African Business News

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

Petrol price rose to N64893 in November NBS

NBS Report: Petrol Price Soars to N648.93 per Litre, Diesel Hits N1055.57 in November 2023

By Ifunanya / December 21, 2023

The National Bureau of Statistics (NBS) has released alarming data in its Petrol Price Watch and Diesel Price Watch reports […]

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FG cuts external borrowing debt soars to N88tn

Nigeria’s Public Debt Hits N88 Trillion as External Borrowing Slows Down

By Ifunanya / December 21, 2023

The latest data from Nigeria’s Debt Management Office reveals a significant shift in the country’s approach to borrowing, signaling a […]

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Naira depreciates against US Dollar at forex market

Naira’s Fluctuations: Official Market Sees Depreciation, Parallel Market Gains

By Ifunanya / December 21, 2023

The Naira, Nigeria’s currency, witnessed a slight depreciation against the dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM), the […]

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Nigerias ease of doing business Customs announces vision to Diplomats

Nigeria Customs Service Unveils Vision for Enhanced Business Environment

By Ifunanya / December 21, 2023

The Nigeria Customs Service (NCS) has set its sights on streamlining service delivery and bolstering the country’s business landscape. In […]

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FG unveils plans to reduce hardship improve living standards

Government Unveils Ambitious Plan to Ease Financial Hardships and Boost Living Standards

By Ifunanya / December 21, 2023

In a bold move to address the financial burdens faced by Nigerian citizens and improve their quality of life, Finance […]

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NGX records N259bn market capitalization loss

Record Market Capitalization and All-Share Index Surge Propel NGX to Historic Highs

By Ifunanya / December 21, 2023

The Nigerian Exchange Limited witnessed a remarkable surge on Wednesday, with the All-Share Index soaring to an all-time high of […]

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AIICO purchases 5 stake in InfraCredit

AIICO’s Acquisition: Strengthening InfraCredit’s Financial Might

By Ifunanya / December 20, 2023

AIICO Insurance Plc has made a significant financial move by acquiring a 5% stake in InfraCredit, thereby becoming the second […]

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Minister denies advocating exemption of women from taxation

Minister Uju Ohanenye Refutes Advocacy for Women’s Tax Exemption

By Ifunanya / December 20, 2023

In a staunch rebuttal, Minister of Women Affairs, Uju Ohanenye, disavowed the notion that she advocated for women to be […]

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Tinubu inaugurates committee to develop framework for consumer credit

Boosting Consumer Credit: Tinubu’s Strategic Move Towards Nigeria’s $1 Trillion Economy

By Ifunanya / December 20, 2023

In a bold and strategic move towards propelling Nigeria towards its targeted $1 trillion economy by 2026, President Bola Tinubu […]

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Toshiba delisted from Tokyo Stock Exchange after 74 years 1

Toshiba Faces New Chapter as it Bids Farewell to Tokyo Stock Exchange After 74 Years

By Ifunanya / December 20, 2023

Toshiba, a stalwart of the Tokyo Stock Exchange for 74 years, witnessed the closing chapter of its public listing on […]

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Nigerian Bakers Warn of 20% Bread Price Hike Amid Economic Hardship in January 2024

By Ifunanya / December 20, 2023

Nigerians will face yet another blow to their wallets in the new year as bread prices are set to surge […]

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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. […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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