Consumer Group Urges Caution on Proposed Electricity Tariff Increase, Citing Power Supply Issues
A consumer group, the Nigeria Consumer Protection Network (NCPN), has voiced its concerns over the Federal Government’s plans to increase…
Category: Macroeconomic
European Stocks Hit Record Highs; Siemens Soars While FTSE 100 Falls
European stock markets continued their upward trajectory on Thursday, buoyed by strong corporate earnings and economic data. The Stoxx 600…
Nigeria Becomes Afreximbank’s Largest Beneficiary with $52 Billion Disbursement
Nigeria has emerged as the largest beneficiary of the African Export-Import Bank (Afreximbank) with a cumulative disbursement of approximately $52…
GHS 1.3bn Embezzlement Scandal at NPA Triggers Calls for Petroleum Tax Cuts in Ghana
The recent GHS 1.3 billion embezzlement scandal at the National Petroleum Authority (NPA) has intensified calls for a reduction in…
House of Representatives Passes Four Tax Reform Bills for Second Reading
The House of Representatives has passed four significant tax reform bills for second reading, marking an important step toward overhauling…
Tinubu Hails $50M IFC Investment in Lagos Free Zone
President Bola Tinubu expressed his appreciation for the International Finance Corporation’s (IFC) $50 million equity investment in the Lagos Free…
External Influences and Internal Struggles Hinder ECOWAS’ Aspirations– Prof. Otubanjo
The Economic Community of West African States (ECOWAS) has faced significant challenges in achieving its core objectives, not only due…
Trump’s Trade Advisers Finalize Plans for Reciprocal Tariffs Amid Growing Trade War Concerns
Former U.S. President Donald Trump’s trade advisers are in the final stages of preparing reciprocal tariffs, which could soon be…
CBN Scraps Free ATM Withdrawals, Introduces New Charges: Bank Customers Express Concerns
In a recent move by the Central Bank of Nigeria (CBN), the institution has announced the scrapping of free ATM…
Nigeria’s Economic Reset: The Crucial Role of Data Integrity in National Recovery
Nigeria is currently navigating an economic reset to address the persistent challenges it faces, including sluggish growth, high inflation, and…
Telecom Tariff Hike: House of Reps Demands Reversal Amid Economic Concerns
The long-awaited 50% tariff increase by Nigerian telecommunications operators has officially begun, following approval from the Nigerian Communications Commission (NCC).…
Senate Proposes N10bn for Capital Market Awareness to Boost Investor Participation
In a recent proposal, the Nigerian Senate suggested allocating N10bn to fund investor education in the capital market as part…
Global Stocks Dip Amid U.S. Tariff Hike and Economic Outlook Concerns
Global stock markets experienced a decline on Tuesday as investors reacted to the implications of newly introduced U.S. tariffs and…
Trump Imposes 25% Tariffs on Steel and Aluminium Imports to Boost U.S. Manufacturing
President Donald Trump has announced the imposition of a 25% tariff on steel and aluminium imports into the United States,…
NAICOM’s Reform Plans to Strengthen Nigeria’s $1 Trillion Economy
The Commissioner for Insurance and CEO of the National Insurance Commission (NAICOM), Mr. Olusegun Omosehin, outlined plans for institutional reforms…
Dangote Refinery Set to Reach Full Capacity in 30 Days, Boosting Nigeria’s Economic Recovery
Nigeria’s Dangote Refinery, the largest in Africa, is set to operate at full capacity within the next 30 days, as…
CBN Facilitates $5.63 Billion in International Payments Amid Economic Challenges in 2024
The Central Bank of Nigeria (CBN) facilitated $5.63 billion in international payments during the first nine months of 2024, marking…
Ghana’s IMF Talks Focus on Tax Cuts, Energy Debt, and Fiscal Reforms for 2025 Budget
The ongoing discussions between the Ghanaian government and the International Monetary Fund (IMF), running from February 10 to February 14,…
COMAC Demands Independent Audit of Gold-for-Oil Program Amid Financial Concerns-GHANA
The Chamber of Oil Marketing Companies (COMAC) is urging for an independent audit of the Bulk Energy Storage and Transportation…
Naira’s Strong Rally Disrupts FX Market Amid Dollar Sell-off and Reform Uncertainty
The Nigerian naira has seen a notable appreciation, catching traders in the foreign exchange (FX) market off-guard, particularly within the…
Nigerian Stock Market Dips as Zenith Bank Leads Profit-Taking Activity
The Nigerian stock market opened the week on a mixed note, with the All-Share Index (ASI) declining by 0.04% due…
US-China Tariff Dispute Threatens to Worsen Nigeria’s Trade Deficit with China
The ongoing tariff war between the United States and China is predicted to negatively impact the Nigerian economy, particularly worsening…
Nigeria Set to Benefit from $4.4 Billion Investment in Agro-Industrial Zones
The African Development Bank (AfDB) has announced a significant $4.4 billion investment aimed at expanding the Special Agro-Industrial Processing Zones…
Nigeria’s Crude Oil Production Costs Spark Concerns as Expenditures Soar to N18tn Annually
Nigeria is facing growing concerns over the high cost of crude oil production, with industry experts warning that the country…
Trump says tariffs coming on steel and aluminium
President Donald Trump has revealed plans to impose a 25% tariff on all steel and aluminium entering the United States.…
Ghana Government rejects GHS 2.9bn in T-Bill offers
The Ghanaian government has rejected GHS 2.9 billion in Treasury bill bids following a significant over-subscription of 40.5% during its…
IFC invests $50 million in Lagos Free Zone to boost Nigeria’s industrial growth
The International Finance Corporation (IFC) has pledged a $50 million equity investment in the Lagos Free Zone (LFZ) to support…
CBN Unveils New Inflation Targeting Framework to Tackle Economic Challenges
The Central Bank of Nigeria (CBN) has initiated a new phase in combating inflation, implementing an inflation targeting framework designed…
Baxter: Nigeria-UK Trade Now £7.5bn, Bilateral Trade Priority for Both Countries
The trade volume between Nigeria and the United Kingdom has soared to £7.5 billion, as revealed by Jonny Baxter, the…
Imported Inflation: Nigeria’s Struggle for Price Stability
Muhammad Abdullahi, a member of Nigeria’s Central Bank Monetary Policy Committee (MPC), highlighted the challenges posed by imported inflation on…