AI investment frenzy sparks bubble concerns amidst massive compute investments
Recent investments by tech companies in data centers and AI chips have sparked debate about whether the AI industry is […]
African Business News
Stay updated with the latest African business news, including market trends, economic updates, and insights into industries across the continent.
Nigeria seeks $2 billion loan from China for power grid upgrade
Nigeria is in talks with China’s Export-Import Bank to secure a $2 billion loan for the development of a new
Trump imposes 25% tariff on US truck imports
The United States has announced a 25% tariff rate on all medium- and heavy-duty trucks imported into the country, effective
Gold price forecast raised to $4900 by Goldman Sachs
Goldman Sachs has revised its gold price forecast for December 2026, increasing it to $4,900 per ounce from $4,300. The
Nigeria economy grows 3.8% this year
The World Bank has upgraded its growth forecast for sub-Saharan African economies, including Nigeria, to 3.8% for this year, driven
LPG price stable at N1200 per litre in Abuja
The price of liquefied petroleum gas, commonly known as cooking gas, has remained stable in the Federal Capital Territory, with
Nigeria seeks $500 million AfDB loan for budget support
The Federal Government of Nigeria is seeking to borrow $500 million from the African Development Bank (AfDB) this year, as
CBN Sets New POS Transaction Limits At N1.2 Million
The Central Bank of Nigeria (CBN) has introduced new guidelines for agent banking, also known as Point of Sales (POS),
Renewable energy growth slowing
The International Energy Agency (IEA) has reported a slowdown in the growth of renewable energy, citing policy changes in the
Nigeria Fuel Price Increases to N945 per Litre
Nigerians in Abuja are facing increased fuel prices, with some filling stations selling petrol at between N905 and N945 per
EU Hikes Steel Tariffs to 50% to Counter Chinese Imports
The European Union is set to unveil a plan to increase tariffs on steel imports, aiming to protect its struggling
Japanese stocks hit record high amid election and US shutdown
Japanese stocks have reached a new record high, driven by the election of Sanae Takaichi, a pro-stimulus advocate, to lead