Nigeria’s equity market saw a strong wave of dividend announcements in the third quarter of 2025, with twelve companies listed on the Nigerian Exchange rewarding shareholders with payouts ranging from N0.03 to N70 per share. The total value of these dividends, both interim and final, reached N234.9 billion, reflecting a robust performance following a strong […]
Year: 2025
Experts Urge Productive Investments as Key to Nigeria’s Eurobond Repayment
Nigeria’s recent $2.35 billion Eurobond issuance, its largest in four years, has reignited discussions on the country’s debt sustainability and fiscal strategy. The two-tranche sale—$1.25 billion 10-year bonds at 8.63% and $1.10 billion 20-year bonds at 9.13%—was oversubscribed more than five times, reflecting renewed investor confidence in Africa’s largest economy. Analysts attribute the strong demand […]
Nigeria’s FX Inflows Hit Five-Month High as Investor Confidence Surges
Nigeria’s foreign-exchange (FX) market recorded a remarkable rebound in October, reaching a five-month high as both foreign and domestic investors increased activity. Total inflows jumped 62.2% month-on-month to $5.15 billion, the highest since May, according to FMDQ data. Analysts attribute the surge to improving market sentiment and expectations of global monetary policy easing. Foreign investors […]
Nigeria Debt Hits N91.99 Trillion as Investors Brace for Higher Interest Rates
Nigeria’s total debt surged to N91.99 trillion last week as investors sold off bonds and Treasury bills in anticipation of higher interest rates. Data from FMDQ Group Plc for the week ending November 7, 2025, shows a 3.59% week-on-week increase from N88.8 trillion, reflecting rising borrowing costs across both sovereign and corporate instruments. Analysts say […]
Tinubu Orders Siemens Energy to Upgrade Major Power Substations to Three Phases
President Bola Tinubu has directed Siemens Energy to expand Nigeria’s major power substations from two to three phases, signaling a renewed commitment to ensuring stable, reliable, and affordable electricity across the country. The directive was issued during a Monday meeting at the State House, Abuja, with Siemens Energy’s delegation led by Dietmar Siersdorfer, Managing Director […]
LemFi Esewa Remittance Partnership Approved by Nepal Central Bank to Boost Money Transfer
LemFi, through RightCard Payment Services Limited, has secured approval from Nepal Rastra Bank, the Central Bank of Nepal, to partner with Esewa, Nepal’s leading digital payment platform. This move allows LemFi to expand its remittance services into Nepal, offering a reliable and compliant channel for money transfers from North America and Europe. The partnership is […]
Nigeria Crude Oil Earnings Drop by N824.66 Billion in 2024 Despite Revenue Growth
Nigeria’s crude oil and gas sector experienced a significant decline in profitability in 2024, with gross earnings falling by N824.66 billion. According to the Budget Implementation Report for Q4 2024 from the Budget Office of the Federation, gross profit dropped to N1.08 trillion from N1.90 trillion in 2023—a 43.32% year-on-year decline. This shortfall also missed […]
AI in Africa: How Kora’s Sundown Sessions is Shaping the Continent’s Digital Future
Lagos recently played host to a landmark event that is sparking conversations about Africa’s digital future. Kora, a leading payment infrastructure firm, organized the second edition of its flagship Sundown Sessions, themed “AI in Africa: Scaling Beyond the Hype.” The event drew over 400 entrepreneurs, creatives, and technology leaders to discuss how Artificial Intelligence (AI) […]
French Tech Startups Raise €6 Billion in 2025 Amid Growing Global Innovation
French tech startups have achieved a remarkable milestone in 2025, raising €6 billion from January to September, driven by growth in strategic sectors such as Artificial Intelligence, health technology, and green innovation. Laurent Favier, Consul General of France in Lagos, revealed this during the French Week startup summit in Lagos, emphasizing the dynamism of France’s […]
Nigerian Stocks Fall as Profit-Taking Wipes Out ₦471.99bn — NGX Opens Week on Bearish Note
The Nigerian stock market opened the week on a bearish note, with the Nigerian Exchange Limited (NGX) recording a ₦471.99bn dip in market capitalisation on Monday. The NGX All-Share Index dropped by 0.50 per cent to close at 148,781.90 points, extending the recent profit-taking trend that has gripped the market. As a result, investors saw […]
European Stocks Rise as U.S. Government Shutdown Nears Resolution
European markets opened higher on Tuesday as hopes grew that the prolonged U.S. government shutdown could soon be over. The positive sentiment boosted investor confidence across the region, signaling a potential rebound in global trading activity after weeks of uncertainty. According to early data from IG, the U.K.’s FTSE 100 was set to rise 0.6%, […]
Crucial Things to Consider When Buying Shares in Nigeria’s Stock Market
Investing in stocks remains one of the most powerful ways to build wealth, but it requires strategy, discipline, and knowledge. With hundreds of companies listed on the Nigerian Exchange (NGX), investors must learn how to separate opportunities from traps. In a market influenced by inflation, policy shifts, and global uncertainty, understanding what to consider before […]
Dangote Refinery’s Price Slash May End Petrol Imports in Nigeria as Marketers Shift Focus to Local Supply
Nigeria’s petroleum market is bracing for a major shift as marketers consider halting petrol imports following a fresh price cut by Dangote Petroleum Refinery. The refinery, Africa’s largest, slashed its ex-depot price of Premium Motor Spirit (petrol) by ₦49 per litre last Friday—reducing the gantry price from ₦877 to ₦828. The move is already reshaping […]
Nigerian Banks Earn Record N14.7tn Interest Income in Nine Months Amid High-Rate Economy
Nine of Nigeria’s biggest banks collectively earned a staggering ₦14.7 trillion in interest income between January and September 2025, according to data compiled from their unaudited financial statements filed with the Nigerian Exchange Limited. The figure marks a 27.7% rise from ₦11.53 trillion recorded in the same period of 2024, underscoring how a high-interest-rate environment […]
Lagos State Launches N214.8bn Bond to Fund Infrastructure and Green Projects
Lagos State has officially launched a dual bond offering worth N214.8 billion, marking its largest capital market move to date. The issuance includes a N200 billion Series IV Bond and a N14.815 billion Series III Green Bond under the state’s N1 trillion Debt and Hybrid Instruments Issuance Programme. Governor Babajide Sanwo-Olu said the bonds are […]
European Markets Rally as U.S. Government Shutdown Hopes Boost Investor Confidence
European markets opened sharply higher on Monday, driven by growing optimism that a U.S. government shutdown could soon end. The pan-European Stoxx 600 rose 1.5% by midday, with most sectors seeing gains as investors welcomed signs of stability in Washington. Major indexes across the continent followed suit, with the U.K.’s FTSE climbing nearly 1%, Germany’s […]
Nigeria Seeks $500 Million World Bank Loan to Boost MSME Financing
The Federal Government of Nigeria has formally requested a $500 million loan from the World Bank to improve financing for micro, small, and medium enterprises (MSMEs) across the country. The proposed initiative, named the Fostering Inclusive Finance for MSMEs in Nigeria (FINCLUDE) Project, is designed to attract private capital and introduce innovative financial products tailored […]
Dollar Inflows Into Nigeria Jump 62% in October, Boosting Investor Confidence
Nigeria’s foreign exchange market recorded a major rebound in October as total dollar inflows into Nigeria climbed by 62.2 percent month-on-month to $5.15 billion—the highest level in five months, according to data from the FMDQ. The sharp rise reflects renewed investor confidence, both foreign and domestic, amid a more favorable global monetary outlook and improving […]
Nigeria, IMF Strengthen Partnership on Economic Reforms and 2026–2030 Growth Plan
Nigeria has reaffirmed its commitment to evidence-based policymaking and inclusive economic transformation as the global economy pivots toward reform-driven growth. Over the weekend, a high-level delegation from the International Monetary Fund (IMF), led by Assistant Director of the African Department, Mr. Axel Schimmelpfennig, met with Nigeria’s Minister of Budget and Economic Planning, Senator Abubakar Bagudu, […]
Nigeria’s Crude Oil Earnings Plunge 43% Despite Production Rebound
Nigeria’s crude oil and gas profits dropped sharply by 43 per cent in 2024, falling to ₦1.08 trillion from ₦1.9 trillion in 2023, according to the Budget Office of the Federation’s fourth-quarter Budget Implementation Report. The slump came despite a modest recovery in oil production, underscoring persistent challenges in the country’s petroleum revenue performance. The […]
HEDA Urges Tinubu to Suspend 15% Fuel Import Tariff Amid Worsening Economic Hardship
The Human and Environmental Development Agenda (HEDA Resource Centre) has urged President Bola Ahmed Tinubu to suspend the implementation of the newly approved 15 per cent ad valorem import tariff on petrol and diesel. The group warned that enforcing the policy at this time could worsen the economic hardship currently being faced by millions of […]
Meta Earns $7 Billion Annually from Scam Ads, Internal Report Reveals
Meta Platforms Inc., the parent company of Facebook, Instagram, and WhatsApp, is under fire following revelations that it earns an estimated $7 billion annually from high-risk scam ads, according to internal documents obtained by Reuters. The report indicates that Meta displays around 15 billion scam-linked advertisements daily, many of which promote fake e-commerce schemes, illegal […]
OpenAI Urges Expansion of Chips Act Tax Credit to Support AI Data Centers
OpenAI is pushing the federal government to expand the Chips Act’s tax incentives beyond semiconductor manufacturing to support AI infrastructure, including data centers and servers. In a letter to the White House’s science and technology policy office, OpenAI argued that broadening the Advanced Manufacturing Investment Credit (AMIC) could lower capital costs, attract private investment, and […]
Nigeria’s Crude Oil Earnings Plummet 43% Despite Rising Production in 2024
Nigeria’s earnings from crude oil and gas sales plunged by 43% in 2024, even as production increased, highlighting persistent fiscal challenges for Africa’s largest oil producer. According to the fourth-quarter Budget Implementation Report released by the Budget Office of the Federation, gross profit from oil and gas sales fell from N1.90 trillion in 2023 to […]
Dollar Weakens on Hopes of U.S. Government Shutdown Ending Soon
The U.S. dollar weakened on Monday as investor optimism grew over a potential end to the prolonged government shutdown. The dollar index, which measures the greenback against six major currencies, slipped 0.1% to 99.643 following the Senate’s decision to advance a funding measure that could keep the federal government open through January. Market analysts say […]
FG Exceeds 2025 Borrowing Target by 55.6%, Raising Debt Sustainability Concerns
The Federal Government of Nigeria has borrowed N17.36 trillion from domestic and foreign sources in the first ten months of 2025, exceeding the prorated borrowing target of N10.9 trillion under the 2025 Appropriation Act by 55.6 percent. This surge in borrowing comes as the government prepares to raise an additional $2.35 billion (N3.384 trillion) through […]
Nigeria, IMF Strengthen Partnership on 2026–2030 Economic Reforms
Nigeria is intensifying its collaboration with the International Monetary Fund (IMF) as it charts a course for robust, reform-driven economic growth. Over the weekend, a high-level IMF delegation led by Axel Schimmelpfennig, Assistant Director of the African Department, met with Nigeria’s Minister of Budget and Economic Planning, Senator Abubakar Bagudu, in Abuja. The talks focused […]
National Payment Stack Executes First Bank-Fintech Transaction in Nigeria
The National Payment Stack (NPS) has achieved a major milestone in Nigeria’s digital finance landscape by completing its first transaction between a commercial bank and a financial technology company. The Nigeria Inter-Bank Settlement System (NIBSS) confirmed that PalmPay and Wema Bank were the first institutions to benefit from the groundbreaking infrastructure, marking the start of […]
Dangote and Fuel Depots Slash Petrol Prices in Fresh Market Battle
Nigeria’s downstream fuel market is witnessing a fresh price war as Dangote Refinery and private depot operators cut gantry prices to compete for market share. The move follows Dangote Refinery’s reduction of Premium Motor Spirit (PMS) from N877 to N828 per litre, a 5.6% drop, marking the second major price adjustment in three months. Analysts […]
ABCON Calls on CBN to Empower BDCs, Boost Forex Inflows and Stabilise Naira
The Association of Bureau De Change Operators of Nigeria (ABCON) has urged the Central Bank of Nigeria (CBN) to empower licensed BDC operators to strengthen foreign exchange inflows and stabilise the Naira during the upcoming festive season. ABCON President, Dr. Aminu Gwadabe, emphasized that BDCs, as the closest link to retail forex users, are critical […]