nigeria

Ahead of Saturday’s governorship election in Ondo State, three candidates have stepped down from the gubernatorial race as Inspector General of Police, Kayode Egbetokun orders the restriction of all vehicular movements on election day. 

Ondo decides 2024: 3 candidates step down 

Nigeria’s Federal Executive Council approved a proposed budget of 47.9 trillion naira for the 2025 fiscal year. 

Nigeria approves ₦47.9trn 2025 budget - plans $1.7bn Eurobond 

Most challenges limiting business growth in Nigeria increased significantly in October this year. That’s according to the NESG-Stanbic IBTC’s October business performance index which dropped to 23.24. 

NESG-Stanbic IBTC business performance index fell to 23.24 in October

African resource-intensive countries need deep reforms and face an urgent need to diversify away from the resource sector for more durable and inclusive growth. 

IMF: SSA countries need deep reforms to revive growth, ensure resilience

Nigeria’s President Bola Tinubu says the country has attracted about $30 billion in Foreign Direct Investments and commitments in almost 2 years. 

Will Nigeria sustain foreign investors buy-in?

Oil prices are reversing previous gains seen this week due to a stronger dollar and worries of higher global output amid weak demand growth forecasts in China, India and other regions. 

Dynamics shaping global oil demand in 2024

The Nigerian National Petroleum Company Limited says one of its subsidiaries, the NNPC Gas Marketing has agreed to supply 100 million standard cubic feet of gas per day to the Dangote oil refinery for the next 10 years. 

NNPCL, Dangote Refinery sign 10-year gas sale deal

The biggest external stress factors for founders in Africa today are raising funds, inflation and currency devaluation among other macroeconomic challenges. 

Flourish Ventures: Raising funds, inflation & currency devaluation top stressors

The International Monetary Fund says continued policy discussions with the Gambia mainly focus on the fiscal trajectory for 2024 and 2025 with the aim of maintaining fiscal responsibility. 

Will the Gambia sustain economic growth?

Fitch Solutions says it expects the naira to slide to as low as 1,993 naira per dollar in 2028. Fitch also believes the initiatives by the Central Bank of Nigeria are yet to stabilise the FX market, adding that the ongoing flexibility of the exchange

Fitch: Nigeria's FX market yet to stabilise  

Samuel Aladegbaye, Investment Research Analyst, at Zedcrest Wealth joins CNBC Africa for this discussion.

Zedcrest forecast brent to average $68 & $73/barrel in 2025

Cocoa farmers in Ghana will get 49,600 cedis per metric ton for their produce with immediate effect. This is due to a second increase in farmgate price by the government for the 2024/25 season to help boost farmers' incomes. 

NIGERIA