Abuja, Nigeria – June 26, 2025 – Nigeria has emerged as West Africa’s top performer in intra-African trade, recording a substantial $18.4 billion in trade volume with other African countries in 2024, according to the 2025 African Trade Report released by the African Export-Import Bank (Afreximbank). This figure represents a remarkable 127% increase from the
WASHINGTON, D.C. — The President of the African Development Bank Group (AfDB) has been awarded the Distinguished Economic Leadership Award by the United States Corporate Council on Africa (CCA), in recognition of his transformative contributions to economic development across Africa and his global leadership in advancing sustainable growth on the continent. The prestigious honour was
ABUJA — Nigeria’s total public debt has surged to a historic high of ₦144.67 trillion in 2024, representing a sharp increase from ₦97.34 trillion recorded in 2023, according to newly compiled figures tracing the country’s debt trajectory since 2010. However, the dollar equivalent of the debt load fell to $97.75 billion, down from $150.68 billion
UMUAHIA — Governor Alex Otti of Abia State is set to officially flag off the construction of the Abia Medical City, a landmark $1.3 billion healthcare infrastructure project, in early July 2025. The initiative is designed to transform the state into a premier hub for medical excellence and reverse the growing trend of outbound medical
ABUJA — The Central Bank of Nigeria (CBN) has attributed the delay in the commencement of a critical ₦85 billion healthcare infrastructure project to ongoing litigations initiated by the Nigeria Governors Forum (NGF) and other unnamed “interlopers.” The CBN said the project, which aims to establish 774 functional healthcare centres across each Local Government Area
LAGOS — Operators in the Bureau De Change (BDC) sector have raised concerns over the presence of what they describe as an “extremely large volume of unaccounted foreign exchange liquidity” circulating within Nigeria’s financial system. They insist that the forex market is being significantly influenced by unofficial inflows, which continue to distort pricing and undermine
LAGOS — Global cocoa prices dipped below the $9,000 per metric ton threshold this week, following months of record-breaking surges driven by supply chain disruptions and climate-related output declines in major producing countries. As of Tuesday, June 25, 2025, cocoa futures on the Intercontinental Exchange settled at $8,875 per ton, marking a significant retreat from
LAGOS — In a renewed effort to attract more subscribers and expand its market share, MultiChoice Nigeria has slashed the price of its DStv HD decoder bundle by 50%, reducing the cost from ₦18,600 to ₦9,300. The announcement, made on Tuesday, June 25, 2025, is part of a broader customer acquisition drive aimed at making
ABUJA — In a landmark step towards deepening economic ties, the Federal Republic of Nigeria and the United States of America have officially launched the Commercial Investment Partnership (CIP), aimed at unlocking new avenues for trade, investment, and private-sector collaboration between both nations. The initiative was formally unveiled on Tuesday, June 25, 2025, during a
The Federal Competition and Consumer Protection Commission (FCCPC) has announced plans to arraign MultiChoice Nigeria Limited, its Chief Executive Officer John Ugbe, and key Pay‑TV directors at the Federal High Court in Lagos. They face allegations of impeding an ongoing probe into their decision to raise subscription prices for DStv and GOtv services—despite a clear
