Nigerian Minister of Power Vows Sanctions for DisCos Failing to Provide 20 Hours of Electricity
The Minister of Power in Nigeria, Adebayo Adelabu, has made it clear that the government will not tolerate any electricity […]
African Business News
Stay updated with the latest African business news, including market trends, economic updates, and insights into industries across the continent.
Nigerian Treasury Bills and Bonds Used to Settle Central Bank Advances
The Nigerian government has utilized funds from Nigerian Treasury Bills and Bonds issued in 2024 to settle Ways and Means
2023 Nigerian Banks Operating Expenses Surge by 42.51% to N3.23tn: Personnel Costs & Inflationary Pressure Key Drivers
Operating expenses for 10 Nigerian banks surged by 42.51% in 2023, reaching N3.23tn compared to N2.26tn the previous year, as
NSE Urges NERC to Impose Sanctions on DisCos for Failing Service Delivery
The Nigerian Society of Engineers (NSE) is calling for strict penalties to be imposed on Electricity Distribution Companies (DisCos) that
Addressing Inequality in Sub-Saharan Africa: World Bank’s Call for Policy Action
The World Bank has recently highlighted the persistent issue of inequality in Sub-Saharan Africa, ranking it as one of the
Africa’s Economic Growth Projections: World Bank Forecasts 3.4% Growth in 2024 and 3.8% in 2025
The World Bank has forecasted a positive outlook for Nigeria and other African economies, with growth expected to reach 3.4
Nigerians Suffer as Electricity Tariff Hike Worsens Hardship
President Bola Ahmed Tinubu has remained silent as Nigerians face a 240 per cent increase in electricity tariffs, adding to
African Business News
EFCC Warns Against Dollar Transactions in Nigeria, Threatens Jail for Offenders
The Economic and Financial Crimes Commission (EFCC) has issued a stern warning to businesses in Nigeria, including schools, supermarkets, hotels,
Naira Gains Ground Against Dollar as CBN Boosts Currency Defense
The Nigerian naira has been on a winning streak against the US dollar, with the Central Bank of Nigeria stepping
Customs generates N45.23bn from Lagos airport in 2024 Q1
Seizes donkey genitals, live ammunition, others April 8, 2024 The Muritala Muhammed Airport Command (MMA), Lagos, of the Muritala Muhammed
African Business News
CBN Prohibits Foreign Currency Collaterals for Naira Loans in Nigerian Banks
The Central Bank of Nigeria (CBN) has made a significant move to strengthen the Naira by prohibiting the use of
Emirates Airline to Resume Operations in Nigeria by June 2024: Minister Keyamo
Emirates Airline Set to Resume Operations in Nigeria by June 2024 The Minister of Aviation and Aerospace Development, Festus Keyamo,