Niger Delta activist Asari Dokubo pledges support for President Bola Ahmed Tinubu’s 2027 re-election, citing decades of loyalty and shared history since 1992.
The Central Bank of Nigeria mandates banks to enhance cash availability, enabling a stress-free festive season for Nigerians amid rising digital transactions.
Billionaire Elon Musk is at risk of losing his title of world's wealthiest person to Oracle co-founder Larry Ellison, whose software giant stands poised for massive AI riches. Ellison, 81, amassed more than $100 billion in additional wealth Wednesday as Oracle shares skyrocketed after the nearly 50-year old company forecast massive revenue growth amid the artificial intelligence investment boom.
Italy is expected to enjoy a good 2025 harvest and clinch the world's leading producer label once again, according to estimates presented Wednesday by Italy's agriculture ministry and its wine union. Overall, Italy is regaining a lead over France, the world's second largest producer, and expected to produce 37.4 million hectolitres.
The disparity between the official foreign exchange window and the black market has narrowed to just N10 as the naira continued its surge in the forex market.
A US Senate committee on Wednesday advanced the nomination of President Donald Trump's choice to join the Federal Reserve board, despite concerns that he might not resign from the White House even if confirmed. Stephen Miran, who chairs the White House Council of Economic Advisers (CEA), passed the Senate Banking Committee's vote by 13-11, with Democratic lawmakers opposing the advancement.
US producer prices unexpectedly fell in August, government data showed Wednesday, driven in part by a pullback in energy and trade -- and prompting President Donald Trump to renew calls for lower interest rates. He reiterated his calls for Federal Reserve Chair Jerome Powell to lower rates "right now," calling the central bank chief "a total disaster."
Oracle shares surged more than 35 percent in early trading Wednesday after the software giant projected massive revenue growth based on contracts tied to artificial intelligence. Oracle projected that its cloud business revenues would grow 77 percent in the current fiscal year to $18 billion.
Data from the Nigerian Exchange Limited (NGX) has revealed that foreign inflows into the Nigerian stock market rose by 354.4% in 2025 to N609.73 billion.
Shares in Zara owner Inditex, the world's largest fashion retailer, soared on Wednesday as a positive start to the autumn season enthused investors and eclipsed slower-than-expected sales growth. "The results were bad, but the market is reacting very positively to this growth figure because it means returning to the levels Inditex had got us used to," XTB analyst Javier Cabrera wrote in a note.
The Nigerian currency, the naira, is on a bullish run against the US dollar, appreciating to N1,497 per dollar and N1,525 in the parallel segment of the FX market.
Economy
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