Business News

Nigeria’s debt servicing costs rose to 4.1% of Gross Domestic Product (GDP) in 2024, up from 3.7% in 2023, according to the latest Country Focus Report published by the African...

The Federal Government of Nigeria, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has officially scheduled a national petrol pricing summit for July 23–24, 2025. The two-day forum will...

Unity Bank Plc has continued its drive to support youth entrepreneurship by awarding ₦16 million in grants to 30 promising young business owners through its flagship Corpreneurship Challenge. The latest...

African startups secured a remarkable $365 million in fresh funding last month, making June 2025 the strongest month for fundraising so far this year and the most robust performance in...

The 17th US–Africa Business Summit, held from June 22–25, resulted in over $2.5 billion in new trade deals and commitments between American and African participants, according to the U.S. Department...

The World Bank has approved an additional $65 million credit for Nigeria’s Sustainable Procurement, Environmental, and Social Standards Enhancement (SPESSE) project, increasing the total financing for the initiative to $145...

Between March 2024 and May 2025, the Federal Government disbursed a total of ₦1.6 trillion to state governments and the Federal Capital Territory (FCT) to support infrastructure and security projects....

Dangote Petroleum Refinery will cover over ₦1.07 trillion annually in logistics expenses as it begins direct distribution of fuel products across Nigeria. To support this, the company is investing ₦720 billion to...

According to a recent report by Visual Capitalist, drawing on data from the International Monetary Fund (IMF), Nigeria ranks as the 12th poorest country in the world by GDP per...

Nigeria is losing a staggering $1.1 billion annually to medical tourism, according to the African Export-Import Bank (Afreximbank)—a trend it warns is draining foreign exchange and stalling the country’s healthcare...