Dangote Refinery vs NUPENG: Fuel Supply Disruptions Deepen as Labour Dispute Escalates
Nigeria’s oil sector is facing fresh tension as talks between Dangote Refinery and labour unions—NUPENG and PENGASSAN, ended in deadlock…
Category: Business
Foreign Investors Retreat as Nigeria’s Forex Inflows Drop 26.9% in August
Nigeria’s foreign exchange market witnessed a significant slowdown in August, with inflows into the Nigerian Foreign Exchange Market (NFEM) falling…
Nigeria’s $76bn Telecom Investment Still Leaves 27 Million Without Connectivity
Nigeria’s telecommunications industry has attracted nearly $76 billion in investment since privatisation in 2001, transforming the sector from fewer than…
SpaceX Strikes $17 Billion Deal with EchoStar to Power Next-Gen Starlink Connectivity
Elon Musk’s SpaceX has secured a landmark $17 billion agreement with EchoStar Corp to accelerate the expansion of its Starlink…
Nigerian Firms Allocate Over 30% of IT Budgets to Privacy Amid Rising AI Adoption
Nigerian companies are significantly ramping up investments in privacy protection as artificial intelligence (AI) becomes central to their operations. According…
Nigeria’s Trade Investments Plunge as Inflation and FX Pressures Bite Amid Local Sourcing Shift
Foreign investment in Nigeria’s trade sector has taken a sharp hit, with capital inflows plummeting to $34.39 million in the…
NGX Gains N263bn as Consumer Goods, Insurance Stocks Drive Market Rally
The Nigerian Exchange (NGX) opened the week on a positive note, posting a N263 billion gain in market capitalization as…
Nigeria Risks Losing Digital-Native Investors Amid Capital Market Bottlenecks – Proshare Report
Nigeria, widely recognized for its rapid adoption of cryptocurrencies and digital wallets, is struggling to convert its tech-savvy population into…
Investors Lose N833bn as NGX Ends Holiday-Shortened Week in Red
The Nigerian stock market closed last week on a bearish note, with investors losing a staggering ₦833 billion in a…
Heirs Insurance Earns Strong Agusto&Co Ratings, Strengthening Market Position
Heirs Insurance Group has secured a major boost to its credibility after leading ratings agency Agusto&Co awarded strong credit ratings…
Dangote Refinery Denies Shutdown Rumors, Reaffirms Commitment to Petrol Supply
The Dangote Petroleum Refinery has dismissed reports suggesting it plans to shut its petrol unit for up to three months,…
Tesla Proposes $1 Trillion Elon Musk Pay Deal with Scaled-Back Promises
Tesla has unveiled a staggering $1 trillion pay package for CEO Elon Musk, but many of the milestones tied to…
Samsung Launches Galaxy A07 in Nigeria: Slim Design, Durability, and Affordable Care+ Plan
Samsung Electronics has officially introduced the Galaxy A07 in Nigeria, the latest addition to its popular A-series lineup. Following the…
Stock Futures Hold Steady as Investors Await Key Inflation Reports This Week
Stock futures opened little changed on Sunday evening as Wall Street prepared for a pivotal week centered on new inflation…
NGX Lifts Suspension on Universal Insurance as Firm Meets Financial Reporting Obligations
The Nigerian Exchange Limited (NGX) has officially restored trading rights to Universal Insurance Plc, following the insurer’s compliance with its…
CBN Governor Cardoso Hints at Interest Rate Cuts as Inflation Eases and Investor Confidence Rises
Nigeria’s Central Bank governor, Olayemi Cardoso, has indicated that interest rates could soon fall as inflation shows signs of cooling…
Google Antitrust Win Sparks $420 Billion Surge as Tech Giants Hit $21 Trillion Market Value
The U.S. tech industry capped off a historic week, with megacap stocks adding more than $420 billion in market value,…
NGX Slams N133m Fines on 17 Companies Over Late Financial Filings
The Nigerian Exchange Regulation Limited (NGX RegCo) has fined 17 listed companies a total of ₦133.4 million for failing to…
Nigerian Businesses Struggle as Loan Interest Rates Soar to 36%
Nigerian businesses are reeling under crushing loan costs, with commercial bank interest rates now ranging between 29% and 36%. The…
Foreign Investors Bet Big on Lagos as Africa’s Innovation Powerhouse
Lagos is fast emerging as Africa’s leading innovation hub, with foreign investors doubling down on the city’s growing reputation as…
Ghana T-Bills Auction Records 15% Oversubscription as Investor Appetite Grows
Ghana’s Treasury market rebounded strongly last week, with the latest Treasury bills (T-bills) auction recording its first oversubscription in a…
Nigeria’s Banks Face Pressure as N3 Trillion Liquidity Surge Tests CBN’s Inflation Fight
Nigeria’s banking sector is swimming in cash, but analysts warn that the flood of liquidity may do more harm than…
Fuel Crisis Looms as NUPENG, IPMAN, and PETROAN Halt Operations Over Clash With Dangote Refinery
Nigerians are bracing for another round of crippling fuel scarcity as key players in the petroleum sector — including the…
FG Boosts Support for SMEs to Tackle Trade Challenges and Enhance Export Competitiveness
The Federal Government has reaffirmed its commitment to supporting small and medium enterprises (SMEs), which account for over 48% of…
African Businesses Face 35% Higher Technology Costs, IFC Urges Digital Investment
African businesses are grappling with technology costs up to 35% higher than their global counterparts, the International Finance Corporation (IFC)…
BPE Moves to List Two DisCos and One GenCo on NGX, Eyes N312 Billion in 2025 Revenue
The Bureau of Public Enterprises (BPE) has announced plans to list two electricity distribution companies (DisCos) and one generation company…
Jet2 Shares Plunge 14% as Airline Lowers Profit Forecast Amid Slower Bookings
Jet2, the UK-based leisure airline, saw its shares tumble 14% on Thursday after the company warned that its full-year profits…
NGX Penny Stocks Set to Soar Again This September: Top Affordable Picks for Retail Investors
As of August 2025, investors who placed N1 million on Nigeria’s penny stocks at the start of the year could…
Ghanaian Cedi Loses Ground as Import Demand Surges Ahead of Holiday Season
The Ghanaian cedi’s recent status as a global top performer has hit a stumbling block as rising demand for dollars…
Fintech Drives Financial Inclusion in Nigeria: Experts Highlight Banking and Insurance Growth Opportunities
Nigeria’s journey to broaden financial inclusion has received a significant boost from fintech, with experts highlighting its potential to bring…