African Business News

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

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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Nigeria gaining global traction in oil, gas investment - NUPRC

ACEIP backs NUPRC call for $600bn yearly upstream oil, gas investment in Africa

By Ifunanya / May 22, 2025

The African Centre for Energy Investment and Policy (ACEIP) has described the call for African countries to secure at least […]

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Investors lose N70bn in NGX

Investors lose N70bn in NGX

By Ifunanya / May 22, 2025

Stock market investors in Nigerian Exchange Limited lost N70 billion in market capitalisation on Wednesday. This comes as stock performance […]

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Naira appreciates against dollar across official, black markets

Naira appreciates against dollar across official, black markets

By Ifunanya / May 22, 2025

The naira on Wednesday appreciated against the dollar across official and parallel foreign exchange markets. Central Bank of Nigeria official […]

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Italian commerce chamber calls for end to Russia sanctions — RT Business News

Italian-Russian Chamber of Commerce Urges Lifting of Sanctions Hurting Bilateral Trade

By Ifunanya / May 22, 2025

The Italian-Russian Chamber of Commerce is calling on the Italian government to reconsider the sanctions imposed on Russia, citing the […]

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Clark: Labour of our heroes in vain - Peter Obi shades Soyinka, Adeboye, Buhari, others

BudgIT: ‘Nigeria a scene of corruption’ – Peter Obi on N70trn budget fraud

By Ifunanya / May 21, 2025

The Labour Party’s standard bearer in the 2023 election, Peter Obi, Peter Obi has decried the relentless scene of corruption […]

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