FG, World Bank Cancel $717.7 Million Power Sector Loan as Tariff Deficits Worsen
The Federal Government and the World Bank have agreed to cancel approximately $717.7 million in undisbursed funding under the Power…
Day: May 26, 2026
VFD Group Eyes Pan-African Expansion After ₦50.67bn Rights Issue Boost
VFD Group has announced plans to deepen its footprint across Africa as it pursues a carefully structured expansion strategy aimed…
Nigeria Receives $187.3m US Aid as Washington Tightens Funding Conditions
Nigeria has received a total of $187.3 million in US foreign assistance in 2026, according to new data published by…
Nigeria Private Sector Credit Declines by N14 Trillion Despite CBN Rate Cut
Nigeria’s private sector has recorded a sharp contraction in lending, with credit falling by over N14 trillion within just two…
Alaoji Power Plant Restored: NDPHC Revives 450MW Facility Amid Nigeria Electricity Recovery Push
Nigeria’s power sector received a major boost as the Niger Delta Power Holding Company (NDPHC) announced the restoration of the…
Digital Switch-Over: NBC Says N605.2 Trillion Advertising Market Set to Be Unlocked in Nigeria
The National Broadcasting Commission (NBC) has projected that Nigeria’s upcoming Digital Switch-Over (DSO) will unlock a massive N605.2 billion advertising…
Microsoft’s new responsible tech lead on how to humanize high-speed AI development
Microsoft’s responsible AI development is facing the ultimate test: how to build cutting-edge technology at speed without losing sight of…
South Korea Kospi Hits Record High as Asian Markets Trade Mixed on Iran Peace Hopes
South Korea’s benchmark Kospi index surged to a fresh record high on Tuesday, leading gains across Asian markets as trading…
NGX ETF Turnover Drops 31% to N815.90m as Investor Activity Weakens Across Major Funds
Trading activity on the Nigerian Exchange (NGX) Exchange Traded Fund (ETF) segment slowed sharply in the week ended May 22,…
Capital Markets Urged to Fund Africa’s Creative Economy — Kwairanga Pushes for New Investment Class
African capital markets have been urged to expand their investment focus beyond traditional sectors such as oil, banking, and manufacturing,…
Oil Prices Rise as US Strikes in Iran Stall Peace Deal Hopes, Global Stocks Turn Mixed
Global oil prices climbed on Tuesday while stock markets showed mixed performance, as renewed U.S. military strikes in southern Iran…
UK Exempts Nigeria from Russian Fuel Sanctions Tightening Amid Global Energy Shift
The United Kingdom has exempted Nigeria from stricter compliance checks under its updated sanctions regime targeting fuel products refined from…
Nigeria’s Refinery Struggles Deepen as Fuel Import Bill Hits ₦46.17 Trillion Amid Calls for Local Production Reform
Nigeria’s dependence on imported fuel continues to spark debate as industry experts warn that local refineries are still struggling with…
CBN Injects N9.71 Trillion Through OMO Bills as Naira Gains N19.67 Against Dollar in April
Nigeria’s foreign exchange market showed signs of renewed stability in April 2026, with the naira appreciating by N19.67 against the…
Nigeria, Turkey Seal Mining Partnership to Boost Investment and Solid Minerals Development
Nigeria has taken another step toward attracting foreign investment into its mining industry after signing a landmark memorandum of understanding…
Dangote faces price war as NNPC backs fuel imports
Nigeria’s downstream petroleum sector is heading for another major showdown as the Nigerian National Petroleum Company Limited (NNPC) and fuel…
FG Cancels $717.7 Million World Bank Power Loan as Nigeria’s Electricity Crisis Deepens
Nigeria’s efforts to revive its struggling electricity sector suffered a major setback after the Federal Government cancelled $717.7 million in…