African Business News

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

Bayelsa Govt reveals secret behind state’s IGR surge to N4.2bn

Bayelsa Govt reveals secret behind state’s IGR surge to N4.2bn

By Ifunanya / March 30, 2025

The Bayelsa State Internal Revenue Service, BIRS, has explained the reason behind the state’s internally generated revenue surging by 320 […]

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Nigerian stock market investor records N148bn gain to end week

Nigerian stock market investor records N148bn gain to end week

By Ifunanya / March 29, 2025

Investors at the Nigerian stock market recorded N148 billion on Friday to end the week on a bullish trend. At […]

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Naira depreciates across official, black FX markets

Naira records significant appreciation against the dollar at the black market weekly

By Ifunanya / March 29, 2025

The Naira appreciated significantly against the dollar at the parallel foreign exchange market weekly from March 24 to 28, 2025. […]

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Naira continues depreciation against dollar, records highest decline weekly

Nigeria’s naira gains against dollar across official, black markets

By Ifunanya / March 28, 2025

Nigeria’s currency, the naira, appreciated against the dollar across both official and parallel foreign exchange markets, ending the week on […]

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GTCO profit jumps by 107.8 per cent to N1.266tn profit in 2024

GTCO profit jumps by 107.8 per cent to N1.266tn profit in 2024

By Ifunanya / March 28, 2025

Guaranty Trust Holding Company Plc has released its audited consolidated and separate financial statements for the year ended December 31, […]

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IMF appoints Nigerian businessman, Tony Elumelu to advisory council

IMF appoints Nigerian businessman, Tony Elumelu to advisory council

By Ifunanya / March 28, 2025

The International Monetary Fund, IMF, has appointed Nigerian billionaire and group chairman of Heirs Holdings, owners of United Bank of […]

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Trump auto tariff: US no longer a reliable partner with Canada, we’ll fight back – PM Carney

Trump auto tariff: US no longer a reliable partner with Canada, we’ll fight back – PM Carney

By Ifunanya / March 28, 2025

The Prime Minister of Canada, Mark Carney, vowed to fight the United States of America with a retaliatory tariff. This […]

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US: Musk pledges to finish most of $1 trillion federal cost cuts within weeks

US: Musk pledges to finish most of $1 trillion federal cost cuts within weeks

By Ifunanya / March 28, 2025

US President Donald Trump’s adviser, Elon Musk, on Thursday said he would finish most of the work to cut $1 […]

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US halts financial contributions to WTO

US halts financial contributions to WTO

By Ifunanya / March 28, 2025

The United States has paused contributions to the World Trade Organization, WTO, as President Donald Trump’s administration ramps up efforts […]

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Trump tariffs: Nothing off table in response to US duties – Canada PM, Carney

Trump tariffs: Nothing off table in response to US duties – Canada PM, Carney

By Ifunanya / March 28, 2025

New Canadian Prime Minister, Mark Carney said on Thursday that his country would wait until next week to strike back […]

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Musk announces activation of Starlink in Armenia

Musk announces activation of Starlink in Armenia

By Ifunanya / March 27, 2025

Tech billionaire and head of the United States Department of Government Efficiency, Elon Musk, has announced that Starlink is now […]

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Naira records mixed sentiments against dollar across FX markets

Naira records third consecutive depreciation against dollar

By Ifunanya / March 27, 2025

The Nigerian naira recorded its third consecutive depreciation against the dollar in the official foreign exchange market on Thursday. Data […]

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US auto tariffs: South Korea plans emergency response

US auto tariffs: South Korea plans emergency response

By Ifunanya / March 27, 2025

South Korea’s Minister of Industry, Ahn Duk-geun, said his country’s auto sector is expected to face considerable difficulties when U.S. […]

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Nigeria’s statistical system needs $15m investment yearly – World Bank

Nigeria’s statistical system needs $15m investment yearly – World Bank

By Ifunanya / March 27, 2025

The World Bank said Nigeria needs between $10 and $15 million investment annually in its statistical system to outperform that […]

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Again Naira slumps massively against dollar across black, official markets

Naira appreciates against dollar at black market after Cardoso’s warning

By Ifunanya / March 27, 2025

The Naira appreciated against the dollar at the parallel foreign exchange market on Wednesday. A Bureau de Change operator in […]

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Expect more fuel price drop amid NNPC, Dangote war – PETROAN, IPMAN to Nigerians

Landing cost of petrol increases to N885 per litre

By Ifunanya / March 27, 2025

The landing cost of imported premium motor spirit increased to N885 per litre on Wednesday from N797. The Major Energy […]

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We must root out bad actors’ — Cardoso on Naira exchange rate against dollar

We must root out bad actors’ — Cardoso on Naira exchange rate against dollar

By Ifunanya / March 26, 2025

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, says the apex bank must sustain its fight against foreign […]

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US dollar gains as tariff uncertainty remains in focus

US dollar gains as tariff uncertainty remains in focus

By Ifunanya / March 26, 2025

The US dollar on Wednesday strengthened against the Euro and Yen as traders mulled whether tariffs planned by the US […]

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NNPC’s price drop relief to Nigerians — PETROAN

Dangote Refinery: PETROAN kicks against petrol sale in dollars

By Ifunanya / March 26, 2025

The Petroleum Products Retail Outlet Owners Association of Nigeria has kicked against the sale of petroleum products in the Nigerian […]

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Nigerian firm sues CBN for N4.1b over alleged negligence

Nigerian firm sues CBN for N4.1b over alleged negligence

By Ifunanya / March 26, 2025

Oil services firm Zumax Nigeria Limited has sued the Central Bank of Nigeria (CBN) for N4.1 billion, accusing it of […]

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