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 …
Nigeria's next growth phase will be driven by states and private capital rather than federal spending alone, Minister of Finance and Coordinating Minister of the Economy Taiwo Oyedele said as he outlined the government's strategy to attract investment, deepen fiscal reforms and unlock projects across the country. Speaking at the Invest Lagos 3.0 Governor's Investment …
Nigeria recorded a sharp improvement in its foreign trade position in the first quarter of 2026 as exports increased and imports fell significantly. This helped it to post a 341 per cent merchandise trade surplus of ₦7.55 trillion, according to the report by the National Bureau of Statistics (NBS). In its Foreign Trade in Goods Statistics …
Nigeria's money market is witnessing one of its strongest waves of investor demand in recent years as the Central Bank of Nigeria's (CBN) aggressive Open Market Operations (OMO) strategy continues to attract both foreign and domestic capital, reinforcing the naira while tightening its grip on liquidity conditions. According to Cordros Securities' Weekly Economic and Market Update: …
The federal government, through the Ministry of Finance, has approved payments to more than 1,240 local contractors, a move aimed at injecting immediate liquidity into indigenous businesses and reinforcing the government’s commitment to meeting its financial obligations. The approval was granted by the minister of finance and coordinating minister of the economy, Mr Taiwo Oyedele, …
Nigeria's biggest lenders—First HoldCo, United Bank for Africa (UBA), Guaranty Trust Holding Company (GTCO), Access Holdings, and Zenith Bank, collectively known as FUGAZ—significantly expanded credit to the manufacturing sector between 2021 and 2025, making it one of the most important destinations for bank lending outside the oil and gas industry. However, a closer look at …
The Nigeria Consumer Credit Corporation (CREDICORP) says it has facilitated ₦43.25 billion in consumer credit across the country while maintaining a zero non-performing loan record. In its latest newsletter, the corporation said the credit expansion was delivered through 35 participating financial institutions and has reached over 230,000 beneficiaries nationwide. According to the report, women account …
Efforts by the Securities and Exchange Commission (SEC) to tackle Nigeria's longstanding unclaimed dividend problem are facing renewed scrutiny as investors continue to complain about difficulties recovering their money, even as the value of unclaimed dividends in the capital market has climbed to ₦215 billion. The development raises questions about whether reforms introduced over the …
Nigeria's fiscal position remains under severe pressure despite improved non-oil revenue performance, with debt servicing consuming 44.3 per cent of federal government revenue in the third quarter of 2025. The Alliance for Economic Research and Ethics raised the concern in its assessment of the Federal Government's 2025 third-quarter budget implementation report, released recently — eight …
President Bola Tinubu's administration entered the third quarter of 2025 with a promise to stabilise the economy, boost growth and invest heavily in infrastructure. On the surface, some of the numbers appear encouraging. Economic growth strengthened, inflation slowed sharply, and non-oil revenue collections exceeded expectations. Beneath those positive indicators, however, the government's budget implementation report …
