World Bank Group Targets $23bn Private Capital Push to Power Africa’s Jobs and Infrastructure Growth
The World Bank Group has announced an ambitious plan to mobilise around $23 billion in private capital for Africa, in…
Month: May 2026
Oil Prices Slip to $105 as US–Iran Peace Talks Ease Middle East Tensions
Global oil prices slipped on Wednesday as Brent crude fell to $105 per barrel, reflecting growing optimism over ongoing peace…
SpaceX IPO Filing Reveals $1.75T Ambition and AI Push
SpaceX, the aerospace giant founded by Elon Musk over two decades ago, has officially released its long-awaited IPO filing, setting…
Dangote Refinery Expands Jet Fuel Exports Across Europe as Global Supply Tightens
Nigeria’s Dangote Refinery is rapidly strengthening its footprint in the global aviation fuel market, with fresh data showing a major…
CBN Interventions Drop Below 2% as FX Market Deepens, Says Cardoso
The Central Bank of Nigeria (CBN) has stated that its direct involvement in the foreign exchange market has significantly reduced,…
CBN Retains Interest Rate at 26.5% as External Shocks Drive Inflation Pressure in Nigeria
The Central Bank of Nigeria (CBN) has maintained its benchmark interest rate at 26.5 percent, following its latest Monetary Policy…
Insurance Firms Double Tax Payments to N15.2bn Despite 15% Drop in Profit Before Tax
Nigeria’s insurance sector recorded a significant rise in tax contributions in 2025, with 11 major insurance companies paying a combined…
Dangote Refinery Eyes $2bn Private Investment Drive Ahead of Landmark IPO
Nigeria’s biggest industrial project, the Dangote Refinery, is attracting strong investor interest ahead of its planned initial public offering (IPO),…
Nigeria’s ginger export crashes from N26 billion to zero in three years
Nigeria’s ambition to expand non-oil exports has suffered a major setback after the country’s ginger export earnings plunged from N26.2…
Nigeria builds unicorns, Wall Street takes the wealth
Nigeria has emerged as Africa’s leading technology powerhouse, producing some of the continent’s most valuable startups and attracting billions of…
Dangote Refinery Listing to Open Africa’s Industrial Future to Investors
President of the Dangote Group, Aliko Dangote, has revealed that the planned listing of Dangote Petroleum Refinery & Petrochemicals on…
PenCom Launches PenCare Pilot Scheme to Provide Free Healthcare for Low-Income Retirees
The National Pension Commission (PenCom) has launched the pilot phase of its new healthcare support programme, known as the PenCare…
Africa Set to Receive $6.4 Billion Annual Investment Guarantees as World Bank Arm Moves to Unlock Private Capital
Africa is set for a major boost in development financing as the World Bank’s Multilateral Investment Guarantee Agency (MIGA) plans…
Nigeria Credit Rating Upgrade 2026: FX Reforms and Fiscal Policies Drive S&P Boost
Nigeria’s economic reform drive has earned fresh global recognition after ratings agency S&P Global Ratings upgraded the country’s sovereign credit…
Nigeria’s Oil Exploration Drops 41.7% as Rig Count Falls to 12 – OPEC Report Raises Production Concerns
Nigeria’s oil and gas sector recorded a sharp slowdown in April 2026, as exploration and drilling activities fell by 41.7%,…
How Africa’s misaligned gas commercial model hurts its economies
Across Africa, a strange economic contradiction is unfolding: countries rich in natural gas reserves continue to suffer widespread energy poverty.…
Nigeria’s AI Adoption Lags Behind Global Average as Infrastructure Gaps Deepen Digital Divide
Nigeria is falling behind in the global artificial intelligence race, according to a new Microsoft report that highlights a widening…
Nigeria’s Oil Sector Booms as Local Content Policy Drives 117 Operating Firms and 61% Industry Growth
Nigeria’s oil and gas sector is undergoing a major transformation as local content policies continue to reshape the industry, boosting…
South African Pension Fund Targets Dangote Refinery IPO as African Investors Eye Energy Mega-Project
African institutional investors are showing strong interest in the upcoming Dangote Refinery IPO, as representatives of South Africa’s Government Employees…
Nigeria Oil Industry Sees Major Boom as Local Content Policy Drives 117 Operating Firms
Nigeria’s oil and gas industry is undergoing a major transformation as local content policies continue to reshape the sector and…
SEC T+1 Settlement Cycle Nigeria: SEC Sets June 1, 2026 for Capital Market Transition
The Securities and Exchange Commission (Nigeria) has announced a major shift in the country’s capital market structure, confirming that Nigeria…
Wall Street Slips as Inflation Fears and Oil Shock Rattle US Markets
US stocks retreated in early trading on Tuesday as renewed inflation fears and rising global tensions pushed investors into a…
Pan-African AI Ethics Fellowship Launches to Shape Safer and More Inclusive Artificial Intelligence Governance
A new Pan-African initiative has been launched to strengthen ethical oversight and governance of artificial intelligence as African countries rapidly…
Equities Post Modest Rebound As Selective Gains Add N917bn On NGX
Trading at the Nigerian Exchange (NGX) closed on a mildly positive note as selective buying interest helped the market recover,…
W’Bank flags skills deficit across African economies
A growing mismatch between the skills African workers have and what employers actually need is becoming a major barrier to…
Google Search Goes Fully AI
Google has officially announced what may be the biggest transformation in its history: a complete overhaul of Google Search powered…
FGN Bond Subscriptions Drop 45% as Investors React to Higher Yields in 2026 Auction
Investor confidence in Federal Government of Nigeria (FGN) bonds weakened in May 2026, as total subscriptions dropped sharply by 45.6…
European Stocks Slip as Bond Yield Surge, Inflation Data Weigh on Investor Sentiment
European stock markets opened in negative territory on Wednesday as investors grappled with rising global bond yields, fresh inflation data…
BUA Cement, Banking Stocks Lift NGX as All-Share Index Ends Four-Day Losing Streak
The Nigerian stock market returned to positive territory on Tuesday as gains in BUA Cement and several large-cap banking stocks…
World Bank says global carbon pricing revenue tops $107 billion in 2025
Global carbon pricing revenue climbed above $107 billion in 2025, marking another milestone in the worldwide push to reduce greenhouse…