African Business News

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

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 […]

Continue Reading
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 […]

Continue Reading
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 […]

Continue Reading
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 […]

Continue Reading
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, […]

Continue Reading
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 […]

Continue Reading
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 […]

Continue Reading
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 […]

Continue Reading
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. […]

Continue Reading
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 […]

Continue Reading
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 […]

Continue Reading
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 […]

Continue Reading
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 […]

Continue Reading
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 […]

Continue Reading
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 […]

Continue Reading
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 […]

Continue Reading
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 […]

Continue Reading
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, […]

Continue Reading
Well expand food production Tinubu

Tinubu Vows to Boost Food Production Amid Rising Hardship

By Ifunanya / February 11, 2024

In response to escalating hunger and adversity in Nigeria, President Bola Tinubu has pledged to take all necessary measures to […]

Continue Reading
Multiple taxation checkpoints and harassment Kogi cashew farmers buyers urge

Kogi Cashew Industry Under Siege: Farmers and Buyers Call for End to Multiple Taxation and Harassment

By Ifunanya / February 11, 2024

Cashew farmers and buyers in Kogi State, Nigeria, are sounding the alarm over plans to triple produce payment from ₦30,000 […]

Continue Reading
Scroll to Top