Nigeria’s headline inflation dropped to 24.48 per cent for January, according to the National Bureau of Statistics (NBS). Nigeria’s headline inflation dropped to 24.48% in January after the rebasing of the Consumer Price Index. The previous inflation rate for December was 34.80%, attributed to higher demand during the festive season. Inflation has risen due to…
The business world is dominated by those willing to take risks, and the Nigerian billionaire Aliko Dangote seems very familiar with this concept, as the Dangote refinery has had to contend with what he refers to as the “oil mafia”. Aliko Dangote considers building and running the Dangote refinery as the biggest risk of his…
An economist Professor Godfred Bokpin has cautioned that the economy of Ghana has deteriorated further since the country joined the International Monetary Fund (IMF) programme. He warned that President Nana Akufo-Addo’s plan to exit the programme in 2026 could destabilise the economy if done prematurely. Professor Godfred Bokpin warns that Ghana’s economy has worsened since…
Some African leaders have voiced concern that Russia may be deploying ex-convicts as mercenary forces to Africa, a move that could lead to an increase in violent crime rates across the continent. The concern stems from reports that many of the Russian mercenary forces currently being deployed to Africa were ex-convicts initially recruited to fight…
The cost of dining out in restaurants has a prevalent influence on social and economic dynamics in many African cities. Business Insider Africa presents the top 5 African cities where eating out is very expensive. This list is courtesy of Numbeo. Harare, Zimbabwe ranks number 1 on the list. For most individuals, eating out is…
Dr. Samuel Maimbo, a frontrunner for the African Development Bank (AfDB) presidency, has outlined his vision for higher rates of economic growth, infrastructure modernization, and regional integration in Africa. Aiming to become the second Zambian to lead the bank, he stresses the need to reduce reliance on foreign aid by mobilizing domestic resources and private…
South Africa is exploring new allies in its bid to expand nuclear power, with Russia and Iran emerging as possible partners. South Africa is considering Russia and Iran as potential partners for expanding nuclear power capacity. U.S. concerns over South Africa’s ties with Iran have escalated tension between the two countries. The previous agreement with…
Discussions about Africa’s wealthiest people occasionally revolve around the fact that the majority of the country’s high-net-worth individuals are Caucasian, as opposed to black billionaires. Business Insider Africa presents the top 5 richest black billionaires in Africa in 2025. This list is courtesy of Forbes’s recent billionaire index. Aliko Dangote ranks number 1 on the…
Late last year, the Dangote refinery shook Nigeria’s oil market by announcing a reduction in its petrol price. Dangote refinery announced reduction in petrol price in Nigeria last year. Fuel prices have fluctuated due to the price shift initiated by the refinery. Experts believe that fuel prices could drop, reducing the country’s inflation levels. Since…
