Nigeria’s Interbank Lending Rate Reaches 5-Year High Amid Central Bank’s Tightened Monetary Policy
Nigeria’s interbank lending rate hit a five-year high of 28.58 percent in January 2025, as the Central Bank of Nigeria…
Category: Local
Gaps in Broadband and Data Centres Threaten Nigeria’s $1tn Economy Target, Warn Telcos
Nigeria’s ambition to reach a $1 trillion economy by 2031 is at risk due to significant gaps in its digital…
MTN Ghana Reports 34% Revenue Growth and Announces Dividend Payout for 2024
MTN Ghana has delivered strong financial results for 2024, showcasing a remarkable 34.5% year-on-year increase in service revenue. This growth…
Nigeria Calls for Global Unity to Address Urbanization Challenges Amid Global Shifts
Nigeria’s government has called for innovative solutions and enhanced international cooperation to tackle the pressing urban development challenges in light…
Nigerian Stock Market Suffers N31bn Loss Amid Mixed Sector Performances
The Nigerian Exchange Limited continued its downward trend on Thursday, with the market capitalisation dipping by N31 billion. The All-Share…
Stakeholders Advocate for Boosting Local Capital to Fuel Impact Investments in Nigeria
At the 2025 Investors Roundtable in Lagos, key stakeholders from the financial, investment, and development sectors emphasized the importance of…
Nigeria’s Infrastructure Deficit Threatens Economic Growth and Stability
Nigeria’s economy is facing significant challenges due to a growing infrastructure deficit that is impeding business operations, hindering productivity, and…
TotalEnergies Achieves GHS 286M Profit in 2024 and Contributes GHS 1.7B in Taxes to Ghana
TotalEnergies Marketing Ghana PLC reported a notable increase in profits for 2024, posting GHS 286.67 million in profit after tax,…
Nigeria Faces Economic Slowdown as Money Supply Declines for the First Time
Nigeria’s economic outlook is growing increasingly uncertain as the country experiences its first decline in money supply. The Central Bank…
Liquidity Surge Reduces T-Bill Yields, Eases Borrowing Costs for Nigerian Government
Increased liquidity in Nigeria’s financial markets has led to a decline in the yields on one-year Treasury bills (T-Bills), easing…
Nigerian Banks Turn to Expensive Commercial Papers Amid Liquidity Crisis
In response to mounting liquidity challenges, Nigerian banks are increasingly resorting to expensive short-term commercial papers (CPs) to manage their…
Nigeria and EU Discuss €1.3 Billion Investment, Economic Reforms to Boost Growth
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, met with the European Union (EU) Ambassador to…
Experts Call for Financing, Technology, and Mechanization to Boost Nigeria’s Agriculture
At the BusinessDay Future of Agriculture Conference in Lagos, experts addressed the challenges hindering Nigeria’s agricultural sector, with a particular…
Senate Investigates Rising Data Costs and Pushes for Mandatory Citizen Registration
The Nigerian Senate has directed its Committee on Communications to investigate the recent surge in data costs by telecommunications providers.…
Surge in Attacks on Telecom Infrastructure Raises Doubts Over Nigeria’s Protection Policy
Telecom infrastructure in Nigeria is under increasing threat, with rising incidents of fibre cuts, equipment thefts, and vandalism casting doubt…
Naira Strengthens in Black Market After Cardoso’s Warning, Weakens at Official Market
The Naira experienced a positive shift in the parallel foreign exchange (FX) market on Wednesday, gaining N10 against the US…
Nigeria Must Invest $15 Million Annually to Boost Statistical Performance, Says World Bank
The World Bank has recommended that Nigeria invest between $10 million and $15 million annually to enhance its national statistical…
mediaReachOMD Launches AI-Driven OCI 2.0 to Revolutionize Consumer Insights
In celebration of its 25th anniversary, mediaReachOMD has unveiled OCI 2.0, the latest evolution of its proprietary consumer intelligence platform.…
Nigeria’s Broadband Penetration Reaches 45.61% Despite Decline in Telecom GDP Contribution
Nigeria’s broadband penetration has shown consistent growth, reaching 45.61% as of January 2025, with a total subscription of 98.8 million…
NGX Market Capitalisation Drops by N74bn Amid Bearish Market Trend
The Nigerian Exchange Limited (NGX) experienced a decline in market capitalisation by N74 billion at the close of trading on…
CBN’s Strategic Forex Reforms Boost Naira Stability Amid Economic Recovery
Nigeria’s Central Bank (CBN) has made significant strides to stabilize the naira by enhancing the country’s foreign exchange reserves and…
Nigerian Startups Dominate West African Funding, Cornering 80% of Investments
Nigeria remains the undisputed leader in West Africa’s startup ecosystem, securing a dominant 80% of the region’s total $5.8 billion…
Analysts Predict Drop in T-Bill Yields as Liquidity Improves Ahead of CBN Auction
As Nigeria prepares for its Treasury Bill (T-Bill) auction on Wednesday, analysts expect a decline in yields due to improving…
Stakeholders to Address Nigeria’s Declining Consumer Purchasing Power at 2025 Industry Summit
The 2025 Industry Summit & Awards is set to tackle the critical issue of declining consumer purchasing power in Nigeria’s…
Dangote Refinery Faces Backlash Over Dollar Sales, Expands Exports and Boosts Local Industry
Oil marketers in Nigeria, represented by the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), have strongly opposed the…
Ghana’s Government to Settle $1.1 Billion Debt to ENI Amid Energy Sector Struggles
The government of Ghana is set to pay $1.1 billion in 2025 to ENI, an energy company, to settle outstanding…
CBN Intensifies Efforts to Combat Forex Speculation Amid Naira’s Minor Decline
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has reaffirmed the bank’s commitment to maintaining stability in…
Ghana Loses $1.2 Billion in Gold Revenue Due to Illegal Smuggling in 2022, Minister Reveals
In 2022, Ghana lost an estimated $1.2 billion in gold revenue due to widespread illegal smuggling, according to Finance Minister…
Nigeria’s Banking Recapitalisation: A Path to Economic Diversification and Stability
Nigeria’s ongoing banking recapitalization exercise is expected to play a crucial role in shaping the country’s economic future. According to…
Inflation Eases for Second Consecutive Month in Nigeria, Analysts Cite FX Stability
Analysts have highlighted the role of relative stability in Nigeria’s foreign exchange (FX) market in easing inflationary pressures. The country’s…