Nigeria signs $200m renewable energy deal to power rural areas
Nigeria has secured a $200 million agreement with WeLight, a pan-African Distributed Renewable Energy company, to bring electricity to millions of people living in rural communities.The deal will deploy hundreds…
EFCC alerts Nigerians on 58 illegal ponzi scheme operators
The Economic and Financial Crime Commission has raised an alarm over the activities of 58 illegal Ponzi schemes that deceived Nigerians under the guise of investment.In a statement issued on…
AfDB and ECOWAS sign new deal to boost food security
The African Development Bank (AfDB) and the Economic Community of West African States (ECOWAS) Commission have signed a $12 million grant agreement to implement the Rice Resilient Value Chains Development…
NNPCL clarifies reports on termination of Crude swap deal
The Nigerian National Petroleum Company Limited (NNPCL) has refuted claims alleging the termination of the Naira-for-Crude agreement with domestic refineries, notably the Dangote Refinery. This program, launched in October 2024,…
Strong trade performance: Nigeria’s surplus exceeds $2B in Q4 2024
Nigeria exported 20.486 trillion naira (US$13.5 billion) in the third quarter of 2024—mainly oil, gas and premium cocoa beans.Nigeria's trade balance recorded a surplus of 3.423 trillion naira in the…
Ethiopia begins drone manufacturing to boost national security
Ethiopia has begun exploring its capacity to mass produce drones as it invests in manufacturing unmanned aerial vehicles (drones) for both civilian and military applications.The Prime Minister of the East…
DRC and U.S. explore minerals partnership to boost resource development
The United States has signaled its openness to establishing critical minerals partnerships with the Democratic Republic of Congo (DRC), an African nation abundant in resources like cobalt, lithium, and uranium.…
FIRS eyes improved Tax-to-GDP ratio with new e-invoicing system
The Federal Inland Revenue Service (FIRS) has called on large tax consultants to embrace the newly introduced electronic invoicing (e-invoicing) system, emphasizing its role in boosting Nigeria’s tax-to-GDP ratio. This…
Nigeria to recover $37.4 million from oil firms
Seven oil companies have pledged to transfer $37.4 million (about ₦58 billion) to Nigeria's Federation Account by August 2025.This pledge emerged from an ongoing investigation by the Public Accounts Committee…
Ghana’s economic growth slows in Q4 2024
Ghana experienced a deceleration in economic growth during the fourth quarter of the previous year, primarily due to a decline in the industrial sector's performance, as reported by the country's…
