Nigeria’s external reserves have witnessed a surge in recent times, reaching a seven-year high of $46.7 billion as of November 14. According to the Central Bank of Nigeria (CBN), the figure can provide 10.3 months of import cover in goods and services. The CBN Governor, Olayemi Cardoso, hinted at this at the 20th Anniversary of …
Nigeria’s crude oil production recorded a slight increase from 1.401 million barrels per day (bpd) in October to 1.436 million bpd in November 2025. This reflects a 35,000 bpd month-on-month increase. This is according to the Organisation of Petroleum Exporting Countries (OPEC) Monthly Oil Market Report (MOMR) released on Thursday, December 11. OPEC said the …
Aliko Dangote, the President of Dangote Industries Limited, has unveiled a landmark plan to list a 10% stake in his $20 billion refinery on the Nigerian Exchange (NGX) in 2026. Dangote further announced that the company is currently in discussions with market regulators to facilitate future dividend payouts in US dollars, offering a hedge against …
As Africa’s political and regulatory dynamics continue to evolve, businesses and investors must strategically navigate the continent’s complexities to seize opportunities in 2026. From shifting governance to regulatory transitions, understanding the political landscape is crucial for success. According to Adjoa Adjei-Twum, President & CEO of EBII Group Corp, "Africa’s political environment remains central to investment …
Fresh controversy has trailed the detention of former Minister of Labour and Employment, Dr Chris Ngige, as the Economic and Financial Crimes Commission (EFCC) continues its sweeping probe of key officials who served under the administration of the late former President Muhammadu Buhari. Initial reports on Wednesday suggested that Ngige had been abducted, sparking public …
The use of Compressed Natural Gas (CNG) as an alternative fuel is believed to be cost-effective and aligns with the global transition to clean energy agenda, but issues around conversion cost and availability of CNG have hindered the adoption in Nigeria. Nigeria holds the largest natural gas reserves in Africa and ninth in the world, …
A new study has raised warnings of an alarming surge of Technology-Facilitated Gender-Based Violence (TFGBV). The study conducted by the pan-African organisation, Paradigm Initiative (PIN), shows 67 per cent of respondents being victims of at least one or multiple forms of digital violence. It was released on Wednesday, December 10, as the world marked International …
Nigeria slid to 18th position in Rand Merchant Bank’s (RMB) Where to Invest in Africa index (WTIIA) report for 2025/2026. The report, themed 'From Aid to Investment and Trade, offered insights into the continent’s top investment prospects. “The country’s precipitous fall from 9th to 18th in the WTIIA rankings suggests that the term ‘wahala’ has …
President Bola Tinubu has set up a committee to resolve the ₦1.5 trillion backlog owed to 2,000 contractors. The Special Adviser on Information and Strategy, Bayo Onanuga, briefed state house correspondents after the Federal Executive Council meeting in Abuja on Wednesday, December 10. He said the President was “upset” after learning that about 2,000 contractors …
The Economic Community of West African States (ECOWAS) has declared a state of emergency across the region following escalating political instability and security threats in member states. The announcement was made on Tuesday by ECOWAS Commission President Omar Touray during the 55th Session of the Mediation and Security Council at the ministerial level in Abuja. …
