As the International Monetary Fund (IMF) releases its updated list of countries with the highest outstanding credit as of August 29, 2025, several African nations dominate the top spots. Egypt, Côte d'Ivoire, and Kenya feature prominently, but one major economy is notably absent: Nigeria, Africa's largest economy. Nigeria fully repaid its $3.4 billion IMF loan …
Guaranty Trust Holding Company Plc (GTCO) has injected ₦365.9 billion into its banking subsidiary, Guaranty Trust Bank Limited (GTBank), to comply with the Central Bank of Nigeria's (CBN) new minimum capital requirement for commercial banks with international authorization. This strategic move has pushed GTBank's share capital from ₦138.19 billion to ₦504.04 billion, surpassing the CBN's …
Agusto & Co., a pan-African credit rating agency, has projected that Nigerian banks' profit before tax (PBT) for 2025 will drop by 19.2 per cent, primarily due to higher impairment charges, reduced foreign exchange (FX) revaluation gains, and regulatory changes. The pan-African rating agency made this known in its latest banking industry report for 2025. …
By Victor Ezeja The proposed return of Petrobras to Nigeria, as discussed during President Bola Tinubu's state visit to Brazil earlier this week, is seen as a significant development with far-reaching implications for Nigeria’s oil and gas industry. This comes five years after it exited joint venture activities in the country. The deal is part of broader …
The United Kingdom Nigeria Infrastructure Advisory Facility (UKNIAF), in collaboration with the Nigerian Governors’ Forum (NGF), has concluded a major national initiative aimed at advancing state-led electricity market reforms. The initiative, known as the State Learning Workshop Series, focused on key aspects of electricity market development, Integrated Resource Planning (IRP), and energy modelling software, with …
PwC Nigeria has projected Nigeria's Gross Domestic Product (GDP) to grow by 3.4 per cent in 2025, building on the 2.7 per cent growth recorded in 2024. This growth is primarily supported by higher crude oil production and strengthened performance in key sectors, including finance & insurance, ICT, construction, and real estate. Nigeria's recent GDP …
The Alliance for Economic Research and Ethics LTD/GTE has issued a strong call for clarification from the Nigerian government regarding its recent ban on the export of raw shea nuts. In a strategic move aimed at maximising the potential of Nigeria’s shea industry, President Bola Ahmed Tinubu announced a six-month ban on the export of …
In a strategic move aimed at maximising the potential of Nigeria’s shea industry, President Bola Ahmed Tinubu announced a six-month ban on the export of raw shea nuts. This bold decision, effective immediately, is designed to curb the export of unprocessed shea, encourage local processing, and position Nigeria to capture a larger share of the …
Nigeria’s external reserves have been projected to reach $45 billion by the end of 2025, bolstering efforts by the Central Bank of Nigeria (CBN) to stabilise the naira and pave the way for economic growth. This comes as external reserves have recorded a steady rise in recent times, reaching $41 billion on Tuesday, August …
Victor Ezeja The Manufacturers Association of Nigeria (MAN) has opposed the Nigeria Customs Service (NCS)'s recent reintroduction of a 4 per cent Free on Board (FOB) charge on imports, which took effect on 4 August 2025. This levy, which is applied to the total value of goods before shipment, has sparked significant concern due to its potential to …
