Angélique Kidjo teams up with Davido and Ayra Starr for new album “Hope!!”

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March 10, 2026

KEY POINTS

The Iraqi Civil Aviation Authority has announced a new 72-hour extension of its airspace closure.
The suspension started at 12:00 p.m. local time on Tuesday and will last until 12:00 p.m. on Friday.
The move affects all arriving, departing, and transiting aircraft across Iraq.
This is a “precautionary measure” following the ongoing conflict between the U.S., Israel, and Iran.

MAIN STORY

The Iraqi Civil Aviation Authority has pushed back the reopening of its airspace, announcing another 72-hour closure starting Tuesday afternoon. In a statement, the authority explained that the extension will run until Friday at noon. This decision means that no planes—whether they are landing, taking off, or just flying through Iraqi skies—will be allowed to operate during this window.

Officials described the move as a “temporary precautionary measure” based on constant security checks. This comes as tensions in the Middle East reached a new high following joint U.S.-Israeli strikes on Iran that began on February 28. Iran has since hit back with attacks on Israel and U.S. assets throughout the region, making the skies over Iraq a high-risk zone for commercial travel.

The Iraqi government said it will keep reviewing the situation as new updates come in. For now, the closure is creating a major hurdle for international airlines that usually use Iraqi paths to connect Europe and Asia. Many flights are now being forced to take longer, more expensive routes to avoid the danger zones.

WHAT’S BEING SAID

The authority called the suspension a “temporary precautionary measure” designed to keep passengers and crew safe.
Aviation experts noted that the move follows “heightened tensions” caused by the recent exchange of strikes between the U.S., Israel, and Iran.
Travel agencies have warned that the situation will be “reviewed in light of any updates,” meaning further extensions are possible if the fighting continues.

WHAT’S NEXT

Airlines Re-routing: Major carriers will continue to bypass Iraq, leading to longer flight times and higher fuel costs for trips to and from the Middle East.
Friday Review: All eyes will be on the 12:00 p.m. deadline on Friday to see if the Iraqi government feels it is safe enough to reopen the skies.
Travel Alerts: Passengers booked on flights through Baghdad or Erbil are advised to check with their airlines for cancellations or new schedules.

BOTTOM LINE

The Bottom Line is that the skies over Iraq remain a “no-go” zone for at least another three days. As long as the U.S., Israel, and Iran are trading blows, Iraq is choosing to keep its airspace locked tight to avoid any accidental tragedies in the middle of a war zone.

Sterling Bank and Ministry of Finance team up for n100m mortgage deal

Sterling Bank and Ministry of Finance team up for n100m mortgage deal

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March 10, 2026

Sterling Bank donates ₦250 million — Sterling Bank Donates ₦250 million to Nigerian Private Sector Coalition Against COVID-19

KEY POINTS

Sterling Bank has partnered with the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF) to launch a long-term mortgage plan.
Eligible Nigerians can now access home loans of up to ₦100 million with a low fixed interest rate of 9.75% per year.
The plan allows for a long repayment period of up to 20 years, making it easier for people to pay back over time.
To start, the fund has a ₦10 billion commitment, with plans to grow as more people apply for the scheme.

MAIN STORY

Sterling Bank has officially joined forces with the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF) to launch a new mortgage initiative. The move is aimed at cutting down Nigeria’s large housing deficit by making it easier for citizens to own their own homes.

The agreement was signed at Sterling Bank’s headquarters in Lagos, promising to open up homeownership to a wider range of Nigerians through cheaper financing.

Under this new deal, people can apply for mortgage loans of up to ₦100 million. A major highlight of the plan is the interest rate, which is fixed at about 9.75% per year—much lower than many other commercial loans. Additionally, homeowners have up to 20 years to finish their repayments. To make it even easier to get started, the bank only requires a 10% down payment (equity), meaning the mortgage covers up to 90% of the house’s value.

David Adebayo, Vice President of Consumer Banking at Sterling Bank, said the partnership shows the bank’s commitment to helping Nigerians own homes in a way they can afford. Mounir Bouba from ARM Investment Managers, who manages the fund, added that this public-private cooperation is key to solving Nigeria’s housing challenges. The program is open to salary earners, business owners with good records, and even Nigerians living abroad.

WHAT’S BEING SAID

“By combining competitive pricing with longer tenors… we are lowering the barriers to homeownership,” said David Adebayo, Vice President at Sterling Bank.
Mounir Bouba of ARM Investment Managers noted that the deal helps “catalyse private capital” to fix the housing shortage.
The bank emphasized that the plan is built for “salary earners, business owners, and Nigerians in the diaspora.”

WHAT’S NEXT

Application Window: Both new and existing Sterling Bank customers can begin applying for the facility through the bank’s mortgage portals.
Fund Expansion: While the starting commitment is ₦10 billion, managers plan to increase this amount as more Nigerians sign up.
Property Partnerships: Sterling Bank is expected to work with real estate developers to list homes that qualify specifically for this 90% financing deal.

BOTTOM LINE

The Bottom Line is that Sterling Bank and the Ministry of Finance are making it cheaper to stop renting and start owning. By offering a 9.75% interest rate and a 20-year window, they are removing the high costs that usually stop Nigerians from getting a mortgage.

Tinubu awaits Senate confirmation Of Taiwo Oyedele , Abe for NUPRC chair

Manufacturers pay ₦875bn VAT as industrial sector leads non-oil revenue

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March 10, 2026

KEY POINTS

Manufacturing companies in Nigeria paid ₦875.42 billion in Value Added Tax (VAT) between January and September 2025.
This represents a 54.7% increase compared to the same period in 2024, when the sector paid ₦309.41 billion less.
The sector remains the top contributor to Nigeria’s VAT revenue, accounting for over 25% of total collections in the third quarter of 2025.
Experts warn that the jump in tax payments is partly due to rising prices and inflation, rather than a real growth in factory production.

MAIN STORY

The manufacturing sector has continued to lead Nigeria’s non-oil tax revenue, with VAT payments from the sector jumping by 54.7% in the first nine months of 2025. According to the latest report from the National Bureau of Statistics (NBS), manufacturers paid a total of ₦875.42 billion during this period.

This figure is already 51.3% higher than the ₦578.39 billion the entire sector paid in the full year of 2023, showing how quickly tax collections from factories are growing.

A breakdown of the numbers shows that manufacturing was the biggest contributor to VAT in 2025, holding a 25.89% share in the third quarter. It also led in the first and second quarters with over 26% and 27% respectively. Other top sectors included Information and Communication at 18.77% and Mining at 14.85%. Economists say these figures show that the government is leaning more on the industrial sector to fund public spending as it moves away from relying solely on oil.

However, industry experts and the Manufacturers Association of Nigeria (MAN) have raised concerns. While the tax numbers are high, analysts say this is partly because of higher product prices, rising costs, and the fall of the naira, which have all pushed up the taxable value of goods. The Director General of MAN, Segun Ajayi-Kadir, warned that high taxes are putting too much pressure on companies. He noted that the high VAT burden is passed on to consumers, which hurts their ability to buy goods and makes Nigerian products less competitive against foreign ones.

WHAT’S BEING SAID

“The high VAT rate… makes Nigerian products less competitive both locally and internationally,” said Segun Ajayi-Kadir, Director General of MAN.
Analysts cautioned that the rise in VAT does not necessarily mean factories are producing more, but that “inflation-driven price adjustments” have inflated the tax figures.
Economists noted that the surge underscores the sector’s “expanding fiscal significance” as the government looks for more non-oil money.

WHAT’S NEXT

Demand Watch: Manufacturers are worried that higher prices from VAT will lead to more “unsold inventory” as consumers struggle to buy goods.
Policy Debates: There is ongoing pressure from MAN for the government to avoid further VAT increases to prevent a “demand crunch.”
Year-End Report: Investors and policymakers are waiting for the Q4 2024 results to see if the manufacturing sector will cross the ₦1 trillion mark in total VAT for the year.

BOTTOM LINE

The Bottom Line is that while the government’s pockets are getting fuller from manufacturing taxes, the factories themselves are feeling the pinch. If the high cost of doing business and high taxes aren’t balanced, the very sector funding the government might struggle to keep people employed and keep prices low for the average Nigerian.

Nigeria’s foreign reserves climb to highest level since 2009

Nigeria’s foreign reserves climb to highest level since 2009

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March 10, 2026

By Boluwatife Oshadiya | March 10, 2026

Table of Contents

Key Points

Nigeria’s external reserves rise to about $50 billion, highest since 2009
Central Bank attributes growth to FX reforms, improved oil earnings, and remittances
Analysts say stronger reserves could support naira stability and import cover

Main Story

Nigeria’s gross external reserves have climbed to nearly $50 billion, marking the country’s highest reserve level since January 2009, according to new data released by the Central Bank of Nigeria (CBN).

The latest figures show reserves rising to about $49.9 billion, representing an increase of $4.441 billion compared with the $45.502 billion recorded at the end of 2025.

CBN Governor Yemi Cardoso disclosed in a recent statement that the country’s foreign reserves had reached $50.45 billion as of February 16, 2026, although the official figure on the central bank’s website reflects a slightly lower amount due to reporting lags in the system.

The current reserve level brings Nigeria close to the $50.5 billion recorded in early 2009, the last time the country maintained a similar external buffer.

Economists attribute the improvement to several factors, including declining fuel import costs, stronger foreign exchange inflows, and the impact of recent foreign exchange market reforms introduced by the central bank.

Nigeria’s reserves serve as a key financial buffer for the economy, helping the government manage external shocks, stabilize the currency, and finance imports such as food, machinery, and refined petroleum products.

The buildup also reflects improved diaspora remittances and increased oil receipts, as global crude prices and production levels have gradually recovered following disruptions in recent years.

The Issues

Nigeria’s foreign reserves have fluctuated significantly over the past decade due to oil price volatility, rising import bills, and persistent pressure on the naira.

The country relies heavily on oil exports for foreign exchange earnings, making reserves vulnerable to swings in global crude markets and domestic production challenges such as pipeline vandalism and theft.

In recent years, the CBN has introduced several reforms aimed at restoring confidence in Nigeria’s foreign exchange market, including exchange rate unification and tighter FX liquidity management.

Economists say a sustained reserve buildup is essential for improving investor confidence, ensuring adequate import cover, and supporting the central bank’s efforts to stabilize the naira amid inflationary pressures.

What’s Being Said

“Nigeria’s gross external reserves have crossed the $50 billion threshold, reflecting stronger foreign exchange inflows and improved market confidence,” Cardoso said in the CBN statement.

Market economists say the development signals gradual progress in stabilizing Nigeria’s macroeconomic environment.

“Rising reserves provide the CBN with more ammunition to defend the naira if volatility returns to the foreign exchange market,” said Bismarck Rewane, Chief Executive Officer of Financial Derivatives Company.

However, analysts caution that maintaining the momentum will depend heavily on sustained oil production and continued policy consistency.

“The reserve position is improving, but Nigeria still needs structural export diversification to reduce its dependence on oil revenues,” said Muda Yusuf, Chief Executive Officer of the Centre for the Promotion of Private Enterprise.

What’s Next

Investors will closely watch the CBN’s next Monetary Policy Committee meeting for signals on how stronger reserves could influence currency management
The central bank is expected to publish updated reserve figures in its upcoming monthly economic report
Analysts say sustained inflows from oil exports and diaspora remittances will determine whether reserves remain above the $50 billion threshold

Dollar to Naira exchange rate today, March 10th, 2026

Tinubu awaits Senate confirmation Of Taiwo Oyedele , Abe for NUPRC chair

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March 10, 2026

By Boluwatife Oshadiya | March 10, 2026

Table of Contents

Key Points

President Bola Tinubu asks Senate to confirm Taiwo Oyedele as Minister of State for Finance
Former Rivers senator Magnus Abe nominated chairman of Nigerian Upstream Petroleum Regulatory Commission
Two additional nominees submitted for NUPRC non-executive commissioner positions

Main Story

President Bola Ahmed Tinubu has formally requested the Senate to screen and confirm Mr. Taiwo Oyedele as Nigeria’s Minister of State for Finance, replacing Dr. Doris Uzoka-Anite, as part of adjustments within the Federal Executive Council.

The request was contained in a letter read on the Senate floor on Tuesday by Senate President Godswill Akpabio during plenary proceedings in Abuja.

Oyedele, a respected economist and tax policy specialist from Ikaram in Akoko, Ondo State, currently serves as chairman of the Presidential Committee on Fiscal Policy and Tax Reforms. The committee has been leading a sweeping review of Nigeria’s tax framework aimed at simplifying the country’s complex tax structure, improving compliance, and expanding government revenue.

Before his appointment into public service, Oyedele spent more than two decades at global consulting firm PwC, joining in 2001 and rising to become Fiscal Policy Partner and Africa Tax Leader. Over the years, he has advised governments and multinational companies on tax strategy, fiscal policy reforms, and revenue administration.

In a separate letter to the Senate, President Tinubu also nominated Senator Magnus Abe, a former lawmaker who represented Rivers South-East Senatorial District, as Chairman of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

Abe’s nomination follows the resignation of Gbenga Komolafe, who previously headed the upstream regulator responsible for overseeing oil exploration, licensing, and production activities in Nigeria’s petroleum sector.

The President also forwarded the names of Paul Yaro Jezhi, a former chairman of the Trade Union Congress in Kaduna State, and Sunday Adebayo Babalola, a former deputy director at the now-defunct Department of Petroleum Resources (DPR), as nominees for non-executive commissioner positions at the NUPRC.

Following the reading of the President’s correspondence, Akpabio referred the nominations to the Senate Committee on Petroleum Upstream for legislative review and confirmation proceedings.

What’s Being Said

“The Senate has received a request from the President seeking the screening and confirmation of the nominees,” Akpabio said while reading the communication during plenary.

Policy analysts say Oyedele’s potential appointment signals continuity in the administration’s fiscal reform agenda.

“Oyedele has already been at the center of the tax reform process. His transition into the finance ministry could accelerate the implementation phase of those policies,” said Dr. Uche Uwaleke, Professor of Capital Markets at Nasarawa State University.

Energy industry observers also see Abe’s nomination as a strategic political and sectoral move.

“The NUPRC is one of the most powerful regulators in Nigeria’s oil industry. Leadership there influences licensing rounds, upstream investments, and compliance with the Petroleum Industry Act,” said Ayodele Oni, Energy Lawyer and Partner at Bloomfield Law Practice.

What’s Next

The Senate Committee on Petroleum Upstream will conduct screening hearings for Abe and the NUPRC commissioner nominees in the coming days
Oyedele’s confirmation hearing is expected before the Senate Committee on Finance
If confirmed, the appointments will form part of ongoing restructuring within Tinubu’s economic management team

Dollar to Naira exchange rate today, March 10th, 2026

Garanti BBVA and Mastercard launch Türkiye’s first AI shopping assistant

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March 10, 2026

KEY POINTS

Garanti BBVA and Mastercard have introduced an AI-powered shopping assistant, a first for the banking sector in Türkiye.
The solution enables “agentic commerce,” where AI assistants autonomously search, compare, and pay for products within the bank’s mobile apps.
Built on Mastercard’s Agent Pay technology, the system prioritizes security and transparency, ensuring the user’s intent is at the center.
The tool will soon be available to consumers through the Garanti BBVA Mobil and Bonus Flaş platforms.

MAIN STORY

Garanti BBVA, a leader in digital banking innovation, has teamed up with Mastercard to launch a groundbreaking AI-powered shopping assistant. This new tool allows customers to handle their entire shopping journey, from finding a product to paying for it without ever leaving their banking app.

The project was officially showcased at a special event featuring top executives from both companies, marking the first time “agentic commerce” has been fully implemented in Türkiye’s banking industry.

The AI assistant doesn’t just follow simple commands; it actually “reasons” and plans. It can find the best options for a user, compare prices, and complete the payment securely. To make sure everything is safe, the communication between the AI agent and the merchant follows Mastercard’s global security standards. This means the payment step becomes “invisible” and fits naturally into the user’s daily life, rather than being a separate, clunky transaction.

Ceren Acer Kezik, Executive Vice President at Garanti BBVA, explained that the bank wants to move beyond simple financial steps to create an ecosystem that adapts to how people live. By using data to understand what a customer actually needs, the bank can offer a hyper-personalized experience. Mastercard’s General Manager for Türkiye and Azerbaijan, Onur Faydacı, added that Türkiye’s strong digital infrastructure makes it the perfect place to launch this kind of global technology hub.

WHAT’S BEING SAID

“Our goal is to transform payment from a mere ‘transaction step’ into an invisible, frictionless, and secure experience,” said Ceren Acer Kezik, EVP of Retail Banking at Garanti BBVA.
“By setting standards for transactions carried out through AI agents, we will make these processes discoverable, tokenized, and authenticated,” noted Onur Faydacı, General Manager of Mastercard Türkiye and Azerbaijan.
The companies described the move as the “dawn of agentic commerce,” moving beyond executing commands to actual autonomous planning.

WHAT’S NEXT

App Integration: The AI assistant will officially go live on the Garanti BBVA Mobil and Bonus Flaş apps for all cardholders.
Merchant Expansion: More retailers, following the demo participation of Atelier Rebul, are expected to join the ecosystem to accept agent-led payments.
Global Hub: Mastercard plans to use the success of this launch in Türkiye to further develop agentic payment technologies for other international markets.

BOTTOM LINE

The Bottom Line is that Garanti BBVA and Mastercard are making shopping a lot easier by letting AI do the heavy lifting. By turning the banking app into a personal shopping assistant that can pay for things on its own, they are moving toward a future where “buying” is just a natural part of your day, not a chore.

Dollar to Naira exchange rate today, March 10th, 2026

Jaiz bank appoints Omolara Ismail as executive director to drive SME growth

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March 10, 2026

KEY POINTS

Jaiz Bank Plc has named Omolara Muinat Ismail as its new Executive Director to help grow its retail and SME banking business.
The appointment, which took effect on February 28, 2026, has been approved by the Central Bank of Nigeria (CBN).
Mrs. Ismail has over 25 years of experience in banking and previously served as a General Manager at Jaiz Bank.
This leadership boost comes as the bank reports a jump in pretax profit to N31.3 billion for the 2025 financial year.

MAIN STORY

Jaiz Bank Plc has appointed Omolara Muinat Ismail as an Executive Director as part of its plan to strengthen its leadership and expand its non-interest banking footprint across Nigeria. In a statement signed by the Company Secretary, Mohammed Shehu, the bank explained that the move is aimed at reaching more customers in the retail and SME sectors.

The appointment is already official, having received the green light from the Central Bank of Nigeria (CBN).

Mrs. Ismail is coming into the role with a wealth of experience, having spent more than 25 years working in retail, commercial, and corporate banking. Before this new role, she was the General Manager in charge of Business Development and headed the bank’s Lagos and South Directorate. Her career also includes high-level roles at Guaranty Trust Bank, where she served as a director for its subsidiary in The Gambia. She is well-schooled, holding an MBA from both the University of Ilorin and Bangor University in the UK.

The bank is making this move at a time when its business is booming. Financial results for 2025 show that Jaiz Bank’s pretax profit climbed to N31.3 billion, a big jump from the N24.4 billion it made in 2024. Its income from financing and investing activities also shot up to N97.4 billion. With Mrs. Ismail on the executive team, the bank hopes to use her deep knowledge of the Lagos market and digital banking to keep this growth going and reach more small businesses.

WHAT’S BEING SAID

“The appointment aligns with its strategy to deepen market penetration and expand its non-interest banking footprint,” the bank stated in its notice to the NGX.
Jaiz Bank noted that the move strengthens its leadership as it looks to “consolidate its position in Nigeria’s financial services sector.”
Analysts say Mrs. Ismail’s background as a Chartered Banker and fellow of several institutes will bring a lot of technical “weight” to the bank’s board.

WHAT’S NEXT

Retail Expansion: Expect to see Jaiz Bank roll out more digital banking products specifically designed for small business owners in the South.
SME Partnerships: The bank will likely use Mrs. Ismail’s experience to form new strategic partnerships with credit administration bodies.
Financial Reporting: Investors will be watching the first-quarter results of 2026 to see if the leadership changes help maintain the bank’s high profit margins.

BOTTOM LINE

The Bottom Line is that Jaiz Bank is putting a seasoned expert in the driver’s seat to turn its big profits into even bigger market reach. By promoting Omolara Ismail, the bank is making a clear bet that her experience in the Lagos business hub will help it win over more retail and SME customers.

Tinubu vows Nigeria will defeat terrorism, Says economy is improving

Tinubu vows Nigeria will defeat terrorism, Says economy is improving

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March 10, 2026

Nigeria Ready To Welcome All Citizens - Tinubu — President Bola Ahmed Tinubu

By Boluwatife Oshadiya | March 10, 2026

Table of Contents

Key Points

President Bola Tinubu says Nigeria will not surrender to terrorists despite ongoing security threats
Tinubu says economic reforms have stabilised public finances and prevented bankruptcy
Religious and traditional leaders pledge support for government efforts on security and economic recover

Main Story

President Bola Tinubu on Monday said Nigeria would defeat terrorist groups threatening national stability and insisted the country’s economy was beginning to recover after difficult reforms implemented by his administration.

Tinubu gave the assurance while hosting religious and traditional leaders at an interfaith breaking of fast at the Presidential Villa in Abuja, where he also reaffirmed the government’s commitment to strengthening national unity and economic stability.

The President acknowledged that Nigeria continues to face security challenges but said intensified military operations were placing pressure on terrorist groups.

“Yes, we are challenged; the terrorists are very desperate now because they are getting barraged and defeated. They leave trails of blood in their wake. But I assure you of one thing: Nigeria will never surrender. We are not discouraged. We are going to win and win well,” Tinubu said.

He also told the gathering that the economic reforms implemented since his administration took office were beginning to produce measurable results, noting that public finances had stabilised and pensioners were gradually receiving relief.

“I can report that the economy has turned the corner. It is getting better. Pensioners are gradually getting relief. We have saved Nigeria from bankruptcy,” the President said, adding that the situation inherited by his government was “very daunting and challenging.”

Tinubu further stated that state governments were now in a stronger fiscal position, saying no governor was currently forced to rely on emergency bank borrowing to pay workers’ salaries.

The President said his administration would continue investing in critical sectors such as agriculture and education while pursuing policies aimed at building a safer and more prosperous country.

The Issues

Nigeria’s security landscape has remained under pressure for more than a decade due to insurgency in the North-East, banditry in the North-West, and other forms of violent criminal activity across several regions.

Successive administrations have increased defence spending and expanded military operations to address these threats, but attacks on civilians and communities have continued to pose risks to national stability and economic activity.

At the same time, the Tinubu administration has introduced a series of economic reforms aimed at stabilising public finances and restructuring Nigeria’s fiscal system. These include subsidy removal, currency policy changes, and efforts to improve government revenue generation.

The reforms have triggered short-term economic hardship for many households, but government officials argue they are necessary to prevent long-term fiscal instability and restore macroeconomic balance.

What’s Being Said

“I am just grateful, one person among millions, that I have been given the opportunity to serve. All I can do is promise that I will continue to be faithful in discharging my duty,” Tinubu said during the event.

Alhaji Yahaya Abubakar, the Etsu Nupe, who represented the Sultan of Sokoto and President of the Nigeria Supreme Council for Islamic Affairs, said the interfaith gathering reflected national unity.

“We thank the President for bringing together leaders of the two major religions in the country. This gathering symbolises unity, and we pray for peace, stability and divine guidance for Nigeria,” Abubakar said.

Archbishop Daniel Okoh, President of the Christian Association of Nigeria, also expressed support for the administration’s efforts to address economic and security challenges.

“The church will continue to support initiatives aimed at strengthening the economy and improving the security architecture of the country,” Okoh said.

What’s Next

The federal government is expected to continue security operations targeting insurgent and bandit groups across northern Nigeria in the coming months.
Tinubu’s administration is also expected to expand investment in agriculture and education as part of its broader economic recovery agenda.
Additional fiscal and economic policy measures may be announced later this year as the government seeks to stabilise inflation and improve public finances.

Dollar to Naira exchange rate today, March 10th, 2026

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How much is a dollar to naira today in the black market?

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March 10, 2026

The exchange rate between the Naira and the US dollar, according to the data released on the FMDQ Security Exchange, the official forex trading portal, showed that the naira closed at 1402 per $1 on Tuesday, March 10th, 2026. The naira traded as high as 1425 to the dollar at the investors and exporters (I&E) window on Monday. This is brought to you by Bizwatch Nigeria.

Table of Contents

Dollar to naira exchange rate today black market (Aboki dollar rate):

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1420 and buy at ₦1400 on Monday 9th March, 2026, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Dollar to Naira Black Market Rate Today

Dollar to Naira (USD to NGN)	Black Market Exchange Rate Today
Selling Rate	₦1420
Buying Rate	₦1400

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN)	CBN Rate Today
Highest Rate	₦1425
Lowest Rate	₦1402

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

Dangote fertilizer limited gains from global supply disruptions amid Iran conflict

NBMA launches capacity-building programme to strengthen biosafety, biosecurity

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March 10, 2026

KEY POINTS

NBMA has launched a train-the-trainer programme to strengthen biosafety, biosecurity and biorisk management in Nigeria.

The initiative is being implemented in collaboration with the National Open University of Nigeria.

Experts say strengthening technical capacity and public awareness is critical to the safe application of biotechnology.

MAIN STORY

The National Biosafety Management Agency (NBMA) has launched a capacity-building programme aimed at strengthening biosafety, biosecurity and biorisk management across Nigeria’s scientific and regulatory landscape.

Director-General of the agency, Bello Bawa Bwari, made this known during a Train-the-Trainer Capacity Building Programme held in Abuja and organised in collaboration with the National Open University of Nigeria (NOUN).

Bwari said the initiative comes at a time when biotechnology and life sciences are increasingly transforming sectors such as agriculture, medicine, environmental management and scientific research in Nigeria.

According to him, the rapid advancement of biotechnology presents new opportunities for national development while also requiring strong regulatory systems to ensure safety, responsible use and public confidence.

THE ISSUES

Experts say that while biotechnology offers significant benefits for food security, healthcare innovation and environmental sustainability, it also carries potential biological risks that must be carefully managed.

Without adequate biosafety frameworks and trained personnel, the deployment of modern biological technologies could pose risks to human health, biodiversity and ecosystems.

WHAT’S BEING SAID

Bwari emphasised that the agency remains committed to strengthening Nigeria’s capacity to manage biological risks and ensure compliance with national and international biosafety standards.

“As the national regulatory authority responsible for biosafety and biosecurity in Nigeria, we remain firmly committed to strengthening national capacity to effectively manage potential biological risks,” he said.

He noted that the training programme is designed to equip participants with the skills needed to transfer knowledge within their institutions, professional networks and communities.

Participants are expected to undergo intensive sessions covering biosafety principles, biosecurity practices, biorisk management systems, waste management and strategies for effective community engagement.

Also speaking at the event, Deputy Vice-Chancellor of the National Open University of Nigeria, Christine I. Ofulue, described the workshop as the first activity under a recently signed Memorandum of Understanding between the university and NBMA.

She said biosafety has become an increasingly critical priority globally as advances in biotechnology, genetic research and modern agricultural innovation continue to accelerate.

“Biosafety helps prevent harm to human health, protects biodiversity and safeguards our ecosystems from unintended consequences,” she said.

WHAT’S NEXT

The training is expected to create a network of certified trainers who will further disseminate knowledge on biosafety and biosecurity across academic institutions, research organisations and regulatory bodies.

Stakeholders say the initiative will also support Nigeria’s broader development agenda by promoting responsible innovation and strengthening public awareness of biotechnology practices.

BOTTOM LINE

By investing in training and knowledge transfer, NBMA aims to strengthen Nigeria’s biosafety ecosystem, ensuring that advances in biotechnology are applied responsibly while safeguarding public health, biodiversity and the environment.

Experts say government should team up with investors to fix refineries

Dangote fertilizer limited gains from global supply disruptions amid Iran conflict

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March 10, 2026

KEY POINTS

Rising geopolitical tensions involving the United States, Israel and Iran are disrupting global fertilizer supply chains.

Dangote Fertilizer says demand for its products has surged as buyers seek alternative suppliers.

The Lagos-based plant, Africa’s largest fertilizer facility, is expanding its global and continental footprint.

MAIN STORY

Dangote Fertilizer Limited is experiencing a surge in global demand for its products as geopolitical tensions involving the United States, Israel and Iran continue to disrupt fertilizer supply chains and unsettle commodity markets.

Vice President of Dangote Industries Limited, Devakumar Edwin, said buyers across multiple regions are increasingly turning to the company’s Lagos-based facility to offset supply shortages caused by reduced Iranian output.

Speaking in an interview with Bloomberg on Monday, Edwin said global demand had risen significantly as markets adjust to tightening supply.

“Demand has gone up substantially due to the shortage in the global market,” he said.

THE ISSUES

The ongoing tensions surrounding Iran have raised concerns over shipping operations in the Strait of Hormuz, a critical maritime corridor through which roughly one-third of global fertilizer shipments pass.

Any disruption along the route could significantly affect international supply chains, pushing buyers to seek alternative producers capable of meeting urgent demand.

WHAT’S BEING SAID

According to Edwin, the supply squeeze has created an opportunity for the Dangote facility to expand its export reach as international buyers look for reliable producers outside conflict-affected regions.

The Lagos-based fertilizer plant, owned by Aliko Dangote, Africa’s richest man, is currently the largest producer of granulated urea and ammonia on the continent.

With an annual production capacity of about three million tonnes, the facility exports a significant portion of its output, including about 37 per cent to the United States.

WHAT’S NEXT

Dangote Industries is also pursuing expansion plans to strengthen its position in the global fertilizer market.

The company’s founder, Aliko Dangote, has previously stated plans for the firm to challenge Qatar for the position of the world’s leading urea exporter within the next four years.

Beyond Nigeria, the group is expanding its footprint across Africa. In August 2025, Dangote signed a $2.5 billion agreement with the government of Ethiopia to construct a new fertilizer plant in the country’s Somali region.

BOTTOM LINE

As geopolitical tensions disrupt global fertilizer supply routes, Dangote Fertilizer is emerging as a key alternative supplier, strengthening its influence in the international agricultural inputs market while expanding its footprint across Africa.

Citizens advocacy for Social and Economic Rights petitions Minister over alleged FOI breach by NIMASA

Citizens advocacy for Social and Economic Rights petitions Minister over alleged FOI breach by NIMASA

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March 10, 2026

KEY POINTS

CASER has petitioned the Minister of Marine and Blue Economy over NIMASA’s alleged refusal to respond to an FOI request.

The request sought records relating to staff welfare safeguards, governance procedures and litigation involving Nigeria LNG Limited.

The group threatens legal action if the agency fails to respond within seven days.

MAIN STORY

The Citizens Advocacy for Social and Economic Rights (CASER) has petitioned the Minister of Marine and Blue Economy, Adegboyega Oyetola, over what it described as the failure of the Nigerian Maritime Administration and Safety Agency (NIMASA) to respond to a lawful request for information submitted under the Freedom of Information Act.

Executive Director of CASER, Frank Tietie, disclosed this on Monday while addressing journalists in Abuja and presenting an acknowledged copy of the petition received by the ministry.

Tietie said the organisation had earlier served NIMASA with a Freedom of Information request dated February 20, 2026, seeking access to public records relating to safeguards put in place to protect female staff within the agency.

The request also covered issues relating to administrative postings, procurement processes and internal governance procedures within the maritime regulatory body.

THE ISSUES

Under Section 4 of the Freedom of Information Act, public institutions are required to respond to requests for information within seven days, either by providing the requested details or by stating the statutory exemptions relied upon.

However, CASER alleged that NIMASA had neither released the information requested nor communicated any justification for withholding it, raising concerns about compliance with transparency and accountability laws in public administration.

WHAT’S BEING SAID

Tietie said the agency’s silence amounted to a violation of the provisions of the FOI Act.

“Under Section 4 of the Freedom of Information Act, NIMASA was required to respond within seven days either by providing the requested information or stating the specific statutory exemption relied upon,” he said.

“The agency’s silence constitutes a clear breach of its statutory obligations under the Act and reflects an unacceptable disregard for the law governing transparency in public administration.”

He further warned that the group would pursue legal action if the agency fails to comply with the request.

According to him, CASER would seek an order of mandamus from the Federal High Court compelling NIMASA to release the requested records and a declaration that the agency’s failure to respond violates the FOI Act.

WHAT’S NEXT

CASER has given the agency seven days from the receipt of its latest petition to comply with the request.

The group also called on the minister, as the supervising authority of NIMASA, to direct the agency to comply with the law and avoid what it described as unnecessary litigation that could further expose the agency to public scrutiny.

Among the documents requested are records relating to litigation involving Nigeria LNG Limited from 2023 to date, including legal opinions obtained, judgments or settlement agreements and any financial liabilities incurred.

BOTTOM LINE

The petition highlights growing concerns over transparency in public institutions, as civil society groups increasingly rely on the Freedom of Information Act to demand accountability and access to government records.

Women power Africa’s $59bn creative economy, says Boston Consulting Group Report

Local refineries won’t fully stop fuel price changes, says CPPE

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March 10, 2026

KEY POINTS

The Centre for the Promotion of Private Enterprise (CPPE) says having local refineries in Nigeria will not completely stop fuel prices from going up or down.
Dr. Muda Yusuf, Founder of CPPE, explained that this is because crude oil is priced using international benchmarks, no matter where it is refined.
Crude oil prices have jumped from $65 to over $100 per barrel in just a few weeks due to tensions in the Middle East.
While local refining helps with energy security and saving shipping costs, the price of the raw oil remains tied to the global market.

MAIN STORY

The Centre for the Promotion of Private Enterprise (CPPE) has explained that having domestic refineries in Nigeria cannot fully protect the country from changes in global fuel prices. In a statement on Monday in Lagos, the Founder of CPPE, Dr. Muda Yusuf, said this is because crude oil which is the main ingredient for making fuel is priced based on international standards.

This comes as global oil prices have spiked by over 50 per cent recently because of troubles in the Middle East.

Dr. Yusuf, who is also an economist, noted that when the price of crude oil goes up globally, the cost of refined products like petrol, diesel, and cooking gas also goes up everywhere, including Nigeria. He pointed out that many Nigerians expect local refineries to automatically make fuel very cheap, but the way refining works does not support that idea. He explained that even the crude oil supplied to local refineries is priced in U.S. dollars using global benchmarks.

However, the CPPE boss mentioned that domestic refining still has many good sides. For example, it helps Nigeria save money on shipping, marine insurance, and port charges that come with importing fuel. Refining oil at home also makes Nigeria’s energy supply more secure because the country will no longer have to rely so much on other nations for fuel. Additionally, the refining industry helps other businesses like those making fertilizers, plastics, and paints by providing them with the raw materials they need.

WHAT’S BEING SAID

“Fluctuations in crude oil prices are transmitted to domestic fuel prices in most economies, including Nigeria,” stated Dr. Muda Yusuf, Founder of CPPE.
He noted that while local refining doesn’t stop price changes, it “significantly reduces supply disruption risks and strengthens Nigeria’s energy security.”
Yusuf urged the government to provide a “supportive policy environment” to help local refiners stay competitive.

WHAT’S NEXT

Policy Support: The government is expected to look into better ways to ensure local refineries get a steady supply of crude oil.
Infrastructure Growth: There may be more focus on fixing pipelines and depots to make it easier to move locally refined fuel across the country.
Export Opportunities: As local production grows, Nigeria may start looking at selling refined fuel to neighboring countries to earn foreign exchange.

BOTTOM LINE

The Bottom Line is that while local refineries are great for making sure Nigeria doesn’t run out of fuel, they aren’t a magic wand for low prices. Since the “soup” is made from expensive global “ingredients,” the price at the pump will still follow the world market, even if we save money on the shipping.

Economist urges crude subsidies for local refiners to buffer global shocks

Experts say government should team up with investors to fix refineries

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March 10, 2026

KEY POINTS

Energy experts have told the Federal Government to work closely with credible investors to speed up fixing the country’s refineries.
This follows news that NNPCL is talking with Chinese firms about a deal to repair and run the oil plants.
Experts say bringing in capable partners will provide the skills and money needed without putting pressure on government funds.
Fixing the refineries locally will help Nigeria stop relying on imported fuel and help keep prices steady.

MAIN STORY

Energy experts are advising the Federal Government to partner with experienced investors to get Nigeria’s refineries back on their feet. Speaking in Lagos on Monday, the experts said that working with partners who have the right technical skills is the best way to grow local fuel production.

This comes after the Group CEO of NNPCL, Mr. Bayo Ojulari, mentioned that the company is in talks with Chinese firms to help fix and manage the refineries.

Dr. Ayodele Oni, an energy expert, said the plan is a good step. He explained that such a deal would bring in better ways of working without the government needing to spend a lot of money. Oni noted that in the past, huge sums were spent on repairs, but the results did not really improve how much fuel was produced. He believes that letting partners own a part of the business will bring in global best practices and help keep fuel prices stable over time.

Another expert, Dr. Joseph Nwakwue, added that finding the right partners with the money and technical know-how is very important for the country. He said it is in everyone’s interest for the state-owned refineries to work perfectly. Mr. Moses Igbrude of the Independent Shareholders Association also agreed, saying that these kinds of partnerships are common all over the world. However, he told the government to keep a close watch on the deals to make sure everything is clear and that Nigeria’s interests are protected.

WHAT’S BEING SAID

“It is worth exploring because the NNPCL… might not need to spend its own funds on the deal,” said Dr. Ayodele Oni.
“I hope the talks will bring in the right partners with the financial strength and technical skills to run the refineries well,” noted Dr. Joseph Nwakwue.
Mr. Moses Igbrude called it a “practical option” but warned that authorities must “keep a close eye on things.”

WHAT’S NEXT

NNPCL is expected to share more news on the talks with the Chinese firms very soon.
People are waiting to see which refinery—Port Harcourt, Warri, or Kaduna—will be the first to start this new partnership.
The government may also give more details on how private investors can safely join in managing these national assets.

BOTTOM LINE

The Bottom Line is that experts believe the government should not try to fix the refineries alone. By opening the door to the right international partners, Nigeria can finally turn its old oil plants into working machines that produce cheap fuel for everyone.

PETROAN warns petrol could hit ₦2,000 without urgent domestic refining

PETROAN warns petrol could hit ₦2,000 without urgent domestic refining

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March 10, 2026

KEY POINTS

PETROAN has issued a stark warning that petrol (PMS) prices could surge toward ₦2,000 per litre if domestic refineries remain inactive during the current global crisis.
The association urged NNPC Ltd. to facilitate the immediate commencement of production at the Port Harcourt (Area 5) and Warri refineries.
Geopolitical tensions involving the U.S., Iran, and Israel have already driven petrol prices up by 30%, currently selling above ₦1,000 per litre.
Diesel (AGO) is similarly projected to approach ₦3,000 per litre if international supply chain disruptions persist.

MAIN STORY

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has raised the alarm over a looming energy price peak, projecting that petrol could hit ₦2,000 per litre in the coming days. Dr. Billy Gillis-Harry, National President of PETROAN, made the call on Monday, urging the Group CEO of NNPC Ltd., Mr. Bayo Ojulari, to prioritize domestic refining as the only viable shield against a volatile global market.

According to PETROAN, the urgency stems from the escalating conflict involving Israel, the United States, and Iran, which has compromised critical oil routes. Gillis-Harry noted that before the current Middle East crisis, petrol sold at ₦774 per litre but has already crossed the ₦1,000 mark—a 30% increase. Diesel has seen an even more drastic 49% jump, rising from ₦950 to over ₦1,400 per litre. Without the immediate activation of the Port Harcourt Area Five Plant and the Warri Refinery, the association warns that these prices will continue to climb as international supply shrinks.

PETROAN argues that government-owned refineries are uniquely positioned to stabilize the economy because they are less vulnerable to the global supply disruptions that plague private refineries dependent on imported crude. By utilizing Nigeria’s own crude oil resources under the custody of NNPC Ltd., the country can decouple local pump prices from international shocks. Gillis-Harry emphasized that a ₦2,000 petrol price would deepen economic hardship and worsen inflation nationwide, calling on President Bola Tinubu to direct an immediate “rehabilitate and produce” mandate for all state-owned refineries.

WHAT’S BEING SAID

“With no clear end to the conflict, petroleum product prices… are expected to rise sharply. PMS could rise close to ₦2,000 per litre,” warned Dr. Billy Gillis-Harry, President of PETROAN.
He described the current 49% spike in diesel as a threat to manufacturing, stating that “diesel is vital for industrial operations.”
PETROAN commended the President’s reform policies but insisted that domestic production is the final step to “bring relief to citizens and stimulate economic growth.”

WHAT’S NEXT

Retailers are bracing for potential price adjustments at the pumps as international crude prices react to the latest drone and missile attacks in the Gulf.
Stakeholders are awaiting a technical update from NNPC Ltd. regarding the “profit index evaluation” that previously paused operations at the Warri and Port Harcourt plants.
There is growing pressure for the Federal Government to implement a “Domestic Crude for Domestic Needs” policy to ensure local refiners have priority access to Nigerian crude.

BOTTOM LINE

The Bottom Line is that PETROAN has set ₦2,000 as the psychological and economic “red line” for the Nigerian fuel market. By linking this projected hike directly to the inactivity of the Port Harcourt and Warri refineries, the association is making it clear that Nigeria’s energy security can no longer afford to wait on international markets to stabilize.

ECOWAS court of justice pledges stronger protection for women’s rights through Effective justice delivery

Customs Officers undergo sensitisation ahead of National Single Window launch

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March 10, 2026

KEY POINTS

Nigeria Customs officers are undergoing sensitisation ahead of the first phase launch of the National Single Window on March 27

The digital platform aims to streamline trade processes and enhance transparency among government agencies involved in imports and exports.

Officials say the initiative will improve Nigeria’s trade competitiveness and reduce bureaucratic bottlenecks.

MAIN STORY

Officers of the Nigeria Customs Service (NCS) have begun a sensitisation programme in Lagos ahead of the first phase launch of the National Single Window (NSW) scheduled for March 27.

Director of the National Single Window Project, Tola Fakolade, disclosed this during a sensitisation session for customs officers in Lagos.

Fakolade said the programme was designed to clarify misconceptions surrounding the initiative and prepare officers for the operational integration of the platform across relevant government agencies.

He explained that the National Single Window is a digital platform created to simplify and coordinate trade-related procedures by bringing multiple agencies involved in import and export processes onto a single interface.

According to him, the initiative will improve efficiency, enhance transparency and facilitate easier trade operations within Nigeria’s ports and border points.

THE ISSUES

Nigeria’s trade environment has long been characterised by complex regulatory procedures, multiple documentation requirements and delays caused by fragmented operations among government agencies.

Stakeholders believe that integrating trade processes through the National Single Window will reduce administrative bottlenecks, improve compliance and strengthen Nigeria’s competitiveness in global trade.

WHAT’S BEING SAID

Fakolade emphasised that the platform would not interfere with the statutory revenue responsibilities of any government agency.

“The National Single Window is not taking any revenue from agencies. What it will do is facilitate ease of trade by integrating processes and improving transparency across participating agencies,” he said.

He added that the initiative, which is backed by the Presidency, is aimed at modernising Nigeria’s trade infrastructure and enhancing collaboration among agencies.

Also speaking, Deputy Comptroller-General of the Nigeria Customs Service, Oluyomi Adebakin, described the platform as a critical step toward strengthening Nigeria’s global trade standing.

According to her, digitising and harmonising trade procedures would simplify regulatory processes, reduce delays and improve operational efficiency within the customs system.

WHAT’S NEXT

Further sensitisation and stakeholder engagement sessions are expected to continue across relevant government agencies ahead of the official rollout of the first phase of the platform on March 27.

When fully operational, the National Single Window will allow traders to submit documentation and complete regulatory requirements through a unified digital portal.

BOTTOM LINE

The National Single Window initiative is expected to modernise Nigeria’s trade ecosystem by integrating government agencies on a single digital platform, reducing bureaucracy and improving the efficiency of import and export processes.

Customs advocates impact-driven reform communication at WCO capacity building session

Civil Servants hail reintroduction of gratuity as “major relief” for retirees

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March 10, 2026

KEY POINTS

Federal civil servants have expressed delight over the reintroduction of gratuity, describing it as a return to the “good old days” of enhanced retirement benefits.
The Federal Executive Council (FEC) approved the new exit benefit scheme on March 5, 2026, for officers in treasury-funded MDAs.
Retiring officers with a minimum of 10 years of service will receive a lump-sum gratuity equivalent to 100% of their total annual emoluments.
The benefit complements the Contributory Pension Scheme (CPS), providing a much-needed financial buffer for post-service investments and family support.

MAIN STORY

Federal civil servants in Abuja have commended the Federal Government for the reintroduction of gratuity, characterizing the move as a significant intervention that will ease the financial burdens of life after service.

Following the Federal Executive Council’s (FEC) approval of a new exit benefit scheme on March 5, workers noted that the policy restores a critical component of social security that had been missing for many retirees since the inception of the Contributory Pension Scheme (CPS) 22 years ago.

Under the approved framework, retiring federal civil servants will receive a gratuity equivalent to one full year’s salary package (100% of total annual emoluments). For many, like Hajia Safia Umaru, this lump sum represents a “big relief” from the fear of post-retirement poverty. She noted that such funds allow retirees to plan for housing, business startups, and the continued education of children who are often still in school at the time of their parents’ retirement.

Wale Ogunnaike, a Deputy Director retiring in July, provided a practical breakdown of the scheme’s impact. He explained that under the current CPS Act, a retiree with N20 million in total savings might only access N5 million (25%) as a lump sum, with the balance paid in monthly installments over 10 years. With a gross monthly earning of N500,000, Ogunnaike anticipates an additional N6 million in gratuity. This combined N11 million (pension lump sum plus gratuity) enables “reasonable and wise investment decisions” befitting his status.

While celebrating the policy, workers like Mrs. Alice Ita and Mr. Obinna Ibe have called for the Contributory Pension Scheme Act to be reviewed to allow access to at least 50% of total savings. They also emphasized the need for automated and prompt implementation to ensure that bureaucratic bottlenecks do not delay payments. As the government moves to strengthen the welfare framework, the reintroduction of gratuity has rekindled hope among Nigeria’s workforce, providing a “Plan B” that stabilizes lives after decades of service.

WHAT’S BEING SAID

“This is a very big relief from financial constraints… I used to be afraid whenever I hear what retirees go through after leaving the service,” stated Hajia Safia Umaru, a federal civil servant.
“With N5 million pension lump sum and N6 million gratuity payments, I can make reasonable and wise investment decisions,” noted Wale Ogunnaike, Deputy Director.
“The system should be automated in such a way that the person receives the benefit immediately. There should not be bureaucratic bottlenecks,” urged Mr. Obinna Ibe.

BOTTOM LINE

The Bottom Line is that the reintroduction of gratuity has transformed the retirement outlook for federal workers from one of “constant worry” to one of “renewed confidence.” By providing a full year’s salary as a lump sum, the government is giving retirees the capital needed to survive Nigeria’s current economic climate—provided the implementation remains prompt and transparent.

Women power Africa’s $59bn creative economy, says Boston Consulting Group Report

Women power Africa’s $59bn creative economy, says Boston Consulting Group Report

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March 10, 2026

KEY POINTS

Africa’s creative economy is currently valued at about $59 billion, with women playing a central role in innovation and entrepreneurship.

Rapid digital connectivity and Africa’s youthful population are accelerating growth in sectors such as fashion, film, music, and digital content.

Expanding Africa’s share of the global creative economy could increase exports to $150–160 billion by 2030.

MAIN STORY

Women are emerging as key drivers of Africa’s fast-growing creative economy, which is currently valued at about $59 billion, according to a new report by Boston Consulting Group (BCG).

The report, titled “Africa’s Next Growth Frontier: Empowering Women in the Creative Industries,” highlights how the continent’s expanding youth population and growing digital connectivity are transforming the creative sector into a major economic growth engine.

The study notes that Africa’s creative industries—including fashion, design, music, film, and digital content—are increasingly shaping the continent’s economic narrative, shifting attention from reliance on extractive industries to innovation-driven growth.

With nearly 890 million people under the age of 25, Africa has the youngest population globally, creating both a vast consumer market and a deep pool of creative talent.

THE ISSUES

Despite its rapid expansion and growing global influence, Africa’s creative economy remains significantly underdeveloped relative to its potential.

Currently, the continent accounts for less than three per cent of the $2 trillion global creative economy, highlighting both the sector’s growth constraints and the opportunity for expansion.

Experts say unlocking the sector’s potential will require improved infrastructure, stronger intellectual property protection, better financing mechanisms, and expanded global market access.

WHAT’S BEING SAID

According to Lisa Ivers, Africa’s creative industries provide a unique pathway for inclusive and sustainable economic growth.

“Unlike extractive industries, Africa’s creative economy offers a model rooted in agency, innovation, and shared prosperity,” she said.

Ivers noted that women-led creative businesses are generating employment, strengthening local supply chains, and reinvesting in their communities, making them central to Africa’s transformation.

The report also identifies four major drivers shaping the sector’s growth: digital acceleration, cultural intellectual property, the African diaspora, and the continent’s youthful population.

With 300–400 million Africans actively engaged on social media, creators now have unprecedented opportunities to distribute content globally and build digital-first business models.

WHAT’S NEXT

BCG projects that if Africa doubles its share of the global creative economy to six per cent by 2030, the continent’s creative exports could reach $150–160 billion.

The report also highlights fashion and design as the sector’s largest segment, currently valued at $31 billion, with women accounting for over 60 per cent of the workforce.

In countries such as Kenya and Madagascar, women represent more than 80 per cent of the industry workforce, underscoring their dominant role in shaping Africa’s fashion economy.

BOTTOM LINE

With its youthful population, expanding digital reach, and rich cultural heritage, Africa’s creative industries are poised to become a major economic pillar—with women at the forefront of driving innovation, employment, and global cultural influence.

ECOWAS court of justice pledges stronger protection for women’s rights through Effective justice delivery

ECOWAS court of justice pledges stronger protection for women’s rights through Effective justice delivery

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