African Business News

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

Eko DisCo announces 25-day blackout in Lagos

Eko DisCo announces 25-day blackout in Lagos

By Ifunanya / July 25, 2025

Eko Electricity Distribution Company has announced a 25-day blackout in parts of Lagos State. Eko DisCo disclosed this in a […]

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Paris Club Refund: Consultant slams contempt charges against CBN gov

Reps give CBN Governor 14 days to remit N3.64trn or face arrest

By Ifunanya / July 25, 2025

The Joint Committees on Public Accounts and Public Assets of the House of Representatives have given Central Bank of Nigeria, […]

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TCN announces 120MW addition to national grid

TCN, Kano govt resolve legal obstacle to Kumbotso-Rimin Zakara 330 kV electricity project

By Ifunanya / July 25, 2025

The Transmission Company of Nigeria, TCN, Kano Region and the Kano State Ministry of Land said they have resolved the […]

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EU’s Russian diesel ban forcing prices up – industry boss — RT Business News

EU Sanctions Drive Long-Term Diesel Price Surge, TotalEnergies Warns

By Ifunanya / July 25, 2025

European Union sanctions targeting Russian-linked oil supplies have triggered a surge in global diesel prices, with industry leaders warning of […]

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This is dangerous - Expert Iromini disagrees with NERC over rejection of Enugu regulator's electricity tariff reduction

This is dangerous – Expert Iromini disagrees with NERC over rejection of Enugu regulator’s electricity tariff reduction

By Ifunanya / July 25, 2025

An energy expert and Chief Executive Officer of Solarcentric, Adetunji Iromini, has faulted the Nigerian Electricity Regulatory Commission over its […]

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NERC rejects Enugu regulator's electricity tariff reduction, reveals next action plan

NERC rejects Enugu regulator’s electricity tariff reduction, reveals next action plan

By Ifunanya / July 25, 2025

The Nigerian Electricity Regulatory Commission has rejected the Enugu Electricity Regulatory Commission over the latter’s controversial Multi-Year Tariff Order, which […]

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Naira records highest appreciation against dollar since Trump's tarrif pause

Naira records first appreciation across official, black markets in days

By Ifunanya / July 25, 2025

Nigeria’s currency, the naira, on Thursday recorded its first appreciation against the dollar this week across the official and parallel […]

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Canal+ finalizes $3bn acquisition of MultiChoice

By Ifunanya / July 24, 2025

French media giant Canal+ has completed a $3 billion acquisition of South Africa’s MultiChoice Group, taking full control of leading […]

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Man electrocuted by live wire in Maiduguri

They’re deceiving you — Discos threaten darkness over electricity reduction in Enugu

By Ifunanya / July 24, 2025

The Association of Nigerian Electricity Distributors, ANED, have threatened to plunge Band A electricity customers in Enugu State into darkness […]

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'Implementation' - Electricity customers finger major problem with tariff reduction in Enugu

‘Implementation’ – Electricity customers finger major problem with tariff reduction in Enugu

By Ifunanya / July 24, 2025

Electricity consumers have raised major concerns with the recent Band A electricity tariff cut announcement by the Enugu Electricity Regulatory […]

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Battle over electricity tariff cut ranges as state commissioners back Enugu regulator

Battle over electricity tariff cut ranges as state commissioners back Enugu regulator

By Ifunanya / July 24, 2025

The controversy over electricity tariff reduction in states rages on as the state electricity commissioners on Wednesday backed the Enugu […]

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Man electrocuted by live wire in Maiduguri

They can’t even pay minimum wage – Nigerian govt on reduction of electricity tariff in states

By Ifunanya / July 24, 2025

The Federal Government of Nigeria has said that state governments may not have the capacity to carry the burden of […]

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Naira appreciates massively against dollar in black market

Naira records three straight depreciations against dollar as foreign reserves drop

By Ifunanya / July 24, 2025

Nigeria’s naira continued its depreciation streak against the dollar at the official foreign exchange market on Wednesday for the third […]

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Asian company achieves $1 trillion valuation for first time — RT Business News

AI Boom Drives TSMC to $1 Trillion Cap, First Asian Tech Titan

By Ifunanya / July 23, 2025

Taiwan Semiconductor Manufacturing Company (TSMC) has achieved a historic milestone, becoming the first Asian company to reach a market value […]

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Mass bankruptcies threaten Russian construction sector – industry leader — RT Business News

Russian Infrastructure Bankruptcies Surge Amid High Rates, Weak Demand

By Ifunanya / July 23, 2025

Russia’s infrastructure construction sector is bracing for a surge in bankruptcies as soaring borrowing costs and shrinking demand strain companies, […]

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ICPC, EFCC asked to investigate 31 MDAs over N103.8bn, $950,912 financial infractions

ICPC, EFCC asked to investigate 31 MDAs over N103.8bn, $950,912 financial infractions

By Ifunanya / July 23, 2025

The Economic and Financial Crimes Commission, EFCC, and Independent Corrupt Practices and Other Related Offences Commission, ICPC, have been petitioned […]

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All you need to know about missing N210tn in NNPCL

NNPC Cuts Fuel Price Again to N890, Second Drop in a Week

By Ifunanya / July 23, 2025

Nigeria’s state-owned oil company has announced its second reduction in fuel prices within a week, signaling continued shifts in the […]

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BUA Cement Plc records strong revenue growth of 90.5% to N867.5bn, pays N2.05 dividend per share

BUA Cement AGM 2024: ₦876.5B Revenue & 17MMTPA Expansion Milestone

By Ifunanya / July 23, 2025

BUA Cement Plc reported a surge in revenue and profits during its Annual General Meeting, signaling robust growth amid strategic […]

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Dangote Refinery reduces fuel price as petrol marketers hold emergency meeting

Dangote Refinery turns Nigeria into net crude importer with 10m barrels monthly

By Ifunanya / July 23, 2025

President of Dangote Group, Aliko Dangote, has said that his refinery imports between 9 and 10 million barrels of crude […]

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Naira records highest appreciation against dollar since Trump's tarrif pause

Naira continues depreciation against dollar after CBN fails to cut interest rate

By Ifunanya / July 23, 2025

The Nigerian naira continued to depreciate against the dollar at the official foreign exchange market on Tuesday as the Central […]

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