Economy – Fresh African Business News

If you want a quick pulse on what’s moving money, jobs, and daily life across Africa, you’re in the right spot. This page pulls together the biggest economic stories that affect your wallet, your business, or just your curiosity about how the continent is growing.

Nigeria’s Policy Shake‑up

President Bola Tinubu just announced two bold moves: ending the long‑standing petrol subsidy and merging multiple foreign‑exchange rates into one. He called the subsidy a “noose” around Nigeria’s economy, and many analysts say ditching it could free up billions for infrastructure. At the same time, a single FX rate should make imports cheaper and reduce black‑market chaos. The changes are big, but they also bring short‑term pain – fuel prices may jump before the market stabilises.

On top of that, Tinubu is set to decide on a new minimum wage this Thursday. With inflation eating into salaries, a higher wage could lift many families out of hardship. Critics worry it might push businesses to cut jobs if costs rise too fast. The government’s recent distribution of 20 trucks of rice to each state shows they’re trying to ease food pressure while these policies roll out.

What It Means for You

So, why should you care? If you run a small shop or sell goods online, the unified exchange rate could simplify pricing and reduce losses from currency swings. Travelers may notice fuel prices shifting – plan budgets accordingly. Workers earning minimum wage can expect a possible bump, but they should also watch for any employer push‑back.

Investors get a clearer picture of Nigeria’s economic direction. The subsidy removal signals a move toward market‑based reforms, which could attract foreign investors looking for long‑term growth. Keep an eye on how quickly the new policies settle – early volatility is common, but stability often follows.

Beyond Nigeria, the page covers other African economies too. From South Africa’s mining outlook to Kenya’s tech hub expansion, we bring you short, practical updates that help you make sense of regional trends without drowning in jargon.

Bookmark this section and check back often. Economic news moves fast, and staying informed can save you money, spark new opportunities, or simply give you a better grip on what’s happening around you.