investment Local Market Pension Fund Investments in Nigerian Equities Surge 27% Amid Stock Market Rally May 8, 2026 Ekemini Uba Nigeria’s pension fund industry recorded a sharp increase in exposure to domestic equities in the first quarter of 2026, as Pension Fund Administrators (PFAs) capitalized on a strong rally in…
Business International Market Dangote Plans London Listing for $13bn Dangote Cement Amid Strong Profit Growth and Global Expansion Push May 8, 2026 Ekemini Uba Africa’s richest man, Aliko Dangote, is preparing to take a major step in global capital markets as he plans to list Dangote Cement Plc on the London Stock Exchange later…
Business International Market European Stocks Slip as Trump Tariff Threats Rattle Markets, UK Elections Add Political Uncertainty May 8, 2026 Ekemini Uba European stock markets slipped on Friday as renewed trade tensions between the United States and the European Union unsettled investors, while political developments in the United Kingdom added to overall…
Business Economy International investment Only Four African Economies Ready for Sustainable Industrialisation – RED Index 2025 Report Reveals May 8, 2026 Ekemini Uba A new 2025 RED Index of Industrial Development in Africa has revealed a sobering reality about the continent’s industrial future. According to the report released by the Business Council for…
Business Economy International investment Political Stability Drives FDI in Africa as MAN Calls for Investment Reforms May 8, 2026 Ekemini Uba Despite a gradual rise in foreign investment flows into Africa, the Manufacturers Association of Nigeria (MAN) has warned that Foreign Direct Investments (FDIs) across the continent are still being slowed…
Business Energy Local Lagos Estates Face Soaring Electricity Costs as Poor Grid Supply Forces Heavy Dependence on Expensive Diesel May 8, 2026 Ekemini Uba Residents of gated housing estates across Lagos are experiencing a sharp rise in electricity costs, with monthly bills more than doubling—and in some cases tripling—due to worsening power supply from…
Business Economy Local FX reforms stabilize Nigeria automotive industry despite rising costs May 8, 2026 Ekemini Uba The Association of Automobile, Boatyards, Transport Equipment and Allied Employers of Nigeria (AABTEAEN) says recent foreign exchange reforms are beginning to bring much-needed stability to Nigeria’s automotive industry, even as…
Business Energy International Iran Cuts Oil Output Amid Storage Crisis as Geopolitical Tensions Shake Global Oil Markets May 8, 2026 Ekemini Uba Iran has begun reducing its oil production as its storage facilities near full capacity, following a sharp slowdown in crude exports caused by ongoing conflict and disrupted shipping routes in…
Business International Technology IMF Warns AI Cyber Attacks Could Disrupt Global Financial System May 8, 2026 Ekemini Uba The International Monetary Fund has raised fresh concerns over the growing threat of artificial intelligence-driven cyber attacks, warning that the global financial system may not be fully prepared to withstand…
Business Finance Local Financial Trust Company Targets Pan-African Expansion, Seeks Increased Capital Market Participation May 8, 2026 Ekemini Uba Financial Trust Company (FTC) is setting its sights on continental expansion as it celebrates its 50th anniversary, signaling a bold transition into a pan-African financial services group. The milestone, according…
International Technology Elon Musk Lawsuit Puts OpenAI Safety Record Under Scrutiny May 8, 2026 Ekemini Uba A high-profile lawsuit by Elon Musk is drawing fresh attention to the safety practices at OpenAI, raising questions about whether the organization has drifted from its original mission. The legal…
Business Local Stock NGX RegCo Recovers N500 Million for Investors in Crackdown on Market Infractions May 8, 2026 Ekemini Uba Nigeria’s capital market received a confidence boost as NGX Regulation Limited (NGX RegCo) announced it has recovered more than N500 million in restitution for investors. The disclosure, published on the…
Business Economy International Nigeria–China Zero-Tariff Policy Spurs Export Opportunities, but Concerns Persist May 8, 2026 Ekemini Uba Nigeria’s export sector is entering a new phase as businesses begin to explore opportunities under the Nigeria China zero-tariff exports arrangement, which officially took effect on May 1, 2026. The…
Local Politics Technology Reps Blame NCC Over Poor Telecom Services Nationwide, Demand Stronger Regulation May 7, 2026 Ekemini Uba Nigeria’s House of Representatives has strongly criticised the Nigerian Communications Commission (NCC) over what lawmakers describe as persistent poor telecom services across the country. The lawmakers accused the regulator of…
Business Economy Local Nigeria Capital Market Inflows to Hit N10.53trn in May – FMDA Forecasts Liquidity Surge May 7, 2026 Ekemini Uba Nigeria’s financial system is set for a significant liquidity boost, with the Financial Markets Dealers Association (FMDA) projecting total inflows to reach N10.53 trillion in May 2026. This marks a…
Business International Technology Elon Musk’s Exit from OpenAI Explained: Inside the 2017 Control Clash That Split the Founders May 7, 2026 Ekemini Uba In 2017, tensions inside OpenAI began to surface as the small nonprofit research lab debated how to transition into a for-profit structure to raise the massive funding needed for artificial…
Business International Technology Elon Musk’s SpaceX Plans $55bn Texas “Terafab” Chip Factory to Power AI and Space Tech May 7, 2026 Ekemini Uba Elon Musk’s SpaceX is making a bold move into the semiconductor industry with plans to build a massive $55 billion chip manufacturing facility in Texas. The project, called “Terafab,” signals…
Business Energy International U.S. Oil Export Surge Under Scrutiny as Gas Prices Jump Across All 50 States May 7, 2026 Ekemini Uba The United States is facing growing scrutiny over its rising oil and fuel exports as gasoline prices climb sharply across all 50 states. The country has increasingly taken on the…
Business Economy Local Market Naira Exchange Rate Strengthens Against US Dollar, Nears N1,350 Mark Amid Market Optimism May 7, 2026 Ekemini Uba The Nigerian naira continued its upward movement against the US dollar in the official foreign exchange market on Wednesday, edging closer to the key N1,350/$ level. The local currency strengthened…
Banking Business Local Tier-One Banks Post N14.9 Trillion Earnings in 2025 as Interest Rate Pressures Shape Profit Outlook May 7, 2026 Ekemini Uba Nigeria’s four major tier-one banks—Access Holdings, Zenith Bank, Guaranty Trust Holding Company (GTCO), and United Bank for Africa (UBA)—recorded a combined gross earnings of N14.93 trillion in 2025, reflecting a…
Business Economy Local $1 Trillion Economy: Tinubu Courts Global Investors in Paris, Cites 11.2% GDP Growth and Reform Gains May 7, 2026 Ekemini Uba President Bola Tinubu has engaged global investors in Paris, France, where he spotlighted Nigeria’s ongoing economic reforms, transparency drive, and fiscal discipline. The meeting was part of efforts to strengthen…
Banking Business Local Nigerian Banks Earn N18.2tn in 2025 Despite Profit Decline Amid Loan Losses and Recapitalisation Impact May 7, 2026 Ekemini Uba Nigeria’s biggest banks posted a mixed financial performance in 2025, as strong revenue growth and expanding balance sheets were weighed down by a sharp decline in profitability linked to regulatory…
Business International Stock Nikkei 225 Tops 62,000 for First Time as Asia Markets Rally Despite Trump’s Iran Threats May 7, 2026 Ekemini Uba Asian markets recorded a strong surge on Thursday, with Japan’s benchmark Nikkei 225 index breaking a major milestone by climbing above 62,000 points for the first time in history. The…
Business Local Stock NGX Market Rally Adds N629bn as Airtel Africa, 46 Stocks Drive Strong Bullish Momentum May 7, 2026 Ekemini Uba The Nigerian Exchange Limited (NGX) closed on a positive note as investor confidence strengthened, pushing the market capitalisation up by N629 billion. The rally was largely driven by strong performances…
Business Local Stock Nigerian Stock Market Rebounds as Investors Drive N629bn Gain Amid Fresh Buying Interest May 7, 2026 Ekemini Uba The Nigerian equities market closed on a positive note as renewed buying interest pushed overall market performance upward, adding a total of N629 billion in value. The rebound reflects growing…
Business Finance investment Local LBIC Reports 43% Profit Surge, Targets Capital Expansion and Digital Mortgage Growth in Lagos May 7, 2026 Ekemini Uba Lagos Building Investment Company (LBIC) Plc has posted a strong financial performance, recording a 43 per cent increase in profit before tax, which rose to N1.655 billion for the year…
Business International Technology Nigeria, Others Poised to Lead Africa’s $65bn Digital Finance Boom by 2030—BCG Report May 7, 2026 Ekemini Uba Africa’s financial technology sector is on track for massive expansion, with revenue expected to reach about $65 billion annually by 2030, according to a new report by Boston Consulting Group…
Business Economy Local Food Prices in Nigeria Rise and Fall in March 2026, NBS Reports Mixed Trends May 7, 2026 Ekemini Uba Fresh data from the National Bureau of Statistics (NBS) shows a mixed pattern in food prices across Nigeria in March 2026, with several key staples recording both increases and decreases…
Business Energy International Oil Prices Drop 11% as US–Iran Peace Deal Nears, Easing Global Supply Fears May 7, 2026 Ekemini Uba Global oil prices experienced a sharp decline on Wednesday as Brent crude dropped about 11 percent, slipping below $100 per barrel. The fall came amid rising optimism that the United…
Business Energy International Dangote Refinery Exports Over 57 Million Barrels of Jet Fuel as Global Demand Surges May 7, 2026 Ekemini Uba Dangote Petroleum Refinery has exported an estimated 57 million barrels of jet fuel between April 2024 and April 2026, marking a significant milestone in its growing presence in the global…
