The renewable energy sector is experiencing significant growth, driven by policy tailwinds, technological innovation, and a global push for decarbonization. Here are some key trends and developments: Renewable Energy Growth Forecasts Global renewable power capacity is projected to increase by 4,600 GW between 2025 and 2030, doubling the deployment of the previous five years.Solar PV…
Nigeria is making remarkable progress in renewable energy, with several groundbreaking projects and initiatives currently underway. Here are some notable examples:
Global rating agency, Fitch Ratings has warned that Nigeria’s fiscal deficit could widen in 2025–2026 as election-related spending pressures mount.In its latest review, Fitch reaffirmed Nigeria’s “B” Stable rating but projected the deficit to rise to around 3.1% of GDP, driven by wage increases, campaign projects, and social programmes ahead of the election cycle. The…
Nigerian banks are holding record levels of cash yet profits are tightening. The latest report from the Central Bank of Nigeria (CBN) shows that the country’s financial institutions are sitting on more than ₦58 trillion in deposits with the apex bank, even as lending to the real economy weakens.The CBN’s Monetary Policy Committee (MPC) cut…
By UYE VINCENT The Central Bank of Nigeria (CBN) has reduced its benchmark interest rate also known as the Monetary Policy Rate (MPR) — from 27.5 percent to 27 percent, marking the first rate cut in five years. The decision, announced at the 302nd Monetary Policy Committee (MPC) meeting, reflects cautious optimism about easing inflation…
POLICY WATCH 360 — By Uye Vincent At its 302nd Monetary Policy Committee meeting in Sept, 22-23, 2025 the Central Bank of Nigeria (CBN) announced a 50 basis point cut to the Monetary Policy Rate (MPR), bringing it down from 27.50 percent to 27.00 percent. Alongside the rate cut, the MPC narrowed the interest rate…
Today, 7 October 2025, a flight scheduled to operate to Asaba was diverted to Lagos due to heavy rainfall and adverse weather conditions affecting the city. The unexpected weather disruption impacted flight operations, prompting the airline to prioritize safety above all else. All affected travelers have been duly notified, and Air Peace teams are working…