African Business News

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

FCMB Group Plc Announces Successful Completion of its Public Offer, raises ₦147.5 billion with 33% oversubscription

By Ifunanya / December 30, 2024

FCMB Group Plc (“FCMB Group” or the “Group”), a leading financial services group, is pleased to announce the successful completion […]

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Tinubu has the final say' — NNPC breaks silence on Mele Kyari's exit

Tinubu has the final say’ — NNPC breaks silence on Mele Kyari’s exit

By Ifunanya / December 30, 2024

The Nigerian National Petroleum Company has said that President Bola Ahmed Tinubu has the final say on the purported exit […]

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Nigeria receives W’Bank $1.5bn loan for subsidy removal, tax reforms

By Ifunanya / December 30, 2024

The Washington-based World Bank has disbursed a $1.5 billion foreign loan to Nigeria as part of the federal government’s effort […]

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Nigeria’s inflation rate may moderate in 2025 – CPPE

By Ifunanya / December 29, 2024

The Centre for the Promotion of Private Enterprise, CPPE, says Nigeria’s inflation may moderate slightly in 2025. The Executive Director […]

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Naira to depreciate to N1,804 per dollar in 2025 – Report

By Ifunanya / December 29, 2024

The Nigerian Naira has been projected to depreciate to N1,804 per dollar fair value at the official market in 2025. […]

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Inefficiencies reason for investment loss in Nigeria, others - W'bank

Inefficiencies reason for investment loss in Nigeria, others – W’bank

By Ifunanya / December 29, 2024

The Washington-based World Bank has revealed that inefficiencies in public spending are costing Nigeria and other developing nations a significant […]

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Naira appreciates against dollar after Christmas holidays

By Ifunanya / December 27, 2024

The naira appreciated against the dollar at the foreign exchange market upon resumption of work after the Christmas holidays. FMDQ […]

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China, Nigeria renew currency swap agreement

By Ifunanya / December 27, 2024

China’s central bank revealed on Friday that it has renewed a bilateral currency swap agreement with its counterpart in Nigeria, […]

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Strive to build fair, transparent capital market – SEC DG to stakeholders

By Ifunanya / December 27, 2024

The Director General, Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has advised shareholders in the capital market to strive […]

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Nigeria's FX turnover surges to N23.95tn

Nigeria’s FX turnover surges to N23.95tn

By Ifunanya / December 27, 2024

The total foreign exchange market turnover increased to $14.39 billion (N23.95 trillion) at the end of November 2024. This is […]

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Real reason fuel price was reduced to N899/litre — Dangote

By Ifunanya / December 26, 2024

President of Dangote Group, Aliko Dangote, has explained that the reduction in the price of petrol from his refinery was […]

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FCT-IRS records N252.83bn from internally generated revenue in 2024

By Ifunanya / December 26, 2024

The Federal Capital Territory Internal Revenue Service (FCT-IRS) has announced a record collection of N252.83 billion in Internally Generated Revenue […]

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2025: 5 percent inflation rate possible in Nigeria with $50bn FDI – Teriba

By Ifunanya / December 26, 2024

Popular Nigerian economist and Chief Executive of Economic Associates (EA), Ayo Teriba, says it is possible to bring Nigeria’s inflation […]

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FG spent N8.73bn on power supply for Nnamdi Azikiwe Int'l Airport, Abuja — Report

FG spent N8.73bn on power supply for Nnamdi Azikiwe Int’l Airport, Abuja — Report

By Ifunanya / December 25, 2024

The Federal Government of Nigeria spent N8.73 billion on airport power infrastructure in 2024, according to BudgIT’s report. The expenditure […]

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Christmas: FG subsidized transport cost for 144 routes, secured roads – Tinubu

By Ifunanya / December 25, 2024

President Bola Tinubu has disclosed that his administration has subsidized road transport costs on 144 routes across Nigeria during the […]

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Christmas: Naira strengthens against dollar on black market

By Ifunanya / December 24, 2024

The naira strengthened marginally against the dollar in the parallel foreign exchange market on Tuesday, Christmas Eve. A Bureau de […]

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Again NNPCL reduces fuel price

By Ifunanya / December 24, 2024

The Nigerian National Petroleum Company Limited, NNPCL, has again reduced its retail price for Premium Motor Spirit, PMS, to N965 […]

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Firm condemns Nigerian Govt’s approval of Shell’s $2.4bn divestment

By Ifunanya / December 24, 2024

A Nigerian oil firm, Global Gas and Refining Limited, has condemned the Federal Government’s approval of Shell Petroleum Development Company’s […]

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Nigeria moving forward regardless of critics - Tinubu

Nigeria moving forward regardless of critics – Tinubu

By Ifunanya / December 24, 2024

President Bola Ahmed Tinubu has said that Nigeria is moving forward regardless of critics of his economic policies. Tinubu disclosed […]

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Marketers upbeat on further fuel price cut as Tinubu stamps subsidy removal

By Ifunanya / December 24, 2024

Nigeria’s oil marketers are upbeat on a further petrol price cut from between N935 and N965 per litre nationwide. This […]

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