African Business News

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

IKEDC generates highest revenue in Q3, Q4 2022 -NBS

By Ifunanya / April 18, 2023

The National Bureau of Statistics has disclosed that the Ikeja Electricity Distribution Company had the highest electricity revenue for the […]

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NRC services debt with N111bn, generates N12bn – Report

By Ifunanya / April 18, 2023

Nigerian Railway Corporation The Federal Government has spent $247.98m (which amounts to N111.23bn using the Central Bank of Nigeria’s December […]

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Nigeria spent 96.3 per cent revenue in 2022 on debt servicing – World Bank

By Ifunanya / April 18, 2023

The Washington based-World Bank said Nigeria had spent 96.3 per cent of its 2022 revenue on debt servicing. Word Bank […]

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NNPCL has deepened investments in AKK, other gas utilisation projects – Kyari

By Ifunanya / April 18, 2023

The Nigeria National Petroleum Company Limited said it is strengthening investments in the Ajaokuta-Abuja-Kano (AKK) gas pipeline and OB3 gas […]

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51263 nigerias indebtedness to world bank now n6tn

Fuel subsidy: FG begins 40% pay rise for workers April ending

By Ifunanya / April 18, 2023

Barring any last-minute change of plans, the Federal Government will begin payment of the planned increase in civil servants’ pay […]

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Processors, farmers lament as foreign rice reappear in markets

By Ifunanya / April 17, 2023

Multiple brands of foreign rice from countries including Thailand and India have returned to markets in Kano, Jigawa, and Katsina […]

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Investment in modular refineries would stabilize Nigeria’s dwindling economy – Prof Ife

By Ifunanya / April 17, 2023

Prof Ken Ife, a development economist, says the federal government must invest in modular refineries to stabilize Nigeria’s economy. Ife […]

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Nigeria’s 96% revenue used to service debt in 2022 – World Bank

By Ifunanya / April 17, 2023

…says worsening economic environment leaving millions of Nigerians in poverty The World Bank says Nigeria’s constant fiscal deficit has worsened […]

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Banana Island building: LASEMA accident’s claim false, say builders

By Ifunanya / April 17, 2023

Experts in the built environment have said the accidental collision of a truck cannot trigger a total collapse of a […]

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CBN approves George-Taylor as new CEO Heritage Bank

By Ifunanya / April 16, 2023

The Board of Directors of Heritage Bank has announced Mr Akinola George-Taylor as the substantive Managing Director/Chief Executive Officer of […]

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Cashless Policy promotes banking services for MSMEs – CBN

By Ifunanya / April 16, 2023

The Central Bank of Nigeria has stressed that despite the challenges with the country’s banking infrastructure, the cashless policy will […]

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Nigeria’s inflation rises by 0.13%

By Ifunanya / April 16, 2023

Nigeria’s March inflation rate rose to 22.04 per cent from 21.91 per cent in February 2023, according to the National […]

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IMF lists reasons for Nigeria, others, low FDI

By Ifunanya / April 16, 2023

The International Monetary Fund says the recent slowdown witnessed in Foreign Direct Investment, especially in developing countries can be linked […]

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Cashless policy will boost MSME loans – CBN

By Ifunanya / April 16, 2023

The Central Bank of Nigeria and stakeholders in the financial services sector have said a robust cashless policy system is […]

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SEC blames forex scarcity for low Foreign Direct Investments in Nigeria

By Ifunanya / April 15, 2023

Securities and Exchange Commission, SEC, has said the lack of foreign exchange should be blamed for low Foreign Portfolio investments […]

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SEC blames forex scarcity for low foreign investments

By Ifunanya / April 15, 2023

The Director-General of the Securities and Exchange Commission, Lamido Yuguda, has blamed the dwindling level of Foreign Portfolio Investments in […]

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FG eyes more revenue as US increases crude purchase

By Ifunanya / April 15, 2023

The United States has resumed huge crude oil importation from Nigeria, increasing the country’s oil revenue by N156bn last month, […]

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Growth rate of sub-Saharan Africa to slows by 3.6 per cent – World Bank

By Ifunanya / April 14, 2023

The World Bank has said the growth rate of Sub-Saharan Africa would slow by 3.6 per cent in 2023 as […]

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United Nigeria Airlines gets IOSA certification

By Ifunanya / April 14, 2023

A Nigerian carrier, United Nigeria Airlines, says it has been registered as an Operational Safety Audit Programme operator under the […]

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Nigeria, other developing countries can achieve 10 per cent economic growth – World Bank

By Ifunanya / April 14, 2023

The World Bank has said that Nigeria and other developing countries can achieve a 10 per cent growth rate like […]

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