Credit to Nigeria’s private sector rose sharply in October 2025, climbing to N74.41 trillion from N72.53 trillion in September, according to the Central Bank of Nigeria’s latest money and credit statistics. The N1.88 trillion increase, representing a 2.60% month-on-month growth, marks the strongest single-month rise so far this year, signaling renewed lending activity after months […]
Year: 2025
FCMB AgriTech Hackathon 2025 Empowers Startups to Transform Nigeria’s Agricultural Sector
First City Monument Bank (FCMB), in collaboration with the Dutch Entrepreneurial Development Bank and HeaveVentures, successfully concluded the FCMB AgriTech Hackathon 2025, an initiative aimed at accelerating innovation and digital transformation in Nigeria’s agricultural sector. The event showcased the growing role of technology in addressing challenges across the country’s agricultural value chain. The hackathon brought […]
Nigeria’s VAT Revenue Hits N2.06 Trillion in Q2 2025, Driven by Manufacturing and ICT
Nigeria’s Value Added Tax (VAT) revenue remained largely stable at N2.06 trillion in the second quarter of 2025, according to the latest report released by the National Bureau of Statistics (NBS) on Tuesday in Abuja. This figure represents a marginal 0.03% decline compared to the N2.06 trillion collected in Q1 2025, signaling steady fiscal performance […]
Nigerian Breweries Increases Product Prices Amid Rising Operational Costs
Nigerian Breweries Plc has announced a price increase across its range of beverages, including Star Lager, Gulder Lager, Budweiser, and malt drinks, citing persistently high operational and input costs. The company informed distributors in the West Zone that the adjustments would take effect from Tuesday, November 25, 2025, assuring partners that confirmed orders before the […]
Bank of Ghana Targets Deeper Lending Rate Cuts to Boost Private-Sector Growth
The Bank of Ghana (BoG) is stepping up efforts to bring down lending rates, with Governor Dr. Johnson Asiama reaffirming his target of a 10 percent average rate before the end of his tenure. Speaking after the 127th Monetary Policy Committee (MPC) meeting, Dr. Asiama described the goal as “essential for unlocking stronger private-sector growth” […]
SEC Orders Capital Market Operators to Fully Comply with ISA 2025 by January 2026
The Securities and Exchange Commission (SEC) has directed all Capital Market Operators (CMOs) to declare their compliance level and ensure that all tradable instruments are registered in line with the Investments and Securities Act (ISA) 2025 by January 2026. The move aims to strengthen regulation and protect investors in Nigeria’s rapidly evolving financial landscape. Dr. […]
European Markets Open Mixed as Investors Weigh Global Economic Outlook
European markets are set for a mixed and cautious start on Thursday as investors take a moment to assess both regional and global economic developments. Traders are showing restraint after a recent surge in stocks, reflecting a pause amid uncertainties around central bank policies and economic data. In early trading, the U.K.’s FTSE index is […]
Dangote Refinery Cuts Nigeria’s Malta Petrol Imports by 60% as Local Supply Surges
Nigeria’s petrol imports from Malta have fallen sharply, dropping by 60 percent in 2024, as the Dangote Petroleum Refinery ramps up its output and reshapes the country’s fuel supply landscape. Fresh data from TradeMap reveals that Nigeria imported about $818 million worth of petroleum products from Malta in 2024—down steeply from over $2.1 billion in […]
AfDB Approves $500m Loan to Boost Nigeria’s Energy Reforms and Fiscal Stability
The African Development Bank has approved a fresh $500 million loan to support Nigeria’s ongoing economic governance and energy transition reforms, marking a major step toward stabilising public finances and improving electricity access for millions of citizens. Announced in Abidjan, the funding forms the second phase of the Economic Governance and Energy Transition Support Programme, […]
High Lending Rates in Nigeria Strangling Production, MAN Urges CBN to Cut Interest Rates
The Manufacturers Association of Nigeria (MAN) has raised fresh concerns over the country’s high lending rates, warning that steep borrowing costs are crippling production and eroding the competitiveness of local industries. The association urged the Central Bank of Nigeria (CBN) to consider further rate cuts to ease financial pressure on manufacturers, many of whom are […]
Nigeria’s Creative Economy: Experts Explore Models to Drive Social Impact and Investment
Leading experts and industry stakeholders convened in Lagos to explore practical strategies for harnessing Nigeria’s rapidly growing creative economy. The event, hosted by Eden Venture Group in partnership with the World Bank, marked the Nigerian pilot edition of Entertaining Change: Next-Generation Media Partnerships for Social Impact and Innovation. The global initiative, which also includes sessions […]
Ghana Poised for Major Interest Rate Cut as Inflation Falls to Four-Year Low
Ghana is preparing for what could be its third consecutive major interest rate cut, as the country’s inflation continues to cool faster than anticipated. With price growth now expected to drop below the central bank’s target band by year-end, policymakers are signaling confidence that economic stability is returning. The next monetary policy announcement is set […]
Nigeria’s monthly trade surplus falls 35% to $1.39bn
The Nigerian equities market staged an impressive rebound on Tuesday, recovering N95 billion in market capitalization after six straight sessions of declines. The market uplift came shortly after the Central Bank of Nigeria (CBN) announced it would maintain its tight monetary policy stance, leaving benchmark interest rates unchanged. Investors appeared encouraged by the CBN’s decision, […]
Nigerian Tech Firm, Task Systems, wins Microsoft Best Partner Award in US
Nigeria’s technology landscape received global recognition as Task Systems Limited, a leading indigenous ICT firm, won the prestigious Microsoft Partner of the Year Award in the United States. Emerging among 42 winners from over 4,000 contenders across 100 countries, the achievement underscores the company’s role in shaping Africa’s digital transformation. For Nigeria, the award is […]
Analysts Warn CBN’s 27% MPR Could Stifle Growth as Businesses Face Rising Credit Pressures
The Central Bank of Nigeria’s (CBN) decision to keep the Monetary Policy Rate (MPR) at 27 percent has sparked fresh concerns among economists and business leaders who fear the tight monetary stance may slow economic growth. While the apex bank maintains that high rates are necessary to contain inflation, analysts warn that the cost of […]
Experts Advocate Innovation and Partnership for Sustainable Digital Transformation in Africa
In a bid to foster an inclusive and sustainable digital ecosystem, Adeyinka Adedokun, CEO and Principal Consultant of Avetium Consult Limited, has emphasised the importance of integration and collaboration across platforms. Speaking at a digital transformation dialogue in Lagos, Adedokun stressed that unified systems can deliver operational efficiency and long-term growth for businesses. The event, […]
OpenAI and Perplexity Launch AI Shopping Assistants, but Startups Remain Confident
With the holiday shopping season approaching, OpenAI and Perplexity have rolled out AI shopping assistants designed to help users research and discover products more efficiently. OpenAI’s ChatGPT now allows shoppers to request tailored suggestions, such as “a gaming laptop under $1000 with a 15-inch screen,” or even find similar items to high-end fashion pieces at […]
Africa’s $100 Billion SME Credit Gap Spurs Banks and Fintechs into Strategic Partnerships
Africa faces an estimated $100 billion shortfall in credit for small and medium enterprises (SMEs), prompting banks, fintech startups, and telecom operators to form unexpected alliances to bridge the financing gap. According to the African Development Bank (AfDB), limited access to credit remains one of the continent’s biggest barriers to industrial growth, job creation, and […]
Oil Prices Rise After One-Month Low Amid Signs of Ukraine-Russia Peace Progress
Oil prices edged higher on Wednesday, rebounding slightly after falling to a one-month low in the previous session, as markets reacted to signs that Ukraine and Russia may be approaching a U.S.-backed peace agreement. Traders are closely watching developments that could eventually ease Western sanctions on Russian crude, reshaping global oil flows. Brent crude futures […]
Nigeria Reaffirms Commitment to Global Aviation Safety at 42nd ICAO Assembly
Nigeria has reinforced its commitment to global aviation safety standards as its delegation, led by Minister of Aviation and Aerospace Development Festus Keyamo, attended the 42nd Assembly of the International Civil Aviation Organization (ICAO) in Montreal, Canada. The Nigerian delegation highlighted the country’s ongoing efforts to align its aviation sector with international safety, security, and […]
Dollar Weakens as U.S. Economic Data Fuels Expectations of December Fed Rate Cut
The U.S. dollar weakened on Tuesday as a mix of economic indicators, some delayed due to the recent government shutdown, reinforced market expectations that the Federal Reserve could cut interest rates next month. In late-morning U.S. trading, the euro rose 0.5% to $1.1577, while the British pound gained 0.6% to $1.3184. Meanwhile, the dollar index, […]
Nigerian Equities Market Rebounds with N95 Billion Gain as CBN Holds Rates Steady
The Nigerian equities market staged a notable recovery on Tuesday, November 25, bouncing back from six consecutive days of declines. The market gained N95 billion in total capitalization to close at N91.441 trillion, with the benchmark All-Share Index (ASI) advancing by 148.52 points, or 0.10%, to 143,763.13 points. Key gains in stocks such as GTCO […]
Ghana Cedi Surges 32% Against Dollar in 2025: Strongest Performance in West Africa
Ghana’s cedi has continued its remarkable upward trajectory in 2025, recording a 32.2% appreciation against the US dollar on the interbank market over the first eleven months of the year. According to the Bank of Ghana’s November 2025 Summary of Economic and Financial Data, the local currency closed the month at GH¢11.12 to the dollar, […]
Nigeria to save millions in FX as export tests get global approval
Nigeria is set to save millions of dollars in foreign exchange after the Nigeria National Accreditation System (NINAS) received global accreditation, allowing export test results and quality certificates from the country to be accepted in more than 140 nations. The announcement, made in Abuja, marks a significant breakthrough for the nation’s exporters, who previously faced […]
Nigeria Champions Africa’s Digital Sovereignty and Regional Collaboration at ICEGOV 2025
Nigeria has once again positioned itself at the forefront of Africa’s digital transformation, as the Director-General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi, emphasized the importance of digital sovereignty and regional collaboration for the continent’s future. Speaking at the 18th International Conference on Theory and Practice of Electronic Governance (ICEGOV 2025) […]
NGX Rebounds After Six-Day Slump, Adds N94.47bn in Market Value
Bullish trading returned to the Nigerian Exchange Limited (NGX) on Tuesday, breaking a six-day losing streak that had dented investor confidence. The All-Share Index rose by 0.10 per cent to close at 143,763.13 points, while Market Capitalisation increased to N91.44 trillion, resulting in a N94.47 billion gain for market participants. Analysts attributed the positive shift […]
European Stocks Poised to Rise as Fed Rate Cut Expectations Grow Ahead of UK Budget
European stocks are set to open higher on Wednesday as investor expectations build for a potential U.S. Federal Reserve interest rate cut in December. The move comes as global markets react to signals from Fed officials and the broader economic outlook. Data from IG shows the U.K.’s FTSE index could rise 0.25%, Germany’s DAX up […]
Champion Breweries Launches N15.91bn Rights Issue to Boost Growth
Champion Breweries Plc has officially launched a N15.91 billion rights issue, inviting its qualified shareholders to participate in the capital-raising initiative. The offer includes 994,221,766 ordinary shares valued at N16 per unit, each with a nominal value of N0.50, according to a statement filed with the Nigerian Exchange Limited (NGX). The capital-raising programme was approved […]
Sanwo-Olu Presents N4.2tn ‘Budget of Shared Prosperity’ for 2026 to Lagos Assembly
Lagos State Governor Babajide Sanwo-Olu on Tuesday submitted a landmark N4.237 trillion 2026 budget proposal to the Lagos State House of Assembly, marking the state’s biggest spending plan yet. The governor arrived at the Assembly complex amid heightened security, where police officers, NSCDC personnel, and the Lagos Neighbourhood Safety Corps ensured tight access control around […]
CBN Confirms 16 Banks Have Met Recapitalisation Target as March 2026 Deadline Nears
The Central Bank of Nigeria (CBN) has confirmed that 16 Nigerian banks have now met the recapitalisation threshold, marking a significant milestone in the sector’s push to strengthen its financial base ahead of the March 2026 compliance deadline. CBN Governor Olayemi Cardoso announced the progress on Tuesday during a press briefing following the Monetary Policy […]