Business

Nigeria and other African economies risk losing billions each year unless they replace outdated procurement systems with transparent digital platforms, industry leaders have warned. Fresh concerns emerged at the Digital Procurement Africa Summit 2026 in Lagos, organised by Gloopro, where policymakers, business executives, and supply chain experts examined how automation…

Africa’s trade recovery is facing a fresh threat as higher energy prices, tighter lending conditions and geopolitical tensions increase pressure on importers, exporters and manufacturers. The African Development Bank has warned that the continent’s trade finance gap could widen to about $86.6 billion by 2027 under a moderate-risk scenario. That…

Dangote Petroleum Refinery has emerged as the world’s biggest exporter of jet fuel, marking a major shift in Nigeria’s role in the global energy market. The refinery’s rise comes at a time when tensions in the Middle East are disrupting traditional fuel supply routes and pushing international buyers to seek…

Nigeria’s economy has been divided for three years after President Bola Tinubu took office. The government has seen revenue growth. The economy has grown in terms of GDP. The stock market has also made big gains. But the reforms have come at a high cost. Inflation remains high. Public debt…

Dangote Refinery has strengthened Nigeria’s position in the global aviation fuel market after becoming the world’s biggest exporter of jet fuel. The Lagos-based refinery has exported about 57 million barrels of jet fuel over the past two years, according to Business Insider Africa, citing Kpler shipment data. The report said…