IMF Report: Industrial Policy Pitfalls and the Impact of Subsidies
The International Monetary Fund (IMF) has issued a warning against the detrimental effects of poorly implemented electricity subsidies, tax breaks, […]
African Business News
Stay updated with the latest African business news, including market trends, economic updates, and insights into industries across the continent.
Air Peace Faces Tough Competition on London Route Amid Currency Recovery
Air Peace’s entry into the Nigeria-London route has sparked intense competition with foreign airlines, leading to a price war that
Air Peace Strategy: Financial Analyst Recommends Loyalty Program to Beat Foreign Airlines in Lagos-London Fare Route
Financial analyst Kalu Aja has proposed a strategic solution for Allen Onyema’s Air Peace to outmaneuver foreign airlines in the
Nigeria’s Bonny Light Crude Oil Surges to $87.86 Amid Middle East Tensions
Nigeria’s Bonny Light crude oil prices have seen a significant increase, reaching $87.86 per barrel in March 2024, up from
ABCON Urges CBN to Ban Non-Oil Exporters from Official FX Market
The Association of Bureau De Change Operators of Nigeria, ABCON, has called on the Central Bank of Nigeria, CBN, to
Nigeria’s Inflation Rate to Rise to 32.65% in March 2024, CAPE Economic Research Report
Nigeria’s Inflation Rate Set to Rise in March 2024 As Nigeria braces for the release of its inflation rate for
African Business News
CBN Excludes Banks’ Retained Earnings in New Capital Requirement for Financial System Strengthening
The Central Bank of Nigeria (CBN) has made a bold move to strengthen the country’s financial system by increasing the
Minister Umahi Clarifies Lagos-Calabar Coastal Highway Cost at N4bn/km
Minister of Works, David Umahi, has clarified the cost of the Lagos-Calabar coastal highway project, refuting claims made by former
Nigeria’s Electricity Supply Surges by 14.64% in Q4 2023, Minister Blames Gas Constraints
Nigeria’s electricity supply saw a significant increase of 14.64% in the fourth quarter of 2023 compared to the previous year,
NESI Reports Decrease in Unmetered Electricity Customers in Q4 2023
In the Nigerian electricity supply industry, the number of unmetered electricity customers has decreased to 5.83 million in the fourth
Federal Government to Save N1.5tn with Electricity Tariff Adjustment
The Federal Government of Nigeria has recently made significant changes to the electricity tariff structure in an effort to improve
Global Financial Stability Report: IMF Warns of $12 Billion Cyberattack Losses
The International Monetary Fund (IMF) has recently released a startling report revealing that financial institutions worldwide have suffered staggering losses