Welcome to the Economy hub of Cycad Africa Daily News. Here you’ll find the most relevant updates that affect your wallet, your business, and the continent’s growth. We cut the fluff and give you the facts you need to understand what’s happening right now.
On March 26, 2025 the unofficial dollar‑to‑naira rate spiked to N1,570 for buyers, far above the official rate. Cash demand is high, official channels are tight, and traders are moving fast. The surge didn’t stop at the dollar – the pound, euro and yuan also rose against the naira. If you’re watching the market, this tells you that confidence in the formal system is low and that people are turning to street deals for speed.
Fuel prices are set to rise again, even though many expected a drop. From December 3, 2024, both petrol and diesel will cost more, driven by global oil volatility, the US election fallout and OPEC+ decisions. The South African rand’s fluctuations add to the pressure. For commuters, this means higher daily travel costs and for businesses, tighter margins.
Both stories illustrate a common thread: external shocks are pushing African economies into tighter spots. When global oil prices wobble or foreign exchange markets shift, the impact lands on everyday prices – from the cost of a cup of coffee to the price of imported goods.
What can you do? Keep an eye on official exchange rates but also track black‑market trends if you deal with imports or travel. For fuel, consider budgeting a bit more for transport or look for car‑pool options to soften the hit. Small adjustments now can protect your finances when the next jump arrives.
Our Economy section updates you fast, so you never miss a beat. We pull data from reliable sources, break it down into plain language, and point out the practical steps you can take. No jargon, just what matters to you.
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Stay informed, stay ahead – the African economy moves fast, and we’re here to help you keep up.
Aug
On March 26, 2025, Nigeria's black market dollar to naira rate shot upwards, hitting N1,570 for buyers as the official rate remained much lower. With cash in high demand and official channels tight, these unofficial trades saw strong activity. Rates for pounds, euros, and yuan also followed this trend.
Dec
Fuel prices are set for an unexpected increase despite earlier predictions of a decrease, reflecting the volatile global oil market and fluctuating South African rand. Adjustments effective from December 3, 2024, reveal a rise in petrol and diesel prices, with global economic factors, including the US election and OPEC+ meetings, contributing to the changes. Consumers brace for financial impact amidst unstable international markets.
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