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South Africa is expected to experience a 40% increase in billionaires, reinforcing its status as Africa's wealth capital. This growth is projected over the next five years, highlighting the country's economic potential.
Nigeria has an installed generation capacity of 13 to 14 gigawatts. Its grid delivers less than half of it. The read more Financing Africa’s power infrastructure in the AI economy: From catalytic capital to infrastructure that earns investment (Part Two of Two)
Nigeria's electricity sector faces a significant setback as the World Bank withdraws $718 million in funding. This decision comes after a joint agreement with the Federal Government.
The United States and Iran have been working on an agreement to end the Middle East war and reopen the crucial waterway to tanker and cargo traffic since a fragile ceasefire on April 8. The post Oil returns to $100 after fresh US strikes on Iran appeared first on Vanguard News.
Despite significant revenue increases driven by aggressive Band A tariff hikes, Distribution Companies (DisCos) remain trapped in a web of read more Why DisCos’ soaring revenue fails to improve power supply
During the engagements, the entertainer unveiled The C.R.E.A.M. Platform 3.0, a digital ecosystem designed to empower African creatives by providing access to recording, video production, distribution, and funding opportunities. The post D’Banj takes C.R.E.A.M. platform to Milk...
Residents in Kaduna are facing economic hardships as ram prices soar to N1 million for Eid-el-Kabir, making it difficult for many families to afford the traditional sacrifice. The situation highlights ongoing challenges related to insecurity and rising costs of living.
The AfDB president highlights that 12 of the world's 20 fastest-growing economies are in Africa. This showcases the continent's economic resilience and promising growth projections.
Nigeria's main issue is not with budget allocation but with the execution of strategies. This recurring challenge highlights the need for effective implementation rather than just optimistic budgeting.
“In March 2026, a pot of jollof rice cost an average of N30,435, up 19.4 per cent from October. The Iran war doubled fuel prices, tripled transport fares, and sent food costs spiralling. Families now swap meat for smoked fish and trek to markets to survive,” the report stated...
Nigeria's housing shortage is expected to escalate to 28 million units, significantly impacting the housing market. Lagos aims to contribute by delivering 14,000 new housing units by 2026.
Lagos traders are worried about low sales and high food prices as Eid-el-Kabir approaches. This year's patronage is notably poor, raising concerns among merchants and consumers alike.
President Bola Ahmed Tinubu emphasized the positive outcomes of his administration's economic reforms during his Sallah address. He stated that the challenging policies implemented over the past three years are starting to benefit Nigerians.
"I am aware that, despite the best efforts of our security and intelligence agencies—including the recent elimination of a wanted ISIS leader—heartless terrorists and bandits still attack some communities." The post In Sallah message, Tinubu touts economic reforms, acknowledg...
The airlines say domestic carriers do not owe the NCAA for regulatory services, insisting payments are made before services are rendered. The post Airline operators reject NCAA debt claims, seek review of ticket charges appeared first on Premium Times Nigeria.
…Decry huge yearly revenue loss due to lack of funding …Lament inability of govt to take advantage of ginger blight read more Delta ginger farmers knock Govt for paying lip service to non-oil sector
The Manufacturers Association of Nigeria (MAN) has expressed concern over the decline in manufacturing in the South-East due to rising energy costs. Many businesses are reportedly shutting down as a result of these financial pressures.
WTI crude prices fell over 5% as investors anticipated a reopening of the Strait of Hormuz. This decline occurred despite recent US military strikes on Iran, indicating shifting market sentiments.
Asian markets and oil prices are experiencing volatility due to uncertainties surrounding a potential US-Iran agreement. The situation remains fluid as efforts continue to broker a deal to stabilize the region.
Nigeria's electric vehicle market is evolving from a climate initiative to a significant industrial opportunity. This shift could lead to substantial economic benefits for the country.
The Nigeria Customs Service at Seme Area Command reported a remarkable 448% revenue increase, generating N9.79 billion in just two months. This surge is attributed to efforts against smuggling, which has been linked to fuel scarcity in the region.
The Niger Delta Power Holding Company has successfully restored operations at the 450MW Alaoji Open Cycle Power Plant in Abia State. This development marks a significant improvement in electricity supply for the region.
Capital importation in Nigeria surged by 182% to $3.37 billion in January, up from $1.25 billion in December. This increase is largely attributed to a rise in foreign portfolio investments in bonds and money market instruments.
Nigeria is currently underperforming in oil production despite a global supply crisis. This situation highlights the country's struggle to capitalize on its oil resources.
The Nigerian naira maintained a stable exchange rate against the US dollar on May 26, 2026. This stability is attributed to ongoing measures by the Central Bank of Nigeria to stabilize the foreign exchange market.
Manufacturers in Nigeria are expressing concerns over a deteriorating operating environment due to high taxes, foreign exchange costs, and insecurity. The Association of Food, Beverage and Tobacco Employers highlights the impact of poor power supply and infrastructure on their businesses.
Manufacturers in Nigeria are transitioning from diesel to natural gas due to soaring energy costs. This shift aims to mitigate rising production expenses and protect profitability in the industrial sector.
Nigeria's GDP growth increased to 3.89% in Q1'26, up from 3.13% in Q1'25. This marks a positive trend in the country's economic performance.
The Naira has depreciated to N1,380 per dollar in the parallel market, down from N1,376 last weekend. This decline highlights ongoing challenges in Nigeria's currency stability.
• Says suspension doesn’t equate waiver or debts forgiveness •Airline Operators: NCAA not owed, condemn ’media regulation’ of operators outside regulatory framework •Threaten to stop collecting passenger service charge for