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Economy

CBN Governor Yemi Cardoso Appointed Chairman of Africa Finance Corporation

LAGOS, Nigeria — The Africa Finance Corporation has appointed Central Bank of Nigeria Governor Olayemi Cardoso as chairman of its board of directors. Cardoso succeeds...

Trump Faces Bipartisan Revolt as US Senators Reject Russian Diesel Deal

WASHINGTON, United States — Seven Republican and Democratic senators have challenged President Donald Trump's agreement to import Russian diesel, accusing his administration of disregarding...

Two American Economists Win Nobel Prize for Research on Managing Economic Crises

STOCKHOLM, Sweden — Two American economists, Robert E. Hall and Michael Woodford, have won the 2026 Nobel Prize in Economics for research that transformed...

As Billions Pour Into AI, Bank of England Governor Warns of Market Shocks

LONDON, United Kingdom — Bank of England Governor Andrew Bailey has warned that the surge of money into artificial intelligence could expose financial markets...

G7 to Release 100 Million Barrels From Reserves as Fuel Prices Surge

PARIS, France — Leaders of the Group of Seven have agreed to release 100 million barrels of crude oil and diesel from emergency reserves...

Nigeria Approves Modernisation of Calabar, Onne, Rivers, and Delta Ports

ABUJA, Nigeria — The federal government has approved the modernisation of four additional Nigerian ports, extending an infrastructure programme that already covers the country’s...

Trump Ban on Canadian Whisky, Wine and Beer Takes Effect, but There’s a Way Around It

WASHINGTON, United States — President Donald Trump has imposed an import ban on most packaged Canadian alcoholic beverages, including whisky, wine, beer, vodka, rum...

Nigeria Pursues $1.5 Billion in World Bank Financing as Public Debt Soars to N166.79 Trillion

ABUJA, Nigeria — The federal government is pursuing $1.5 billion in new financing from the World Bank for climate resilience, social protection, and early...

From Consumers to Owners: What the Dangote Refinery IPO Means for Nigeria’s Economic Future

When several Nigerian investment platforms buckled under a rush of applications for shares in Dangote Petroleum Refinery & Petrochemicals, the outages revealed more than...

Tinubu Announces Nigeria’s Victory as ICC Rejects $680 Million Sunrise Power Claim

ABUJA, Nigeria — An International Chamber of Commerce tribunal in Paris has rejected a $680 million claim brought by Sunrise Power and Transmission Company...

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