Economy

The Green Finance Investment Facility (GFiF), a blended finance platform designed to mobilise large-scale private and institutional investment into distributed renewable energy infrastructure across Nigeria, has officially launched with plans to raise $188 million to finance 191 megawatts of distributed solar capacity nationwide. The facility, led by Barton Heyman Limited in partnership with the Rural […]

  Nigeria’s pursuit of inclusive economic growth is being constrained by a widening $6.75 billion financing gap that continues to limit access to capital for women, youths, and persons living with disabilities, stakeholders warned at the 4th Gender Impact Investment Summit held in Lagos on Thursday. The summit, themed “From Commitments to Action: Strengthening Inclusive

Nigeria’s headline inflation rate increased to 15.69% in April 2026, up from 15.38% recorded in March, according to the latest Consumer Price Index report released by the National Bureau of Statistics (NBS). The latest figure reflects renewed consumer price pressures across the economy despite a sharp moderation in month-on-month inflation and a notable decline compared

  Cocoa prices have jumped 24% month-to-date in May on the global commodities market, climbing back above the $4,400-per-tonne level lost during the sharp downturn recorded in January 2026. The recovery began gradually, with the commodity posting mild gains through March and April before bullish momentum strengthened significantly in May. A prolonged selloff that began

  Bharti Airtel has announced plans to consolidate its ownership in Airtel Africa as part of a broader strategy to strengthen its position ahead of a planned initial public offering (IPO) of its mobile-money business. The development was disclosed by Bharti Airtel founder Sunil Bharti Mittal, who said the company is targeting up to 90%

  Key members of OPEC+ are planning to continue a series of gradual oil production quota increases over the coming months, with the objective of fully restoring a previously suspended 1.65 million barrels per day (bpd) output cut by the end of September, at least on paper. The development was reported by Bloomberg on Thursday,

  The National Pension Commission (PenCom) has granted Pension Fund Administrators (PFAs) a special regulatory waiver permitting them to invest pension assets in the upcoming Initial Public Offering (IPO) of Dangote Petroleum Refinery & Petrochemicals FZE (DPRP). The approval, disclosed in a circular dated May 13, 2026, temporarily relaxes several investment restrictions that ordinarily apply

The Nigerian Communications Commission (NCC) has disclosed that Nigerians now consume about 45,800 terabytes of internet data daily, highlighting the country’s accelerating dependence on digital platforms and online services. The Executive Vice Chairman and Chief Executive Officer of the NCC, Aminu Maida, revealed this during the 2026 Workshop for Judges on Legal Issues in Telecommunications

  Olufemi Otedola, chairman of First HoldCo Plc, has increased his stake in the financial services group following a fresh share acquisition valued at approximately N43.41 billion. The transaction, executed on the Nigerian Exchange on May 13, 2026, involved the purchase of 549,535,653 ordinary shares at an average price of N79 per share. This latest

According to data contained in the Financial Market Dealers Association (FMDA) report on Nigeria’s FX market performance for 2025, autonomous inflows surged to $72.91 billion, up from $59.29 billion in 2024 and $41.80 billion in 2023, reflecting a near-doubling of private-sector dollar inflows over a two-year period. The report also showed that total FX inflows