Tinubu Approves Key Licenses for Kolmani Oil Project to Boost Northern Nigeria’s Energy Sector
President Bola Tinubu has approved the issuance of crucial regulatory licenses for the Kolmani Integrated Development Project, a major oil…
Category: Macroeconomic
DAPPMAN Urges Full Access to Dangote Refinery as NNPCL Refineries Struggle to Produce Petrol
The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has stated that its members are currently unable to source…
Naira Shows Marginal Gains as Exchange Rate Gap Widens, Inflation Eases Slightly
The Nigerian naira ended the week with a slight appreciation against the U.S. dollar, closing at ₦1,599.01/$1 in the official…
FX Market on Edge as BDCs Scramble to Meet CBN’s Recapitalisation Deadline
The Nigerian foreign exchange market is witnessing growing tension as Bureau De Change (BDC) operators rush to meet the Central…
U.S. Credit Downgrade Triggers Market Turmoil: Treasury Yields Rise, Dollar and Stocks Slip
Markets responded sharply after Moody’s downgraded the U.S. sovereign credit rating late Friday, citing concerns over surging deficits and unchecked…
Kaduna Targets Foreign Investment to Tackle Illegal Mining and Drive Green Growth
Kaduna State is actively seeking foreign investment to transform its solid minerals sector, combat illegal mining, and generate jobs. At…
CBN Reduces Federal Government Loans by ₦4.1tn Amid Major Policy Shift
The Central Bank of Nigeria (CBN) significantly reduced its net loans and receivables by over ₦4.1 trillion in 2024, primarily…
Nigeria’s Inflation Rate Eases to 23.7% in April – NBS Report Shows Slight Relief
In a new report released by the National Bureau of Statistics (NBS), Nigeria’s headline inflation rate dropped slightly to 23.71%…
Bank of Ghana Governor Calls for Continental Coordination to Boost Digital Finance and Trade in Africa
Dr. Johnson Asiama, Governor of the Bank of Ghana, has stressed the importance of scaling digital assets and payment solutions…
BoG to Restrict Over-the-Counter Dollar Withdrawals as Cedi Strengthens-Ghana
Ghana’s central bank is stepping up its efforts to protect the cedi’s recent gains by targeting over-the-counter US dollar withdrawals.…
Federal Gov’t Unveils $500m Climate Investment Platform, Targeting Sustainable Infrastructure, Economic Growth
The Nigerian government has launched the Nigerian Climate Investment Platform (NCIP), a pioneering initiative aimed at mobilizing up to $500…
Digital Lending Surge in Nigeria: 425 Licensed Lenders Amid Concerns Over Indebtedness
The number of licensed digital lending companies in Nigeria has surged to 425 as of May 2025, a significant increase…
Development Banks Launch $610M Initiative to Combat Climate Change and Fragility in Africa
The African Development Bank (AfDB) and the Islamic Development Bank (IsDB) have announced a joint $610 million initiative to address…
Tinubu Making Courageous Decisions To Fix Nigeria’s Economy – VP Shettima
Vice President Kashim Shettima praised President Bola Ahmed Tinubu for making courageous and transformative decisions aimed at revitalizing Nigeria’s economy.…
Foreign Investors Withdraw N420bn from Nigerian Stock Market Amid Economic Instability
In the first quarter of 2025, foreign investors pulled out a massive N420.37 billion from the Nigerian Stock Exchange (NGX),…
GUTA President Urges Urgent VAT Reform to Cut Business Costs Ahead of 2025 Budget-GHANA
As someone following Ghana’s business climate closely, I found it striking that the President of the Ghana Union of Traders…
World Bank Flags NNPCL for Withholding Half of Fuel Subsidy Savings
The World Bank has raised a red flag over the Nigerian National Petroleum Company Limited (NNPCL) for remitting only half…
Treasury Yields Dip as Investors Weigh Mild Inflation and Easing Trade Tensions
U.S. Treasury yields edged slightly lower on Wednesday as investors processed new economic data and trade developments. The 10-year Treasury…
Lagos Rakes in Over N1 Trillion in Investments, Sets Sights on 2025 Economic Growth
In a major economic milestone, the Lagos State Government has announced that it attracted over N1 trillion in investments within…
CBN Gears Up for Historic 300th MPC Meeting Amid Signs of Economic Recover
The Central Bank of Nigeria (CBN) is set to hold its 300th Monetary Policy Committee (MPC) meeting on May 19–20,…
NGX Bounces Back with N314 Billion Gain as Investors Hunt for Bargains
The Nigerian Exchange (NGX) saw a strong rebound yesterday, reversing earlier losses as investors took advantage of bargain opportunities in…
European Stocks Stabilize as Dollar Weakens Further Amid Trade Truce and Inflation Data
European stock markets remained steady on May 14, 2025, following a significant rally driven by easing global trade tensions. The…
Abia State Partners with MTN Nigeria to Drive Digital Transformation and Economic Growth
The Abia State Government has signed a Memorandum of Understanding (MoU) with MTN Nigeria to advance its digital transformation strategy.…
World Bank Criticizes Nigeria’s Conditional Cash Transfer Program for Failing to Reach Millions
The World Bank has criticized Nigeria’s conditional cash transfer program, launched by the Federal Government in 2023, for failing to…
Tullow Ghana Resumes Gas Supply to Atuabo After FPSO Technical Glitch
Tullow Ghana has officially resumed gas exports to the Atuabo Gas Processing Plant after addressing a technical issue on the…
Nigerians, others to be affected as US plans 5% tax on remittances
The United States is considering a new bill that could significantly impact Nigerians and other immigrants sending money home. A…
CBN’s Tight Monetary Policy May Cut Inflation to 22.1% in 2025 – World Bank
The World Bank has projected that Nigeria’s inflation rate could drop to an average of 22.1% in 2025, thanks to…
Agriculture Sector Drives Economic Growth in April 2025, Marks 9th Consecutive Expansion
Economic activities in Nigeria experienced consistent growth for the fifth consecutive month in April 2025, with a 52.2 index point…
Nigeria’s External Reserves Hit 8-Month Low Amid Foreign Debt Payments and FX Market Interventions
Nigeria’s external reserves have fallen to their lowest levels in eight months, reaching $37.9 billion by the end of April…
Global Fund Managers Slash Dollar Exposure Amid U.S.-China Trade Thaw
In May, global fund managers marked their most significant retreat from the U.S. dollar since 2006, according to Bank of…