African Business News

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

SERAP drags NNPC to court over failure to account for

Legal Action Initiated Against NNPC Over Lack of Transparency in Nigeria’s Oil Revenue

By Ifunanya / December 24, 2023

In a significant legal move, the Socio-Economic Rights and Accountability Project (SERAP) has taken the Nigerian National Petroleum Company Limited […]

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African smartphone market grows 12 in Q3 2023—Report

The Resilient Growth of Africa’s Smartphone Market: Key Insights from Q3 2023

By Ifunanya / December 23, 2023

The African smartphone market has defied macroeconomic challenges and import limitations to achieve a remarkable 12% growth in the third […]

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Oil producing states get N75410bn as 13 per cent derivation

The Impact of Nigeria’s Foreign Exchange Reform: N1.4 Trillion in Revenue Generated in 6 Months

By Ifunanya / December 23, 2023

Nigeria’s financial landscape has witnessed a significant transformation, with the government recording a substantial surge in revenue following the implementation […]

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Forex gain adds N137tn to govt revenue – FAAC

Forex Windfall: Nigeria’s Exchange Rate Unification Boosts Government Revenue by N1.37 Trillion

By Ifunanya / December 23, 2023

In a major financial windfall for the Nigerian government, the unification of the country’s exchange rate has led to a […]

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BREAKING Ex CBN governor Emefiele freed from Kuje prison

Former CBN Chief, Godwin Emefiele, Released from Kuje Prison

By Ifunanya / December 23, 2023

After meeting his bail conditions, the former Governor of the Central Bank of Nigeria, Godwin Emefiele, has been freed from […]

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NNPCL announces date to complete Port Harcourt Refinery Phase 2 repair

NNPCL Set to Complete Port Harcourt Refinery Phase 2 Repair by End of 2024

By Ifunanya / December 23, 2023

The Nigerian National Petroleum Company Limited (NNPCL) has unveiled plans to finalize the Phase 2 repair of the Port Harcourt […]

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Naira drops against US Dollar at forex market ahead of

Naira Slumps Against US Dollar Ahead of Christmas Festivities in Nigeria

By Ifunanya / December 23, 2023

As Nigeria prepared to celebrate Christmas, the Naira suffered a setback against the US dollar in the foreign exchange markets. […]

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NGX bounces back gains 043 Tuesday

Christmas Break Leaves NGX in Bearish Territory: ASI Declines by 0.36%

By Ifunanya / December 23, 2023

As the holiday season grips the nation, the Nigerian Exchange Group (NGX) experienced a bearish trend on its last trading […]

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CBN Buharis ex aide directed Emefiele to redesign Naira notes

CBN Investigator: FG Set to Recover Illegally Sold Banks, Emefiele Implicated

By Ifunanya / December 23, 2023

A sensational revelation has emerged from the ongoing investigation into the Central Bank of Nigeria (CBN), shedding light on the […]

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CBN lifts ban on cryptocurrency transactions

Central Bank of Nigeria Reverses Cryptocurrency Transaction Ban

By Ifunanya / December 23, 2023

The Central Bank of Nigeria (CBN) has made a significant U-turn on its stance regarding cryptocurrency transactions in the country. […]

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Customs promote 2 ACGs 2209 senior officers

Nigeria Customs Service Promotes Two ACGs and 2209 Senior Officers

By Ifunanya / December 23, 2023

The Nigeria Customs Service, under the leadership of the Minister of Finance, Wale Edun, has made a significant announcement regarding […]

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My policies will bring succour Tinubu tells Nigerians ahead

President Tinubu Promises Relief for Nigerians this Christmas

By Ifunanya / December 22, 2023

President Bola Tinubu has conveyed a message of reassurance to all Nigerians, expressing confidence that his administration’s policies will provide […]

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Nigerian Govt announces date to unveil new minimum wage for

Nigeria Plans to Unveil New Minimum Wage Amidst Labour Negotiations

By Ifunanya / December 22, 2023

In a recent announcement, the Nigerian federal government declared its intention to implement a new minimum wage for workers in […]

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NAFDAC clears the air on registration status of products

NAFDAC Addresses Misinformation, Confirms Valid Registration of Popular Products

By Ifunanya / December 22, 2023

In a recent statement, NAFDAC has moved swiftly to dispel misconceptions surrounding the registration status of several widely consumed products. […]

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Emefiele indicted in N227trn ways and means advance Investigator

In-depth Investigation Reveals Alleged N22.7 Trillion ‘Ways and Means’ Scandal Involving Former CBN Governor Emefiele

By Ifunanya / December 22, 2023

An explosive report has surfaced, casting a damning shadow over the tenure of former Central Bank of Nigeria (CBN) governor, […]

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88 of workers self employed says NBS report

Nigeria’s Labor Landscape: NBS Unveils 88% Self-Employment Rate

By Ifunanya / December 22, 2023

Recent findings from the National Bureau of Statistics (NBS) have revealed a striking statistic about Nigeria’s labor force: 88% of […]

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LPG marketers demand waiver implementation

Nigerian LPG Marketers Call for Action on Import Duty Waiver

By Ifunanya / December 22, 2023

The Nigeria Association of LPG Marketers is urging prompt implementation of a presidential directive to waive import duties on gas-related […]

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Angola Withdraws from OPEC Citing Disparate Interests

By Ifunanya / December 22, 2023

Angola made a significant announcement on Thursday, revealing its decision to withdraw from the Organization of the Petroleum Exporting Countries […]

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Gov Adeleke presents N29bn bonds for pensions gratuities

Osun State Governor Allocates N2.9 Billion Bonds for Retirees’ Pensions and Gratuity

By Ifunanya / December 21, 2023

Osun State Governor, Ademola Adeleke, demonstrated his commitment to the welfare of retirees by presenting a N2.9 billion pension bond […]

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Naira scarcity heavy burden for Nigerians CACOL laments

Nigeria Struggles with Naira Scarcity as CACOL Voices Concern

By Ifunanya / December 21, 2023

The Centre for Anti-Corruption and Open Leadership (CACOL) has raised alarm over the prevailing naira scarcity in Nigeria, highlighting the […]

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