African Business News

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

Euro could dethrone US dollar – ECB — RT Business News

Euro Could Rival US Dollar as Global Reserve Currency with Reforms

By Ifunanya / May 26, 2025

Global investors are growing increasingly concerned about the recent trade policy moves made by Washington, according to European Central Bank […]

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Nigerian economy worse off under Tinubu than Buhari — Economist, Erumebor

By Ifunanya / May 26, 2025

A senior economist at the Nigerian Economic Summit Group, Wilson Erumebor, has said that Nigeria’s economy is worse under President […]

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Polish farmers call for Russian cucumber ban — RT Business News

Poland Seeks Ban on Russian Cucumber Imports Amid Surge in Cheap Exports

By Ifunanya / May 26, 2025

Poland has become the European Union’s top buyer of cucumbers, with imports soaring in 2025. This surge has led Polish […]

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Trump agrees to delay EU tariffs — RT Business News

US Delays 50% Tariff on EU Goods Until July 9 After Trump and EU Leader Agree on Extension

By Ifunanya / May 26, 2025

In a significant development, the United States has announced a delay in introducing a 50% tariff on goods from the […]

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2025 budget: N393bn worth of streetlights should make Nigeria 'light of the world' - Kalu Aja

2025 budget: N393bn worth of streetlights should make Nigeria ‘light of the world’ – Kalu Aja

By Ifunanya / May 26, 2025

A financial analyst, Kalu Aja, has said that with Nigeria’s 2025 budget for streetlights amounting to N393.29 billion, the country […]

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Port Harcourt Refinery shutdown: PETROAN makes fresh demands on NNPCL

Port Harcourt Refinery shutdown: PETROAN makes fresh demands on NNPCL

By Ifunanya / May 26, 2025

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has asked Nigerian National Petroleum Company Limited (NNPCL) to adhere […]

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2,000MW electricity generation capacity stranded due to N600bn debt - NDPHC

2,000MW electricity generation capacity stranded due to N600bn debt – NDPHC

By Ifunanya / May 26, 2025

The management of Niger Delta Power Holding Company has lamented that its 2,000-megawatt electricity generation capacity is stranded due to […]

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Musk ‘back to 24/7’ work on his business projects — RT Business News

Elon Musk to Reduce Role in Trump Administration and Focus on Business Ventures

By Ifunanya / May 25, 2025

Elon Musk, the CEO of Tesla and SpaceX, has announced plans to reduce his role in President Donald Trump’s administration. […]

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Bandit kingpin, Kachalla Halilu acquired gun truck for N28.5m - Witness

Contributory Pension Scheme: Judge warns Nigerian employers against non-remittance

By Ifunanya / May 25, 2025

Justice Olufunke Anuwe of the National Industrial Court has warned Nigerian employers over non-remittance or under-remittance of contributory pensions of […]

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Naira appreciates against dollar across official, black markets

Naira appreciates massively against dollar on week-on-week basis

By Ifunanya / May 25, 2025

The Nigeria’s currency, the naira appreciated massively against the dollar at both official and parallel foreign exchange markets on a […]

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PETROAN seeks IGP’s intervention as oil mogul Obasi Lawson goes missing after deadly attack

Incompetence — PETROAN reveals reason NNPCL shut down Port Harcourt Refinery

By Ifunanya / May 24, 2025

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has said the real reason the Nigerian National Petroleum Company […]

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Barriers to EU will reduce Kiev to begging – Ukrainian MP — RT Business News

EU Revokes Ukraine Trade Privileges Sparks Economic Concerns

By Ifunanya / May 24, 2025

The European Union’s decision to revoke trade privileges with Ukraine is set to have a devastating impact on the country’s […]

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Fuel price drop: Marketers sell PMS at Dangote Refinery new rate

Fuel price drop: Marketers sell PMS at Dangote Refinery new rate

By Ifunanya / May 23, 2025

Nigerian petroleum marketers have implemented a fresh premium motor spirit (PMS) price reduction following Dangote Refinery’s announcement of a downward […]

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Naira appreciates massively against dollar in black market

Naira records significant appreciation against dollar across official, black markets

By Ifunanya / May 23, 2025

The naira appreciated significantly against the dollar at both the official and parallel foreign exchange markets to end the week […]

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TCN snubs local manufacturers, awards Chinese firms over N160bn contracts

TCN announces power outage in Nasarawa, gives reason

By Ifunanya / May 23, 2025

The Transmission Company of Nigeria has announced that parts of Nasarawa State would experience a power outage on Saturday. TCN […]

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Price of Nigerian petrol makes smuggling into neigboring countries attractive - NMDPRA

Price of Nigerian petrol makes smuggling into neigboring countries attractive – NMDPRA

By Ifunanya / May 23, 2025

The relative cheapness of petrol in Nigeria makes it attractive for smugglers to divert the product from Nigerian destinations to […]

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EU to roll back Ukraine trade perks — RT Business News

EU to Reimpose Tariffs on Ukrainian Agricultural Imports Amid Mounting Pressure from Eastern European Members

By Ifunanya / May 23, 2025

The European Union has decided to reinstate tariffs on agricultural imports from Ukraine, following intense pressure from Eastern European member […]

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Contributory Pension Scheme: PenCom orders Nigerian employers on compliance

Contributory Pension Scheme: PenCom orders Nigerian employers on compliance

By Ifunanya / May 23, 2025

The National Pension Commission has issued a fresh order to all Licenced Pension Fund Operators (LPFOs) on compliance with the […]

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Investors lose N70bn in NGX

Investors lose N274bn as NGX continues downward trend

By Ifunanya / May 23, 2025

Investors lost N274 billion on the market as Nigerian Exchange Limited performance indices continued their downward trend. This comes as […]

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Lagos beats Istanbul, Pune to emerge fastest-growing tech city in 2025 – Report

By Ifunanya / May 23, 2025

A popular Netherlands-based research firm Dealroom.co, has named Nigeria’s Lagos as the fastest-growing tech ecosystem in the world for 2025, ahead […]

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