Five vessels to deliver 154m litres of imported petrol
Nigeria’s fuel supply is set for another major boost as five vessels carrying approximately 154.2 million litres of imported Premium…
Month: July 2026
Africa’s Oil Investment Shifts as Nigeria, Egypt, Angola, Algeria and Libya Still Dominate — IEA Report
Africa’s upstream oil and gas sector remains heavily dependent on five major producers—Nigeria, Algeria, Angola, Egypt, and Libya—even as investment…
India’s Economic Growth Faces Slowdown as Rising Oil Prices Shake GDP Outlook
India’s economic growth is expected to lose momentum in the current fiscal year as soaring global oil prices and sluggish…
Oil price falls to $90/barrel as US, Iran pause attacks
Oil prices recorded a sharp decline on Monday after the United States and Iran reportedly agreed to suspend military attacks,…
Nigeria Secures $4.5 Billion in Fresh Energy Investments
Nigeria has attracted more than $4.5 billion in fresh energy investment commitments, marking a major boost for the country’s oil…
Cash outside banks hits seven-month low, drops by N485.80 billion in 2026
Nigeria’s banking sector recorded a significant milestone in June 2026 as cash held outside banks dropped to N4.92 trillion, the…
Investors gain N74.1tr in one year as market value surges by 87%
Nigeria’s stock market has delivered one of its strongest performances in recent history, with investors gaining an impressive ₦74.1 trillion…
Tinubu sounds alarm as Africa’s food import bill hits $122.9bn
President Bola Tinubu has sounded the alarm over Africa’s growing dependence on imported food, urging governments across the continent to…
Businesses Fault U.S. Tariff, Seek Urgent FG Action
The Organised Private Sector (OPS) has expressed growing concern over the United States’ decision to impose a 12.5 per cent…
Nigerian Stock Market Slips Again as Profit-Taking Extends Losing Streak
The Nigerian equities market extended its losing streak on Monday as investors continued to lock in profits from last week’s…
IMF Sounds Alarm on AI Risks, Calls for Stronger Financial Oversight
Artificial intelligence is rapidly transforming the global financial system, but the International Monetary Fund (IMF) says regulators must act faster…
CBN directive drives investment in data centres
Nigeria’s digital economy is set for a major boost following the Central Bank of Nigeria’s (CBN) directive requiring all payment…
Anthropic CEO Clarifies AI Stance, Warns Bigger Threat Lies in China’s AI Ambitions
As the global debate over artificial intelligence continues to intensify, Anthropic CEO Dario Amodei has moved to clear the air…
Stock market opens week with N77bn decline
The Nigerian stock market began the new trading week on a weaker footing as investors recorded a combined loss of…
China’s Nigeria Investment Falls Despite $20bn Pledge
Despite a high-profile pledge of more than $20 billion in investment commitments, capital inflows from China into Nigeria have dropped…
Nigeria’s FX Market Hits Record $4.4 Billion Turnover
Nigeria’s foreign exchange market has reached a historic milestone, recording its highest weekly turnover of 2026 as trading activity surged…
Nigeria’s manufacturers say they are sinking, with no relief in sight
Nigeria’s manufacturing sector is facing one of its toughest periods in recent years as soaring production costs, expensive energy, and…
Top 10 Brokers Control Over 70% of NGX Trading as Investor Confidence Boosts Market Activity
Nigeria’s capital market continues to demonstrate remarkable strength as the top 10 stockbroking firms on the Nigerian Exchange (NGX) executed…
NGX Group delivers record First-Half 2026 performance
Nigerian Exchange Group (NGX Group) has delivered its strongest first-half financial performance on record, reporting remarkable growth across key financial…
Dow futures rally 500 points as oil prices fall after U.S. and Iran pause attacks
Wall Street kicked off the week on a strong note as U.S. stock futures climbed sharply after a temporary pause…
Nigeria Reaffirms Commitment to IMF Reforms as Government Targets Stronger Economic Growth
The Federal Government has reaffirmed its commitment to working closely with the International Monetary Fund (IMF) as it continues implementing…
Microfinance Banks Seek Federal Govt’s Intervention, Regulatory Support
Microfinance banks in Nigeria have renewed their call for greater support from the federal government and monetary authorities, saying increased…
Nigeria LNG Train-7 Boosts Gas Export Prosperity Amid Global Demand
As global demand for liquefied natural gas (LNG) continues to surge, Nigeria is positioning itself to take advantage of the…
Brent Crude Tumbles 5% as US-Iran Truce Sparks Hope for Global Oil Supply Recovery
Global oil markets opened the week on a positive note for consumers as Brent crude fell by more than 5%,…
China’s Crude Oil Imports Surge
China’s appetite for crude oil appears to be making a strong comeback, with fresh data indicating that the world’s largest…
Nvidia locks down memory supply from SK Hynix as part of $500 billion AI deal
Nvidia has taken another bold step in strengthening its dominance in artificial intelligence by securing a long-term partnership with South…
Nigeria FX Market Turnover Surges 83% to $4.38bn Amid CBN Liquidity Reforms
Nigeria’s official foreign exchange market witnessed a remarkable surge in trading activity as total turnover climbed by 83.38 percent to…
Making sense of the panic over Chinese AI
The release of Kimi, the latest artificial intelligence model developed by Chinese startup Moonshot AI, has once again ignited a…
Top 10 African Countries with the Highest Interest Rates in July 2026
African economies are navigating one of the toughest monetary policy environments in recent years, with central banks maintaining high interest…
Stock market turnover surged by 54% to N306bn in five days
The Nigerian stock market delivered another impressive performance last week as trading activity on the Nigerian Exchange Limited (NGX) jumped…