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Nigeria’s inflation drops to 23.71% in April

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Flutterwave, Dangote Group joins Africa Leaders Business Council  

Fintech powerhouse, Flutterwave and Dangote Group have been chosen as members of the Milken Institute’s Africa Leaders Business Council. The newly formed council includes renowned thought leaders, entrepreneurs, investors, and professionals from a variety of fields, including business, technology, finance, sustainability, and innovation, according to Nairametric. According to the institute release, the council’s goal is […]

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Nigeria’s regional trade dips to 4th behind SA, Cote d’Ivoire, Egypt

Only three years after implementing the African Continental Free Trade Area agreement, Nigeria has begun to observe a decline in intra-continental trade and performance rankings among nations. The Africa Export-Import Bank which reported this in its Africa Trade Report 2024, headlined, “Climate Implications of the AfCFTA Implementation”, noted that Nigeria’s proportion of total intra-African trade […]

Energy News

APPO urges govt to fulfill obligations to $5bn energy bank

The African Petroleum Producers’ Organisation has asked member countries to meet their financial responsibilities to establish the $5 billion Africa Energy Bank. Last Monday, Nigeria secured the hosting rights for the Africa Energy Bank, which would be based in Abuja, the country’s capital, according to The Punch. To secure the bank’s operationalisation, APPO Secretary-General Dr. […]

Electricity featured

USAID, FG partner to reform Nigeria’s power sector

The US Agency for International Development and Nigeria’s Federal Ministry of Power signed a memorandum of understanding to ensure the country’s commitment to power sector reforms, market transparency, liquidity, and expanding access to affordable power. The Director of USAID/Nigeria Mission, Melissa Jones and the Permanent Secretary of the Federal Ministry of Power, Mahmuda Mamman signed […]

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Ghana’s inflation drops to 22.8% in June

Ghana’s inflation rate for June 2024 fell to 22.8%, the lowest level since April 2022. In May, Ghana’s inflation fell to 23.1%, and the country’s inflation has been falling since the beginning of 2024. Ghana’s month-to-month inflation rate in June 2024 was 2.9%, down from 3.2% in May. According to the Ghana Statistical Services, the […]

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Naira crashes to N1,561 at official exchange rate window

The naira depreciated significantly at the Nigerian Autonomous Foreign Exchange Market window, closing at N1,561.98/$1 on Wednesday, July 10, 2024. The naira fell 2% from the previous day’s rate of N1,532.58/$1, According to FMDQ data. This is the lowest since March 18, 2024, when it was N1,597.25/$1, as the naira approaches N1,600 less than three […]

Russia blocks Telegram in two regions over security concerns
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Hamster Kombat onboarded 239m people in three months  – Telegram CEO

Telegram CEO, Pavel Durov, offered insights and projections for Hamster Kombat, a popular Web 3 play-to-earn game that has dominated the industry since its introduction. The CEO emphasized the project’s impressive growth and potential for introducing millions of people to blockchain technology. He mentioned that Hamster Kombat, a tap-to-earn game offered on Telegram in which […]

News Oil and Gas

Nigeria’s crude oil production jumps to 1.27m barrels daily – OPEC

Nigeria’s average daily crude oil production in June increased modestly to 1.276 million barrels. This marks a mere 25 thousand barrels per day increase over the 1.251 million barrels per day recorded in May, according to OPEC’s monthly oil market primary data report for June 2024. According to secondary sources, Nigeria’s daily average crude oil […]

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Streaming platform Vimeo launches new AI content labels 

Vimeo has followed TikTok, YouTube, and Meta in introducing measures for creators to disclose AI-generated content. In an announcement on Wednesday, the video hosting service updated its terms of service and community guidelines to mandate that creators indicate when realistic content is produced using AI tools. These changes aim to prevent viewers from mistaking AI-generated […]

Samsung reports profit amid AI-driven chip demand
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Samsung launches new devices with Galaxy AI, Google Gemini

Samsung unveiled its latest iterations of foldable phones at the Unpacked 2024 event on Wednesday introducing the Galaxy Z Fold 6 and Galaxy Z Flip 6. Samsung has focused on making them thinner and lighter compared to their predecessors. The Fold 6 notably upgrades its front display aspect ratio, a long-awaited improvement. However, these enhancements […]

Banking News

Keystone bags best retail bank award

Keystone Bank Limited was recognized as the retail bank of the year at the recently held 2024 Africa Industrial and Development Conference and Awards. According to the statement, the bank received the top honor during the Nigeria Middle East Investors Expo and Awards ceremony held at the Transcorp Hilton in Abuja over the weekend. The […]

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