African Business News

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

Nigerias non oil exports decline to 45bn in 2023 NEPC

Nigeria’s Non-Oil Exports Decline to $4.5 Billion in 2023

By Ifunanya / January 19, 2024

The Nigerian Export Promotion Council (NEPC) revealed that the value of non-oil exports in Nigeria had decreased to $4.5 billion […]

Continue Reading
TCN raises alarm as insecurity threatens facilities

TCN explains Power Outage in Gombe, Yola, and Bauchi States

By Ifunanya / January 19, 2024

The Transmission Company of Nigeria (TCN) has shed light on the ongoing electricity outages in parts of Gombe, Yola, and […]

Continue Reading
N300m palliative Ministry releases Bill of Quantity for FGs palliatives

Nigeria Approves GlaxoSmithKline’s Exit from Stock Exchange

By Ifunanya / January 19, 2024

In a significant development, the Nigerian government, represented by the Security and Exchange Commission (SEC), has given the green light […]

Continue Reading
Naira slumps against US dollar at forex market

Naira Surges Against US Dollar, Forex Market Dynamics Unveiled

By Ifunanya / January 19, 2024

In an unexpected turn of events, the Nigerian Naira has witnessed a remarkable upturn against the US dollar within the […]

Continue Reading
Lagos ports battle corruption amidst electronic call up system

Lagos Ports’ Struggle Against Corruption Amid Electronic Call-Up System

By Ifunanya / January 19, 2024

The introduction of the electronic call-up system, also known as Eto, has transformed the movement in and out of Lagos […]

Continue Reading
Nigerian Govt records N619trn from taxes in 2023s Q3

Intensifying the Fight Against Tax Fraud: ICPC and FIRS Join Forces

By Ifunanya / January 18, 2024

In a groundbreaking move, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Federal Inland Revenue Services […]

Continue Reading
Kogi Govt restricts issuance of consent letters to miners

Kogi Government Takes Firm Stand, Bans Issuance of Mining Consent Letters

By Ifunanya / January 18, 2024

In a bold move, the Kogi State Government has imposed a ban on the issuance of consent letters to miners, […]

Continue Reading
Nigeria remains highest African oil producing nation as output hits 14m

Nigeria Leads African Oil Production with 1.4 Million Barrels per Day Output, OPEC Reports

By Ifunanya / January 18, 2024

Nigeria has solidified its position as the top oil-producing and exporting nation in Africa, with a significant increase in oil […]

Continue Reading
Investors attracted to Nigerian Govts planned 2bn fibre infrastructure fund

Nigeria’s $2 Billion Fibre Infrastructure Fund Attracts Global Investor Interest

By Ifunanya / January 18, 2024

The Nigerian government’s plan to roll out a $2 billion fibre infrastructure fund has sparked significant interest from investors worldwide. […]

Continue Reading
Nigerias stock market displaces Argentina to emerge world best

Nigeria’s Stock Market Overtakes Argentina as World’s Best

By Ifunanya / January 18, 2024

Nigeria’s stock market has taken the international financial community by storm, outpacing Argentina to claim the title of the world’s […]

Continue Reading
COP28 NNPCL signs two LNG deals

Combatting Illegal Refineries: Nigerian National Petroleum Company’s Efforts Unveiled

By Ifunanya / January 18, 2024

The Nigerian National Petroleum Company Limited (NNPCL) has embarked on a relentless mission to eradicate illegal refinery sites and illegal […]

Continue Reading
FG seeks 15bn loans to shore up naira boost budget

Nigeria Seeks $1.5 Billion in World Bank Aid to Stabilize Economy and Strengthen Budget

By Ifunanya / January 18, 2024

Nigeria is actively pursuing a $1.5 billion financial assistance package from the World Bank to address the severe dollar shortage […]

Continue Reading
Naira slumps against US dollar at forex market

Naira Plummets Against US Dollar in Forex Market

By Ifunanya / January 18, 2024

The Naira has experienced a significant depreciation against the US Dollar in the foreign exchange market, marking a consecutive decline. […]

Continue Reading
Naira Nigerias external reserves shed 428bn in 2023

Central Bank of Nigeria Takes Tough Stance Against Forex Defaulters

By Ifunanya / January 18, 2024

The Central Bank of Nigeria (CBN) has announced its intention to crack down on individuals and entities who default on […]

Continue Reading
Nigerian Govt announces plan to suspend multiple taxation nationwide

Nigeria Moves to Halt Widespread Taxation Abuse

By Ifunanya / January 17, 2024

The Nigerian government is taking decisive steps to suspend multiple taxation nationwide, signaling a major breakthrough in tax reforms. The […]

Continue Reading

Few Defective Factory Products Or a Flood of Fake Rechargeable Fans into Nigeria?

By IDBM Consult / January 17, 2024

Jan. 17, 2024 Is it a case of a few factory-defective products that came as part of a huge bulk […]

Continue Reading
Nigerian govt will save N8 trillion from fuel subsidy forex

Nigeria to Save N8 Trillion Annually from Fuel Subsidy and Forex Reforms

By Ifunanya / January 17, 2024

A recent revelation by the Presidential Fiscal Policy and Tax Reforms Committee indicates that Nigeria’s federal government is set to […]

Continue Reading
Dangote refinery What Nigerians should expect on fuel price

The Impact of Dangote Refinery on Fuel Prices: Insights from Petroleum Retailers

By Ifunanya / January 17, 2024

The long-anticipated commencement of operations at the Dangote refinery has stirred up conversations about the potential effects on fuel prices […]

Continue Reading
NGX bounces back gains 043 Tuesday

Nigerian Stock Market Hits Record High: ASI Soars by 3.93%

By Ifunanya / January 17, 2024

The Nigerian Exchange Limited witnessed a significant surge as the All-Share Index (ASI) soared by 3.93%, reaching an all-time high […]

Continue Reading
NAssembly raises works ministry budget to over N1tn

National Assembly Boosts Ministry of Works Budget to Over N1 Trillion

By Ifunanya / January 17, 2024

The National Assembly has approved an increase in the budget allocation for the Ministry of Works, raising it from N657.3 […]

Continue Reading
Scroll to Top