Economy - Page 6

Nigeria’s gospel artists Nathaniel Bassey, Mercy Chinwo, and Moses Bliss have written their names in gold on the global music scene, ranking among the most-streamed Nigerian acts on YouTube Music for the first quarter of 2025. Data compiled by Debut Hub, Nathaniel

The Nigerian naira weakened sharply to ₦1,600 against the US dollar in the official foreign exchange market on Friday—signaling a remarkable shift after holding steady at around ₦1,500 for about three months. The official rate, according to figures published by the Central

The Independent Media and Policy Initiative (IMPI) has described recent comments by Peter Obi, the Labour Party presidential candidate in the 2023 election, on using money to drive economic productivity as not only simplistic but also hollow. The policy group noted that

On Wednesday, US President Donald Trump announced sweeping new tariffs on imports from countries right across the globe to the United States. Here are international reactions so far from the world’s major economies: – China – Beijing said it “firmly opposes” the

Cadbury Nigeria Plc has released its audited financial results for the year ending December 31, 2024, achieving a full-year revenue of N129.1 billion, up from N80.3 billion in the prior year, marking a year-over-year growth of 60.7%. The growth in revenue was

Funding into the African tech ecosystem dropped five percent to $460 million in the first quarter of 2025. According to Africa: The Big Deal, the decline underscored the consistent drop in venture capital funding on the continent, which fell from $486 million

The United States said Tuesday it has approved the possible sale of $5.58 billion in F-16 fighter jets to the Philippines, as Washington backs its ally in rising tensions over China. The State Department said it was green-lighting a sale that includes

Nigeria’s Net Foreign Exchange Reserve (NFER) as of the end of 2024 stood at $23.11 billion, the highest level in over three years, reflecting a substantial improvement in the country’s external liquidity, reduced short-term obligations, and renewed investor confidence. A statement by

President Bola Tinubu on Wednesday, appointed Engineer Bashir Ojulari as the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited. As announced by the Special Adviser to the President (Information & Strategy), Bayo Onanuga, the president had invoked Section

President Bola Tinubu has signed the Investments and Securities Act (ISA) 2024 into law—officially categorizing cryptocurrencies and other virtual assets as securities. This landmark legislation repeals the 2007 Act and brings Virtual Asset Service Providers, Digital Asset Operators and Digital Asset Exchanges

Bullion powered to a record high for a fourth straight session, hitting $3,148.88 per ounce. “On top of general risk aversion, investors are increasing allocation to gold with the Trump administration’s trade policy threatening the dollar’s special reserve status,” said Kyle Rodda,

African airlines recorded a 5.7% year-on-year decline in air cargo demand in February 2025, with capacity decreasing by 0.6% in the same period. Capacity, measured in available cargo tonne-kilometers (ACTK), dropped by 0.4%, although international operations saw a 1.1% increase. The International

OpenAI on Monday says it raised $40 billion in a new funding round that valued the ChatGPT maker at $300 billion, the biggest capital-raising session ever for a startup. The infusion of cash comes in a partnership with Japanese investment giant SoftBank