African Business News

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

46197 sec blames forex scarcity for low foreign investments

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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52872 50 foreign vessels exit nigeria freight hike looms shipowners

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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52544 nans gives multichoice seven days to reverse dstv gotv hike

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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52415 fg us firm sign mou on 15bn rail project

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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50322 seplats notice of withdrawal on criminal charges fraudulent cso

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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222m Nigerians use telephones – NBS

By Ifunanya / April 24, 2023

There were 222.6 million telephone subscribers in Nigeria as at end of 2022, the National Bureau of Statistics has said. […]

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Nigeria’s indebtedness to World Bank now N6tn

By Ifunanya / April 24, 2023

Nigeria’s borrowing from the World Bank has risen by 121.46 per cent under the regime of the President, Major General […]

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51265 land use act promoting housing scam racketeering niesv

Land Use Act promoting housing scam, racketeering – NIESV

By Ifunanya / April 24, 2023

The Nigerian Institution of Estate Surveyors and Valuers, says the cumbersome procedure in obtaining a Certificate of Occupancy or governors […]

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