African Business News

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

61189 nigeria spending n50bn daily on fuel subsidies that favour the rich activist

Nigeria Spending N50bn Daily on Fuel Subsidies that Favour the Rich – Activist

By Ifunanya / May 14, 2023

The Chief Executive Officer of Connected Development, Malam Hamzat Lawal, has spoken out against the continued payment of fuel subsidies […]

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$800m loan: Nigeria left with no choice but to Borrow – World Bank Director, Chaudhuri

By Ifunanya / May 14, 2023

Shubham Chaudhuri, the Country Director World Bank for Nigeria, said Africa’s most populous nation has no choice but to borrow […]

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60873 fuel subsidy hinders gas sector investment say oil marketers

Operators shun gas investments over lingering fuel subsidy

By Ifunanya / May 14, 2023

The lingering subsidy regime of the Federal Government on Premium Motor Spirit, popularly called petrol, has stalled investments in the […]

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16212 Olamilekan Adegbite

FG Takes Steps Towards Barite Processing With Inauguration of Processing Plant

By Ifunanya / May 13, 2023

In a bid to halt the importation of barite and encourage its local production, the Federal Government has commissioned a […]

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Nigeria loses spot as Africa’s top crude oil producer to Angola

By Ifunanya / May 12, 2023

Nigeria has lost its place as Africa’s crude oil producer to Angola following a decline in production. Media Talk Africa […]

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IPMAN vows clampdown on fraudsters obtaining petroleum products allocations

By Ifunanya / May 12, 2023

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has warned marketers to be careful with some individuals who are in […]

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50322 seplats notice of withdrawal on criminal charges fraudulent cso

Seplat files for stay of execution of interim orders

By Ifunanya / May 12, 2023

Indigenous energy company, Seplat Energy Plc, has said that it has taken steps against the ex parte interim orders against […]

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60587 nigerian banks intensify acquisition drive for african market share

Nigerian banks intensify acquisition drive for African market share

By Ifunanya / May 12, 2023

Nigerian banks are expanding their reach across the continent through a series of acquisitions of smaller banks, in a drive […]

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60512 cibn chairman plans revenue drive welfare

CIBN chairman plans revenue drive, welfare

By Ifunanya / May 11, 2023

The newly elected Chairman of the Chartered Institute of Bankers of Nigeria, Lagos State Branch, Adeoye Adeyemo, has said he […]

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NMDPRA shuts 75 filling stations in Osun

By Ifunanya / May 11, 2023

Nigerian Midstream and Downstream Petroleum Regulatory Authority Osun State office of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, on […]

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11827 NGX Group Building

Delay in dispute resolution affects investors’ confidence – IST Chair

By Ifunanya / May 10, 2023

The Chairman of the Investment and Securities Tribunal, Amos Azi, has said that delay in resolving disputes related to the […]

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Elumelu’s HH Capital buys 70m units of UBA shares worth N560m

By Ifunanya / May 10, 2023

HH Capital, a private equity firm founded by billionaire investor, Tony Elumelu, has bought 70 million units of shares of […]

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Largest container vessel ever arrives Nigeria’s Tincan Island Port

By Ifunanya / May 10, 2023

The Nigerian Ports Authority has received its largest container vessel at the Lagos Pilotage District in the Country’s history. The […]

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$1.7bn repatriated to Nigeria in Q1 2023 – CBN

By Ifunanya / May 10, 2023

The Central Bank of Nigeria said $1.7 billion was repatriated to Nigeria’s economy in the first quarter of 2023. The […]

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60002 nigerias non oil exports earnings increased to 5 6bn in 2022 emefiele

Nigeria’s Non-oil exports earnings increased to $5.6bn in 2022 – Emefiele

By Ifunanya / May 10, 2023

The Central Bank of Nigeria has said the country’s non-oil export earnings increased by 40 per cent to $5.6 billion […]

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Dangote flays Customs, NPA over port congestion

By Ifunanya / May 10, 2023

The Chairman of the Dangote Group, Aliko Dangote, has flayed the Nigeria Customs Service, Nigerian Ports Authority and the Nigerian […]

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Nigerians fault FG’s planned diaspora investment fund

By Ifunanya / May 10, 2023

To stop the tradition of billions of dollars in remittances from Nigerians in the diaspora going into burials, birthday parties […]

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CBN’s ‘RT200’ policy boosts fund repatriation by 40 per cent – Emefiele

By Ifunanya / May 9, 2023

CBN Governor, Godwin Emefiele …2023 Qtr1 inflow impressive at US$1.7bn The Governor of the Central Bank of Nigeria, Godwin Emefiele, […]

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Court orders Seplat to hold AGM

By Ifunanya / May 9, 2023

A Federal High Court sitting in Abuja has ordered indigenous energy firm, Seplat Energy Plc, to hold its Annual General […]

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Buhari orders NUPRC to supervise all crude oil export terminals in Nigeria

By Ifunanya / May 9, 2023

Amid overlapping functions, President Muhamadu Buhari has ordered the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, to supervise all crude oil […]

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