Top 10 African Countries with the Highest Interest Rates in July 2026
African economies are navigating one of the toughest monetary policy environments in recent years, with central banks maintaining high interest…
Category: Economy
South Africa keeps interest rate at 7% amid rising inflation, rand weakness
South Africa’s central bank has left its benchmark interest rate unchanged at 7%, opting for caution as inflationary pressures, a…
IMF Urges Nigeria, African Nations to Improve Data Transparency to Attract Global Investment
Nigeria and other African countries have been urged by the International Monetary Fund (IMF) to strengthen economic stability, improve data…
Tinubu Turns to World Bank Loans to Expand Social Programmes Amid Rising Poverty
President Bola Tinubu’s administration is increasingly relying on World Bank financing to drive its social investment agenda as it seeks…
Nigeria’s Money Supply Rises to N133.25tn Despite CBN’s Tight Monetary Policy
Nigeria’s broad money supply increased to N133.25 trillion in June 2026, highlighting continued liquidity growth despite the Central Bank of…
Inflows, FX reforms lift external reserves 58% under Cardoso
Nigeria’s external reserves have recorded a remarkable 58 per cent increase since Olayemi Cardoso assumed office as Governor of the…
Nigeria bonds: Top issuers paid up to 20% to raise debt in H1 2026
Corporate and government-backed institutions in Nigeria paid as much as 20% in coupon rates to raise funds from the debt…
Nigeria’s External Reserves Hit $52 Billion, Surpass CBN’s 2026 Target
Nigeria’s external reserves have climbed above the $52 billion mark for the first time in over 17 years, exceeding the…
CBN Holds Interest Rate at 26.5% as Economists Push for Cuts to Ease Borrowing Costs
The Central Bank of Nigeria (CBN) has once again kept its benchmark interest rate at 26.5%, a decision that continues…
Nigeria, Germany Strengthen Strategic Partnership as Bilateral Trade Rises by 10%
Nigeria and Germany have reaffirmed their commitment to strengthening diplomatic and economic relations following a significant increase in bilateral trade…
Nigeria’s Money Supply Climbs to N133.25 Trillion Despite High Interest Rate Regime
Nigeria’s broad money supply surged to N133.25 trillion in June 2026, highlighting continued liquidity growth in the economy despite the…
CBN Explains N100, N200 Note Scarcity as Digital Payments Gain Ground in Nigeria
The Central Bank of Nigeria (CBN) has attributed the growing scarcity of N100 and N200 notes across the country to…
Nigeria’s FX Reserves Climb to $52.5bn as Crude Oil Tax Revenue Boosts External Buffers
Nigeria’s foreign exchange reserves have recorded a significant increase, reaching $52.52 billion as of July 17, 2026, according to the…
Financial stability remains foundation for growth – Oyedele
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has stressed that financial stability remains the cornerstone…
CBN Holds Interest Rate at 26.5% as Businesses Back Cautious Approach Amid Global Uncertainty
Nigeria’s business community and leading economists have thrown their support behind the Central Bank of Nigeria’s decision to maintain the…
Outgoing British High Commissioner Hails Tinubu’s Economic Reforms
As his tenure in Nigeria draws to a close, outgoing British High Commissioner Richard Montgomery has thrown his weight behind…
Tinubu’s Economic Reforms Laying Foundation for Nigeria’s Long-Term Growth, Says Information Minister
Nigeria’s Minister of Information and National Orientation, Mohammed Idris, has expressed confidence that President Bola Tinubu’s economic reforms are positioning…
Nigeria’s Oil Revenue Surges as Higher Crude Prices and Pipeline Security Boost Economic Outlook
Nigeria is poised to benefit from a fresh wave of oil-driven revenue growth as global crude prices continue to climb…
Industrial Stocks Pull NGX Lower Despite Banking Rally and Easing Inflation
Nigeria’s stock market ended the week on a cautious note as losses in industrial stocks overshadowed a strong rally in…
External reserves cross $52 billion, surpass CBN’s 2026 forecast
Nigeria’s external reserves have crossed the $52 billion mark for the first time in more than 17 years, surpassing the…
FG Launches N729bn Power Sector Bond to Clear GenCo Debts and Boost Electricity Reforms
The Federal Government has unveiled a N729 billion Series 2 Power Sector Bond aimed at settling outstanding debts owed to…
CBN Governor Cardoso Warns Global Economic Shocks May Delay Nigeria’s Single-Digit Inflation Goal
Nigeria’s journey toward achieving single-digit inflation may take longer than expected as persistent global economic shocks continue to put pressure…
NGX Emerges Africa’s Second-Best Stock Market as Investors Drive 47.4% Surge in First Half of 2026
The Nigerian Exchange (NGX) has cemented its position as one of Africa’s strongest-performing equity markets, delivering an impressive 47.43% return…
FG Bond Auction Draws Massive Demand as Investors Subscribe ₦1.74tn in July
Investor confidence in Federal Government securities remained strong in July as the Debt Management Office (DMO) recorded an impressive ₦1.74tn…
States get N2.37 trillion VAT in six months under new sharing formula
State governments across Nigeria received a combined N2.37 trillion in Value Added Tax (VAT) allocations during the first half of…
FG rejects reports of N80tn fresh public borrowing
The Federal Government has dismissed claims that President Bola Tinubu’s administration borrowed an additional N80 trillion since assuming office, describing…
Nigeria’s Petrol Imports Surge 207% as Local Supply Drops Despite Dangote Refinery Output
Nigeria’s petrol imports recorded a dramatic increase of 207 percent in June, highlighting the country’s continued reliance on imported fuel…
Nigeria Poised to Build Africa’s Largest Capital Market, Says NGX CEO Temi Popoola
Nigeria has the potential to become home to one of Africa’s largest and most influential capital markets, according to the…
States Pocket N2.37tn VAT Windfall as New Tax Sharing Formula Boosts Revenue
State governments across Nigeria received a massive N2.37 trillion from Value Added Tax (VAT) revenue in the first half of…
Abuja CityWalk to make FCT Africa’s next investment hub – Tinubu
Nigeria’s ambition to become a leading destination for global investment received a major boost as President Bola Tinubu threw his…