Nigerian Naira Plunges to Record Low of N925/$1 on Parallel Market Amid Supply…
The Nigerian Naira has spiraled to an unprecedented low of N925 against the US Dollar on the parallel market,…
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Canadian Mining Company Silvercorp Metals Invests in Tanzanian Gold Project
Canadian mining firm Silvercorp Metals has entered into a placement agreement with OreCorp, a gold developer, to…
Kenya Finalizing Selection of Lead Arrangers for New Eurobond
The Kenyan Treasury is in the final stages of selecting lead arrangers for the country's upcoming Eurobond…
Lack of Access to Bank Services Hampers Non-Oil Export Growth in Nigeria
The Chief Executive Officer of the Nigerian Export Promotion Council (NEPC), Ezra Yakusak, has highlighted the…
Ghana’s Inflation Reaches Four-Month High Amid Rising Food Costs
Ghana's inflation rate surged to 43.1% in July, marking the highest level in four months. The increase was…
Rising Business Divestment and Closure Threatens Nigeria’s Economy
The Nigeria Employers' Consultative Association (NECA) has expressed concern about the escalating instances of…
Nigerian Electricity Supply to Niger Faces Payment and Political Challenges
According to the Nigerian Electricity Regulatory Commission's (NERC) first-quarter report, Niger currently owes…
Abandoned Projects in Nigeria’s Niger Delta Region Highlight Challenges
A report from the Niger Delta Development Commission (NDDC) has revealed that a total of 1,587 projects worth…
US Expresses Concern over China’s Influence on Nigeria Through Loans
The United States has expressed concerns about China's potential to exert influence over the Nigerian government…
Strong Demand for Nigerian Treasury Bills Despite Rising Inflation
The latest treasury bill auction in Nigeria on August 9, 2023, saw investors submitting bids worth N808 billion…
Nigeria LNG Extends Force Majeure Due to Supply Disruption
Nigeria LNG has confirmed the continuation of the force majeure that was declared in October, attributing it to…
Association of Bureaux De Change Operators of Nigeria Calls for Ban on Binance…
The Association of Bureaux De Change Operators of Nigeria (ABCON) has urged the Nigerian government to ban the…
Nigerian Safety Investigation Bureau and Lagos State Emergency Management Agency…
The Nigerian Safety Investigation Bureau (NSIB) and the Lagos State Emergency Management Agency (LASEMA) have…
Nigerian Farmers Yet to Receive Promised Fertilizers from Government
The All Farmers Association of Nigeria has revealed that farmers have not yet received the fertilizers promised by…
Telecommunication Firms Consider Proposed Repayment Plan to Settle N120bn USSD…
Telecommunication companies are contemplating a repayment proposal from Deposit Money Banks (DMBs) to resolve the…
NDIC commences payment of depositors in 183 banks closed by CBN
The Nigeria Deposit Insurance Corporation (NDIC) has assured depositors of closed microfinance banks (MfBs) and…
OPEC-13 Crude Oil Production Hits Near Two-Year Low
According to a survey by S&P Global Commodity Insights, OPEC-13's crude oil production reached a near two-year…
WTO Director-General Ngozi Okonjo-Iweala Assures Support for Nigeria
World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala has pledged her support for Nigeria during its…
Naira Hits Record Low of N900/$1 on Parallel Market
The Nigerian naira has reached a record low of N900 against the US dollar on the parallel market, driven by a…
Trans-Saharan Trade at Risk Due to Border Closure
The closure of the border between Nigeria and Niger Republic has put approximately $1.3 billion worth of trade at…
Rising Costs Impact Nigeria’s Housing Market
Nigeria's housing market has experienced a sharp increase of about 40% in the cost of leases and sales in the…
Nigeria Suffers $7 Billion Economic Damage from 2022 Floods
The Nigerian government has reported that the direct economic damage caused by floods in 2022 amounts to $7…
Nigeria Loses N20 Trillion Annually Due to Tax Gaps
Nigeria is reportedly losing an estimated N20 trillion annually due to tax gaps, as revealed by Taiwo Oyedele,…
Nigeria’s Manufacturing Sector Faces Decline in Production Value
The Manufacturers Association of Nigeria (MAN) has reported a decline in the value of manufacturing production due…
Nigerian Banks Deposit N822.34 Billion with Central Bank Amid Excess Liquidity
Nigerian Deposit Money Banks (DMBs) deposited N822.34 billion with the Central Bank of Nigeria (CBN) in July 2023,…
Triodos Funds Support Bridge Taxi Finance to Empower South African Entrepreneurs
Triodos Microfinance Fund and Triodos Fair Share Fund have extended a USD 10 million loan to Bridge Taxi Finance…
Remedial Health Raises $12 Million to Digitize Pharmacy Operations in Nigeria
Nigerian startup Remedial Health has secured $12 million in a Series A equity-debt funding round, co-led by…
Commercial Cold Holdings Expands with Acquisition of Sequence Logistics
Commercial Cold Holdings (CCH), a prominent cold chain logistics platform under the control of African…
Sanlam Private Equity Acquires Majority Stake in Danny’s Auto Body Parts
Sanlam Private Equity (SPE), the private equity branch of Sanlam Investments, has successfully acquired a majority…
Dangote Cement and BUA Cement’s Fuel and Power Costs Surge Amid Rising…
During the first half of 2023, Dangote Cement Plc and BUA Cement Plc collectively spent a substantial amount of…