Fuel Price Hike in Nigeria: TUC Proposes Crude Subsidy for Local Refineries to Ease Costs
The Trade Union Congress (TUC) of Nigeria has called on the federal government to intervene in the rising cost of…
Month: April 2026
NNPC Pushes AI Adoption, Targets $34bn Investment Pipeline to Cut Oil Production Costs
The Nigerian National Petroleum Company Limited (NNPC Ltd) has revealed a major push toward artificial intelligence (AI) and digital transformation…
Naira Strengthens to N1,365 per Dollar as Global Dollar Weakness Drives Market Gains
The naira appreciated to ₦1,365 per dollar on Thursday, extending gains as the U.S. dollar weakened across global markets. The…
GTCO, Aradel Lead Value Trades as NGX All-Share Index Breaks 203,000 Milestone
The Nigerian equities market extended its bullish run on April 9, 2026, as the All-Share Index climbed 0.28% to close…
NGX Banking Stocks Drive 0.28% Market Growth as Investors Rally in Late Trading
The Nigerian equities market ended Thursday’s trading session on a positive note, as a late surge in banking stocks pushed…
PIA reforms drive over $10bn upstream oil investment in Nigeria – NUPRC
The implementation of the Petroleum Industry Act (PIA) and sweeping regulatory reforms have triggered a major boost in Nigeria’s energy…
Africa’s internet freedom lags global leaders, study shows
Africa’s internet freedom continues to trail behind global leaders, according to a new report by Cloudwards that assessed digital rights…
CBN Warns Banks Against Excessive Risk-Taking After Recapitalisation Drive
The Central Bank of Nigeria (CBN) has cautioned commercial banks against engaging in excessive risk-taking following the conclusion of the…
Naira vs Pound Stability at N1,862 Signals Market Calm in Nigeria FX Market
The Nigerian naira showed relative stability against the British pound sterling, closing at N1,862/£1 in the official foreign exchange market…
Nigeria Poverty Rate Hits 63% in 2025 Despite Inflation Slowdown – World Bank Report Raises Economic Concerns
Nigeria’s poverty rate climbed to 63% in 2025, even as inflation showed signs of easing, according to a new World…
BREAKING: NAICOM rolls out Mandatory Policyholders’ Protection Fund, tightens insurance compliance
The National Insurance Commission (NAICOM) has issued sweeping new guidelines mandating all insurers and reinsurers to contribute to the Insurance…
OpenAI Launches $100 ChatGPT Pro Plan to Compete with Rivals
OpenAI has introduced a new $100 per month ChatGPT Pro plan, responding to long-standing demand from power users who need…
Nigeria’s Tax Overhaul Tightens Profit Rules for Insurers, Reshapes Industry Landscape
Nigeria’s insurance industry is entering a new phase of stricter regulation as recent tax reforms redefine how companies calculate profits,…
IMF Warns of Rising Risks as $4 Trillion Nonbank Capital Flows Reshape Emerging Markets
Emerging-market economies are undergoing a major financial shift as companies and governments increasingly rely on nonbank capital flows to fund…
Nigeria Oil Output Hits 1.84mbpd as Lawmakers Back Pipeline Surveillance Contracts
Nigeria’s crude oil production has climbed sharply to 1.84 million barrels per day (bpd) in 2025, marking a significant recovery…
NNPC Pushes AI Adoption to Boost Nigeria’s Oil Output to 3mbpd
The Nigerian National Petroleum Company Limited (NNPC) is accelerating the adoption of artificial intelligence (AI) in its upstream operations as…
Intra-African Trade Set to Hit $230bn by 2026 as AfCFTA Drives Growth
Intra-African trade is projected to reach $230 billion by 2026, driven largely by the accelerated implementation of the African Continental…
Top 10 Equity Mutual Funds in Nigeria by YTD Returns (March 2026) – ARM Fund Leads with 108% Growth
Nigeria’s equity mutual funds are gaining renewed attention as investors increasingly look beyond low-risk instruments in search of higher returns.…
Nigeria’s Crude Oil Output Hits 1.84 Million BPD as Pipeline Security Improves
Nigeria’s crude oil production has surged from a historic low of 960,000 barrels per day (bpd) in 2022 to an…
Nigeria Reclaims Frontier Market Status as NGX Surges
Nigeria has officially regained its Frontier Market status from global index provider FTSE Russell, reflecting significant improvements in the Nigerian…
World Bank Downgrades Nigeria’s 2026 Economic Growth to 4.1% Amid Global Uncertainty
The World Bank has revised Nigeria’s economic growth forecast for 2026 downward to 4.1 percent, reflecting persistent global uncertainties and…
Strategic Partnerships Urged Between Host Communities and Oil Companies to Boost PIA Implementation
Stakeholders in Nigeria’s oil sector are advocating for stronger strategic partnerships between host communities, oil and gas companies, regulators, and…
Treasury Bills Boost Interest Income for Nigerian Banks by 43% in 2025
Zenith Bank, GTCO, and FirstHoldCo collectively earned N2.85 trillion from Treasury bills in 2025, reflecting a sharp 43.03% increase from…
African Development Bank Launches $20 Million Green Hydrogen Funding to Boost Africa’s Clean Energy
The African Development Bank (AfDB) has announced a $20 million funding initiative aimed at accelerating green hydrogen projects across Africa.…
Dangote Cuts Petrol Prices to N1,200 After Global Crude Oil Drop
In a surprising reversal, the Dangote Petroleum Refinery & Petrochemicals has cut the ex-gantry price of Premium Motor Spirit (petrol)…
World Bank Flags Fiscal Risks in Nigeria’s N4tn Power Sector Bond
The World Bank has raised concerns over Nigeria’s N4tn bond programme designed to settle long-standing debts owed to power-generating companies.…
ADB Posts GH¢367 Million Profit After Tax as Capital Adequacy Ratio Soars to 27.17%-Ghana
Agricultural Development Bank (ADB) PLC has delivered a remarkable financial turnaround, posting a profit after tax of GH¢367.2 million for…
Oil Prices Plunge 14% to $94 Amid US-Iran Ceasefire: Impact on Nigeria’s Bonny Light
Nigeria’s Bonny Light crude has tumbled by 14.2%, falling to $94.41 per barrel from $110 per barrel, following the announcement…
Nigeria’s Power Sector Contributes N62.12 Billion in Company Income Tax in 2025 Amid Declining Performance
Nigeria’s power sector contributed N62.12 billion in Company Income Tax in 2025, according to the National Bureau of Statistics (NBS).…
Kenya Central Bank Holds Interest Rate at 8.75% Amid Iran Conflict Uncertainty
Kenya’s Central Bank has decided to maintain its benchmark interest rate at 8.75%, pausing nearly two years of gradual cuts.…