Nigeria has secured a $652 million loan from China's Exim Bank to fund the construction of a major road linking key economic hubs in Lagos to several southern states.

Public Works Minister David Umahi says the road will serve as a critical evacuation corridor for goods from the Lekki Deep Sea Port, the Dangote Petroleum Refinery, Africa's largest and its adjoining fertiliser plant.

The Federal Executive Council approved the funding, chaired by President Bola Tinubu.

Thami Ngubeni spoke to The Economist and the managing director time Timeline Consulting Limited, Nigeria, Idris Shuaibu...

Nigeria has secured a $652 million loan from China's Exim Bank to fund the construction of a major road linking key economic hubs in Lagos to several southern states.
Public Works Minister David Umahi says the road will serve as a critical evacuation corridor for goods from the Lekki Deep Sea Port, the Dangote Petroleum Refinery, Africa's largest and its adjoining fertiliser plant.
The Federal Executive Council approved the funding, chaired by President Bola Tinubu.
Thami Ngubeni spoke to The Economist and the managing director time Timeline Consulting Limited, Nigeria, Idris Shuaibu...

In-depth financial issues, profiling of African businesses doing well internationally, stocks & market updates.

In-depth financial issues, profiling of African businesses doing well internationally, stocks &amp; market updates.

Business Africa

Africa in Business

Nigeria secures $652 million loan from China's Exim Bank

As anti-illegal migrant marches continue to spark debate across South Africa, attention is turning to their broader impact beyond politics and public safety. While supporters argue that the demonstrations are aimed at addressing crime and undocumented migration, critics warn they could harm South Africa’s international reputation, weaken investor confidence, discourage tourism, and fuel perceptions of xenophobia.

To unpack the potential economic and branding implications, the programme is joined by economic brand specialist and Managing Director of Reputation 1st, Tshepo Matseba.

As anti-illegal migrant marches continue to spark debate across South Africa, attention is turning to their broader impact beyond politics and public safety. While supporters argue that the demonstrations are aimed at addressing crime and undocumented migration, critics warn they could harm South Africa&rsquo;s international reputation, weaken investor confidence, discourage tourism, and fuel perceptions of xenophobia.
To unpack the potential economic and branding implications, the programme is joined by economic brand specialist and Managing Director of Reputation 1st, Tshepo Matseba.

Debate grows over economic impact of anti-illegal migrant protests

In today’s market segment, the focus is on the economic week that was, including oil prices, which have fallen to pre-war levels. Attention also turns to South Africa’s consumer confidence, which declined in the second quarter of this year.

To unpack these developments and what they could mean for the economy, FNB senior economist Koketso Mano joins the discussion.

In today&rsquo;s market segment, the focus is on the economic week that was, including oil prices, which have fallen to pre-war levels. Attention also turns to South Africa&rsquo;s consumer confidence, which declined in the second quarter of this year.
To unpack these developments and what they could mean for the economy, FNB senior economist Koketso Mano joins the discussion.

Africa market update with FNB senior economist Koketso Mano

Africa’s agri-food sector is in focus as Nairobi hosts the FINAS 2026 Summit from June 30 to July 2, bringing together over 1000 stakeholders from government, finance and business. The summit aims to close a financing gap of more than $100 billion and boost investment into Africa’s food systems, which employ over 60% of the workforce.

Discussions will focus on climate-smart agriculture, blended finance and new investment models to support farmers and agribusinesses across the continent.

Joining the discussion to share more on the summit is Professor Hamadi Boga, Chair of FINAS and Vice President in charge of programme delivery at AGRA.

Africa&rsquo;s agri-food sector is in focus as Nairobi hosts the FINAS 2026 Summit from June 30 to July 2, bringing together over 1000 stakeholders from government, finance and business. The summit aims to close a financing gap of more than $100 billion and boost investment into Africa&rsquo;s food systems, which employ over 60% of the workforce.
Discussions will focus on climate-smart agriculture, blended finance and new investment models to support farmers and agribusinesses across the continent.
Joining the discussion to share more on the summit is Professor Hamadi Boga, Chair of FINAS and Vice President in charge of programme delivery at AGRA.

Nigeria secures $652 million loan from China's Exim Bank

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