African Business News

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

Lagos govt paid N1381bn pensions in seven years

Lagos State Governor Introduces ‘Ounje Eko’ Food Markets with 25% Discounts

By Ifunanya / March 16, 2024

Governor Babajide Sanwo-Olu of Lagos State has introduced a groundbreaking initiative to alleviate the economic strain on residents amidst rising […]

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CBN lifts ban on cryptocurrency transactions

Nigeria BVN Registration Surges Ahead of Central Bank Deadline

By Ifunanya / March 16, 2024

As the April 2024 deadline set by the Central Bank of Nigeria approaches, the registration for Bank Verification Number (BVN) […]

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Naira free fall Finance Minister CBN governor EFCC chairman meet

Naira Appreciates Against USD, Hits N1,602.75: Positive Week for Foreign Exchange Market

By Ifunanya / March 16, 2024

The Naira, Nigeria’s currency, closed out the week on a high note as it continued to strengthen against the US […]

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inflation 1

Rivers, Kogi, Oyo, Bauchi States Worst Hit By Food Inflation In 2024 – NBS Report

By IDBM Consult / March 16, 2024

March 15, 2024 Kogi, Rivers, Oyo and Bauchi states have ranked the highest in food and all items inflation between […]

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Kerosene consumers experienced unprecedented price hike in 2023 NBS

Nigeria’s Food Inflation Soars: Kogi, Rivers, and Kwara Lead, Bauchi, Plateau, and Taraba Lag

By Ifunanya / March 15, 2024

According to the latest report from the National Bureau of Statistics (NBS), three states in Nigeria are facing the highest […]

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nbs2

Inflation hits 31.70% in February, says NBS

By IDBM Consult / March 15, 2024

March 15, 2024 The National Bureau of Statistics (NBS) on Friday, March 15, said inflation rate soared from the 29.90% […]

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Naira Depreciates Against USD After Binance Halts Naira Transactions

Naira Appreciates as US Dollar Supply Surges by 50% to $248.75 Million

By Ifunanya / March 15, 2024

The Nigerian Naira continued its upward trend against the US dollar, with a 50% surge in USD supply reaching $248.75 […]

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Food inflation rises to 3284 in Nigeria NBS

Nigeria’s Food Inflation Jumps to 37.92% in February Amid Economic Hardship

By Ifunanya / March 15, 2024

In February, Nigeria saw a significant increase in food inflation, reaching 37.92% compared to 35.41% in January 2024, reflecting the […]

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BREAKING Nigerias inflation rate hits 2990 in January amid rising

Nigeria’s Headline Inflation Hits Record High at 31.70% in February 2024

By Ifunanya / March 15, 2024

Nigeria’s headline inflation reached a record high of 31.70% in February 2024, up from 29.90% in January 2024, driven by […]

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Nigerias Q4 2023 Revenue Surges to N233 Trillion from CIT

Nigeria’s Q4 2023 Revenue Surges to N2.33 Trillion from CIT and VAT

By Ifunanya / March 15, 2024

Nigeria has seen a significant increase in revenue from Company Income Tax (CIT) and Value Added Tax (VAT) in the […]

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Nigerian Govt records N619trn from taxes in 2023s Q3

Nigeria’s Q4 2023 Company Income Tax Drops by 35.40% to N1.13 Trillion

By Ifunanya / March 15, 2024

Nigeria’s Company Income Tax (CIT) took a significant hit in the fourth quarter of 2023, dropping by 35.40% to N1.13 […]

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Abdussamad Dasuki Proposes Maritime Bank to Curb Capital Flight

Abdussamad Dasuki Proposes Maritime Bank to Curb Capital Flight

By Ifunanya / March 15, 2024

The Chairman of the House Committee on Shipping Services, Abdussamad Dasuki, has announced plans to establish a maritime bank in […]

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1 Billion Federal Investment Proposal for Modernizing Nations Ports

$1 Billion Federal Investment Proposal for Modernizing Nation’s Ports

By Ifunanya / March 14, 2024

The federal government has announced a groundbreaking proposal for a $1 billion investment in the rehabilitation of the nation’s ports, […]

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NEPC Aims to Boost Cowpeas and Sesame Seeds Value to

NEPC Aims to Boost Cowpeas and Sesame Seeds Value to $9.43 Billion by 2028

By Ifunanya / March 14, 2024

The Nigerian Export Promotion Council (NEPC) is setting its sights on a lofty goal – to elevate the value of […]

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Nigerian Government Demands Binance User Info Amid Naira Fluctuation Stand Off

Nigerian Government Faces Binance Lawsuit Over Regulatory Clash

By Ifunanya / March 14, 2024

Financial analyst Kalu Aja has weighed in on the ongoing conflict between the Nigerian government and cryptocurrency platform Binance, suggesting […]

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DisCos need N2trn capital investment to improve power supply in

President Bola Tinubu Appoints Dr Temitope Ilori as NACA’s First Female Director-General

By Ifunanya / March 14, 2024

President Bola Tinubu has made a historic decision by appointing Dr. Temitope Ilori as the new Director General of the […]

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acces boss

21 things to know about Access Holdings chairman Aig-Imoukhuede

By IDBM Consult / March 14, 2024

March 14, 2024 The board of Access Holdings Plc on Wednesday announced the appointment of Mr. Aigboje Aig-Imoukhuede as its […]

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TCN raises alarm as insecurity threatens facilities

TCN Boosts Power Capacity in Kano with New 100MVA Transformer

By Ifunanya / March 14, 2024

The Transmission Company of Nigeria, TCN, has taken a significant step towards enhancing power supply in Kano with the commissioning […]

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Intervene in Rivers crisis APC chieftain urges Tinubu

Nigeria Taps Global Banks for Eurobond Issuance to Boost Fiscal Budget

By Ifunanya / March 14, 2024

The Nigerian government is gearing up for a significant financial move by enlisting the help of top global investment banks […]

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Why theres a drop in Nigerias power supply TCN

Nigeria’s Electricity Generation Drops to 3,957.16 MW in February 2024 Amid Power Supply Challenges

By Ifunanya / March 14, 2024

In February 2024, Nigeria faced a significant challenge with its electricity supply, as the available generated electricity dropped to a […]

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