Dangote Refinery Halts Naira-Based Petrol Sales Amid Currency Mismatch
Dangote Petroleum Refinery has announced a temporary suspension of its petroleum product sales in Naira. This decision stems from a…
Category: Local
OADC to Build $240M Hyperscale Data Centre in Lagos, Boosting Africa’s Digital Infrastructure
Open Access Data Centres (OADC), a subsidiary of WIOCC, has announced a significant investment of $240 million to build a…
65.5% of Nigerians Advocate for Lower Lending Rates, CBN Survey Reveals
A new survey by the Central Bank of Nigeria (CBN) has revealed that 65.5% of Nigerian households support a reduction…
GSM Maintains Dominance as Active Data Internet Subscribers in Nigeria Reach 142 Million
As of January 2025, Nigeria’s active data internet subscribers reached 142.16 million, according to the Nigerian Communications Commission (NCC). The…
Naira Gains Slightly to 1530.52/$ Amid Stability Efforts and Structural Reforms
The Nigerian naira showed a marginal appreciation of 0.16% on Wednesday, closing at 1530.52/$ compared to the previous day’s rate…
Nigeria’s Telecom Sector Faces Declining Revenue as Currency Depreciation Hits ARPU“““““““““`
Nigeria’s telecommunications market has seen a significant downturn, with the average revenue per user (ARPU) falling by 38.79% in 2024.…
CBN’s Bank Recapitalisation and FX Reforms Pave Path to $1 Trillion Economy by 2030
The Central Bank of Nigeria (CBN) is implementing a series of strategic reforms to strengthen the nation’s financial services sector,…
Insurance Brokers Eye Opportunities in $490B AfCFTA Market Amid Regulatory Concerns
As Nigeria joins 54 other African nations in advancing a single trade area under the African Continental Free Trade Area…
Finance Minister Pledges Support for Private Sector Growth in Meeting with Dangote
The Federal Government has reaffirmed its commitment to fostering a business-friendly environment to stimulate private-sector investments and boost economic growth…
Nigeria’s Crypto Future: Stronger Regulations to Boost Investment, Says FlashChange CEO
The Chief Executive Officer of FlashChange, Bidemi Oke, discussed the growing role of cryptocurrencies in Nigeria’s financial landscape, emphasizing that…
Exporters and Non-Bank Corporates Lead Nigeria’s Dollar Inflows as Naira Weakens
Exporters and non-bank corporates were the main contributors to Nigeria’s dollar inflows, accounting for 64% of the total inflow into…
Nigeria’s Economic Rebase Offers New Growth Opportunities for Businesses and Consumers in 2025
Nigeria has entered 2025 at a crucial economic crossroads, following a period of substantial reforms designed to reshape its financial…
PAFON 2.0 Set to Revolutionize AI-Driven Payment Systems in Nigeria
The Payments Forum Nigeria (PAFON) 2.0 is gearing up to bring together Nigeria’s top digital finance experts, policymakers, and tech…
Ghana’s 2025 Budget Allocation to Agriculture Deemed Insufficient by Agri-Impact CEO
In the 2025 national budget, only GH¢1.5 billion, representing 0.54% of the total GH¢279 billion, has been allocated to the…
Nigeria’s Inflation Crisis: Erosion of Savings and Wealth Strikes Hard
Nigeria’s inflation crisis has escalated, eroding the wealth of millions of citizens and making it increasingly difficult to save or…
Stock Market Sees N266bn Loss Amid Profit-Taking in BUA Cement and Other Stocks
The Nigerian stock market experienced a decline of N266 billion on the back of profit-taking, particularly in BUA Cement, which…
CBN Approves Greenwich Holdings Structure to Strengthen Financial Group’s Growth
The Central Bank of Nigeria (CBN) has granted approval for the establishment of Greenwich Holdings Limited as the new financial…
AI to Revolutionize Marketing Strategies, MediaFuse-Dentsu Pioneers Change
MediaFuse-Dentsu Nigeria has announced its plans to revolutionize marketing communications with artificial intelligence (AI)-driven integrated growth solutions. This move was…
Adebiyi: Telecom Industry Driving Nigeria’s Digital Economy and Financial Inclusion
Adekunle Adebiyi, the founder of Whistles Alliance Integrated Services and former Chief Sales and Distribution Officer at MTN Nigeria, shares…
Nigeria’s Inflation Drop Not Reflecting in Goods Prices, Says Economist
In a recent interview, Professor Segun Ajibola, a renowned economist and former president of the Chartered Institute of Bankers, discussed…
Nigeria and Brazil Sign $8 Billion Green Initiative to Boost Agricultural Productivity
On March 17, 2025, Nigeria and Brazil officially launched the commercial phase of the $1.1 billion Green Imperative Project (GIP),…
Bearish Market Opening: Investors Lose N7.8bn as ASI Drops 0.15%
The Nigerian stock market started the week with a bearish performance, as the All-Share Index (ASI) dipped by 0.15%, closing…
Nigeria Partners with Cyberpedia on AI-driven Initiative to Combat Misinformation
The Presidential Office of Digital Engagement and Strategy (PODES) has teamed up with Cyberpedia Internet Governance, an African AI, Data,…
Nigeria’s Inflation Drops to 23.18% Amid Continued Price Pressures
Nigeria’s inflation rate showed a modest decline for the second consecutive month in February 2025, dropping to 23.18% from 24.48%…
Naira Gains 0.95% in Parallel Market as CBN Boosts FX Liquidity
The Central Bank of Nigeria (CBN) has increased FX liquidity, leading to a temporary reduction in dollar demand and allowing…
Bearish Market Trend Continues as NGX Loses N8bn Amid Ongoing Sell-offs
The Nigerian Exchange Limited (NGX) experienced another decline on Monday, shedding N8 billion as market sentiment remained negative. The benchmark…
Rand Merchant Bank Economic Forum Highlights Key Strategies for Navigating Nigeria’s Reform Challenges
Rand Merchant Bank Nigeria (RMB) hosted a high-profile economic forum in Lagos to address Nigeria’s evolving reform landscape. The event,…
FCMB Group Launches ‘The Power of the Group’ Campaign
FCMB Group Plc, a leading financial services holding company, has launched a new thematic campaign, The Power of the Group. At…
Naira Depreciates Amid Global Trade War and Forex Outflows: CBN Intervenes to Boost Supply
The ongoing trade tensions between the United States and several countries, including China and the European Union, have triggered foreign…
Bloated governance thrives as FG sidelines Oronsaye Report
Thirteen months after President Bola Tinubu promised to implement the Steve Oronsaye Report, designed to streamline Nigeria’s governance structure and…