African Business News

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

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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NGX records N259bn market capitalization loss

Nigerian Exchange Limited Sees 0.54% ASI Growth Boosting Market Capitalization by N243 Billion

By Ifunanya / January 13, 2024

The Nigerian Exchange Limited (NGX) witnessed a surge in market activities, with the All-Share Index (ASI) seeing a 0.54% increase, […]

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BREAKING Tinubu appoints NIMASA NPA directors

Tinubu’s Appointment of Executive Directors for Gas Infrastructure Fund

By Ifunanya / January 13, 2024

President Bola Tinubu has given the green light for the formation of a Governing Council of the Midstream and Downstream […]

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BREAKING Dangote refinery commences production

Dangote Refinery Begins Production, Marking a Milestone for African Energy Independence

By Ifunanya / January 12, 2024

In an unprecedented move set to make waves across the globe, the Dangote Petroleum Refinery has officially commenced production of […]

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Electricity Nigeria Govt spends N3758bn on subsidies consumers pay N7828

Nigeria Shifts Control of Electricity Distribution Companies From BPE to Ministry of Finance Incorporated

By Ifunanya / January 12, 2024

The Nigerian government has made a significant move by transferring its 40% ownership stake in electricity distribution companies (DisCos) from […]

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Nigerias active voice internet subscribers surge in Q3 2023

Nigeria Witnesses Significant Surge in Voice and Internet Subscribers in Q3 2023

By Ifunanya / January 12, 2024

In the third quarter of 2023, Nigeria experienced a substantial increase in active voice and internet subscribers, as revealed by […]

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Brent crude price hits rooftop amid tension in Middle East

Rising Tensions in Middle East Propel Brent Crude Price to $79.18 per Barrel

By Ifunanya / January 12, 2024

The Brent crude price surged by 2.3% to reach $79.18 per barrel in the wake of escalating tensions in the […]

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Two million workers to lose jobs in 2024 ILO

Global Unemployment Forecasted to Rise: ILO Report Warns of 2 Million Job Losses in 2024

By Ifunanya / January 12, 2024

The International Labour Organisation (ILO) has sounded the alarm, projecting that approximately two million workers worldwide could lose their jobs […]

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The Strategic Decision Behind Nigeria’s N800 per Dollar Benchmark in the 2024 Budget

By Ifunanya / January 12, 2024

In a recent revelation, Atiku Bagudu, Nigeria’s Minister of Budget and National Planning, unveiled the rationale behind the Nigerian government’s […]

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More multinationals may exit Nigeria in 2024 – Report

2024 Projections: Multinationals in Nigeria’s FMCG Sector Face Potential Exodus, High Operating Costs

By Ifunanya / January 12, 2024

A recent report by Cardinal Stone, a financial solutions firm, has raised concerns about the likelihood of multinational firms within […]

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Tinubu briefed on prospects of 10bn investment in steel sector

Tinubu Receives Briefing on Potential $10 Billion Steel Sector Investment

By Ifunanya / January 12, 2024

President Bola Tinubu met with the Minister of Steel Development, Prince Shuaibu Abubakar Audu, and the Minister of Defence, Alhaji […]

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Fix all challenges Aviation Minister Keyamo to CEOs directors

Rising to the Challenge: Aviation Minister Calls for Transformation

By Ifunanya / January 11, 2024

The Minister of Aviation and Aerospace Development, Festus Keyamo, has issued a call to action for the newly-appointed chief executive […]

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NGX records N259bn market capitalization loss

Nigerian Stock Exchange Rebounds with 0.66% Increase

By Ifunanya / January 11, 2024

The Nigerian Exchange Limited witnessed a remarkable rebound, with the All-Share Index surging by 0.66% or 540.88 points to conclude […]

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Nigerians with BVN hit 603m amid CBN deadline

Nigeria’s BVN Enrollment Soars to 60.3 Million Ahead of CBN’s Deadline

By Ifunanya / January 11, 2024

In a race against time, Nigerian bank customers are flocking to register for the Bank Verification Number (BVN), with figures […]

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Naira slumps against US dollar at forex market

Naira Makes Modest Gains Against US Dollar in Forex Market

By Ifunanya / January 11, 2024

The Naira saw a slight improvement against the US dollar in the foreign exchange market on Wednesday. According to data […]

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Electricity Nigeria Govt spends N3758bn on subsidies consumers pay N7828

Nigeria Budgets N450bn for 2024 Electricity Interventions and Subsidies

By Ifunanya / January 11, 2024

In 2024, the Nigerian Federal Government plans to allocate a staggering N450 billion towards power subsidies and interventions, as revealed […]

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999 households yet to receive FGs cash transfer – WBank

World Bank Forecasts 2.3% Growth in Global Trade for 2024

By Ifunanya / January 11, 2024

Global trade is anticipated to experience a 2.3% growth in 2024, a significant rebound from the stagnant pace witnessed in […]

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NAFDAC announces stringent requirements for pharmaceutical products registration

NAFDAC’s New Rules for Pharmaceutical Product Registration Set to Raise Quality Standards

By Ifunanya / January 10, 2024

The National Agency for Food and Drug Administration and Control (NAFDAC) recently made a groundbreaking announcement about the stringent requirements […]

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CBN lifts ban on cryptocurrency transactions

CBN Dismisses Boards of Union, Titan Trust, Keystone, Polaris Banks

By Ifunanya / January 10, 2024

In a dramatic turn of events, the Central Bank of Nigeria (CBN) has wielded its authority by sacking the boards […]

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NNPCL announces N25trn profit Daily Post Nigeria

NNPCL Shatters Records with N2.5 Trillion Profit Surge

By Ifunanya / January 10, 2024

The Nigerian National Petroleum Company Limited (NNPCL) has made headlines by revealing a staggering profit of N2.548 trillion in 2022, […]

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