African Business News

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

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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Naira appreciates against dollar across official, black markets

Naira depreciates against dollar at official market

By Ifunanya / May 23, 2025

The naira depreciated slightly against the dollar at the official foreign exchange market on Thursday. The Central Bank of Nigeria […]

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Real reason for Dangote Refinery's fresh fuel price drop — IPMAN

Petrol marketers may lose N25/litre on Dangote Refinery’s fresh fuel price drop – IPMAN

By Ifunanya / May 22, 2025

The Independent Petroleum Marketers Association of Nigeria, IPMAN, has said its members may lose between N20 and N25 per litre, […]

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Flutterwave CEO appointed to inaugural Money20/20 Awards jury

Flutterwave CEO appointed to inaugural Money20/20 Awards jury

By Ifunanya / May 22, 2025

Flutterwave Founder and CEO, Olugbenga “GB” Agboola, has been appointed as a jury member for the Payments Award category at […]

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Ruble strengthens to two-year high against US dollar — RT Business News

Russian Ruble Hits Two-Year High Against US Dollar Amid Geopolitical Optimism and Hopes for Ukraine Peace Deal

By Ifunanya / May 22, 2025

The Russian ruble has reached a two-year high against the US dollar, driven by renewed hopes for a peaceful resolution […]

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Real reason for Dangote Refinery's fresh fuel price drop — IPMAN

Real reason for Dangote Refinery’s fresh fuel price drop — IPMAN

By Ifunanya / May 22, 2025

The Independent Petroleum Marketers Association has revealed that Dangote Refinery’s premium motor spirit price drops to control the country’s petroleum […]

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BREAKING: Again, Dangote refinery slashes petrol prices nationwide

BREAKING: Again, Dangote refinery slashes petrol prices nationwide

By Ifunanya / May 22, 2025

The Dangote Petroleum Refinery has announced a fresh reduction in the pump price of Premium Motor Spirit, popularly known as […]

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