African Business News

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

Fuel price drop will not change anything, Nigerians are exhausted – Shehu Sani

By Ifunanya / December 19, 2024

The former senator representing Kaduna Central, Shehu Sani has said Nigerians are so exhausted with the country’s situation to the […]

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Nigerian govt transfers regulatory oversight of electricity to Lagos

By Ifunanya / December 19, 2024

The Nigerian government has transferred regulatory oversight of the electricity market to the Lagos State Electricity Regulatory Commission, LASERC. The […]

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BREAKING: Dangote Refinery reduces petrol price

BREAKING: Dangote Refinery reduces petrol price

By Ifunanya / December 19, 2024

Dangote Refinery has announced another reduction in the price of Premium Motor Spirit, PMS, or petrol. The company disclosed this […]

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Knocks, kudos trail Tinubu's N49.7trn 2025 budget proposal

Knocks, kudos trail Tinubu’s N49.7trn 2025 budget proposal

By Ifunanya / December 19, 2024

Mixed reactions have trailed President Bola Ahmed Tinubu’s N49.7 trillion 2025 budget proposal to the National Assembly on Wednesday. Media […]

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Nigeria Customs gives conditions for implementation of zero tariffs on CNG, LPG

Nigeria Customs gives conditions for implementation of zero tariffs on CNG, LPG

By Ifunanya / December 19, 2024

The Nigeria Customs Service said importers of gas-related equipment must present a letter of Import Duty Exemption Certificate (IDEC) from […]

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Naira further appreciates against dollar on black market

By Ifunanya / December 18, 2024

The naira further firmed up against the dollar on Wednesday on the parallel foreign exchange market. Alhasan Abubakar, a Bureau […]

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Dangote Refinery, NNPCL resume fight over $1bn loan

Dangote Refinery, NNPCL resume fight over $1bn loan

By Ifunanya / December 18, 2024

Dangote Group, owners of Dangote Refinery, and the Nigerian National Petroleum Company Limited, NNPCL, have clashed over a $1 billion […]

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Marketers reduce petrol prices in Abuja

By Ifunanya / December 18, 2024

Marketers have reduced the price of Premium Motor Spirit, otherwise known as petrol, in some retail outlets in the Federal […]

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Like Nigeria, UK’s inflation climbs further in November

By Ifunanya / December 18, 2024

The annual inflation rate of the United Kingdom climbed further above the Bank of England’s target rate in November 2024, […]

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Naira scarcity: CBN fixes N100,000 as limit for PoS withdrawal

By Ifunanya / December 18, 2024

The Central Bank of Nigeria has directed Nigerian banks to set N100,000 per day as a withdrawal limit for customers […]

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Naira extends gains against dollar

By Ifunanya / December 17, 2024

The naira gained further against the dollar at both the official and parallel foreign exchange markets on Tuesday. FMDQ data […]

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Onion prices increase by 200% in Nigerian markets ahead of Yuletide

Onion prices increase by 200% in Nigerian markets ahead of Yuletide

By Ifunanya / December 17, 2024

A small-sized bulb onion is now sold for between N200 and N300 in Nigerian markets ahead of this year’s Yuletide. […]

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Economists suggest solutions to Nigeria’s rising inflation

By Ifunanya / December 17, 2024

Nigerian economists and financial analysts said the federal government must reevaluate its policies around critical sectors such as manufacturing, agriculture, […]

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Cash Scarcity: Commercial banks’ staff selling naira to PoS operators – Okai alleges

By Ifunanya / December 17, 2024

Amid the scarcity of cash in Nigeria, a Kogi State-born political activist and immediate past House of Representative candidate for […]

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Celebrating Dupe Olusola’s transformative leadership as Transcorp Hotels Plc welcomes new CEO

Celebrating Dupe Olusola’s transformative leadership as Transcorp Hotels Plc welcomes new CEO

By Ifunanya / December 17, 2024

As Transcorp Hotels Plc announces the appointment of Mrs Uzo Oshogwe as the new Managing Director/Chief Executive Officer effective January […]

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FCMB Hackathon: Startups Work on Solutions for Livestock Mortality and Financial Inclusion

FCMB Hackathon: Startups Work on Solutions for Livestock Mortality and Financial Inclusion

By Ifunanya / December 16, 2024

For conceptualising and developing actionable solutions to bridge gaps in Nigeria’s agribusiness ecosystem, winners of this year’s First City Monument […]

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FEC Okays 161.3m euros for Phase 1 Siemens Power Project

By Ifunanya / December 16, 2024

The Federal Executive Council, FEC, meeting presided over by President Bola Tinubu on Monday approved the sum of 161,328,228 euros […]

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Pension administrators to start refund of 7.5% in Niger

By Ifunanya / December 16, 2024

Pension fund administrators in Niger State have gotten the green light from the National Pension Commission to start refunding 7.5 […]

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Naira appreciates against dollar despite rise in Nigeria’s inflation

By Ifunanya / December 16, 2024

The naira appreciated against the dollar at the official market to kick off the week on a good note.FMDQ data […]

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Port Harcourt Refinery's restart crucial to Nigeria’s energy sufficiency – NNPC

Port Harcourt Refinery’s restart crucial to Nigeria’s energy sufficiency – NNPC

By Ifunanya / December 16, 2024

The Nigerian National Petroleum Company Limited, NNPCL, said the restart of the 60,000 barrels per day Port Harcourt refinery marked […]

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