African Business News

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

Why petrol pump price will fall in 2024 CBN

Senate Grills CBN Governor Olayemi Cardoso Over Naira Decline and Economic Hardship

By Ifunanya / February 9, 2024

The Senate Committee on Banking, Insurance, and Financial Institutions has called Central Bank of Nigeria Governor Olayemi Cardoso and other […]

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cbm

Renowned Economist Blames Nigeria’s Central Bank for Naira’s Decline

By IDBM Consult / February 9, 2024

February 9, 2024 A political economist, Prof. Pat Utomi, has blamed the Central Bank of Nigeria for contributing to the […]

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Ethiopias Largest Cement Factory to Begin Operation Soon

New Cement Factory to Compete with Dangote as East Africa’s Largest

By IDBM Consult / February 9, 2024

 February 9, 2024 A new cement factory is set to commence operations in Ethiopia to compete with Dangote Cement and […]

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1707469639 Netherlands inaugurates board to drive sustainable energy in Nigeria

Netherlands Launches Initiative to Propel Sustainable Energy in Nigeria

By Ifunanya / February 9, 2024

The Netherlands government has established an advisory board with the aim of advancing Nigeria’s transition to cleaner energy, with a […]

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Economic hardship Pensioners receive N450 monthly RSA Union raises

Nigerian Pensioners Suffer as Monthly Payouts Plummet Amidst Economic Hardship

By Ifunanya / February 9, 2024

The economic hardship in Nigeria has led to severe ramifications for pensioners as the Nigerian Union of Pensioners (NUP) reveals […]

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TotalEnergies to exit Nigerian offshore oil business

TotalEnergies Announces Exit from Nigerian Offshore Oil Business

By Ifunanya / February 9, 2024

TotalEnergies has revealed its intention to sell off its minority share in the Shell Petroleum Development Company of Nigeria Limited […]

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Investors lose N481bn as equity market extends bearish trend

Global Investment Market Faces N481 Billion Loss as Bearish Trend Continues

By Ifunanya / February 9, 2024

Investors in the equity market experienced a significant setback, losing approximately N481 billion as the market continued to exhibit a […]

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Tinubu unveils 3112 housing units project in Abuja amid economic

Tinubu Introduces 3,112 Housing Units Project in Abuja Amid Economic Challenges

By Ifunanya / February 8, 2024

Amid economic challenges, President Bola Tinubu unveiled a groundbreaking ceremony for the construction of a 3,112 housing unit project in […]

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321867 Nigerian small businesses received 14 funding in six years scaled

World Bank Allocates $15 Billion for 30 Projects to Combat Poverty in Nigeria

By Ifunanya / February 8, 2024

The World Bank has pledged to invest over $15 billion in support of 30 development projects aimed at alleviating poverty […]

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NNPCL denies fuel price hike

NNPC Denies Plans for Fuel Price Increase

By Ifunanya / February 8, 2024

In response to circulating speculations, the Nigerian National Petroleum Company Limited (NNPC) has unequivocally denied any impending rise in the […]

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BREAKING Court orders Nigerian Govt to fix prices of goods

Court orders Federal Govt to fix prices of goods within seven days

By IDBM Consult / February 8, 2024

February 8, 2024 A Federal High Court sitting in Ikoyi, Lagos, yesterday ordered the Federal Government to fix the prices of […]

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okada

Police Demand N50,000 Whenever They Stop Us —Okada riders protest

By IDBM Consult / February 8, 2024

Feb 8, 2024 Commercial Okada riders, have cried out over what they describe as the extortion exacted on them by […]

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2023 FG might pay N600bn as electricity subsidy NERC

Nigerian Regulator Reports 43,632 New Metered Electricity Customers in December

By Ifunanya / February 8, 2024

In December 2023, Nigerian Electricity Regulatory Commission (NERC) announced that electricity distribution companies had metered 43,631 new power consumers. This […]

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CBN reviews timeline for issuance of credit letters amid forex

Central Bank of Nigeria Sets New Record with N1 Trillion Treasury Bills Sale

By Ifunanya / February 8, 2024

The Central Bank of Nigeria achieved a groundbreaking feat by selling a record N1 trillion worth of treasury bills at […]

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United Capital backs CBN on stakeholder collaborations

United Capital Group Supports CBN’s Collaborative Approach for Economic Intervention

By Ifunanya / February 8, 2024

United Capital Group, an asset management company, has voiced its approval of the Central Bank of Nigeria’s decision to engage […]

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Stakeholders consumers worry as prices of flour bread soar

Global Concerns Rise as Flour and Bread Prices Skyrocket, Placing Pressure on Stakeholders and Consumers

By Ifunanya / February 8, 2024

This is a challenging time for many Nigerians, particularly the lower-income citizens. The price of bread, which has traditionally been […]

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EFCC raises special taskforce against dollarisation of economy

EFCC Takes Action Against Dollarization of Economy

By Ifunanya / February 8, 2024

The Economic and Financial Crimes Commission (EFCC) has established a Special Task Force across its Zonal Commands to crackdown on […]

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Cashless transactions hit N61106tn in 2023 — NIBSS

Nigeria’s Cashless Transactions Soar to N611.06 Trillion in 2023

By Ifunanya / February 7, 2024

The Nigeria Inter-Bank Settlement System (NIBSS) reported a significant surge in cashless transactions, reaching a record N611.06 trillion in 2023, […]

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Cashless transactions in Nigeria hit 61106 trillion in 2023

Nigeria’s Cashless Economy: A Surge to 611.06 Trillion in 2023

By Ifunanya / February 7, 2024

In the wake of a digital revolution, Nigeria’s cashless transactions have skyrocketed to an impressive N611.06 trillion in 2023, marking […]

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Gains of Tinubus economic policies will be massive Sylva

Former Bayelsa Governor Affirms Support for President Tinubu’s Economic Policies

By Ifunanya / February 7, 2024

In a recent statement, Timipre Sylva, a former Bayelsa State Governor, expressed unwavering confidence in the potential sweeping impact of […]

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