may be softening, alleviating fears of an all-out trade war. The benchmark…
Business Economy Local Nigerian Stock Market Faces Fourth Consecutive Week of Losses Amid Uncertainty March 25, 2025 Ekemini The Nigerian stock market continued its downward trend last week, marking its fourth consecutive week of losses. This downturn was largely driven by losses in highly capitalized stocks across various…
Business International Technology OpenAI’s Brad Lightcap Takes on Expanded Role to Drive Global Growth and Partnerships March 25, 2025 Ekemini OpenAI’s Chief Operating Officer, Brad Lightcap, is set to lead the company’s global expansion efforts and corporate partnerships, as announced by CEO Sam Altman. This strategic move comes as OpenAI,…
Africa International Local Technology Ghana Gov’t to Deploy Technology to Combat Illegal Mining and Boost National Revenue March 25, 2025 Ekemini The government of Ghana has announced plans to implement technology-driven measures to address the growing challenge of illegal mining, which has been severely affecting national revenue. The move is part…
