African Business News

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

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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Nigeria’s inflation rate spikes to 34.60 percent in November amid hardship

By Ifunanya / December 16, 2024

Nigeria’s inflation rate for the month of November 2024 rose to 34.60 percent from 33.88 percent in October, indicating worsening […]

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Tinubu reacts as Shell, partners secure $5bn Nigerian deepwater investment

By Ifunanya / December 16, 2024

President Bola Ahmed Tinubu has lauded the feat by Shell and its partners in securing Nigeria’s first deepwater project in […]

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Shell confirms oil leakage at Bonny Terminal, allays fear of export disruption

By Ifunanya / December 16, 2024

The Shell Petroleum Development Company of Nigeria, SPDC has confirmed an oil leak from the Bonny Oil Export Terminal, saying […]

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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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