BREAKING: Dr. Sidi Ould Tah Elected as New AfDB President, Succeeding Adesina
Dr. Sidi Ould Tah, former Minister of Economy and Finance in Mauritania, has been elected as the 9th President of…
Month: May 2025
Nigeria’s Money Supply Hits N119 Trillion as CBN Pauses Rate Hikes Amid Liquidity Surge
Nigeria’s broad money supply (M3) surged to a record N119.11 trillion in April 2025, marking a 22.9% increase from the…
Ghana Reaffirms Commitment to Fair Debt Talks Under G20 Framework
The Government of Ghana has reaffirmed its commitment to equitable and transparent debt restructuring negotiations with its external creditors. According…
Tinubu Highlights $8 Billion Oil Investment, 400% Rig Surge in Two-Year Economic Progress Report
President Bola Tinubu has marked his two years in office by emphasizing the significant strides his administration has made in…
Nigeria and South Africa Among Africa’s Biggest Losers as $125 Billion in Tax Revenue Slips Away
Africa is losing an estimated $125 billion in tax revenue annually due to the large informal economies prevalent across the…
Nigerian Stock Market Extends Gains, Rises by 0.27%
Nigeria’s stock market continued its positive momentum on Wednesday, climbing by 0.27 percent. The uptick was largely driven by increased…
Cedi Soars, Easing Ghana’s Debt Burden and Boosting Economic Outlook
Ghana’s currency, the cedi, has stunned markets with a dramatic 42% gain against the US dollar since January, outperforming all…
Tinubu Hails Economic Reforms as Debt Service Drops, State Revenues Surge to N6 Trillion
In a speech marking his second year in office, President Bola Tinubu highlighted significant economic gains achieved through his administration’s…
US Expands Export Controls on Chip Design Software and Key Chemicals to China
The United States has imposed new export restrictions requiring companies to obtain licenses before shipping critical goods to China, including…
DeepSeek’s R1 Update Signals China’s Growing Challenge to U.S. AI Dominance
Chinese AI startup DeepSeek has quietly rolled out an updated version of its R1 reasoning model, dubbed R1-0528, on the…
GEXIM and Saudi EXIM Forge Strategic Partnership to Boost Trade and Project Financing-GHANA
In a move to bolster Ghana’s economic transformation through enhanced international trade and export development, the Ghana Export-Import Bank (GEXIM)…
AfDB Warns of $39.84 Billion Drop in Africa’s Foreign Funding by 2025 Amid Global Aid Cuts
The African Development Bank (AfDB) has projected a significant drop of $39.84 billion in foreign funding to Africa by 2025,…
Nigeria’s Public Debt Could Surge to N800,000 Per Citizen Amid New $21.5 Billion Borrowing Request
Nigeria faces a significant rise in public debt if the Senate approves President Bola Tinubu’s request for $21.5 billion in…
SEC Warns Nigerians Against Unregistered Silverkuun Investment Cooperative
The Securities and Exchange Commission (SEC) has issued a strong warning to the Nigerian public against engaging with Silverkuun Investment…
Nigerian Exchange Surges by N187 Billion as Investor Confidence Drives Market Momentum
The Nigerian Exchange (NGX) continued its positive streak on Wednesday, gaining N187 billion in market capitalisation amid strong investor optimism…
Rising Power Demand Drives Urgent Calls for Grid Upgrades and Efficiency Reforms in Ghana
Ghana’s electricity consumption rose sharply in 2024, reaching 13,098 GWh, up from 12,390 GWh in 2023, according to the 2025…
U.S. Court Blocks Trump’s Tariffs, Boosting Global Markets and Dollar
Asian stock markets and U.S. futures surged following a ruling by the Manhattan-based Court of International Trade that blocked President…
Japan Unlikely to Dump U.S. Treasuries Amid Lack of Alternatives, Says Ex-BOJ Official
Japan is unlikely to have sold off its substantial U.S. Treasury holdings despite a major sell-off in April, according to…
FG Launches Digital Village to Bridge Nigeria’s Connectivity Gap
The Federal Government of Nigeria has launched a digital village pilot project in Ibwa 2, Gwagwalada, FCT, to provide free…
Forex Market Reforms Restore Investor Confidence in Nigerian Economy
The liberalisation of Nigeria’s foreign exchange (forex) market has restored investor confidence and stabilised the exchange rate, addressing long-standing volatility…
Dangote Refinery Reshapes Africa’s Fuel Landscape as Nigeria Ends Petrol Import Dominance
Nigeria has relinquished its status as Africa’s largest importer of refined petroleum products, with South Africa now taking the lead.…
U.S. Banks Step Cautiously into Crypto Amid Regulatory Shifts
Major U.S. banks are beginning to explore opportunities in the cryptocurrency space, but are doing so cautiously due to lingering…
FX Reforms Spark Surge in Investor Confidence as Daily Turnover Hits $500m
Nigeria’s foreign exchange (FX) market has experienced a dramatic boost in liquidity, with daily turnover approaching $500 million—a nearly five-fold…
FG Launches Presidential Committee to Spearhead Nigeria’s Digital Infrastructure Transformation
In a major push toward digital transformation, the Federal Government of Nigeria has inaugurated a Presidential Committee on Digital Public…
AfDB Forecasts 6% Naira Depreciation by 2026 Amid Global Market Volatility
The African Development Bank (AfDB) has projected that the Nigerian naira will depreciate by at least 6% between 2025 and…
Stakeholders Call for Greater Investment and Support to Boost Nigeria’s Tech Innovators
At a recent World Product Day event in Lagos, key players in Nigeria’s investment sector highlighted the major obstacles facing…
World Bank Cuts Kenya’s 2025 Growth Forecast to 4.5% Amid Mounting Debt and Credit Woes
The World Bank has lowered Kenya’s 2025 economic growth projection to 4.5%, a reduction of 0.5 percentage points, primarily due…
Apple Blocks Over $2 Billion in App Store Fraud in 2024 Amid Rising Cyber Threats
Apple has disclosed that it thwarted over $2 billion in fraudulent transactions on its App Store in 2024, highlighting the…
Wear It All Luxury Launches Glamorous Abuja Boutique with Star-Studded Event
Wear It All Luxury, the high-end fashion brand led by entrepreneur Sodiq Babatunde Rufai, has officially expanded its footprint with…
NGX Market Capitalisation Surges Past N70 Trillion as Bullish Trend Continues
The Nigerian Exchange Limited (NGX) witnessed sustained bullish activity as the market capitalisation soared past the N70 trillion mark. The…