African Business News

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

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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Customs exceeds 2024 target, rakes in N71.6bn

By Ifunanya / January 11, 2025

The Nigeria Customs Service, NCS, Murtala Muhammed International Airport Command, says it surpassed its revenue target for 2024, raking in […]

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Naira ends week with drop against dollar

By Ifunanya / January 10, 2025

The naira depreciated against the dollar to end the week on a negative note at the official foreign exchange market. […]

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CBN unveils Non-Resident Nigerian Ordinary Account to boost diaspora investments

By Ifunanya / January 10, 2025

The Central Bank of Nigeria has announced non-resident Nigerian ordinary accounts and non-resident Nigerian investment accounts for citizens in the […]

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Nigeria’s Accountant-General vows to tackle revenue shortfall, boost remittances

By Ifunanya / January 10, 2025

The Accountant General of the Federation, AGF, has vowed to tackle revenue shortfall in Nigeria through the introduction of aggressive […]

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Again AEDC announces power outage in Abuja, gives reason

By Ifunanya / January 10, 2025

The Abuja Electricity Distribution Company, AEDC, has announced another power outage in parts of the Federal Capital Territory, Abuja. The […]

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Investors rank in N792bn as stocks maintain bullish trend

By Ifunanya / January 10, 2025

Investors in the Nigerian Exchange Market raked in N792 billion in gains as stocks maintained a bullish trend on Thursday. […]

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Ghana, Egypt announce December inflation data as Nigeria awaits figure

By Ifunanya / January 10, 2025

Ghana and Egypt have announced their inflation figures for December 2024 as Nigeria awaits its own release. Samuel Kobina Annim, […]

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Naira appreciates against dollar first time this week

By Ifunanya / January 9, 2025

The naira appreciated against the dollar at the official foreign exchange market for the first time this week.FMDQ data showed […]

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Planned telecoms tariff hike will reduce inflation – Bismarck Rewane

By Ifunanya / January 9, 2025

The Chief Executive Officer of Financial Derivatives, Bismarck Rewane, has said the proposed tariff hike by telecommunications will help reduce […]

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TCN announces outage in Oyo over maintenance

By Ifunanya / January 9, 2025

The Transmission Company of Nigeria has announced that there will be an electricity disruption in parts of Oyo State on […]

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