African Business News

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

Foreign airlines decry lingering forex crisis as backlog mounts

Foreign Airlines Struggle Amid Lingering Forex Crisis in Nigeria

By Ifunanya / January 23, 2024

Foreign airlines are facing a mounting challenge in Nigeria as they grapple with a prolonged forex crisis, raising concerns of […]

Continue Reading
Average price of cooking gas increases by 870 annually

Global Cooking Gas Prices Surge by 8.70% Annually, Reaching Record Highs

By Ifunanya / January 22, 2024

The average price of 5kg of Liquified Natural Gas (LNG), commonly known as cooking gas, has soared by 8.70% to […]

Continue Reading
Dangote Cement emerges first stock to hit N10tn capitalisation on

Dangote Cement’s Market Cap Hits N10tn, a Historic Milestone for NGX

By Ifunanya / January 22, 2024

Dangote Cement, a major player on the Nigerian Exchange (NGX), achieved a historic milestone as it became the first company […]

Continue Reading
Dangote Cement emerges first stock to hit N10tn capitalisation on

Dangote Cement: First Stock to Achieve N10tn Capitalisation Milestone on NGX

By Ifunanya / January 22, 2024

At the close of trading on Monday, Dangote Cement’s market capitalisation surged to N10tn, making history on the Nigerian Exchange […]

Continue Reading

British Council Raises IELTS Exam Fees in Nigeria for the Second Time in Five Months

By Ifunanya / January 22, 2024

The British Council in Nigeria has announced a significant increase in the fees for the International English Language Testing System […]

Continue Reading
COP28 NNPCL signs two LNG deals

Nigerian National Petroleum Company Limited Reveals Insights on $3.3 Billion Afriximbank Loan

By Ifunanya / January 22, 2024

Amid mounting concerns over the $3.3 billion loan secured for the Nigerian Government by the Nigerian National Petroleum Company Limited […]

Continue Reading
Nigerian govt berths largest container vessel

Nigeria Welcomes Largest Container Vessel at Lekki Deep Seaport

By Ifunanya / January 22, 2024

In a monumental achievement, the Nigerian government has successfully welcomed the largest container vessel, “Maersk Edirne,” at the Lekki Deep […]

Continue Reading
Tinubu tax panel asks states to suspend low revenue taxes

Tinubu-Led Committee Urges Suspension of Low-Revenue Taxes Across Nigerian States

By Ifunanya / January 22, 2024

The Presidential Committee on Fiscal Policy and Tax Reforms has taken a significant step towards enhancing Nigeria’s tax system. By […]

Continue Reading
Telcos spending on diesel rises by 35 hits N429bn

Telcos’ Spending on Diesel Soars by 35%, Reaching N429 Billion

By Ifunanya / January 21, 2024

An unprecedented surge in diesel prices has led to a substantial 35% increase in the expenditure of fueling Nigeria’s communication […]

Continue Reading
Kano Internal Revenue Service debunks sacking eight directors

Kano State Revenue Service Denies Dismissing Eight Directors

By Ifunanya / January 21, 2024

The Kano State Internal Revenue Service has vehemently refuted claims of dismissing eight of its directors, labeling the reports as […]

Continue Reading
Naira gains against US Dollar at forex market

Naira’s Slight Dip Against US Dollar Raises Concerns

By Ifunanya / January 20, 2024

The naira witnessed a marginal depreciation in the foreign exchange market, with data from FMDQ revealing a shift to N902.45 […]

Continue Reading
14 firms record 34671bn profits from fossil fuel in 12

Exposing the Profiteering: Fossil Fuel Giants Rake in $346.71bn in 12 Months

By Ifunanya / January 20, 2024

A recent report by ActionAid has lifted the veil on the staggering profits amassed by fourteen fossil fuel companies over […]

Continue Reading

Power Outage Alert: AEDC Announces Blackout in Gwarimpa, Abuja

By Ifunanya / January 20, 2024

Residents of Gwarimpa, the capital of Nigeria, are facing a major power outage as the Abuja Electricity Distribution Company (AEDC) […]

Continue Reading
321867 Nigerian small businesses received 14 funding in six years scaled

World Bank Report: Internet Access Reduces Extreme Poverty by 7% in Nigeria and Tanzania

By Ifunanya / January 20, 2024

A recent report by the World Bank titled “Digital Transformation Drives Development in Africa” reveals that improved access to internet […]

Continue Reading
14 fossil fuel firms rake in 346bn profit – Report

Global Fossil Fuel Giants Amass $346 Billion in Windfall Profits, Igniting Calls for Climate Action

By Ifunanya / January 20, 2024

According to a recent report by ActionAid, 14 fossil fuel companies have collectively amassed a staggering $346.713 billion in profits […]

Continue Reading
Aviation workers support relocation of FAAN headquarters to Lagos

Aviation Workers Rally in Support of FAAN Headquarters Relocation to Lagos

By Ifunanya / January 19, 2024

The decision by the Federal Airports Authority of Nigeria (FAAN) to move its corporate headquarters from Abuja to Lagos has […]

Continue Reading
Centre demands resignation of CBN Gov as naira continues free

Central Bank Governor Faces Calls to Resign as Nigerian Naira Plummets

By Ifunanya / January 19, 2024

The Centre for Social Justice, Equity, and Transparency (CESJET) has issued a demand for the resignation of Central Bank of […]

Continue Reading
PETROAN welcomes NNPCLs call for private oil firms to run

PETROAN Applauds NNPCL’s Invitation for Private Firms to Operate Port Harcourt Refinery

By Ifunanya / January 19, 2024

The Petroleum Product Retail Outlet Owners Association of Nigeria, PETROAN, has expressed optimism over the Nigerian National Petroleum Company Limited’s […]

Continue Reading
Electricity Nigerian govt mulls unbundling of 11 DisCos

Nigeria Government Authorizes Electricity Distribution Companies to Directly Purchase Power from Producers

By Ifunanya / January 19, 2024

The Nigerian government has officially granted approval to Electricity Distribution Companies (DisCos) in the country to directly procure electricity from […]

Continue Reading
No increment in electricity tariff Kaduna Electric informs customers

Kaduna Electric Confirms No Increase in Electricity Tariff for Customers

By Ifunanya / January 19, 2024

In a recent statement, Kaduna Electric, a major power distribution company in the northwest region of Nigeria, assured its customers […]

Continue Reading
Scroll to Top