African Business News

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

Untamed inflation: Nigerian workers eye 50% wage increase

By Ifunanya / January 15, 2025

Nigerian workers have again demanded at least 50 percent wage increase from the President Bola Ahmed Tinubu government to cushion […]

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Naira appreciates against dollar on black market

By Ifunanya / January 15, 2025

The naira appreciated against the dollar at the parallel foreign exchange market on Tuesday.A Bureau de Change operator in Wuse […]

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CBN fines 9 banks N150m each over scarcity of cash in ATMs

By Ifunanya / January 14, 2025

The Central Bank of Nigeria, CBN, has issued fines to at least nine Deposit Money Banks for failing to ensure […]

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Nigeria Customs grants N1.6trn waivers in 2024

By Ifunanya / January 14, 2025

The Nigeria Customs Service has said it granted concessions totalling N1.6 trillion to several sectors of the economy in 2024 […]

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2025 budget: NHRC highlights funding constraints as over 2 million complaints strain resources

2025 budget: NHRC highlights funding constraints as over 2 million complaints strain resources

By Ifunanya / January 14, 2025

The National Human Rights Commission, NHRC, has urged the National Assembly to approve a significant increase in its 2025 budget […]

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Senate rejects Information Ministry’s 2025 budget, summons Minister Idris

By Ifunanya / January 14, 2025

The National Assembly has stepped down the 2025 budget for the Ministry of Information and National Orientation. Chairman, Senate Committee […]

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BREAKING: Customs revenue increased by 90.4%, hit N6.1trn in 2024 - CG, Adeniyi

BREAKING: Customs revenue increased by 90.4%, hit N6.1trn in 2024 – CG, Adeniyi

By Ifunanya / January 14, 2025

The Comptroller General of the Nigeria Customs Service, Bashir Adeniyi, said the service collected N6.1 trillion in revenue in 2024, […]

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Telcos, ICT firms owe Nigerian banks N1.69tn as calls, data tariffs loom

By Ifunanya / January 14, 2025

Nigeria’s information, communication, and technology firms, including telecommunications companies in Nigeria, owed deposit money banks N1.69 trillion as of September […]

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Nigerian government announces two savings bond offers

Nigerian government announces two savings bond offers

By Ifunanya / January 14, 2025

Nigerian government through the Debt Management Office has announced two savings bond offers. The first one is a two-year bond […]

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Depots increase petrol price in Nigeria

Depots increase petrol price in Nigeria

By Ifunanya / January 14, 2025

Major petroleum products depots in Nigeria on Monday adjusted their landing cost of premium motor spirit and other petroleum products. […]

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NASS constitutes panel to probe N4trn revenue shortfall

By Ifunanya / January 13, 2025

The National Assembly Joint Committee on Finance has constituted a special committee to probe a shortfall of over N4 trillion […]

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Naira stumbles further against dollar

By Ifunanya / January 13, 2025

The naira continued its decline against the dollar at the official foreign exchange market on Monday. FMDQ data showed that […]

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Electricity: Nigerian Govt announces transfer of regulatory oversight to 10 states

By Ifunanya / January 13, 2025

The Nigerian government has announced that it has commenced the transfer of regulatory oversight of the electricity supply industry to […]

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Nigeria’s crude oil production increases — OPEC

By Ifunanya / January 13, 2025

Nigeria’s daily average oil production rose by 152,000 barrels per day last November 2024.This is according to data sourced from […]

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Obaigbena’s GHL replies to FBN as fight with Otedola deepens

By Ifunanya / January 13, 2025

The end is yet to be heard in the crisis between Femi Otedola and media baron, Nduka Obaigbena, as General […]

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Windfall tax: Nigerian banks dare FG over remittance

By Ifunanya / January 13, 2025

Nigerian banks and the federal government, through the Federal Inland Revenue Service, have been enmeshed in disagreement over how much […]

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Lagos govt announces deadline for filing of 2024 annual tax returns

By Ifunanya / January 12, 2025

The Lagos State Internal Revenue Service has announced January 31, 2025, as the deadline for filing 2024 annual tax returns. […]

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Nigeria attracts $7.6bn investment commitments in Africa’s forum – Adesina

By Ifunanya / January 12, 2025

African Development Bank president Akinwumi Adesina said Nigeria has attracted $7.6 billion in investment interests at the Africa Investment Forum […]

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FG, 21 states eye N2.5tn VAT revenue in 2025

By Ifunanya / January 12, 2025

Nigeria’s federal government and 21 out of the 36 states in the federation have targeted a combined Value Added Tax […]

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Why Nigeria’s 2022 Financial Statement is delayed – AGF

By Ifunanya / January 12, 2025

Nigeria’s Accountant General of the Federation, Oluwatoyin Madein, has explained that its Consolidated Financial Statement for 2022 has been delayed […]

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