Nigeria Targets 7% Growth with Reforms, Aims to Attract Investments Amid Economic Challenges
Nigeria is setting ambitious economic goals, targeting a 7% annual growth rate to lift millions of citizens out of poverty,…
Category: Local
IMF Warns Nigeria of Fiscal Strain as Global Tensions Threaten Oil Revenue
Nigeria is facing mounting fiscal pressure as the International Monetary Fund (IMF) warns that intensifying global trade tensions and tighter…
Naira muted in unofficial market, Dollar turns green in global market
The Nigerian naira stayed relatively flat in the unofficial market, trading between N1,600 and N1,605 to the dollar, even as…
Nigerians Boost Savings as Quasi-Money Climbs 3.65% in March 2025 Amid Economic Uncertainty
Nigerians are leaning into savings as the economy faces continued uncertainty, with quasi-money—highly liquid financial assets like savings and fixed…
IOCs Undermine Nigerian Refineries by Dodging Local Crude Supply Mandates
Despite legal obligations under Nigeria’s Petroleum Industry Act (PIA), international oil companies (IOCs) continue to bypass direct supply of crude…
Nigerian Insurance Sector Experiences 61% Growth in 2024, with Focus on Claims Innovation and Expansion
The Nigerian insurance industry has witnessed an impressive 61% growth as of the third quarter of 2024, as reported by…
Legend Internet Set to List 2 Billion Shares on NGX, Paving Way for Digital Growth in Nigeria
Legend Internet Plc is making headlines as it prepares to list 2 billion shares on the Nigerian Exchange (NGX) through…
Brokers recommend “hold” on banking stocks as market sentiment improves
Market analysts are taking a cautious but optimistic stance on Nigeria’s banking sector, issuing a string of “Hold” recommendations on…
Naira Holds Steady Amid Global Dollar Resurgence and Fed Drama
The naira stayed relatively stable in Nigeria’s unofficial market, trading between N1,600 and N1,605 per dollar, even as the U.S.…
NGX posts N318bn gain after Easter break
The Nigerian Stock Exchange (NGX) saw a positive rebound after the Easter break, with a significant gain of N318 billion…
IMF Forecasts Nigeria’s Inflation to Reach 37% by 2026 Amid Economic Challenges
The International Monetary Fund (IMF) has projected that Nigeria’s headline inflation will surge to 37% in 2026, following the rebasing…
Naira in Circulation Drops to N5tn as of March 2025 Amid Tightened Monetary Policy
As of March 2025, Nigeria’s currency in circulation dropped to N5 trillion, reflecting a decrease from N5.04 trillion in February…
Ghana’s Energy Sector Poses Major Economic Threat, Says Finance Minister Ato Forson
Ghana’s Minister of Finance, Dr. Cassiel Ato Forson, has identified the energy sector as the most pressing economic risk currently…
Tinubu Urges Deeper ECOWAS Integration to Harness AfCFTA’s Promise
At the ECOWAS Golden Jubilee event in Accra, Nigerian President Bola Tinubu, represented by Ambassador Bianca Ojukwu, called on West…
Customs Eyes Return of 4% FOB Charge Amid Ongoing Duty Relief Efforts
The Nigeria Customs Service (NCS) has announced plans to reintroduce the controversial four per cent Free-on-Board (FOB) value levy on…
Naira Hits N1,845/€ on Easter Monday as Euro Climbs to 3-Year High Against the Dollar
On Easter Monday, the Nigerian naira traded at N1,845 against the euro on the black market, marking a slight decline…
Nigerian Equity Market Loses N207bn Amid Easter Holiday Shutdown
The Nigerian equity market experienced a significant decline during a shortened trading week, with a loss of N207 billion in…
Legend Internet to List Two Billion Shares on NGX, Marking Major Milestone for Nigerian Tech Sector
Legend Internet Plc is set to list two billion shares on the Main Board of the Nigerian Exchange Limited (NGX)…
FX Volatility Drives 9% Increase in Local Inputs Sourcing by Nigerian Manufacturers in 2024
In 2024, the ongoing foreign exchange (FX) volatility in Nigeria caused a significant shift in the manufacturing sector, leading to…
Nigeria’s $630 Million Investment in Data Centres to Meet Surge in Internet Usage
As internet usage continues to soar, data centre operators in Nigeria are investing over $630 million to expand their facilities…
Nigeria’s Foreign Investment Surges to Two-Year High Amid High Yields and Rate Hikes
Foreign investment in Nigeria has surged to its highest level in over two years, largely driven by the Central Bank…
SEC Cracks Down on Unregistered Investment Promotions by Influencers, Enforces New Securities Act
In a strong move to protect Nigerian investors, the Securities and Exchange Commission (SEC) has issued a stern warning to…
Top Nigerian Banks Post Record ₦17.3 Trillion in Gross Earnings, Profit Soars by 60% in 2024
In a year marked by economic hurdles, Nigeria’s top five banks – Zenith Bank, GTCO, UBA, Access Holdings, and First…
CBN Mulls Interest Rate Hike as Money Supply Soars to N114.2tn
The Central Bank of Nigeria (CBN) may be gearing up to raise interest rates in May, as inflationary pressures continue…
CBEX: Oil & gas investors hit hard as fraud surpasses N2trn
The abrupt collapse of Crypto Bridge Exchange (CBEX), a digital investment platform exposed as a Ponzi scheme, has left thousands…
CBEX promoters won’t escape justice – SEC
The Securities and Exchange Commission (SEC) has taken a firm stance against the promoters of Crypto Bridge Exchange (CBEX), a…
FG Targets Cooperative Sector Revamp to Drive $1 Trillion Economy
The Federal Government of Nigeria has launched a comprehensive initiative aimed at revitalizing the country’s cooperative sector, positioning it as…
Nigeria Lands $1.3B Mining Investment, Eyes $25B GDP Surge & $8B FX Boost — Alake
Nigeria just bagged a massive mining investment deal worth $1.3 billion, and it’s being called the biggest private sector-led mining…
Ghana’s Producer Price Inflation Dips to 24.4% in March Amid Sectoral Shifts and Tariff Concerns
Ghana’s Producer Price Inflation (PPI) saw a notable decline in March 2025, falling to 24.4% from 27.6% the previous month,…
Ghana Rolls Out $1M Fund to Empower Northern Farmers and Boost Food Security
In a bold move to strengthen agriculture and combat food insecurity in the northern parts of the country, Ghana’s Minister…