Equities market succumbing to rising risk, loses nearly N5tr in one week
Nigeria’s equities market suffered one of its steepest weekly declines in recent years, with investors losing nearly N5 trillion in…
Month: June 2026
Foreign Investment in Nigeria’s Trade Sector Jumps 91% to $65.8m Amid Rising Investor Confidence
Nigeria’s trade sector recorded a significant boost in foreign capital inflows in the first quarter of 2026, attracting $65.79 million…
CBN Mops Up N3.04 Trillion in Massive OMO Auction as Investor Demand Hits Record High
The Central Bank of Nigeria withdrew N3.04 trillion from the banking system in a single OMO auction after investors subscribed…
Naira Undervalued by 13% Despite FX Reforms, Says Rewane as Economic Fundamentals Improve
Nigeria’s currency may be performing better than many expected, but leading economist Bismarck Rewane believes the naira is still trading…
Nigeria Stock Market Decline Deepens as Analysts Explain N5.14 Trillion Drop
The Nigerian stock market has entered a sharp correction phase, erasing more than N5.14 trillion in market value within just…
Africa’s AI Future at Risk as Experts Warn of Ethical and Skills Gaps in Adoption
Experts and industry stakeholders have raised fresh concerns over Africa’s readiness for Artificial Intelligence (AI), warning that ethical gaps, weak…
Oil Prices Drop as Middle East Tensions Ease on Ceasefire Hopes and Supply Shifts
Global oil prices slipped sharply on Thursday as easing tensions in the Middle East sparked renewed optimism among investors. The…
NGX Market Crash: Investors Lose N5.15 Trillion in Just Four Trading Days Amid Profit-Taking Spree
The Nigerian stock market has suffered a sharp setback as investors on the Nigerian Exchange Limited (NGX) lost a staggering…
Nigeria Considers Debt Refinancing as Oil Prices Surge Amid US Tariff Threats
Nigeria is weighing a major financial reset as it considers refinancing parts of its costly debt portfolio and raising fresh…
UK Calls Nigeria Stability a Priority Amid Rising Economic and Electoral Interests
The British Government has emphasized that Nigeria’s stability remains a top priority, citing its deep economic, financial, and security investments…
Anthropic Moves Toward IPO as Daniela Amodei Defends AI Spending Surge Amid Investor Frenzy
Anthropic is edging closer to a public listing as investor excitement around the fast-growing AI company reaches new highs. The…
NGX Market Slips Further as Bearish Sentiment Deepens, Investors Lose N580 Billion
The Nigerian Exchange (NGX) continued its downward trend as bearish sentiment strengthened on Thursday, with more stocks closing in the…
Dangote Refinery Fuel Price Exceeds Import Landing Cost as Market Data Sparks Debate in Nigeria
Recent industry data has sparked fresh discussions in Nigeria’s downstream oil sector, as figures show that the gantry prices from…
Asian Markets Tumble as South Korea Stocks Lead Sell-Off Amid Global AI Tech Rout
South Korean stocks suffered their steepest decline in months on Friday, leading losses across Asia as investors reacted to a…
Naira Strengthens Below N1,360/$ for First Time in Four Weeks as Forex Reforms Boost Market Confidence
Nigeria’s currency recorded a significant milestone on Thursday as the naira strengthened below the N1,360/$ mark for the first time…
SpaceX IPO Set to Break Records as Company Targets $75 Billion Raise at $135 Per Share
SpaceX is preparing to make history after setting the price of its initial public offering (IPO) at $135 per share,…
Foreign Capital in Telecoms Falls to Four-Year Low Despite Tariff Hike
Nigeria’s telecommunications sector has recorded its weakest foreign investment inflow in four years, with capital importation dropping sharply to $7.24…
Dangote Refinery Targets Global Jet Fuel Dominance with 700,000 BPD Expansion Plan
Dangote Refinery is setting its sights on becoming a dominant force in the global jet fuel market, with plans to…
Bearish Pressure Deepens as Nigerian Stock Market Loses N2.28 Trillion in Midweek Sell-Off
The Nigerian equities market extended its losing streak on Wednesday, closing in the red for the third consecutive trading session…
Asia-Pacific Markets Slide as Middle East Tensions Surge and Oil Prices Climb
Asia-Pacific stock markets fell on Thursday as renewed tensions in the Middle East between Iran, the United States, and Israel…
Nigerian Banks Earn N209bn from Account Maintenance Fees in Q1 2026 Amid Rising Transaction Growth
Nigerian commercial banks recorded a significant rise in earnings from account maintenance charges, pulling in a combined N209.18bn in the…
Telecom Sector Attracts Just $7.24m Foreign Capital in Q1 2026 Despite Tariff Hike
Foreign investment into Nigeria’s telecommunications sector has dropped sharply to just $7.24 million in the first quarter of 2026, marking…
Dangote Refinery and the refining of sovereignty
In the heart of Lekki, Lagos, the Dangote Refinery is doing more than processing crude oil—it is quietly reshaping what…
AI Data Centres Set to Consume More Power Than Nigeria, Pakistan and Bangladesh Combined by 2030 — UN Warns
Global electricity demand from AI-driven data centres is set to surge at an unprecedented rate, with a new United Nations-backed…
SoftBank Share Price Plunges 11% Amid Global Tech Sell-Off Over AI Valuation Fears
SoftBank Group shares tumbled more than 11% on Thursday, extending a wider sell-off across global technology markets. The decline came…
World Bank Expands West Africa Power Grid, Boosting Electricity Access for Millions
The World Bank has reported major progress in its regional electricity initiative aimed at improving power supply across West Africa.…
Meren Energy Nigeria Investment Boost as NUPRC Confirms 2026 Licensing Round Timeline
Meren Energy has announced plans to deepen its investment footprint in Nigeria’s oil and gas sector, signaling renewed confidence in…
Nigerian Stock Market Extends Losses, Investors Lose N2.28 Trillion in 3-Day Selloff
The Nigerian equities market extended its losing streak on Wednesday, marking a third straight day of declines as investors reacted…
Tinubu Approves 2026 Oil Block Licensing Round as Nigeria Targets Fresh Upstream Investment Surge
Nigeria is set for a new wave of oil sector activity as President Bola Tinubu has approved the 2026 oil…
Africa Can Unlock $469bn Annually Without Raising Taxes – AfDB Pushes Efficiency Reform
Africa has the potential to unlock more than $469bn in additional annual revenue without increasing tax rates, according to the…