Africa’s richest man, and ironically, the owner of the continent’s largest single train oil refinery, Aliko Dangote, has expressed concern about the Nigerian government’s ability to manage a functional oil refinery. Dangote, who built the 650,000 bpd Dangote Refinery, spoke about his time trying to revive some of the state-owned refineries. Aliko Dangote expressed skepticism…
In today’s globalized world, a country’s ability to defend its economy, stabilize its currency, and maintain strategic autonomy is heavily reliant on the strength of its foreign exchange and gold reserves. Business Insider Africa presents the top 10 African countries with the lowest reserves of foreign exchange and gold. This list is courtesy of Global…
According to Nigeria’s Minister of Steel, Shuaibu Audu, imported steel goods cost the country almost $4 billion each year. Nigeria loses nearly $4 billion annually due to imported steel, according to Minister Shuaibu Audu. The National Steel Summit, scheduled for July 2025, aims to address issues in the steel sector. A partial operation of the…
Donald Trump’s anticipated meeting with five African leaders, including the presidents of Mauritania, Senegal, Gabon, Guinea-Bissau, and Liberia, took place on July 9, 2025, as scheduled. The heads of state present at the meeting had a great deal of issues to address. Donald Trump met with five African leaders on July 9, 2025, to discuss…
U.S. President Donald Trump raised eyebrows on Wednesday after complimenting Liberian President Joseph Boakai on his English, despite English being Liberia’s official language. President Trump complimented Liberian President Boakai’s English during a meeting. English is Liberia’s official language due to historical ties to the U.S. Trump has previously commented on the language skills of international…
Lesotho, a small, landlocked lower-middle-income country entirely surrounded by South Africa, has declared a national state of disaster in response to the severe economic fallout from newly imposed U.S. tariffs that have disrupted its key export sectors and deepened strain on its already fragile economy. Lesotho has declared a national state of disaster due to…
Nigeria is poised to welcome a massive $15 billion investment in a 500,000 barrels per day (bpd) refinery project, marking a significant milestone in the country’s efforts to boost its refining capacity and reduce dependence on imported petroleum products. Nigeria plans to establish a $15 billion oil refinery with a capacity of 500,000 barrels per…
Nigeria’s Dangote Petroleum Refinery is set to build large fuel storage tanks in Namibia’s Walvis Bay to hold at least 1.6 million barrels of gasoline and diesel. Dangote Petroleum Refinery plans to construct large-scale fuel storage facilities in Walvis Bay, Namibia, with a capacity of 1.6 million barrels. This initiative supports Dangote’s strategy to dominate…
South Africa’s sluggish economic growth since 2010 has left its citizens markedly poorer than the global average, according to Investec Wealth & Investment International. South Africa’s economic growth has been slow since 2010, impacting its GDP per capita. The country’s GDP per capita in 2023 was $15,194, below the global average of $22,850. Challenges include…
