Nigeria’s entertainment and media industry is projected to grow to $5.3 billion by 2030, but heavy spending on connectivity raises questions about how much value local content producers, streaming platforms, gaming companies, and digital advertisers can capture as the market expands. The latest Africa Entertainment and Media Outlook 2026–2030 by PricewaterhouseCoopers (PwC) forecasts that Nigeria’s …
Nigeria recorded the world’s largest increase in the number of people living in acute multidimensional poverty between 2021 and 2024. Approximately 17.9 million people have fallen into poverty, as nearly half of the country’s population, or 113.3 million people, now face overlapping deprivations in health, education and living standards. The figures are contained in the …
Nigeria’s trade with the rest of the world has changed significantly over the past year, with the country selling more goods to its African neighbours, finding a major new market for fertiliser in the United States, and sharply reducing its dependence on American imports. The changes, seen in Nigeria’s trade figures from the second quarter …
Nigeria’s economic reforms have pushed state government revenues to record levels, but the gains have yet to translate fully into better living conditions for millions of Nigerians, according to a new analysis by civic organisation BudgIT. The report comes shortly after the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said Nigeria’s …
Nigeria’s 50 per cent telecom tariff increase has delivered a sharp improvement in revenue and profitability for the telecommunications operators, but their spending patterns show a clear difference in how the additional earnings are being deployed. A review of available financial results shows Airtel Nigeria has accelerated network investment, while MTN Nigeria has taken a …
Nigeria's latest Company Income Tax (CIT) figures have exposed a growing imbalance in the economy, with foreign-linked entities contributing significantly more tax revenue than domestic businesses. This worry comes at a time when key productive sectors are showing signs of distress. Data released recently by the National Bureau of Statistics (NBS) showed that total CIT …
When Nigeria returned to democratic rule in 1999, ushering in the Fourth Republic, the average citizen earned far less than today but could afford much more with those earnings. At the time, the gross domestic product (GDP) per capita was estimated at $450, the naira exchanged at around ₦92 to the dollar, petrol sold for …
African startups attracted $1.4 billion in venture capital funding in the first quarter of 2026 despite a sharp decline in deal activity. The surge came despite investors concentrating their bets on a smaller number of established companies, according to a new report by the African Private Capital Association (AVCA) released on Tuesday. The report, Venture Capital …
Escalating tensions between the United States, Israel and Iran have triggered volatility across African equity markets, as investors retreat from risk assets and reposition into safe havens. Markets from Lagos to Johannesburg have recorded sell-offs, cautious trading and sector rotations, driven by surging oil prices, currency pressure and global uncertainty. Brent crude has climbed on …
Warnings of severe flooding in 2026 are casting a spotlight on infrastructure resilience in Edo State, even as the government ramps up spending on roads, bridges and public assets aimed at stimulating economic activity. The Nigerian Meteorological Agency (NiMet) has predicted above-normal rainfall during the 2026 rainy season, identifying Edo as one of the states …
