Wasiu Alli

Lagos

Correspondent, Special Projects and Reports at BusinessDay Nigeria

Journalist||Ex-Student Leader|| Family lover|| Researcher || Communication||Writer||Educator|| Politics enthusiast|Serial Volunteer|| SDGs|| Views, mine.

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Articles

Naira's positive outlook raises investors’ interest in Nigeria’s economy

1 week ago | businessday.ng | Wasiu Alli

The naira has continued to maintain a positive outlook and stability despite being tested by global and domestic headwinds, a situation that’s raising investors’ interest in the economy. The stability and reduced volatility of the local currency follows Central Bank of Nigeria (CBN) reforms that brought efficiency in the management and operations of the FX market.
Woodhall Capital leads push to close Africa’s $81bn trade finance gap

1 week ago | businessday.ng | Wasiu Alli

Africa’s small businesses are being choked by a trade finance gap so large it threatens to stall the continent’s economic growth. With payment delays, weak legal frameworks, and limited access to credit holding back millions of SMEs, Woodhall Capital has stepped in to drive a coordinated response.
Nigeria, S’Africa among biggest losers as Africa forgoes $125bn in tax revenue

1 week ago | businessday.ng | Wasiu Alli

Nigeria and South Africa are among countries losing big on forgone tax revenues that could be used to finance developmental projects and boost growth as the nations’ informal economy are largely non-formalised. More than one in five working-age Africans are engaged in starting a new business, with more than 75 percent of youth planning to launch their own ventures within the next five years, according to the African Development Bank (AfDB).
Expert explores how finance professionals can scale up amid uncertainty

1 week ago | businessday.ng | Wasiu Alli

Finance professionals must have a mindset shift from mere number-crunching to acting as strategic advisors, providing firms with insights that create long-term value, according to Ayobami Ishola, an author and finance expert.
Naira, cedi among currencies to slip in 2025, says AfDB

1 week ago | businessday.ng | Wasiu Alli

Nigeria’s naira and the Ghanaian cedi are among the African currencies that are expected to witness a decline this year driven by a potential fall in export earnings, African Development Bank (AfDB) said in its 2025 economic outlook. The Abidjan-based lender revealed that 21 of the 54 African nations are likely to see their currencies fall in 2025 while 25 could see some gains as the global uncertainty leaves the financial markets volatile.
Tinubu’s fresh $21.5bn loans: Five key projects FG seeks to spend on

1 week ago | businessday.ng | Wasiu Alli

The $21.5 billion fresh borrowing proposed by the federal government has generated heated debate on social media as netizens continue to question what the authorities intend to use the funds for. Though the ministry of finance has clarified that the loans will not add to the country’s debt burden as it plans to tap its development partners, many Nigerians are yet to be convinced.
Developer pushes for ‘strategic planning’ as Ibeju-Lekki booms

1 week ago | businessday.ng | Wasiu Alli

As Ibeju-Lekki undergoes one of Nigeria’s most ambitious infrastructure transformations, real estate developer Oluremi Oshikanlu is calling for urgent and strategic planning to guide its explosive growth and secure its future as a sustainable urban hub. Spurred by multi-billion dollar projects such as the Lekki Free Zone, Dangote Refinery, Lekki Deep Sea Port, and the proposed international airport, Ibeju-Lekki has become a magnet for investors, residents, and businesses.
Tinubu’s fresh $21.5bn loans may not increase Nigeria’s debt profile, FG clarifies

1 week ago | businessday.ng | Wasiu Alli

The federal government of Nigeria has clarified that the fresh $21.5 billion loans proposed by the government won’t stoke the country’s debt burden as it plans to source them from its development partners. The ministry of finance through a statement issued on Tuesday by Mohammed Manga, the director, Information and Public Relations, emphasised that the borrowing plan does not equate to actual borrowing for the period.
Running on empty: Power cuts dim Nigeria's biggest asset

1 week ago | businessday.ng | Wasiu Alli |Charles Ogwo

Martins Ifijeh was just 10 when his mother, Nneoma, bled to death in their rural home in Aninri, Enugu State, while trying to give birth. With no nearby hospital equipped to save her life, the agony of watching his mother die with a child made Martins—now in senior secondary school—vow to become a doctor. But that ambition may be short-circuited. At Community Secondary School in Ndeaboh, Martins spends his days in classrooms without electricity.
FX reforms drive $500m daily turnover

1 week ago | businessday.ng | Wasiu Alli

Nigeria’s foreign exchange (FX) market is witnessing a historic turnaround as average daily turnover approaches $500 million, a sign that the authorities’ sweeping reforms are boosting investor confidence. The nearly five-fold surge in liquidity follows a wave of market-driven reforms by the Central Bank of Nigeria (CBN), including the liberalisation of the exchange rate and the rollout of the Electronic Foreign Exchange Market System (EFEMS) last December.