African Business News

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

world bank

World Bank: 600m Africans face blackout by 2030

By IDBM Consult / February 13, 2024

Feb 13, 2024 World Bank on glass building. Mirrored sky and city modern facade. Global capital, business, finance, economy, banking […]

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nnpc

NNPCL: no increase in petrol prices

By IDBM Consult / February 13, 2024

February 13, 2024 The Nigerian National Petroleum Company NNPC Ltd has denied any imminent hike in the pump prices of […]

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access new ceo

Bolaji Agbede replaces Wigwe as Access Holdings acting CEO

By IDBM Consult / February 13, 2024

February 13, 2024 Access Holdings Plc has announced the appointment of Ms. Bolaji Agbede as the Acting Group Chief Executive […]

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Electricity Nigeria Govt spends N3758bn on subsidies consumers pay N7828

Nigeria Pledges 50% Sanction on Electricity Firms Amid Outage Woes

By Ifunanya / February 13, 2024

The Nigerian government has committed to imposing a 50% penalty on electricity distribution companies due to persistent outages and inadequate […]

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Revenue deduction Workers threaten to shut Nigerian ports if Tinubu

Nigeria’s Growing Economic Crisis: Citizens Struggle with Soaring Cost of Living

By Ifunanya / February 13, 2024

The impact of rising living costs under the leadership of President Bola Ahmed Tinubu in Nigeria has reached a critical […]

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FCCPC tells customers to report erring DisCos

FCCPC Urges Electricity Consumers to Report Non-compliant DisCos

By Ifunanya / February 13, 2024

The Federal Competition and Consumer Protection Commission (FCCPC) is urging electricity consumers to report distribution companies (DisCos) that fail to […]

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NCAA set up committee to tackle airfares hike

NCAA Takes Action to Address Soaring Airfares

By Ifunanya / February 12, 2024

The Nigerian Civil Aviation Authority (NCAA) has announced measures to tackle the continuous surge in airfare costs. The Acting Director-General, […]

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Remove electricity subsidy IMF advises Nigerian government

IMF Urges Nigerian Government to End Electricity Subsidy

By Ifunanya / February 12, 2024

The International Monetary Fund (IMF) has advised the Federal Government of Nigeria to eliminate electricity subsidy, emphasizing the importance of […]

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Poor electricity supply hits Southeast as EEDC exonerates self

Power Crisis Grips Southeast as EEDC Denies Responsibility

By Ifunanya / February 12, 2024

Residents in parts of the southeastern region are facing severe electricity shortages, with the Enugu Electricity Distribution Company (EEDC) claiming […]

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firs

‘FIRS has no plans to tax online content creators’

By IDBM Consult / February 12, 2024

February 12, 2024 The Federal Inland Revenue Service (FIRS), says it has no plans to tax online content creators. According to a […]

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FIRS clarifies stand on taxing content creators

Federal Revenue Service: No Plans to Tax Online Content Creators

By Ifunanya / February 12, 2024

The Federal Inland Revenue Service (FIRS) has clarified that it has no intention of imposing taxes on online content creators. […]

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Revenue deduction Workers threaten to shut Nigerian ports if Tinubu

Workers Threaten Nigerian Port Shutdown Over Revenue Deduction

By Ifunanya / February 12, 2024

Nigerian port workers have issued a stark ultimatum, threatening to halt operations across the country’s port sector if President Bola […]

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stock exchange

Investors sell off bonds over Treasury Bills rate hike

By IDBM Consult / February 12, 2024

February 12, 2024 Investors are dumping Federal Government of Nigeria (FGN) Bonds after the Central Bank of Nigeria (CBN) raised yield for […]

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Nigerias foreign reserves drop to record low of 24bn in

Nigeria’s Foreign Reserves Hit Record Low of $24 Billion in 2024

By Ifunanya / February 12, 2024

New data from the International Monetary Fund (IMF) reveals that Nigeria’s foreign reserves have plummeted to a historic low of […]

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FCCPC backs NERCs N105bn fine on 11 DisCos over arbitrary

FCCPC Supports NERC’s N10.5bn Fine on 11 DisCos for Unfair Billing Practices

By Ifunanya / February 12, 2024

The Federal Competition and Consumer Protection Commission (FCCPC) has expressed its support for the Nigerian Electricity Regulatory Commission’s (NERC) recent […]

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Shell supplies 475000 barrels of crude oil to PHarcourt refinery

Shell Supplies 475,000 Barrels of Crude Oil to Port Harcourt Refinery

By Ifunanya / February 12, 2024

The Shell Petroleum Development Company of Nigeria Limited has successfully delivered 475,000 barrels of crude oil to the Port Harcourt […]

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cbn imf

IMF tells CBN to pay $2.2 billion backlog to rebuild trust

By IDBM Consult / February 12, 2024

February 12, 2024 The International Monetary Fund (IMF) has advised the Central Bank of Nigeria (CBN) to settle overdue foreign exchange (forex) backlogs to […]

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DisCos need N2trn capital investment to improve power supply in

Nigeria’s Pledge to Become a Net Food Exporter Amid Economic Hardship

By Ifunanya / February 12, 2024

President Bola Ahmed Tinubu has affirmed his commitment to transforming Nigeria into a net exporter of food. The announcement was […]

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Court affirms NMDPRAs powers on statutory levies

Nigerian Court Upholds Regulatory Authority’s Power to Levy Petroleum Products

By Ifunanya / February 12, 2024

In a landmark ruling on the Petroleum Industry Act 2021, the Federal High Court has confirmed the Nigerian Midstream and […]

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Wigwe He was driving force Access Bank confirms death of

Access Holdings to Reveal Successor Following Tragic Loss of CEO Wigwe

By Ifunanya / February 11, 2024

Access Holdings has made public its plans to announce the successor to the late Group Chief Executive Officer, Herbert Wigwe, […]

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