African Business News

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

NIN enrolment hits 10416m NIMC

Nigeria’s National Identity Enrollment Surges to 104.16 Million, Striving Towards World Bank Target

By Ifunanya / January 4, 2024

In a significant stride towards universal identification, Nigeria’s National Identity Number (NIN) enrollment has soared to 104.16 million as of […]

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Local rice price rise 73 in 12 months – NBS

Local Rice Prices Surge 73% in Nigeria, Driving Food Inflation

By Ifunanya / January 4, 2024

Amidst increasing production costs and logistical challenges, the price of local rice in Nigeria has surged by a staggering 73.2% […]

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Generations will pay from current Africas debt Obasanjo

Obasanjo Warns of Impending Burden: Future Generations to Inherit Africa’s Debt Crisis

By Ifunanya / January 4, 2024

In a stark warning, former Nigerian President Olusegun Obasanjo has underscored the inevitability of the next generations of Africans bearing […]

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South African billionaire Rupert displaces Nigerian Dangote to emerge Africas

South African Billionaire Johann Rupert Ousts Aliko Dangote as Africa’s Wealthiest Man

By Ifunanya / January 4, 2024

In a recent announcement by Forbes Magazine, South African tycoon Johann Rupert has surpassed Nigerian mogul Aliko Dangote to claim […]

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Hike in price of staple foods imminent in Nigeria

Nigeria and West Africa Brace for Surge in Staple Food Prices in 2024

By Ifunanya / January 3, 2024

A daunting forecast has emerged, indicating that Nigerians and other West African nations are set to face a significant spike […]

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NGX bounces back gains 043 Tuesday

The Nigeria Exchange Continues Bullish Trend, ASI Reaches All-Time High

By Ifunanya / January 3, 2024

The Nigeria Exchange Limited (NGX) witnessed a remarkable surge on Wednesday, with the All-Share Index (ASI) appreciating by 2.04%, soaring […]

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Nigeria other West African countries rice production to increase in

Rice Production Set to Surge in Nigeria and West Africa in 2024

By Ifunanya / January 3, 2024

In a recent report by the United Nations Office for the Coordination of Humanitarian Affairs (OCHA), it has been disclosed […]

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Nigerian Railway to increase daily train trips in 2024

Nigeria Railway Corporation Announces Night Operations Commencement

By Ifunanya / January 3, 2024

The Nigeria Railway Corporation (NRC) has unveiled its plan to initiate night operations by early 2024, aiming to expand passenger […]

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Stakeholders divided over proposed import ban on used vehicles

Controversy Surrounds Proposed Ban on Imported Used Vehicles Over 20 Years Old

By Ifunanya / January 3, 2024

Debate rages on following the proposal to outlaw the importation of used vehicles over 20 years old in the country. […]

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Manufacturers project 32 per cent economic growth in 2024

Nigeria’s Manufacturing Sector Anticipates 3.2% Economic Growth in 2024

By Ifunanya / January 3, 2024

The Manufacturers Association of Nigeria is optimistic about the country’s real sectoral growth, projecting a 3.2% increase in 2024. In […]

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BYD overtakes Tesla as worlds top electric vehicles maker

BYD Surpasses Tesla as Global Leader in Electric Vehicle Production

By Ifunanya / January 2, 2024

According to recently released sales figures, Chinese electric vehicle manufacturer BYD has dethroned its American counterpart, Tesla, as the world’s […]

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Nigerias capital importation fell by 36 to 65465m in Q3

Nigeria’s Capital Importation Plummets by 36% to $654.65 Million in Q3 2023

By Ifunanya / January 2, 2024

Nigeria experienced a significant 36.45% decline in total capital importation, dropping to $654.65 million in the third quarter of 2023 […]

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Bitcoin Breaks $45,000 Barrier, Signaling Crypto Market Resurgence

By Ifunanya / January 2, 2024

In a remarkable turn of events, Bitcoin, the pioneering cryptocurrency, soared past the $45,000 mark on Tuesday, marking its highest […]

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Dangote refinery gets another one million crude barrels

Dangote Refinery: Milestone Achieved with Fourth Shipment of Crude Oil

By Ifunanya / January 2, 2024

The Dangote Petroleum Refinery reached a significant milestone on Monday with the arrival of its fourth shipment of one million […]

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NAFDAC clears the air on registration status of products

NAFDAC’s Initiatives to Bolster MSMEs Amid Economic Challenges

By Ifunanya / January 2, 2024

The National Agency for Food and Drug Administration and Control (NAFDAC) has unveiled a series of measures to assist Micro, […]

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School feeding to gulp N100bn in 2024 Tinubu

Bola Tinubu Unveils N100 Billion School Feeding Program in 2024 Budget Signing

By Ifunanya / January 2, 2024

In a landmark move, President Bola Tinubu recently revealed that the 2024 budget includes a staggering N100 billion allocation for […]

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FG insists on electricity subsidy amid call for tariff hike scaled

Nigeria Stands Firm on Electricity Subsidy Amidst Calls for Tariff Increase

By Ifunanya / January 2, 2024

The Nigerian government is resolute on maintaining electricity subsidies in the face of mounting pressure for tariff hikes within the […]

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Intervene in Rivers crisis APC chieftain urges Tinubu

Nigeria’s Economic Rollercoaster in 2023 Under President Tinubu’s Administration

By Ifunanya / January 2, 2024

As we reflect on the year 2023, it was a period of immense challenges and transitions for Nigeria’s economy under […]

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Winners emerge in FCMB millionaire promo

FCMB’s Millionaire Promo Season 9: Celebrating the Triumph of 10 Lucky Winners

By Ifunanya / January 2, 2024

In a thrilling culmination to the First City Monument Bank (FCMB) Millionaire Promo Season 9, ten fortunate individuals have clinched […]

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2024 budget Tinubu gives marching order to MDAs on performance

2024 budget: Tinubu gives marching order to MDAs on performance report

By Ifunanya / January 1, 2024

Tinubu Urges Government Agencies to Provide Monthly Budget Performance Reports Nigeria’s President, Bola Ahmed Tinubu, has issued a directive to […]

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