Nigeria’s Device Market Shifts as 5G Adoption Lags Despite Speed Gains
Nigeria’s smartphone market is undergoing a noticeable shift as consumer behaviour changes and network realities reshape device usage across the…
Category: Economy
CBN Drains Record N30tn Liquidity as Election Spending Fears Mount
The Central Bank of Nigeria (CBN) has intensified its monetary tightening measures ahead of the 2027 election cycle, draining a…
FG Moves to Secure Fresh $1.25bn World Bank Loan Ahead of 2027 Elections
The Federal Government is pushing forward with plans to secure a fresh $1.25bn loan from the World Bank to support…
European Stocks Slide as U.S.-Iran Peace Hopes Fade, UK Political Crisis Deepens
European stock markets opened sharply lower on Tuesday as investor confidence weakened following renewed uncertainty over a possible peace agreement…
PFA grows revenue to N42.4 billion, declares N2 dividend
Access ARM Pensions has reported a strong financial performance for the 2025 fiscal year, its first full year after the…
Nigeria to Sanction Poor Telecom Operators as NCC Tightens Service Quality Enforcement – Tijani
Nigeria’s Minister of Communications, Innovation and Digital Economy, Bosun Tijani, has urged telecommunications operators across the country to urgently improve…
FG Threatens Sanctions as Nigerians Lament Poor Telecom Service Quality
Nigeria’s Federal Government has issued a strong warning to telecommunications companies over the worsening quality of network services across the…
Nigeria’s External Reserves Drop by $855 Million in Five Weeks Amid Forex Pressure
Nigeria’s external reserves declined by approximately $855 million within five weeks, highlighting renewed pressure on the country’s foreign exchange position…
Nigeria’s Power Crisis Deepens Despite 300% Tariff Hike as Consumers Pay More for Poor Supply
Two years after Nigeria introduced the controversial Band A electricity tariff system, many consumers say they are paying significantly more…
Dangote Targets 20,000MW Power Expansion as He Pushes Bold Industrial Drive Across Africa
Africa’s richest industrialist, Aliko Dangote, has announced an ambitious plan to enter the power sector with a target of generating…
Canada Posts Surprise Trade Surplus as Oil and Gold Boom Boost Exports
Canada has recorded an unexpected trade surplus, its first in six months, as rising oil and gold prices boosted export…
Only Four African Economies Ready for Sustainable Industrialisation – RED Index 2025 Report Reveals
A new 2025 RED Index of Industrial Development in Africa has revealed a sobering reality about the continent’s industrial future.…
Political Stability Drives FDI in Africa as MAN Calls for Investment Reforms
Despite a gradual rise in foreign investment flows into Africa, the Manufacturers Association of Nigeria (MAN) has warned that Foreign…
FX reforms stabilize Nigeria automotive industry despite rising costs
The Association of Automobile, Boatyards, Transport Equipment and Allied Employers of Nigeria (AABTEAEN) says recent foreign exchange reforms are beginning…
Nigeria–China Zero-Tariff Policy Spurs Export Opportunities, but Concerns Persist
Nigeria’s export sector is entering a new phase as businesses begin to explore opportunities under the Nigeria China zero-tariff exports…
Nigeria Capital Market Inflows to Hit N10.53trn in May – FMDA Forecasts Liquidity Surge
Nigeria’s financial system is set for a significant liquidity boost, with the Financial Markets Dealers Association (FMDA) projecting total inflows…
Naira Exchange Rate Strengthens Against US Dollar, Nears N1,350 Mark Amid Market Optimism
The Nigerian naira continued its upward movement against the US dollar in the official foreign exchange market on Wednesday, edging…
$1 Trillion Economy: Tinubu Courts Global Investors in Paris, Cites 11.2% GDP Growth and Reform Gains
President Bola Tinubu has engaged global investors in Paris, France, where he spotlighted Nigeria’s ongoing economic reforms, transparency drive, and…
Food Prices in Nigeria Rise and Fall in March 2026, NBS Reports Mixed Trends
Fresh data from the National Bureau of Statistics (NBS) shows a mixed pattern in food prices across Nigeria in March…
FMDA projects N10.53 trillion inflows in May on heavy OMO maturities
Nigeria’s fixed income market is expected to experience a major liquidity boost in May 2026, with projected inflows reaching N10.53…
Dangote Group Targets Dollar Bond Sales to Fund Massive Expansion Drive
Dangote Industries Limited is ramping up plans to raise more funds from international investors as it expands its presence in…
Nigeria’s Mining Sector Attracts $2.6bn Investment in 30 Months – Shettima
Nigeria’s mining sector has attracted approximately $2.62 billion in investments over the past 30 months, according to Vice-President Kashim Shettima.…
IMF Warns Angola’s Debt Could Hit Ceiling Amid Oil Revenue Pressures
The International Monetary Fund (IMF) has projected that Angola’s public debt could reach its legal ceiling in the medium term,…
NGX Extends Trading Hours: Will Longer Sessions Boost Liquidity or Weaken Market Volumes?
Nigeria’s equities market has entered a new phase following the extension of trading hours on the Nigerian Exchange Limited (NGX).…
Naira Strengthens to N1,362/$ Amid Dollar Weakness, Extends FX Market Gains
Nigeria’s currency, the naira, continued its upward momentum on Tuesday, appreciating to N1,362/$ and extending its recent gains against the…
CBN Reforms Strengthen Nigeria’s Economy Amid Global Shocks
Nigeria’s economy is facing one of its most challenging periods in recent years, as global uncertainty—driven by the ongoing Middle…
Naira Rebounds in April 2026, Gains N51 as FX Volatility Eases and Market Confidence Returns
The Nigerian naira recorded a notable recovery in April 2026, marking its first monthly gain for the month of April…
Bank Deposits with CBN Drop to N92.32trn After Interest Rate Cut as Liquidity Strategy Shifts
Bank deposits with the Central Bank of Nigeria (CBN) dropped sharply to N92.32 trillion in April 2026, following the Monetary…
Concerns Mount Over Delayed Release of Nigeria’s 2026 Budget Details After Presidential Assent
Concerns are growing over the Federal Government’s delay in publishing the detailed breakdown of Nigeria’s 2026 budget, despite President Bola…
NNPC Remits N2.89 Trillion to Federation Account in Q1 2026 as Oil Revenue Surges
The Nigerian National Petroleum Company Limited (NNPC Ltd) has reported a strong financial performance, remitting a total of N2.89 trillion…