Nigeria’s Consumer Credit Drops to N3.03 Trillion as Retail Loans Crash 42%
Nigeria’s consumer credit market suffered a major setback in February 2026, with total outstanding consumer loans dropping sharply to N3.03…
Category: Business
Nigeria Leads Africa in IMD Economic Performance Ranking Despite Competitiveness Challenges
Nigeria has been ranked as the highest-performing economy in Africa on the economic performance pillar of the International Institute for…
NGX Rebounds as Airtel Africa Drives N652.8bn Market Gain Amid Persistent Selling Pressure
Nigeria’s stock market ended June on a positive note as renewed investor interest in Airtel Africa and other blue-chip stocks…
US Stock Futures Slip as Investors Pause After Dow’s Strongest First Half in Five Years
Wall Street looked set for a cautious start to July as U.S. stock futures slipped on Wednesday, following an impressive…
World Bank Approves $1.25bn Nigeria Loan Amid Growing Debt Concerns and Economic Reform Push
The World Bank has approved a fresh $1.25 billion loan for Nigeria under its Nigeria Actions for Investment and Jobs…
Nigeria’s $1.5bn Abu Dhabi Drawdown to Cut Borrowing Costs, Says Oyedele
Nigeria’s decision to access only $1.5 billion from its $5 billion financing arrangement with First Abu Dhabi Bank (FAB) is…
Cash Outside Banks Hits One-Year High of N5.19 Trillion, Accounts for 91.3% of Nigeria’s Currency in Circulation
Nigeria’s reliance on cash remains remarkably strong, as new data from the Central Bank of Nigeria (CBN) shows that cash…
Dangote Targets 2.1 Million BPD Refining Capacity as Congo Energy Partnership Talks Gather Momentum
Africa’s industrialisation drive received a major boost as the Dangote Group unveiled plans to increase its total refining capacity to…
Elon Musk Reclaims Trillionaire Status as SpaceX and Tesla Shares Soar
Elon Musk has once again crossed the trillion-dollar wealth mark after a strong rally in the shares of SpaceX and…
Naira Ends June at N1,376/$ as Forex Market Weathers Volatility and Maintains Stability
The Nigerian naira closed June 2026 at N1,376 against the United States dollar in the official foreign exchange market, ending…
Dangote Refinery Turns to UAE Crude as Nigeria’s Supply Crisis Deepens
Nigeria’s ongoing crude oil supply challenges have come under fresh scrutiny following Dangote Petroleum Refinery’s decision to import its first-ever…
Nigeria Eyes Return to Global Debt Market with First Eurobond Sale Since November
Nigeria is taking significant steps toward re-entering the international debt market as the Debt Management Office (DMO) begins preparations for…
Nigeria Tops African Peers in IMD Economic Performance Ranking Despite Competitiveness Challenges
Nigeria has emerged as the highest-performing African economy in the International Institute for Management Development (IMD) World Competitiveness Ranking 2026,…
World Bank to End China Lending by 2031 as Partnership Enters New Phase
The World Bank has announced plans to phase out lending to China by 2031, signaling a significant change in its…
Nigeria Stock Market Records Historic N13.3 Trillion Loss in June as Investor Selloff Deepens
Nigeria’s stock market experienced its worst month on record in June 2026, with investors losing a staggering N13.29 trillion in…
Nigeria’s Money Market Set for N500bn Liquidity Boost as OMO Bills Mature
Nigeria’s money market is expected to receive a significant boost this week as approximately N500 billion from maturing Open Market…
Wall Street Ends First Half on a High as Dow Hits Record Close and Stock Futures Edge Higher
Wall Street is preparing to close out the first half of the year on a strong note, with U.S. stock…
Ethiopia Secures Landmark $1 Billion Bond Restructuring Deal as Investor Confidence Rebounds
Ethiopia has taken a major step toward resolving its long-running debt crisis after reaching a preliminary agreement with key bondholders…
Nigeria’s Oil Windfall Has an Expiry Date as Experts Warn of Looming Revenue Risks
Nigeria’s recent surge in oil revenue may appear to signal a stronger economic outlook, but analysts are warning that the…
DMO unveils N4 trillion FGN Bond auction plan for Q3 2026
Nigeria’s Debt Management Office (DMO) has announced an ambitious Federal Government of Nigeria (FGN) Bond issuance plan worth approximately N4…
Dangote Eyes Major Tanzania Expansion with Ports, Power Plant and Fertiliser Projects
Tanzania is set for a new wave of industrial and infrastructure development following high-level talks between President Samia Suluhu Hassan…
FEC Approves $2.9 Billion Financing Package to Boost Transport, Agriculture, Power and MSMEs
The Federal Executive Council (FEC) has approved a massive financing package worth approximately $2.96 billion, €200 million and N215 billion…
Flutterwave’s $50bn Milestone Signals a New Era for Africa’s Digital Payments Revolution
Africa’s digital economy is entering a transformative phase, and Flutterwave’s latest milestone is offering a glimpse into just how far…
Nigerian Stock Market Adds N46.6 Trillion in H1 2026 as Investor Confidence Soars
The Nigerian stock market delivered an exceptional performance in the first half of 2026, with investors gaining a remarkable N46.6…
FG Orders Fuel Marketers to Cut Petrol Prices as Crude Oil Costs Fall
The Federal Government has directed petroleum marketers to reduce the pump price of petrol in line with the recent decline…
NGX Market Crash Wipes Out N2.35 Trillion as MTN, Unilever Lead Massive Selloff
Nigeria’s equities market endured another painful trading session on Monday as investors lost an estimated N2.35 trillion following a broad-based…
US Demand for Nigerian Goods Falls as Trade Deficit Hits N1.63 Trillion in Q1 2026
Nigeria’s trade relationship with the United States took a significant turn in the first quarter of 2026, as demand for…
Analysts Advise Investors to Focus on Strong Stocks as Nigerian Equities Market Faces Fresh Pressure
The Nigerian equities market came under renewed pressure last week as persistent sell-offs wiped billions of naira from investors’ portfolios,…
Nigeria’s Debt Servicing Swallows 72% of Revenue as Analysts Warn of Fiscal Sustainability Risks
Nigeria’s growing debt burden is raising fresh concerns among economic analysts after debt servicing costs consumed nearly 72 per cent…
Economic Reforms Key to Nigeria’s Sustainable Growth, Says NGX Chairman
Nigeria’s journey toward sustainable economic growth depends heavily on the successful implementation of economic reforms and the strengthening of institutions,…