Rising Oil Prices Weaken African Currencies, Deepen Inflation Risks Across the Continent
African economies are facing a sharp financial strain as global oil prices surge by over 50 percent, pushing crude above…
Category: Economy
US-Iran War Sparks Economic Strain on Nigerian Businesses and Consumers
The Nigerian business economy is under renewed strain as the ongoing war between the United States and Iran, which erupted…
Nigeria’s Foreign Reserves Drop by $850 Million Amid Election Spending and FX Pressures
Nigeria’s foreign reserves have declined by about $850 million within three weeks, raising fresh concerns among forex traders and market…
Ghana Reference Rate Drops to 10.06% as Lending Costs Start to Ease
Ghana’s financial landscape is seeing a welcome shift as the Ghana Reference Rate (GRR) falls to 10.06% in April 2026,…
Nigeria’s Economic Growth Slows in March 2026 Amid Rising Costs – CBN PMI Report
Nigeria’s economy maintained its growth streak in March 2026, with the Central Bank of Nigeria (CBN) reporting a composite Purchasing…
Nigeria Eyes Global Markets to Boost Trade Amid Structural Challenges
The federal government is accelerating its push toward an export-driven economic model, with Finance and Coordinating Minister Wale Edun emphasizing…
Nigerian States Return to Borrowing Despite FAAC Windfall: Debt Hits N4 Trillion
Nigerian states are returning to heavy borrowing even as allocations from the Federation Account Allocation Committee (FAAC) have soared by…
Hot Money Inflows Drive Nigeria’s $23B Capital Surge, But Analysts Warn of Volatility
Nigeria’s capital importation surged to $6.44 billion in the fourth quarter of 2025, pushing total inflows for the year to…
Naira Strengthens as Remittance Reforms Boost FX Liquidity Despite Falling Reserves
Nigeria’s currency, the naira, started April 2026 on a positive note, posting gains across key foreign exchange markets as improved…
German Firms Target Nigeria’s €222bn Food Market to Boost Agri-Tech Investment
German companies are ramping up their interest in Nigeria’s burgeoning food sector, projected to reach €222 billion by 2026. Both…
President Tinubu Seeks Senate Approval to Raise 2026 Budget by N9 Trillion
President Bola Tinubu has officially requested the Senate’s approval to raise Nigeria’s 2026 Appropriation Bill by N9 trillion, taking the…
Africa Loses $88 Billion Annually to Illicit Financial Flows – Edun Highlights Urgent Need for Fiscal Reforms
Africa loses an estimated $88 billion each year to illicit financial flows (IFFs), Finance Minister and Coordinating Minister of the…
FG Plans to Bridge N9tn Budget Gap with Oil Windfall and $6bn Loans
The Federal Government has requested the National Assembly’s approval for a N9.09tn increase to the 2026 budget, signaling a major…
Naira Weakens to N1,387/$ as Nigeria’s Foreign Reserves Fall to $49.29 Billion
The Nigerian naira weakened slightly to N1,387 per dollar on Tuesday, up from N1,386.75/$ recorded in the previous session, according…
Nigeria’s Oil Sector in Crisis: Urgent Reforms Needed Before Wells Run Dry
For decades, Nigeria’s oil sector has been the backbone of the nation’s economy, funding government budgets and providing much of…
Middle East Conflict Could Slash Africa’s Economic Growth by 1.5% – AfDB Warns
The African Development Bank (AfDB) has cautioned that the ongoing conflict in the Middle East could significantly affect Africa’s economic…
Nigeria’s Banks Face Credit Challenge as Recapitalisation Ends
Nigeria’s banking sector has grown significantly following the Central Bank of Nigeria’s (CBN) sweeping recapitalisation drive, which strengthened balance sheets…
Tax Reforms Drive Nigeria’s Economic Growth: Experts Highlight Opportunities and Challenges
Analysts and tax professionals at the 20th Annual Tax Week have hailed Nigeria’s 2025 tax reforms as a key driver…
Insurance Sector Growth Outpaces Banking but Fails to Boost Nigeria’s GDP Significantly
Nigeria’s insurance sector continues to face a paradox: strong growth rates but minimal contribution to the country’s gross domestic product…
Nigeria’s Foreign Reserves Fall $547 Million in Two Weeks Amid Market Pressures
Nigeria’s foreign reserves have declined by approximately $547 million over a 15-day period in March 2026, signaling renewed pressure on…
US-Iran Conflict Drives Food Prices Up in Nigeria, Deepening Poverty Crisis
Soaring fuel prices linked to the ongoing US-Iran conflict are pushing food prices higher across Nigeria, hitting households already struggling…
Naira Slides Again as Nigeria’s Forex Reserves Drop: CBN Moves to Boost Currency Liquidity
Nigeria’s currency, the Naira, recorded its second consecutive weekly decline against the US dollar, closing at N1,380.58 in the official…
CBN Cuts Treasury Bill Rates as Investors Pour N2.7 Trillion into One-Year Securities
The Central Bank of Nigeria (CBN) has lowered interest rates on longer-term Treasury bills following a surge in investor demand,…
World Bank Moves to Support Economies Hit by Middle East Conflict Amid Rising Global Costs
The World Bank Group has announced plans to support emerging economies grappling with the ripple effects of the ongoing Middle…
CBN Approves 100% Forex Repatriation for Oil Companies in Major Market Reform
The Central Bank of Nigeria (CBN) has approved the full repatriation of foreign exchange earnings for International Oil Companies (IOCs),…
FG and NGX Champion Women’s Participation in Nigeria’s Capital Market
The federal government and the Nigerian Exchange Group (NGX) are intensifying efforts to boost women’s participation in Nigeria’s capital market,…
European Markets Rise as U.S.-Iran Talks Ease War Tensions
European stock markets are poised for a stronger open on Wednesday, lifted by growing optimism that tensions between the United…
EU Launches €290m Nigeria Investment to Boost Healthcare, Agriculture, and Digital Growth
The European Union has announced a €290 million investment package to strengthen Nigeria’s healthcare, digital, and agricultural sectors, marking a…
Dangote Refinery Expands Africa Fuel Supply Amid Global Shortages
The Dangote Petroleum Refinery has made a major move to support Africa’s energy needs, exporting 12 cargoes of refined petroleum…
CBN Sets Sights on Single-Digit Inflation with New Monetary Policy Framework
The Central Bank of Nigeria (CBN) has reaffirmed its commitment to bringing inflation down to single-digit levels as it transitions…