African Business News

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

DMO floats four N360bn FGN bonds for subscription

By Ifunanya / April 12, 2023

The Debt Management Office, DMO, has listed four Federal Government of Nigeria Bonds worth N360 billion for subscription at N1,000 […]

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Nigeria flared 59.3SCF gas valued at N81bn in two months

By Ifunanya / April 12, 2023

The federal government has said 50.3 Standard Cubic Feet of gas valued at N81 billion Naira ($176 million) was lost […]

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20320 IMF1

IMF, COP28 President-designate name for motion on local weather finance

By Ifunanya / April 12, 2023

The Worldwide Financial Fund, COP28 President-Designate and UN Particular Envoy for Local weather Motion and Finance have known as for […]

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44544 lagos plateau mop up 450000 eggs to address glut in poultry sector

Lagos, Plateau mop up 450,000 eggs to handle glut in poultry sector

By Ifunanya / April 12, 2023

The Lagos and Plateau states’ governments have facilitated the mop-up of no fewer than 450,000 eggs to handle the current […]

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44370 mortgage bank appoints new independent director

Mortgage bank appoints new independent director

By Ifunanya / April 12, 2023

Infinity Trust Mortgage Bank’s Board of Directors has appointed Olufemi Fabanwo as an independent non-executive director of the bank. This […]

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15465 NIMASA

Mass promotion in NIMASA

By Ifunanya / April 12, 2023

The Governing Board of the Nigerian Maritime Administration and Safety Agency has approved the appointment of Mrs Olubusola Obasanjo-Akande and […]

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43982 22 nigerian tertiary institutions get n5bn grant

BUA gives 22 Nigerian tertiary institutions N5bn grant

By Ifunanya / April 11, 2023

Twenty-two tertiary institutions have secured a N5.5 billion grant from the Abdul Samad Rabiu Africa initiative. ASR Africa is an […]

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Motorcycles importation falls by 41 per cent to N212.6 amid ban in city centres – NBS

By Ifunanya / April 11, 2023

Nigeria’s spending on the importation of motorcycles fell to N212.64 billion in 2022, representing a 42 per cent increase from […]

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Fuel subsidy: Controversy over $800m World Bank loan to Nigeria

By Ifunanya / April 11, 2023

Nigeria’s economy has been laced with confusion and anxiety over the World Bank’s $800 million loan to the country as […]

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43937 port reconstruction will cost 800m says npa boss

Port reconstruction will cost $800m, says NPA boss

By Ifunanya / April 11, 2023

The Managing Director of the Nigerian Ports Authority, Mohammed Bello-Koko, has explained why the agency may be spending up to […]

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Nigerian unemployment rate to hit 41% in 2023 – KPMG

By Ifunanya / April 11, 2023

KPMG has stated that the Nigerian unemployment rate had increased to 37.7per cent in 2022 and will further rise to […]

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Fuel subsidy removal antidote to Nigeria’s N44trn debt burden

By Ifunanya / April 10, 2023

The CEO of SD & D Capital Management, Mr Idakolo Gbolade, said fuel subsidy removal would help reduce Nigeria’s N44.25 […]

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36724 china exim bank declines to grant fg 22 8bn loan

FG bars online banks from accessing customers’ photos, contacts

By Ifunanya / April 10, 2023

Loan apps on Play Store will lose their ability to access their users’ contacts or photos from May 31, 2023. […]

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Subsidy removal: Marketers plan 30,000 gas stations, seek CBN loans

By Ifunanya / April 10, 2023

Gas stations to cushion subsidy removal effect as PMS may sell for N750/litre NARTO wants end to subsidy, NLC to […]

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43370 ncdmb female engineers empower girls

NCDMB, female engineers empower girls

By Ifunanya / April 10, 2023

The Nigerian Content Development and Monitoring Board says it has collaborated with the Association of Professional Women Engineers of Nigeria […]

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Nigeria spent N3.36trn on debt servicing in 2022 – DMO

By Ifunanya / April 9, 2023

Data from the Debt Management Office, DMO, has shown that Nigeria’s debt servicing increased by 14.68 per cent to N3.36 […]

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Debt servicing rose by 14.68% in 2022 – DMO

By Ifunanya / April 9, 2023

DG, Debt Management Office, Patience Oniha Nigeria’s debt servicing bill went up by 14.68 per cent to N3.36trn in 2022, […]

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85% of imported vehicles vandalised, agents allege

By Ifunanya / April 9, 2023

Clearing agents operating in the country’s maritime industry have said that 85 per cent of imported used vehicles were vandalised […]

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Consider cross-border expansions, diversification – Expert to Nigerian Banks

By Ifunanya / April 8, 2023

A financial expert has advised Nigerian banks to look into diversifying their earnings by adopting Holdco structures amid the hawkish […]

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ASSOPEP has no affiliation with pension industry — PenCom

By Ifunanya / April 8, 2023

The National Pension Commission has warned the public to be mindful of the activities of the Association of Pension Desk […]

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