Africa’s private capital market saw a big surge in the second quarter of 2025, nearly doubling from the previous three months.  A new report by Stears and the East Africa Venture Capital Association (EAVCA) shows that disclosed deal value hit $3.0 billion in Q2 2025, up from $1.6 billion in Q1 2025 and almost matching last year’s $3.7 billion.  Here’s a closer look

PRNigeria Fact Check Debunks Lafia Flyover Collapse Claim as AI-Generated Hoax A widely circulated claim on social media asserting the collapse of the newly constructed N10 billion Lafia flyover, barely three weeks after its commissioning, has been definitively debunked as false and misleading. A PRNigeria fact-check investigation revealed that the viral image accompanying the claim

Bill to Establish Project Monitoring Agency Scales Second Reading A bill seeking to establish the National Independent Project and Monitoring Agency (NIPMA) passed second reading at the House of Representatives on Wednesday. The bill, sponsored by Chinedu Martins, a lawmaker from Imo, aims to ensure transparency, accountability, and effective monitoring and evaluation of public projects

Tinubu Resisted Pressure to Reverse Fuel Subsidy – Shettima The Vice-President, Kashim Shettima, says President Bola Tinubu resisted pressure from cabals in the oil sector, following the removal of petrol subsidy. Shettima spoke on Wednesday when the newly elected executives of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) visited the

States Slashing Electricity Tariff Must Pay Subsidy – NERC The Nigerian Electricity Regulatory Commission (NERC) has said that state governments do not have jurisdiction over the national grid and over electric power stations established under federal laws or operating under licences it issued. The commission stated this in its reaction to the controversies generated by

CBN Report Reveals Impediments to Business Operations According to a new report by the Central Bank of Nigeria (CBN), businesses across Nigeria have ranked high interest rates as the most severe constraint affecting their operations in June 2025, overtaking long-standing challenges such as insecurity and poor electricity supply. The apex bank disclosed this in its

NNPC Boss Pledges to Fast-track $2.8bn AKK Pipeline Project The Group Chief Executive Officer of Nigerian National Petroleum Company Ltd (NNPCL), Bayo Ojulari, has assured of the speedy delivery of the $2.8bn Ajaokuta–Kaduna–Kano Natural Gas Pipeline project, adding that the project will unlock economic prosperity when it comes on board. He said to fulfill this

CBN: Staying the Course in the Face of Temporary Storm By Rahma Olamide Oladosu At its 301st meeting held on July 21 and 22, 2025, the Monetary Policy Committee of the Central Bank of Nigeria made the deliberate decision to maintain all key policy parameters. The decision, detailed in Monetary Policy Communiqué No. 158, demonstrates

Report Projects 700,000bpd Production for Dangote Refinery by December The nameplate capacity of the Dangote Petrochemical Refinery is projected to reach 700,000 barrels per day by December 2025, marking a major milestone in Nigeria’s refining capacity, a new report by Argus Media has revealed. According to the report, the increase represents a 50,000bpd boost from

Nigeria’s Interest Rate Dilemma: Stability at What Cost? By Prof. Chiwuike Uba, PhD In its July 2025 Monetary Policy Committee (MPC) meeting, the Central Bank of Nigeria (CBN) opted to retain its existing monetary parameters—maintaining the Monetary Policy Rate (MPR) at 27.5%, the Cash Reserve Ratio (CRR) at 50% for commercial banks, the Liquidity Ratio

Suppliers Kick Dangote’s Direct Fuel Distribution Plan Oil suppliers in Nigeria have called on the Dangote Refinery to reverse its decision to implement a direct fuel distribution scheme, citing concerns over market disruption and fairness. From August 15, Dangote would begin supplying fuel directly to filling stations, telecommunication companies, the aviation sector, and other bulk

FIRS Rakes in N14.27tn Revenue, Exceeds H1 Target The Federal Government, through the Federal Inland Revenue Service, has recorded a significant revenue surge in the first half of 2025, collecting a total of N14.27tn, representing a 43 per cent growth compared to the same period in 2024, data from a performance evaluation report obtained from