Finance

Africa, the world’s second-largest continent, has seen a significant shift in its export landscape over the past few decades. From primarily exporting to Western nations 30 years ago, the continent has diversified its markets, with Asia now being the primary destination.  This article delves into Africa’s top 10 export partners…

The Nigerian banking sector has some financial institutions that have emerged as the powerhouses of the industry, demonstrating a rich asset. These richest banks, with their extensive assets and strong market presence, represent the epitome of success and stability in the country’s financial landscape. As Nigeria’s economy continues to thrive…

The incoming administration of Nigeria’s President-elect Bola Tinubu has proposed the development of a consumer credit system to boost investment in local manufacturing and real estate. While this move is expected to have far-reaching benefits, experts warn that implementing a credit system in Nigeria could be challenging, given the large…

Every day, business owners deal with a variety of difficulties, including backroom inventory overflow, scheduling issues, and messy finances.  Messes can harm a business if they are not controlled. They also bring headaches and late nights. Many small businesses are unaware that an astounding 80% of American firms fail within…

United Kingdom’s minister for Africa, Vicky Ford, stated in March that the Nigerian energy sector will receive $12 million (N6 billion) in concessional funding. Ms. Ford claims that the fund will support Nigeria’s COP26 obligations and assist in lowering the risk faced by pension and insurance funds when investing in…

Elon Musk made a pitch to improve Twitter when he decided to purchase the company in April for $44 billion. He promised to offer new services, stop spam bots, and be more open about the algorithms used by the company. A group of banks agreed to lend him more than…

The Profit of the UBA increased by 8.7% from $260.9 million (N109.16 billion) in 2020 to $283.6 million (N118.68 billion) in 2021. The financial institution, United Bank for Africa plc (UBA), chaired by Nigerian billionaire Tony Elumelu generated $283.6 million (N118.68 billion) at the end of 2021. The leading pan-African…

Nigerian loans abroad are piling up, especially those sourced from China, which has been on an upward trend since President Muhammadu Buhari‘s tenure began in 2015. This has been a source of worry to many Nigerians. However, Minister of Transportation Rotimi Amaechi feels there is too much noise around the…

As most African countries’ public debts stocks continue to steadily rise, many have shown concerns about the debt crisis which shares similarities to the situation in the early 2000s. Several African countries, through a succession of excessive borrowing in the early 2000s, had gotten into considerable debt. Repayments began to…

The Nigerian government under President Muhammadu Buhari’s administration, has been riddled with financial irresponsibility. This is evident in the dramatic increase of public debt in the country which has grown three times more than the aggregate number recorded by the preceding three administrations. After successfully getting a write-off by the…