African Business News

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

Again Naira slumps massively against dollar across black, official markets

Naira continues depreciation across official, black markets

By Ifunanya / March 13, 2025

The naira continued its depreciation against the dollar across official and parallel foreign exchange markets on Wednesday. According to the […]

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Lagos largest city in Africa after Cairo

Lagos largest city in Africa after Cairo

By Ifunanya / March 12, 2025

Lagos State has been ranked as Africa’s second-largest city after Cairo, Egypt. This achievement comes as the state’s Gross Domestic […]

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Bitcoin reserves can earn US $81tn revenue amid freefall

Bitcoin reserves can earn US $81tn revenue amid freefall

By Ifunanya / March 12, 2025

Cryptocurrency expert and executive chairman of software intelligence firm Microstrategy, Michael Saylor, said Strategic Bitcoin Reserve could earn the United […]

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Nigeria, US stock markets tumble

Nigeria, US stock markets tumble

By Ifunanya / March 12, 2025

Nigeria’s stock market on Tuesday experienced a bearish performance as investors lost N285, or 0.43 percent. The Nigerian Exchange Limited, […]

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Fuel landing cost drops to N774/litre

Fuel landing cost drops to N774/litre

By Ifunanya / March 12, 2025

The landing cost of premium motor spirit dropped to N774.82 per litre, cheaper than the ex-depot price of Dangote Refinery’s […]

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Nigerian naira continues free-fall against dollar

Nigerian naira continues free-fall against dollar

By Ifunanya / March 12, 2025

The Nigerian naira continued its decline against the dollar at the official foreign exchange market on Tuesday. This comes as […]

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Tinubu appoints Olorunnimbe UBEC chairman

Tinubu appoints Olorunnimbe UBEC chairman

By Ifunanya / March 11, 2025

President Bola Ahmed Tinubu has announced Idris Olorunnimbe as the Chairman of the Universal Basic Education Commission, UBEC, Board. A […]

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NNPC’s price drop relief to Nigerians — PETROAN

Petrol price drop: PETROAN meets Nigerian Petroleum Minister

By Ifunanya / March 11, 2025

The Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, met with Nigeria’s Minister of State (Oil), Senator Heineken Lokpobiri, […]

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TCN gives reason for outage in Lagos

TCN gives reason for outage in Lagos

By Ifunanya / March 11, 2025

The Transmission Company of Nigeria, TCN, has explained that the electricity disruption in parts of Lagos State is due to […]

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Dangote: Reopen Kaduna refinery now – Energy experts tell NNPCL

Dangote: Reopen Kaduna refinery now – Energy experts tell NNPCL

By Ifunanya / March 11, 2025

Energy experts under the aegis of the Arewa Youths Initiative for Energy Reforms, AYIFER, have called on the Nigerian National […]

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US EPA cancels 400 non-essential grants worth $1.9bn, saves $2bn

US EPA cancels 400 non-essential grants worth $1.9bn, saves $2bn

By Ifunanya / March 11, 2025

The administrator of the United States of America Environmental Protection Agency, Lee Zeldin, cancelled 400 DEI and Environmental Justice grants […]

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Why retailers, marketers dump Dangote Refinery petrol for import – Stakeholders

Why retailers, marketers dump Dangote Refinery petrol for import – Stakeholders

By Ifunanya / March 11, 2025

Petroleum Products Retailers and marketers have explained why petrol imports have persisted despite the Dangote Refinery and other local refineries’ […]

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Naira defies CBN policies, continues slump against dollar

Naira defies CBN policies, continues slump against dollar

By Ifunanya / March 10, 2025

The naira defied the Central Bank of Nigeria’s policy interventions as it depreciated against the dollar at the official foreign […]

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Nigeria expects 7% GDP growth per annum — Finance Minister Edun

Nigeria expects 7% GDP growth per annum — Finance Minister Edun

By Ifunanya / March 10, 2025

Nigeria’s Minister of Finance, Wale Edun, has stated that the country expects an ambitious 7 per cent annual Gross Domestic […]

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NNPCL refutes ending Naira-for-crude deal with Dangote Refinery

NNPCL refutes ending Naira-for-crude deal with Dangote Refinery

By Ifunanya / March 10, 2025

The Nigerian National Petroleum Company Limited, NNPCL, has denied terminating its naira-for-crude sale deal with Dangote Refinery. The spokesperson for […]

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Fuel subsidy removal policy yielding results — Tinubu

Fuel subsidy removal policy yielding results — Tinubu

By Ifunanya / March 10, 2025

President Bola Tinubu has declared that his fuel subsidy removal policy is yielding the desired results, as prices are gradually […]

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NNPC’s price drop relief to Nigerians — PETROAN

Marketers lost billions to NNPC, Dangote’s fuel price reduction – PETROAN pushes for 6-month stability plan

By Ifunanya / March 10, 2025

The Petroleum Products Retail Outlet Owners Association has said that petrol marketers lost billions due to the downward review of […]

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Dangote Refinery suffers as Nigeria’s petrol import jumps 105% to N15.4tn

Dangote Refinery suffers as Nigeria’s petrol import jumps 105% to N15.4tn

By Ifunanya / March 10, 2025

Nigeria’s cost of importing premium motor spirit and other petroleum products soared to N15.4 trillion in 2024 from N7.5 trillion […]

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NBS names top five exports, imports destinations for Nigeria

Nigeria’s exports decline as imports soar in Q4 2024 – NBS

By Ifunanya / March 9, 2025

Nigeria’s goods exports decreased by 2.55 percent in Quarter Four (Q4) 2024 to a value of N20,014.33 billion from N20,537.17 […]

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NBS names top five exports, imports destinations for Nigeria

NBS names top five exports, imports destinations for Nigeria

By Ifunanya / March 9, 2025

The National Bureau of Statistics has said Nigeria’s top five trading export partners in the fourth quarter of 2024 were […]

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