Nigeria Shifts to Tax-Driven Revenue Model as Oil Income Plummets by 26% Over 15 Years
Nigeria’s federal revenue landscape is undergoing a historic transformation, with tax and non-oil income increasingly driving government finances. According to…
Month: April 2026
FG Raises 2026 Borrowing to N29.2 Trillion as Nigeria’s Fiscal Deficit Widens
The Federal Government of Nigeria has raised its borrowing plan for 2026 to N29.2 trillion, reflecting a sharp increase in…
Naira Settlement Policy Transforms Nigeria’s Diaspora Remittance System
The Central Bank of Nigeria (CBN) has unveiled a landmark naira settlement policy that will transform how diaspora remittances are…
AfDB Approves $11.3M for Mini-Grids to Boost Electricity Access in Nigeria and 13 African Countries
The African Development Bank (AfDB) has approved $11.3 million in renewable energy funding to expand electricity access in Nigeria and…
Asia-Pacific Markets Trade Mixed Amid U.S.-Iran Tensions and Strait of Hormuz Deadline
Asia-Pacific markets traded mixed on Tuesday as investors navigated growing geopolitical uncertainty surrounding the U.S.-Iran conflict. The trading session reflected…
Best Performing Nigerian Stocks for Easter Week 2026: MTN and GTCO Lead Gains
The Nigerian equities market posted modest gains during the Easter week ended April 2, 2026, with the All-Share Index rising…
NGX Weekly Turnover Falls to 2.856 Billion Shares Amid Shortened Trading Week
Activity on the floor of the Nigerian Exchange Limited (NGX) slowed sharply last week as trading was limited to four…
Africa Prudential Strengthens Performance and Accelerates Digital Growth in 2025
Africa Prudential Plc has reaffirmed its financial resilience and growth momentum, sustaining strong returns while deepening its digital footprint, despite…
Ghana Stock Market Boom Sparks Crackdown on Unlicensed Online Investment Advisors
Ghana’s thriving stock market is drawing increasing attention, but it’s also triggering regulatory warnings. The Securities and Exchange Commission (SEC)…
Rising Oil Prices Weaken African Currencies, Deepen Inflation Risks Across the Continent
African economies are facing a sharp financial strain as global oil prices surge by over 50 percent, pushing crude above…
US-Iran War Sparks Economic Strain on Nigerian Businesses and Consumers
The Nigerian business economy is under renewed strain as the ongoing war between the United States and Iran, which erupted…
UN Warns Trump Against Iran Strikes as Deadline Nears: Tensions Escalate in Middle East
The United Nations has issued a stark warning to United States President Donald Trump, cautioning that his threats to attack…
Treasury Yields Steady After Strong U.S. Jobs Report as Middle East Tensions Cloud Outlook
U.S. Treasury yields held steady on Monday as investors weighed a surprisingly strong March jobs report against rising geopolitical tensions…
Nigeria’s Foreign Reserves Drop by $850 Million Amid Election Spending and FX Pressures
Nigeria’s foreign reserves have declined by about $850 million within three weeks, raising fresh concerns among forex traders and market…
Nigeria’s $850 Million Foreign Cloud Dependence Exposes Fintech Sector to Global Risks
Nigeria’s fast-growing digital economy is facing new scrutiny as companies spend an estimated $850 million annually on foreign cloud services.…
Asia-Pacific Markets Plunge as Oil Surges After Trump’s Iran War Speech
Asia-Pacific markets experienced sharp losses on Thursday, reversing earlier gains, as oil prices surged following a high-stakes address from U.S.…
Ghana Reference Rate Drops to 10.06% as Lending Costs Start to Ease
Ghana’s financial landscape is seeing a welcome shift as the Ghana Reference Rate (GRR) falls to 10.06% in April 2026,…
NCC Urges Patience as Telecom Operators Held Accountable for Service Quality
The Nigerian Communications Commission (NCC) has called on Nigeria’s 184 million active telecom subscribers to remain patient as the country’s…
Nigeria’s Economic Growth Slows in March 2026 Amid Rising Costs – CBN PMI Report
Nigeria’s economy maintained its growth streak in March 2026, with the Central Bank of Nigeria (CBN) reporting a composite Purchasing…
NGX Group Hosts African Exchange Leaders with Dangote to Boost Cross-Border Listings
The Nigerian Exchange Group (NGX Group) convened a high-level gathering of chief executives and senior representatives from Africa’s leading capital…
Google and Slum2School Launch “Stories from Our Home” to Preserve Nigerian Folktales
Google has teamed up with Slum2School Africa and top Nigerian creators to bring the magic of local stories to children…
Nigeria Eyes Global Markets to Boost Trade Amid Structural Challenges
The federal government is accelerating its push toward an export-driven economic model, with Finance and Coordinating Minister Wale Edun emphasizing…
Banking Stocks Propel Nigerian Market to N599 Billion Gain as Q2 2026 Kicks Off
The Nigerian stock market opened the second quarter of 2026 on a high note, recording a significant N599 billion gain…
Nigerian States Return to Borrowing Despite FAAC Windfall: Debt Hits N4 Trillion
Nigerian states are returning to heavy borrowing even as allocations from the Federation Account Allocation Committee (FAAC) have soared by…
Nigeria Launches 950,000-Barrel Export of New Cawthorne Crude, Boosting Energy Security
The Nigerian National Petroleum Company Limited (NNPC) has successfully exported 950,000 barrels of the newly developed Cawthorne blend crude, marking…
Tinubu’s Naira-for-Crude Policy Ensures Fuel Supply Stability Amid Global Energy Crisis
President Bola Tinubu’s Naira-for-Crude initiative has helped Nigeria maintain a stable supply of petroleum products, even as countries worldwide face…
Nigeria’s Oil and Gas Reserves Reach 37 Billion Barrels and 215 TCF in 2026, NUPRC Confirms
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has officially confirmed the country’s total petroleum reserves at 37.01 billion barrels of…
CBN Bank Recapitalization Set to Boost SMEs and Strengthen Nigeria’s Financial Sector
The Central Bank of Nigeria (CBN) has confirmed that 33 banks successfully met the revised minimum capital requirements under its…
Hot Money Inflows Drive Nigeria’s $23B Capital Surge, But Analysts Warn of Volatility
Nigeria’s capital importation surged to $6.44 billion in the fourth quarter of 2025, pushing total inflows for the year to…
Oil Prices Surge Over 5% as Trump Warns US Will Hit Iran “Extremely Hard”
Oil prices jumped sharply on Thursday, climbing more than 5% after U.S. President Donald Trump signalled that the United States…