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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UBA well capitalised with over N2tr shareholders’ fund – GMD

By IDBM Consult / April 14, 2024

April 14, 2024 United Bank for Africa (UBA) Plc is very well capitalized with shareholders’ fund in excess of N2 […]

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FCCPC backs NERCs N105bn fine on 11 DisCos over arbitrary

FCCPC Urges Nigerians to Report Arbitrary Price Hikes for Action

By Ifunanya / April 14, 2024

The Federal Competition and Consumer Protection Commission (FCCPC) is cracking down on businesses engaging in price fixing and arbitrary price […]

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President Bola Tinubu Reappoints Vincent Isegbe as NAQS Director General for

APC Chieftain Urges Tinubu to Intervene in Dangote Refinery Diesel Price

By Ifunanya / April 14, 2024

A prominent member of the All Progressives Congress (APC) in Osun State, Olatunbosun Oyintiloye, has urged former Lagos State Governor […]

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No directive to hike electricity tariff January 1 – Discos

Electricity Distribution Companies Struggle to Provide 20-Hour Supply to Band A Customers amid Gas Shortage

By Ifunanya / April 14, 2024

Electricity distribution companies in Nigeria are facing challenges in providing consistent power supply to customers due to a gas shortage […]

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Naira Free Fall Nigerias crude oil sales should be in

Nigerian Crude Oil Production Drops Due to Trans Niger Pipeline Issues

By Ifunanya / April 13, 2024

The Nigerian government has attributed the recent drop in crude oil production to maintenance activities and issues on the Trans […]

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Brotherhood of the Cross commences 23rd coronation anniversary celebration

By IDBM Consult / April 13, 2024

April 12, 2024 This is as Olumba Obu, who is also the Supreme Leader of BCS, has called on Nigerian […]

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FG unveils plans to reduce hardship improve living standards

Government Revenue Surges to N835.70 Billion in February: Minister Edun’s Announcement

By Ifunanya / April 13, 2024

The Minister of Finance and Coordinating Minister of Economy, Wale Edun, recently revealed the impressive earnings of government-owned entities, ministries, […]

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Nigerian Government Pursues Extradition of Binance Executive Nadeem Anjarwalla from

Nigerian Government Pursues Extradition of Binance Executive Nadeem Anjarwalla from Kenya

By Ifunanya / April 13, 2024

The Nigerian government has announced a major breakthrough in the case of Nadeem Anjarwalla, a top executive at Binance who […]

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Nigerian Troops Recover N637 Million in Stolen Crude Oil, Arrest 36 Suspects in South-South Operations

By Ifunanya / April 13, 2024

Nigerian troops have made significant strides in their fight against oil theft in the South-South region, with the recovery of […]

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Wale Edun Government Revenue Soars to N83570bn in February

Wale Edun: Government Revenue Soars to N835.70bn in February

By Ifunanya / April 13, 2024

The Minister of Finance and Coordinating Minister of Economy, Wale Edun, recently announced a significant increase in government revenues from […]

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FIRS Achieves Record Revenue Collection of N123 Trillion in 2023

FIRS Achieves Record Revenue Collection of N12.3 Trillion in 2023

By Ifunanya / April 12, 2024

The Federal Inland Revenue Service (FIRS) has announced a groundbreaking achievement in revenue collection, reaching an impressive milestone of N12.3 […]

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Naira depreciation continues amid EFCC raid on BDCs

Naira Surges Against Dollar: Goldman Sachs Predicts Exchange Below N1,000

By Ifunanya / April 12, 2024

Goldman Sachs has declared the Naira as the best-performing currency this month, with a remarkable surge against the Dollar. According […]

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Naira Gains Ground Against Dollar as CBN Boosts Currency Defense

Naira Appreciates by N60 Against US Dollar Post-Eid, Concerns Rise Over Food Prices

By Ifunanya / April 12, 2024

The Nigerian Naira has seen a significant boost in value against the US dollar following the recent Eid-el-Fitr holidays. According […]

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Nigerias Crude Oil Production Drops to 132mbpd in February 2024

Libya Overtakes Nigeria as Top African Oil Producer in March OPEC Report

By Ifunanya / April 12, 2024

In a surprising turn of events, Libya has overtaken Nigeria as the largest producer of crude oil in Africa, as […]

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Africas Economic Growth Projections World Bank Forecasts 34 Growth in

World Bank Urges Stable Macroeconomic Environment for Economic Growth in West Africa

By Ifunanya / April 12, 2024

The World Bank has issued a call to action for Nigeria and other West African nations, urging them to create […]

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Global Financial Stability Report IMF Warns of 12 Billion Cyberattack

IMF Report: Industrial Policy Pitfalls and the Impact of Subsidies

By Ifunanya / April 12, 2024

The International Monetary Fund (IMF) has issued a warning against the detrimental effects of poorly implemented electricity subsidies, tax breaks, […]

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Air Peace Faces Tough Competition on London Route Amid Currency

Air Peace Faces Tough Competition on London Route Amid Currency Recovery

By Ifunanya / April 12, 2024

Air Peace’s entry into the Nigeria-London route has sparked intense competition with foreign airlines, leading to a price war that […]

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Air Peace Strategy Financial Analyst Recommends Loyalty Program to Beat

Air Peace Strategy: Financial Analyst Recommends Loyalty Program to Beat Foreign Airlines in Lagos-London Fare Route

By Ifunanya / April 11, 2024

Financial analyst Kalu Aja has proposed a strategic solution for Allen Onyema’s Air Peace to outmaneuver foreign airlines in the […]

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Nigerias Crude Oil Production Drops to 132mbpd in February 2024

Nigeria’s Bonny Light Crude Oil Surges to $87.86 Amid Middle East Tensions

By Ifunanya / April 11, 2024

Nigeria’s Bonny Light crude oil prices have seen a significant increase, reaching $87.86 per barrel in March 2024, up from […]

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ABCON Urges CBN to Ban Non Oil Exporters from Official FX

ABCON Urges CBN to Ban Non-Oil Exporters from Official FX Market

By Ifunanya / April 11, 2024

The Association of Bureau De Change Operators of Nigeria, ABCON, has called on the Central Bank of Nigeria, CBN, to […]

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