Nigerias

In a year marked by both challenge and resilience, MTN Group has unfolded its financial narrative, revealing a significant 68.9% drop in full-year earnings. If you dig deeper into the details, you'll see that economic turbulence, specifically in the form of currency devaluation and the volatile situation in Sudan, reshaped the company’s landscape. The figures speak volumes, with the South African telecom titan posting a stark loss of 9.59 billion rand, roughly equivalent to a staggering $526 million.…

The year 2024 has brought remarkable news for Nigeria’s foreign trade sector, which skyrocketed to a whopping ₦138.03 trillion. Imagine an increase of 106.56% from 2023, when the trade value stood at a considerable ₦66.83 trillion. This striking information was shared by none other than the illustrious National Bureau of Statistics (NBS). Numbers on a page don’t always paint a full picture, do they? So, what lies behind this surge in trade? Let’s delve into this enigmatic story. Let's explore some fascinating insights.…

In the fourth quarter of 2024, Nigeria saw a surge in its real Gross Domestic Product (GDP), growing by 3.84% year-on-year, according to the National Bureau of Statistics' latest report. Perhaps this statistic alone could be a cause for cautious optimism among economists. However, when we dive deeper into these numbers, intriguing patterns and challenging questions begin to emerge. What factors contribute to this growth, and what might these imply for Nigeria's economic future? The report reveals an interesting detail:…

It’s fascinating to witness the blossoming success of Tony Elumelu, a household name in Nigeria and across Africa. Currently estimated at a net worth of $2.15 billion by MoneyCentral, Elumelu has not only established himself as a formidable business titan but also as an inspiring figure. This astonishing figure makes one ponder, what sets him apart? Let's delve into the details. According to recent evaluations, this notable ascent comes primarily from his calculated investments and ownership stakes…

Would you quiet your mind for a moment to ponder a fascinating development on the economic horizon? Nigeria's vibrant oil and gas sector, a linchpin of its economy, is drawing attention far beyond its borders. At the forefront of this attention are an astounding 74 Chinese enterprises, all set on a mission to invest, innovate, and invigorate. This movement was highlighted in a recent statement issued by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), stirring a crest of anticipation across both…

Unveiling Nigeria’s Battle Against Corruption The Economic and Financial Crimes Commission (EFCC) of Nigeria has unveiled an impressive feat in its ongoing quest to eradicate corruption. Imagine this: $500 million in diverted funds was successfully retrieved last year. As we delve deeper, one might wonder, what does such a substantial recovery mean for a nation with formidable challenges? "Corruption is Africa’s greatest problem. Not poverty. Not HIV. But…

Nigeria's economy is continuing to grow, with fresh data from the National Bureau of Statistics showcasing a notable 3.84% year-on-year increase in real GDP terms in the fourth quarter of 2024. It's intriguing, isn't it? When considering economic growth, the numbers certainly speak volumes. Compared to the same period last year, there’s been a significant upward trajectory, makings it fascinating to question: what factors are fueling this economic dynamism? Let me walk you through these details. "Nigeria’s…

As the world grows more interconnected, the desire to expand one's horizons becomes a compelling narrative for many. Nigerians are at the forefront of this quest for global engagement. According to Henley & Partners, Nigerians ranked among the top five nationalities curious about investment migration options in 2024. With a 16% year-over-year increase, they outpaced any other African country in expressing this interest. What exactly stirs this profound demand for overseas investment opportunities?…

There's an understandable intrigue surrounding the recent changes to Nigeria's visa-on-arrival (VoA) policy. A meeting of paramount importance between Princess Zahrah Mustapha Audu, the Director General of the Presidential Enabling Business Environment Council (PEBEC), and Dr. Olubunmi Tunji-Ojo, the Honourable Minister of Interior, provided much-needed clarity. A pressing question arises from this scenario: How does a nation balance security with openness? The dialogue between these key…

The Changing Landscape of Nigeria's Fuel Supply Imagine driving through the bustling streets of Lagos or the serene landscape of Abuja, knowing that the gasoline fueling your journey might just be a product of the prolific Dangote Refinery. Recent reports suggest a significant shift in Nigeria's petroleum industry, with this refinery supplying an impressive 60% of the nation's domestic petrol needs. Yes, you read that right—60%! But what does this really mean for Nigeria’s energy landscape?…