Business
Nigeria is gradually regaining macroeconomic stability – CPPE
Dr Yusuf listed food and alcoholic beverages, restaurants and accommodation services, as well as transport and high energy costs, as key drivers of inflation in the country.
Dr Muda Yusuf, the Chief Executive Officer (CEO) ,Centre for the Promotion of Private Enterprise (CPPE), declared that Nigeria is gradually regaining macroeconomic stability.
He referenced the downward trend of headline inflation rate for the fifth consecutive month, reaching 20.12 percent in August 2025 from July’s 21.88 percent.
Dr Yusuf made the above comments in response to the data from the National Bureau of Statistics (NBS) for the period under review .
Dr Yusuf listed food and alcoholic beverages, restaurants and accommodation services, as well as transport and high energy costs, as key drivers of inflation in the country.
According to Yusuf the 20.12 percent recorded in August represents a notable 1.76 percentage point decline from July’s 21.88 per cent.
Month-on-month inflation also slowed sharply, with prices rising by just 0.74 percent in August compared to 1.99 per cent in July.
“However, consumer confidence remains fragile due to persistently high food prices and weak purchasing power. Despite this, consumer pessimism is gradually easing, suggesting that households are beginning to adjust their expectations as inflation slows.
“Several factors have contributed to the continued deceleration in inflation, including base effects from the unusually high inflation rates recorded in 2024, FX stabilisation and improved agricultural production from sub-national government interventions, which have helped boost food supply and contain price spikes,” he said.
Business
TIME Names Moniepoint CTO Felix Ike Among 50 Global Executives of the Year
In its citation, TIME said Ike “has helped to establish the business as one of Africa’s leading financial platforms.
TIME magazine has named Felix Ike, co-founder and Chief Technology Officer of Nigerian fintech Moniepoint, to its inaugural Executives of the Year: Tech and Data list.
Ike is the only executive representing an African company among the 50 leaders selected for the 2026 list.
The list, unveiled on Tuesday, September 22, recognises chief information officers, chief technology officers, chief data officers and chief product officers whose decisions are shaping how major organisations deploy technology and use data.
Moniepoint is also the only African company represented on the inaugural list.
Ike was named alongside executives from Netflix, CrowdStrike, Dell, Duolingo, AT&T, OpenAI, Anthropic, Shopify and Reddit, among others.
In its citation, TIME said Ike “has helped to establish the business as one of Africa’s leading financial platforms.
“The recognition follows Moniepoint’s inclusion in TIME’s 2025 list of the 100 Most Influential Companies, giving the Lagos-founded fintech another global distinction.
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Business
Djibouti, Ethiopia and Dangote to build $660 million petroleum pipeline
In Kenya, Dangote and the government are due to break ground on a new 700,000-barrel-per-day crude oil refinery in Lamu next week.
Ethiopia, Djibouti and Nigerian billionaire Aliko Dangote plan to build a $660 million refined petroleum pipeline that will connect Ethiopia and Djibouti, a spokesperson in Ethiopian Prime Minister Abiy Ahmed’s office said on Thursday.
The project will include a 120-km (75-mile) pipeline, as well as approximately 375,000 cubic metres of storage capacity at Damerjog in Djibouti and 800,000 cubic metres at Dewele in Ethiopia, the spokesperson told Reuters, adding it should become operational within 18 months.
Abiy said on his X account the project will be developed through a partnership between Ethiopian Investment Holdings and the Dangote Group, which separately is already building a $4 billion fertiliser pipeline and power plant, and a polypropylene packaging facility, in Ethiopia.
The project aims to reduce logistics costs and delays along the Ethiopia-Djibouti transport corridor, Abiy said.
Developers say the infrastructure will strengthen energy security and improve supply chain resilience for the two countries, he said.
Abiy is on a visit to Djibouti and made the announcement alongside its president, Ismail Omar Guelleh, and Dangote.
In Kenya, Dangote and the government are due to break ground on a new 700,000-barrel-per-day crude oil refinery in Lamu next week.
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