Economy Intelligence

The naira strengthened against the dollar at the Nigerian Foreign Exchange Market (NFEM), with a weekly appreciation of N13.55, driven by improved market liquidity and a high weekly turnover of $1.98 billion. However, the local currency weakened slightly on a day-on-day basis, and the gap between the official and parallel market rates narrowed....

Workers at the Ghana Highway Authority (GHA) have voiced concerns regarding the government's "Big Push" road development program. The workers, represented by their union, fear the project may encounter significant obstacles due to unresolved challenges within the Authority. These challenges include inadequate resources, outdated equipment, and...

Global oil prices experienced a decline, falling below $100 per barrel on Thursday due to increased optimism regarding a potential agreement between the United States and Iran. This agreement could lead to the reopening of the Strait of Hormuz. Brent Crude futures decreased during European morning trading, reversing gains from Asian markets. The...

The Bank of Namibia maintained its benchmark interest rate at 6.50% for the third consecutive meeting, citing global uncertainty and potential price pressures, while adjusting its growth forecasts for 2026 and 2027.

Gbenga Onitilo, Principal Managing Partner of Aeronexus Partners Ltd, criticizes the Federal Airports Authority of Nigeria (FAAN) for imposing high charges on passengers, airlines, and airport businesses, which he believes are unsustainable and prioritize revenue generation over growth and efficiency.

The Ghana Gold Board (GoldBod) has achieved significant improvements in operational efficiency, growing its revenue by over 300% while reducing expenditure, despite a major expansion in staff strength and institutional mandate.

The naira strengthened slightly against the dollar in the official foreign exchange market, despite zero turnover and no recorded deals, due to limited transactions in an illiquid environment. The parallel market rate remained steady, and the gap between the official and parallel market rates widened. Nigeria's external reserves continued their...

Air freight demand in Africa increased by 7% in March, while global demand dropped by 4.8% due to the ongoing crisis in the Middle East, according to a report by the International Air Transport Association (IATA). The strongest rise in demand was seen in Africa, while Middle Eastern carriers saw a 54.3% year-on-year decrease in demand. IATA's...

Nigeria's private sector experienced a contraction in April 2026, with the Purchasing Managers' Index (PMI) falling to 49.4 points, according to the Central Bank of Nigeria (CBN). This marks the first decline in business activity after 16 months of expansion, driven by weakening demand and slowing business. The composite index revealed that output...

Nigeria's maritime sector is facing significant inefficiencies, resulting in an estimated N7.97 trillion yearly loss, according to a presidential advisory paper by the Sea Empowerment and Research Centre (SEREC). The report highlights issues such as misplaced priorities, underutilized infrastructure, and a lack of coordination in cargo strategy....