Profit Up 29%, Rating Down to Junk: The Afreximbank Paradox
Africa’s largest trade finance institution, Afreximbank, is in the spotlight after Fitch Ratings downgraded the bank to junk status on…
Day: February 2, 2026
Nigeria Oil Exports to Drop as Bonga FPSO Undergoes Scheduled Maintenance
Nigeria’s oil exports will decline sharply in February as production from the Bonga Floating Production Storage and Offloading (FPSO) facility…
Nigeria’s Big 10 Stockbrokers Dominate NGX Trading With ₦7.4 Trillion Deals in 2025
In the fast-moving corridors of the Nigerian Exchange Limited (NGX), power in 2025 was anything but evenly spread. Ten brokerage…
Onitsha Main Market Reopens as Sit-at-Home Falters Under Soludo’s Directive
Economic activity returned to life at the Onitsha Main Market on Monday as traders reopened their shops, effectively weakening the…
CBN Tightens Liquidity, Withdraws N15 Trillion from Nigeria’s Financial System in January
Nigeria’s financial system faced intense liquidity pressure in January as the Central Bank of Nigeria (CBN) continued its aggressive monetary…
Telecoms Sector Expands with 2,850 New Sites and $1bn Investment in Q4 2025 – NCC Report
The Nigerian Communications Commission (NCC) has revealed significant progress in the nation’s telecoms sector, with the Q4 2025 Network Performance…
Nvidia CEO Denies OpenAI Investment Stall Amid $100B Partnership Talks
Nvidia CEO Jensen Huang has dismissed reports suggesting tension between his company and OpenAI, calling them “nonsense.” The comments follow…
Africa’s AI Drive Must Prioritize Human Factors, Expert Warns
Africa’s push to adopt artificial intelligence (AI) risks falling short if governments continue to focus solely on technology acquisition, a…
NNPC Unveils Gas Master Plan 2026, Targets 20 Million LPG Cylinders by 2030
The Nigerian National Petroleum Company Limited (NNPC Ltd) has officially unveiled its Gas Master Plan (GMP) 2026, signaling a bold…
Nigerian Manufacturers Face 21% Surge in Energy and Raw Materials Costs
Eight major Nigerian manufacturing firms spent a combined N1.01 trillion on energy and raw materials in the nine months ending…
Global Stocks, Oil, and Precious Metals Plunge Amid Tech Fears and Market Volatility
Global financial markets opened the week on a turbulent note as stocks, oil, and precious metals plunged, extending the volatility…
Bitcoin Falls Below $84,000 as $1 Billion ETF Outflows Shake Crypto Market
Bitcoin tumbled below the key $84,000 support level, hitting around $82,600, as massive outflows from cryptocurrency exchange-traded funds (ETFs) and…
Nigeria Removed from EU High-Risk List After Major Financial Reforms
Nigeria has officially been removed from the European Union’s high-risk list for money laundering and terrorism financing, marking a major…
FG Disburses N2.45 Trillion to States for Infrastructure and Security Projects
The Federal Government (FG) has disbursed a total of N2.45 trillion to Nigeria’s 36 states and the Federal Capital Territory…
European Stocks Slide as Precious Metals Crash Hits Mining and Tech Sectors
European stocks opened the week on a sour note, as investors reacted to volatility in precious metals and growing concerns…
UACN’s Acquisition of CHI Limited: A Strategic Gamechanger in 2025 Results
UAC Nigeria PLC (UACN) has unveiled its 2025 financial results, revealing a mixed performance that caught many investors’ attention. Profit…
NGX All-Share Index Falls 0.09% as Trading Activity Dips Amid Market Shifts
The Nigerian Exchange Limited (NGX) All-Share Index slipped 0.09% last week, closing at 165,370.40 points. Despite the slight drop in…
US-Nigeria Investment Partnership Launched to Boost Trade and Private-Sector Growth
The United States and Nigeria have officially launched the US-Nigeria Commercial and Investment Partnership (CIP), a five-year initiative designed to…
Nigeria’s Crude Exports to Drop 225,000 BPD as Shell Shuts Bonga FPSO for Maintenance
Nigeria’s crude oil exports are set to decline by about 225,000 barrels per day this February due to the planned…
Bank Stocks Drag NGX Lower Despite Fresh Listings Boosting Market Capitalisation
The Nigerian Exchange (NGX) ended the week on a subdued note as sustained selling pressure in banking stocks outweighed gains…
Oil Cash, Foreign Inflows Lift Nigeria’s External Reserves by $66m as Naira Hits Two-Year High
Nigeria’s external reserves recorded a modest rebound in January, rising by $66 million as stronger oil prices and renewed foreign…
VDL Technologies Sets Sights on Africa, Europe Expansion Amid Nigeria’s Economic Pressures
VDL Technologies has unveiled plans to expand its operations across Africa and Europe as it looks to scale beyond Nigeria’s…
Nigeria Hosts World Bank Talks to Drive Jobs, Investment and Economic Growth
Nigeria is hosting senior World Bank officials this week as part of renewed efforts to accelerate economic growth, attract investment,…
CBN Fintech Survey Signals Shift in Regulatory Approach to Nigeria’s Digital Finance Sector
The Central Bank of Nigeria (CBN) is set to release a landmark fintech survey report on Monday, February 2, offering…