Inside Business Africa - Business News, Economic Insight, African Corporate Stories.

May152026 by info@insidebusinessafricang.comNo Comments

Africa Legacy Summit Begins Today Amid Calls For Stronger Collaboration in Hospitality Sector

Corporate Stories, Economy, Energy, Exclusive, Growth & Insight, LifeStyle, News, World

The Managing Director of Eko Hotels & Suites, Ghassan Faddoul, has called for stronger collaboration and better connectivity across Africa to unlock the continent’s hospitality and tourism potential as the Africa Legacy Summit begins today in Lagos.The two-day summit, holding on May 15 and 16, is bringing together policymakers, investors, hospitality operators, and tourism stakeholders to discuss the future of African hospitality, tourism, and economic collaboration.Speaking ahead of the summit, Faddoul said Africa possesses the culture, creativity, history, and human capital needed to become a major global hospitality and tourism destination, but stressed that collaboration among African countries and businesses remains critical.“We need to collaborate with other African countries and...

May152026 by info@insidebusinessafricang.comNo Comments

Bridging the Hardware Gap: How Maxitech Global Is Powering Nigeria’s Digital Growth

Business, Capital Market, Finance, Health, Logistics, Maritime, News, Power, Technology, Technology & Innovation, World

As Nigeria accelerates its digital transformation agenda, a quiet but consequential player has been building the hardware backbone that makes it all possible. Maxitech Global Investment Limited is turning enterprise technology access into a market reality. Every conversation about Nigeria’s digital economy eventually arrives at the same question: who is building the physical infrastructure that makes digitization possible? The software platforms, the fintech applications, the cloud-based enterprise systems that are transforming how Nigerian businesses operate, all of them depend on hardware. Devices, servers, networking equipment, and the distribution networks that get them into the hands of the organizations that need them. It is unglamorous work. It is also indispensable. Maxitech has...

May152026 by info@insidebusinessafricang.comNo Comments

Shakira, Burna Boy Unleash ‘Dai Dai’ As Official FIFA World Cup 2026 Anthem

News, Sports, World

The anticipation for the FIFA World Cup 2026™ has reached fever pitch with the release of “Dai Dai,” the official tournament song, a vibrant collaboration between global superstars Shakira and Burna Boy. Released Thursday via Sony Music Latin, the track is now available on all major streaming platforms, promising to encapsulate the energy and passion of the world’s biggest football spectacle. “Dai Dai” is more than just a song; it’s a powerful anthem in support of the FIFA Global Citizen Education Fund. This ambitious initiative aims to raise £80 million (USD 100 million) by the close of the tournament, dedicated to providing children worldwide with access to quality education and invaluable football opportunities. Shakira is a key partner in this endeavour, generously donating her r...

May152026 by info@insidebusinessafricang.comNo Comments

Indonesia Begins Crude Oil Import From Nigeria, Bypassing Hormuz

Business, Capital Market, Corporate Stories, Economy, Energy, Finance, Logistics, Maritime, News, Working Woman, World

Indonesia has started receiving crude oil shipments from Nigeria as part of efforts to diversify its import sources and reduce reliance on West Asian supplies amid growing concerns over a global supply crisis. The supply from Nigeria is already underway, and shipments are arriving, said Indonesia’s Energy and Mineral Resources Ministry Oil and Gas director general, Laode Sulaeman. According to Antara news agency on Wednesday, he said Russia, the United States and Nigeria were currently among Indonesia’s main alternative crude oil sources due to their large supply volumes. He also assured that Indonesia’s domestic energy reserves, including crude oil, fuel and liquefied petroleum gas (LPG), remained secure. Indonesia imported about 20% of its crude oil from West Asia before conf...

May152026 by info@insidebusinessafricang.comNo Comments

Global LPG Supply Shrinking Rapidly As Market Disruptions Depletes Inventories -IEA

Business, Capital Market, Economy, Energy, Finance, Growth & Insight, Industry, Logistics, Maritime, News, Power, What's Hot, World

Global Liquified Natural Gas (LPG) shortages is beckoning as disruptions in Middle Eastern LPG exports and reduced refinery runs tighten global propane and butane markets, while US LPG exports surge. Global oil demand is forecast to contract by 420,000 b/d year-over-year in 2026 to 104 million b/d, according to International Energy Agency (IEA), a downward revision of 1.3 million b/d from the agency’s pre-Iran war forecast. Mounting supply losses are rapidly depleting inventories while volatility across crude and refined product markets continues to intensify, the International Energy Agency (IEA) said in its May 2026 Oil Market Report. Global oil demand is now forecast to contract by 420,000 b/d year-over-year in 2026 to 104 million b/d, according to IEA, a downward revision of 1...

May152026 by info@insidebusinessafricang.comNo Comments

Lanre Adediwura Says He Rejected ‘Wura’ Return Over Poor Pay

Growth & Insight, News, World

Nollywood actor Lanre Adediwura has revealed that he declined the opportunity to return to the TV series ‘Wura’ because the role was no longer financially beneficial to him. Speaking in an interview with TVC Entertainment, the actor explained that although the project significantly boosted his career visibility, the remuneration was not enough to sustain him. According to him, he spent more money than he earned while working on the series and struggled financially after leaving the production. Adediwura disclosed that the show’s production restrictions prevented him from taking on other acting jobs during the 11 months he spent on ‘Wura’, a situation he said negatively affected his career growth and income opportunities. He further revealed that after exiting the series, he went w...

May152026 by info@insidebusinessafricang.comNo Comments

Cornerstone boss backs Lagos climate project

Business, Economy, Energy, Finance, Growth & Insight, Industry, Innovation, Insurance, News, What's Hot, World

The Managing Director of Cornerstone Insurance Plc, Stephen Alangbo, has thrown his weight behind the Lagos Flood Risk Transfer Scheme, an initiative set to provide a financial safety net for four million vulnerable residents in a strategic move to mitigate the devastating impact of annual flooding. The project, a collaboration between the Lagos State Government, the United Nations Development Programme, and the Insurance Development Forum, seeks to address the estimated $4bn annual economic loss caused by flooding in Nigeria’s commercial hub. Speaking on the partnership and the company’s role as a lead underwriter, Alangbo emphasised the urgency of the intervention, noting that the city’s geographical vulnerability made such a safety net a necessity. “At Cornerstone Insurance, we...

May152026 by info@insidebusinessafricang.comNo Comments

PenCom grants PFAs approval to invest in Dangote refinery

Appointments, Breaking News, Business, Capital Market, Economy, Energy, Exclusive, Finance, Growth & Insight, Industry, Innovation, Logistics, Maritime, News, Oil & Gas, Power, What's Hot, World

The National Pension Commission has granted Pension Fund Administrators special regulatory approval to invest pension assets in the planned Initial Public Offering of Dangote Petroleum Refinery & Petrochemicals FZE, waiving some of the usual investment eligibility requirements under existing pension regulations. The approval was contained in a circular published on the commission’s website on Thursday and signed by the Director of the Surveillance Department, A.M. Saleem. In the circular dated May 13, 2026, PenCom said it had “carefully evaluated the strategic investment opportunity and the economic impact” of the proposed IPO on both the pension industry and the broader economy before reaching its decision. The commission stated, “Accordingly, the Commission hereby grants a s...

May152026 by info@insidebusinessafricang.comNo Comments

2027 poll spending may trigger inflation, MPC warns

Corporate Stories, Economy, Energy, Growth & Insight, News, Politics, Power, What's Hot, World

The Governor of the Central Bank of Nigeria and Members of the Monetary Policy Committee have warned that rising political and election-related spending ahead of the 2027 general elections could undermine the country’s disinflation gains and trigger fresh inflationary pressures. The warnings were contained in the personal statements of MPC members released by the apex bank and obtained by The PUNCH on Thursday. The MPC, at its 304th meeting held on February 23 and 24, 2026, reduced the Monetary Policy Rate by 50 basis points from 27 per cent to 26.5 per cent, while retaining other key monetary parameters. CBN Governor, Olayemi Cardoso, had earlier warned in the MPC communiqué that election-related fiscal spending could threaten the inflation outlook despite the current moderation in ...

May152026 by info@insidebusinessafricang.comNo Comments

Nigeria, Germany seal €365m investment partnership

Agriculture, Appointments, Aviation, Breaking News, Business, Capital Market, Corporate Stories, Economy, Energy, Finance, Growth & Insight, Health, Industry, Innovation, Insurance, Logistics, Maritime, News, Oil & Gas, Politics, Power, Technology, Technology & Innovation, Travel, What's Hot, World

Nigeria and Germany have signed a €365m development and investment partnership agreement to support economic growth, energy expansion, agriculture, and private-sector development in Nigeria. The agreement was signed on Thursday at the German Embassy in Abuja by the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, the Minister of State for Budget and Economic Planning, Dr Doris Uzoka-Anite, and senior German government officials, according to a statement issued by the Federal Ministry of Budget and Economic Planning. Speaking during the signing ceremony, Uzoka-Anite said, “We recognise that development cooperation must increasingly catalyse investment, innovation, and sustainable financing. This partnership is therefore not merely procedural; it is a concrete affirma...