How money, ownership and influence move across Africa and its diaspora.
Nigeria’s industrial goods counters had a strong 2025 on the Nigerian Stock Exchange, with the NGX Industrial Goods Index climbing 58.91% to finish as the market’s third-best performing sector. The index moved from 3,572.2 to 5,676.5, beating the NGX All-Share Index return of 51.19%. The sector’s hottest stretch was mid-year – July rose 34.28%, Q3.
For more than a decade, Nigerian PayPal accounts could pay foreign merchants but could not receive money. A partnership with Paga has reopened the inbound side of the network. PayPal has restored inbound payments for Nigerian users through Paga, ending a restriction that kept locally registered accounts from receiving money for most of the past.
The Lagos State Internal Revenue Service (LIRS) says it will begin enforcing a legal tool that allows the agency to recover unpaid taxes from defaulting taxpayers through third parties, including banks, employers, tenants, debtors, customers, and business partners. What LIRS is relying on In a public notice, LIRS said Section 60 of the Nigeria Tax.
Shoprite Nigeria has secured a new investor backing, an injection of capital aimed at steadying the ship and repositioning the brand in a market where survival is no longer guaranteed. Retail Supermarkets Nigeria Limited (RSNL), the operator of Shoprite in Nigeria, said the investment “provides the capital base to accelerate Shoprite’s turnaround strategy and marks.
Dangote Petroleum Refinery spent an estimated ₦720 billion on 4,000 compressed natural gas trucks for a simple reason: it wanted more control over what happened to its fuel after it left the refinery. Until 2025, the company depended largely on depot owners, marketers and independent transporters to move petrol and diesel from its 650,000-barrel-a-day refinery.
When Nigerian businessman Tayo Amusan led Ketron Investment Limited’s acquisition of Shoprite Nigeria in 2021, the move was hailed as a commendable step, finally bringing Africa’s biggest supermarket chain under local control. Four years later, the promise has dimmed. Shoprite is now shutting down outlets across key cities, struggling to survive in a market it.
The same 256GB iPhone sells at very different prices across African markets. Taxes, distribution, exchange rates and local retail structures explain much of the gap. Apple sells the 256GB iPhone 17 in the United States from $799. African buyers rarely see that price. In Nigeria, iStore currently lists the 256GB model at ₦1.399 million. In.
Bolt says it has sharply reduced the number of Nigerian drivers taking passengers off its platform, but the practice has exposed a deeper dispute over who bears the cost of running a ride-hailing business. By July 2025, Bolt said offline trips in Nigeria had fallen 42% after it tightened monitoring and penalties for drivers who.
Tolaram Group has evolved from what began in the late 1970s as a modest noodle importer to owning the iconic Guinness Nigeria, spearheading the construction of the Lekki Deep Sea Port, and the Lagos Free Zone. Here’s how they did it, and what lessons Nigerian businesses can take from their playbook. Key Takeaways Tolaram is.
Okra helped establish open banking as a serious fintech category in Nigeria, raised millions from international investors and still had cash when it closed. Its decision says as much about market timing as it does about startup failure. When Nigerian fintech Okra shut down in May 2025, the obvious explanation seemed to be that another.
