African Business News

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

Domestic borrowing jumps by 134 rises to N52tn

Rise in Nigeria’s Domestic Borrowing Soars to N52 Trillion in 2023

By Ifunanya / December 20, 2023

Nigeria’s domestic debt stock surged by an astonishing 134%, soaring to a staggering N52 trillion by the end of 2023. […]

Continue Reading
Fake products NAFDAC DG Adeyeye gives reason for prevalence in

The Battle Against Counterfeits: NAFDAC DG Adeyeye Sheds Light on the Pervasive Issue in Nigeria

By Ifunanya / December 20, 2023

The proliferation of counterfeit products in Nigeria’s market has sparked widespread concern among its citizens. In a recent interview monitored […]

Continue Reading
Supply to firm up as Ukraine sends 25000 tonnes of

Ukraine Sends 25,000 Tonnes of Grain to Bolster Nigeria’s Supply Chain

By Ifunanya / December 20, 2023

Nigeria is poised for a significant boost in its grain supply as a consignment of 25,000 tons of Ukrainian grain […]

Continue Reading
Nigerias domestic debt grows by 132 per cent hits N519trn

Nigeria’s Domestic Debt Soars to N51.9 Trillion, Signaling Economic Challenges Ahead

By Ifunanya / December 20, 2023

Nigeria’s domestic debt has surged by a staggering 132 per cent, reaching an alarming N51.96 trillion at the close of […]

Continue Reading
Naira slumps against US dollar at forex market

The Naira Gains Ground Against the US Dollar at Forex Market

By Ifunanya / December 20, 2023

The Nigerian Naira showed resilience as it appreciated against the US dollar in the official foreign exchange market. According to […]

Continue Reading
Delta NNPCL UTM offshore sign agreement to develop floating LNG

Delta, NNPCL, UTM offshore sign agreement to develop floating LNG

By Ifunanya / December 20, 2023

# Delta State, NNPC, and UTM Offshore Join Forces for Nigeria’s First Floating LNG Project In a landmark development, the […]

Continue Reading
FG unveils date for disbursement of N75bn SMEs palliative

Boost for Nigerian Small Businesses as FG Announces N75bn SMEs Stimulus Disbursement in 2024

By Ifunanya / December 19, 2023

In a significant development for Nigeria’s small-scale business community, Vice President Kashim Shettima has revealed the commencement date for the […]

Continue Reading
Poor management of govts assets contributes to Nigerias revenue crisis

Unleashing Nigeria’s Economic Potential: The Crucial Role of Government Asset Management

By Ifunanya / December 19, 2023

In a revelation that sheds light on Nigeria’s fiscal challenges, Dr. Armstrong Katang, the Chief Executive Officer of the Ministry […]

Continue Reading
Naira Devaluation External reserves fall by 165bn in six months

Fear Rises as Nigerian Banks Grapple with Deposit Decline Amidst Naira Scarcity

By Ifunanya / December 19, 2023

The Standing Deposit Facility of Nigerian banks has experienced an alarming 18% decline, plummeting to N2.4 trillion in November from […]

Continue Reading

Investors Gear Up for Yuletide as NGX Records Marginal Gains

By Ifunanya / December 19, 2023

The Nigerian Stock Exchange (NGX) kicked off the week on a positive note, with the All-Share Index edging up by […]

Continue Reading
Shoprite Deputy Senate president to halt firms exit from Kano

Deputy Senate President Takes Action to Prevent Shoprite’s Exit from Kano State

By Ifunanya / December 19, 2023

The Deputy President of the Senate, Senator Barau Jibrin, has taken a stand to thwart the looming departure of Shoprite, […]

Continue Reading
Tinubu charges NNPCL board firm projects 2mbpd oil production

Tinubu Urges NNPCL to Ramp Up Oil Production to 2mbpd

By Ifunanya / December 19, 2023

President Bola Tinubu inaugurated the Board of the Nigerian National Petroleum Company Limited, tasking its members to prioritize excellence and […]

Continue Reading
I will strenghten education system revitalise Nigerian economy President

President Tinubu Issues Stern Warning to NNPCL Board: ‘Perform or Face Dissolution’

By Ifunanya / December 18, 2023

President Bola Tinubu has issued a stern warning to the newly inaugurated Board of the Nigerian National Petroleum Company Limited […]

Continue Reading
TikTok gives reasons for deleting 14m videos uploaded by Nigerian

TikTok Deletes 1.4 Million Videos by Nigerian Users, Takes Aim at Fraudulent Activities

By Ifunanya / December 18, 2023

TikTok, the popular short video platform under the ownership of Bytedance, has disclosed the deletion of 1.4 million videos uploaded […]

Continue Reading
Core banking will drive growth in 2024 – Vetiva

The Future of Banking: Vetiva Predicts Core Banking as Key Driver of Growth in 2024

By Ifunanya / December 18, 2023

As we look to the future of the banking industry, Olumide Sole, the sub-Saharan banking research analyst at Vetiva Capital […]

Continue Reading
999 households yet to receive FGs cash transfer – WBank

The World Bank Reports 99.9% of Nigerian Households Yet to Receive Government’s Cash Transfer

By Ifunanya / December 18, 2023

Recent findings from the World Bank have revealed that a staggering 99.9% of the targeted impoverished and vulnerable households in […]

Continue Reading
World Bank reveals real pump price of fuel without Nigerian

World Bank: Only 1.5 Million Out of 15 Million Nigerian Households Receive FG’s N25,000 Cash Transfer

By Ifunanya / December 18, 2023

The World Bank has revealed that only 1.5 million out of the 15 million vulnerable households targeted in Nigeria have […]

Continue Reading
Electricity Nigeria Govt spends N3758bn on subsidies consumers pay N7828

The Truth Behind Nigeria’s Electricity Subsidies: Exploring the Impact on Government Spending and Consumer Payments

By Ifunanya / December 18, 2023

In the first nine months of the year, the Nigerian government allocated a staggering N375.8 billion to electricity subsidies, while […]

Continue Reading
Fuel price will soon collapse Stakeholders

Fuel price: NLC, PDP, LP issue stern warning as World Bank recommends N750/litre

By Ifunanya / December 18, 2023

World Bank Urges Nigeria to Consider N750/litre Fuel Price Amid Backlash from Key Stakeholders Nigerians are in for tougher times […]

Continue Reading
Customs vows to end ports clearance delays other challenges

Transforming Ports: Nigerian Customs’ Pledge to Streamline Clearance Processes

By Ifunanya / December 17, 2023

The Comptroller-General of Customs, Adewale Adeniyi, has made a resolute commitment to tackling the challenges plaguing clearance processes at ports […]

Continue Reading
Scroll to Top