African Business News

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

Chevron Discovers New 17,000bpd Oil Field in Nigeria

Chevron Discovers New 17,000bpd Oil Field in Nigeria

By Ifunanya / October 19, 2024

New Oil Field Discovery in Nigeria Boosts Hopes for Revitalized Industry Chevron Nigeria Limited, a subsidiary of Chevron Corporation, has […]

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Nigeria’s Oil & Gas Growth Tied to 2021 PIA Implementation

Nigeria’s Oil & Gas Growth Tied to 2021 PIA Implementation

By Ifunanya / October 19, 2024

Implementing the Petroleum Industry Act: Nigeria’s Key to Economic Growth In a recent stakeholders’ engagement in Abuja, the Federal Ministry […]

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Nigeria to Implement Cashless Tolling System on Abuja Keffi Expressway

Nigeria to Implement Cashless Tolling System on Abuja-Keffi Expressway

By Ifunanya / October 18, 2024

Nigeria is set to implement a cashless tolling system on the Abuja-Keffi expressway, a major highway connecting the country’s capital […]

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FG Orders Discos to Replace Phased Out Meters

FG Orders Discos to Replace Phased-Out Meters

By Ifunanya / October 18, 2024

Nigeria’s Federal Government has instructed electricity distribution companies to replace any meter phased out due to an upgrade, in a […]

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Nigeria Scraps Fuel and FX Subsidies Amid Economic Strain.

Nigeria Scraps Fuel and FX Subsidies Amid Economic Strain.

By Ifunanya / October 18, 2024

Nigeria has officially ended fuel and foreign exchange subsidies, according to the country’s Minister of Finance, Wale Edun. Edun made […]

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World Bank Narrows Focus to 22 Key Development Indicators

World Bank Narrows Focus to 22 Key Development Indicators

By Ifunanya / October 17, 2024

In a significant move to sharpen its focus on critical global development challenges, the World Bank has reduced the number […]

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Nigeria Police Warn POS Operators Over Kidnapping Ransom Transactions

Nigeria Police Warn POS Operators Over Kidnapping Ransom Transactions

By Ifunanya / October 17, 2024

In a bid to curb the growing trend of kidnapping and other financial crimes, the police in Nigeria’s Delta State […]

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Nokia reports 32% rise in net profit despite sales drop.

Nokia reports 32% rise in net profit despite sales drop.

By Ifunanya / October 17, 2024

Nokia Sees Rise in Net Profit Despite Sales Drop Amid India Slowdown Finnish telecoms equipment maker Nokia has reported a […]

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NNPC Remains Dangote Refinery's Sole Petrol Off Taker

NNPC Remains Dangote Refinery’s Sole Petrol Off-Taker

By Ifunanya / October 17, 2024

Nigeria’s Dangote Refinery Deal with NNPC Puts Other Oil Marketers on Hold A recent directive from the Nigerian Federal Government […]

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NNPCL Remains Dangote Refinery Petrol’s Sole Off-Taker

By Ifunanya / October 17, 2024

Oil Marketers in Nigeria Reveal Current Status of Dangote Refinery Petrol Sales Despite the Nigerian government’s recent move to permit […]

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Naira Plummets N106.7 Against Dollar in 48 Hours

By Ifunanya / October 17, 2024

Nigeria’s currency, the naira, has experienced a significant decline against the US dollar in the past 48 hours, shedding N106.7 […]

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CBN Re Validates $2.4bn FX Claims Amid Industry Pressure

CBN Re-Validates $2.4bn FX Claims Amid Industry Pressure

By Ifunanya / October 17, 2024

In a significant development, the Central Bank of Nigeria (CBN) has commenced a re-validation exercise to address long-standing complaints from […]

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Nigeria's Economic Future: Boosting Domestic Investment

Nigeria’s Economic Future: Boosting Domestic Investment

By Ifunanya / October 16, 2024

Nigeria’s Economic Future: Indigenous Companies Have Higher Risk Appetite, Says Governor Chukwuma Soludo In a bid to boost the Nigerian […]

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Nigeria's Power Sector Boost: Hexing Launches Local Electricity Meter Factory

Nigeria’s Power Sector Boost: Hexing Launches Local Electricity Meter Factory

By Ifunanya / October 16, 2024

Nigeria’s Power Sector Takes a Step Forward with the Launch of Hexing Livoltek In a significant milestone for Nigeria’s power […]

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Shell and Partners Accused of Withholding $1 Billion in Oil

Shell and Partners Accused of Withholding $1 Billion in Oil Spill Compensation

By Ifunanya / October 16, 2024

Oil Giant Accused of Diverting $1 Billion Compensation Claim for Nigerian Communities The Executive Director of Oil Spill Victims Vanguard […]

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Nigeria's Naira Among Worst Performing Currencies, Says World Bank

Nigeria’s Naira Among Worst-Performing Currencies, Says World Bank

By Ifunanya / October 16, 2024

Naira Among Worst-Performing Currencies, World Bank Warns In a concerning warning, the World Bank has cautioned that a further increase […]

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Oil Regulator Vows to Clamp Down on Sharp Practices

Oil Regulator Vows to Clamp Down on Sharp Practices

By Ifunanya / October 16, 2024

Nigeria’s Fuel Crisis: Regulatory Authority Vows to Clamp Down on Sharp Practice The Petroleum Products Retail Outlets Owners Association (PETROAN) […]

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Air Peace CEO Praises Gov't Efforts to Simplify Aviation Business

Air Peace CEO Praises Gov’t Efforts to Simplify Aviation Business

By Ifunanya / October 16, 2024

Nigeria’s Aviation Sector Sees Hope as Government Efforts Boost Ease of Doing Business In a bid to make the aviation […]

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Champion Breweries Expands, Boosts Production with New Share Issue

Champion Breweries Expands, Boosts Production with New Share Issue

By Ifunanya / October 15, 2024

Champion Breweries Plc to Issue New Shares to Address Free-Float Deficiency In a bid to strengthen its position on the […]

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CNPP Slams NNPCL Over 'Economic Sabotage' and Control of Oil

CNPP Slams NNPCL Over ‘Economic Sabotage’ and Control of Oil Sector

By Ifunanya / October 15, 2024

Nigeria’s Oil Industry in the Crosshairs: CNPP Slams NNPCL’s Recent Moves The Conference of Nigeria Political Parties, CNPP, has add […]

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