African Business News

Stay updated with the latest African business news, including market trends, economic updates, and insights into industries across the continent.

Richest Russians add $24 billion to wealth – Bloomberg — RT Business News

Russia’s Richest Businessmen See Net Worth Soar by $24.5 Billion in First Half of 2025

By Ifunanya / July 2, 2025

The fortunes of Russia’s wealthiest businessmen have experienced a significant boost, with their combined net worth rising by over $24.5 […]

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Nigeria’s economy grows by 3.7% in H1 2025 – Report

By Ifunanya / July 2, 2025

The Nigerian economy is projected to have grown by around 3.7 percent in the first half of 2025. The growth […]

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Investors record N240bn gain as NGX continues bullish trend

Two Nigerian blue-chip companies exit NGX30 after H1 Index review

By Ifunanya / July 2, 2025

Two Nigerian blue-chip, or top-listed, companies took the exit door at the Nigerian Exchange Limited 30 Index after a review […]

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Nigerian petrol marketers give update on fuel price reduction 

Fuel price reduction: ‘Joy’s coming’ – Manufacturers

By Ifunanya / July 2, 2025

Director General, Manufacturers Association of Nigeria, Segun Ajayi-Kadiri, sees the price of fuel coming down to N800. Media Talk Africa […]

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China boosting purchases of Russian metals – Bloomberg — RT Business News

China Increases Purchases of Russian Metals Amid Western Sanctions

By Ifunanya / July 2, 2025

A significant shift in global trade patterns has emerged as China increases its purchases of Russian metals, including aluminum, copper, […]

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Nigerian petrol marketers give update on fuel price reduction 

Nigerian petrol marketers give update on fuel price reduction 

By Ifunanya / July 2, 2025

Nigerian petroleum marketers have said they are on the verge of announcing a fresh price template from Wednesday after Dangote […]

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Naira strengthens against dollar, begins July on positive note

Naira strengthens against dollar, begins July on positive note

By Ifunanya / July 1, 2025

The naira continued its appreciation against the dollar at the official foreign exchange market on Tuesday. According to data from […]

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NNPCL names new senior management team

NNPCL announces N6.008tn revenue, 1.63 mbpd crude production in May

By Ifunanya / July 1, 2025

The Nigerian National Petroleum Company Limited (NNPCL) has announced N6.008 trillion revenue for the month of May 2025. May’s revenue […]

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Canada scraps tax on tech giants in bid to revive US trade talks — RT Business News

Canada shelves digital tax on US tech giants to revive trade talks with America

By Ifunanya / July 1, 2025

In a significant move to salvage trade negotiations with the US, Canada has decided to shelve its plans to impose […]

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NCAA grounds Rano Air aircraft after mid-flight engine failure

NCAA grounds Rano Air aircraft after mid-flight engine failure

By Ifunanya / July 1, 2025

The Nigeria Civil Aviation Authority (NCAA) has grounded a Rano Air aircraft with registration number 5N-BZY following an in-flight engine […]

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DMO releases results of April 2025 FGN Bond auction

Concerns as Nigeria’s debt balloons to N149.39tn amid worsening infrastructural deficit

By Ifunanya / July 1, 2025

Financial experts and economists have raised concerns over Nigeria’s N149.39 trillion debt profile at the end of the first quarter […]

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ICAN to establish 'Governor Bago' Student Centre in Minna

ICAN to establish ‘Governor Bago’ Student Centre in Minna

By Ifunanya / July 1, 2025

The President of the Institute of Chartered Accountants of Nigeria, ICAN, Dr. Haruna Nma Yahaya, has announced plans to set […]

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Dangote Refinery reduces fuel price as petrol marketers hold emergency meeting

Dangote Refinery reduces fuel price as petrol marketers hold emergency meeting

By Ifunanya / July 1, 2025

Nigeria’s Dangote Refinery has reduced its premium motor spirit ex-depot price to N840 from N880 per litre. This comes as […]

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Naira appreciates against dollar across official, black markets

Naira appreciates against dollar on official market

By Ifunanya / July 1, 2025

The naira appreciated significantly against the dollar at the official foreign exchange market to begin the week on a bullish […]

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Nigerian banks announce early closure over half-year audit

Nigerian banks announce early closure over half-year audit

By Ifunanya / June 30, 2025

Nigerian commercial banks have announced early closure from Monday, June 30, 2025. The banks gave scheduled half-year audit activities as […]

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DMO: Data Analyst Ogunsanwo picks holes in Nigeria's N149.39tn debt

DMO: Data Analyst Ogunsanwo picks holes in Nigeria’s N149.39tn debt

By Ifunanya / June 30, 2025

Babajide Ogunsanwo, a data analyst, has picked holes in Nigeria’s N149.39 trillion debt figure as of the first quarter of […]

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FCMB opens new branch at Sangotedo in Lagos

FCMB opens new branch at Sangotedo in Lagos

By Ifunanya / June 30, 2025

First City Monument Bank (FCMB) officially commissioned a new branch in Sangotedo, Lagos, on June 26, 2025. Local leaders expressed […]

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US lifts Russia sanctions that blocked key NPP construction in EU state — RT Business News

US Lifts Sanctions on Gazprombank for Hungary’s Paks-2 Nuclear Power Plant Project

By Ifunanya / June 29, 2025

In a significant development, the United States has lifted sanctions that previously barred financial transactions with Russia’s Gazprombank related to […]

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TCN announces 120MW addition to national grid

TCN announces 120MW addition to national grid

By Ifunanya / June 29, 2025

The Transmission Company of Nigeria, TCN, has announced that it has energised two newly installed power transformers at its 330/132/33 […]

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New tax law will impact livelihood – ICAN

By Ifunanya / June 29, 2025

The Institute of Chartered Accountants of Nigeria, (ICAN), has commended President Bola Tinubu for signing into law, four tax reform […]

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