Nigeria’s Consumer Credit Drops to N3.03 Trillion as Retail Loans Crash 42%
Nigeria’s consumer credit market suffered a major setback in February 2026, with total outstanding consumer loans dropping sharply to N3.03…
Day: July 1, 2026
Nigeria Leads Africa in IMD Economic Performance Ranking Despite Competitiveness Challenges
Nigeria has been ranked as the highest-performing economy in Africa on the economic performance pillar of the International Institute for…
NGX Rebounds as Airtel Africa Drives N652.8bn Market Gain Amid Persistent Selling Pressure
Nigeria’s stock market ended June on a positive note as renewed investor interest in Airtel Africa and other blue-chip stocks…
US Stock Futures Slip as Investors Pause After Dow’s Strongest First Half in Five Years
Wall Street looked set for a cautious start to July as U.S. stock futures slipped on Wednesday, following an impressive…
World Bank Approves $1.25bn Nigeria Loan Amid Growing Debt Concerns and Economic Reform Push
The World Bank has approved a fresh $1.25 billion loan for Nigeria under its Nigeria Actions for Investment and Jobs…
Nigeria’s $1.5bn Abu Dhabi Drawdown to Cut Borrowing Costs, Says Oyedele
Nigeria’s decision to access only $1.5 billion from its $5 billion financing arrangement with First Abu Dhabi Bank (FAB) is…
Cash Outside Banks Hits One-Year High of N5.19 Trillion, Accounts for 91.3% of Nigeria’s Currency in Circulation
Nigeria’s reliance on cash remains remarkably strong, as new data from the Central Bank of Nigeria (CBN) shows that cash…
Dangote Targets 2.1 Million BPD Refining Capacity as Congo Energy Partnership Talks Gather Momentum
Africa’s industrialisation drive received a major boost as the Dangote Group unveiled plans to increase its total refining capacity to…
Elon Musk Reclaims Trillionaire Status as SpaceX and Tesla Shares Soar
Elon Musk has once again crossed the trillion-dollar wealth mark after a strong rally in the shares of SpaceX and…
Naira Ends June at N1,376/$ as Forex Market Weathers Volatility and Maintains Stability
The Nigerian naira closed June 2026 at N1,376 against the United States dollar in the official foreign exchange market, ending…
Dangote Refinery Turns to UAE Crude as Nigeria’s Supply Crisis Deepens
Nigeria’s ongoing crude oil supply challenges have come under fresh scrutiny following Dangote Petroleum Refinery’s decision to import its first-ever…
Trump Administration Lifts Export Restrictions on Anthropic’s Mythos and Fable AI Models
Anthropic is set to restore global access to its highly advanced Mythos and Fable artificial intelligence models after the Trump…
Nigeria Eyes Return to Global Debt Market with First Eurobond Sale Since November
Nigeria is taking significant steps toward re-entering the international debt market as the Debt Management Office (DMO) begins preparations for…
Nigeria Tops African Peers in IMD Economic Performance Ranking Despite Competitiveness Challenges
Nigeria has emerged as the highest-performing African economy in the International Institute for Management Development (IMD) World Competitiveness Ranking 2026,…
World Bank to End China Lending by 2031 as Partnership Enters New Phase
The World Bank has announced plans to phase out lending to China by 2031, signaling a significant change in its…
Nigeria’s Economic Gains Face Tough Test as Inflation, Debt and Election Risks Cloud H2 2026 Outlook
Nigeria entered 2026 on a relatively strong footing, buoyed by a recovering naira, easing inflationary pressures and stronger economic growth…
Nigeria Stock Market Records Historic N13.3 Trillion Loss in June as Investor Selloff Deepens
Nigeria’s stock market experienced its worst month on record in June 2026, with investors losing a staggering N13.29 trillion in…