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Economy

It’s always about the economy, stupid…

Business

Dangote Refinery Raises Alarm on Stiff Opposition Amid Efforts to Lower Nigeria’s Fuel Prices

Manny Akpan | Business & Economy Editor -
LAGOS, Nigeria — Local and international vested interests are allegedly working to thwart the progress of the newly established Dangote Oil Refinery and Petrochemicals,...
Business

Nigeria’s Central Bank Revokes Heritage Bank’s License

Manny Akpan | Business & Economy Editor -
ABUJA, Nigeria — The Central Bank of Nigeria, CBN, has announced the immediate revocation of Heritage Bank Plc's operating license. This decisive action, authorised under...
Economy

National Grid Collapses as Electricity Workers Join Mininum Wage Strike

Manny Akpan | Business & Economy Editor -
LAGOS, Nigeria — Nigeria has been plunged into a nationwide blackout after electricity workers shut down the national grid in compliance with a joint...
Business

Microsoft Pulls Plug in Nigeria, 200 Workers Face Uncertain Future

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

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

Manny Akpan | Business & Economy Editor -
ABUJA, Nigeria - In a determined bid to address the persistent rise in food prices across Nigeria, the Federal Competition and Consumer Protection Commission,...
Economy

Dangote Refinery Slashes Diesel Price to N1,000 Per Litre

Manny Akpan | Business & Economy Editor -
LAGOS, Nigeria - In a significant economic move, the Dangote Petroleum Refinery announced a substantial reduction in diesel prices on Tuesday, April 16, 2024,...
Economy

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

Manny Akpan | Business & Economy Editor -
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...
Economy

Libya Surpasses Nigeria as Africa’s Top Crude Oil Producer

Manny Akpan | Business & Economy Editor -
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...
Business

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

Manny Akpan | Business & Economy Editor -
LAGOS, Nigeria - Aliko Dangote, the chairman of the Dangote Group, expressed confidence that the recent reduction in diesel costs would lead to a...
Business

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

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