Category: Finance and Economy

Dangote, China’s GCL Seal $4.2bn Gas Supply Deal for Ethiopia Fertiliser Megaproject

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Dangote, China’s GCL Seal $4.2bn Gas Supply Deal for Ethiopia Fertiliser Megaproject

Africa’s largest industrial conglomerate, Dangote Industries Limited, has entered into a landmark $4.2 billion gas supply agreement with Chinese energy firm GCL Group to power a major fertiliser production facility in Ethiopia. The long-term deal, signed in Lagos, spans 25 years and will guarantee a steady supply of natural gas to a planned urea fertiliser…

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Business Investments

Nigeria Emerges First in USDT, USDC, Stablecoin Ownership

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Nigeria Emerges First in USDT, USDC, Stablecoin Ownership

Nigeria has been ranked the world’s leading country in ownership of the two largest dollar-pegged stablecoins, Tether (USDT) and USD Coin (USDC), highlighting the growing role of digital dollar alternatives in the country’s financial ecosystem. The ranking indicates that a significant portion of Nigerians who participate in the cryptocurrency market hold stablecoins, digital tokens designed…

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Cryptocurrencies

FG Introduces Collateral-Free Loans to Boost Smallholder Farmers

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FG Introduces Collateral-Free Loans to Boost Smallholder Farmers

The Federal Government has launched a new collateral-free loan scheme aimed at supporting smallholder farmers and boosting agricultural production across Nigeria. The initiative, known as the FarmerMonie Dry and Wet Season Programme, is being implemented under the Renewed Hope Government Enterprise and Empowerment Programme (RH-GEEP 3.0) through the National Social Investment Programmes Agency (NSIPA). According…

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Finance and Economy

Middle East Tensions Push Nigerian Crude Toward $80 per Barrel as Global Oil Markets React

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Middle East Tensions Push Nigerian Crude Toward $80 per Barrel as Global Oil Markets React

Rising geopolitical tensions in the Middle East are sending shockwaves through global energy markets, with Nigerian crude oil now projected by analysts to climb toward the $80-per-barrel mark. The renewed volatility follows reported military actions involving Israel and the United States against Iran, a development that has heightened fears of potential disruptions to global oil…

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Finance and Economy

President Tinubu Approves One-Year Ban Extension of Raw Shea Nut Export

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President Tinubu Approves One-Year Ban Extension of Raw Shea Nut Export

President Bola Ahmed Tinubu has approved a one-year extension of the federal government’s ban on the export of raw shea nuts, reinforcing Nigeria’s push to deepen local processing and expand value-added agricultural exports. The renewed restriction takes effect from February 26, 2026, and will remain in force until February 25, 2027. The decision, conveyed through…

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Finance and Economy, Trade and Commerce

PayPal Finally Enables Inbound Payments for Nigerians via Paga

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PayPal Finally Enables Inbound Payments for Nigerians via Paga

After nearly 20 years of limited operations in Nigeria, global payments giant PayPal has taken a major step into the country’s fintech space by partnering with Nigerian digital payments and company Paga to enable inbound international payments for Nigerians. The development marks the first time PayPal users in Nigeria can legally and directly receive funds…

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Finance and Economy

FinTech Titans Go National: CBN Elevates Opay, Moniepoint & More in Historic Regulatory Leap

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FinTech Titans Go National: CBN Elevates Opay, Moniepoint & More in Historic Regulatory Leap

In one of the most consequential regulatory shifts in Nigeria’s financial technology landscape in recent years, the Central Bank of Nigeria (CBN) has today upgraded the licences of major fintech firms and microfinance banks (MFBs), including household names such as Opay and Moniepoint to national status, effectively expanding their operational scope across all 36 states…

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Finance and Economy

CBN Launches New Nationwide ATM Standard, Banks Face Compliance Countdown

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CBN Launches New Nationwide ATM Standard, Banks Face Compliance Countdown

In a sweeping overhaul of automated teller machine (ATM) rules aimed at transforming Nigeria’s cash access landscape, the Central Bank of Nigeria (CBN) has unveiled bold new minimum standards for the deployment, operation, maintenance, and security of ATM services nationwide. The new regulation, contained in a circular titled “Exposure of the Draft Guidelines on the…

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Finance and Economy