Prime Business Africa

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Dangote Sugar Spent 85% Of Revenue On Production Costs, Recorded N72bn Loss In 2025

March 6, 2026

In 2025, Dangote Sugar Refinery Plc spent 85.21 percent of its revenue on the cost of production, compared to the 95.32 percent expended in 2024, according to Prime Business Africa’s (PBA) analysis. The impact of the cost of production on

News·Oil & Gas·Top Stories

Tinubu Announces Resolution of OPL 245 Dispute, Paves Way for Deepwater Oil Investment

March 6, 2026

by Amanze Chinonye

President Tinubu has announced the resolution of the long-running dispute over Oil Prospecting Licence (OPL) 245, clearing the path for the development of one of Nigeria’s most commercially promising deepwater oil blocks. The settlement, signed in Abuja, involves the Federal

Business

Naira vs Dollar: What To Expect This Week (24th-30th, March 2025)

Business·Top Stories

Naira Depreciates Against Dollar In Black Market, Official Window

March 5, 2026

In the black market on Thursday, March 5, the naira depreciated against the United States dollar (USD) by 0.33 percent after the foreign exchange

The equity market closed in positive territory for the second time this week as stocks rose by 0.04%. Investors traded N15.07bn worth of shares.

Business·Top Stories

NGX Closes With N220bn Gain As Traders Exchange N29bn Shares

March 5, 2026

The Nigerian Exchange (NGX) recovered from the loss recorded on Wednesday, March 4, with a N220.74 billion gain on Thursday, March 5, as the

Rising Cost Of Drugs Takes Toll On Nigerian Patients As FX Scarcity Hits Hard

Business·Top Stories

Mecure, Fidson… Five Largest Pharmaceutical Companies In Nigeria

March 5, 2026

The market valuation of the six pharmaceutical companies listed on the Nigerian Exchange (NGX), also known as the stock market, increased by N548.35 billion

Business·Markets·News·Nigeria·Oil & Gas·Top Stories

Nigeria Cooking Gas Price Jumps 40% Amid Us, Iran Crisis

March 5, 2026

Cooking gas prices in Nigeria have jumped about 40 percent amid the ongoing fighting involving the United States, Israel and Iran. Liquefied Petroleum Gas

Business·Top Stories

Dollar Rate Crosses N1,400/$ In Black Market, Rises To N1,387/$ In Official Window

March 4, 2026

On Wednesday, March 4, the foreign exchange (FX) rate for the United States dollar (USD) increased by N21.65 kobo to N1,409.42 kobo per $1.

Politics

FEATURES·Nigeria·Politics·Top Stories

10 Key Changes INEC Is Making Ahead of Nigeria’s 2027 General Elections

March 6, 2026

Nigeria’s electoral umpire, the Independent National Electoral Commission (INEC), has begun implementing a series of reforms aimed at improving transparency, reducing litigation, and strengthening public confidence ahead of the 2027 general elections. The reforms follow the enactment of the Electoral Act 2026, signed into law on February 18, 2026, which repealed the earlier 2022 electoral legislation. They also stem from

News·Nigeria·Politics·Top Stories

Tinubu Approves New Gratuity Scheme for Retiring Civil Servants

March 5, 2026

President Bola Ahmed Tinubu has approved a new exit benefit scheme granting

UNGA79: Nigeria Calls For Eradication Of ‘Safe Havens’ Aiding Illicit Financial Flow From Developing Countries

News·Nigeria·Politics

Shettima Says ADC Membership Portal Flooded With Fake Names

March 5, 2026

Nigeria’s Vice President Kashim Shettima has alleged that the opposition African Democratic

News·Politics·Top Stories

Kano Assembly Begins Impeachment Process Against Deputy Governor Gwarzo

March 5, 2026

The Kano State House of Assembly has commenced impeachment proceedings against the

News·Politics·Top Stories

Aba Lawmaker Hon. Alex Mascot Joins Labour Party, Signals Political Shake-Up in Abia

March 4, 2026

In a significant political move, Hon. Alex Mascot Ikwechegh, the Member representing

Entertainment

Emmys 2025: ‘Adolescence’ Win Big, Full Winners List

September 15, 2025

The 2025 Emmy Awards were handed out Sunday, with Adolescence, The Studio, The Pitt, and The

Entertainment

How To Vote For AFRIMA 2025

September 9, 2025

The countdown to AFRIMA 2025 has officially begun as the All Africa Music Awards announced that

Entertainment

Full AFRIMA 2025 Nominations List: Davido, Burna Boy Lead List

September 5, 2025

The wait is over! The African Music Awards (AFRIMA) 2025 nominees list has been officially released,

Entertainment

AFRIMA 2025 Nominees List Unveiled: Voting Details, Top Contenders

September 5, 2025

The African Music Awards (AFRIMA) 2025 nominees list is finally here, music fans across the continent

Entertainment

Court Orders Mohbad’s Wife To Run DNA On Their Son

September 4, 2025

A Lagos State Magistrate Court sitting in Ikorodu, on Tuesday, September 2, 2025, ordered a DNA

Technology

Nigerian Govt Launches 'Build-A-Thon Program', Seeks Visionary Educators To Foster Tech Innovation In Schools

News·Technology

FEC Approves GIS-Enabled Alphanumeric Digital Postcode System for Nigeria

March 5, 2026

The Federal Executive Council (FEC) has approved the implementation of a Geographic Information System (GIS)-enabled alphanumeric digital postcode system aimed at modernising Nigeria’s national

Business·Finance & Economy·Labour·News·Nigeria·Technology·Top Stories

Tinubu Envisages Lebara to Transform Nigeria’s Digital Space, Create Jobs

February 28, 2026

President Bola Ahmed Tinubu has welcomed the launch of Lebara Nigeria, describing it as a signal of investor confidence in the country’s digital economy,

Africa·News·Technology

Dozens of Ghanaians Killed Fighting in Ukraine War

February 28, 2026

Dozens of Ghanaians have been killed while fighting in the war in Ukraine, with two others currently held as prisoners of war, Foreign Affairs

News·Technology·Top Stories·World News

US Denies Selling AI Chips to China Amid Security Concerns

February 25, 2026

A high-end Nvidia chip that can train and run artificial intelligence systems has not yet been sold to Chinese firms, a US Commerce Department

News·Nigeria·Technology·Top Stories

EU Funding Boosts Nigeria’s Internet Expansion Plans

February 19, 2026

Faster and more reliable internet could soon reach millions of Nigerians after the European Union pledged €22m to support the country’s fibre-optic expansion. The

Sport

Sports·Top Stories·World News

Iran Women’s Team Stands Silent During Anthem at Asian Cup Opener

March 3, 2026

The Iran women’s national football team made a striking statement on Monday night at the 2026 AFC Women’s Asian Cup, standing in silence as their national anthem played ahead of their opening match. The incident occurred at CBus Super Stadium on the Gold Coast, where Iran faced the South Korea women’s national football team in their Group A opener. Lined

Business·News·Sports

Stripe Explores Possible Deal for PayPal as Takeover Speculation Lifts Shares

February 24, 2026

Financial technology company Stripe is exploring a potential acquisition of PayPal or

FEATURES·Sports

Brain Drain in Nigerian Sports: Governance, Trust and the Ofili Question

February 21, 2026

When Favour Ofili confirmed her decision to switch allegiance to Turkey, the

News·Sports·Top Stories

18 Senegalese Fans Jailed After AFCON Final Disturbances in Morocco

February 19, 2026

A Moroccan court has sentenced 18 Senegalese football fans to prison terms

Diaspora·News·Sports

UK-Based Nigerian Footballer Dies After Suffering Severe Brain Injury

February 8, 2026

A Nigerian non-league footballer, Saburi Olayinka Adeniji, has died in the United

Markets

Business·Markets·News·Nigeria·Top Stories

Dangote Cement Records 20% Increase in 2025 Revenue

March 1, 2026

Dangote Cement Plc reported a 20.3 percent rise in revenue to 4.31 trillion naira ($2.7 billion) for the year ending Dec. 31, 2025, driven

Business·Markets·News·World News

Aston Martin to Cut 20% of Workforce Over Rising Losses

February 25, 2026

British luxury carmaker Aston Martin has announced plans to reduce its workforce by up to 20 percent, following widening annual losses linked to US

Currency·Finance & Economy·Markets·News·Nigeria·Top Stories

CPPE Warns Nigeria’s $6bn Capital Inflow Surge May Be Fragile Despite Rebound

February 24, 2026

Nigeria recorded a sharp increase in foreign capital inflows in the third quarter of 2025, but the Centre for the Promotion of Private Enterprise

Dangote Sugar, Jaiz Bank Shares Decline, Drag NGX Down By N101bn

Business·Markets·News

Ellah Lakes’ N235 Billion Public Offer Falls Flat: Investors to Receive Refunds

February 22, 2026

Ellah Lakes Plc’s ambitious N235 billion public offer has ended in disappointment, with the company announcing it will refund investors due to insufficient subscription.

Business·Markets·Top Stories

Week Ahead: Nigeria CPI Cools, US-Iran Talks & US PCE in Focus

February 19, 2026

By Lukman Otunuga In a welcome development for Nigeria’s economy, inflation unexpectedly slowed in January, with prices rising 15.1% year-on-year. This represented a slight

Latest

Business·Top Stories

Dangote Sugar Spent 85% Of Revenue On Production Costs, Recorded N72bn Loss In 2025

March 6, 2026

In 2025, Dangote Sugar Refinery Plc spent 85.21 percent of its revenue on the cost of production, compared to the 95.32 percent expended in 2024, according to Prime Business Africa’s (PBA) analysis. The impact of the cost of production on the company’s

News·Oil & Gas·Top Stories

Tinubu Announces Resolution of OPL 245 Dispute, Paves Way for Deepwater Oil Investment

March 6, 2026

President Tinubu has announced the resolution of the long-running dispute over Oil Prospecting Licence (OPL) 245, clearing the path for the development of one of Nigeria’s most commercially promising deepwater oil blocks. The settlement, signed in Abuja, involves the Federal Government of

News·Nigeria·Top Stories

Amnesty International Condemns Trial, Detention of Senator Ugwuanyi

March 6, 2026

Global rights organisation Amnesty International has strongly condemned the trial and detention of Chijinkem Ugwuanyi, describing the charges against the senator as baseless and a threat to freedom of expression, Prime Business Africa reports. Ugwuanyi was remanded in prison in Enugu on

FEATURES·Top Stories

9 Facts About U.S. Border Policy Updates — and What They Mean for Migrants

March 6, 2026

Immigration policy in the United States has taken a tougher turn in early 2026. Under the administration of Donald Trump, federal agencies have rolled out a series of changes aimed at tightening enforcement at the southern border and limiting pathways for irregular

FEATURES·Nigeria·Oil & Gas·Top Stories

10 Things to Understand About Tinubu’s Executive Order on Oil Revenue Remittance

March 6, 2026

Nigeria’s oil revenue management system is undergoing a major shift following a new directive from President Bola Tinubu. The policy, known as Executive Order 9 of 2026, took effect on February 13, 2026, and mandates the direct remittance of oil and gas

FG, States, LGAs Shares N1.411trn Revenue In October, FAAC Reveals

FEATURES·Nigeria·Top Stories

7 Ways the New Oil Revenue Policy Could Affect State Allocations

March 6, 2026

Nigeria’s revenue-sharing system may be heading for a major shift following a new policy on how oil income is handled. In February 2026, President Bola Tinubu signed Executive Order 9 of 2026, directing that all oil and gas revenues be paid directly

FEATURES·Nigeria·Politics·Top Stories

10 Key Changes INEC Is Making Ahead of Nigeria’s 2027 General Elections

March 6, 2026

Nigeria’s electoral umpire, the Independent National Electoral Commission (INEC), has begun implementing a series of reforms aimed at improving transparency, reducing litigation, and strengthening public confidence ahead of the 2027 general elections. The reforms follow the enactment of the Electoral Act 2026,

FEATURES·Nigeria·Top Stories

7 Key Requirements Political Parties Must Meet Under Nigeria’s Electoral Act 2026

March 6, 2026

Political parties in Nigeria are preparing to adjust to new legal requirements following the signing of the Electoral Act 2026 into law on February 18, 2026. The reforms are expected to shape preparations for the 2027 general elections, with the Independent National

FEATURES·Nigeria·Security·Top Stories

8 Key Things to Know About DSS Arrest Over Alleged Attack on Peter Obi

March 5, 2026

Nigeria’s Department of State Services (DSS) has arrested a man over alleged online threats against former presidential candidate Peter Obi following a violent political incident in Benin City, Edo State. The arrest has drawn national attention, with investigators examining whether the suspect

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