Economy

Oil prices extended their decline yesterday, with Brent crude sinking to around $68 per barrel, deepening concerns for African economies reliant on petroleum revenues. At the same time, African nations are stepping up diplomatic efforts to...

By Ebi Kesiena The Nigeria Labour Congress (NLC) has issued a strong warning to the Nigerian Government, vowing to mobilize workers and citizens for a nationwide protest if the proposed electricity tariff hike is implemented. Describing...

A new report from the African Export-Import Bank (Afreximbank) reveals that Nigeria, along with nine other African nations, is responsible for 69 percent of the continent’s total external debt. The document, titled African Debt Outlook: A...

Germany has halted new financial aid to Rwanda over accusations that it is backing the M23 rebel group in eastern Congo, the country’s development ministry announced on Tuesday. The ministry stated that, "in consultation with partners,"...

Tech billionaire Elon Musk on Sunday signalled support for the United States to withdraw from NATO and the United Nations. His response came in agreement with a post on X, the social media platform previously known...

Other African nations are making significant strides in uncovering new crude oil reserves, while Nigeria has been noticeably absent from the latest discoveries. Recent data from S&P Global reveals that Africa accounted for 35 percent of...