African banks outpace global peers on returns as revenues top $100 billion, McKinsey says
African banking revenues have topped $100 billion for the first time, with profitability well above the global average, McKinsey said, highlighting the sector’s growing economic importance – and its concentration…
Tinubu writes Senate to borrow another $6bn for budget financing, others
President Bola Tinubu is seeking to borrow $5 billion as part of initiatives to finance the budget which is in obvious deficit. In a letter to the President of the…
NASS to Host National Dialogue on Budgeting Reform and Sustainable Economic Growth
The Joint National Assembly Committee on National Planning and Economic Development has announced plans to organise a national dialogue to reform Nigeria’s budgeting system and intensify efforts toward achieving a…
Decade of Gas: Nigeria Targets 12bcfd Supply by 2030, Identifies $22bn Priority Projects
…As FG Tracks 215 Gas Projects to Boost Power Sector, Regional Integration The “Decade of Gas Secretariat” says Nigeria is driving a regional gas ecosystem in West Africa, with a…
FG Unveils Digital Payment and Identity Reports to Boost Nigeria’s Role in $3.5trn AfCFTA Market
The Federal Government on Monday in Abuja unveiled the “Cross-Border Digital Payments and Identity in Nigeria under the African Continental Free Trade Area (AfCFTA) reports. The programme was unveiled by…
AfDB says Africa’s growth risks were tilted to downside even before Iran conflict
The shock of the Middle Eastern conflict to the African economy could be modest, the African Development Bank said on Monday, although it worsens an outlook already weakened by debt burdens,…
Poultry farmers lament egg scarcity, price hike over chicks shortage
Poultry farmers have attributed the current price hike of eggs and scarcity to the shortage of Day-Old-Chicks (DOCs) in the country. The farmers and traders disclosed this in separate interviews…
Nigeria to Deploy 90,000km of Fibre Optic Cable, 4,000 Towers to Close Digital Gap
The Minister of Communications, Innovation and Digital Economy, Bosun Tijani, says the current administration was committed to deepening digital infrastructure through strategic investments, including the planned deployment of 90,000 kilometres of…
Mobile Money Hits $2 Trillion Milestone, but 75% of Accounts Remain Inactive — GSMA
The GSM Association (GSMA) says global mobile money growth is being undermined by rising inactivity and persistent gender gaps, in spite of record-breaking transaction values. The GSMA disclosed this in…
West African oil flows slow as sellers hold cargoes amid Hormuz closure, traders say
West African crude oil trade for April-loading cargoes has slowed, despite shortages caused by the Iran war, as sellers reserve barrels for their own refineries unless particularly high bids emerge,…