How ready are Nigerians for the petrol subsidy realities?

Following the approval of the hike in electricity tariff by the Nigerian Electricity Regulatory Commission, customers in the band, a category who receive 20 hours and above supply of electricity, will now have to pay 225 Naira per kilowatt hour against the 66 Naira payable before the hike. This directive, which came in the middle of fuel subsidy removal, foreign exchange crisis, and high inflation rates, has been heavily criticized by the citizens.

Here's what's been making the business headlines in sub-Saharan Africa this week.

Nigeria’s Minister of Finance, Wale Edun says 4.83 trillion naira from T-Bills and Bonds issued in the first quarter of this year was used to pay part of the Ways and Means advances from the Central Bank of Nigeria. Sam Chidoka, CEO of Kairos Capital joins CNBC Africa for more on this discussion and Nigeria's debt management strategy.

A year after Lula came to power, his gamble has paid off: deforestation has been halved in the Amazon. But this success comes at the cost of sacrificing another ecosystem that's just as vital to Brazil: the Cerrado.

Some top Nigerian banks are eyeing the international and local capital markets to raise fresh capital in a bid to meet the recapitalisation exercise by the Central Bank of Nigeria. Egie Akpata, Chairman of Skymark Partners joins CNBC Africa to examine options available to banks.

According to the International Monetary Fund (IMF), a 10% rise in the dollar on the currency market would push down real gross domestic product (GDP) in emerging economies by 1.9% after one year, with adverse economic effects lasting more than two years