NGX Extends Losses as Energy, Insurance Stocks Trigger N555.68bn Market Cap Drop
The Nigerian Exchange Limited (NGX) extended its losing streak on Wednesday as heavy profit-taking in energy and insurance stocks pushed…
Author: ayotilewa
Afreximbank Emerges as Africa’s Biggest Oil and Gas Financier, Says Wale Tinubu
The African Export-Import Bank (Afreximbank) has emerged as the largest financier of oil and gas projects in Africa, with more…
Nigeria Mobilised N15.8trn from Petrol Subsidy Removal in Two Years — Oyedele
Nigeria mobilised N15.8 trillion in resources from petrol subsidy savings between June 2023 and December 2025, Minister of Finance and…
Strait of Hormuz Shipping Slows as Vessel Attack Raises Security Fears
Shipping through the Strait of Hormuz slowed further on Wednesday as vessel operators became increasingly cautious over rising security threats…
36 States’ Budgets Surge 47% to N40tn as Capital Spending Share Drops
Nigeria’s 36 states and the Federal Capital Territory (FCT) have significantly expanded their budgets for 2026, with combined spending rising…
FAAC Revenue Jumps 17.8% to ₦4.359tn in July as FG, States, LGs Share ₦3.007tn
The Federation Account recorded a major boost in revenue in July 2026, with gross revenue rising to ₦4.359 trillion, up…
High Oil Prices Threaten Global Economic Stability as Moody’s Warns
Persistently high oil prices could pose a growing threat to global economic stability as expensive energy and possible fuel rationing…
OpenAI Launches ChatGPT for Teens With Stronger Safety Protections
OpenAI has launched ChatGPT for Teens, a dedicated experience for users under 18 that comes with what the company describes…
Fairphone 6+ Launches in the U.S. With a Focus on Repairability and Long-Term Use
Fairphone has officially expanded its repair-focused smartphone lineup to the U.S., bringing the new Fairphone 6+ to American consumers at…
Farmers fear crisis as food inflation hits six-month high
Nigeria’s food inflation has climbed to a six-month high of 20.31 per cent, raising fresh concerns about the affordability of…
Investors Submit N1.73tn as DMO Allots N1.56tn in FGN Bond Auction
Investors showed strong appetite for Nigerian government securities as they submitted bids worth N1.73 trillion at the Debt Management Office’s…
Naira Strengthens as Nigeria’s Foreign Reserves Hit $52.5bn, CBN Says
Nigeria’s foreign exchange market is showing fresh signs of stability as the naira continues to strengthen, with the gap between…
Dangote Refinery Secures $1bn Backing Ahead of Planned IPO
The Dangote Petroleum Refinery has secured a $1 billion underwriting programme ahead of its planned initial public offering (IPO), in…
Nigeria’s Gas Market Set for Major Shift as Exchange Trading Promises Clearer Prices
Nigeria’s gas market could be heading for a major transformation as the country moves towards exchange-based trading, a model expected…
PwC Warns Nigeria’s 30% Capital Gains Tax Creates Offshore Tax Loopholes
Nigeria’s new 30 per cent capital gains tax (CGT) regime could create uncertainty for companies involved in offshore transactions, PwC…
FG, States and LGs Share Record N3.007trn as July Revenue Jumps 18%
Nigeria’s federal, state and local governments shared a record N3.007 trillion in FAAC revenue allocation for July, following a sharp…
US Bond Yields Hit 20-Year High, Putting Naira and Nigerian Stocks Under Pressure
US bond yields have climbed to their highest level in nearly two decades, raising fresh concerns for emerging markets such…
NGX Loses N544.5bn as First HoldCo, Fidelity Bank Drive Six-Day Market Slide
Nigeria’s equities market extended its losing streak on Tuesday, August 18, 2026, as investors continued to lock in profits from…
NAFEM Turnover Hits $1.41 Billion as FX Market Activity Rebounds
NAFEM turnover surged to $1.41 billion on August 17, 2026, marking its highest level in five weeks as trading activity…
DMO Allots N1.56 Trillion in FGN Bonds as Investor Demand Reaches N1.73 Trillion
Nigeria’s Debt Management Office (DMO) has allotted a combined N1.56 trillion in Federal Government of Nigeria (FGN) bonds after investors…
Nigeria’s Net FX Flow Falls 29% to $4.94 Billion in March as Outflows Surge
Nigeria’s net foreign exchange (FX) flow fell by 29% month-on-month to $4.94 billion in March 2026, down from $6.98 billion…
IFC Commits $25m to Boost Africa’s E-Commerce Growth
The International Finance Corporation (IFC), the private-sector arm of the World Bank Group, is committing $25 million to Jumia Technologies…
Oil Price Rally Lifts Nigeria’s Earnings in First Half of 2026 – Afreximbank
Nigeria emerged as one of the African countries that benefited significantly from higher global oil prices in the first half…
AI Platform Opens New Opportunities for Young Nigerians
Artificial intelligence is taking on a new role in Nigeria’s youth development space as YouthDesk.ai, a new AI-powered platform, seeks…
FG Targets $750m Investment as Nigeria Unveils New National Cloud Policy
Nigeria is positioning itself to become a major cloud computing and data-hosting hub in Africa as the Federal Government unveils…
S&P 500 Futures Slide as Rising Yields and Oil Prices Rattle Investors
U.S. stock futures came under pressure on Tuesday as rising Treasury yields and higher oil prices renewed concerns about inflation…
Nigeria Slips to Third as South Korea Reclaims Global Stock Market Lead
Nigeria has dropped to third place in the global ranking of best-performing stock markets after holding the top position for…
NGX sheds N106bn as bearish sentiment persists
The Nigerian Exchange Limited (NGX) started the week on a cautious note as continued selling pressure pushed the equities market…
SEC clears Blockchain, others for crypto regulation
Nigeria’s Securities and Exchange Commission (SEC) has admitted three virtual asset service providers, including Blockchain, into its Accelerated Regulatory Incubation…
Crude Oil Rises Above $91 as Middle East Tensions Weigh on Global Markets
Crude oil prices extended their gains on Tuesday, with Brent crude climbing above $91 a barrel as hopes for a…