ADB Posts GH¢367 Million Profit After Tax as Capital Adequacy Ratio Soars to 27.17%-Ghana
Agricultural Development Bank (ADB) PLC has delivered a remarkable financial turnaround, posting a profit after tax of GH¢367.2 million for…
Category: Business
Oil Prices Plunge 14% to $94 Amid US-Iran Ceasefire: Impact on Nigeria’s Bonny Light
Nigeria’s Bonny Light crude has tumbled by 14.2%, falling to $94.41 per barrel from $110 per barrel, following the announcement…
Nigeria’s Power Sector Contributes N62.12 Billion in Company Income Tax in 2025 Amid Declining Performance
Nigeria’s power sector contributed N62.12 billion in Company Income Tax in 2025, according to the National Bureau of Statistics (NBS).…
Petrol Price Drop Expected in Nigeria as Global Oil Prices Crash 15%
Nigerian motorists may finally get some relief at the pumps as global crude oil prices recorded a sharp decline, raising…
FTSE Frontier Market Upgrade Sparks Rally in Seplat, GTCO, Zenith on NGX
Nigeria’s stock market is experiencing a strong resurgence as renewed global investor confidence drives a rally in major equities, including…
Africa Prudential Revenue Surges 38% to N7.19bn Amid Digital Transformation Drive
Africa Prudential Plc has posted a remarkable 38.35% growth in revenue for the financial year ending December 31, 2025, reaching…
April 2026 FGN Savings Bonds Announced with Interest Rates up to 14.08% for Retail Investors
The Debt Management Office (DMO), acting on behalf of the Federal Government of Nigeria, has announced the April 2026 issuance…
Nigerian Stock Market Gains N209bn as Trading Week Kicks Off
The Nigerian equities market started the new trading week on a strong note, recording a gain of N209 billion in…
FG Raises N3.53 Trillion From Bond Auctions in Q1 2026 Amid Strong Investor Demand
The Federal Government of Nigeria (FGN) successfully raised approximately N3.53 trillion from domestic bond auctions in the first quarter of…
Oil Shock to Drive Nigeria Inflation Up by 3.1 Points, Warns World Bank
Nigeria faces a rising inflation threat as global oil prices surge, the World Bank has warned. In its latest Nigeria…
Nigeria Reduces Oil Dependence as Tax Revenue Soars to 87% of Federation Earnings
Nigeria is undergoing a major fiscal transformation as tax revenues now account for an unprecedented 87% of total federation earnings,…
Africa Must Fast-Track Renewable Energy as Global Capacity Hits Record
Global renewable energy capacity reached an all-time high in 2025, surging to 5,149 gigawatts (GW) with the addition of 692…
Naira Drops to N1,389/$ as Nigeria’s External Reserves Fall by $850 Million
Nigeria’s Naira weakened to N1,389 per dollar, reflecting growing pressure on the local currency as the country’s external reserves fell…
Dangote Refinery Hikes Petrol to N1,275, Diesel Hits N1,950 Amid Global Oil Volatility
Nigeria’s Dangote Petroleum Refinery has raised the gantry price of petrol and diesel, with petrol now costing N1,275 per litre…
Nigerian Oil Prices Drop Below $95 as US-Iran Ceasefire Opens Strait of Hormuz
Nigerian oil prices tumbled below $95 per barrel on Wednesday following news that Iran agreed to a temporary ceasefire with…
NNPC Launches Cawthorne Crude Exports with 950,000-Barrel Maiden Shipment
The Nigerian National Petroleum Company Limited (NNPC Ltd) has officially begun exporting its latest crude grade, Cawthorne, with an initial…
Nigeria Revenue Deductions Swallow 39% of 2025 Inflows, World Bank Warns
Nigeria’s revenue growth in 2025 is impressive on paper, but the World Bank has highlighted a growing fiscal leak that…
Ghana’s Economic Recovery Shows Promise but Risks Remain, S&P Maintains Stable Outlook
Ghana’s economy is showing signs of recovery, according to a recent report by S&P Global Ratings, which affirmed the country’s…
European Stocks Surge 4% on U.S.-Iran Ceasefire Deal as Travel Shares Jump
European markets rallied strongly on Wednesday, with stocks surging nearly 4% after news of a conditional ceasefire agreement between the…
Nigeria Pension Assets Hit Record Growth of N1.39 Trillion in February
Nigeria’s pension assets recorded a historic surge in February 2026, rising by N1.39 trillion to reach N29.43 trillion, the highest…
World Bank Urges Nigeria to Resume Petrol Imports Amid Rising Fuel Prices
Nigeria may need to reopen its doors to petrol imports as rising global energy costs and supply constraints continue to…
Nigeria Regains Frontier Market Status, Boosting Investor Confidence and Stock Market Outlook
Nigeria has officially regained its Frontier Market status, marking a significant turnaround for the country’s capital market and restoring global…
Nigeria Excluded from OPEC+ Crude Oil Production Hike Amid Global Market Adjustments
Nigeria has once again been excluded from the latest crude oil production increase by the Organisation of Petroleum Exporting Countries…
GenCos Question N3.3tn Power Sector Debt Settlement Amid Delayed Payments
The Federal Government’s renewed approval of N3.3tn to settle long-standing power sector debts has ignited fresh controversy, with power generation…
Nigeria Achieves Fiscal Milestone: Non-Oil Revenue Now 75% of Federation Funds
Nigeria has marked a historic turning point in its economic landscape, as non-oil revenue now accounts for 75 per cent…
Nigeria’s Power Sector Gets N3.3 Trillion Lifeline as Eight GenCos Sign Debt Bailout
Eight of Nigeria’s major power generation companies, including Transcorp Power, Egbin Power, and Geregu Power Plc, have signed onto President…
Nigeria Shifts to Tax-Driven Revenue Model as Oil Income Plummets by 26% Over 15 Years
Nigeria’s federal revenue landscape is undergoing a historic transformation, with tax and non-oil income increasingly driving government finances. According to…
FG Raises 2026 Borrowing to N29.2 Trillion as Nigeria’s Fiscal Deficit Widens
The Federal Government of Nigeria has raised its borrowing plan for 2026 to N29.2 trillion, reflecting a sharp increase in…
Naira Settlement Policy Transforms Nigeria’s Diaspora Remittance System
The Central Bank of Nigeria (CBN) has unveiled a landmark naira settlement policy that will transform how diaspora remittances are…
AfDB Approves $11.3M for Mini-Grids to Boost Electricity Access in Nigeria and 13 African Countries
The African Development Bank (AfDB) has approved $11.3 million in renewable energy funding to expand electricity access in Nigeria and…