African Business News

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

UK pledges 15m for Nigerias agricultural sector development

UK Commits $15 Million to Revolutionize Nigeria’s Agricultural Industry

By Ifunanya / December 13, 2023

The United Kingdom has solidified its commitment to Nigeria’s agricultural sector by pledging a substantial $15 million investment through Valency […]

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Fuel price will soon collapse Stakeholders

Anticipated Decline in Fuel Prices Brings Hope, Say Stakeholders

By Ifunanya / December 12, 2023

Stakeholders in Nigeria’s Downstream Petroleum sub-sector are offering assurances of an imminent reduction in the pump price of fuel, signaling […]

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Nigerian govt to sell a 40 stake in Eleme petrochemicals

Nigeria Plans to Sell 40% Stake in Eleme Petrochemicals and DisCos, Reveals BPE Director

By Ifunanya / December 12, 2023

The Bureau of Public Enterprises (BPE) has announced plans to divest the Nigerian government’s stake in Eleme Petrochemicals Company Limited […]

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Nigerian govt targeting reduction of tax Finance minister

Government Aims to Mobilize Billions of Dollars in Cash Held by Nigerians to Alleviate Foreign Exchange Shortage, Says Finance Minister

By Ifunanya / December 12, 2023

The Minister of Finance, Olawale Edun, revealed that the federal government is setting its sights on foreign exchange held outside […]

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Cash shortage Calabar PoS operators increase charges by 100

Calabar PoS Operators Double Transaction Charges Amid Cash Shortage

By Ifunanya / December 12, 2023

In response to the acute shortage of physical currency in Calabar, Cross River State, Point of Sale (PoS) operators have […]

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AfDB trains stakeholders to tackle corruption

African Development Bank Empowers Stakeholders to Combat Corruption and Illicit Financial Flows

By Ifunanya / December 12, 2023

The African Development Bank (AfDB) has commenced a groundbreaking initiative, training key stakeholders to enhance their capabilities in combatting illicit […]

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NPA World Bank partner to revamp Nigerias decaying port infrastructure

Nigeria Port Authority Teams Up with World Bank to Overhaul Port Infrastructure

By Ifunanya / December 12, 2023

The Nigeria Port Authority (NPA) has announced a strategic partnership with the World Bank aimed at revitalizing the country’s ailing […]

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Power Minister faults pricing of utilized gas by GenCos in

Minister of Power Calls for Naira-Denominated Gas Pricing to Stabilize Electricity Costs

By Ifunanya / December 12, 2023

The pricing of gas utilized by Generation Companies (GenCos) in US dollars has come under scrutiny by the Minister of […]

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CAC to delist 91843 companies over failure to comply with

CAC Takes Action: Thousands of Companies Face Delisting Over Regulatory Non-Compliance

By Ifunanya / December 12, 2023

The Corporate Affairs Commission (CAC) has announced its intention to delist a staggering 91,843 companies due to their failure to […]

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Naira slumps against US dollar at forex market

The Naira Buoyantly Rises Against the US Dollar in Forex Market

By Ifunanya / December 12, 2023

The Naira kicked off the week with a promising surge, strengthening against the US dollar at the official foreign exchange […]

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Naira Devaluation External reserves fall by 165bn in six months

Naira Scarcity Persists, Impacting Nigerians Nationwide During Festive Season

By Ifunanya / December 12, 2023

As the festive season unfolds, bringing with it the promise of joy and celebration, Nigerians find themselves grappling with a […]

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Emefieles naira redesign renders farmers bankrupt FG

The Impact of Emefiele’s Naira Redesign on Nigerian Farmers: A Tragedy Unveiled

By Ifunanya / December 11, 2023

The former Central Bank governor’s controversial naira redesign policy has culminated in a harrowing narrative of agricultural hardship, rendering farmers […]

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CBN reviews timeline for issuance of credit letters amid forex

Central Bank of Nigeria Halts Processing Fees on Large Cash Deposits Amid Naira Scarcity

By Ifunanya / December 11, 2023

The Central Bank of Nigeria (CBN) has made a significant move by suspending processing fees on large cash deposits, aiming […]

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Nigerian govt targeting reduction of tax Finance minister

Finance Minister Debunks Tax Increase Rumors, Emphasizes Revenue Growth Strategy

By Ifunanya / December 11, 2023

The Minister of Finance, Wale Edun, has debunked rumors of the government seeking to increase tax rates, instead emphasizing a […]

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CBN reviews timeline for issuance of credit letters amid forex

Central Bank of Nigeria: Nigerian Banks Strong Amidst CAR Test Reports

By Ifunanya / December 11, 2023

The Central Bank of Nigeria (CBN) has moved to allay concerns amid reports suggesting Nigerian banks are struggling to meet […]

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PG Exit More firms to shut down operation MAN

Manufacturers Association of Nigeria Warns of More Closures as P&G Plans Exit

By Ifunanya / December 11, 2023

The impending departure of Procter & Gamble (P&G) from Nigeria has raised concerns, with the Manufacturers Association of Nigeria (MAN) […]

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Illegal loan apps use PSSPs to executive transactions FCCPC

Cracking Down on Illegal Loan Apps: How PSSPs Facilitate Unlawful Transactions, Reveals FCCPC

By Ifunanya / December 11, 2023

The Federal Competition and Consumer Protection Commission (FCCPC) has shed light on the use of Payment Solution Service Providers (PSSPs) […]

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Nigerian Government Removes VAT Duty Payments on Cooking Gas –

Nigerian Government Removes VAT, Duty Payments on Cooking Gas

By Ifunanya / December 11, 2023

Nigerian Government Removes VAT and Duty Payments on Cooking Gas In a groundbreaking development, the Nigerian government has taken a […]

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Strategic Interventions Will Boost GDP – Comercio Partners – Voice

Strategic Interventions Will Boost GDP – Comercio Partners

By Ifunanya / December 11, 2023

An investment bank, Comercio Partners, has said that the adoption of strategic interventions and policy support will boost the growth […]

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321867 SMEs Get 14bn Funding In Six Years – WBank

321,867 SMEs Get $1.4bn Funding In Six Years – W’Bank

By Ifunanya / December 11, 2023

No fewer than 321,867 Micro Medium and Small enterprises have enjoyed wholesale funding of $1.4bn in six years, the World […]

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