By Adedapo Adesanya

Nigeria’s crude oil production slipped slightly to 1.422 million barrels per day in December 2025 from 1.436 million barrels per day in November, according to data from the Organisation of Petroleum Exporting Countries (OPEC).

OPEC in its Monthly Oil Market Report (MOMR), quoting primary sources, noted that the oil output was below the 1.5 million barrels per day quota for the nation.

The OPEC data indicate that Nigeria last met its production quota in July 2025, with output remaining below target from August through December.

Quarterly figures reveal a consistent decline across 2025; Q1: 1.468 million barrels per day, Q2: 1.481 million barrels per day, Q3: 1.444 million barrels per day, and 1.42 million barrels per day in Q4.

However, the cartel acknowledged that despite the gradual decrease in oil production, Nigeria’s non-oil sector grew in the second half of last year.

The organisation noted that “Nigeria’s economy showed resilience in 2H25, posting sound growth despite global challenges, as strength in the non-oil economy partly offset slower growth in the oil sector.”

According to the report, cooling inflation, a stronger Naira, lower refined fuel imports, and stronger remittance inflows are improving domestic and external conditions.

“A stronger naira, easing food prices due to the harvest, and a cooling in core inflation also point to gradually fading underlying pressures”, the report noted.

It forecast inflation to decelerate further on the back of past monetary tightening, currency strength, and seasonal harvest effects, though it noted that monetary policy remains restrictive.

“Seasonally adjusted real GDP growth at market prices moderated to stand at 3.9%, y-o-y, in 3Q25, down from 4.2% in 2Q25. Nonetheless, this is still a healthy and robust growth level, supported by strengthening non-oil activity, with growth in that segment rising by 0.3 percentage points to 3.9%, y-o-y. Inflation continued to decelerate in November, with headline CPI falling for an eighth straight month to 14.5%, y-o-y, following 16.1%, y-o-y, in October”.

OPEC, however, stated that while preserving recent disinflation gains is important, the persistently high policy rate – implying real interest rates of around 12% – risks weighing on aggregate demand in the near term.

By Aduragbemi Omiyale

The National Bureau of Statistics (NBS) on Thursday revealed that inflation rate for December 2025 stood at 15.15 per cent compared with the 14.45 per cent it put the previous month.

However, it recalculated the November 2025 inflation rate at 17.33 per cent after using a 12-month index reference period where the average consumer price index (CPI) for the 12 months of 2024 is equated to 100. This is a departure from the single-month index reference period, in which December 2024 was set to 100, which would have produced an artificial spike in the December 2025 year-on-year inflation rate.

The NBS had earlier informed stakeholders a few days ago that it was changing its methodology for inflation to reflect the economic reality. This is coming after the organisation changed the base year from 2009 to 2024 earlier in 2025.

In its report released today, the stats agency explained that this process was in line with international best practice as contained in the Consumer Price Index Inter-national Monetary Fund (IMF) Manual, specifically in Section 9.125 and the ECOWAS Harmonised CPI Manual, which address index reference period maximisation, following a rebasing exercise.

On a month-on-month basis, the headline inflation rate in December 2025 was 0.54 per cent, lower than the 1.22 per cent recorded in November 2025.

The NBS also revealed that on a year-on-year basis, the urban inflation rate for last month stood at 14.85 per cent versus 37.29 per cent in December 2024, while on a month-on-month basis, it jumped to 0.99 per cent from 0.95 per cent in the preceding month.

As for the rural inflation rate in December 2025, it stood at 14.56 per cent on a year-on-year basis from 32.47 per cent in December 2024, and on a month-on-month basis, it declined to -0.55 per cent from 1.88 per cent in November 2025.

It was also disclosed that food inflation rate in December 2025 was 10.84 per cent on a year-on-year basis from 39.84 per cent in December 2024, while on a month-on-month basis, it declined to -0.36 per cent from 1.13 per cent in November 2025 (1.13%).

This was attributed to the rate of decrease in the average prices of tomatoes, garri, eggs, potatoes, carrots, millet, vegetables, plantain, beans, wheat grain, grounded pepper, fresh onions and others.

Africa’s business environment is undergoing a quiet but significant transformation. Over the past few years, investor confidence in African-focused digital companies has grown steadily, driven by stronger business fundamentals, improved technology infrastructure, and a deeper understanding of local markets. What was once viewed as a high-risk frontier is increasingly seen as a long-term growth opportunity with scalable returns.

This shift is evident in the types of startups attracting capital today. Investors are backing platforms that combine technology, recurring revenue models, and cross-border appeal—signaling a new phase in how digital businesses are built and funded across the continent.

The Evolution of Venture Capital in Africa

Early venture capital activity in Africa was largely experimental. Funding rounds were modest, timelines were short, and expectations focused on proof of concept rather than long-term scale. Today, the narrative has changed. Investors are deploying larger checks and looking beyond survival metrics toward sustainable growth, operational efficiency, and regional expansion.

Digital-first companies are particularly attractive because they can scale without heavy physical infrastructure. With mobile penetration rising and digital payments becoming more common, African startups now have access to broader audiences than ever before. This scalability has become a key selling point for investors seeking exposure to emerging markets without excessive operational complexity.

Why Digital Platforms Are Drawing Increased Attention

One notable trend is growing investment interest in digital entertainment and online platforms. These businesses benefit from high engagement, repeat usage, and diverse monetization opportunities. Unlike traditional industries, digital platforms can adapt quickly to consumer behavior and expand into new markets with relatively low marginal cost.

Recent investment activity reflects this shift. A clear example is the funding momentum around winna casino, which highlights how investors are backing tech-enabled platforms positioned for global reach rather than local limitation.

The significance of such deals goes beyond the individual company. They point to a broader willingness by investors to support African-linked digital businesses operating at the intersection of technology, finance, and entertainment.

Technology as a Driver of Business Scalability

Technology is no longer just an enabler—it is the core value proposition. Businesses that leverage automation, cloud infrastructure, and data-driven decision-making are better positioned to scale efficiently. This is particularly relevant in Africa, where legacy systems can slow down traditional business models.

Digital platforms reduce friction by offering faster transactions, better user experiences, and real-time insights. From an investor’s perspective, these efficiencies translate into lower operating risk and higher growth potential. Companies that build with scalability in mind from day one are more likely to secure follow-on funding and strategic partnerships.

Africa’s Changing Perception Among Global Investors

Global investors are increasingly reassessing Africa’s role in their portfolios. Rather than viewing the continent solely through the lens of risk, many now see demographic advantage, underpenetrated markets, and long-term consumer growth.

A growing body of international business analysis supports this outlook. Forbes, for instance, has highlighted why global investors are paying closer attention to African tech and digital businesses as part of broader emerging market strategies:

This change in perception is critical. It influences not only the volume of capital flowing into Africa but also the quality—bringing in investors with longer horizons, stronger networks, and deeper operational expertise.

The Importance of Governance and Trust

Despite the optimism, capital is not deployed blindly. Investors remain highly selective, particularly when it comes to governance, compliance, and transparency. Digital businesses operating in regulated or semi-regulated spaces are expected to demonstrate strong internal controls and responsible growth strategies.

For African startups, this means that trust has become a competitive advantage. Companies that invest early in governance structures, risk management, and user protection are better positioned to attract serious institutional capital. In the long term, this focus strengthens the overall business ecosystem.

What This Means for African Entrepreneurs

For founders, the evolving investment climate presents both opportunity and responsibility. Access to capital can accelerate growth, but it also raises expectations around execution, reporting, and accountability. Investors now expect African startups to operate at global standards while maintaining local relevance.

This environment rewards entrepreneurs who think beyond short-term gains and focus on building resilient, scalable businesses. Those who can balance innovation with discipline are more likely to thrive in an increasingly competitive funding landscape.

Looking Ahead

Africa’s digital economy is entering a more mature phase. Venture capital is no longer just fueling ideas—it is shaping business models, governance practices, and long-term strategies. As investor confidence continues to grow, digital platforms that demonstrate scalability, trust, and clear value propositions will define the next chapter of Africa’s business story.

For business leaders, policymakers, and investors alike, one thing is clear: Africa’s digital transformation is not a future promise—it is already underway, and capital is following conviction.