African Business News

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

FBN Holdings Plc Rights Issue: The Takeaways

By Ifunanya / December 5, 2024

FBN Holdings Plc (FBNH), one of Nigeria’s leading financial institutions, has launched a rights issue of 5,982,548,799 ordinary shares at […]

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FCCPC insists on Air Peace investigation over violations

By Ifunanya / December 5, 2024

The Federal Competition and Consumer Protection Commission has insisted that it is investigating Air Peace for allegedly exploiting customers. FCCPC […]

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Port Harcourt refinery operating at 70 per cent – Onanuga reveals after fact-finding visit

By Ifunanya / December 5, 2024

President Bola Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, has said the Port Harcourt refinery is operating at […]

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Fuel import hits 2.3bn litres despite Dangote, Port Harcourt refineries

Fuel import hits 2.3bn litres despite Dangote, Port Harcourt refineries

By Ifunanya / December 5, 2024

Nigeria’s Premium Motor Spirit (petrol) import has increased to 2.3 billion litres from September 11 to December 5, 2024, despite […]

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Come to Port Harcourt refinery to see for yourself – NNPCL to Falana, others

By Ifunanya / December 5, 2024

The Nigerian National Petroleum Company Limited has sent an invitation message to Femi Falana, Senior Advocate of Nigeria, and other […]

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Naira appreciates massively against dollar at the black market

By Ifunanya / December 4, 2024

The naira appreciated significantly against the dollar at the parallel foreign exchange market on Wednesday. Abubakar Alhassan, a Bureau De […]

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Less than 3 per cent of Nigerians are insured – Cubecover Survey

By Ifunanya / December 4, 2024

Less than 3 percent of Nigerians have active insurance plans, according to a recent survey by Cubecover. The firm disclosed […]

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Nigerian govt gives update on grounding 60 private jets

By Ifunanya / December 4, 2024

The Nigerian government has explained that it is yet to take action on 60 private jets that operate in the […]

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Nigerian airline Aero Contractors slashes airfares for travellers

By Ifunanya / December 3, 2024

A Nigerian airline, Aero Contractors, has reduced its airfare price across all destinations amid the 2024 Yuletide celebration. Ado Sanusi, […]

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Nigerian govt permits low-income earners to withdraw pension funds

By Ifunanya / December 3, 2024

The Nigerian government says low-income earners are permitted to withdraw their total retirement savings from their monthly pension pending the […]

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Alleged Arik Property Theft: Judge issues bench warrant against former AMCON MD, Kuru

By Ifunanya / December 3, 2024

Former Managing Director of Assets Management Corporation of Nigeria, AMCON, Ahmed Kuru, was absent in court on Monday, where he […]

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Tax Bill not related to north, south dichotomy – Folorunsho

By Ifunanya / December 3, 2024

A member of the Presidential Committee on Fiscal Policy and Tax Reform, Albert Folorunsho, said that the proposed tax bill, […]

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Port Harcourt refinery is still functional – PENGASSAN

By Ifunanya / December 3, 2024

The Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, has confirmed that the Port Harcourt Refinery is functional. […]

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Naira strengthens against dollar at black market

By Ifunanya / December 3, 2024

The Naira appreciated further against the dollar at the foreign exchange market to begin the week on a good note. […]

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Nigeria govt raises $2.2bn from Eurobond amid oversubscription

By Ifunanya / December 3, 2024

Nigeria’s Eurobond achieved a milestone on Monday, raising $2.2 billion after the country returned to the international market, Media Talk […]

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Tinubu’s tax reform bills not to generate revenue — Taiwo Oyedele

By Ifunanya / December 2, 2024

The chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has explained the essence of the […]

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Tax reform bills to address multiple levies overburdening Nigerian investors — Presidency

By Ifunanya / December 2, 2024

The presidency has debunked insinuations that it introduced tax reform bills to make Lagos and Rivers richer than other states. […]

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Nigerian govt begins deduction of N50 electronic levy from Opay, Moniepoint users

By Ifunanya / December 2, 2024

The Nigerian government has commenced deduction of N50 electronic levy from transactions made by users of Opay, Moniepoint, and other […]

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Nigeria spent N6.2tn, N4.5tn on FX, fuel subsidies in 2022—CBN

Nigeria spent N6.2tn, N4.5tn on FX, fuel subsidies in 2022—CBN

By Ifunanya / December 2, 2024

The Central Bank of Nigeria Governor, Olayemi Cardoso said the federal government spent N6.2 trillion on foreign exchange subsidy in […]

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Port Harcourt Refinery: Nigerian govt gives fresh update

By Ifunanya / December 2, 2024

The management of the Port Harcourt refinery has said that the plant commenced full-scale operation after successful rehabilitation. The company’s […]

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