Nigeria Misses Out On $1.3 Billion

Dear Readers,

What does momentum look like in Africa right now? It looks like falling unemployment in South Africa, tough regulatory scrutiny in Nigeria’s digital market, billionaires pushing for infrastructure reform, and new global powers quietly expanding their footprint across the continent.

South Africa’s unemployment rate has dipped to 31.4%, its lowest level since 2020, offering cautious optimism in a $410 billion economy still battling deep structural inequality.

At the same time, Nigeria is juggling high-stakes pressures: missed oil production targets under the Organization of the Petroleum Exporting Countries, a high-profile power sector warning from Aliko Dangote, and a formal data probe into fast-growing e-commerce giant Temu.

Beyond national borders, the chessboard is shifting. Turkey is deepening its commercial diplomacy across Africa, while in the U.S., Larry Ellison and David Ellison are attempting to reopen an $83 billion deal with Warner Bros.

South Africa’s unemployment rate fell to 31.4% in the final quarter of 2025, its lowest level in more than five years, supported by job gains in community and social services as well as construction.

The figure came in slightly better than projections and offers cautious optimism for an economy that has struggled with weak growth since the pandemic. However, unemployment remains structurally high, with about 8.4 million people still seeking work.

As Africa’s largest economy, with an estimated $410 billion, the pressure to create jobs remains intense. The government has rolled out a 2.5 billion rand Youth Fund to support small businesses and stepped up deportations of undocumented migrants

🇳🇬 Africa's largest oil producer misses OPEC targets, forfeits $1.31 billion in revenue as production woes deepen

Nigeria forfeited an estimated $1.31 billion in potential crude oil revenue between January 2025 and January 2026 after missing its 1.5 million barrels-per-day production quota set by the Organization of the Petroleum Exporting Countries.

Data shows cumulative shortfalls of 18.12 million barrels over the 13 months, based on an average Bonny Light price of $72.08 per barrel. Output exceeded quota only three times in 2025, with the sharpest deficit recorded in September, when production fell to 1.39 million barrels per day.

Overall, Nigeria produced about 530.41 million barrels in 2025, generating an estimated N55.5 trillion in gross revenue, though this fell short of government projections.

🇳🇬 Africa’s richest man calls for an emergency power summit as blackouts threaten Nigeria’s $500bn economy

Africa’s richest man, Aliko Dangote, has a clear message for Nigerian authorities: fix the power sector or forget industrial takeoff. Speaking at the launch of Nigeria’s National Industrial Policy 2025, Dangote called for an urgent national retreat focused solely on solving the country’s chronic electricity crisis.

In his words, “No power, no growth.” His warning comes after fresh nationwide outages triggered by gas supply disruptions.

Dangote, whose businesses span cement, fertiliser, and refining, argued that stable electricity is the foundation for unlocking Nigeria’s roughly $500 billion economy.

🇳🇬 Nigeria is taking on Temu, and the fast-fashion app says it will cooperate

Nigeria has launched a formal investigation into Temu over suspected violations of the country’s data-protection laws. The probe, led by the Nigeria Data Protection Commission, is examining concerns around opaque data handling, potential online surveillance, data-minimisation breaches, and cross-border transfers of Nigerian users’ information.

Regulators say preliminary findings indicate that the platform processes data belonging to about 12.7 million Nigerians, highlighting its rapid growth in one of Africa’s most active digital markets.

Temu, owned by PDD Holdings, says it will cooperate with authorities in Nigeria, which now joins a list of countries such as the United States and South Korea, scrutinising the company’s global expansion.

Here’s a little trip down memory lane with Africa’s top achievers in the continental football arena! From powerhouse performances to unforgettable championship moments, this list highlights the African countries that have taken home the prestigious Africa Cup of Nations (AFCON).

🇳🇬 From hosting Nigeria’s leader to visiting Ethiopia’s PM, Turkey is expanding its African reach

Recep Tayyip Erdogan is intensifying Turkey’s diplomatic and economic push into Africa, moving swiftly from hosting Bola Ahmed Tinubu in Ankara to visiting Abiy Ahmed in Addis Ababa.

Erdogan’s trip to Ethiopia signalled Ankara’s intention to deepen strategic cooperation with another key African economy.

Turkey’s outreach extends beyond the West and East Africa. In North Africa, Ankara recently signed a $350 million defence agreement with Egypt during talks with President Abdel Fattah el-Sisi, covering ammunition exports and plans for local production.

Larry and David Ellison are getting a chance to break up the Netflix/WBD deal

Larry Ellison and his son David Ellison are getting one final opportunity to bid for Warner Bros. Discovery, reopening a takeover battle that appeared settled when Netflix agreed to acquire most of WBD in an $83 billion deal last December. 

The Ellisons, who previously offered $30 per share for the entire company, have long argued their bid was superior and are now required to submit an offer exceeding $31 per share. WBD’s stock currently trades around $28 after a sharp rise over the past year.

The renewed bid could potentially disrupt Netflix’s agreement, though WBD continues to formally back the Netflix deal. If the Ellisons raise their offer, Netflix retains the right to counter.

The F Tower, located in the Plateau district of Abidjan, Ivory Coast, is projected to become the tallest building in Africa. The office building is anticipated to reach a height of 421 meters and comprise approximately 75 stories.