AfDB Commits $503m to Boost Nigeria’s Clean Energy Transition
The African Development Bank (AfDB) has pledged $503 million to support Nigeria’s ongoing energy transition efforts, reinforcing the country’s shift…
Month: July 2025
Bank of Ghana to Relaunch Gold Coin Under “Cedi@60” to Boost Gold Ownership and Financial Inclusion
As part of the “Cedi@60” commemorative program, the Bank of Ghana (BoG) has announced plans to relaunch the Ghana Gold…
Bank of Ghana Slashes Interest Rate to 25% as Inflation Drops, Sparking Price Reductions
The Bank of Ghana (BoG) has significantly cut its benchmark interest rate by 300 basis points, reducing it from 28%…
NNPC Reaffirms Commitment to Port Harcourt Refinery Rehabilitation, Rules Out Sale
The Nigerian National Petroleum Company Limited (NNPC) has dismissed speculations about selling the Port Harcourt Refining Company, asserting its commitment…
FG to Generate ₦796bn Annually from 5% Fuel Surcharge Despite Public Outcry
The Federal Government of Nigeria is set to implement a five per cent surcharge on all refined fossil fuel products,…
Microsoft Commits Record $30 Billion to AI and Cloud Growth in Q3 2025
Microsoft has announced a historic $30 billion capital expenditure for Q3 2025, marking its largest quarterly investment to date. This…
Nigeria Eurobond Yields Hit 3-Year Low as Investor Confidence Surges on Economic Reforms
Nigeria’s Eurobond yields are nearing their lowest levels in three years, a development driven by strong investor confidence in the…
Economist Cautions BoG’s Aggressive Rate Cut Amid Fragile Recovery-Ghana
The Bank of Ghana (BoG) has come under scrutiny after announcing a significant 300 basis point cut in its policy…
Asian Markets Fall on Weak China Data, Strong Yen; Global Tariffs and BOJ Outlook Stir Investor Caution
Asian stocks declined on Thursday, weighed down by disappointing Chinese economic data and a sharp drop in copper prices. The…
OpenAI Reaches $12 Billion in Annualized Revenue Amid Rising User Base and Investor Confidence
OpenAI, the creator of ChatGPT, has seen a major revenue surge in 2025, reaching an estimated $12 billion in annualized…
Tinubu’s $1 Trillion Economic Goal Hinges on Support for Local Industry — Expert Urges Collaboration with Dangote, Ekeh
President Bola Tinubu’s vision to transform Nigeria into a $1 trillion economy by 2030 has been described as bold by…
Trump Tariffs Shake Indian Markets, Threaten Growth Outlook
Indian financial markets faced turbulence on Thursday after U.S. President Donald Trump imposed unexpectedly steep 25% tariffs on Indian goods.…
NAICOM Restricts Use of AI, Blockchain in High-Risk Insurance Products
The National Insurance Commission (NAICOM) has introduced new regulatory guidelines that limit the role of standalone Insurtech firms in handling…
Naira Slightly Weakens Amid Summer Dollar Demand Surge, But Outlook Remains Stable
The naira experienced a minor depreciation across both official and parallel foreign exchange markets on Wednesday, largely due to a…
Dangote Sugar, Berger Paints, others push NGX-ASI above 139,000 points
Nigeria’s equities market extended its bullish run on Wednesday, July 30, 2025, as the Nigerian Exchange All-Share Index (NGX-ASI) closed…
Nigeria’s Pension Assets Surge to N24.63 Trillion in June 2025 Amid Strong Equities and FGN Securities Performance
Nigeria’s pension fund assets reached a historic N24.63 trillion in June 2025, representing a 2.17% increase from May and a…
Global Markets on Edge as Trump’s Tariff Blitz Shakes Trade and Commodities
Markets are navigating a high-stakes week filled with major corporate earnings, economic data, and central bank decisions, all while preparing…
Microsoft and Meta Stocks Soar on Strong AI-Driven Earnings | Tech Shares Lead Market Rally
Tech giants Microsoft and Meta Platforms saw their shares surge in European trading on Thursday following exceptional quarterly earnings released…
CBN Holds Interest Rates to Tame Inflation Amid Global Uncertainty
Amid global economic turbulence and persistent inflation, the Central Bank of Nigeria (CBN) has decided to maintain all key monetary…
Tinubu’s Economic Reforms Cut Northern States’ Debt by 42%, Boost Revenue — FG
The Federal Government has announced a 42.06% drop in the domestic debt of Northern states, attributing the fiscal improvement to…
FX Liquidity Boost: Nigerian Banks Resume Naira Payments for Foreign School Fees and Medical Bills
Nigerian banks have resumed accepting naira card payments for international tuition fees and medical bills, following a period of suspension…
ECB Warns China-U.S. Trade Rift Could Lower Euro Zone Inflation Below Target
A European Central Bank (ECB) blog post has warned that if China diverts its exports away from the United States…
Fintech Dominates Africa’s Startup Funding in H1 2025, Securing 45% Share
Africa’s fintech sector asserted its dominance once again in the first half of 2025, capturing 45% of all disclosed startup…
Yahoo Mail introduces $1.99/month 100GB plan
Yahoo Mail has announced a significant change to its storage policy, reducing the free email storage allowance from its previous…
Naira Strengthens Amid Forex Oversupply and Security Clampdown — CBN Policies, Investor Confidence Drive Stability
Currency traders have cited a significant oversupply of dollars in the Nigerian forex market, combined with the efforts of security…
Nigeria’s Industrial Sector Shrinks Despite GDP Growth: MAN Urges Manufacturing Focus
Nigeria’s Gross Domestic Product (GDP) grew by 3.13% in Q1 2025, according to the National Bureau of Statistics (NBS), signaling…
Petroleumprice.ng Launches Nigeria’s First Verified Digital Marketplace for Downstream Oil Trading
A Nigerian oil and gas tech firm, Petroleumprice.ng, has officially launched a first-of-its-kind digital marketplace tailored to streamline downstream petroleum…
Investor Confidence and High Yields Drive N4.67 Trillion in FGN Bond Subscriptions in 2025
In the first seven months of 2025, the Federal Government of Nigeria (FGN) bonds drew an impressive N4.67 trillion in…
Federal Reserve Holds Steady on Rates as Internal Divisions and Political Pressure Mount
The Federal Reserve is expected to maintain current interest rates following its meeting this week, echoing the stance taken in…
Google to Sign EU’s Voluntary AI Code Despite Concerns Over Innovation Risks
Alphabet-owned Google has agreed to sign the European Union’s new voluntary AI Code of Practice, a framework aimed at helping…