African Business News

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

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 […]

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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, […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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Oil producing states get N75410bn as 13 per cent derivation

The Nigerian Oil Sector: A Windfall for Oil-Producing States

By Ifunanya / December 17, 2023

In November 2023, Nigeria’s oil-producing states struck gold as they received a staggering N75.410 billion, a 13 percent share of […]

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Customers of revoked 183 financial institutions receive N17bn

NDIC Pays N1.7bn to Customers of Revoked Financial Institutions

By Ifunanya / December 17, 2023

The Nigeria Deposit Insurance Corporation (NDIC) has taken swift action to compensate customers affected by the revocation of licenses from […]

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Abia Gov Otti eyes 71 borrowing to fund 2024 budget

Abia State Government Plans to Secure 71% Borrowing for 2024 Budget Funding

By Ifunanya / December 15, 2023

The Abia State Government, led by Governor Alex Otti of the Labour Party, is considering borrowing to finance a substantial […]

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Nigerian Govt shuts down investment firm over illegal activities

Nigerian Government Takes Down Illegal Investment Firm for Unlawful Activities

By Ifunanya / December 15, 2023

The Nigerian government has taken decisive action by shutting down the operations of Ready Finance Investors Limited due to its […]

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CBN raises exchange rate for cargo clearance amid forex crisis

Former Central Bank Director Urges Nigerian Government to Tackle Inflation by Curbing Deficit Expenditure

By Ifunanya / December 15, 2023

Dr. Titus Okunrounmu, a former director of the Research Department at the Central Bank of Nigeria (CBN), has sounded the […]

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Food inflation rises to 3284 in Nigeria NBS

Rising Food Prices Fuel Food Inflation to 32.84% in Nigeria, Says NBS Report

By Ifunanya / December 15, 2023

A recent report by the National Bureau of Statistics (NBS) revealed that Nigeria’s food inflation surged to 32.84% in November, […]

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BREAKING Nigerias inflation rises to 2820 in November NBS

Nigeria’s Inflation Skyrockets to 28.20% in November, Signaling Economic Turbulence

By Ifunanya / December 15, 2023

Nigeria’s economy has been rocked by a dramatic surge in inflation, with the headline inflation rate soaring to 28.20% in […]

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Naira appreciates against dollar at forex market

The Naira Strengthening: A Boon for Nigeria

By Ifunanya / December 15, 2023

The Naira enjoyed a surge against the US dollar on Thursday, marking a significant milestone in the foreign exchange landscape. […]

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2023 FG might pay N600bn as electricity subsidy NERC

Nigeria’s Power Sector Cashflow Surges to N900 Billion, Easing Fiscal Burden

By Ifunanya / December 15, 2023

Nigeria’s Electricity Regulatory Commission (NERC) has reported a substantial increase in the cashflow within the country’s power sector. According to […]

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