African Business News

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

National grid: TCN attributes blackout in Lokoja to vandalisation

By Ifunanya / November 10, 2024

The Transmission Company of Nigeria has revealed that the vandalisation of Lokoja-Gwagwalada 330 kilovolt transmission line 1 is the reason […]

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Naira appreciates against dollar as FX supply rises

By Ifunanya / November 9, 2024

The naira appreciated against the dollar at the official foreign exchange amid a rise in FX supply. FMDQ data showed […]

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Tax reform bills not South vs North issue – FIRS

By Ifunanya / November 9, 2024

The Coordinating Director of Compliance and Enforcement Group of the Federal Inland Revenue Service, FIRS, Mathew Gbonjubola, has urged Nigerians […]

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US election: Dollar surges, Bitcoin hits record high as Trump declares victory

By Ifunanya / November 9, 2024

The dollar on Wednesday set for its biggest one-day rise since March 2020 against major peers. Bitcoin also jumped to […]

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Stay Organized with Vantazo’s Free Invoice Generator

By Ifunanya / November 9, 2024

Managing a business effectively involves keeping your finances and administrative tasks organized. One of the most critical aspects of this […]

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Dangote’s bid for monopoly, recipe for disaster in Nigeria – Marketers tell court

By Ifunanya / November 9, 2024

Three major oil marketers have told the Federal High Court in Abuja that the planned monopoly of the energy sector […]

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Nigerian govt announces N75bn single-digit interest loans for MSMEs

By Ifunanya / November 9, 2024

The Nigerian government has approved a N75 billion loan scheme with a nine per cent interest rate for 75,000 Micro, […]

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Nigeria in darkness as national grid collapses again

By Ifunanya / November 9, 2024

Nigeria was on Thursday plunged into darkness as the country’s national grid collapsed again. Media Talk Africa reports that the […]

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Electricity customers to lose meters not upgraded after Nov 24 – Enugu Disco

By Ifunanya / November 9, 2024

Customers yet to upgrade their metres stand to lose it after November 24, 2024, the management of Mainpower Electricity Distribution […]

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Naira slumps against dollar to end on negative note

By Ifunanya / November 9, 2024

The Naira depreciated against the dollar on Friday at the foreign exchange market to end the week on a negative […]

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Food prices rise highest level in 18 months – FAO

By Ifunanya / November 9, 2024

The Food and Agriculture Organization, FAO, has said global food prices rose in October to their highest level in 18 […]

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ACTN Calls on Nigerian Government to Curb Inflation Beyond Interest Rate Hikes

By Ifunanya / November 8, 2024

The Association of Corporate Treasurers of Nigeria (ACTN) has urged the Nigerian government to find alternative solutions to inflation without […]

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Equity Market Rebounds with N217 Billion Gain, Driven by Zenith Bank, Access, and Aradel

By Ifunanya / November 7, 2024

The Nigerian equity market showed strong recovery on Thursday, adding N217 billion to investors’ portfolios. The positive momentum was largely […]

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Nissan to Cut 9,000 Jobs Globally in Major Turnaround Effort

By Ifunanya / November 7, 2024

Japanese automaker Nissan has announced plans to slash 9,000 jobs worldwide and reduce production capacity by 20% in response to […]

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Naira Gains Against Dollar as FX Supply Increases, but Black Market Shows Decline

By Ifunanya / November 7, 2024

The Nigerian naira saw a significant appreciation against the U.S. dollar in the official foreign exchange market on Thursday, driven […]

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Wall Street Surges as Trump Declared Winner of 2024 U.S. Presidential Election

By Ifunanya / November 7, 2024

The U.S. stock market experienced a historic rally on Wednesday, with the Dow Jones Industrial Average skyrocketing by more than […]

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Nigeria Faces Funding Challenges in Developing Vast Gas Reserves, Says NNPCL Executive

By Ifunanya / November 7, 2024

Nigeria is grappling with limited funding to advance its extensive local gas projects, according to Oritsemeyiwa Eyesan, Executive Vice President […]

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Dangote Refinery Cautions Against Importing Substandard Petroleum Products Amid Deregulation

By Ifunanya / November 7, 2024

Dangote Petroleum Refinery and Petrochemicals has voiced concerns over the importation of off-spec petroleum products into Nigeria, emphasizing that deregulation […]

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Russian Stock Market Surges Amid Prospective Trump Victory in U.S. Presidential Election

By Ifunanya / November 7, 2024

The Russian stock market surged as reports of a likely victory for Donald Trump in the U.S. presidential election buoyed […]

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World Bank Approves $50 Million for Nigeria’s Food and Nutrition Crisis

By Ifunanya / November 6, 2024

The World Bank has approved a $50 million fund to support Nigeria in tackling its food and nutrition challenges. The […]

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