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In a statement issued on Thursday, the debt office clarified that the actual amount used for servicing the bond was $44.6 million, not the $401.1 million being cited in some media reports.
According to the 2024 Taxes and Charges Study by the African Airlines Association (AFRAA), international passengers departing from African airports pay an average of $68 in taxes and fees—up from $66 in 2022 and $64 in 2020.
Aliko Dangote, Africa’s richest man, is placing a bold $3 billion bet on Ethiopia—choosing the East African country as the site of his next mega fertiliser plant.
The number of individuals with over $1 million in liquid assets in Nigeria dropped by 53% between 2014 and 2024, falling from 15,000 to 7,200. This marks a loss of 7,800 dollar millionaires over the period, the second-largest drop among 59 countries analyzed
Kenya’s private sector activity fell to an 11-month low in June 2025, as weak consumer demand, economic headwinds, and renewed protests dragged performance.
Namibia’s FDI performance significantly outpaced Botswana — its economic counterpart, whose total stock stood at $6.5 billion in 2024 despite recording steady growth over the past decade.
As of March 31, 2025, Nigeria’s public debt totaled ₦149.3 trillion, according to the Debt Management Office.
According to Government Statistician Alhassan Iddrisu, the continuous decline signals that the underlying causes of the inflation — high food costs, currency depreciation and global supply chain bottlenecks — were easing.
The facility will also support South Africa’s transition to a green economy under its Just Energy Transition (JET) programme. The IMF estimates that the development initiative could lift annual GDP growth by 0.2 to 0.4 percentage points between 2025 and 2030.
Business activity in Nigeria fell to a seven-month low in June 2025, despite continued declines in inflation, according to the latest Purchasing Managers’ Index (PMI) from Stanbic IBTC Bank.
Nigeria has introduced tax reforms that scrap three key taxes for small businesses but tripled the capital gains tax (CGT) rate for corporations.
President Bola Tinubu has signed into law four tax reform bills that are set to transform Nigeria’s fiscal and revenue framework. The four bills, the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill, were passed on Thursday after extensive consultations with various…
The signing comes a day after Kenyans returned to the streets to commemorate victims of last year’s nationwide protests, which were sparked by the highly controversial tax reforms proposed in the Finance Act 2024.
Nigeria, Africa’s most populous country, has yet to release its real Gross Domestic Product (GDP) data for the first quarter of 2025, and there’s cause for concern.
According to the Treasury, the loan comes with favourable interest rates and flexible repayment terms, which will help to contain rising debt service costs, projected to hit $24 billion by the end of 2026.
For now, inflation appears to be cooling. But how long that relief lasts will depend on how energy markets respond to geopolitical risks—and how much of those costs are passed on to Nigerian consumers, experts say.
Dangote Petroleum Refinery is set to commence nationwide distribution of petrol and diesel from August 15, 2025, a move to reshape Nigeria’s fuel supply chain.
The escalating conflict between Israel and Iran is sending tremors through global energy markets, with Nigeria caught in the crosscurrents, poised to reap short-term benefits from surging oil prices while facing heightened inflation and monetary tightening at home. Crude oil prices jumped from $65 to $75 per barrel in the week following Iran’s missile strikes…
Transnet signs three-year union deal amid renewed push to expand maritime operations and partner with OEMs to diversify and penetrate Africa’s logistics market
The World Bank’s latest growth forecast marks a sharp upgrade from its 2024 projection, which slashed Egypt’s expected growth to 2.4%, down from 3.8% previously predicted