Under the Insurance Industry Reform Act (NIIRA) 2025, Nigerian President Bola Tinubu signed extensive insurance changes into law, according to a statement released by his
Category: Africa
Nigeria’s oil regulator says July oil output tops 1.8 million bpd, critical for stabilizing the economy.
The head of Nigeria’s upstream regulator stated on Monday that the country’s oil production has risen to 1.78 million barrels per day (bpd) on average,
G20 finance chiefs back central bank independence and the WTO against Trump.
In a joint statement released on Friday following a two-day summit in South Africa, finance chiefs from the Group of 20 countries emphasized the value
Nigeria is set to process lithium with four Chinese-funded plants by year-end.
A $600 million lithium processing plant near the Kaduna-Niger border is scheduled for commissioning this quarter, while a $200 million lithium refinery on the outskirts
MTN Group and Airtel Africa will share networks in Nigeria and Uganda, given high 5G connection costs.
To reduce costs while simultaneously expanding service coverage, MTN Group and Airtel Africa announced on Wednesday that they had reached an agreement to share mobile
Africa launches new “gold standard” currency backed by critical minerals.
A new “gold standard” currency system is being proposed by Africa’s development bank, and it will be supported by vital minerals like cobalt, copper, lithium,
Nigeria becomes the 9th BRICS partner country and may face a 100% tariff from the U.S.
Brazil, the chair of the BRICS bloc of developing countries, has announced that Nigeria has been accepted as a “partner country.” To counterbalance the Group
China Development Bank grants first loan of $255m to railway project in Nigeria.
On Tuesday, the China Development Bank said that it has recently loaned 245 million euros ($254.76 million) to the Nigerian Kano-Kaduna railway project, supplying funding
Nigeria’s lithium boom is driven by Chinese merchants, illegal mines, and child labor.
Six-year-old Juliet Samaniya, wearing a worn pink dress, squats under blazing sun to use a stone tool to chip away at a sharp white rock.
Nigeria’s central bank hikes the interest rate for the 6th time in 2024 to 27.5% in the worst cost-of-living crisis.
Citing fresh inflationary pressures in the most populous country in Africa, Nigeria’s central bank increased its benchmark lending rate by 25 basis points to 27.50%
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