Gencos Urge Urgent Meeting with Tinubu Over ₦4.7tn Power Sector Debt
Electricity generation companies (Gencos) are pressing for an immediate meeting with President Bola Tinubu over the massive ₦4.7 trillion debt…
Category: Macroeconomic
Nigeria Poised to Surpass IMF’s 3% Growth Forecast for 2025, Say Market Experts
Despite the International Monetary Fund (IMF) projecting Nigeria’s economy to grow by 3.0% in 2025—a slight revision from its earlier…
FG Charts Path to 7% Economic Growth: EMT Strategizes Inclusive Reforms for National Development
The Federal Government has tasked the Economic Management Team (EMT) with designing a strategic roadmap aimed at achieving a 7%…
Nigeria Joins Asian Infrastructure Investment Bank to Boost Growth, Infrastructure, and Investor Confidence
Nigeria has officially become a full member of the Asian Infrastructure Investment Bank (AIIB), following the Federal Executive Council’s (FEC)…
Naira Strengthens to ₦1,600/$ in Parallel Market Amid Modest FX Gains
The Nigerian naira appreciated to ₦1,600 per U.S. dollar in the parallel market as of Monday, May 6, 2025, marking…
Oil Prices Plunge to Four-Year Low as OPEC+ Fast-Tracks Output Hikes
Oil prices took a sharp dive on Monday, slumping to levels not seen since early 2021. Both Brent crude and…
Nigeria’s FX Inflows Dip 5.7% in April Amid Global Trade Tensions, Weak Foreign Investor Sentiment
Nigeria’s foreign exchange market took a hit in April as total FX inflows fell by 5.7% month-on-month, dragged down by…
BoG Injects $20M to Support 11 BDCs, Stabilize Cedi and Fuel Supply-GHANA
In a bid to steady the cedi and keep fuel prices in check, the Bank of Ghana (BoG) has pumped…
Nigeria Faces Economic Crisis as Oil Prices Dip Below $60, Threatening Fiscal Stability and the Naira
Nigeria is facing a dual economic crisis as Brent crude oil prices plummet below $60 per barrel, sparking fears of…
Trump Cuts $500M from African Development Bank, Deepening Africa’s Financial Strain
The Trump administration’s proposed 2026 budget includes a significant reduction in U.S. support for the African Development Fund (ADF), which…
Enugu Unveils Bold Mining Reforms to Protect Lives and Empower Host Communities
In a major move to overhaul the mining sector, the Enugu State Government has launched new regulations aimed at formalizing…
CBN Spends N315 Billion on Currency Management Amid Cash Crisis in 2024
In 2024, the Central Bank of Nigeria (CBN) faced a staggering 305.7% increase in currency management costs, rising from N77.67…
Trade Tensions Shake Oil Market, Pressure Naira as Economic Worries Deepen
Global oil markets faced renewed turbulence in April as heightened trade tensions—particularly between the United States and China—sparked a sharp…
Petrol Landing Cost Surpasses Dangote Refinery Price, Fuel Importers Struggle with Profit Margins
The landing cost of Premium Motor Spirit (PMS), or petrol, has now reached an average of N870 per litre, surpassing…
AfDB Approves $650 Million Annual Commitment for Nigeria’s Economic Growth
The African Development Bank (AfDB) has officially approved a new Country Strategy Paper (CSP) for Nigeria, covering the period from…
Mahama Vows Ghana Will Complete IMF Programme On Time Without Extension
President John Dramani Mahama has affirmed that Ghana will conclude its $3 billion Extended Credit Facility programme with the International…
Fitch Solutions Maintains Ghana’s 2025 Growth Forecast at 4.2% Amid Global Economic Headwinds
Fitch Solutions has maintained its projection that Ghana’s economy will grow by 4.2% in 2025, slightly outpacing the International Monetary…
FG Launches E-Invoicing Committee to Combat Tax Evasion and Boost Revenue
The Federal Government has inaugurated the National Electronic Invoicing Inter-Agency Steering Committee to oversee the deployment of a new digital…
Nigeria Moves to Update Telecom Law to Match AI, 5G, and Digital Economy Realities
Nigeria is finally taking concrete steps to bring its telecommunications laws up to speed with today’s tech-driven world. The Nigerian…
Dollar based financing no longer sustainable for startups
At the 21st Annual Africa Venture Capital Association (AVCA) Conference, West African venture capitalists emphasized that dollar-based financing is no…
World Bank: Global commodity prices to drop to six-year low by 2026
The World Bank has sounded the alarm over falling global commodity prices, forecasting a steep 12% decline in 2025 followed…
Stockpiling ahead of tariffs likely hurt US economy in the first quarter
The U.S. economy likely came to a near standstill, or even slipped into contraction, during the first quarter of 2025,…
NGX Sheds ₦116bn as Profit-Taking Drags Market Down
The Nigerian Exchange (NGX) closed Tuesday, April 29th, on a bearish note as investors cashed out profits from major stocks…
Local and International Capital Providers Key to Nigeria’s Economic Growth, Says NGX CEO
At the 21st Annual AVCA Conference and VC Summit in Lagos, Temi Popoola, the Group Managing Director/CEO of the Nigerian…
IMF Flags Ghana’s Energy Sector as Top Economic Risk, Urges Reform
The International Monetary Fund (IMF) has strongly backed Ghana’s Finance Minister’s warning that the country’s energy sector represents the biggest…
Naira Shows Resilience Despite Declining Reserves, Backed by CBN Reforms and Investor Confidence
Despite a noticeable decline in Nigeria’s external reserves, the naira has held steady in both official and parallel markets, signaling…
UK’s Manufacturing Africa & TLG Capital Launch $200M Fund to Boost Nigerian Manufacturing Sector
In a move to inject fresh capital into Nigeria’s manufacturing sector, the UK government’s Manufacturing Africa program has partnered with…
Nigeria’s Debt Servicing Surges to N696bn in January, Outpaces Revenue by 144%
Nigeria’s fiscal crisis deepened in January 2025 as the Federal Government spent a staggering N696.27bn on debt servicing, an amount…
CNBC Daily Open: U.S. consumers are starting to feel the pinch of Trump tariffs
U.S. consumers are increasingly feeling the economic consequences of President Donald Trump’s tariffs, with price hikes and potential supply shortages…
Stocks Steady, Dollar Firms as U.S. Eases Auto Tariffs Amid Market Jitters
Markets opened Tuesday on a cautious yet slightly positive note after the U.S. announced a softening of auto tariffs, easing…