Business Economy Local Nigeria Shifts to Tax-Driven Revenue Model as Oil Income Plummets by 26% Over 15 Years April 7, 2026 Ekemini Uba Nigeria’s federal revenue landscape is undergoing a historic transformation, with tax and non-oil income increasingly driving government finances. According to a new report by Quartus Economics, tax revenue has grown…
Business Economy Local FG Raises 2026 Borrowing to N29.2 Trillion as Nigeria’s Fiscal Deficit Widens April 7, 2026 Ekemini Uba The Federal Government of Nigeria has raised its borrowing plan for 2026 to N29.2 trillion, reflecting a sharp increase in the nation’s fiscal deficit. The new figure, detailed in the…
Business Finance Local Naira Settlement Policy Transforms Nigeria’s Diaspora Remittance System April 7, 2026 Ekemini Uba The Central Bank of Nigeria (CBN) has unveiled a landmark naira settlement policy that will transform how diaspora remittances are received across the country. Starting May 1, all international money…
Business Local AfDB Approves $11.3M for Mini-Grids to Boost Electricity Access in Nigeria and 13 African Countries April 7, 2026 Ekemini Uba The African Development Bank (AfDB) has approved $11.3 million in renewable energy funding to expand electricity access in Nigeria and 13 other African nations. The program targets underserved and fragile…
Business Finance International Asia-Pacific Markets Trade Mixed Amid U.S.-Iran Tensions and Strait of Hormuz Deadline April 7, 2026 Ekemini Uba Asia-Pacific markets traded mixed on Tuesday as investors navigated growing geopolitical uncertainty surrounding the U.S.-Iran conflict. The trading session reflected cautious sentiment, with major indices showing modest gains and losses…
investment Local Stock Best Performing Nigerian Stocks for Easter Week 2026: MTN and GTCO Lead Gains April 7, 2026 Ekemini Uba The Nigerian equities market posted modest gains during the Easter week ended April 2, 2026, with the All-Share Index rising by 785.83 points to close at 201,698.89. Key drivers included…
Business Finance Local NGX Weekly Turnover Falls to 2.856 Billion Shares Amid Shortened Trading Week April 7, 2026 Ekemini Uba Activity on the floor of the Nigerian Exchange Limited (NGX) slowed sharply last week as trading was limited to four days ahead of the Easter public holidays. With the federal…
Business Finance Local Africa Prudential Strengthens Performance and Accelerates Digital Growth in 2025 April 7, 2026 Ekemini Uba Africa Prudential Plc has reaffirmed its financial resilience and growth momentum, sustaining strong returns while deepening its digital footprint, despite ongoing macroeconomic pressures. The announcement was made at the company’s…
Business investment Local Ghana Stock Market Boom Sparks Crackdown on Unlicensed Online Investment Advisors April 7, 2026 Ekemini Uba Ghana’s thriving stock market is drawing increasing attention, but it’s also triggering regulatory warnings. The Securities and Exchange Commission (SEC) has raised concerns about a growing number of unlicensed individuals…
Business Economy International Rising Oil Prices Weaken African Currencies, Deepen Inflation Risks Across the Continent April 7, 2026 Ekemini Uba African economies are facing a sharp financial strain as global oil prices surge by over 50 percent, pushing crude above $100 per barrel amid the ongoing US-Israel-Iran conflict. The African…
Business Economy Local US-Iran War Sparks Economic Strain on Nigerian Businesses and Consumers April 7, 2026 Ekemini Uba The Nigerian business economy is under renewed strain as the ongoing war between the United States and Iran, which erupted on February 28, continues to ripple through local markets. Traders…
Business International World UN Warns Trump Against Iran Strikes as Deadline Nears: Tensions Escalate in Middle East April 7, 2026 Ekemini Uba The United Nations has issued a stark warning to United States President Donald Trump, cautioning that his threats to attack Iran’s civilian infrastructure could breach international law. The warning comes…
Business International Market Treasury Yields Steady After Strong U.S. Jobs Report as Middle East Tensions Cloud Outlook April 7, 2026 Ekemini Uba U.S. Treasury yields held steady on Monday as investors weighed a surprisingly strong March jobs report against rising geopolitical tensions in the Middle East. The calm in the bond market…
Business Economy Local Nigeria’s Foreign Reserves Drop by $850 Million Amid Election Spending and FX Pressures April 7, 2026 Ekemini Uba Nigeria’s foreign reserves have declined by about $850 million within three weeks, raising fresh concerns among forex traders and market watchers about mounting economic pressures. Data from the Central Bank…
Local Technology Nigeria’s $850 Million Foreign Cloud Dependence Exposes Fintech Sector to Global Risks April 7, 2026 Ekemini Uba Nigeria’s fast-growing digital economy is facing new scrutiny as companies spend an estimated $850 million annually on foreign cloud services. From fintech platforms to government systems, critical digital operations are…
Business International Market Asia-Pacific Markets Plunge as Oil Surges After Trump’s Iran War Speech April 2, 2026 Ekemini Uba Asia-Pacific markets experienced sharp losses on Thursday, reversing earlier gains, as oil prices surged following a high-stakes address from U.S. President Donald Trump on the Iran conflict. Major indexes across…
Business Economy Local Ghana Reference Rate Drops to 10.06% as Lending Costs Start to Ease April 2, 2026 Ekemini Uba Ghana’s financial landscape is seeing a welcome shift as the Ghana Reference Rate (GRR) falls to 10.06% in April 2026, down from 11.71% in March. The benchmark, which banks use…
Local Technology NCC Urges Patience as Telecom Operators Held Accountable for Service Quality April 2, 2026 Ekemini Uba The Nigerian Communications Commission (NCC) has called on Nigeria’s 184 million active telecom subscribers to remain patient as the country’s telecom operators work to improve service quality. The regulator emphasized…
Business Economy Local Nigeria’s Economic Growth Slows in March 2026 Amid Rising Costs – CBN PMI Report April 2, 2026 Ekemini Uba Nigeria’s economy maintained its growth streak in March 2026, with the Central Bank of Nigeria (CBN) reporting a composite Purchasing Managers’ Index (PMI) of 53.2 points. This marks 16 consecutive…
Business International NGX Group Hosts African Exchange Leaders with Dangote to Boost Cross-Border Listings April 2, 2026 Ekemini Uba The Nigerian Exchange Group (NGX Group) convened a high-level gathering of chief executives and senior representatives from Africa’s leading capital markets in Lagos, aiming to accelerate cross-border listings and promote…
Business Local Technology Google and Slum2School Launch “Stories from Our Home” to Preserve Nigerian Folktales April 2, 2026 Ekemini Uba Google has teamed up with Slum2School Africa and top Nigerian creators to bring the magic of local stories to children through a unique folktale coloring book. The project, titled “Stories…
Business Economy investment Local Nigeria Eyes Global Markets to Boost Trade Amid Structural Challenges April 2, 2026 Ekemini Uba The federal government is accelerating its push toward an export-driven economic model, with Finance and Coordinating Minister Wale Edun emphasizing that Nigeria must reposition itself as a major player in…
Business Local Stock Banking Stocks Propel Nigerian Market to N599 Billion Gain as Q2 2026 Kicks Off April 2, 2026 Ekemini Uba The Nigerian stock market opened the second quarter of 2026 on a high note, recording a significant N599 billion gain driven mainly by a rebound in tier-1 banking stocks. Guaranty…
Business Economy Finance Local Nigerian States Return to Borrowing Despite FAAC Windfall: Debt Hits N4 Trillion April 2, 2026 Ekemini Uba Nigerian states are returning to heavy borrowing even as allocations from the Federation Account Allocation Committee (FAAC) have soared by 161% over the past three years. Analysts warn that this…
Business Energy Local Nigeria Launches 950,000-Barrel Export of New Cawthorne Crude, Boosting Energy Security April 2, 2026 Ekemini Uba The Nigerian National Petroleum Company Limited (NNPC) has successfully exported 950,000 barrels of the newly developed Cawthorne blend crude, marking a historic moment for the nation’s oil sector. The shipment,…
Business Energy Local Politics Tinubu’s Naira-for-Crude Policy Ensures Fuel Supply Stability Amid Global Energy Crisis April 2, 2026 Ekemini Uba President Bola Tinubu’s Naira-for-Crude initiative has helped Nigeria maintain a stable supply of petroleum products, even as countries worldwide face severe fuel shortages amid the Iran-Israel-US conflict in the Middle…
Business Energy Local Nigeria’s Oil and Gas Reserves Reach 37 Billion Barrels and 215 TCF in 2026, NUPRC Confirms April 2, 2026 Ekemini Uba The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially confirmed the country’s total petroleum reserves at 37.01 billion barrels of crude oil and condensate, alongside 215.19 trillion cubic feet (TCF)…
Banking Business Local CBN Bank Recapitalization Set to Boost SMEs and Strengthen Nigeria’s Financial Sector April 2, 2026 Ekemini Uba The Central Bank of Nigeria (CBN) has confirmed that 33 banks successfully met the revised minimum capital requirements under its recently concluded recapitalization program. Over the 24-month initiative, Nigerian banks…
Business Economy Local Hot Money Inflows Drive Nigeria’s $23B Capital Surge, But Analysts Warn of Volatility April 2, 2026 Ekemini Uba Nigeria’s capital importation surged to $6.44 billion in the fourth quarter of 2025, pushing total inflows for the year to $23.22 billion, nearly double the $12.32 billion recorded in 2024,…
Business Energy International Oil Prices Surge Over 5% as Trump Warns US Will Hit Iran “Extremely Hard” April 2, 2026 Ekemini Uba Oil prices jumped sharply on Thursday, climbing more than 5% after U.S. President Donald Trump signalled that the United States would maintain its military offensive against Iran for the next…
