NGX Stock Market Turnover Drops 31% to N111bn Amid Holiday-Shortened Trading Week
The Nigerian stock market ended a shortened trading week on a softer note, as equity traders exchanged about N111.48 billion…
Category: Economy
NECA: Economic Reforms Fail to Ease Pressure on Nigerian Businesses Amid Rising Costs
Despite ongoing economic reforms in Nigeria, the Nigeria Employers’ Consultative Association (NECA) says many businesses are still struggling under heavy…
Nigeria’s Banks Face Rising Bad Loans as CBN Ends Regulatory Forbearance, NPL Ratio Hits 8.03%
Nigeria’s banking sector is under fresh pressure as bad loans climbed to 8.03 per cent in January 2026, following the…
Dangote Refinery Becomes World’s Largest Jet Fuel Exporter Amid Global Supply Disruptions
Nigeria’s Dangote Petroleum Refinery has achieved a major milestone, emerging as the world’s largest exporter of jet fuel in April…
Naira Ends May at N1,372/$ as FX Market Stability Boosts Investor Confidence
The Nigerian naira ended May 2026 at N1,372 against the United States dollar, marking a relatively stable performance despite ongoing…
Nigeria Private Sector Credit Declines by N14 Trillion Despite CBN Rate Cut
Nigeria’s private sector has recorded a sharp contraction in lending, with credit falling by over N14 trillion within just two…
South Korea Kospi Hits Record High as Asian Markets Trade Mixed on Iran Peace Hopes
South Korea’s benchmark Kospi index surged to a fresh record high on Tuesday, leading gains across Asian markets as trading…
Capital Markets Urged to Fund Africa’s Creative Economy — Kwairanga Pushes for New Investment Class
African capital markets have been urged to expand their investment focus beyond traditional sectors such as oil, banking, and manufacturing,…
Nigeria’s Refinery Struggles Deepen as Fuel Import Bill Hits ₦46.17 Trillion Amid Calls for Local Production Reform
Nigeria’s dependence on imported fuel continues to spark debate as industry experts warn that local refineries are still struggling with…
FG Cancels $717.7 Million World Bank Power Loan as Nigeria’s Electricity Crisis Deepens
Nigeria’s efforts to revive its struggling electricity sector suffered a major setback after the Federal Government cancelled $717.7 million in…
Nigeria’s Oil Sector Contributes 3.92% to GDP in Q1 2026 Despite Improved Growth Performance
Nigeria’s oil sector accounted for 3.92% of the country’s real Gross Domestic Product (GDP) in the first quarter of 2026,…
Naira Weakens to N1,375/$ Amid Rising FX Pressure Despite $48.72bn External Reserves
The Naira weakened to N1,375.46 per dollar in the official market last week, marking a 0.32% decline as pressure from…
MPC Holds Interest Rate at 26.5% as Inflation Pressures Rise: What It Means for Nigeria’s Economy
At its 305th meeting, Nigeria’s Monetary Policy Committee (MPC) chose to keep the Monetary Policy Rate (MPR) unchanged at 26.5%,…
Nigeria’s Economic Pulse: NBS GDP Report, AfDB Meetings, Dangote Refinery IPO and Key Business Moves to Watch This Week
Nigeria and the wider African business landscape are set for a packed week of economic signals and high-level policy discussions,…
Cooking Gas Crisis in Nigeria: Prices Hit ₦1,500/kg as Marketers Warn of Scarcity and Economic Shock
Nigeria’s cooking gas market is under fresh pressure as marketers raise alarm over worsening scarcity and a sharp increase in…
Nigeria’s Foreign Reserves Rebound by $551 Million in May, Boosting Confidence in Economy and Naira Stability
Nigeria’s foreign reserves have recorded a remarkable recovery, rising by approximately $551 million within the first three weeks of May…
CBN Sells N829.32bn Treasury Bills as Investors Rush Long-Term Papers Amid Strong Demand
The Central Bank of Nigeria (CBN) has allotted a total of N829.32 billion at its Treasury Bills Primary Market Auction…
Naira Strengthens to ₦1,840/£1 as UK Political Tensions Weigh on Pound Sterling
The Nigerian naira has recorded a fresh gain against the British pound sterling, trading at ₦1,840/£1 according to the latest…
Trade growth: Nigeria’s maritime sector shows early gains from reforms
Nigeria’s maritime industry is beginning to show clear signs of recovery and expansion, with new data from Q1 2026 pointing…
Asia-Pacific Markets Rally as Investors Weigh U.S.-Iran Peace Deal Prospects
Asia-Pacific stock markets ended Friday on a strong note as investors reacted positively to ongoing diplomatic efforts between the United…
CBN Holds Interest Rate at 26.50%: What It Means for Mutual Funds, Pension Returns and Investors
The Central Bank of Nigeria (CBN) has maintained its Monetary Policy Rate (MPR) at 26.50%, a decision that is expected…
Naira Strengthens Against Euro as CBN Holds Interest Rate at 26.5% Amid Economic Reforms
The Nigerian Naira has recorded a notable gain against the Euro, strengthening by about 5.4% since the start of the…
World Bank Group Targets $23bn Private Capital Push to Power Africa’s Jobs and Infrastructure Growth
The World Bank Group has announced an ambitious plan to mobilise around $23 billion in private capital for Africa, in…
CBN Interventions Drop Below 2% as FX Market Deepens, Says Cardoso
The Central Bank of Nigeria (CBN) has stated that its direct involvement in the foreign exchange market has significantly reduced,…
CBN Retains Interest Rate at 26.5% as External Shocks Drive Inflation Pressure in Nigeria
The Central Bank of Nigeria (CBN) has maintained its benchmark interest rate at 26.5 percent, following its latest Monetary Policy…
Insurance Firms Double Tax Payments to N15.2bn Despite 15% Drop in Profit Before Tax
Nigeria’s insurance sector recorded a significant rise in tax contributions in 2025, with 11 major insurance companies paying a combined…
Dangote Refinery Listing to Open Africa’s Industrial Future to Investors
President of the Dangote Group, Aliko Dangote, has revealed that the planned listing of Dangote Petroleum Refinery & Petrochemicals on…
Africa Set to Receive $6.4 Billion Annual Investment Guarantees as World Bank Arm Moves to Unlock Private Capital
Africa is set for a major boost in development financing as the World Bank’s Multilateral Investment Guarantee Agency (MIGA) plans…
How Africa’s misaligned gas commercial model hurts its economies
Across Africa, a strange economic contradiction is unfolding: countries rich in natural gas reserves continue to suffer widespread energy poverty.…
Nigeria’s Oil Sector Booms as Local Content Policy Drives 117 Operating Firms and 61% Industry Growth
Nigeria’s oil and gas sector is undergoing a major transformation as local content policies continue to reshape the industry, boosting…