Dangote Group has launched a major expansion of its fertiliser operations in Nigeria and Ethiopia, partnering with leading global engineering and technology firms. The move aims to boost urea production capacity, strengthen food security, and enhance Africa’s presence in the international fertiliser market. The expansion in Nigeria will see the Group increase its urea output […]
Year: 2025
FIRS Announces Three-Day IT System Shutdown for Maintenance Amid Tax Changes
The Federal Inland Revenue Service (FIRS) has announced a temporary shutdown of its information technology (IT) systems, affecting all online applications and infrastructure. The downtime, scheduled to run from Friday, November 28, to Sunday, November 30, 2025, is aimed at carrying out essential maintenance and system upgrades. The agency has apologized for any inconvenience this […]
Nigeria Receives $21.57 Billion Boost for Clean Energy Development
Nigeria and several other developing nations have received a substantial $21.57 billion for clean energy development, marking a sharp increase from the $12.14 billion allocated in 2015. The announcement was made by the United Nations Framework Convention on Climate Change (UNFCCC) in its newly released Yearbook of Global Climate Action 2025, titled Marrakech Partnership for […]
NNPCL-Heirs Energies JV Doubles Gas Supply, Boosting Power Generation Across Eastern Nigeria
Nigeria’s domestic gas supply and electricity generation have received a major boost following a landmark development by the NNPCL/Heirs Energies OML 17 Joint Venture (JV). The collaboration achieved a pioneering rigless recompletion of a key non-associated gas well, effectively doubling gas production to a peak of 135 million standard cubic feet per day (MMscf/d). This […]
U.S. AI Startups Secure Record $100M+ Funding Rounds in 2025, Signaling Booming Tech Growth
The U.S. artificial intelligence (AI) sector continues to experience unprecedented growth in 2025, as startups secure massive funding rounds to fuel innovation. So far this year, 49 AI companies have raised $100 million or more, matching last year’s total and demonstrating an acceleration in multiple mega-round investments. Several of these companies are also securing multiple […]
CBN Orders Banks to Withdraw Misleading Ads to Protect Consumers
The Central Bank of Nigeria (CBN) has issued a stern directive to all banks, payment service banks, and other regulated financial institutions, demanding the immediate withdrawal of any advertisement or promotional material that misleads consumers or violates established marketing standards. The move comes after a thematic review revealed widespread inconsistencies in how institutions interpret disclosure, […]
Who Owns Africa’s Data? Building Digital Sovereignty in the Age of AI
As artificial intelligence advances and global tech platforms dominate, Africa faces a pressing question: who truly owns the data generated by its people? The recently concluded AI Summit in Abuja brought together tech leaders, policymakers, and civil society experts, all agreeing that data must belong to Africans. Stakeholders emphasised the need for digital sovereignty through […]
European Markets End November Mixed; Delivery Hero Surges Over 15% Amid Strategic Review
European stocks closed Friday with a mixed performance as investors digested a volatile month of trading. The pan-European Stoxx 600 hovered flat in mid-morning trading in London, paring earlier gains. While some benchmarks like the CAC 40 and FTSE 100 edged slightly higher, others such as Italy’s FTSE MIB and Spain’s IBEX 35 showed minor […]
Nigerian Stock Market Rebounds with N111 Billion Gain Driven by MTNN, Banking, and Insurance Sectors
The Nigerian equities market staged a notable recovery on Thursday, November 27, 2025, adding N111.08 billion to its market capitalization to close at N91.1 trillion. This marks a 0.12% increase from Wednesday’s N90.99 trillion, reversing part of the steep N443 billion losses recorded in the previous session. Investors were encouraged by gains in key stocks, […]
Nigerian Stock Market Gains N111bn as Investor Optimism Returns
The Nigerian equities market closed on a positive note yesterday, recording a remarkable N111 billion gain, fueled by renewed investor confidence. Share price appreciation in MTN Nigeria Communications (MTNN) Plc and 32 other stocks helped lift the market, signaling optimism among traders. The All-Share Index (ASI) rose by 174.66 points, a 0.12% increase, to settle […]
CSCS Implements T+2 Settlement Cycle, Boosting Efficiency in Nigeria’s Capital Market
The Central Securities Clearing System Plc (CSCS) has officially implemented the T+2 settlement cycle in Nigeria’s capital market, effective Friday, November 28, 2025. The shift from the long-standing T+3 cycle marks a key milestone in modernizing post-trade infrastructure, reflecting the market’s commitment to global best practices and operational efficiency. The Securities and Exchange Commission (SEC) […]
AfDB and EIB Commit $275M to Boost Mauritania Mining Railway Investment
The African Development Bank (AfDB) and European Investment Bank (EIB) have joined forces in a landmark $275 million financing deal to modernise and expand Mauritania’s vital mining railway corridor. The initiative aims to enhance the country’s iron ore production and export capacity, reinforcing Mauritania’s position as a key player in Africa’s mining sector. AfDB will […]
CBN Orders Banks to Withdraw Non-Compliant Advertisements: Ensures Consumer Protection
The Central Bank of Nigeria (CBN) has issued a stern directive to Deposit Money Banks (DMBs), Payment Service Banks (PSBs), and other financial institutions to immediately withdraw all advertisements and promotional materials that violate existing regulations. The move underscores the apex bank’s commitment to transparency and fair marketing practices in the financial sector. The directive, […]
Africa Must Turn to Private Capital as Global Aid Declines — Edun Warns
Africa must increasingly rely on private capital and regional investment as global development aid continues to decline, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has warned. Speaking at the 5th B2B Agribusiness Matchmaking Event in Abuja, the minister said rising debt service costs and shrinking concessional financing have left African […]
Asia-Pacific Stocks Mixed as Tokyo Inflation Surprises, Fueling Rate-Hike Expectations
Asia-Pacific markets delivered a mixed performance on Friday as investors navigated fresh signals from Japan’s capital city and awaited India’s latest economic results. With U.S. markets pausing for Thanksgiving and stock futures flat, trading sentiment across the region remained cautious, especially as the Nasdaq Composite appeared likely to break its seven-month winning streak. A key […]
NNPCL’s N17.5tn Pipeline Security Spending Sparks Audit Demands in 2024 Financial Review
Nigeria’s national oil company, the Nigerian National Petroleum Company Limited (NNPCL), has revealed that the Federation owes it an extraordinary N17.5tn for pipeline protection, fuel pricing stability, and broader energy-security operations carried out in 2024. The disclosure, contained in the company’s latest consolidated financial statements, has reignited concerns over transparency and the true state of […]
SEC Orders Full Registration of All Tradable Instruments by January 2026
The Securities and Exchange Commission (SEC) has issued a firm directive to all Capital Market Operators, requiring them to declare their compliance status and ensure that every tradable instrument under their management is fully registered by January 2026. The order aligns with the newly enacted Investments and Securities Act (ISA) 2025, which introduces updated regulatory […]
Kalahari Cement Secures Majority Stake in EAPC Through NSSF Deal
Kalahari Cement has taken a major step in expanding its footprint in East Africa by acquiring a 27% equity stake in East African Portland Cement Plc (EAPC) from the National Social Security Fund (NSSF). The transaction, valued at Ksh1.6 billion, involves 24.3 million shares purchased at Ksh66 per share, pending regulatory approval. This acquisition increases […]
EABL Raises KSh 16.7 Billion in Oversubscribed Bond Listing on Nairobi Securities Exchange
East African Breweries Plc (EABL) has successfully listed the first tranche of its Medium-Term Note (MTN) Programme on the Nairobi Securities Exchange (NSE), raising KSh 16.76 billion. The issuance, part of a broader KSh 20 billion MTN programme, aims to support the company’s strategic investments and regional expansion plans. Investor interest in the bond was […]
Ghana’s Public Debt Hits GH¢684.6bn in Q3 2025 Despite Strong Year-Long Decline
Ghana’s public debt rose to GH¢684.6 billion in the third quarter of 2025, marking an increase of GH¢71.6 billion compared to the previous quarter, according to new data from the Bank of Ghana. Despite the quarterly jump, the broader fiscal picture reflects progress as the country continues to unwind its earlier debt pressures. The central […]
GM Faces Major Tech Leadership Shakeup as New Product Chief Restructures Software Division
General Motors is undergoing a significant shakeup inside its technology leadership ranks, with three senior executives departing in just one month. The exits come as GM’s newly appointed chief product officer begins merging the company’s fragmented tech units into one integrated organization, signaling a new phase of transformation for the automaker. Baris Cetinok, GM’s senior […]
Coinbase Ventures unveils nine priority sectors for 2026 as crypto VC funding hits $4.65bn
Coinbase Ventures has unveiled nine key investment sectors it believes will define the next wave of blockchain innovation in 2026. The announcement comes at a time when global crypto venture capital funding has roared back to life, climbing to $4.65 billion in Q3 2025 — the strongest rebound since the FTX crash. The firm says […]
Dangote Refinery Denies Claims of Exporting Off-Spec Diesel Amid Rising Quality Concerns
Dangote Refinery has firmly denied allegations that it exported off-specification diesel to European markets, following reports that buyers were rejecting shipments over quality issues. The clarification comes after an Argus Media publication suggested that European and Nigerian market sources had flagged the refinery’s diesel as unfit for harsh winter conditions, prompting questions around the facility’s […]
GenCos Set to Gain Foreign Exchange from West Africa Power Pool Amid Market Shifts
Nigerian power generation companies (GenCos) are poised to reap foreign exchange (FX) benefits through participation in the West Africa Power Pool (WAPP), following recent shifts in the domestic electricity market. With Nigeria struggling to fully utilize its generation capacity due to liquidity crises and non-cost-reflective tariffs, cross-border electricity trading offers a lucrative alternative. The WAPP […]
CBN Corridor Shift Sparks Broad Yield Decline Across Nigerian Financial Markets
Nigeria’s financial markets have responded sharply to the Central Bank of Nigeria’s (CBN) recent adjustment of its monetary policy corridor, with yields falling across both money and bond markets. Although the Monetary Policy Rate (MPR) remained steady at 27%, the unexpected reduction of the asymmetric corridor to +50/-450 basis points from +250/-250bps has sent clear […]
First Ally Capital Invests N2bn in First Holdco Shares Amid Rising Market Confidence
First Ally Capital Limited, an investment firm linked to Ebenezer Olufowose, chairman of First Bank of Nigeria Limited, has deepened its stake in First Holdco Plc with a fresh N2 billion investment. The firm acquired 64,516,129 units of First Holdco shares at N31.05 each, according to a regulatory filing submitted to the Nigerian Exchange Limited […]
BUA Cement, Cadbury Sell-Offs Drag Nigerian Exchange by N444bn
Sell-offs in major stocks, including BUA Cement (-4.76%), Cadbury (-9.92%), and Meyer (-9.91%), sent shockwaves through the Nigerian Exchange Limited (NGX) on Wednesday, wiping N444.32 billion off the market’s total capitalization. The negative trading pressure caused the benchmark NGX All-Share Index to fall by 0.48%, closing at 143,064.57 points. Wednesday’s downturn marked a sharp reversal […]
NNPC/Heirs Energies OML 17 Boosts Gas Supply to 135MMscf, Powering Nigeria’s Eastern Network
The NNPC/Heirs Energies OML 17 Joint Venture (JV) has achieved a major breakthrough in Nigeria’s gas sector, doubling its gas output to 135 million standard cubic feet per day (MMscf/d). This milestone was made possible through an innovative rigless recompletion of a key non-associated gas well—the first of its kind in Nigeria—transforming power generation across […]
Bank of Ghana Cuts Interest Rate to 18% as Inflation Continues to Fall
The Bank of Ghana has announced a significant reduction in its benchmark interest rate, lowering it by 350 basis points to 18%. This marks the third consecutive rate cut as the country’s inflation continues its rapid decline, signaling improving economic conditions. Governor Johnson Asiama, speaking on Wednesday in Accra, explained that the Monetary Policy Committee […]
Lawsuit Claims Teen Circumvented ChatGPT Safety Features Before Suicide: OpenAI Responds
The family of 16-year-old Adam Raine has filed a wrongful death lawsuit against OpenAI and its CEO, Sam Altman, claiming that ChatGPT played a role in their son’s suicide. According to the complaint, Raine was able to bypass the AI’s safety features and obtain detailed instructions for methods including drug overdoses, drowning, and carbon monoxide […]