African Business News

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

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 […]

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Dangote investors gain N514bn after refinery takeoff

Dangote Refinery Launch Boosts Investor Wealth by N514 Billion

By Ifunanya / January 16, 2024

The news of the long-awaited start of production at the Dangote Refinery has sent ripple effects through the investment landscape, […]

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Oil theft NNPC uncovers 83 illegal refineries in 7 days

NNPC Exposes 83 Illegal Oil Refineries and 15 Pipeline Connections in 7 Days

By Ifunanya / January 16, 2024

The Nigerian National Petroleum Company Limited (NNPCL) has revealed the startling discovery of 83 unauthorized refineries in the Niger Delta […]

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Shell agrees to sell SPDC announces plan to exit Nigeria

Shell’s $2.4 Billion Deal: Exiting Nigeria as SPDC Sale to Local Consortium is Announced

By Ifunanya / January 16, 2024

Shell, a global oil giant, has made a landmark decision to sell off its Nigerian subsidiary, Shell Petroleum Development Company […]

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Electricity Nigeria Govt spends N3758bn on subsidies consumers pay N7828

Nigeria Grants 13 New Electricity Generation Licenses to Boost Power Supply

By Ifunanya / January 16, 2024

In a move aimed at addressing Nigeria’s persistent power generation challenges, the federal government has recently announced the issuance of […]

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No directive to hike electricity tariff January 1 – Discos

FG Grants 13 New Power Generation and Distribution Licences to Drive Electricity Access

By Ifunanya / January 16, 2024

The Nigerian Electricity Regulatory Commission, acting on behalf of the Federal Government, has recently issued 13 new licenses aimed at […]

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N300m palliative Ministry releases Bill of Quantity for FGs palliatives

Nigeria Aims for 57% Revenue Increase by 2024

By Ifunanya / January 16, 2024

Nigeria’s federal government is setting its sights on a substantial 57% boost in revenue collection by 2024. The country’s foremost […]

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Naira drops against US Dollar at forex market ahead of

Naira Surges Against US Dollar in Monday Forex Market Opening

By Ifunanya / January 16, 2024

In an unexpected turn of events, Nigeria’s Naira made significant strides against the US dollar as trading commenced on Monday. […]

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Security agencies not utilising NIN SIM data tracking – Pantami

Minister Criticizes Security Agencies for Underutilizing NIN-SIM Data Tracking in Crime Prevention

By Ifunanya / January 16, 2024

Former Minister of Communications and Digital Economy, Isa Pantami, has expressed disappointment over the failure of security agencies to effectively […]

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Sanwo Olu signs 2024 budget with N2174bn increase

Lagos Governor Sanwo-Olu Enacts 2024 Budget with N21.74bn Increase

By Ifunanya / January 15, 2024

In a significant move, Governor Babajide Sanwo-Olu of Lagos State has officially signed the 2024 Appropriation Bill into law, marking […]

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Food inflation rises to 3284 in Nigeria NBS

Nigeria’s Alarming Food Inflation Reaches 33.93% by December 2023

By Ifunanya / January 15, 2024

As the year drew to a close, Nigeria faced a significant surge in food inflation, reaching a staggering 33.93% in […]

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PHarcourt refinery begins test run Rivers 11 others get supply soon

Privatization of Port Harcourt Refinery Marks New Era for Nigeria’s Energy Sector

By Ifunanya / January 15, 2024

Amid the resurgence of the Port Harcourt oil refinery, the Nigerian National Petroleum Company Limited (NNPCL) has unveiled plans to […]

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BREAKING Nigerias inflation rises to 2820 in November NBS

Nigeria’s Inflation Climbs to 28.92% in December, Marking Twelfth Consecutive Increase

By Ifunanya / January 15, 2024

In a concerning economic development, Nigeria’s headline inflation has surged to 28.92% in December from the previous rate of 28.20% […]

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Weve been deceiving ourselves Nigerian govt speaks on forex

Nigeria’s Admission of Forex Crisis: A Road to Reform

By Ifunanya / January 15, 2024

The Nigerian government has candidly acknowledged its failure to address the foreign exchange crisis effectively. In a conversation with journalists […]

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BREAKING Dangote refinery commences production

Dangote Refinery’s Impact: Marketers Predict Impending Fuel Price Reduction

By Ifunanya / January 15, 2024

The long-awaited commencement of operations at the Dangote Refinery has raised expectations of a reduction in fuel prices, with industry […]

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LASRERA EFCC to combat real estate fraud.webp

Joining Forces: LASRERA and EFCC Unite to Combat Real Estate Fraud

By Ifunanya / January 15, 2024

In a significant move aimed at safeguarding the real estate sector, the Lagos State Real Estate Regulatory Authority (LASRERA) and […]

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FG announces review of guidelines for ICT service providers

Federal Government Initiates Overhaul of ICT Service Provider Guidelines

By Ifunanya / January 14, 2024

The Nigerian government has unveiled its agenda to embark on a comprehensive overhaul of the guidelines governing the operations and […]

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Less than five per cent of Nigerias land is properly

Nigeria’s Land Documentation Crisis Unveiled by former FUTA VC

By Ifunanya / January 14, 2024

The complexities of land reform policies in Nigeria are unveiled in an exclusive interview with Prof. Peter Adeniyi, the Chairman […]

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Nigerian Govt to boost food production through mechanisation

Nigeria’s Government Initiates Plan to Revolutionize Food Production with Mechanization

By Ifunanya / January 13, 2024

In a bid to ramp up food production across the nation, Nigeria’s Minister of Agriculture and Food Security, Sen. Abubakar […]

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SMEDAN launches internship programme for entrepreneurs

SMEDAN’s Internship Programme: Cultivating Future Entrepreneurs in Nigeria

By Ifunanya / January 13, 2024

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has embarked on an ambitious mission to foster the entrepreneurial […]

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