House of Representatives advances bill to modernize national statistical governance

House of Representatives advances bill to modernize national statistical governance

The House of Representatives has moved forward with a bill seeking to reform the national statistical system by repealing the Statistics Act of 2007 and replacing it with updated governance provisions. The proposed law will strengthen institutional coordination, enhance data standards and introduce a clearer mandate for the National Bureau of Statistics. Lawmakers emphasise that reliable data remains central to economic planning, investment forecasting, sectoral reforms and social policy design. The bill also seeks to…

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Digital Payments Surge and the Dawn of Africa’s Cashless Economy

Digital Payments Surge and the Dawn of Africa’s Cashless Economy

As Africa accelerates toward a cashless future, digital payments are no longer a fringe convenience — they are rapidly becoming the backbone of commerce, personal finance, and cross‑border trade across the continent. Recent data and industry trends reveal a profound transformation in how Africans transact, access financial services, and participate in the digital economy.   Mobile Money: Africa Leads Globally According to the 2025 “State of the Industry Report on Mobile Money” from GSMA, Africa…

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As Foreign Banks Depart, African Economies Face Urgent Call for Competitiveness Reform

As Foreign Banks Depart, African Economies Face Urgent Call for Competitiveness Reform

Nairobi, Kenya – African economies are entering what analysts describe as a critical juncture, as a wave of withdrawals by foreign banks prompts an urgent reassessment of competitiveness, regulation and financial sector strategy across the continent. Recent years have seen a growing exodus of major global banking institutions from Africa. European and UK-based banks that for decades operated in multiple African markets are now scaling down or completely exiting. According to latest reports, Africa’s overall…

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Detty December Emerges as Growth Engine for West African Leisure Economies

Detty December Emerges as Growth Engine for West African Leisure Economies

As the year draws to a close, cities across West Africa come alive — not just with festive spirit, but with significant economic energy. The seasonal phenomenon known as Detty December — a period of heightened celebrations, return‑home gatherings by diaspora communities, concerts, nightlife, and holiday tourism — continues to cement itself as a major driver of leisure‑economy growth in the region. In 2024 the economic impact was especially pronounced in Lagos, where official figures…

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