African Business News

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Akwa Ibom records N34.8bn IGR in 2022 – AKIRS

By Ifunanya / April 28, 2023

Akwa Ibom State Internal Revenue Services said it recorded an increase of over N34.8bn in its revenue generation for the […]

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53863 gdp fell 11 n12bn projects abandoned over insecurity cds

GDP fell 11%, N12bn projects abandoned over insecurity – CDS

By Ifunanya / April 28, 2023

The Chief of Defence Staff, General Lucky Irabor, has said the spate of insecurity across different parts of the country […]

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Seplat Energy grows revenue by 36.9% amid crisis

By Ifunanya / April 28, 2023

Indigenous energy company, Seplat Energy Plc, grew its revenue by 36.9 per cent to $331m in the first quarter of […]

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Retailers step up as institutional investors shun traded funds

By Ifunanya / April 28, 2023

Institutional investors are abandoning the Exchange Traded Funds segment of the Nigerian capital market, creating a void that retail investors […]

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FG plans supplementary budget as NEC suspends subsidy removal

By Ifunanya / April 28, 2023

The National Economic Council, on Thursday, in Abuja, asked the Federal Government to put the June deadline for petroleum subsidy […]

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Freight rate up as 50 per cent of foreign vessels exit Nigeria

By Ifunanya / April 27, 2023

Aminu Umar, the President of the Nigerian Chamber of Shipping has said the freight rate increased to 70 per cent […]

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Samsung Electronics logs worst quarterly earnings in 14 years

By Ifunanya / April 27, 2023

Samsung Electronics on Thursday reported its worst quarterly profits in 14 years, blaming slowing consumer spending on electronics and a […]

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NAHCO grows profit to N3.8bn

By Ifunanya / April 27, 2023

Nigerian Aviation Handling Company Plc said its pre-tax profit rose by 315.1 per cent in 2022, riding on the back […]

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50% foreign vessels exit Nigeria, freight hike looms – Shipowners

By Ifunanya / April 27, 2023

The President of the Nigerian Chamber of Shipping, Aminu Umar, says rising insecurity and poor government policies have forced about […]

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NANS gives MultiChoice seven days to reverse price hike

By Ifunanya / April 26, 2023

threatens to shutdown sales outlets nationwide The National Association of Nigerian Students, South-west Zone, has given MultiChoice Nigeria, a seven-day […]

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$22bn needed to turn around free zones in Delta, other states

By Ifunanya / April 26, 2023

To fully realise the gains of economic zones, an investment of about $22 billion is required in Delta and other […]

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Food prices high globally – World Bank

By Ifunanya / April 26, 2023

Inflation in food prices remains high globally, according to the World Bank’s Food Security Update issued on Wednesday. Between December […]

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Public Notice: FIRS extends VAT filing deadline for April 2023

By Ifunanya / April 26, 2023

Public Notice: FIRS extends VAT filing deadline for April 2023 Following the introduction of a new process of claiming INPUT […]

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FG, US firm sign MoU on $15bn rail project

By Ifunanya / April 26, 2023

The Federal Government, through the Ministry of Niger Delta has signed a deal with a United States based firm, Atlanta […]

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Stowaways put Nigeria aviation security on the global spot

By Ifunanya / April 26, 2023

The recent discovery of a deceased stowaway in KLM flight from Lagos to Amsterdam highlights the need for improved security […]

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Seplat’s director, Fabian Ajogwu, resigns, cites ‘external interferences’

By Ifunanya / April 25, 2023

An Independent non-executive director of indigenous energy company, Seplat Plc, Professor Fabian Ajogwu, has resigned from the board of the […]

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Unilever appoints new MD

By Ifunanya / April 25, 2023

Fast-moving consumer goods manufacturer, Unilever Nigeria PLC, has announced the appointment of a new Managing Director, Tim Kleinebenne. This followed […]

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Blue economy offers Nigeria 350m jobs, other untapped opportunities

By Ifunanya / April 25, 2023

Bashir Jamoh, the Director-General of Nigerians Maritime Administration and Safety Agency has said the Blue economy offers Nigeria the opportunity […]

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SMEs adopt new survival strategies as economy slides further

By Ifunanya / April 25, 2023

The current economic climate is having a detrimental impact on small businesses, but they are not giving up easily. DEBORAH […]

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Otedola confirms acquisition of stakes in Transcorp

By Ifunanya / April 24, 2023

Billionaire businessman, Femi Otedola, has confirmed the acquisition of shares in the indigenous conglomerate, Transcorp Corporation Plc. In a tweet […]

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