02.08.2026

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Africa

FG to Share Electricity Subsidy Burden With States From 2026

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The Federal Government has announced plans to share electricity subsidy costs with state and local governments from 2026, ending the long-standing practice of carrying the burden alone. Officials say the move is aimed at transparency and fiscal discipline, as Nigeria grapples with mounting power-sector debt and seeks to stabilise an electricity market strained by unpaid subsidies....

Court Remands Nine Terror Suspects Over Yelwata Massacre

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A Nigerian court has ordered the remand of nine terror suspects linked to the Yelwata massacre, placing the case firmly within the judicial process after weeks of public outrage. The development shifts attention from the violence itself to accountability, evidence, and whether prosecutions can deliver justice in cases that have scarred communities and tested confidence in security responses....

JP Morgan Backs Afreximbank Bonds After Fitch Downgrade

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Investor confidence around Afreximbank bonds came into focus after JP Morgan publicly backed the lender’s debt despite a recent downgrade by Fitch Ratings. The move highlights diverging views within global markets on African development finance risks, even as rating agencies reassess exposure amid tightening global financial conditions....

IMF Global Growth Outlook 2026 Nigeria Ranks Among Top Contributors

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Nigeria has been listed among the world’s top contributors to global economic growth in 2026, according to the International Monetary Fund. The IMF global growth outlook 2026 Nigeria projection places the country ahead of several advanced economies in the Fund’s latest ranking and underscores a wider shift toward emerging markets as the main engines of world expansion....

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