African Business News

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

Naira appreciates against dollar across official, black markets

Nigeria’s naira returns to appreciation against dollar after inflation drops

By Ifunanya / June 17, 2025

The naira appreciated against the dollar in the official and parallel foreign exchange markets to begin the week on a […]

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Nigeria's food inflation drops for the second time to 21.14% in May

Nigeria’s food inflation drops for the second time to 21.14% in May

By Ifunanya / June 17, 2025

Africa’s most populous country, Nigeria’s food inflation rate has declined for the second consecutive time to 21.14 percent in May […]

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Nigerian FIRS extends operation time to achieve N25.2tn revenue target

Nigerian FIRS extends operation time to achieve N25.2tn revenue target

By Ifunanya / June 17, 2025

Nigeria’s revenue collection agency, the Federal Inland Revenue Service, FIRS, has ordered the extension of its tax office operational time […]

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Fuel price: Fear grips petroleum product stakeholders as Dangote Refinery pushes for monopoly

Fuel price: Fear grips petroleum product stakeholders as Dangote Refinery pushes for monopoly

By Ifunanya / June 17, 2025

Fear has gripped petroleum product marketers and retailers as Dangote Refinery fixed August 15, 2025, to begin distribution of premium […]

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Porsche explains why it ‘can’t’ leave Russia — RT Business News

Porsche Fails to Exit Russia Due to Unsuccessful Asset Sale Amid Sanctions

By Ifunanya / June 17, 2025

Porsche, the luxury German carmaker, has revealed that it has not exited the Russian market due to its inability to […]

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BREAKING: Despite rebase, Nigeria's inflation rate rises to 24.23%

BREAKING: Nigeria’s inflation drops to 22.97%

By Ifunanya / June 16, 2025

The National Bureau of Statistics, NBS, on Monday, announced that Nigeria’s headline inflation rate has dropped to 22.97 percent. NBS […]

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FIRS opens weekend tax services to ease pressure ahead of deadline

FIRS opens weekend tax services to ease pressure ahead of deadline

By Ifunanya / June 16, 2025

As the June 30 deadline for Companies Income Tax (CIT) filing approaches, the Federal Inland Revenue Service (FIRS) has opened […]

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BREAKING: Again, Dangote refinery slashes petrol prices nationwide

‘Monopoly in making’ – Retailers kick against Dangote Refinery’s direct supply plan

By Ifunanya / June 16, 2025

The Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, has kicked against Dangote Refinery’s move to distribute its petroleum […]

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BREAKING: Again, Dangote refinery slashes petrol prices nationwide

Dangote Refinery’s Direct Distribution Plan Sparks Monopoly Fears in Nigeria’s Petroleum Industry

By Ifunanya / June 16, 2025

Nigeria’s Petroleum Industry on High Alert: Dangote Refinery’s Move Sparks Monopoly Fears In a move that’s sent shockwaves through Nigeria’s […]

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Global oil prices: Iran, Israel strikes damage refinery, gas facilities

Global oil prices: Iran, Israel strikes damage refinery, gas facilities

By Ifunanya / June 16, 2025

Global oil prices have continued the week in gain amid tit-for-tat attacks by both Iran and Israel, as the crisis […]

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BREAKING: Again, Dangote refinery slashes petrol prices nationwide

Dangote Refinery Disrupts Nigeria’s Oil Downstream Market with Nationwide Fuel Distribution and CNG Stations

By Ifunanya / June 16, 2025

Dangote Refinery Set to Disrupt Nigeria’s Oil Downstream Market with Nationwide Fuel Distribution In a move that promises to significantly […]

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CPPE raises concerns over CBN interest rate pause

Israel-Iran conflict: CPPE warns of mixed impact on Nigerian economy

By Ifunanya / June 15, 2025

The Centre for the Promotion of Private Enterprise, CPPE, has outlined both the risks and possible benefits the escalating conflict […]

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Dangote Refinery's cheaper petrol unsettles marketers, importers

Dangote Refinery dumps marketers, begins direct supply of petrol, diesel to heavy users

By Ifunanya / June 15, 2025

Dangote Refinery has announced that it has begun the distribution of premium motor spirit and automotive gas oil (diesel) directly […]

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$30 billion GDP: Nsukka zone’s competitive, comparative advantages under-utilized - Chamber of Commerce

$30 billion GDP: Nsukka zone’s competitive, comparative advantages under-utilized – Chamber of Commerce

By Ifunanya / June 15, 2025

Nsukka Chamber of Commerce, Industry, Mines and Agriculture (NSCCIMA), has stated that the zone is advantageously placed towards the realization […]

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Nigerian Govt opens up on 'special prayers' for food security

Nigerian Govt opens up on ‘special prayers’ for food security

By Ifunanya / June 14, 2025

The Nigerian government, through the Federal Ministry of Agriculture and Food Security, has opened up on reports that it organized […]

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CBN directs Nigerian banks to pause dividend payments to foreign subsidiaries

CBN directs Nigerian banks to pause dividend payments to foreign subsidiaries

By Ifunanya / June 14, 2025

The Central Bank of Nigeria, CBN, has directed Nigerian banks under regulatory forbearance to put on hold dividend payments and […]

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Four Nigerian companies push NGX to N486bn single-day gain

Four Nigerian companies push NGX to N486bn single-day gain

By Ifunanya / June 14, 2025

Four Nigerian companies have propelled the Nigerian Exchange Limited (NGX) to a N486 billion single-day gain, ending the week on […]

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There's huge potential of non-oil export - Media group

There’s huge potential of non-oil export – Media group

By Ifunanya / June 14, 2025

The Independent Media and Policy Initiatives (IMPI) has stated that the recent report of $1.7 billion export earnings posted for […]

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World Bank downgrades global growth forecast, gives reason

World Bank downgrades global growth forecast, gives reason

By Ifunanya / June 14, 2025

Amid worldwide trade tension orchestrated by United States of America President Donald Trump, the World Bank cut its 2025 global […]

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Naira records highest depreciation against dollar in weeks

Naira records highest depreciation against dollar in weeks

By Ifunanya / June 13, 2025

The Nigerian currency, the naira, recorded its highest depreciation against the dollar on Friday at the official foreign exchange market […]

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