African Business News

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

4418 canadian property policy will boost nigerian market stakeholders

30% of Nigerian architects migrated to Canada – Experts

By Ifunanya / January 10, 2023

The Chief Executive Officer of Interstate Architects Limited, Olusegun Ladega, has claimed that about 30 per cent of architects migrated […]

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4497 bank stocks drop by n141bn

Bank stocks drop by N141bn

By Ifunanya / January 10, 2023

Despite the Nigerian capital market closing the year on a bullish trend, banking sector performance ended the year out of […]

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EFCC recovers N13bn illegal fuel subsidy payment

By Ifunanya / January 9, 2023

The Economic and Financial Crimes Commission, EFCC, recovered approximately N13bn as proceeds from illegal payments made under the subsidy regime […]

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

Nigeria’s debt profile to hit 77tn amid rising repayment burden – DMO

By Ifunanya / January 9, 2023

Nigeria’s total debt figure will jump to 77 trillion if the National Assembly reconsiders President Muhammadu Buhari’s request for N22.7 […]

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4446 2023 budget fuel subsidy payment to gulp n3 36tn in six months finance minister

2023 budget: Fuel subsidy payment to gulp N3.36tn in six months – Finance Minister

By Ifunanya / January 9, 2023

Fuel subsidies payment in Nigeria to gulp N3.36 trillion in the first six months of 2023. By implication, subsidy payment […]

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4416 oil production hits nine month high

Oil production hits nine-month high

By Ifunanya / January 9, 2023

The Nigerian Upstream Petroleum Regulatory Commission, on Sunday, revealed that crude oil production in Nigeria rose to 1.235 million barrels […]

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4418 canadian property policy will boost nigerian market stakeholders

Canadian property policy will boost Nigerian market – Stakeholders

By Ifunanya / January 9, 2023

Stakeholders have said that Canada’s decision to close its door to foreign property investors would positively impact the Nigerian real […]

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4287 mass disconnection looms over n96bn discos customers debts

Mass disconnection looms over N96bn DisCos customers’ debts

By Ifunanya / January 9, 2023

Following the N95.8 billion owed by customers, there are indications that all electricity distribution companies (DisCos) may embark on mass […]

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CBN cash withdrawal limit policy goes into effect nationwide

By Ifunanya / January 9, 2023

The Central Bank of Nigeria’s cash withdrawal limit policy for individuals and corporate entities will take effect today. Recall that […]

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4203 electricity consumers demand new tariff reversal

Electricity consumers demand new tariff reversal

By Ifunanya / January 9, 2023

The recent increase in electricity tariff by power distribution companies, as approved by the Nigerian Electricity Regulatory Commission, shows that […]

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port

Customs hike imported vehicle duty, agents protest

By Ifunanya / January 9, 2023

Freight forwarders have said there may be congestion of imported vehicles at the nation’s seaports following the Nigeria Customs Service’s […]

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47357 lagos ondo bayelsa lead states in rising inflation

Rising inflation, unemployment will persist – Report

By Ifunanya / January 9, 2023

A report by Money Africa has said that Nigerians need to get out of bad debts to survive the financial […]

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Nigeria’s power generation capacity in Q1 2022 drops to 4,712.34mw from 5,465.72mw Q4 2021 – NERC

By Ifunanya / January 8, 2023

Nigeria’s available power generation capacity in the First Quarter of 2022 decreased to 4,712.34MW from 5,465.72MW in the Fourth Quarter […]

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CBN

CBN clears air on Polaris Bank sales

By Ifunanya / January 8, 2023

The Central Bank of Nigeria, CBN, has denied claims making the round in some quarters that a higher offer was […]

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LCCI logo

ICT, manufacturing to lead economic growth – LCCI

By Ifunanya / January 8, 2023

The Lagos Chamber of Commerce and Industry has projected that the Information Communication Technology and the manufacturing sectors would be the […]

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11 DisCos collected N199.90bn customers’ bill in Q1 2022 – NERC

By Ifunanya / January 8, 2023

The 11 electricity distribution companies, DisCos, in Nigeria collected a total of N199.90 billion in customers’ bills in the first […]

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4059 eedc commences mobile map metering in anambra

EEDC commences mobile MAP metering in Anambra

By Ifunanya / January 8, 2023

The Enugu Electricity Distribution Company Plc (EEDC) has commenced a door-to-door mobile MAP metering to its customers in Anambra State, […]

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54729 estimated billing customers now six million

Unmetered electricity consumers hit 7.8 million

By Ifunanya / January 8, 2023

Nigeria earns N4.4bn from three-month power export The number of power consumers on estimated billing, who lack meters, has risen […]

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4015 why customs must be reformed freight forwarder

Why Customs must be reformed – Freight forwarder

By Ifunanya / January 8, 2023

Lawal Wasiu, the Chief Executive Officer of LWL Concepts Limited, a clearing and forwarding, and maritime logistics company, speaks with […]

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16112 Debt

N77tn debt not manageable, says OPS

By Ifunanya / January 8, 2023

The Lagos Chamber of Industry as well as the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture have […]

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