By Esther Ososanya Africa’s richest man, Aliko Dangote, has delivered a sobering warning to the continent’s leaders: Unless powerful fuel import interests are confronted head-on, no new refinery will ever be built again in sub-Saharan Africa. Speaking at the Global Commodity Insights Conference in Abuja, the billionaire industrialist declared that entrenched rent-seeking, offshore fuel cartels, …
By Esther Ososanya Dealmaking in the U.S. upstream oil and gas sector dropped sharply in Q2 2025. Investor caution increased as energy and equity markets turned volatile. Merger and acquisition (M&A) deals fell by 21%, totalling just $13.5 billion between April and June. This slump contrasts sharply with recent performance. In 2023, the sector recorded …
Nigeria’s recent GDP rebasing has highlighted a significant shift in its economic structure. Real estate has surpassed oil, now standing as the third-largest contributor to the Nigerian economy, replacing crude oil's historic dominance. This change reflects a broader diversification within the country's economy, with real estate now contributing a notable share alongside agriculture and the …
The Securities and Exchange Commission (SEC) has declared the rising wave of Ponzi schemes in Nigeria a national emergency, warning that the proliferation of unregulated investment platforms is not only wiping out life savings but threatening the country’s economic and social stability. “Ponzi schemes have become a dangerous epidemic,” says Dr Emomotimi Agama, Director-General of …
With Nigeria set to roll out its long-awaited open banking policy in August 2025, hopes are high, but so are concerns. The question on the lips of everyone is this: will this digital shift finally bring financial services to over 38 million unbanked Nigerians? Or will it widen the gap between those online and those …
Philippine President Ferdinand Marcos Jr is set to visit the United States next week in a strategic push to deepen economic and security cooperation amid rising trade tensions and regional security threats. The high-stakes trip, his first to the U.S. since Donald Trump’s return to office, comes as Washington raises tariffs on Philippine exports to …
By Esther Ososanya The Secretary General of the African Continental Free Trade Area (AfCFTA), Wamkele Mene, has called for urgent action to unlock the power of digital trade across the continent. Speaking at a side event during the 32nd Afreximbank Annual Meetings in Abuja, Mene described digital trade as one of the most promising tools …
By Esther Ososanya The Executive Secretary of the National Sugar Development Council (NSDC), Mr. Kamar Bakrin, has announced an aggressive strategy to remove longstanding obstacles frustrating sugar self sufficiency in Nigeria. Addressing stakeholders at a tripartite meeting involving the Ministry of Industry, Trade and Investment, and major operators of the Backward Integration Programme (BIP), Bakrin …
Sunday Michael Ogwu A new directive from the Securities and Exchange Commission (SEC) has triggered anxiety across Nigeria’s capital markets, as operators scramble to understand the scope and implications of newly imposed tenure limits for directors of Capital Market Operators (CMOs). In a circular released last Friday, the SEC announced that directors of CMOs …
The Federal Government has reaffirmed its commitment to tackling Nigeria’s infrastructure challenges through bold, transparent partnerships with the private sector. President Bola Ahmed Tinubu, represented by Vice President Kashim Shettima, made the call while declaring open the 2025 Nigeria Public Private Partnership (PPP) Summit in Abuja. Organised by the Infrastructure Concession Regulatory Commission (ICRC), the …
