African Business News

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

Naira tumbles against US dollar at foreign exchange market

Naira Surges on Binance Amidst Nigerian Cyberspace Restriction Concerns

By Ifunanya / February 22, 2024

Nigeria’s local currency, Naira, witnessed a significant surge on the cryptocurrency platform Binance, coinciding with reports of potential access restrictions […]

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US seeks to expand bilateral trade with Nigeria

US Prioritizes Strengthening Trade Relations with Nigeria

By Ifunanya / February 22, 2024

The United States Consulate in Nigeria is committed to enhancing bilateral trade and investment for mutual prosperity between the United […]

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tincan road

Repair of Tincan road eases doing business, ends gridlock -Blue Economy Minister

By IDBM Consult / February 21, 2024

Feb 21, 2024 The Minister of Marine and Blue Economy, Adegboyega Oyetola, has said the completion of the Tincan Port […]

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Tinubu signs Electricity Act 2024

Tinubu Names Ibrahim Gaga NEXIM Bank’s New Executive Director

By Ifunanya / February 21, 2024

In a recent announcement, President Bola Tinubu has selected Ibrahim Gaga to serve as the Executive Director of Corporate Services […]

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paris show

Nigeria to attend first Paris International Agricultural Show

By IDBM Consult / February 21, 2024

Feb 21, 2024 Nigeria will be attending its first Paris International Agricultural Show, which will be held from February 24 […]

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CBN lifts ban on cryptocurrency transactions

Central Bank of Nigeria Raises Cargo Clearance Exchange Rate to N1,605 per US Dollar Amidst Foreign Exchange Crisis

By Ifunanya / February 21, 2024

The Central Bank of Nigeria (CBN) has implemented its sixth exchange rate increase of 2024, setting the new rate for […]

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Hardship Federal govt announces plan to restart direct cash transfer

Government Plans to Restart Cash Transfers to Alleviate Hardship Amid Economic Crisis

By Ifunanya / February 21, 2024

The federal government of Nigeria has announced its intention to reinstate direct cash transfers to assist the country’s poorest and […]

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CBN’s Monetary Policy Committee Nominees Address FX and Food Crisis

By Ifunanya / February 21, 2024

The Central Bank of Nigeria’s Monetary Policy Committee (MPC) nominees have pledged to resolve the country’s foreign exchange and food […]

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binance

Forex Crisis: Binance and Other Crypto Firms Face Ban in Nigeria

By IDBM Consult / February 21, 2024

Forex Crisis: Binance, other crypto firms face ban in Nigeria February 21, 2024 The special adviser to the president on […]

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electricity bill 1

Senate Urges Government to Halt Removal of Electricity Subsidy

By IDBM Consult / February 21, 2024

February 21, 2024 – By Reporter The Senate on Wednesday, February 21, resolved to call on the federal government not […]

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JUST IN FG raises exchange rate for cargo clearance to

Government Raises Cargo Clearance Exchange Rate to N1,605/$

By Ifunanya / February 21, 2024

Image of cargo ship for illustrative purposes The Central Bank of Nigeria has once again adjusted the exchange rate for […]

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Customs pledges to accelerate war against smuggling of Nigerias grains

Nigeria Customs Service Vows to Combat Illegal Grain Smuggling

By Ifunanya / February 21, 2024

The Nigeria Customs Service (NCS) has reaffirmed its commitment to ramping up efforts to combat the illicit smuggling of Nigeria’s […]

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Developers reject N8000 cement price

Outcry as Cement Price Reduction Fails to Satisfy Builders

By Ifunanya / February 21, 2024

Developers within the construction industry have expressed dissatisfaction with the recent agreement between the Federal Government and cement manufacturers regarding […]

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US Dollar supply surges by 7662 in forex market as

US Dollar Supply Jumps 76.62% in Forex Market as Naira Sees Slight Gain

By Ifunanya / February 21, 2024

The US Dollar supply in the official foreign exchange market surged by 76.61% to $117.32 million, leading to a marginal […]

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Nigeria’s Diesel Price Stays at N1,400 per Litre, NARTO Demands Freight Rate Increase

By Ifunanya / February 21, 2024

The price of Automotive Gas Oil (diesel) in Nigeria remains at N1,400 per litre, doubling from its rate of N700 […]

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Naira gains at official market weakens to N1500 parallel market

Nigeria Seeks $10 Billion to Stabilize Exchange Rate Amid Naira Decline

By Ifunanya / February 21, 2024

The Nigerian Federal Government is taking steps to raise $10 billion to enhance foreign exchange liquidity and stabilize the naira, […]

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Nigerian govt hands over Zungeru hydroelectric power plant to concessionaire

Nigeria Transfers Zungeru Hydroelectric Power Plant to Private Operator

By Ifunanya / February 21, 2024

The Nigerian government has officially handed over the operations of the Zungeru Hydroelectric Power Plant to Penstock Limited. The transfer […]

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naccima

The Challenge of Naira Depreciation and Inflation: NACCIMA’s Strategies for Nigeria’s Economic Sustainability

By IDBM Consult / February 20, 2024

February 20, 2024 The National President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dele […]

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Naira tumbles against US dollar at foreign exchange market

Nigerian Naira Sees Slight Gain Against US Dollar Amidst Market Volatility

By Ifunanya / February 20, 2024

In a shift from recent trends, the Nigerian naira experienced a marginal increase in value against the US dollar in […]

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Nigerian Cinemas Achieve N1.2 Billion Revenue in January 2024 Amid Economic Hardship

By Ifunanya / February 20, 2024

In a recent interview with the National President of the Cinema Exhibitors Association of Nigeria (CEAN), Opeyemi Ajayi, it was […]

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