African Business News

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

Nigeria Scraps Fuel and FX Subsidies Amid Economic Strain.

NNPCL Commences $6bn Debt Repayment

By Ifunanya / October 24, 2024

Nigeria Makes Headway in Debt Repayment as NNPCL Initiates $6 Billion Settlement Process The Nigerian government has taken a significant […]

Continue Reading
FG Issues 7 Day Ultimatum to Julius Berger on Abuja Kaduna Road

FG Issues 7-Day Ultimatum to Julius Berger on Abuja-Kaduna Road

By Ifunanya / October 24, 2024

Nigeria’s Federal Government has issued a final seven-day ultimatum to construction firm Julius Berger, calling on the company to accept […]

Continue Reading
Nigeria's Flight Woes Blamed on Lack of Aircraft Capacity

Nigeria’s Flight Woes Blamed on Lack of Aircraft Capacity

By Ifunanya / October 23, 2024

Flight Delays and Disruptions in Nigeria Attributed to Airlines’ Capacity Issues The Nigeria Civil Aviation Authority (NCAA) has identified the […]

Continue Reading
Canada Cuts Interest Rate to 3.75% Amid Inflation Battle

Canada Cuts Interest Rate to 3.75% Amid Inflation Battle

By Ifunanya / October 23, 2024

Canada Cuts Interest Rate, Bringing Relief to Borrowers Amid Easing Inflation In a significant move to further alleviate the financial […]

Continue Reading

Naira Drops N52 in 48 Hours Amid FX Supply Plunge

By Ifunanya / October 23, 2024

Nigeria’s Naira Plunges Amid FX Supply Shortage In a dramatic turn of events, Nigeria’s currency, the Naira, has taken a […]

Continue Reading
IMF Downgrades Nigeria's Growth Prospects

IMF Downgrades Nigeria’s Growth Prospects

By Ifunanya / October 23, 2024

IMF Cuts Nigeria’s Growth Projections Due to Low Crude Oil Production and Severe Flooding The International Monetary Fund (IMF) has […]

Continue Reading
Mozambican Cigars Make Their Mark

Mozambican Cigars Make Their Mark

By Ifunanya / October 22, 2024

Africa Joins Global Cigar Market as Mozambique’s Bongani Cigars Make Its Mark In a small, neon-lit factory in Maputo, Mozambique, […]

Continue Reading
Nigeria Set to Benefit from €4bn German Green Energy Investment

Nigeria Set to Benefit from €4bn German Green Energy Investment

By Ifunanya / October 22, 2024

Nigeria to Benefit from Germany’s €4 Billion Green Energy Investment In a strategic move to accelerate Africa’s transition to renewable […]

Continue Reading
Nigeria Clears $1.28B ExxonMobil Sale to Seplat

Nigeria Clears $1.28B ExxonMobil Sale to Seplat

By Ifunanya / October 22, 2024

Seplat Energy’s Acquisition of ExxonMobil’s Nigerian Assets Gets Green Light from Federal Government The Nigerian government has given the go-ahead […]

Continue Reading
MTN Nigeria Urges Sector Reform Amid Losses.

MTN Nigeria Urges Sector Reform Amid Losses.

By Ifunanya / October 22, 2024

Urgent Call to Action: MTN Nigeria Warns of Impending Shutdown Without Tariff Hike MTN Nigeria, the country’s largest telecom operator, […]

Continue Reading

Dangote Refinery Denies Petrol Import Suit Against NNPCL

By Ifunanya / October 22, 2024

Dangote Refinery Clarifies Petrol Import Dispute with Nigerian National Petroleum Company A recent report suggesting that Dangote Refinery has taken […]

Continue Reading
Nigeria's Urban Planning Crisis: Slums, Flooding, and the Way Forward

Nigeria’s Urban Planning Crisis: Slums, Flooding, and the Way Forward

By Ifunanya / October 22, 2024

URBAN PLANNING FAILURES EXPOSED: SLUMS RAVAGE NIGERIA’S CITIES In Nigeria, millions of citizens live in deplorable conditions due to the […]

Continue Reading
NCDMB, UBEC Partner for Nigeria's Smart Schools

NCDMB, UBEC Partner for Nigeria’s Smart Schools

By Ifunanya / October 21, 2024

Nigeria Takes Giant Leap in Education with NCDMB-UBEC Partnership In a move that promises to revolutionize basic education in Nigeria, […]

Continue Reading
Nigeria Supplies Electricity to Neighboring Countries

Nigeria Supplies Electricity to Neighboring Countries

By Ifunanya / October 21, 2024

Nigeria Supplies Electricity to Neighboring Countries Despite Frequent Blackouts In an interview on Channels Television’s Sunday Politics, the Chief Executive […]

Continue Reading
Nigeria's Cooking Gas Price Skyrockets Amid Naira Devaluation

Nigeria’s Cooking Gas Price Skyrockets Amid Naira Devaluation

By Ifunanya / October 21, 2024

Skyrocketing Cooking Gas Prices: A Threat to Nigeria’s Clean Cooking Ambitions Nigeria’s cooking gas prices have surged by 114% in […]

Continue Reading

Nigerian Customs Generate N4.2 Billion in 9 Months of 2024

By Ifunanya / October 20, 2024

Nigerian Customs Service Surges Past Revenue Targets, Generates N4.2 Billion in Nine Months In an impressive display of financial growth, […]

Continue Reading
Nigeria Proposes 5% Tax on Telecoms, Gaming Services

Nigeria Proposes 5% Tax on Telecoms, Gaming Services

By Ifunanya / October 20, 2024

Nigeria Proposes 5% Excise Duty on Telecoms, Gaming, and Betting The Nigerian government has introduced a new bill that could […]

Continue Reading
CBN Spends N1.73tn on Food Imports Amid Rising Inflation

CBN Spends N1.73tn on Food Imports Amid Rising Inflation

By Ifunanya / October 20, 2024

Nigerian Government’s Plan to Reduce Food Prices Faces Major Setbacks Nigeria’s efforts to reduce food prices and inflation have encountered […]

Continue Reading
Nigeria's Grid Collapses Again Amid Explosion, Blackouts

Nigeria’s Grid Collapses Again Amid Explosion, Blackouts

By Ifunanya / October 19, 2024

Nigeria’s National Grid Collapses for the Third Time in a Week A nationwide blackout struck Nigeria in the early hours […]

Continue Reading
Nigeria Grid Collapse: Load Recovery Underway After Blackout

Nigeria Grid Collapse: Load Recovery Underway After Blackout

By Ifunanya / October 19, 2024

Nigeria’s National Grid Collapses for the Third Time, Leaving Millions in Darkness. A nationwide blackout hit Nigeria on Saturday morning […]

Continue Reading
Scroll to Top