Nigeria Slips to Fourth in African Startup Funding as South Africa Dominates H1 2025
South Africa emerged as Africa’s leading startup investment hub in the first half of 2025, securing $344 million in venture…
Category: Local
Nigeria Becomes Net Importer of U.S. Crude Amid Dangote Refinery Surge
For the first time in history, Nigeria imported more crude oil from the United States than it exported, reversing the…
Nigerian Stock Market Inches Higher as Nestle, 29 Stocks Lift NGX Index by 0.08%
Equities on the Nigerian Exchange Limited (NGX) extended their upward momentum on Wednesday, July 24, 2025, with the All-Share Index…
SEC Embraces Quantum and Blockchain to Transform Nigeria’s Capital Market
The Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, has reaffirmed the Commission’s commitment to leveraging cutting-edge technologies…
Nigeria’s Economy Rebounds: Edun Hails Rebasing and Q1 2025 GDP Growth as Signs of Inclusive Takeoff
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has praised the rebased Gross Domestic Product…
Nigerian Banks Close 29.4 Million Accounts Amid NIN-BVN Compliance Push; 33 Million Now Inactive
As of March 2025, Nigerian commercial banks recorded 29.4 million closed bank accounts, reflecting an aggressive cleanup of questionable accounts…
11 Nigerian Banks Breach CBN Bad Loan Threshold Amid Risk Reclassification
At least 11 commercial banks in Nigeria surpassed the Central Bank of Nigeria’s (CBN) regulatory ceiling of five percent for…
Dangote Refinery Drives Record U.S. Crude Oil Exports to Nigeria
For the first time in history, the United States became a net exporter of crude oil to Nigeria in February…
Nigeria’s Financial System Stable, Reforms Here to Stay — CBN Governor Cardoso Reassures Investors
Reassurance Amid Global Uncertainty:Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has affirmed the stability and resilience of…
Naira Could Strengthen to ₦1,400/$ by Year-End Amid Eurobond Hopes, Oil Rally, and FX Reforms
Nigeria’s currency, the naira, is projected to appreciate to ₦1,400 per dollar in the second half of 2025, according to…
NGX Ends Flat Despite N67bn Market Cap Gain as Trading Volume Slumps
The Nigerian Exchange Limited (NGX) wrapped up Wednesday’s trading session on a muted note, recording a modest gain of N67bn…
Nigeria’s Fintech Week Goes Nationwide: Expanding Innovation Beyond Lagos
The Fintech Association of Nigeria (FinTechNGR) is set to take its flagship event, the Nigerian Fintech Week, beyond Lagos for…
Nigeria’s ICT Sector Fuels Economic Growth with 7.4% Surge in Q1 2025
Nigeria’s Information and Communication Technology (ICT) sector has continued to drive the nation’s economic performance, contributing 10.59% to the country’s…
Nigeria Needs 7% Annual Growth to Lift Poor, Says Finance Minister
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, stated that the country must sustain a minimum…
African Sovereign Wealth Funds Rise as Pillars of Infrastructure and Economic Stability — NSIA CEO
Sovereign wealth funds (SWFs) across Africa are emerging as powerful tools for capital mobilisation, strategic investments, and long-term economic resilience,…
Ghana’s Mining Chamber Urges Government to Cut Growth and Sustainability Levy to 1%
In anticipation of Ghana’s upcoming mid-year budget review, the Ghana Chamber of Mines is advocating for a reduction in the…
Nigeria’s ICT Sector Surges 31.63% in Q1 2025, Driven by Broadband, Mobile Growth, and Digital Content Boom
Nigeria’s Information and Communications Technology (ICT) sector posted a significant 31.63% year-on-year nominal GDP growth in Q1 2025, a sharp…
Dangote Refinery Imports 10 Million Barrels of Crude Monthly Amid High Costs, Calls for African Refining Revolution
Aliko Dangote, President/CEO of Dangote Industries, revealed that the Dangote Refinery imports between 9 to 10 million barrels of crude…
Stock Market Soars as Investors Push NGX Up by ₦396 Billion Amid Bullish Sentiment
The Nigerian stock market maintained its bullish momentum on Tuesday, July 22, 2025, adding ₦396 billion in market capitalisation as…
NGX and FG Drive Push for Capital Formation to Boost $1 Trillion Economic Goal
At the 2025 Chartered Institute of Stockbrokers (CIS) National Workshop held at the Presidential Villa in Abuja, key players in…
Nigeria’s External Reserves Rise by $200 Million in 30 Days Amid Stable FX Market
Nigeria’s external reserves experienced a steady rebound over the past month, rising by $200.3 million from $37.738 billion on June…
Stock Market Rallies as CBN Holds Rates Steady, Investors Eye Dividends
Nigeria’s stock market continued its upward momentum on Tuesday following the Central Bank of Nigeria’s (CBN) decision to maintain all…
SEC Eyes $500bn from Dormant Commodities and Minerals to Boost Nigeria’s Economy
The Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, has revealed that Nigeria could unlock approximately $500 billion…
Debt-to-GDP ratio drops to 39.4% after GDP rebasing
Nigeria’s public debt-to-GDP ratio has dropped to 39.4% in Q1 2025, following the rebasing of the country’s Gross Domestic Product…
NGX Set to Break Turnover Records in 2025 as Foreign Investment and Retail Participation Surge
The Nigerian Exchange (NGX) is on track for a record-breaking year in 2025, with a turnover of ₦694 billion posted…
Dangote Accuses Global Oil Traders of Sabotaging Africa’s Refinery Growth
Aliko Dangote, Africa’s richest man and President of Dangote Industries, has raised alarm over what he describes as deliberate sabotage…
Ghana Cedi at 60: Citizens Express Doubts Despite 2025 Gains
Marking its 60th anniversary in 2025, the Ghana Cedi stands as a symbol of Ghana’s economic independence since replacing the…
Nigeria Targets $1 Trillion Economy by 2030 Through “Nigeria First” Policy and Investment Drive
The Federal Government of Nigeria has reaffirmed its commitment to achieving a $1 trillion economy by 2030 through a comprehensive…
Naira Slips to ₦1,532.34/$ Despite CBN Efforts Amid FX Market Volatility
The Nigerian naira closed the week of July 21st, 2025, weaker against the US dollar, depreciating by 0.14% to ₦1,532.34/$…
Market Boom Masks 40% Stock Crash: Six Nigerian Firms Buck N20 Trillion Rally
Despite a historic N20.1 trillion rally in Nigeria’s equities market in 2025, six publicly listed companies have bucked the trend,…