Pension Fund Investments in Nigerian Equities Surge 27% Amid Stock Market Rally
Nigeria’s pension fund industry recorded a sharp increase in exposure to domestic equities in the first quarter of 2026, as…
Month: May 2026
Dangote Plans London Listing for $13bn Dangote Cement Amid Strong Profit Growth and Global Expansion Push
Africa’s richest man, Aliko Dangote, is preparing to take a major step in global capital markets as he plans to…
European Stocks Slip as Trump Tariff Threats Rattle Markets, UK Elections Add Political Uncertainty
European stock markets slipped on Friday as renewed trade tensions between the United States and the European Union unsettled investors,…
Only Four African Economies Ready for Sustainable Industrialisation – RED Index 2025 Report Reveals
A new 2025 RED Index of Industrial Development in Africa has revealed a sobering reality about the continent’s industrial future.…
Political Stability Drives FDI in Africa as MAN Calls for Investment Reforms
Despite a gradual rise in foreign investment flows into Africa, the Manufacturers Association of Nigeria (MAN) has warned that Foreign…
Lagos Estates Face Soaring Electricity Costs as Poor Grid Supply Forces Heavy Dependence on Expensive Diesel
Residents of gated housing estates across Lagos are experiencing a sharp rise in electricity costs, with monthly bills more than…
FX reforms stabilize Nigeria automotive industry despite rising costs
The Association of Automobile, Boatyards, Transport Equipment and Allied Employers of Nigeria (AABTEAEN) says recent foreign exchange reforms are beginning…
Iran Cuts Oil Output Amid Storage Crisis as Geopolitical Tensions Shake Global Oil Markets
Iran has begun reducing its oil production as its storage facilities near full capacity, following a sharp slowdown in crude…
IMF Warns AI Cyber Attacks Could Disrupt Global Financial System
The International Monetary Fund has raised fresh concerns over the growing threat of artificial intelligence-driven cyber attacks, warning that the…
Financial Trust Company Targets Pan-African Expansion, Seeks Increased Capital Market Participation
Financial Trust Company (FTC) is setting its sights on continental expansion as it celebrates its 50th anniversary, signaling a bold…
Elon Musk Lawsuit Puts OpenAI Safety Record Under Scrutiny
A high-profile lawsuit by Elon Musk is drawing fresh attention to the safety practices at OpenAI, raising questions about whether…
NGX RegCo Recovers N500 Million for Investors in Crackdown on Market Infractions
Nigeria’s capital market received a confidence boost as NGX Regulation Limited (NGX RegCo) announced it has recovered more than N500…
Nigeria–China Zero-Tariff Policy Spurs Export Opportunities, but Concerns Persist
Nigeria’s export sector is entering a new phase as businesses begin to explore opportunities under the Nigeria China zero-tariff exports…
Reps Blame NCC Over Poor Telecom Services Nationwide, Demand Stronger Regulation
Nigeria’s House of Representatives has strongly criticised the Nigerian Communications Commission (NCC) over what lawmakers describe as persistent poor telecom…
Nigeria Capital Market Inflows to Hit N10.53trn in May – FMDA Forecasts Liquidity Surge
Nigeria’s financial system is set for a significant liquidity boost, with the Financial Markets Dealers Association (FMDA) projecting total inflows…
Elon Musk’s Exit from OpenAI Explained: Inside the 2017 Control Clash That Split the Founders
In 2017, tensions inside OpenAI began to surface as the small nonprofit research lab debated how to transition into a…
Elon Musk’s SpaceX Plans $55bn Texas “Terafab” Chip Factory to Power AI and Space Tech
Elon Musk’s SpaceX is making a bold move into the semiconductor industry with plans to build a massive $55 billion…
U.S. Oil Export Surge Under Scrutiny as Gas Prices Jump Across All 50 States
The United States is facing growing scrutiny over its rising oil and fuel exports as gasoline prices climb sharply across…
Naira Exchange Rate Strengthens Against US Dollar, Nears N1,350 Mark Amid Market Optimism
The Nigerian naira continued its upward movement against the US dollar in the official foreign exchange market on Wednesday, edging…
Tier-One Banks Post N14.9 Trillion Earnings in 2025 as Interest Rate Pressures Shape Profit Outlook
Nigeria’s four major tier-one banks—Access Holdings, Zenith Bank, Guaranty Trust Holding Company (GTCO), and United Bank for Africa (UBA)—recorded a…
$1 Trillion Economy: Tinubu Courts Global Investors in Paris, Cites 11.2% GDP Growth and Reform Gains
President Bola Tinubu has engaged global investors in Paris, France, where he spotlighted Nigeria’s ongoing economic reforms, transparency drive, and…
Nigerian Banks Earn N18.2tn in 2025 Despite Profit Decline Amid Loan Losses and Recapitalisation Impact
Nigeria’s biggest banks posted a mixed financial performance in 2025, as strong revenue growth and expanding balance sheets were weighed…
Nikkei 225 Tops 62,000 for First Time as Asia Markets Rally Despite Trump’s Iran Threats
Asian markets recorded a strong surge on Thursday, with Japan’s benchmark Nikkei 225 index breaking a major milestone by climbing…
NGX Market Rally Adds N629bn as Airtel Africa, 46 Stocks Drive Strong Bullish Momentum
The Nigerian Exchange Limited (NGX) closed on a positive note as investor confidence strengthened, pushing the market capitalisation up by…
Nigerian Stock Market Rebounds as Investors Drive N629bn Gain Amid Fresh Buying Interest
The Nigerian equities market closed on a positive note as renewed buying interest pushed overall market performance upward, adding a…
LBIC Reports 43% Profit Surge, Targets Capital Expansion and Digital Mortgage Growth in Lagos
Lagos Building Investment Company (LBIC) Plc has posted a strong financial performance, recording a 43 per cent increase in profit…
Nigeria, Others Poised to Lead Africa’s $65bn Digital Finance Boom by 2030—BCG Report
Africa’s financial technology sector is on track for massive expansion, with revenue expected to reach about $65 billion annually by…
Food Prices in Nigeria Rise and Fall in March 2026, NBS Reports Mixed Trends
Fresh data from the National Bureau of Statistics (NBS) shows a mixed pattern in food prices across Nigeria in March…
Oil Prices Drop 11% as US–Iran Peace Deal Nears, Easing Global Supply Fears
Global oil prices experienced a sharp decline on Wednesday as Brent crude dropped about 11 percent, slipping below $100 per…
Dangote Refinery Exports Over 57 Million Barrels of Jet Fuel as Global Demand Surges
Dangote Petroleum Refinery has exported an estimated 57 million barrels of jet fuel between April 2024 and April 2026, marking…