Business International Technology Sub-Saharan Africa Lost $1.56bn To Internet Shutdown In 2024 – Report January 13, 2025 Ekemini Sub-Saharan African countries collectively lost $1.56 billion due to government-induced internet shutdowns in 2024, accounting for 19% of the $7.69 billion global loss, according to a report by Top10VPN. This…
Business Local Technology Nigerian Firms Shortlisted in UNDP’s Africa’s 15 Startups for Next HealthTech Programme January 13, 2025 Ekemini The United Nations Development Programme (UNDP) Africa, has unveiled 15 groundbreaking startups for its HealthTech Hub program, including three Nigerian companies: Medtech Africa, Zuri Health, and Mobihealth. These high-potential startups…
Business Finance Local FG sets up a special unit as implementation of LGA financial autonomy begins January 13, 2025 Ekemini The Federal Government of Nigeria, through the Office of the Accountant-General of the Federation (OAGF), has set up a dedicated unit to oversee the implementation of financial autonomy for the…
Business investment Local Macroeconomic Experts project 3.5% economic growth for Nigeria in 2025 January 13, 2025 Ekemini Experts forecast Nigeria’s economy to grow by 3.5% year-on-year in 2025, a slight improvement from the estimated 3.2% in 2024, according to the NESG-Stanbic IBTC Business Confidence Monitor report. The…
Business Finance investment Local NGX hauls N12.2trn from bonds, listings in 2024 January 13, 2025 Ekemini The Nigerian Exchange Limited (NGX) achieved a remarkable milestone in 2024, recording N12.17 trillion from Federal Government (FGN) bonds and corporate listings. Corporate listings led the pack, contributing N6.2 trillion,…
Business Finance investment Local GTCO’s N400.5bn Public Offer Falls Short by 48% January 13, 2025 Ekemini Guaranty Trust Holding Company Plc (GTCO) has revealed that its N400.5 billion public offer was undersubscribed by 48%, raising only N209.01 billion. The offer, which involved 9 billion ordinary shares…
Business Economy Local Macroeconomic The oil and gas sector received 31.1% of banks’ credit allocation in Q3 2024 –CBN January 13, 2025 Ekemini In the third quarter of 2024, the oil and gas sector secured 31.1% of Nigeria’s total credit allocation from deposit money banks (DMBs), marking a notable increase from the previous…
Business Local NAHCO Appoints Olumuyiwa Olumekun as GMD/CEO Following Gupta’s Retirement January 13, 2025 Ekemini The Nigerian Aviation Handling Company PLC (NAHCO) has named Mr. Olumuyiwa Olumekun as its new Group Managing Director/Chief Executive Officer, effective January 1, 2025. This appointment follows the retirement of…
Business Macroeconomic GDP rebasing: Services to enjoy biggest gain January 13, 2025 Ekemini Nigeria’s services sector is projected to account for 55 to 60 percent of its rebased Gross Domestic Product (GDP) in 2025, an increase from its current contribution of 53 percent.…
Business Economy Local Macroeconomic CBN expected to hold MPR for most of 2025 January 13, 2025 Ekemini Asset management firm Meristem Securities has projected that the Central Bank of Nigeria (CBN) will likely maintain its Monetary Policy Rate (MPR) at 27.50% for much of 2025. This stance…
Business investment Macroeconomic FG to strengthen capital market for wealth creation January 13, 2025 Ekemini The Federal Government has reiterated its commitment to bolstering Nigeria’s capital market as a key driver of economic growth and wealth creation. Minister of State for Finance, Dr. Doris Uzoka-Anite,…
Business investment Local Macroeconomic Nigeria secured $7.6bn investments at Africa forum – Adesina January 13, 2025 Ekemini Nigeria has attracted $7.6 billion in investment commitments at the Africa Investment Forum 2024, held in Rabat, Morocco, from December 4 to 6, 2024. The announcement was made by Dr.…
Business Economy Finance Investing Local Nigerian Stocks Surge by N1.14tn as Trend Lifts Market January 13, 2025 Ekemini The Nigerian Exchange Limited (NGX) closed on a bullish note last week, delivering a significant gain of N1.14tn. The All-Share Index (ASI) rose by 1.80%, ending at 105,451.06 points, while…
Business Economy Finance Local Recapitalization and Regulatory Shifts Reshape Nigerian Banking Sector in 2024 January 13, 2025 Ekemini The Nigerian banking sector experienced a transformative 2024, driven by the Central Bank of Nigeria’s (CBN) recapitalization directive to support a $1 trillion economy. Banks were mandated to raise their…
Economy Local Politics Lagos Speaker Faces Alleged Financial Mismanagement Scandal January 12, 2025 Ekemini Uba Speaker of the Lagos State House of Assembly, Mudashiru Obasa, is facing renewed allegations of financial impropriety and mismanagement, raising questions about accountability in the state’s leadership. Reports from People’s…
Business insurance investment Local Guinea Insurance Targets N1.75bn Gross Premium Written in Q1 2025 January 9, 2025 Ekemini Guinea Insurance has projected a gross premium written (GPW) of N1.75 billion for the first quarter of 2025, according to its forecast filed with the Nigerian Exchange Limited. The company…
Business Economy Finance Local Inflation and Naira Stabilisation Expected in 2025 January 9, 2025 Ekemini In 2025, experts forecast that inflation in Nigeria may begin to moderate, offering a potential easing cycle for the economy. During the First Bank outlook event, economists predicted that while…
Business International investment Investors Pick Kenya Over Nigeria As Startup Funding Falls To $2.2bn January 9, 2025 Ekemini In 2024, Kenya emerged as the top destination for startup funding in Africa, surpassing Nigeria for the second consecutive year. East Africa raised $725 million in total, with Kenya responsible…
Business International Macroeconomic European Stocks Edge Higher as Mining Gains Offset Retail Losses January 9, 2025 Ekemini European stocks regained stability on Thursday, as the STOXX 600 index rose by 0.1%, recovering from early declines. Mining stocks led the charge, with a 1.8% increase in the sector,…
Business International investment Local Bonds under pressure as stocks tumble amid UK gilt worries and US policy uncertainty January 9, 2025 Ekemini Global financial markets faced turbulence as bond yields soared and stocks fell, driven by concerns over rising inflation, reduced chances of interest rate cuts, and uncertainty surrounding U.S. President-elect Donald…
Business Economy Local Technology Telecom tariff hike imminent – FG January 9, 2025 Ekemini The Federal Government has announced plans to increase telecommunication tariffs, though not as high as the 100 percent requested by operators. Minister of Communications, Innovation, and Digital Economy, Dr. Bosun…
Business International investment Macroeconomic Dollar Stable Amid Rising Yields and Hawkish Fed Minutes January 9, 2025 Ekemini The US dollar held steady on Thursday, supported by climbing Treasury yields and the Federal Reserve’s hawkish stance, which suggests a slower pace of rate cuts in 2025. The Dollar…
Business International investment Macroeconomic European Stocks Dip as UK Retailers and Economic Data Take Center Stage January 9, 2025 Ekemini European stock markets edged lower on Thursday, weighed down by mixed economic data and corporate earnings. Germany’s DAX and France’s CAC 40 slipped by 0.2%, while the UK’s FTSE 100…
Business International investment Macroeconomic Asia FX weakens as hawkish Fed boosts dollar; yen rises on BOJ rate hike bets January 9, 2025 Ekemini Asian currencies faced pressure on Thursday as a stronger dollar gained momentum following hawkish Federal Reserve signals of slower rate cuts in 2025. Minutes from the Fed’s December meeting revealed…
Business International Technology Google Expands Efforts to Develop AI Models Simulating the Physical World January 9, 2025 Ekemini Google is embarking on a bold initiative to create generative AI models capable of simulating the physical world, signaling a significant stride toward artificial general intelligence (AGI). The company is…
Business Economy investment Local Micro Pension Plan Struggles to Gain Traction Despite Policy Efforts January 9, 2025 Ekemini Five years after its launch in 2019, Nigeria’s Micro Pension Plan (MPP) remains underwhelming in its adoption, despite deliberate policy initiatives by the National Pension Commission (PenCom). By June 2024,…
Business Finance Local Macroeconomic Naira down to N1,655/$ in parallel market January 9, 2025 Ekemini The Naira experienced further depreciation in the parallel market, sliding to N1,655 per dollar from N1,650 the previous day. Similarly, in the official Nigerian Foreign Exchange Market (NFEM), the currency…
Business investment Local Macroeconomic MTN Nigeria and Transcorp Lead as Nigerian Stock Market Gains N507bn January 9, 2025 Ekemini Investors on the Nigerian Exchange witnessed a significant gain of N507 billion on Wednesday, with market capitalization rising to N63.56 trillion from the previous session’s N63.05 trillion. The All-Share Index…
Business International Macroeconomic French Inflation Slows to 1.8% in December Falling Below Forecasts January 7, 2025 Ekemini According to preliminary data from INSEE, French inflation rose to 1.8% year-on-year in December, falling short of the anticipated 1.9%. While slightly higher than November’s 1.7%, the harmonized inflation rate,…
Business International Macroeconomic Dollar Declines as Markets Weigh Trump’s Tariff Proposals and U.S. Economic Data January 7, 2025 Ekemini The U.S. dollar edged close to a one-week low on January 7 as investors assessed the potential impact of President-elect Donald Trump’s tariff policies. Markets are speculating on the possible…
