African Business News

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

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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Akwa Ibom: Group hails FG for imposing sanctions on gas flaring companies

By Ifunanya / April 14, 2023

Akwa Ibom Oil Producing Development Network, a non-governmental organization committed to environmental justice in the state, has commended the federal […]

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Two million businesses died from 2017 to 2021 – SMEDAN

By Ifunanya / April 14, 2023

The Director-General, Small and Medium Enterprises Development Agency (SMEDAN), Olawale Fasanya, has lamented that between 2017 to 2021 alone, over […]

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Fuel subsidy, oil theft gulped N29tn, says FG

By Ifunanya / April 14, 2023

The Federal Government, on Thursday, said the amount spent on subsidising Premium Motor Spirit, popularly called petrol, between 2005 and […]

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Eight years after, FG farmers’ scheme fails as agro smuggling persists

By Ifunanya / April 14, 2023

The Central Bank of Nigeria has invested heavily in the agricultural sector in the last eight years to reduce food […]

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FG spent N50bn on 2m vulnerable Nigerians in 2022

By Ifunanya / April 13, 2023

The Federal Government said it had spent N50 billion on vulnerable Nigerians under the National Poverty Reduction with Growth Strategy […]

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$3.7bn committed to tackling global food crisis in March

By Ifunanya / April 13, 2023

The International Monetary Fund committed $3.7 billion as of March 2023 to address the global food crisis. The IMF disclosed […]

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Bankrupt FTX mulls reopening as recovered assets hit $7.3bn

By Ifunanya / April 13, 2023

Bankrupt cryptocurrency exchange, FTX, is considering reopening at some point in the future, its lawyers from Sullivan & Cromwell, said […]

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Uncertainty as govt battles to meet aviation roadmap target

By Ifunanya / April 13, 2023

As the current government winds down, it is making spirited efforts to meet the 2023 aviation roadmap target, LILIAN UKAGWU […]

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Seplat provides FG required documents in immigration suit

By Ifunanya / April 13, 2023

Energy company, Seplat, has said that it has provided the necessary documentation about its Chief Executive Officer, Roger Brown, to […]

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FG approves N23bn for Third Mainland Bridge maintenance, others

By Ifunanya / April 13, 2023

The Federal Government, on Wednesday, approved the total sum of N23.33bn for surface maintenance of the Third Mainland Bridge, Lagos […]

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Local bourse closes flat after bearish trend

By Ifunanya / April 13, 2023

After days of bearish trading, the Nigerian Exchange Limited closed flat on Wednesday. At the end of the trading, the […]

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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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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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