Nigeria’s Bond Market Booms as Inflation Eases: DMO Auction Sees 603% Oversubscription
The Debt Management Office (DMO) of Nigeria experienced an overwhelming response at its June 2025 bond auction, with investors submitting…
Category: Economy
Afreximbank Disburses $18.7 Billion to Boost African Trade and Integration
The African Export-Import Bank (Afreximbank) announced that it disbursed $18.7 billion in 2023 to support trade, industrialization, and business growth…
Africa Sets Sights on $712 Billion Digital Trade Boom by 2035 with AfCFTA
Africa is strategically aligning itself to tap into a projected $712 billion digital trade market by 2035 through the African…
Nigeria Becomes Crude Oil Importer Despite Being Africa’s Top Producer
In a striking contradiction, Nigeria—Africa’s leading oil producer—spent N1.19 trillion importing crude oil in the first quarter of 2025, making…
U.S. Backs Investment Push in Lagos Free Zone, Eyes Stronger Economic Ties with Nigeria
The United States has reaffirmed its commitment to supporting foreign direct investment in Nigeria, particularly in the Lagos Free Zone…
Markets Hold Steady as Europe Awaits ECB Rate Cut Amid Global Trade and Bond Moves
European markets opened cautiously on Thursday as investors awaited a widely anticipated interest rate cut from the European Central Bank…
Trump Administration Renegotiates Biden-Era Semiconductor Grants to Boost Value for Taxpayers
The Trump administration is revisiting and renegotiating several semiconductor grants originally awarded under former President Joe Biden’s CHIPS and Science…
Nigeria’s Public Debt Could Surge to N800,000 Per Citizen Amid New $21.5 Billion Borrowing Request
Nigeria faces a significant rise in public debt if the Senate approves President Bola Tinubu’s request for $21.5 billion in…
With 47.73% Spread, Nigeria Still Far from Attaining 70% Broadband Penetration Target
Despite bold projections by the Nigerian Communications Commission (NCC) to surpass 70% broadband penetration by the end of 2025, recent…
Dangote: 52 Kobo of Every Naira in Local Investment Goes to Federal Government
At the 2025 Taraba International Investment Summit (TARAVEST) held in Jalingo, the Chairman of Dangote Group, Alhaji Aliko Dangote, emphasized…
BREAKING:Petrol Prices Surge by 76.73% Year-on-Year in April 2025 Despite Monthly Dip – NBS
In April 2025, the average retail price of Premium Motor Spirit (PMS), or petrol, soared to N1,239.33 per litre, marking…
EU Slashes Euro Zone Growth Forecasts Amid U.S. Trade War, Rising Economic Uncertainty
The European Commission has revised its euro zone economic growth forecast downward, citing the ongoing trade war initiated by the…
IMF Warns Surge in AI-Driven Electricity Demand Could Strain Global Economy and Environment
The International Monetary Fund (IMF) has issued a warning about the rapidly growing electricity demand driven by the expansion of…
China Pressures U.S. to Scrap Tariffs Ahead of Crucial Switzerland Trade Talks
As the U.S. and China gear up for high-stakes trade negotiations in Switzerland, Beijing has called on Washington to demonstrate…
Nigeria Fully Repays $3.4bn IMF COVID-19 Loan Principal, Faces Ongoing Interest Charges
Nigeria has officially completed the repayment of the $3.4 billion loan it secured from the International Monetary Fund (IMF) at…
Senate Moves Ahead on Tax Overhaul, Passes Two Major Reform Bills
In a significant step toward overhauling Nigeria’s tax administration, the Senate has passed two of the four major tax reform…
Declining Oil Production Threatens Nigeria’s Fiscal Stability and Dollar Earnings
Nigeria’s fiscal stability is under increasing pressure as the country’s crude oil production dropped to its lowest level in 2025.…
MAN Warns U.S. Tariff Could Derail Nigeria’s N55trn Budget, Threaten AfCFTA Ambitions
The Manufacturers’ Association of Nigeria (MAN) has raised the alarm over the imposition of a 14% tariff on Nigerian goods…
Oil Slump and US Tariffs Shake Nigeria’s FX Market, Deepening Naira Volatility
Nigeria’s foreign exchange market has once again come under intense pressure as a mix of falling global oil prices and…
Government Rejects GH¢2.36bn in T-bill Bids Amid Fiscal Caution
The government of Ghana has adopted a more cautious approach to borrowing, rejecting a substantial portion of bids totaling GH¢2.36…
Japan’s Stocks Drop Amid Trade War Tensions as U.S.-China Relations Sour
Asian markets experienced mixed trading on Friday, with Japan’s Nikkei 225 falling nearly 3% amid escalating trade war tensions between…
Xi Jinping Breaks Silence on U.S. Trade War: “China Is Not Afraid”
In his first public statement since tensions reignited between the United States and China, President Xi Jinping declared that China…
Nigeria’s Economy Shows Signs of Recovery as PMI Reaches 52.3 in March 2025
Nigeria’s economy appears to be on a path to gradual recovery, as the Central Bank of Nigeria (CBN) reported a…
MTN Plans Second Public Offer in Nigeria Following Projected Financial Rebound
MTN Group is preparing to reduce its stake in MTN Nigeria from 76% to 65% through a second public offering,…
Global Markets Soar After Trump Halts Tariff Plans, but China Faces Increased Duties
Global stock markets experienced a significant boost on Wednesday following President Trump’s surprising announcement of a 90-day pause on his…
GRA Exceeds Q1 Tax Revenue Target, Collects GH₵41bn
The Ghana Revenue Authority (GRA) has announced an impressive performance in the first quarter of the year, surpassing its tax…
CBN, Firms Drive FX Inflows to 22-Month High Amid Global Trade Uncertainties
In March 2025, Nigeria’s foreign exchange (FX) inflows surged to a 22-month high of $3.11 billion, marking a 51% month-on-month…
AGI Warns Against ECG’s Non-Compliance with Local Content Laws in Cable Imports
The Association of Ghana Industries (AGI) has raised concerns about the Electricity Company of Ghana’s (ECG) continued importation of electrical…
Governors Block Local Government Chairmen from Opening CBN Accounts for Direct Allocation Payments
The implementation of the Supreme Court’s ruling on local government autonomy has encountered new challenges, as several state governors are…
Asian Markets Dive as Trump’s Tariff War Deepens Global Economic Turmoil
Asian markets faced a sharp decline on Monday, deepening a global stock market rout spurred by the escalating trade war…