Nigeria’s economic stability could face significant hurdles if the government fails to meet its fiscal deficit reduction targets, according to a recent warning from Fitch Ratings. The global credit rating agency emphasized that missing these targets could lead to further naira depreciation, higher inflation, and increased borrowing costs, undermining the government’s reform agenda. Fiscal Deficit…
The Democratic Republic of the Congo (DRC) has taken a bold step by filing criminal complaints against Apple’s subsidiaries in France and Belgium. The accusations center on the alleged use of “conflict minerals” in Apple’s supply chains, raising questions about the ethical practices of one of the world’s largest tech companies. This case has reignited…
On Wednesday, December 18, President Bola Tinubu presented the 2025 appropriation bill before the 10th National Assembly. The budget, titled “Budget of Restoration: Securing Peace, Rebuilding Prosperity,” is the second presented by Tinubu as Nigeria’s president. The proposed budget stands at ₦49.7 trillion, with allocations detailed for various sectors of the economy. President Tinubu emphasized…
The exchange rate between the Nigerian naira and the U.S. dollar slid back to around N1,745/$1 on the parallel market as of Wednesday, December 11. This marks a sharp reversal from the sub-N1,600 levels recorded late last week, fueling concerns over the currency’s stability. An earlier report had quoted the exchange rate at approximately N1,685/$1,…
A monument commemorating Yevgeny Prigozhin and Dmitry Utkin, the late leaders of Russia’s Wagner Group, has been unveiled in Bangui, the capital of the Central African Republic (CAR). The statue, a symbolic gesture reflecting the deep ties between CAR and the Wagner Group, was revealed during a ceremony attended by Defense Minister Rameau Claude Bireau…
Burkina Faso’s political landscape has undergone a dramatic shake-up as Captain Ibrahim Traoré, the country’s military leader, dismissed Interim Prime Minister Apollinaire Joachim Kyelem de Tambela and dissolved the government on Friday. The announcement came via a decree issued by Traoré’s office, though no explanation was provided for the decision. Apollinaire Joachim Kyelem de Tambela…
Bitcoin has shattered the $100,000 mark for the first time, driven by optimism that U.S. President-elect Donald Trump will spearhead measures to deregulate cryptocurrencies when he assumes office next month. The cryptocurrency hit $100,010 in early Asian trading on Thursday, continuing a blistering rally since Trump’s election victory on November 5. The digital asset has…
French nuclear company Orano has lost control of its Somair uranium mine in Niger, citing governance issues and interference from Nigerien authorities. This development marks another chapter in the strained relations between Niger and France following a military coup in the West African nation last year. Niger, which accounts for approximately 4% of global uranium…
Health authorities in Congo’s Kwango province are investigating a mysterious flu-like illness that has caused dozens of deaths in just two weeks according to Reuters. The outbreak, which began in the Panzi health zone, has raised concerns as symptoms include fever, headache, cough, and anaemia. The deaths were recorded between November 10 and November 25,…
Egyptian authorities have apprehended a man in Upper Egypt for illegally possessing hundreds of ancient artefacts, the country’s Interior Ministry announced on Monday. The suspect, whose identity has not been disclosed, allegedly acquired the relics through unlawful excavation. The artefacts, seized in Assiut Governorate, include statues, coins, masks, pottery, and amulets spanning multiple historical periods….