African Business News

Stay updated with the latest African business news, including market trends, economic updates, and insights into industries across the continent.

Lagos State Aims to Generate N5 Trillion IGR from Digital Ecosystem and Remote Workers

By Ifunanya / July 31, 2024

Lagos State Aims to Boost Revenue with Digital Ecosystem In a bold move to increase its internal revenue, the Lagos […]

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Federal Government Spends ₦633.30bn on Electricity Subsidy in Q1 2024

Federal Government Spends N633.30bn on Electricity Subsidy in Q1 2024 as DisCos Struggle With Revenue Collection

By Ifunanya / July 31, 2024

New figures reveal that the Nigerian federal government paid out a staggering sum of ₦633.30bn in electricity subsidies during the […]

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NNPC Targets 2 Million Barrels Per Day Production by Year End

NNPC Targets 2 Million Barrels Per Day Production by Year-End

By Ifunanya / July 31, 2024

NNPC Targets Two Million Barrels of Crude Oil Production by End of Year The Nigerian National Petroleum Company Limited (NNPC) […]

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Senate Probes N4.2 Billion Allocation to Ajaokuta Steel Company Despite

Senate Probes N4.2 Billion Allocation to Ajaokuta Steel Company Despite Lack of Verifiable Workers

By Ifunanya / July 30, 2024

Senate Probes Alleged Corruption at Ajaokuta Steel Company The Nigerian Senate has raised concerns over the unverifiable number of workers […]

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Nigerian Aviation Authorities Ground Arik Airplanes Over $2.5M Debt

Nigerian Aviation Authorities Ground Arik Airplanes Over $2.5M Debt

By Ifunanya / July 30, 2024

Nigerian Aviation Authorities Ground Arik Air Aircraft Over $2.5 Million Debt In a move to enforce a court order, the […]

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Dangote Refinery to Benefit from Crude Oil Sales in Naira,

Dangote Refinery to Benefit from Crude Oil Sales in Naira, Prices to Crash

By Ifunanya / July 30, 2024

Breaking News: President Tinubu’s Approval to Sell Crude in Naira to Boost Local Industries In a landmark announcement, President Bola […]

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Nigeria Customs Suspends Import Duties on Essential Food Items to

Nigeria Customs Suspends Import Duties on Essential Food Items to Combat Inflation

By Ifunanya / July 30, 2024

Nigeria Introduces Relief Measures to Combat Rising Food Costs In a bid to reduce food prices and combat the impact […]

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NAMA Suspends Planned 800% Increase in Navigational Charges Amid Economic

NAMA Suspends Planned 800% Increase in Navigational Charges Amid Economic Challenges

By Ifunanya / July 30, 2024

Nigeria Suspends 800% Increase in Airspace Charges Amid Economic Concerns The Nigerian Airspace Management Agency (NAMA) has put the brakes […]

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World Bank Approves $500m Loan for Nigeria's Dam Safety and

World Bank Approves $500m Loan for Nigeria’s Dam Safety and Water Management Improvement

By Ifunanya / July 30, 2024

World Bank Approves $500m Loan to Improve Dam Safety and Water Resource Management in Nigeria The Federal Government of Nigeria […]

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Nigeria Reduces Rice Prices, 50kg Bag Now N40,000 With 20

Nigeria Reduces Rice Prices, 50kg Bag Now N40,000 With 20 Trucks Released

By Ifunanya / July 29, 2024

Nigeria’s Rice Price Slashed by 50% Amid Food Inflation Rise In a bid to ease the rising cost of living […]

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Nigeria’s CBN Clarifies Dormant Account Rules: Inactive Accounts Over 10 Years Designated

By Ifunanya / July 29, 2024

Central Bank of Nigeria Clarifies Dormant Account Policy The Central Bank of Nigeria has provided clarification on its recently released […]

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Ethiopia Floats Birr Currency, Seeks IMF Support Amid Inflation Crisis

Ethiopia Floats Birr Currency, Seeks IMF Support Amid Inflation Crisis

By Ifunanya / July 29, 2024

Ethiopia’s Currency Dropped by 30% Amid IMF-Efforts to Address Deepening Economic Crisis In a latest move to address its economic […]

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Central Bank of Nigeria Clarifies Dormant Account Criteria for Investment

Central Bank of Nigeria Clarifies Dormant Account Criteria for Investment Purposes

By Ifunanya / July 29, 2024

Central Bank of Nigeria Unveils New Guidelines for Dormant Accounts and Unclaimed Balances In a recent move aimed at protecting […]

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Kerosene consumers experienced unprecedented price hike in 2023 NBS

Nigeria’s Oil and Gas Sector Sees Zero Foreign Capital Investment Amid Crisis

By Ifunanya / July 29, 2024

Nigeria’s Oil and Gas Sector Sees Zero Foreign Capital Investments in Q1 2024 Amid Crisis The Nigeria’s oil and gas […]

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Nigeria Risks N400 Billion Loss, Economic Collapse Over Hardship Protest

Nigeria Risks N400 Billion Loss, Economic Collapse Over Hardship Protest

By Ifunanya / July 28, 2024

Nigeria’s Fragile Economy Faces Estimated Daily Loss of N400,000 Due to Planned Hardship Protest A planned nationwide protest in Nigeria, […]

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Nigeria: SERAP Sues CBN Over Missing ₦100 Billion Dirty Cash

Nigeria: SERAP Sues CBN Over Missing ₦100 Billion Dirty Cash

By Ifunanya / July 28, 2024

Nigeria’s Central Bank Hit with Lawsuit over Allegedly Missing N100 Billion in Dirty Notes The Socio-Economic Rights and Accountability Project […]

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Nigeria's NGX Receives SEC Approval for Impact Board to Boost

Nigeria’s NGX Receives SEC Approval for Impact Board to Boost Sustainable Investments

By Ifunanya / July 28, 2024

Nigeria’s NGX Impact Board Earns SEC Approval to Boost Sustainability-Driven Investments The Nigerian Stock Exchange (NGX) has made a significant […]

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SEC Approves Nigeria's First Impact Board for Sustainable Finances

SEC Approves Nigeria’s First Impact Board for Sustainable Finances

By Ifunanya / July 28, 2024

Nigerian Securities Exchange Launches Impact Board to Foster Sustainability-Focused Instruments Lagos, Nigeria – The Securities and Exchange Commission (SEC) has […]

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NNPC Addresses Fuel Shortages in Lagos and FCT amid Rising

NNPC Addresses Fuel Shortages in Lagos and FCT amid Rising Prices

By Ifunanya / July 27, 2024

Fuel Shortages Hit Nigeria: NNPC Confirms Supply Challenges in Lagos and Abuja The Nigerian National Petroleum Company Limited (NNPCL) has […]

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TikTok's Fate: US Justice Department Seeks Ban Over National Security

TikTok’s Fate: US Justice Department Seeks Ban Over National Security Concerns

By Ifunanya / July 27, 2024

TikTok Lockdown Looms: Justice Department Seeks to End App’s American Presence TikTok is facing a critical crisis as the Justice […]

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