African Business News

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

cement bua

How we reduced cement prices, by BUA Group

By IDBM Consult / February 28, 2024

February 28, 2024 Kabiru Rabiu The Group Executive Director of BUA Group, Alhaji Kabiru Rabiu, has shed light on how the […]

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CBN resumes sale of dollars to BDCs at N1,301/$

By IDBM Consult / February 28, 2024

Feb 28, 2024 The Central Bank of Nigeria (CBN) yesterday announced a series of interventions in the economy, including the […]

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NNPCL plans to end fuel shortage in 10 years

NNPCL plans to end fuel shortage in 10 years

By Ifunanya / February 28, 2024

The Nigerian National Petroleum Company Limited has assured Nigerians that the country’s energy scarcity will be over in the next […]

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Kerosene consumers experienced unprecedented price hike in 2023 NBS

Hardship: 1kg of rice surged by 98.47% in January – NBS

By Ifunanya / February 28, 2024

One kilogram of local rice surged by 98.47 per cent in January 2024 to N1,021.91 from N514.83 recorded in January […]

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Naira vs USD: CBN resumes sales of forex to BDCs

By Ifunanya / February 28, 2024

The Central Bank of Nigeria has resumed the sale of foreign currencies directly to eligible Bureau De Change Operators. CBN […]

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CBN reviews timeline for issuance of credit letters amid forex

BREAKING: CBN raises interest rate to 22.75% to tackle rising inflation

By Ifunanya / February 28, 2024

The Central Bank of Nigeria has raised the monetary policy rate, known as the interest rate, by 400 basis points […]

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Supply shocks hyper inflation cause of hunger hardship – CBN Gov

Forex crisis: Over $26bn funnelled through Binance without trace in 4 years – CBN Gov

By Ifunanya / February 28, 2024

Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso, says more than $26 billion was funnelled through the cryptocurrency […]

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Senate probes Ajaokuta Steel Company, NIOMCO over alleged unlawful $496m payment

By Ifunanya / February 28, 2024

Worried by the alleged incidences of corruption and inefficiency at the Ajaokuta Steel Company Limited and the National Iron Ore […]

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Cement Price hike Nigerian Senate mulls probe

Senate plans six-year tenure for CBN Gov, N1trn recapitalization for banks

By Ifunanya / February 28, 2024

The Senate has set machinery in motion for amendment of the Central Bank of Nigeria, (CBN) Act, 2007, which will […]

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Equity market cap nears N60tn

Equity market sustains loss, sheds N773bn

By Ifunanya / February 28, 2024

The bears maintained their grip on the Nigerian Exchange on Tuesday, as the All-Share Index dipped 1.39  per cent . Investors lost N773bn underpinned on […]

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Naira fall 425 import duty hike will impoverish more Nigerians

CBN interest rate hike won’t tame price increase in Nigeria – CPPE

By Ifunanya / February 28, 2024

The Centre for the Promotion of Private Enterprise says an interest rate hike by the Central Bank of Nigeria will […]

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Hardship Naira may exchange for N4000 against US dollar

Hardship: Naira may exchange for N4000 against US dollar – Ozekhome

By Ifunanya / February 28, 2024

Amid the current economic hardship, a Senior Advocate of Nigeria, SAN, Mike Ozekhome, has warned that the naira may exchange […]

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Gas station shortage slows CNG adoption

Challenges in CNG Adoption Due to Gas Station Shortage

By Ifunanya / February 27, 2024

The insufficient number of Compressed Natural Gas (CNG) filling stations poses a significant challenge to the adoption of CNG-powered vehicles. […]

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Naira depreciation continues amid EFCC raid on BDCs

Nigerian Naira Strengthens Against US Dollar Amid Central Bank Meeting

By Ifunanya / February 27, 2024

In a positive turn of events, the Nigerian Naira continued its upward trajectory against the US Dollar in the foreign […]

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FCCPC backs NERCs N105bn fine on 11 DisCos over arbitrary

Federal Commission Acts Against Overbilling by Jos Electricity Distribution Company

By Ifunanya / February 27, 2024

In a significant move, the Federal Competition and Consumer Protection Commission (FCCPC) has issued a directive to the Jos Electricity […]

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Fake news sites surge to 713 in February Report

Rise of Fake AI News Sites Highlights Global Misinformation Threat

By Ifunanya / February 26, 2024

A recent report revealed a concerning surge in the number of fake artificial intelligence (AI) news platforms, reaching a staggering […]

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Group demands review of Sugar Sweetened Beverages Tax from N10 to

Advocacy Group Urges Increase in Sugar-Sweetened Beverages Tax for Public Health

By Ifunanya / February 26, 2024

The Corporate Accountability and Public Participation Africa (CAPPA) is calling for a significant rise in the tax on Sugar-Sweetened Beverages […]

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Manufacturing sector contribution to Nigerias GDP drops to 823 per

Nigeria’s Manufacturing Sector Sees Decline in GDP Contribution to 8.23% in Q4

By Ifunanya / February 26, 2024

Nigeria’s manufacturing sector witnessed a decrease in its contribution to the Gross Domestic Product (GDP) to 8.23% in the fourth […]

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s korea

South Korean companies are offering workers $75,000 to have babies amid the country’s desperate bid for more children

By IDBM Consult / February 26, 2024

February 26, 2024 A South Korean firm is offering employees up to $75,000 to have children and help lift the […]

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Faction opts out as bakers begin strike Tuesday

Bakers’ Disagreement Leads to Mixed Signals Amid Looming Strike

By Ifunanya / February 26, 2024

A split emerges in the baking industry as a faction within the community refuses to partake in a nationwide strike […]

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