African Business News

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

Unions protest airport concession, sue minister, FAAN

By Ifunanya / March 17, 2023

Minister of Aviation, Hadi Sirika, during a State House Briefing in Aso Villa on Thursday Aviation workers’ unions have dragged […]

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Naira, fuel scarcity will push 24.8m Nigerians into crisis – Report

By Ifunanya / March 17, 2023

No fewer than 28.4 million Nigerians in 26 states and the Federal Capital Territory, including 18,000 Internally Displaced Persons, are […]

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Concerns over Nigeria’s inflation-free rise- Expert explains

By Ifunanya / March 16, 2023

Nigeria’s rising inflation rate has raised concerns among economic stakeholders and citizens at large. The country has witnessed its twelfth […]

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Fuel consumption hits 80million litres daily, subsidy skyrockets

By Ifunanya / March 16, 2023

The consumption of Premium Motor Spirit, popularly called petrol, has risen to about 80 million litres daily, pushing up subsidy […]

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SVB: CBN urges African regulators to avoid bank failure

By Ifunanya / March 16, 2023

Central Bank of Nigeria building The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has urged the governors […]

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Experts fault minister on 13million cyberattacks during polls

By Ifunanya / March 16, 2023

Minister of Communications and Digital Economy, Isa Pantami Cybersecurity experts have stated that the Federal Government’s claim that 12.99 million […]

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Nigeria’s inflation rate rises to 21.91%

By Ifunanya / March 15, 2023

The National Bureau of Statistics, NBS, said the country’s headline inflation rate rose to 21.91 per cent in February 2023 […]

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29893 ncc directs telcos to implement harmonised short codes

NCC directs telcos to implement harmonised short codes

By Ifunanya / March 15, 2023

The Nigerian Communication Commission has released harmonised shortcodes for mobile networks in the country. With this development, MTN, Airtel, Glo […]

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Debt crisis: Nigeria’s fuel subsidy heavily politicized – Financial expert laments

By Ifunanya / March 15, 2023

The Chief Executive Officer of CFG Advisory, Mr Tilewa Adebayo, has said the fuel subsidies removal has been heavily politicized […]

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Banks slash travel allowance, foreign school fees amid dollar scarcity

By Ifunanya / March 15, 2023

Nigerians woke up to not-too-good news on Tuesday as Deposit Money Banks and DMOs have pruned down the amount of […]

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BREAKING: Nigeria inflation rises to 21.91%

By Ifunanya / March 15, 2023

Nigeria inflation rate has risen to 21.91%, compared to January 2023 inflation rate which was 21.82%. The percentage represents a […]

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Ghana removes fuel subsidy

By Ifunanya / March 15, 2023

The Ghana National Petroleum Authority has announced removal of fuel subsidy in the country. The removal of the subsidy  is […]

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29528 ex commissioner urges tinubu to develop agric roadmap

Ex-commissioner urges Tinubu to develop agric roadmap

By Ifunanya / March 15, 2023

A former Ekiti State Commissioner for Agriculture, Dr Olabode Adetoyi, has urged Nigeria’s President-elect, Bola Tinubu, to develop a roadmap […]

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Nestle SA buys N90bn stake in Nigerian arm

By Ifunanya / March 15, 2023

Food and beverage company, Nestle South Africa, has acquired N90.29bn worth of shares in its Nigerian subsidiary (Nestlé Nigeria Plc). […]

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Abuja business owners, traders defy CBN, reject old N500, N1000

By Ifunanya / March 14, 2023

Business owners, traders and transporters in the Federal Capital Territory, Abuja, are defying the Central Bank of Nigeria’s directive on […]

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27495 four us banks lose 52bn in market value

Global banking stocks dip over Silicon Valley Bank collapse

By Ifunanya / March 14, 2023

The sudden collapse of Silicon Valley Bank on Friday and Signature Bank two days after has continued to rattle the […]

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JUST IN: Foreign airlines trapped funds hit $743m

By Ifunanya / March 14, 2023

The International Air Transport Association, on Tuesday, disclosed that the trapped funds belonging to foreign airlines operating in Nigeria have […]

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E-payment falls to N37tn as failed transaction mount

By Ifunanya / March 14, 2023

An increase in failed payment transactions in February caused a 4.83 per cent decrease in the value of cashless transactions […]

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Oil marketers reject old naira notes despite CBN directive

By Ifunanya / March 14, 2023

Oil marketers, on Monday, insisted that they were no more interested in the old naira notes and would not collect […]

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Nigerians to pay N1,000 NIN fee for passports

By Ifunanya / March 14, 2023

Nigerians applying for passports will be charged N1000 in Nigeria for the verification of their National Identification Number. The National […]

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