Nigeria’s Consumer Credit Slumps by ₦939bn as High Rates Squeeze Households
Nigeria’s consumer credit market has suffered a major ₦939 billion decline, highlighting growing pressure on household spending and raising fresh…
Month: August 2026
Oil Prices Surge as Hopes for Strait of Hormuz Deal Fade
Oil prices extended their sharp rally on Tuesday as hopes of a quick resolution to the crisis around the Strait…
Recapitalisation Row: FG Orders NAICOM to Suspend Disputed Insurance Fees
The Federal Government has stepped into a growing dispute between the National Insurance Commission (NAICOM) and two state-owned insurance companies…
Dangote Refinery Challenges NUPRC Over 15.5m Barrels of Crude Oil
A fresh dispute has emerged between the Dangote Petroleum Refinery and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) over crude…
Nairobi Satellite Town Land Outperforms Stocks and Bonds in 18-Year Investment Race
Land in Nairobi’s satellite towns has emerged as one of Kenya’s strongest long-term investment performers, turning a KSh 1 million…
Tanzania Opens Government Bond Market to Global Investors
Tanzania has opened its domestic government securities market to investors around the world, marking a major shift in its approach…
NERC Dissolves Kaduna DisCo Board Over ₦456.5bn Debt Crisis
The Nigerian Electricity Regulatory Commission (NERC) has dissolved the board of Kaduna Electricity Distribution Plc (KAEDC) following a deepening financial…
NGX Sets New Equity Pricing Rules to Curb Market Distortions
The Nigerian Exchange Limited (NGX) is set to introduce a new equity pricing framework from August 17, 2026, in a…
SEC Urges FCTA to Tap N217trn Capital Market for Abuja Infrastructure
The Securities and Exchange Commission (SEC) has called on the Federal Capital Territory Administration (FCTA) to take advantage of Nigeria’s…
S&P 500 Futures Edge Higher as Markets Watch Hormuz Deal and Inflation Data
U.S. stock futures started Monday slightly higher as investors balanced fresh hopes for a deal involving the Strait of Hormuz…
Fuel Subsidy Could Have Sent Naira to ₦3,500/$, NRS Chairman Says
Nigeria’s fuel subsidy could have ballooned to about ₦53 trillion and pushed the naira exchange rate to around ₦3,500 per…
Nigeria Moves to Tackle Crude Shortages as Refineries Face Supply Pressure
Nigeria is taking fresh steps to address crude oil supply shortages to local refineries, as the Nigerian Midstream and Downstream…
Iran Blocks US Talks as Strait of Hormuz Uncertainty Threatens Oil Prices Again
Oil prices could be heading for another sharp rise after Iran ruled out resuming direct negotiations with the United States,…
Nigeria Sets Sights on Africa’s $1tn AI Economy as GITEX NIGERIA Returns
Nigeria is making a stronger push to capture a larger share of Africa’s fast-growing artificial intelligence economy, with the government…
AI Safety Tests Are Becoming a New Cybersecurity Risk
The race to build more powerful artificial intelligence is creating an unexpected problem: the very tests designed to make AI…
Hormuz Tensions Escalate as New Tanker Strike Report Sends Oil Markets on Edge
Tensions around the Strait of Hormuz have taken another worrying turn after reports emerged that a tanker was struck and…
FG Launches Bridge OA to Drive Nationwide Fibre Network Rollout
The Federal Government has taken a major step toward expanding internet access across Nigeria with the incorporation of Bridge Open…
Nigeria’s Oil Import FX Demand Soars 115% Despite Rising Local Refining
Nigeria’s foreign exchange demand for oil-sector imports jumped by 114.91 per cent to $4.86bn in 2025, underscoring the country’s continued…
Tanzania Courts Dangote for Fresh Fertiliser, Energy Investments
Tanzania is stepping up efforts to attract fresh investments from the Dangote Group, with the East African nation targeting opportunities…
Global Stocks Rally as Weak US Jobs Data Eases Fed Rate Hike Fears
Global stocks started the week on a stronger footing as fresh US jobs data eased fears that the Federal Reserve…
Recapitalisation: Anxiety grows as NAICOM decides fate of eight insurers
Anxiety is building across Nigeria’s insurance sector as eight insurers remain under regulatory review, days after the National Insurance Commission…
Tinubu Backs NGX Push to Expand Capital Market, Attract New Listings
President Bola Tinubu has thrown his weight behind fresh efforts to expand Nigeria’s capital market, as the Nigerian Exchange Group…
CBN Cancels N700bn T-Bills Auction as Banking System Faces Liquidity Squeeze
The Central Bank of Nigeria (CBN) has cancelled its planned N700bn Treasury Bills auction, a move that has drawn attention…
Nigeria Spends N3.14trn Servicing Domestic Debt in Q1 2026 – DMO
Nigeria’s domestic debt bill continued to climb in the first quarter of 2026, with the Federal Government spending N3.14 trillion…
Nigeria’s Tax Revenue Soars to N27.1tn as Collections Jump 113%
Nigeria’s tax revenue has more than doubled in less than three years, climbing from N12.3tn in 2023 to N27.1tn by…
Financial, Oil Stocks Drive NGX Trading as Shares Worth N139bn Change Hands
Trading activity on the Nigerian Exchange (NGX) picked up in volume last week as investors exchanged 5.35 billion shares valued…
Grindr’s AI Strategy Pays Off as Premium Edge Tier Surprises CEO
Grindr’s aggressive investment in artificial intelligence is beginning to show results, with the LGBTQ-focused dating platform reporting stronger revenue, higher…
African Startup Funding Crashes 80% as Investors Turn to Debt
African startup funding suffered a major setback in July 2026, falling to just $102.2 million as investors became increasingly cautious…
Fuel Subsidy Cost Nigeria N1.16tn in 2021 as Senate Panel Threatens Auditor-General
Nigeria’s fuel subsidy bill hit a staggering N1.16 trillion in 2021, as the Senate’s ongoing investigation into the oil and…
India Turns to Nigeria for 4 Million Barrels as US-Iran Crisis Disrupts Oil Supply
India is turning increasingly to Nigeria for crude oil as growing tensions linked to the US-Iran crisis continue to disrupt…