Articles

Nigerian companies are spending about $850 million annually on foreign cloud services, embedding the country’s fast-growing digital economy into infrastructure located thousands of kilometres away and increasingly exposed to geopolitical risk. That risk came into sharp focus in March 2026, when Iranian drone strikes hit AWS facilities in the UAE and Bahrain. Though Nigeria recorded […]

…Other GenCos hold back Eight of Nigeria’s largest power generation companies, including Transcorp Power, Egbin Power, and Geregu Power Plc, have signed onto President Bola Tinubu’s N3.3 trillion debt settlement programme, a deal aimed at restoring liquidity to an electricity sector that has lurched from one financial crisis to the next for nearly a decade.

Suspected terrorists have intensified efforts to isolate border communities in Niger State, detonating an improvised explosive device (IED) along the Babanna axis of Borgu Local Government Area on Sunday, leaving at least four people feared dead. The blast struck a strategic bridge that had been attacked barely two weeks earlier, reinforcing fears of a coordinated

There has been no proclamation by the Central Bank of Nigeria, no parliamentary debate, and no introduction of a new monetary unit. Across markets, transport routes and neighbourhood shops, the naira has effectively undergone a silent redenomination. The smallest denominations (N5, N10, N20 and N50) have largely disappeared from everyday transactions, pushed out not by

The recapitalization of Nigeria’s banking system is a rare policy moment that is simultaneously technical, misunderstood, and profoundly consequential. To many outside the financial system, the directive by the Central Bank of Nigeria seemed almost literal: banks were told to “raise capital,” and so the public imagined vaults filling with cash, stacked somewhere under central

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Nigeria’s fiscal story is becoming increasingly difficult to explain and even harder to defend. At a time when allocations from the Federation Account Allocation Committee (FAAC) have risen significantly following the removal of fuel subsidies, Nigerian states are returning, almost aggressively, to the debt markets. Domestic borrowing has surged, crossing the ₦4 trillion mark in

…15 power plants sign settlement deal President Bola Tinubu has approved a N3.3 trillion settlement plan to clear power sector debts accumulated over more than ten years, in what his administration is casting as the most decisive intervention yet in a grid that has long frustrated households and strangled economic growth. The payment framework, announced

Nigeria’s lenders are under pressure to meet an April 30 deadline set by the Central Bank of Nigeria (CBN) to submit Board-approved Risk-Based Capital (RBC) stress test reports, marking a tougher phase of oversight after the industry’s recapitalisation exercise. The directive, issued March 6, 2026, requires banks to assess how their capital positions would hold

…NDC, ADP may emerge as alternative platforms Rising tensions between the African Democratic Congress (ADC) and the Independent National Electoral Commission (INEC) have thrown the party into uncertainty just weeks before the commencement of primaries for the 2027 general elections. Citing a subsisting Appeal Court ruling, INEC recently suspended official engagement with the party and