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…
Category: Economy
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…
Global Oil & Digital Shake-Up: UAE Exit from OPEC, Showmax Shutdown and Key Business Updates to Watch
This week’s global business landscape is shaping up with major developments across energy, media, and economic policy. From oil market…
Naira Appreciates to N1,367/$ in Early May 2026 Trading as FX Market Stability Improves
The Nigerian naira opened the first trading session of May 2026 on a stronger note, appreciating to N1,367.5 per dollar…
Foreign Borrowing Rises as 32 Nigerian States and FCT Add Nearly $1 Billion in New External Debt
Nigeria’s subnational governments increased their reliance on foreign borrowing in 2025, as 32 states and the Federal Capital Territory (FCT)…
CBN to Raise N700 Billion via Treasury Bills Auction in May 2026 Amid Strong Investor Demand
The Central Bank of Nigeria (CBN) has announced plans to raise N700 billion through its Nigerian Treasury Bills (NTBs) auction…
Naira Gains Slightly as FX Liquidity Hits $10bn in April, Trade Activity Surges
The Nigerian naira closed April 2026 on a slightly stronger note, supported by improved liquidity in the country’s foreign exchange…
Naira Ends Losing Streak as FX Liquidity Improves, Trades at N1,379/$ Amid Narrowing Market Gap
The Nigerian naira staged a mild recovery in the official foreign exchange market on Wednesday, breaking a week-long run of…
Naira Strengthens Slightly Against Dollar as FX Turnover Surges in Nigerian Foreign Exchange Market
The Nigerian naira recorded a modest gain against the US dollar on Wednesday, supported by a notable rise in foreign…
Nigeria PMI Falls to 49.4, Signals First Economic Contraction in 16 Months
Nigeria’s economic momentum took a hit in April 2026 as the Purchasing Managers’ Index (PMI) slipped to 49.4, signaling a…
East Africa Attracts $4.1bn Investment as Reforms Drive Capital Surge Across Kenya, Uganda, Rwanda
East Africa has recorded a major boost in investor confidence, attracting about US$4.1bn in investments between 2021 and 2025. The…
BII Targets £9 Billion Investment Push to Boost Nigeria and African Economies
The British International Investment (BII), the United Kingdom’s development finance institution and impact investor, has announced a new five-year strategy…
NNPC Hikes Oil Prices Amid US-Iran War as Global Crude Surges
Nigeria’s oil sector has seen a sharp shift as the Nigerian National Petroleum Company Limited (NNPC) increased the official selling…
Naira Weakens to N1,369 per Dollar as External Reserves Drop $731 Million Amid FX Pressures
The Nigerian Naira weakened further on Monday, slipping to N1,369 per US dollar, down from N1,361.5/$ recorded at the end…
FGN Bond Auction Draws N948bn in Strong Investor Demand Across Three Maturities
Nigeria’s domestic debt market recorded a strong showing in April 2026 as the Federal Government’s latest bond auction attracted a…
Dangote Refinery Says Petrol, Diesel Prices Are Being Subsidised Amid Rising Crude Oil Costs
A senior official of the Dangote Group has disclosed that the Dangote Petroleum Refinery is currently subsidising the prices of…
Naira Outperforms African Currencies Despite Rising FX Pressure
Nigeria’s naira has emerged as one of the strongest-performing currencies in Africa so far in 2026, even as global financial…
PenCom Policy Review Sparks N15.53 Trillion Nigerian Stock Market Rally in 14 Sessions
Nigeria’s equities market recorded a remarkable surge, adding about N15.53 trillion in value over 14 consecutive trading sessions. The rally…
No New Vehicle Tax Introduced by Federal Government, NRS Clarifies Viral Claim
The Nigeria Revenue Service (NRS) has debunked a viral social media infographic suggesting that the Federal Government has introduced a…
Bank Recapitalisation in Nigeria: Tinubu Commends CBN’s Cardoso Over Bold Financial Reforms
President Bola Ahmed Tinubu has commended the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, for his ongoing…
CBN Mops Up N2.8 Trillion from Banks to Tighten Liquidity and Stabilise Naira
The Central Bank of Nigeria (CBN) has intensified its efforts to stabilise the foreign exchange market and control inflation by…
Dangote Refinery Expansion to Create 95,000 Jobs as Capacity Hits 1.4 Million Barrels Per Day
Aliko Dangote, President of the Dangote Group, has announced that the ongoing expansion of the Dangote Petroleum Refinery will generate…