African Business News

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

Nigeria exported N181.62bn worth of electricity in nine months – NBS

By Ifunanya / December 16, 2024

Nigeria exported N181.62 billion worth of electricity from January to September of 2024, the National Bureau of Statistics, NBS has […]

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NGX slams 3,792 sanctions on erring investors

By Ifunanya / December 16, 2024

The Nigerian Exchange Group, NGX, through its regulatory subsidiary, NGX Regulation Limited, NGX Regco, issued around 3,792 regulatory actions on […]

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Dangote Refinery World’s miracle – Japanese Investor

By Ifunanya / December 16, 2024

A Japanese investor, the Managing Director of Limited, Masahiro Tsuno, has described the 650,000 barrels per day Dangote Refinery as […]

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Dangote petrol exported to three African countries

Dangote petrol exported to three African countries

By Ifunanya / December 16, 2024

The Dangote Refinery said it has exported Premium Motor Spirit (petrol) to Cameroon, Angola, Ghana, and South Africa in the […]

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Fuel subsidy removal, floating of Naira sparked inflation in 2024 – CIBN

By Ifunanya / December 15, 2024

The Chattered Institute of Bankers of Nigeria, CIBN, has stated that some government policies such as the removal of fuel […]

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Nigeria set to release inflation data for November

By Ifunanya / December 15, 2024

Nigeria’s inflation figure for November is expected to be released by the National Bureau of Statistics between Sunday and Monday, […]

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Nigeria will save N640bn by terminating Julius Berger’s contract – Umahi

By Ifunanya / December 15, 2024

The Minister of Works, Dave Umahi, has explained that Nigeria would save N640 billion by terminating Julius Berger’s contract to […]

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CBN imposes N150m fine on banks issuing new notes to hawkers

By Ifunanya / December 14, 2024

The Central Bank of Nigeria, CBN, has imposed a fine of N150 million on Deposit Money Banks found culpable of […]

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FAAC shares N1.727trn revenue with Federal, State, Local Govts in November

By Ifunanya / December 14, 2024

The revenue shared among the federal, state, and local governments in November 2024, as accrued from the Federation Accounts Allocation […]

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Alleged Wrongful dismissal: Ex-staff accuses TotalEnergies of frustrating court cases

Alleged Wrongful dismissal: Ex-staff accuses TotalEnergies of frustrating court cases

By Ifunanya / December 14, 2024

A disengaged staff member of TOTAL Energies, Mrs Oghenero Ozobeme, has accused the company of frustrating pending cases she filed […]

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NGX stocks surge as investors record gains

By Ifunanya / December 14, 2024

Nigerian Exchange Limited, NGX, has ended the week on a bullish note as equities market capitalization crossed the N60 trillion […]

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Cash scarcity: CBN gives update on validity of old N1000, 500, N200 Naira notes

Cash scarcity: CBN gives update on validity of old N1000, 500, N200 Naira notes

By Ifunanya / December 13, 2024

The Central Bank of Nigeria has reiterated that the old N1000, N500, and N200 denominations remain valid and legal tender […]

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Naira weakens against dollar to end week on negative note

By Ifunanya / December 13, 2024

The naira weakened against the dollar on Friday at the foreign exchange market, closing the week on a negative note. […]

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FAAC shares N1.827trn revenue with federal, state, local governments in November

By Ifunanya / December 13, 2024

The revenue shared among the federal, state, and local governments in November 2024, as accrued from the Federation Accounts Allocation […]

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Nigeria foreign direct investments increase imminent in 2025 - Report

Nigeria foreign direct investments increase imminent in 2025 – Report

By Ifunanya / December 13, 2024

Nigeria’s foreign direct investments are expected to increase in the coming year, 2025, provided current economic reforms are sustained, analysts […]

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World Bank to approve Nigeria's $500m loan request, 10th under Tinubu

World Bank to approve Nigeria’s $500m loan request, 10th under Tinubu

By Ifunanya / December 13, 2024

International lender, the World Bank, is expected to meet and approve a $500 million loan to Nigeria on Friday to […]

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Seplat completes acquisition of Mobil at $800m

By Ifunanya / December 13, 2024

Nigeria’s indigenous firm, Seplat Energy Plc, has finally completed its acquisition of Mobil Producing Nigeria Unlimited, MPNU, from ExxonMobil at […]

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Nigerian govt issues N1.1trn Sukuk bonds to finance 124 road projects – SEC

By Ifunanya / December 13, 2024

The Securities and Exchange Commission, SEC, has said the Nigerian government issued six sovereign sukuk worth N1.1 trillion, which is […]

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Naira appreciates against dollar on official, black markets

By Ifunanya / December 12, 2024

The naira appreciated against the dollar in both the official and parallel foreign exchange markets on Thursday. According to data […]

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NGX maintains positive run as investors gain N183bn

By Ifunanya / December 12, 2024

The Nigerian Exchange Limited maintained its bullish trend on Wednesday as market capitalization gained N183 billion. This comes as the […]

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