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Economy

Microsoft Pulls Plug in Nigeria, 200 Workers Face Uncertain Future

LAGOS, Nigeria - Microsoft is reportedly considering shutting down its African Development Centre (ADC) in Lagos, Nigeria. This decision has sent shockwaves through the local...

Naira’s Revalution: Consumer Protection Commission Investigates Soaring Food Prices

ABUJA, Nigeria - In a determined bid to address the persistent rise in food prices across Nigeria, the Federal Competition and Consumer Protection Commission,...

Dangote Refinery Slashes Diesel Price to N1,000 Per Litre

LAGOS, Nigeria - In a significant economic move, the Dangote Petroleum Refinery announced a substantial reduction in diesel prices on Tuesday, April 16, 2024,...

Nigeria’s Central Bank Reveals Depleting Foreign Reserves is Due to Debt Servicing

Washington DC, USA - During the ongoing International Monetary Fund/World Bank Spring Meetings in Washington D.C., Central Bank of Nigeria Governor, Olayemi Cardoso, addressed...

Libya Surpasses Nigeria as Africa’s Top Crude Oil Producer

TRIPOLI, Libya - Libya has overtaken Nigeria as the continent's highest crude oil producer. According to the latest data from the Organization of Petroleum Exporting...

Dangote Predicts Diesel Price Cut to Drive Down Nigeria’s Inflation Rate

LAGOS, Nigeria - Aliko Dangote, the chairman of the Dangote Group, expressed confidence that the recent reduction in diesel costs would lead to a...

The Next Tech Frontier: Microsoft Projects AI to Power $1.2 Trillion African Boom

LAGOS, Nigeria - In a recent presentation at the African AI Journalists Academy, Microsoft projected a significant economic boon for Africa through Artificial Intelligence...

Nigeria Imposes Staggering $10 Billion Fine on Binance over ‘Impact on Forex Crisis’

ABUJA, Nigeria - The Nigerian federal government has levied a staggering $10 billion fine against the cryptocurrency trading platform Binance, accusing it of exacerbating...

CBN Clears Entire Foreign Exchange Backlog for Foreign Airlines

ABUJA, Nigeria - The Central Bank of Nigeria, CBN, has achieved a significant milestone in its financial operations by completely settling the foreign exchange...

‘We Can’t Just Fix Nigeria’s Economic Woes’ – CBN Governor Cardoso Declares 

ABUJA, Nigeria - In a candid acknowledgement of the Central Bank of Nigeria's (CBN) limitations, Governor Yemi Cardoso has admitted the bank's inability to...

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