Nigeria is heading into the second half of 2026 with a mixed economic picture: the economy appears to be gaining momentum, but the naira remains under pressure and borrowing costs are still extremely high. A BusinessDay nowcast estimates that Nigeria’s economy could grow by 4.5% in Q2 2026, which would make it the fastest second-quarter…
The latest developments around the Strait of Hormuz are exposing a bigger problem than whether commercial ships can return to the waterway: international rules are struggling to keep pace with a geopolitical crisis. Iran and Oman are reportedly close to an arrangement that would create separate routes for ships travelling through the strait, with discussions…
The Ebola outbreak in the Democratic Republic of Congo is entering a dangerous phase, with cases continuing to rise rapidly in the country’s eastern hotspot zones. The World Health Organization is warning that the response needs to be scaled up urgently as transmission continues, particularly in Ituri province. The latest numbers show how quickly the…
The continuing conflict involving Iran is creating a strange situation in the global energy market: oil companies are making much more money at the same time that higher energy prices are putting pressure on consumers and businesses. Saudi Aramco, ExxonMobil and Chevron are among the major energy companies benefiting from the sharp changes in oil…
The Dangote Petroleum Refinery has reduced its ex-depot prices for petrol and diesel, cutting petrol to ₦1,165 per liter and diesel to ₦1,570 per liter. The refinery said the move is aimed at improving energy affordability and access to locally refined products. The important question now is not just how much Dangote has cut its…
North Korea launched a suspected short-range ballistic missile towards waters off its east coast on Thursday, according to South Korean officials. The projectile fell into the sea and did not pose a reported threat to Japanese territory. On its own, another North Korean missile test might look routine. Pyongyang has conducted repeated launches this year…
China has retaliated against the United States with sanctions on American entities and tighter controls on drone exports and related technologies, escalating a technology dispute that is increasingly moving beyond smartphones and semiconductors. Beijing’s latest measures come days after the United States restricted imports of new foreign-made humanoid robots, robot dogs and power inverters, citing…
The worsening relationship between Nigeria and South Africa is beginning to affect something that has historically brought the two countries closer: entertainment. South African pop star Tyla has removed Lagos from her A*POP World Tour itinerary after days of intense backlash from Nigerians over renewed xenophobic attacks against Nigerians and other African migrants in South…
The naira is facing renewed pressure in the parallel market, with the dollar selling for around ₦1,420, even as the Central Bank of Nigeria insists that the foreign exchange market is becoming more stable. The latest parallel-market rate is notably higher than the official rate, which has been trading around ₦1,362–₦1,369 per dollar. Recent market…
The United Kingdom’s decision to cut its development aid allocation to Nigeria by 50.2% should be viewed as more than another reduction in foreign assistance. It is a reminder that Nigeria cannot build its future around money that ultimately depends on the priorities of another country. The UK’s planned reduction reportedly takes direct aid to…
