Nigeria’s central bank CBN is expected to hold interest rates steady at 27.5% on Thursday, pausing its aggressive tightening cycle following a sharp decline in inflation, driven by a revision in data calculation methods. A Bloomberg poll of nine economists found that seven anticipate the Central Bank of Nigeria (CBN) will maintain the current rate […]
The National Bureau of Statistics (NBS) has announced a decline in Nigeria’s headline inflation rate to 24.48% for January 2025, following the rebasing of the Consumer Price Index (CPI). This marks a decrease from December 2024’s 34.80% under the old inflation template. The CPI rebasing reflects updated consumer spending patterns, replacing outdated goods and services […]
Airtel Nigeria, the country’s second-largest telecommunications operator (Telco) has announced a significant adjustment to its data pricing structure. A check by the News Agency of Nigeria (NAN) using the *312# code and on the Airtel website showed the revised data prices. According to the telco’s website, the revision, which affects various data bundles, is aimed […]
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Asian markets were mixed Tuesday with Hong Kong resuming its tech-led rally after a meeting between President Xi Jinping and China’s top business leaders fanned hopes that a long-running crackdown on the private sector is ending. The Hang Seng Index’s gains extended an impressive start to the year, with the emergence of a new chatbot […]
Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has been urged to reverse the unlawful hike in Automated Teller Machine (ATM) transaction fees with immediate effect. In an open letter dated 15 February 2025 and signed by the organisation’s deputy director, Kolawole Oluwadare, the Socio-Economic Rights and Accountability Project (SERAP) described the […]
The President of Dangote Group, Aliko Dangote, has reaffirmed the conglomerate’s commitment to ending raw sugar importation in Nigeria with an investment exceeding $700 million in sugar production. Dangote, who spoke on Wednesday during the ‘Dangote Special Day’ at the ongoing 14th Gateway International Trade Fair in Abeokuta, Ogun State, said the group is accelerating […]
Nigeria spends about $10 billion annually on raw material imports despite having many of these resources in abundance, the Minister of State for Industry, Trade, and Investment, Senator John Owan Enoh, has revealed. The minister also disclosed that the country loses an estimated $25 billion annually due to the underutilisation of its manufacturing sector, primarily […]
Legal practitioner and a shareholder of MTN Nigeria Communications Plc, Emeka Nnubia, has appealed the judgment of a Federal court in Lagos, on the powers of the Federal Competition and Consumer Protection Commission (FCCPC) to prevent anti-competitive practices. In the judgment delivered on February 7, 2025, the court affirmed the FCCPC’s powers to prevent anti-competitive […]
At 83.2 per cent, Millennials and Gen Zs are increasingly dominating the number of Africans abroad remitting money to the continent. Africa’s leading payments technology company, Flutterwave, revealed that Africans between ages 18 and 34 abroad had increased and had continued to support families at home. This is contained in its Send App 2024 Remittance Industry […]