News

Africa struggled to attract Foreign Direct Investment (FDI) in 2025 as inflows fell by 38 percent, even as global FDI rebounded by 14 percent, according to preliminary estimates by the United Nations Conference on Trade and Development (UNCTAD).

Nigeria is set to become Africa’s second commercial cloves producer as 74,000 farmers prepare to join the maiden nationwide cloves farming initiative ahead of the 2026 wet season.

The data was released by the Central Bank of Nigeria (CBN) as part of its latest monetary and credit statistics.

The development is based on the latest external reserves data released by the Central Bank of Nigeria (CBN) dated January 22, 2026.

‎Nigeria’s oil sector reforms are beginning to yield tangible results, with Chevron Nigeria Limited recording its third successful exploration discovery.

Nigeria’s newly established Office of the Tax Ombud has pledged to restore taxpayer confidence and strengthen voluntary compliance.