Many African countries have been able to retain the value of their currencies in the face of multiple economic challenges including inflation, political changes, and the dynamics of foreign markets. Strong currencies reflect fiscal policy,…
Russia-Africa summit boosts economic promises amid geopolitical tensions
The Russia-Africa summit, held amid the ongoing geopolitical crisis between Russia and Ukraine, ended last week with promises of debt relief and food supplies to strengthen economic ties between Moscow and the African nation. As…
$4.6 billion facility in South Africa to produce…
Ammonia, which is made up of nitrogen and hydrogen, is commonly used as a fertilizer. Production of ammonia at an industrial scale allowed agriculture to boom, and according to a study from the University of Manitoba, without it, we wouldn’t be…
Singapore strengthens economic ties with Africa, aims to…
The number of Singaporean companies doing business in Africa has soared from only 60 in 2018 to more than 155 companies today, which demonstrates that the wealthy city-state increasingly views Africa as a very important market…
Vladimir Putin commits to free grain supply to…
Vladimir Putin, the current president of Russia, has promised free grain supplies to six African nations after the collapse of the Black Sea grain deal. Despite Western sanctions limiting Russian exports, the Russian president pledged…
BRICS nations forge strong security ties at the…
According to the Minister in the Presidency responsible for the State Security Agency, Khumbudzo Ntshavheni, senior national security officials from South Africa, China, Russia, India, and Brazil were scheduled to advance, among other things, their…
Nigerian Govt Earns N80.86 Billion From Electronic Transfer…
The Nigerian government earned N80.86 billion. In the first six months of 2023 from the Electronic Transfer Levy (EMT). The EMT was introduced as a replacement for Stamp Duty and charges a single fee of…
Petrol Reaches N617 Per Liter As NNPC Increases…
The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of petrol, from N537 to N617 per liter. The pump price of petrol is also known as Premium Motor Spirit (PMS). This adjustment…
Why Did CBN Threaten To Close Several Accounts?…
The Central Bank of Nigeria (CBN) has threatened to close several accounts in order to protect customers' bank accounts and enhance security in the banking system. The move comes as the CBN aims to ensure…
Funke Akindele Gets Criticism On Threads, For Her…
Nollywood actress Funke Akindele recently found herself in the midst of online controversy, this time on Mark Zuckerberg's newly launched social app, Threads. The talented film star posted about her love for fashion, specifically showcasing…
Zenith Bank Raises Withdrawal Limit To N200,000 Per…
Nigeria's deposit money banks have increased the daily ATM withdrawal limit to N200,000 per day. Zenith Bank, one of the top banks in the country, announced the revised transaction limits, allowing customers to withdraw up…
Vehicle Owners Have To Pay N1,000 Every Year…
The Federal Government of Nigeria has introduced a new policy that requires vehicle owners to pay an annual fee of N1,000 for a Proof of Ownership Certificate. This means that vehicle owners now have an…
The China-Africa Trade Expo proved successful
The third China-Africa economic and trade exhibition, which took place in the city of Changsha on Sunday and had the subject of "common development for a shared future," came to a close with the signing…
Botswana signs new diamond sales deal with De…
Botswana, a landlocked country in Southern Africa, and De Beers, the world's leading diamond company, have signed a new diamond sales deal. The government of Botswana and the diamond mining company De Beers Diamond Consortium…
China – Africa Trade Soars, Two Decades of…
Trade between China and Africa has shown a rapid and positive development trend, reaching new heights growing to $260 Billion in 2022 from less than $13 Million in 2000. China’s total import and export volume…
CBN Sets Limit On Online Transactions And Contactless…
The Central Bank of Nigeria (CBN) has introduced new guidelines and restrictions on contactless payments in the country. In two circulars issued by the CBN's Director of Payments System Management Department, the bank outlined measures…
Cooking Gas Prices For Refilling 5kg, 12kg Drop…
The National Bureau of Statistics (NBS) has reported a drop in the prices of refilling 5 kg and 12 kg cylinders of Liquefied Petroleum Gas (Cooking Gas) in May 2023. The average retail price for…
Conflict and tension in the central region of…
According to community leaders and local authorities, at least 13 people have been killed in new skirmishes between farming and herding groups in central Nigeria since Friday. Herder and farmer groups in the central state…
Airtel Launches 5G In Nigerian Cities With $700…
Airtel Nigeria has officially launched its 5G network, becoming the second provider to offer 5G services in the country. The launch comes six months after Airtel won the auction for the 3.5GHz spectrum license conducted…
