Nigerian Stock Market Rally Continues as Equities Gain N1.52 Trillion Amid Strong Investor Demand
The Nigerian equities market extended its bullish run on Tuesday as investors recorded a combined gain of about N1.52 trillion,…
Category: Economy
IMF Warns Unrealistic Budgets Are Driving Wider Fiscal Deficits in Sub-Saharan Africa
Sub-Saharan African countries are facing growing pressure on their public finances as a new report from the International Monetary Fund…
FGN Bond Auction May 2026: DMO Announces N600 Billion Issuance to Finance Government Spending
The Debt Management Office has announced a fresh N600 billion Federal Government of Nigeria bond auction scheduled for May 2026…
Tinubu blames high borrowing costs for Africa’s weak manufacturing growth
President Bola Ahmed Tinubu has blamed high borrowing costs, illicit financial flows, and restrictive global financial policies for the slow…
Nigeria’s Oil Production Climbs to 1.66mbpd in April as Output Nears OPEC Quota
Nigeria’s oil production recorded a strong increase in April 2026, with total crude oil and condensate output rising to 1.663…
Egypt Overtakes Nigeria on FT Fast-Growing Firms Ranking as Naira Crisis Hits Startups
Nigeria has lost its long-standing dominance on the Financial Times’ list of Africa’s fastest-growing companies, with Egypt emerging as the…
Nigerian Breweries, Guinness, Others Defy Economic Hardship as Revenue Jumps to N2.8 Trillion
Despite worsening economic conditions and shrinking consumer purchasing power, Nigeria’s leading brewing companies posted impressive financial results in 2025, highlighting…
NNPC and NUPRC Remit N322bn, $116.9m Under Executive Order 9 as Nigeria Boosts Oil Revenue Transparency
The Nigerian oil sector recorded a major revenue boost as the NNPC Limited and the Nigerian Upstream Petroleum Regulatory Commission…
Nigeria’s Banking Sector Set for N10.53 Trillion Liquidity Surge as Investor Confidence Improves
Nigeria’s banking sector is on track to receive a massive liquidity boost of about N10.53 trillion in May 2026, signaling…
Dollar Cycles and Middle East Tensions Put African Industries at Risk – Manufacturers Warn
African manufacturers are raising concerns that recent currency stability across parts of the continent may be misleading, as deeper structural…
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…
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…