African Business News

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

4444 nigerias debt profile to hit 77tn amid rising repayment burden dmo

Nigeria’s debt stock increases by 6.69trn in 1 year

By Ifunanya / March 31, 2023

Nigeria’s total public debt stock increased to N46.25 trillion or $103.11 billion as of December 2022, representing a N6.69 trillion […]

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Controversy surrounds Sylva’s alleged resignation

By Ifunanya / March 31, 2023

Minister of State for Petroleum, Timipre Sylva There were claims, on Thursday, that the Minister of State for Petroleum Resources, […]

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Nigerians buy one million air conditioners annually, says UN

By Ifunanya / March 31, 2023

Nigeria must not be a dumping ground for air conditioners and refrigerators with energy efficiency ratio that are below internationally […]

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Banking system best option to safeguard your funds – NDIC to Nigerians

By Ifunanya / March 31, 2023

The Nigeria Deposit Insurance Corporation, NDIC has reiterated its call to members of the public, particularly, the Medium, Small and […]

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37981 isuzu to increase market share in nigeria

Isuzu to increase market share in Nigeria

By Ifunanya / March 30, 2023

The Deputy President and Executive Vice President, Isuzu Motors International, Hirokazu Maruyama, has revealed plans to increase its market share […]

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Ecobank grows PBT by 13% to $540m

By Ifunanya / March 30, 2023

The Ecobank Group grew its profit before tax by 13 per cent to $540m in the 2022 financial year. This […]

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Subsidy removal: Invest N12trn in Nigeria’s fuel refining capacity – PETROAN Boss, Gillis-Harry

By Ifunanya / March 30, 2023

Dr Billy Gillis-Harry, the national president of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), has asked the […]

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37848 fuel subsidy removal wasteful if importation persists onovo

Fuel subsidy removal wasteful if importation persists – Onovo

By Ifunanya / March 30, 2023

Martin Onovo, a petroleum engineer and the National Conscience Party presidential candidate during the 2015 election, said that fuel subsidy […]

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NICA inaugurates governance committees

By Ifunanya / March 30, 2023

The President of the National Institute of Credit Administration, Mr Andy Ojei, has announced the inauguration of committees set up […]

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64.3million Nigerians lack adequate food, says UN

By Ifunanya / March 30, 2023

Thirty-two per cent (64.3 million) of Nigerians do not have enough food to consume, the World Food Programme, an organisation […]

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Domestic airfare decreased slightly by 0.18% in February – NBS

By Ifunanya / March 29, 2023

According to the National Bureau of Statistics’ recent report, domestic air transport fares decreased slightly by 0.18 per cent in […]

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NDDC adopts new youth development scheme

By Ifunanya / March 29, 2023

The Niger Delta Development Commission says it has developed a new concept of working with the Niger Delta Chamber of […]

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Rising cyberattacks threatening digital economy – Minister

By Ifunanya / March 29, 2023

Minister of Communications and Digital Economy, Isa Pantami The Minister of Communications and Digital Economy, Isa Pantami, has stated that […]

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Commodity trading firm redeems N5.7bn commercial papers

By Ifunanya / March 28, 2023

A commodities export and trading company, Neveah Limited, has redeemed its series 3 and 4 commercial papers at maturity, totalling […]

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Currency swap: Naira drops against dollar

By Ifunanya / March 28, 2023

The Naira depreciated against the dollar, exchanging N461.50 at the investors’ and exporters’ window on Monday. The rate represented a […]

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Nigeria’s economy may experience constraints in second quarter – Experts

By Ifunanya / March 28, 2023

The former President of Chartered Institute of Bankers of Nigeria, CIBN, Prof Segun Ajibola, in an interview with Media Talk […]

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Poor corporate governance worsens small business woes

By Ifunanya / March 28, 2023

Many small businesses struggle to survive in harsh operating environments. Their non-adherence to corporate governance has compounded their situation. DEBORAH […]

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Reps invite ministers, firms over $2.4bn oil sale

By Ifunanya / March 28, 2023

The House of Representatives’ will on April 11, 2023, grill ministers and other heads of ministries, departments and agencies of […]

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Kaduna bank customers now able to withdraw 50,000 Naira across counter

By Ifunanya / March 27, 2023

Customers flooded commercial banks in Kaduna on Monday, making withdrawals, following the Central Bank directives to all commercial banks to […]

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Global economy speed slowed by COVID-19, Russia-Ukraine war – World Bank

By Ifunanya / March 27, 2023

The “speed limit” of the global economy is set to slump to a three-decade low by 2030, a new World […]

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