African Business News

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

CBN reviews timeline for issuance of credit letters amid forex

CBN Sells N1.053 Trillion in Government Securities, Gains Investor Confidence

By Ifunanya / March 4, 2024

The Central Bank of Nigeria (CBN) has successfully completed the sale of government securities, issuing a whopping N1.053 Trillion ($680 […]

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NCC Deadline 40 Million Telephone Lines Deactivated More Disconnections Loom

NCC Deadline: 40 Million Telephone Lines Deactivated, More Disconnections Loom

By Ifunanya / March 4, 2024

Over the weekend, telecommunication operators in Nigeria took action, barring a staggering 40 million telephone lines. This move came after […]

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vehicle import

Vehicle import duty regularisation: Customs opens 90-day window for specific categories

By IDBM Consult / March 3, 2024

March 3, 2024  The Nigeria Customs Service (NCS) has announced the introduction of a 90-day window to facilitate the regularisation […]

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navy dockyard

Naval Dockyard to refurbish six Benin Republic Navy warships

By IDBM Consult / March 3, 2024

March 3, 2024 Plans have been concluded for the Nigerian Navy (NN) to refurbish six warships belonging to the Benin Republic […]

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fct expo

Wike approves Abuja’s maiden Infrastructure Investment Expo

By IDBM Consult / March 3, 2024

March 3, 2024 Minister of the Federal Capital Territory (FCT), Nyesom Wike, has approved Abuja maiden infrastructure investment expo initiative […]

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dangote

Dangote Sugar Plc ends Year 2023 with a record N108.9bn loss 

By IDBM Consult / March 3, 2024

Dangote Sugar Refinery Plc (Dangote Sugar or DSR) is a household name in the sugar refining sector of the Nigerian […]

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Zamfara govt earmarks N72bn to complete Gusau investment house

Zamfara State Government Settles N2.3 Billion in Backlog of Retirees’ Gratuities

By Ifunanya / March 3, 2024

The Zamfara State Government has made significant strides in addressing the long-standing issue of unpaid gratuities for retired state and […]

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Nigeria vs South Africa Shettima departs for Cote dIvoire to

Vice President Kashim Shettima to Open National MSMEs Business Clinics in Abeokuta

By Ifunanya / March 3, 2024

The Vice President, Kashim Shettima, is set to kick off the Expanded National Micro, Small, and Medium Enterprises (MSMEs) Business […]

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Bukar Ibrahim Yobe Govt declares public holiday in honor of

Yobe State Crackdown on Grain Hoarding to Curb Artificial Scarcity

By Ifunanya / March 3, 2024

Farmers and grain traders in Yobe State are on edge as the state government cracks down on hoarding of essential […]

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Nigeria Aims for 25M BPD Production Target as Brent Crude

Nigeria Aims for 2.5M BPD Production Target as Brent Crude Surges

By Ifunanya / March 3, 2024

The global benchmark for crude oil, Brent, has seen a significant increase in price over the past three days, reaching […]

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CBN Revokes 4173 BDC Licenses CPPE Supports Move for Naira

CBN Revokes 4,173 BDC Licenses: CPPE Supports Move for Naira Stability

By Ifunanya / March 2, 2024

The recent decision by the Central Bank of Nigeria to revoke the licenses of 4,173 Bureau De Change operators has […]

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Leveraging Social Media for Small Business Growth in Nigeria Insights

Leveraging Social Media for Small Business Growth in Nigeria: Insights from SMEDAN Director General

By Ifunanya / March 2, 2024

The Director General of the Small Medium Enterprises Agency of Nigeria, SMEDAN, Charles Odii, is urging small businesses to tap […]

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Prioritizing SMEs for Prosperity NITDA Director General Emphasizes Importance of

Prioritizing SMEs for Prosperity: NITDA Director General Emphasizes Importance of Small and Medium Enterprises in Nigeria

By Ifunanya / March 2, 2024

The Director General of the National Information Technology Development Agency, NITDA, Kashifu Inuwa Abdullahi, emphasized the importance of prioritizing Small […]

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abia power

Aba Geometric Power: ‘You lied’- Ex-Commissioner tackles Otti over $3.56m stake by Ikpeazu’s govt

By IDBM Consult / March 2, 2024

March 2, 2024 John Kalu, former Commissioner for Information, Trade and Investment under ex-Abia State governor, Okezie Ikpeazu’s government, has […]

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lagos rail

Lagos rail network to grow with addition of Green and Purple Lines 

By IDBM Consult / March 2, 2024

March 2, 2024 The Governor of Lagos State, Babajide Sanwo-Olu, has announced the commencement of preliminary efforts for the addition […]

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Nigeria Still Pays 1 Trillion Naira Monthly for Petrol Subsidy

Nigeria Still Pays 1 Trillion Naira Monthly for Petrol Subsidy: Pinnacle Oil CEO

By Ifunanya / March 2, 2024

Robert Dickerman, the CEO and Managing Director of Pinnacle Oil and Gas Limited, has made a startling revelation about the […]

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Forex inflow hits 11bn in two months – CBN

CBN to Sell N1.64trn Treasury Bills in Q2 2024 to Control Money Supply

By Ifunanya / March 2, 2024

The Central Bank of Nigeria has announced its plan to sell N1.64 trillion worth of treasury bills in the second […]

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Naira records first gain in 2024 against US dollar at

USD Supply Turnover Surges to $296M, Naira Appreciates to N1,548.25 – CBN Revokes BDC Licenses

By Ifunanya / March 2, 2024

The US Dollar supply turnover at the official foreign exchange market saw a significant increase, reaching $296.00 million on Friday, […]

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Shell supplies 475000 barrels of crude oil to PHarcourt refinery

Shell Nigeria Plc to Drive Energy Transition with Renewables for Millions

By Ifunanya / March 2, 2024

Shell Nigeria Plc has announced its commitment to assisting the Nigerian government in providing electricity to millions of people through […]

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illegal mining

Minister Inaugurates Mining Marshals to police 1,175 illegal mining sites

By IDBM Consult / March 1, 2024

March 1, 2024 Minister of Interior, Olubunmi Tunji-Ojo The Minister of Interior, Olubunmi Tunji-Ojo has inaugurated Mining Marshals for the Nigeria Security and Civil […]

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