Apple has announced a major leadership change in its artificial intelligence division, as John Giannandrea, the company’s AI chief since 2018, steps down. Giannandrea will remain as an adviser through the spring, but his departure marks a pivotal shift for Apple’s AI strategy amid a series of public missteps. Amar Subramanya, a former Microsoft executive […]
Year: 2025
Nigeria’s Public Debt Hits N152.39 Trillion in Q2 2025, NBS Reports
Nigeria’s public debt stock rose to N152.39 trillion in the second quarter of 2025, marking a 2.01% increase from the N149.38 trillion recorded in Q1, the National Bureau of Statistics (NBS) revealed on Monday. The report, part of the Nigerian Domestic and Foreign Debt Report for Q2 2025, highlights the country’s growing borrowing burden amid […]
Nigeria Moves to T+2 Settlement Cycle, Eyes T+1 Transition to Boost Market Efficiency
Nigeria’s capital market has taken a historic step forward by officially transitioning to a T+2 settlement cycle, effective November 28, 2025. The move, announced by the Securities and Exchange Commission (SEC), aims to enhance market efficiency, reduce risks, and align Nigeria with global post-trade standards. Market operators and investors alike welcomed the development, seeing it […]
Nigeria’s GDP Rises to 3.98% in Q3 2025 as Agriculture and Industry Drive Economic Rebound
Nigeria’s economy continued its upward trajectory in the third quarter of 2025, with the National Bureau of Statistics (NBS) reporting a 3.98% year-on-year rise in real Gross Domestic Product (GDP). This marks a slight increase from the 3.86% recorded in Q3 2024, signaling steady recovery across key sectors. For many Nigerians navigating rising costs and […]
SEC Intensifies Crackdown on Ponzi Schemes, Boosts Collaboration to Protect Nigerian Investors
The Securities and Exchange Commission has renewed its commitment to tackling Ponzi schemes in Nigeria by strengthening collaboration with key law enforcement agencies. The commission said the move aligns with the provisions of the Investments and Securities Act 2025, which criminalises fraudulent investment operations and imposes strict penalties on offenders. Speaking at the SEC Journalists’ […]
European Markets Open Flat as Investors Await December Interest Rate Decisions
European stock markets are expected to open flat to slightly lower on Tuesday as the region continues to struggle for momentum at the start of December. Despite entering the final trading month of the year, investors appear cautious, with sentiment weighed down by uncertainty around upcoming monetary policy decisions. Forecasts from IG show a subdued […]
Nigeria’s GDP Slows To 3.98% In Q3 2025
Nigeria’s Gross Domestic Product slowed down to 3.98 per cent (year-on-year) in real terms in Q3 2025, lower than the 4.23 per cent that was recorded in the second quarter of the year. According to figures that were posted on the website of the National Bureau of Statistics (NBS) on Monday, the economy reduced to […]
CBN’s MPC Adjusts Policy Corridor to Boost Lending to Productive Sectors
The Central Bank of Nigeria (CBN) has taken a strategic step to encourage banks to redirect funds toward productive sectors of the economy. At its 303rd Monetary Policy Committee (MPC) meeting on November 25, 2025, the CBN retained the Monetary Policy Rate (MPR) at 27 percent but adjusted the standing facility corridor to +50/-450 basis […]
Nigerian Stocks Plunge N6.5 Trillion in November Amid CGT Fears – NGX Records Historic Monthly Loss
The Nigerian equities market suffered its worst monthly decline in history in November 2025, losing a staggering N6.54 trillion in market capitalization. According to Nairalytics data, this marks the steepest drop since January 2013, when the Nigerian Exchange (NGX) first crossed the N10 trillion market cap threshold. While the market remains ahead year-to-date, this historic […]
CBN Struggles to Recover N629 Billion Anchor Borrowers’ Loans, Audit Reveals
Nigeria’s Auditor General has raised serious concerns over the management of the Central Bank of Nigeria’s (CBN) flagship Anchor Borrowers’ Programme (ABP), revealing that N629.04 billion in loans remain unrecovered. The findings, drawn from the apex bank’s 2022 financial statements and recently submitted to the National Assembly, highlight ongoing questions about transparency, internal controls, and […]
Experts Urge Nigeria to Sell Aging Refineries Amid N2.92 Trillion Investment in 2024
As the Nigerian National Petroleum Company Limited (NNPCL) weighs the future of the country’s refineries, energy experts are urging the government to consider selling the facilities rather than continuing costly rehabilitation. Between 2015 and 2022, the federal government spent $3.7 billion revamping the Port Harcourt, Warri, and Kaduna refineries, yet most projects remained incomplete. The […]
OPEC Maintains Nigeria’s 1.5 Million BPD Oil Quota Through 2026
The Organisation of the Petroleum Exporting Countries (OPEC) has confirmed that Nigeria’s crude oil production quota will remain at 1.5 million barrels per day (bpd) through December 2026. The decision, first set in late 2024, was reaffirmed during the 40th OPEC and non-OPEC Ministerial Meeting on Sunday, reflecting the group’s cautious approach to maintaining market […]
Ghana T-Bill Auction Rebounds After Six Weeks, Oversubscription Hits 111%
After six weeks of muted activity, Ghana’s treasury bill market has staged a strong comeback, signaling renewed investor confidence. Fresh data from the Bank of Ghana shows that the latest auction recorded an impressive 110.84% oversubscription, a clear sign that investors are eager to lock in short-term government securities. Investors tendered a total of GH¢6.03 […]
ChatGPT Turns Three: How the AI Revolution is Reshaping Business, Tech, and Our Future
On November 30, 2022, OpenAI quietly introduced ChatGPT, describing it simply as “a model that interacts in a conversational way.” In just three years, this unassuming chatbot has become a cultural and technological phenomenon, topping Apple’s free app charts and inspiring a surge of generative AI products across industries. What began as an experiment in […]
FG Cracks Down on Terror Financing: Nigerian Banks and Firms Face Prosecution
The Federal Government of Nigeria has pledged to take stringent action against banks, financial institutions, and accounting firms found aiding terrorism financing. President Bola Tinubu’s Special Adviser on Media and Public Communication, Daniel Bwala, revealed in a TVC interview that leaders of implicated organizations will face prosecution, while institutions could be fined or even shut […]
FCMB Named Nigeria’s Best SME-Focused Bank 2025, Leading N1.8 Trillion SME Disbursements
First City Monument Bank (FCMB) has been recognised as Nigeria’s Best SME-Focused Bank for 2025 by the Chartered Institute of Bankers of Nigeria (CIBN). The accolade highlights FCMB’s outstanding contribution to small and medium-sized enterprises (SMEs) in the country, positioning the bank as a key player in Nigeria’s economic growth. The recognition comes as FCMB […]
Dangote Refinery Pledges 1.5 Billion Litres of Petrol Monthly to Boost Nigeria’s Fuel Security
Dangote Petroleum Refinery has confirmed it will supply 1.5 billion litres of Premium Motor Spirit (PMS) monthly, equivalent to 50 million litres daily, starting December 2025. The pledge is aimed at meeting Nigeria’s domestic fuel demand and reducing reliance on imported petrol. The refinery plans to increase its supply to 1.7 billion litres per month, […]
NNPCL’s Crude-for-Loan Burden Hits N8.07tn: Eagle, Gazelle, Yield Projects Drive Debt Exposure
The Nigerian National Petroleum Company Limited (NNPCL) is grappling with a staggering N8.07tn in crude-backed loan obligations, according to its 2024 financial statements. These debts are spread across multiple forward-sale and project-financing arrangements, including major facilities like Eagle Export Funding, Project Yield, Project Leopard, and Project Gazelle. The obligations are serviced primarily through crude oil […]
Naira Strengthens to 1,446/$ as Foreign Capital Inflows Hit $20.98bn
The Nigerian naira recorded a notable uptick last week, appreciating to 1,446.74 per dollar, a 0.69% increase from the previous week’s 1,456.72/$, according to the official exchange rate. This rise comes after a period of sharp volatility, with the naira consistently trading below 1,450/$ at the official window. On the parallel market, the currency eased […]
Top 10 Nigerian Stockbrokers Transact N6.6 Trillion on NGX in 11 Months
Nigeria’s stock market witnessed significant activity in the first 11 months of 2025, with ten leading stockbroking firms facilitating trades worth a combined N6.6 trillion on the Nigerian Exchange (NGX). According to a broker performance report released by NGX, these firms accounted for 62.57% of the total market transactions, highlighting their dominant role in the […]
Nigeria’s Refining Capacity Hits 62% Amid Crude Shortages and Technical Challenges
Nigeria’s oil refining sector continues to struggle with low utilisation despite having a combined installed capacity of 1.125 million barrels per day, the Federal Government has revealed. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) stated that refinery operations averaged just 61.58% between the first and third quarters of 2025, hampered by technical limitations, […]
Nigerian Equities Market Suffers N6.5 Trillion Loss in November Amid Investor Caution
The Nigerian equities market recorded its worst monthly performance in history in November 2025, with a staggering N6.543 trillion wiped off market capitalisation. The market began the month at N97.829 trillion and closed at N91.286 trillion by November 28, signalling heightened investor anxiety. The Nigerian Exchange (NGX) Limited All-Share Index (ASI) mirrored this decline, dropping […]
SEC Pledges Stronger Action Against Ponzi Schemes to Protect Nigerian Investors
The Securities and Exchange Commission (SEC) has reinforced its commitment to protecting Nigerian investors by pledging stronger collaboration with law enforcement agencies to identify and prosecute promoters of Ponzi schemes. Speaking at the Commission’s Journalists’ Academy 2025 in Lagos, Mr. John Achile, head of Legal and Enforcement, emphasized that the SEC will work closely with […]
European Markets Face Downturn as December Trading Begins Amid Global Uncertainty
European stock markets are starting December on a cautious note, with major indices expected to open lower. The U.K.’s FTSE is projected to fall by 0.26%, Germany’s DAX by 0.62%, France’s CAC 40 by 0.46%, and Italy’s FTSE MIB by 0.5%, according to IG data. The downturn follows a mixed end to November, as investors […]
Dangote Group Partners with Kano State to Boost Trade, SMEs, and Social Programmes at 2025 Trade Fair
The Dangote Group and the Kano State government have announced a strengthened partnership aimed at boosting business activities and social programmes across the state. The announcement was made during the 46th edition of the Kano International Trade Fair, where a large number of participants visited the Dangote pavilion to explore innovative products and investment opportunities. […]
Google Unveils N3bn Investment to Boost AI Skills and Digital Safety in Nigeria
Google, through its philanthropic arm Google.org, has announced a major N3 billion (US$2.1 million) commitment to support Nigeria’s fast-growing digital ecosystem. The funding forms part of a two-pronged initiative designed to strengthen the nation’s artificial intelligence (AI) talent pipeline while improving digital safety across communities. The move marks a renewed investment in Nigeria’s technological future […]
Nigeria Imports 828m Litres of Petrol as Dangote Refinery Falls Short in October
Nigeria’s fuel security weakened in October after the Dangote Petroleum Refinery supplied only a fraction of the nation’s petrol needs, forcing the country to rely heavily on imports once again. According to new data released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, the refinery supplied just 512.4 million litres of petrol during the […]
Naira Strengthens to N1,470/$ Amid Rising Forex Reserves as U.S. Dollar Index Gains
The Nigerian Naira showed mixed performance on Friday as it strengthened slightly in the unofficial market while softening in the official trading windows. In the parallel market, the Naira appreciated to N1,470/$ from Thursday’s N1,475/$, reflecting growing demand for local currency amid increased liquidity. Meanwhile, the Nigerian Foreign Exchange Market (NFEM) recorded a marginal depreciation, […]
NNPC Boosts Investment in Dormant Refineries to N2.92tn Amid Ongoing Revival Plans
The Nigerian National Petroleum Company Limited (NNPC) increased its investment in the country’s three non-operational refineries to N2.92 trillion in 2024, according to its audited financial statements. This marks a significant jump from N1.72 trillion in 2023, representing a 69.5% increase, despite the facilities remaining largely inactive after years of rehabilitation delays and shifting government […]
Nigeria’s Company Income Tax Surges 40% to N2.78 Trillion in Q2 2025
Nigeria’s Company Income Tax (CIT) collections skyrocketed in the second quarter of 2025, reaching a record N2.78 trillion. The latest data from the National Bureau of Statistics (NBS) shows a sharp 40.27% increase compared to the N1.98 trillion recorded in Q1, reflecting both stronger corporate earnings and improved compliance among businesses. Domestic companies accounted for […]