African Business News

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

Nigeria's inflation drop reflects reality of consumption patterns — Cardoso

Nigeria’s inflation drop reflects reality of consumption patterns — Cardoso

By Ifunanya / February 20, 2025

The Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso said Nigeria’s current Consumer Price Index is reflective of […]

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Two Nigerians win Commonwealth Peace Prize of £50,000

Two Nigerians win Commonwealth Peace Prize of £50,000

By Ifunanya / February 20, 2025

Two Nigerians, James Wuye and Muhammad Ashafa, won the inaugural Commonwealth Peace Prize of £50,000. Accordingly, Wuye and Ashafa, the […]

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CBN announces fresh date for first MPC meeting in 2025

CBN retains Nigeria’s interest rate at 27.50% amid inflation drops

By Ifunanya / February 20, 2025

The Central Bank of Nigeria Monetary Policy Committee has retained the country’s interest rate at 27.50 percent in January, the […]

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Nigeria's electricity generation hits new peak of 5,543.20 MW - TCN

Nigeria’s electricity generation hits new peak of 5,543.20 MW – TCN

By Ifunanya / February 20, 2025

The Transmission Company of Nigeria has said the country’s electricity generation attained a new peak of 5,543.20 megawatts as of […]

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Dangote Refinery, others met 50% of Nigeria's petrol consumption in February - NMDPRA

Dangote Refinery, others met 50% of Nigeria’s petrol consumption in February – NMDPRA

By Ifunanya / February 20, 2025

The Nigerian Midstream and Downstream Petroleum Regulatory Authority has said that Dangote Refinery and other local refineries in the country […]

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‘Prices of Spaghetti, flour dropped’: Nigerian govt tells traders to reduce food cost

‘Prices of Spaghetti, flour dropped’: Nigerian govt tells traders to reduce food cost

By Ifunanya / February 19, 2025

Nigeria’s federal government has told retailers to reduce food prices and shunned exploiting consumers amid January’s drop in the inflation […]

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Trump: Elon Musk-led DOGE terminates 568 wasteful contracts worth $2.1 billion

US Tax refund: Elon Musk agrees to discuss ‘DOGE Dividend’ with Trump

By Ifunanya / February 19, 2025

The United States of America billionaire has agreed to discuss a Department of Government Efficiency Dividend proposal, which means tax […]

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Nigeria's naira records highest appreciation against dollar

Nigeria’s naira records highest appreciation against dollar

By Ifunanya / February 18, 2025

The naira exceeded expectations to record its highest gain against the dollar at the parallel foreign exchange market in recent […]

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NNPCL has not imported petrol in 2025 — Kyari

NNPCL has not imported petrol in 2025 — Kyari

By Ifunanya / February 18, 2025

The Group Chief Executive Officer of the Nigerian National Petroleum Company, NNPC, has clarified that the company has not imported […]

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CBN announces fresh date for first MPC meeting in 2025

CBN announces new guidelines on management of dormant accounts, unclaimed balances

By Ifunanya / February 18, 2025

The Central Bank of Nigeria, CBN, has announced new guidelines for management of dormant accounts, unclaimed balances, and other financial […]

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CBN announces fresh date for first MPC meeting in 2025

FG, CBN to facilitate single digit loans for MSMEs

By Ifunanya / February 18, 2025

The Federal Government, through the Central Bank of Nigeria has constituted a Presidential Committee to disburse single digit loan facility […]

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USAID: How Trump's presidency impacts Nigerian economy negatively - CPPE

Reasons drop in Nigeria’s inflation doesn’t result in price reduction – CPPE

By Ifunanya / February 18, 2025

The Centre for the Promotion of Private Enterprise, CPPE, has explained that the sharp deceleration of Nigeria’s inflation in January […]

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Dangote behind campaign against NNPC —Report alleges

Dangote behind campaign against NNPC —Report alleges

By Ifunanya / February 18, 2025

There is no end in sight for the tit-for-tat between key players in Nigeria’s oil and gas sector, the Nigerian […]

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Nigerians can now convert naira to foreign currencies directly on Send App - Flutterwave

Nigerians can now convert naira to foreign currencies directly on Send App – Flutterwave

By Ifunanya / February 18, 2025

Flutterwave, Africa’s leading payments technology company, has announced that its innovative foreign currency exchange solution, Swap, is now accessible through […]

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Nigeria's inflation drops massively to 24.48% after CPI rebase

Nigeria’s inflation drops massively to 24.48% after CPI rebase

By Ifunanya / February 18, 2025

Nigeria’s inflation rate dropped massively to 24.48 percent in January 2024 from 34.80 percent in December last year after the […]

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Ramadan: Kano traders call out Dangote, BUA over prices of sugar

Ramadan: Kano traders call out Dangote, BUA over prices of sugar

By Ifunanya / February 18, 2025

The popular Singer Market Development Association (SIMDA), representing traders in Kano, has called on Dangote and BUA sugar companies to […]

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Price war: Nigerians dump NNPCL petrol for Dangote

By Ifunanya / February 18, 2025

Many Nigerians have dumped Nigerian National Petroleum Company Limited, NNPLC, retail outlets for the Dangote Refinery, in partnership with MRS […]

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$700m sugar investment will end Nigeria's importation - Dangote

‘If $23bn refinery didn’t work, I was dead’ – Dangote

By Ifunanya / February 18, 2025

Nigerian billionaire businessman, Aliko Dangote, has claimed his $23bn refinery project is the “biggest risk” of his life. Dangote stated […]

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Naira gains N15 against dollar at black market

Naira appreciates against dollar across FX markets

By Ifunanya / February 18, 2025

The Naira continued its appreciation against the dollar at both the parallel and official foreign exchange markets on Monday to […]

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CBN announces fresh date for first MPC meeting in 2025

CBN seeks robust economic ties with Middle East

By Ifunanya / February 17, 2025

The Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso, has called for robust economic ties with the Middle […]

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