
Nigeria FX Utilisation Rises to $18.3bn in Q2
CBN data show official-market FX utilisation climbing to $18.3bn in Q2 from $16.2bn in Q1, with invisibles at $13.2bn dwarfing goods at $5.1bn.
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CBN data show official-market FX utilisation climbing to $18.3bn in Q2 from $16.2bn in Q1, with invisibles at $13.2bn dwarfing goods at $5.1bn.

Data-centre developer IREN surges 20% after results beat estimates and it discloses two new contracts signed since quarter-end, defying AI-spend slowdown fears.

Ghanaian agritech LbH raises DRK Foundation backing to expand farmer credit data infrastructure after facilitating $5.4m in loans to 13,000 farmers.

The AU digital agriculture strategy pivots toward interoperable data systems, reframing how the continent connects farmers to services.

Apple set an all-time high as investors bet slower hyperscaler data-centre spending will cut memory prices and repair device margins.

A Google-backed skilling initiative is training Nigerian youths on generative AI and digital skills offline and for free, removing data and power barriers.

Samsung and SK Hynix fell more than 4.5 percent before recovering as the Democratic US midterm sweep raised, then moderated, fears of binding AI and data-centre regulation.

Nigeria projects roughly 50 million dollars in savings from shifting government and regulated data hosting into domestic infrastructure.

MTN Ghana grew nine-month service revenue 33.5 percent to GHS23.2 billion with EBITDA up 40.6 percent and the margin reaching 61.5 percent as data and fintech drove growth.

Oracle filed to sell $10 billion of common stock and $10 billion of senior notes, completing the $20 billion funding plan for its AI data-center cycle through fiscal 2030.

MTN Nigeria grew nine-month profit after tax 55.3 percent to N1.17 trillion as data revenue surged 35.8 percent and cash tax payments jumped to N295.4 billion.

China's October manufacturing PMI fell to 49.3 from above 50 in September, with new orders at 49.4 and production at 49.8, NBS data shows.

Intel beat third-quarter estimates on record data-centre demand, then lost about 29% on Friday after issuing a weak PC outlook.

Opentrons announces a $40 million Series E to expand laboratory robots, software and data infrastructure for automated experimentation.

Intercontinental Exchange reports higher revenue and profit, highlighting demand for trading, risk management and financial data.

Airtel Africa reports stronger half-year revenue and profit, with data demand growing and currency movements boosting dollar sales.

The Central Bank of Nigeria and the National Information Technology Development Agency said their partnership on a national sovereign cloud initiative will support compliance with the January 2027 deadline for payment service providers to retain customer and transaction data in Nigeria, an executive dialogue in Lagos heard.

Data released on 29 October show physical energy exports declining in 2024–25 while the renewable share of domestic electricity increased.

Newly released first-quarter data show gross job creation weakening much more than job destruction increased.

Recurring connections supported operating growth, while a joint-venture fee and large capital budget qualify the headline earnings picture.

Food market surveillance for week 43 shows maize down 1.6%, cashew down 2.7% and palm oil up 2.8%, even as September food inflation cooled to 19.59% year on year, per Useagrios data and NBS.

Regulatory data show Nigeria distribution companies grew revenue collection about 666% over ten years while electricity supplied rose only 32%, a gap that frames the sector tariff and investment debate.

Domestic refining is reducing petrol imports even as demand rises, but data gaps and supply risks could still trigger shortages.
Lenders are using AI for credit, fraud and customer service, but weak data, bias and job displacement raise governance questions.