13% Derivation Fund Helps Oil-Producing States Slash Domestic Debt by N611bn Despite Rising Criticism
Oil-producing states in Nigeria have cut their combined domestic debt by about N610.84bn between June 2023 and March 2025, thanks…
Year: 2025
Stockbrokers Call for Capital Market Reforms to Achieve Nigeria’s $1 Trillion Economy Goal
The Chartered Institute of Stockbrokers (CIS) has urged the Federal Government to implement comprehensive capital market reforms as part of…
Trump Threatens Tariffs on Nations Over Digital Taxes Targeting US Tech Giants
President Donald Trump has warned of imposing additional tariffs and export restrictions on countries that enact laws perceived to target US technology…
Nigeria’s Oil Production Hits Six-Month High at 1.5m bpd, Surpasses OPEC Quota Again
Nigeria’s crude oil production climbed to its highest level in six months in July, marking a strong rebound after early-year…
Meta Expands Africa’s Digital Infrastructure with New Data Centers and 2Africa Cable Investment
Meta is intensifying its efforts to boost Africa’s digital transformation through major investments in data centers and subsea cable projects.…
First Fund Customers Threaten Protest Over GH¢170m Locked Funds After Six-Year Delay-Ghana
Aggrieved investors of First Fund, a scheme formerly managed by the defunct First Banc Financial Services, have issued a two-week…
Ghana Attracts $652 Million in Investments in 2024 Despite 5% FDI Decline
Ghana secured $651.7 million in investments in 2024, reflecting resilience in its investment climate despite a 5% year-on-year dip in…
Banks’ Cash Deposits with CBN Drop 41.6% as Borrowing Hits ₦820bn Amid Tight Liquidity
Nigeria’s banking sector experienced a dramatic liquidity shift last week as commercial banks slashed excess cash deposits with the Central…
US Records $576 Million Trade Surplus with Nigeria in 2025 as Exports Surge, Imports Decline
The United States swung to a $576 million trade surplus with Nigeria in the first half of 2025, marking a sharp turnaround…
Dangote Refinery Fuel Rollout Stalled as FG, Marketers Clash Over CNG Logistics Plan
The planned nationwide rollout of petroleum products by Dangote Petroleum Refinery has hit a major setback following a deadlock between…
Tinubu Secures Petrobras’ Return to Nigeria, Signs Landmark Nigeria–Brazil Trade and Energy Agreements
President Bola Tinubu has announced the imminent return of Brazil’s state-owned oil giant Petrobras to Nigeria, five years after the…
European Markets Set for Lower Open Amid Trump-Fed Clash and French Budget Uncertainty
European stock futures are pointing to a weaker open on Tuesday as investors react to heightened global political tensions. Markets…
NGX Dividend Drought: 45 Companies Go Five Years Without Payouts
Forty-five of the 146 companies listed on the Nigerian Exchange Limited (NGX) have not paid dividends in at least five…
U.S. Trade Surplus with Nigeria Hits $576 Million in 2025 Amid Rising Tariffs
The United States recorded a $576 million trade surplus with Nigeria in the first half of 2025, reversing a $779…
OpenAI Warns Against Unauthorized Equity Sales Amid $300B Valuation and Jony Ive Acquisition Plans
OpenAI has issued a stern warning to investors and the public over unauthorized sales and investment schemes involving its equity,…
Meta and X Face NITDA Sanctions for Flouting Nigeria’s Internet Code of Practice
Meta, the owner of Facebook, Instagram, WhatsApp, and Threads, and X, formerly Twitter, have been flagged for non-compliance with Nigeria’s…
Naira to Gain Temporary Boost as U.S. Plans Interest Rate Cuts
The naira could experience a short-term appreciation against the U.S. dollar as the Federal Reserve signals potential interest rate cuts. Analysts…
Africa Prudential Records 75% Profit Growth in H1 2025 on Strong Diversified Income
Africa Prudential Plc has reported a robust financial performance for the first half of 2025, posting a 75 percent year-on-year…
Nigeria’s Financial Markets Show Resilience Amid Global Economic Uncertainty
Nigeria’s economy expanded by 3.13% in Q1 2025, surpassing last year’s 2.27% but falling short of the 4.9% forecast, highlighting…
Ghana Pays GH¢9.7bn DDEP Coupon to Restore Investor Confidence Ahead of Bond Market Return
Ghana’s government has settled GH¢9.7 billion in coupon arrears under the Domestic Debt Exchange Programme (DDEP), a move expected to…
Dangote Refinery Receives 1,000 CNG Trucks, Fuel Distribution to Begin in South-West Nigeria
The Dangote Petroleum Refinery is set to launch its direct fuel distribution scheme in the coming weeks as 1,000 Compressed…
Nigeria Data Protection Act Enforcement: NDPC Targets Banks, Insurers, and Tech Firms with 21-Day Compliance Deadline
The Nigeria Data Protection Commission (NDPC) has launched an aggressive enforcement drive targeting financial institutions and tech firms over compliance…
Dangote Refinery and Petrol Prices: 10 Swings in 10 Months Despite Local Supply
Nigeria’s petrol market has experienced dramatic volatility since the Dangote Refinery began supplying fuel in September 2024, despite hopes for…
CBN Raises ₦8.99 Trillion via T-Bills in 7 Months as Rates Drop to 15%
The Central Bank of Nigeria (CBN) raised a total of ₦8.99 trillion through Treasury Bills (T-Bills) auctions in the first seven…
Nigerian Breweries, International Breweries, Champion Breweries Post N1.09 Trillion Revenue in H1 2025 Amid Inflation Pressures
Nigerian Breweries Plc, International Breweries Plc, and Champion Breweries Plc collectively recorded an impressive N1.09 trillion in revenue for the…
FCMB Group Plans Equity Capital Raise to Fund Regional and International Expansion
FCMB Group Plc has announced plans to raise equity capital as part of its strategy to strengthen its capital base…
Nigeria’s GDP to Grow 3.2%-3.9% in Q2 2025 on Rebasing, FX Stability, and Stronger Business Activity
Nigeria’s economy is on track to post faster growth in the second quarter of 2025, with analysts projecting real GDP…
U.S. Treasury Yields Edge Higher as Investors Await Inflation Data
U.S. Treasury yields ticked higher on Monday as investors assessed Federal Reserve Chair Jerome Powell’s recent comments and shifted focus…
European Stocks Open Lower as Orsted Plunges 18% Amid U.S. Project Halt
European markets started the week on a weaker note, with the pan-European Stoxx 600 slipping 0.2% in early trading on…
Ghana Misses T-Bill Target for Third Consecutive Week as Yields Climb
Ghana’s Treasury Bill market remained under pressure last week as the government failed to meet its issuance target for the…