African Business News

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

19313 NBS

Inflation soars to 21.82% amid naira redesign

By Ifunanya / February 16, 2023

Nigeria’s inflation soared to 21.82 per cent in January 2023, according to the National Bureau of Statistics. This is amid […]

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19317 OPEC headquarters e1478869133708

Nigeria’s daily oil production rises to 1.235 million barrels

By Ifunanya / February 16, 2023

Nigeria’s oil production increased month-on-month by 1.9 per cent from 1.235 million barrels per day recorded in December 2022 to […]

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11601 1c5dda97 6f86 4f7e afd3 45ca6aebfb8c

Cash-induced recession imminent – Experts warn as naira scarcity persists

By Ifunanya / February 15, 2023

As the naira scarcity lingers with its attendant effect on Nigerians, financial experts have warned that the country may slip […]

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Rehabilitation of refineries will reduce fuel scarcity –NNPC

By Ifunanya / February 15, 2023

The Nigerian National Petroleum Company Limited has said it plans to reduce fuel scarcity and increase dependence on natural gas […]

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19196 Ganduje

Kano traders, okada riders defy Ganduje’s order on old notes

By Ifunanya / February 15, 2023

Kano State Governor, Abdullahi Ganduje There was confusion in Kano on Wednesday as traders and commercial tricycle operators rejected the […]

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30454 concerns over nigerias inflation free rise expert explains

Nigeria’s inflation hits 21.82 percent

By Ifunanya / February 15, 2023

Nigeria’s January inflation figure rose from 21.34 per cent in December to 21.82 per cent in January, according to National […]

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16881 naira swap nigerians react as supreme court suspends cbns feb 10 deadline

CBN: How naira scarcity can be resolved – Financial expert

By Ifunanya / February 15, 2023

Nigerians have continued to experience scarcity of the naira notes since the January 31 deadline issued by the Central Bank […]

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Minister rejects proposal seeking to establish new agencies

By Ifunanya / February 15, 2023

Minister of Finance, Budget and National Planning, Zainab Ahmed A proposal for the creation of new agencies to monitor and […]

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19090 Kainji Hydropower Plant

Power consumers condemn Discos’ double-revenue target amidst tariff hike

By Ifunanya / February 15, 2023

With the newly increased electricity tariffs and stable market indices, the income of the electricity distribution companies may swell in […]

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24529 naira loses further at official market amid currency scarcity

Currency swap: Naira begins new week on positive note, appreciates marginally against dollar

By Ifunanya / February 15, 2023

The Naira on Monday exchanged at N461 to the dollar at the Investors and Exporters window. The number represented an […]

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11413 locals reject old naira as scarcity of new notes hits kaduna

Banks reject old naira notes in Ilorin

By Ifunanya / February 15, 2023

Commercial banks in Ilorin, the Kwara State capital, are rejecting old naira notes from customers despite an order of the […]

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18960 Opaluwah

Sanctions best option to tackling building collapse – Registered builders chair

By Ifunanya / February 15, 2023

The Chairman of the Council of Registered Builders of Nigeria, Samson Opaluwah, in an interview with DAMILOLA AINA, speaks on […]

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12042 Godwin Emefiele

New naira: POS agents charging above N200 will be jailed – CBN

By Ifunanya / February 15, 2023

CBN Governor, Godwin Emefiele The Governor of the Central Bank of Nigeria, Godwin Emefiele, has said that Point of Sale […]

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18859 old naira notes no longer legal tender cbn defies supreme court

Coalition fumes as commercial banks reject old Naira notes

By Ifunanya / February 14, 2023

The Coalition of South East Youth Leaders, COSEYL, has condemned the move by commercial banks in the country to reject […]

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Naira redesign: CSO accuses APC governors of plotting to cause chaos in Nigeria

By Ifunanya / February 14, 2023

A group known as Civil Society Organization has accused governors of the All Progressives Party, APC, of plotting to cause […]

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110 companies under investigation for data breaches – NDPB

By Ifunanya / February 14, 2023

The Nigeria Data Protection Bureau has said that it is presently investigating over 110 companies in Nigeria over allegations of […]

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12442 DMO

DMO raises N724.9bn in February bond auction

By Ifunanya / February 14, 2023

Director-General, Debt Management Office, Patience Oniha …increases by 100% The Debt Management Office has announced that it raised N724.9 billion […]

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18737 Floating LNG platform

Nigeria targets 16.2mn tonnes of LNG exports

By Ifunanya / February 14, 2023

A floating LNG platform. Web image Nigeria targets 16.2mn tonnes of LNG exports Nigeria is aiming to export 16.2 million […]

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18741 mining miners e1475169468484

Miners demand compensation over land take-over

By Ifunanya / February 14, 2023

The Mining Entrepreneurship Stakeholders have implored the Federal Government to hasten the payment of compensation for taking over a business […]

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15040 WhatsApp Image 2022 11 23 at 11.20.34 AM 1

New naira: Use alternative payment methods, CBN tells Nigerians

By Ifunanya / February 14, 2023

The Central Bank of Nigeria has implored Nigerians to make use of the eNaira and Internet banking as alternatives to […]

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