IEA trims oil demand growth forecast amid economic uncertainty, EV market surge
Post AMUGE
14 hrs
Onome Amuge Global oil demand growth is set to decelerate sharply for the remainder of 2025, according to the International Energy Agency (IEA), as economic headwinds intensify and the electric vehicle (EV) market continues its record-breaking expansion. The Paris-based energy watchdog now projects demand growth to moderate to 650,000 barrels per day (bpd) for the […]
Nigeria’s business resilience shines in FT’s Africa growth rankings
Post AMUGE16 hrs
Omniretail, Palmpay,Remedial Health lead growth wave Onome Amuge The Financial Times’ ranking of Africa’s Fastest-Growing Companies compiled in collaboration with Statista, recently analysed the compound annual growth rate (CAGR) of African companies between 2020 and 2023, offering a retrospective yet insightful view of Africa’s burgeoning businesses. While South Africa leads in overall numbers, Nigeria also […]
Foreign investors outflow up 251% in Q1 2025 as reforms, global tensions bite
Post AMUGEMay 14, 2025
Onome Amuge Foreign investors sharply increased their withdrawal from the Nigerian equities market in the first quarter of 2025, pulling out N420.37 billion, representing a 251 per cent increase compared to the N119.81bn outflow recorded in the same period last year, data from the Nigerian Exchange (NGX) reveals. The spike in capital flight coincides with […]
CBN salary expenses balloon to N608bn despite layoffs
Post AMUGEMay 14, 2025
Onome Amuge The Central Bank of Nigeria (CBN) witnessed its wage bill more than double to N608.5 billion in 2024, rising 106 per cent year-on-year, even as the institution implemented a major reduction in its workforce. Financial statements for the year ending December 2024, reviewed by Business a.m., reveal that the wage bill increase occurred […]
World Bank projects 22.1% inflation dip in Nigeria for 2025
Post AMUGEMay 13, 2025
Onome Amuge Nigeria’s inflation, a persistent economic headache, is projected to average 22.1 per cent in 2025, the World Bank has projected. The Washington-based lender, in its latest Nigeria Development Update (NDU) unveiled in Abuja on Monday, noted that the Central Bank of Nigeria’s (CBN) tight monetary policy stance is beginning to anchor inflation expectations […]
Analysts cautious as N190bn SDR charges, debts tug finances despite $3.4bn IMF repayment
Post AMUGEMay 12, 2025
The big picture is still not a good or desired position- University Don Exposures to foreign debt must be reduced- CPPE Onome Amuge Nigeria has officially cleared the $3.4 billion financial lifeline it received from the International Monetary Fund (IMF) under the Rapid Financing Instrument (RFI) during the peak of the COVID-19 pandemic. This follows […]
Startups from Nigeria, Egypt, Kenya and South Africa are investors’ toast- Report
Post AMUGEMay 12, 2025
Bamidele Famoofo Startups from four strategic African countries- Egypt, South Africa, Kenya and Nigeria are fast becoming the toast of foreign investors as they are perceived most developed among their peers on the continent. A report released by the International Finance Corporation, the investment arm of the World Bank, recently, revealed that African startups are […]
Economic recovery fails to ease inflation’s grip on Nigerian manufacturers
Post AMUGEMay 10, 2025
Onome Amuge Nigeria’s business environment registered a marginal improvement in April, yet a deeper analysis reveals a growing divergence, with the manufacturing sector facing the most acute inflationary pressures that threaten to undermine broader economic gains. The latest NESG-Stanbic IBTC Business Confidence Monitor (BCM) showed a modest rise in the Current Business Index to +12.29, […]
Africa holds $80bn football investment opportunity – new industry report
Post AMUGEMay 8, 2025
African football no longer a developing market story—it’s an investment-grade opportunity – Domínguez, WFS content director Ben Eguzozie African football holds staggering commercial investment opportunities worth $80 billion, according to a comprehensive report released by World Football Summit (WFS), the premier global event for the football industry. The report, developed in collaboration with #AfricaScores intelligence […]
CIAPS advocates for African economic gains amid global trade rifts
Post AMUGEMay 7, 2025
Joy Agwunobi L:R, Magnus Onyeibe, policy analyst and development strategist, Vimbai Mutinhiri, a media personality and Anthony Kila, director of CIAPS at the Trump 2.0 and Africa: Dangers and Prospects event held at the Commonwealth Institute of Advanced and Professional Studies (CIAPS) auditorium, Lagos African nations have been advised to rethink their international approach and […]