African Business News

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

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Without a tariff increase, Nigeria will need N3.2 trillion to subsidise electricity in 2024, says NERC

By IDBM Consult / April 18, 2024

April 18, 2024 The chairman of the Nigeria Electricity Regulatory Commission (NERC), Sanusi Garba, said on Thursday, April 18, that the Nigerian […]

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Naira Gains Ground Against Dollar as CBN Boosts Currency Defense

Naira Plummets 7.04% to N1,154.08 Against Dollar in Single Day

By Ifunanya / April 18, 2024

The Nigerian currency, the naira, experienced a significant drop in value against the US dollar in just one day, according […]

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Why petrol pump price will fall in 2024 CBN

Central Bank Governor: Continued Liquidity to Sustain Naira’s Appreciation

By Ifunanya / April 18, 2024

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has expressed confidence that the naira’s appreciation will continue due […]

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FARC

N7.3trn accrued to Federation Account in H2 of 2023, says RMAFC

By IDBM Consult / April 18, 2024

April 18, 2024 The Revenue Mobilization Allocation and Fiscal Commission (RMAFC) has revealed that a total sum of N7,314,129,314,386.08 ($17.9 billion) accrued […]

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CBN Reduces Loan-to-Deposit Ratio to 50% to Boost Lending Capacity

By Ifunanya / April 18, 2024

The Central Bank of Nigeria (CBN) has recently made a significant change to boost lending capacity in the country. In […]

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Nigerias Foreign Reserves Boosted by 600 Million Naira Set to

Nigeria’s Foreign Reserves Boosted by $600 Million, Naira Set to Appreciate

By Ifunanya / April 18, 2024

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, announced a significant boost to the country’s foreign reserves, with […]

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NPA World Bank partner to revamp Nigerias decaying port infrastructure

Nigerian Ports Authority Secures $700M Loan for Apapa and Tincan Island Ports Rehabilitation

By Ifunanya / April 18, 2024

The Nigerian Ports Authority has taken a significant step towards modernizing and improving its operations by securing a massive $700 […]

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Thirty-four governors shun Enugu International Trade Fair hosted by Mbah’s administration

By IDBM Consult / April 17, 2024

APRIL 16, 2024 Thirty-four states out of 35 failed to honour invitations to attend the just-concluded 35th Enugu International Trade […]

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Naira Gains Ground Against Dollar as CBN Boosts Currency Defense

Naira Surges by N75.4 Against Dollar in Single Day, Hits N1,072.74

By Ifunanya / April 17, 2024

In a surprising turn of events, the Nigerian naira has made a remarkable comeback in the foreign exchange market, appreciating […]

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Tinubu Media Support Group Defends Electricity Subsidy Removal for Majority

Private Sector Warns of Impending Closure Due to Electricity Tariff Hike

By Ifunanya / April 17, 2024

The Organised Private Sector (OPS) has issued a dire warning that over 65 percent of private businesses in Nigeria may […]

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oil coys

Failure to honour summons: Reps committee threatens multinational oil companies

By IDBM Consult / April 17, 2024

April 17, 2024 The House of Representatives committee investigating the implementation of Corporate Social Responsibility by multinational oil companies operating […]

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President Tinubu Commends Dangote Group for Diesel Price Reduction Impact

President Tinubu Commends Dangote Group for Diesel Price Reduction, Impact on Economy

By Ifunanya / April 17, 2024

President Bola Ahmed Tinubu has praised the Dangote Group for its recent decision to slash the price of Automotive Gas […]

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Global Financial Stability Report IMF Warns of 12 Billion Cyberattack

Nigeria’s Inflation to Drop to 23% by 2025, IMF Predicts Growth

By Ifunanya / April 17, 2024

The International Monetary Fund (IMF) has projected a significant drop in Nigeria’s inflation rate, forecasting it to decrease to 23 […]

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FCCPC backs NERCs N105bn fine on 11 DisCos over arbitrary

FCCPC to Investigate Unusual Price Hikes, Protect Consumers

By Ifunanya / April 17, 2024

The Federal Competition and Consumer Protection Commission (FCCPC) has taken a stand against the unjustifiable price hikes of goods and […]

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Naira Gains Ground Against Dollar as CBN Boosts Currency Defense

Naira Depreciates Against Dollar Amid Decline in FX Reserves

By Ifunanya / April 17, 2024

The Nigerian Naira experienced a slight decline against the US Dollar in the foreign exchange market, marking the first depreciation […]

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Dangote Petroleum Refinery Slashes Diesel Price to N1000Litre Boosting Economy

Dangote Petroleum Refinery Slashes Diesel Price to N1,000/Litre, Boosting Economy

By Ifunanya / April 17, 2024

Dangote Petroleum Refinery has made a significant announcement that is set to have a positive impact on the Nigerian economy. […]

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Remi Tinubu kicks off tech training for women entrepreneurs 

By IDBM Consult / April 16, 2024

April 16, 2024 The ceremony held at the University of Lagos (UNILAG), where the First Lady said the training will […]

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dangote diesel

BREAKING: Dangote crashes diesel price to N1,000 per litre

By IDBM Consult / April 16, 2024

April 16, 2024 In an unprecedented move, Dangote Petroleum Refinery has announced a further reduction of the price of diesel […]

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Global Financial Stability Report IMF Warns of 12 Billion Cyberattack

IMF Adjusts Nigeria’s Economic Growth Forecast to 3.3% in 2024, Sub-Saharan Africa Holds at 3.8%

By Ifunanya / April 16, 2024

The International Monetary Fund (IMF) has recently made adjustments to Nigeria’s economic growth forecast, projecting a growth rate of 3.3% […]

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pipelines

Oil pipeline: Contractors doing great job to protect national assets – Forum 

By IDBM Consult / April 16, 2024

April 16, 2024 The Middle-Belt Pan Nigerian Forum has appealed to President Bola Tinubu, urging him to disregard the baseless calls […]

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