Nigeria announced sweeping tax incentives to attract as much as $50 billion of investment in deepwater-oil and gas projects and revive capital-intensive projects that have stalled for decades.

Africa-focused fintech PalmPay Ltd., valued at more than $1 billion in an ongoing funding round, is preparing for a potential Hong Kong initial public offering, according to people with knowledge of the matter.

Nigeria’s central bank said plans to shift to an inflation-targeting regime haven’t been derailed by price pressures emanating from the Iran war, and it expects to conclude the process in two years’ time.

Nigeria’s central bank held interest rates as expected to curtail price pressures from the Iran war, which it described as the biggest risk to its outlook.

Nigeria’s annual inflation rate unexpectedly held steady in June, dampening predictions of an interest-rate cut when policymakers meet next week in the shadow of resumed hostilities in the Middle East.

Nigeria granted Shell Plc a production-linked tax credit for a deepwater project, an incentive that will be offered to other oil majors as Africa’s biggest producer seeks to boost production, according to people familiar with the matter.

Nigeria granted Shell Plc a production-linked tax credit for a deepwater project, an incentive that will be offered to other oil majors as Africa’s biggest producer seeks to boost production, according to people familiar with the matter.

Standard Chartered Plc. said that the Central Bank of Nigeria’s easing cycle will likely be slower and more cautious as inflation will be higher than anticipated and expectations remain unanchored.

The World Bank approved $1.25 billion in development financing to help Nigeria spur economic growth and create jobs after the West African nation embarked on reforms praised by the lender.

Nigeria’s antitrust commission said pump prices for fuel aren’t dropping fast enough in comparison to the sharp decline in oil prices, warning of a potential crackdown against a market dominated by Africa’s richest person.

Nigeria has accessed the first tranche of a $5 billion derivatives deal with United Arab Emirates’ largest lender, pressing ahead with a transaction that has been scrutinized for being opaque.

Nigeria’s revenue surged 49% in the first five months of the year, exceeding government projections as an overhaul of the tax system and new levies on industries including petroleum and mining boosted collections.

Nigeria’s annual inflation rate rose less than expected and may ease in coming months after the US and Iran reached a deal to reopen the Strait of Hormuz, reviving the case for a drop in borrowing costs.

The US said it has killed about 200 Islamic State-linked fighters in Nigeria since operations began in the West African nation.

The International Monetary Fund said Nigeria should maintain tight monetary policy to curb inflation, while cautioning that a recently announced $5 billion debt swap poses potential risks.

Nigeria plans to refinance high-cost debt and raise funds to help plug its budget deficit, leveraging strong investor confidence amid elevated oil prices fueled by the US-Iran conflict.

Nigeria plans to refinance high-cost debt and raise funds to help plug its budget deficit, leveraging strong investor confidence amid elevated oil prices fueled by the US-Iran conflict.

Nigerian oil companies are plowing windfall gains from the Iran-war crude rally into near-term extraction projects, boosting the drive by Africa’s top producer to double output within four years.

Nigerian oil producer Oando Energy is witnessing a surge in revenue because of the Iran war, which has “shattered” the Gulf’s reputation as a safe place to operate, said Group Chief Executive Wale Tinubu.

Nigeria’s annual inflation rate climbed to its highest level in five months as the fallout from the Iran war continued to fan energy prices, complicating the outlook for policymakers ahead of their first meeting since the conflict began.