Author: Ogochukwu Ndubuisi

South African Rand (ZAR) is trading sideways against the dominant US dollar, European single currency and British sterling ahead of economic data scheduled for release on Friday.

President Bola Tinubu says Nigeria has stabilised and is gradually returning to the path of economic recovery and sustainable growth following difficult but necessary reforms undertaken by his administration over the past three years.

The dollar index (DXY) hovered near 99.2 as investors assessed the latest developments in the Middle East and mixed signals over a possible US-Iran agreement that could end the war and reopen the Strait of Hormuz.

The African Development Bank (AfDB) Group has warned that Africa’s trade finance gap could exceed 100 billion dollars again if rising geopolitical tensions and disruptions to global trade and supply chains persist.

The Nigerian community in South Africa says at least 105 Nigerians have been killed in the country over the past seven years, following the wave of xenophobic attacks against migrants.

Global oil prices rally on Thursday on renewed tensions between the United States (U.S.) and the Iranian military over the Strait of Hormuz, despite ongoing peace talks between Washington and Tehran.

Nigeria, Egypt, South Africa Dominate Africa’s Equity Markets — AfDB Nigeria, Egypt, Morocco, and South Africa continue to dominate Africa’s equity markets, according to the 2026 African Economic Outlook released by the African Development Bank (AfDB). The report said Africa’s equity market landscape had expanded significantly over the past two decades. It said that market capitalisation rose nearly six-fold to 1.2 trillion dollars in 2024, representing about 40 per cent of Africa’s Gross Domestic Product (GDP). According to the report, market activities remain heavily concentrated in a few economies, including Nigeria, Egypt, Morocco, and South Africa. The report noted that…

Tax Reforms: ACCI Urges 2-Year Grace Period on Tax Penalties The Abuja Chamber of Commerce and Industry (ACCI) has urged government to suspend penalties on late tax filings until business owners adjust and fully understand new tax laws and systems. Dr Aliyu Hong, Chairman, National Policy Advocacy Centre (NPAC), ACCI, disclosed this in an interview with the News Agency of Nigeria on Wednesday in Abuja. Hong advocated a one or two-year grace period on penalties linked to the new tax laws to allow business owners adjust to compliance procedures. According to him, business owners require time to adapt to Nigeria’s…

Dangote Refinery Ends Nigeria’s Era of Fuel Import Dependence, Boosts GDP, FX Earnings — EIU The operational ramp up of the 650,000 barrels per day Dangote Petroleum Refinery & Petrochemicals is fundamentally reshaping Nigeria’s downstream oil sector, significantly reducing the country’s dependence on imported refined petroleum products and strengthening its external position, according to the Economist Intelligence Unit (EIU). In its latest assessment on Nigeria’s fuel market and regulatory environment, the EIU said the refinery has already transformed a sector that was previously characterised by heavy reliance on imported fuel despite Nigeria being Africa’s largest crude oil producer. The report…

Heirs Insurance Group Opens Entry for 5th Essay Championship for Students, Teachers, Schools Heirs Insurance Group, Nigeria’s fastest-growing insurance group, has opened applications for the fifth edition of its annual Essay Championship, targeted at Junior Secondary School students nationwide. The initiative aims to drive insurance and financial literacy at an early age and to ensure proper insurance education among educators. This year’s edition features N11.5 million prizes for winning students, teachers, and schools, reinforcing the Group’s commitment to driving insurance awareness at an early stage. The winning student will receive a N5 million scholarship along with a N1 million education…