The revolution that overthrew the democratic government of Niger last year has resulted in an internal security crisis and a diplomatic spat with neighboring Benin,
Category: Africa
Nigeria’s cost of living crisis is at its worst as inflation hits a new 28-year record.
Official figures released on Saturday indicated that Nigeria’s annual inflation reached a record 28-year high of 33.95% in May, exacerbating the hardships that have stoked
African countries in crisis as $74b will be used for debt servicing in 2024. – AfDB Chief.
The chairman of the continent’s development bank stated that for Africa to avoid a lost decade, the continent needs faster debt restructurings, more advantageous loan
Nigeria’s NNPC receives $925m from the $3.3b Afreximbank crude-oil-backed facility
As part of a syndicated $3.3 billion crude oil-backed prepayment facility, Afreximbank has released $925 million to Nigeria’s state-owned NNPC, the African trade bank announced
Nigeria’s fragile economy grinds to a halt as unions protest the worst cost of living crisis in 28 years.
The top labor unions in Nigeria went on strike on Monday, demanding a pay hike amid the greatest cost of living crisis in decades. Major
Nigeria’s Central Bank to lose control over fiscal and economic policy while the Governor will spend a single term of 6 years.
A bill in the Senate indicates that Nigerian politicians are attempting to curtail the central bank’s authority over economic policy by suggesting the formation of
Nigeria is emerging as a critical mineral hub, but corruption and banditry remain major obstacles.
The Nigerian government is stepping up its crackdown on illicit mining, having detained scores of unlicensed miners since April on suspicion of stealing lithium, a
US commits to providing 80% of Africa with internet access as FDI crashes to 3.5% globally.
Vice President Kamala Harris is declaring the formation of a new alliance to assist in bringing internet connectivity to 80% of Africa by 2030, an
Microsoft and Abu Dhabi-based AI firm G42 to invest $1b in geothermal Kenya data center
As part of its attempts to extend cloud computing services in East Africa, Microsoft is teaming with UAE-based AI firm G42 to spend $1 billion
Nigeria’s central bank reacts as inflation peaks at 33.69% in 28 years, hiking the benchmark rate to 26.25%.
In a move announced on Tuesday, Nigeria’s central bank increased its benchmark lending rate by 150 basis points, to 26.25% from 24.75%. Given that the
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