Niger, Mali, Burkina Faso Explore Political and Monetary Alliance, Signal Shift…
Niger, Mali, and Burkina Faso are considering a political and monetary alliance, as announced by Niger’s military…
Nigerian Senate Urges Allocation of 10% Annual Budget Revenue to Agriculture for…
The Nigerian Senate has called on the federal government to allocate a minimum of 10% of the total annual budget…
Nigeria Loses N1.8 Trillion to Import Duty Exemption Certificate (IDEC) in 2023
The Nigeria Customs Service (NCS) has reported that Nigeria lost a significant sum of N1.8 trillion to Import…
Nigeria’s Q3 2023 VAT Collections Surge by 51.6% Year-on-Year, Reaching…
The National Bureau of Statistics (NBS) has reported a remarkable year-on-year increase of 51.6% in Value Added…
Rising Divestment Threatens Nigeria’s Manufacturing Sector as Multinationals…
While President Bola Tinubu seeks new investors to boost Nigeria's economy, recent reports reveal a troubling…
Central Bank of Nigeria Suspends Cash Deposit Processing Fees Amid Lingering Cash…
The Central Bank of Nigeria (CBN) has announced the suspension of processing fees on cash deposits, a move aimed…
Nigerian Manufacturing Sector Faces Severe Forex Losses, Impacting Profits
The manufacturing sector in Nigeria experienced a substantial 400% increase in net foreign exchange losses,…
Foreign Airlines Consider Exiting Nigeria Amid Currency Challenges
There are growing indications that foreign airlines might exit Nigeria's airspace due to a deteriorating…
Dangote Petroleum Refinery Set to Produce Diesel and Aviation Fuel in January…
The Dangote Petroleum Refinery is on track to commence production, with the processing of crude oil expected to…
Moody’s Upgrades Nigeria’s Outlook to Positive, Citing Reform Efforts…
Moody's, a prominent US-based rating agency, has revised Nigeria's outlook from stable to positive, acknowledging…
Nigeria Records N1.54tn Fiscal Deficit in July and August 2023, Despite Improved…
The Central Bank of Nigeria (CBN) has reported that the Federal Government of Nigeria recorded a fiscal deficit…
African Startups Embrace Debt Financing with Over $1.1 Billion Raised in 2023
African startups have increasingly turned to debt financing, raising over $1.1 billion as of November 2023,…
Flutterwave Expands Remittance Dominance with Acquisition of 13 US Payment…
Flutterwave, a prominent payment-focused fintech in Africa, has acquired payment licences for 13 states in the…
Oando Clean Energy (OCEL) Boosts Nigerian Electric Vehicle Efforts with Purchase…
Oando Clean Energy (OCEL), the renewable energy subsidiary of Oando Energy Resources, is supporting the Nigerian…
Implementation Challenges Stalling Gains from Nigeria’s Petroleum Industry…
Despite the enactment of the Petroleum Industry Act (PIA) over two years ago, at least 60% of Nigeria's oil…
Naira Hits Record Low, PIA Implementation Challenges, and Economic Indicators to…
The Nigerian Naira faces a record low in official trading, weakening by 23% to N1,099 per dollar. Meanwhile,…
Economic Intelligence Unit Predicts Naira’s Future, Dangote Refinery Impact,…
The Economic Intelligence Unit (EIU) offers insights into the future of Nigeria's economy, making predictions on…
FCMB Group Reports 75.7% Increase in Gross Revenue for First Nine Months of 2023
FCMB Group, a prominent financial services holding company in Nigeria, has released its financial statements for…
Development Finance Institutions Invest Over $52 Million in Sierra Leone’s…
Development Finance Institutions (DFIs) including British International Investment (BII), FMO, and Proparco,…
U.S. Development Finance Corporation Commits $24 Million Investment in Miro…
The U.S. International Development Finance Corporation (DFC) has pledged a $24 million equity investment in Miro…
Mastercard’s Africa Growth Fund Invests in Three African Investment Firms
Mastercard's Africa Growth Fund is set to invest in three African investment firms, namely Chui Ventures,…
Parliament to Conduct Headcount Vote on Approval of 2024 Budget
Parliament is scheduled to undertake a headcount vote on the approval of the 2024 budget on December 7, 2023. The…
Safaricom Introduces Christmas Campaign Allowing Fuliza Loan Repayment with Bonga…
Safaricom has launched a month-long Christmas campaign, "Sambaza Furaha," which includes unique offers for…
Dangote Refinery Set to Receive First Crude Oil Cargo for Production of Petroleum…
The Dangote Refinery, located on the outskirts of Lagos, is gearing up for the commencement of production as it…
Equinor Sells Nigerian Business, Including Agbami Oil Field Stake, to Chappal…
Norwegian energy company Equinor has completed the sale of its Nigerian business, including its stake in the…
NIBSS Directs Banks to Disconnect Switches, Payment Solution Providers, and Super…
The Nigeria Inter-Bank Settlement System (NIBSS) has issued a directive instructing banks to disconnect Switches,…
Federal Allocation to States and Local Governments Projected to Increase by…
The Federal Government's revenue projections in its Revised 2024 – 2026 Medium-Term Fiscal Framework indicate…
Shale Oil Resurgence Sparks Concerns for Nigeria and OPEC Amid Budget Reliance on…
The resurgence of shale oil production in the United States is causing concerns for Nigeria and other…
Nigerian Students Abroad Face Racism, Struggles, and Resilience in Pursuit of…
Introduction: Nigerian students pursuing education abroad face challenges ranging from racism and hostilities to…
Nigeria’s Economy Records Higher Net Foreign Exchange Inflow Amid Reserve…
Nigeria experienced a higher net foreign exchange (FX) inflow in August 2023, driven by increased autonomous…