Issue #232802: Nigeria, a Dollar Casualty / NGX Breaks Records / That Energy Business

I hope you’ve had a good week so far.

Let’s start with the stories for this issue:

Africa Becomes A Casualty In The War Against Inflation As Dollars Dry Up

8 min read

This article explains how African countries are suffering from a hard currency shortage due to pandemic-induced supply chain disruptions, global recession, and surging inflation in the developed world. The lack of hard currencies has caused local currencies to weaken, leading to high inflation and a decline in economic growth. To counteract this, African countries must increase exports, create domestic production, and attract foreign investments to ease the pressure.

Nigeria Stock Market at highest level in 15 years, gain 18.9% in the first half of 2023

5 min read

The Nigerian Exchange Limited (NGX) concluded the first half of the year on a positive note, with the NGX All-Share Index reaching its highest level in 15 years due to increased buying activity from investors, who responded favorably to government policies and the peaceful transition to power following the 2023 elections.

FG urged to protect $500m energy drink business

1 min read

This article encourages the Nigerian government to protect the local energy drink industry, which has invested over $500 million and provides direct employment to over 2,000 Nigerians, from foreign competition in order to secure the health of Nigerians, stimulate investment, and protect local businesses.

Tinubu’s Reforms Project Huge Economic Growth For Nigeria, Says Olawepo-Hashim

4 min read

This article highlights the economic reforms being implemented by President Bola Tinubu in Nigeria, which are expected to create jobs, attract investment, and ultimately lead to the country becoming the 9th largest economy in the world by 2050. Olawepo-Hashim has emphasized the importance of social intervention to cushion the effects of inflation on the poor, as well as the creation of a unified exchange rate to increase confidence in the new government.

The financial future of Nigeria is being decided

3 min read

This article discusses Nigeria’s fight against Process & Industrial Developments (P&ID) and the potential implications for the country, the African continent, and future generations if the government rejects a settlement and stands up against corruption.

Total Energies commits to renewable assets, shareholders okay N7.13b dividend

2 min read

Total Energies Marketing Nigeria Plc has increased shareholders’ value by developing a portfolio of renewable energy assets, paying a dividend of N25 per share and introducing new services such as touch points and solarised service stations which provide customers with the opportunity to withdraw, deposit or pay bills.

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