A number of heavily indebted Nigerian power producers have ceased operating because their customers aren’t settling their bills and they can’t afford to run their equipment or pay for gas supplies.
A number of heavily indebted Nigerian power producers have ceased operating because their customers aren’t settling their bills and they can’t afford to run their equipment or pay for gas supplies.
A customer displays newly-designed Nigerian 1000 naira banknotes, withdrawn from an automated teller machine (ATM) outside a Zenith Bank Plc branch in Lagos, Nigeria, on Saturday, Feb. 4, 2023. Central Bank Governor Godwin Emefiele has defended his decision to replace 2.7 trillion naira ($5.85 billion) of cash outside the banking system even as scenes of chaos have unfolded all over Nigeria, where the vast majority of transactions are still done in cash.
Nigeria plans to put in place a cybersecurity framework as it confronts a surge in increasingly sophisticated, artificial intelligence-driven cyberattacks that’s costing its banks, companies and government agencies millions of dollars.
Nigeria plans to put in place a cybersecurity framework as it confronts a surge in increasingly sophisticated, artificial intelligence-driven cyberattacks that’s costing its banks, companies and government agencies millions of dollars.
Nigeria is tightening scrutiny of its fast-growing fintech industry while easing licensing and improving access to capital as it tries to balance innovation with financial stability.
Nigeria is tightening scrutiny of its fast-growing fintech industry while easing licensing and improving access to capital as it tries to balance innovation with financial stability.
The Central bank of Nigeria headquarters in Abuja, Nigeria. Photographer: Olympia de Maismont/AFP/Getty Images
Nigeria is tightening scrutiny of its fast-growing fintech industry while easing licensing and improving access to capital as it tries to balance innovation with financial stability.
Nigeria is tightening scrutiny of its fast-growing fintech industry while easing licensing and improving access to capital as it tries to balance innovation with financial stability.
The Central bank of Nigeria headquarters in Abuja, Nigeria. Photographer: Olympia de Maismont/AFP/Getty Images
Africa recorded its fastest solar growth on record in 2025, driven by a surge in utility-scale projects, and could add more than six times last year’s annual capacity by 2029, according to a new industry report.
Africa recorded its fastest solar growth on record in 2025, driven by a surge in utility-scale projects, and could add more than six times last year’s annual capacity by 2029, according to a new industry report.
Photovoltaic solar panels cover car parking spaces at a Makro wholesale store, operated by Masstores (Pty) Ltd., in Johannesburg, South Africa, on Friday, Aug. 18, 2023.
High-ranking officials disgruntled over stalled promotions led an alleged conspiracy to overthrow Nigeria’s president late last year, according to an investigation into a plot previously denied by the authorities.
High-ranking officials disgruntled over stalled promotions led an alleged conspiracy to overthrow Nigeria’s president late last year, according to an investigation into a plot previously denied by the authorities.
Nigeria plans to raise 4 trillion naira ($2.9 billion) from its domestic capital markets to settle outstanding debts owed to power companies as it seeks to end perennial blackouts in the West African nation.
Nigeria plans to raise 4 trillion naira ($2.9 billion) from its domestic capital markets to settle outstanding debts owed to power companies as it seeks to end perennial blackouts in the West African nation.
Nigeria plans to raise 4 trillion naira ($2.9 billion) from its domestic capital markets to settle outstanding debts owed to power companies as it seeks to end perennial blackouts in the West African nation.
Nigeria plans to raise 4 trillion naira ($2.9 billion) from its domestic capital markets to settle outstanding debts owed to power companies as it seeks to end perennial blackouts in the West African nation.
Nigeria has set up a joint committee with Turkey to more than double bilateral trade to $5 billion, as the West African nation turns to the Middle East to diversify its economy and attract investment.
Nigeria has set up a joint committee with Turkey to more than double bilateral trade to $5 billion, as the West African nation turns to the Middle East to diversify its economy and attract investment.
Turkish President Recep Tayyip Erdogan and Nigerian President Bola Ahmed Tinubu in Ankara, Turkiye on Jan. 27.
Nigeria’s finance minister said he expects the central bank to cut interest rates soon if inflation continues to cool, easing pressure on government finances strained by volatile oil prices.
Nigeria’s finance minister said he expects the central bank to cut interest rates soon if inflation continues to cool, easing pressure on government finances strained by volatile oil prices.
Nigeria plans to raise as much as 500 billion naira ($352 million) through green bonds this year, tapping strong investor appetite as Africa’s biggest oil producer turns to climate-linked debt to fund environmental projects and diversify its financing base.
Nigeria plans to raise as much as 500 billion naira ($352 million) through green bonds this year, tapping strong investor appetite as Africa’s biggest oil producer turns to climate-linked debt to fund environmental projects and diversify its financing base.
The Oban Biosphere Reserve, in Calabar, Cross River, Nigeria.
Nigeria plans to raise as much as 500 billion naira ($352 million) through green bonds this year, tapping strong investor appetite as Africa’s biggest oil producer turns to climate-linked debt to fund environmental projects and diversify its financing base.
Nigeria plans to raise as much as 500 billion naira ($352 million) through green bonds this year, tapping strong investor appetite as Africa’s biggest oil producer turns to climate-linked debt to fund environmental projects and diversify its financing base.
The Oban Biosphere Reserve, in Calabar, Cross River, Nigeria.
Nigeria and the United Arab Emirates concluded an economic partnership agreement that President Bola Tinubu said will deepen trade ties and unlock investment.
Nigeria and the United Arab Emirates concluded an economic partnership agreement that President Bola Tinubu said will deepen trade ties and unlock investment.
Nigeria and the United Arab Emirates concluded an economic partnership agreement that President Bola Tinubu said will deepen trade ties and unlock investment.
Nigeria and the United Arab Emirates concluded an economic partnership agreement that President Bola Tinubu said will deepen trade ties and unlock investment.
Nigeria is targeting as much as $3 billion a year in carbon-market revenue after approving a framework that opens one of Africa’s largest economies to large-scale trading of emission allowances.
Nigeria is targeting as much as $3 billion a year in carbon-market revenue after approving a framework that opens one of Africa’s largest economies to large-scale trading of emission allowances.
Flames from a flare stack. Photographer: Luke Sharrett/Bloomberg
Nigeria is set to pass a law that would place it among the first African countries to regulate artificial intelligence, tightening oversight of one of the continent’s fastest-growing digital markets after years of largely unchecked expansion by global technology firms.
Nigeria is set to pass a law that would place it among the first African countries to regulate artificial intelligence, tightening oversight of one of the continent’s fastest-growing digital markets after years of largely unchecked expansion by global technology firms.
Customers at a telecoms store in Nigeria. Photographer: Jean Chung/Bloomberg
Nigeria’s state-owned oil producer plans to develop new oil fields from next year and seeks to raise at least $30 billion by the end of the decade, senior officials familiar with the plans said.
Nigeria’s state-owned oil producer plans to develop new oil fields from next year and seeks to raise at least $30 billion by the end of the decade, senior officials familiar with the plans said.
A customer waits for a container to be filled with fuel at a Nigerian National Petroleum Company Ltd. (NNPC) gas station in Lagos, Nigeria, on Wednesday, Aug. 23, 2023. Gasoline prices have more than tripled since the subsidies were abolished on May 29, exacerbating a cost-of-living crisis in Africa’s biggest economy.
After the US warned that more strikes may follow its surprise Christmas Day attack on suspected terrorist targets in Nigeria, officials in the West African nation suggested they’d be open to continued intervention.
After the US warned that more strikes may follow its surprise Christmas Day attack on suspected terrorist targets in Nigeria, officials in the West African nation suggested they’d be open to continued intervention.
Nigeria secured about $1.2 billion in funding from the United Arab Emirates to help build part of a new freeway, the West African nation’s presidency announced Friday.
Nigeria secured about $1.2 billion in funding from the United Arab Emirates to help build part of a new freeway, the West African nation’s presidency announced Friday.
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