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: Arcing Cause of Outage, Not Collapse Claims TCN

TCN Commissions New Transformer, Boosts Power Supply to Lagos

By Ifunanya / September 14, 2024

Nigeria’s Power Transmission Capacity Boosted with New Transformer Commissioning The Transmission Company of Nigeria (TCN) has made a significant leap […]

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Dangote Refinery to Start Supplying Petrol, Diesel in Naira from

Dangote Refinery to Start Supplying Petrol, Diesel in Naira from September 15

By Ifunanya / September 14, 2024

Breaking News: Nigeria’s Dangote Refinery to Start Loading Petrol on September 15 In a significant development, the Presidential Committee on […]

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Nigeria's External Reserves Surge by $424m

Nigeria’s External Reserves Surge by $424m

By Ifunanya / September 14, 2024

Nigeria’s Financial Outlook Improves with Surge in External Reserves The Central Bank of Nigeria (CBN) has announced a significant increase […]

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Naira Gains Against Dollar in Foreign Exchange Market

Naira Gains Against Dollar in Foreign Exchange Market

By Ifunanya / September 13, 2024

The Naira’s Unlikely Boost: A Week of Wild Fluctuations at Foreign Exchange Market In a surprising turn of events, the […]

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CBN Directs PoS Operators to Route Transactions Through Licensed Aggregators

CBN Directs PoS Operators to Route Transactions Through Licensed Aggregators

By Ifunanya / September 13, 2024

Nigeria’s Central Bank Directs Point of Sale Operators to Route Transactions Through Licensed Aggregators The Central Bank of Nigeria (CBN) […]

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Petrol Price Hike Sparks Fear of Wage Demands, Economic Unrest

Petrol Price Hike Sparks Fear of Wage Demands, Economic Unrest

By Ifunanya / September 13, 2024

Government Faces Pressure to Increase Wages Amid Petrol Price Hike A recent surge in petrol prices in Nigeria has sparked […]

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Nigerian Regulator Fines AEDC ₦1.69bn for Overbilling Customers

Nigerian Regulator Fines AEDC ₦1.69bn for Overbilling Customers

By Ifunanya / September 13, 2024

Nigerian Electricity Regulatory Commission Imposes ₦1.69bn Fine on Abuja Electricity Distribution Company The Nigerian Electricity Regulatory Commission (NERC) has imposed […]

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Naira Rallies 4.8% Against Dollar in Biggest Jump Since July

Naira Rallies 4.8% Against Dollar in Biggest Jump Since July

By Ifunanya / September 13, 2024

Naira Records Strongest Gain Against US Dollar in Nearly Two Months The Nigerian naira has made a significant comeback, appreciating […]

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Nigeria's CNPP Condemns Threat to Zenith Labour Party Chairman

Nigeria’s Revenue Leaks Fuel Inflation and Corruption

By Ifunanya / September 13, 2024

Revenue Leakages and Corruption: Nigeria’s Biggest Challenges The Conference of Nigeria Political Parties (CNPP) has sounded the alarm over persistent […]

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CBN Orders PoS Transaction Tracking, PSPs Face 30 Day Deadline

CBN Orders PoS Transaction Tracking, PSPs Face 30-Day Deadline

By Ifunanya / September 12, 2024

Nigeria’s Central Bank Orders Payment Service Providers to Track Point of Sale Transactions The Central Bank of Nigeria (CBN) has […]

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Dangote Refinery Frustrated by Local Marketers' Boycott

Dangote Refinery Frustrated by Local Marketers’ Boycott

By Ifunanya / September 12, 2024

Frustration Mounts as Local Marketers Boycott Dangote Refinery’s Products Devakumar V.G. Edwin, the Vice President of Dangote Industries Limited, has […]

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Kaduna Refinery's Toxic Gas Spill Sparks Health Crisis and Frustration

Kaduna Refinery’s Toxic Gas Spill Sparks Health Crisis and Frustration

By Ifunanya / September 12, 2024

Residents Fear "Mass Deaths and Deformity" as Hydrogen Fluoride Spills Continue Kafam, Nigeria – More than two weeks have passed […]

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Nigeria Oil Sector Stakeholders Call for Full Deregulation and Market

Nigeria Oil Sector Stakeholders Call for Full Deregulation and Market Liberalization

By Ifunanya / September 12, 2024

Optimizing Nigeria’s Oil and Gas Industry: Stakeholders Call for Deregulation and Collaboration A recent webinar themed "Optimising the Nigerian Oil […]

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Nigerias Foreign Trade Surges by 249 to N6981 Trillion in

Nigeria’s Q2 exports: Top 5 destinations revealed

By Ifunanya / September 12, 2024

Nigeria’s Top Export Destinations: Spain, US, France, India, and the Netherlands In its latest Foreign Trade Data released on Wednesday, […]

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Nigeria Seeks Private Sector Partner for Cultural Economy Growth

Nigeria Seeks Private Sector Partner for Cultural Economy Growth

By Ifunanya / September 12, 2024

Nigeria Seeks Private Sector Partnership to Unlock Creative Talent The Nigerian government is urging the private sector to collaborate with […]

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Innoson Unveils Nigeria's First Locally Produced Electric Vehicle

Innoson Unveils Nigeria’s First Locally Produced Electric Vehicle

By Ifunanya / September 11, 2024

Innoson Unveils First Locally Produced Electric Vehicle in Nigeria In a groundbreaking achievement for the Nigerian automotive industry, Innoson Vehicle […]

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FCCPC Seeks Stakeholder Support to Tackle Price Fixing

FCCPC Seeks Stakeholder Support to Tackle Price Fixing

By Ifunanya / September 11, 2024

Nigerian Consumer Protection Agency Targets Cartels in Food and Transport Sectors The Federal Competition and Consumers Protection Commission (FCCPC) has […]

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Nigeria's June 2024 Revenue Allocation: State by State Breakdown Revealed

Nigeria’s June 2024 Revenue Allocation: State-by-State Breakdown Revealed

By Ifunanya / September 11, 2024

Nigeria’s Office of the Accountant General Reveals June 2024 Revenue Allocation In a recent publication, Nigeria’s Office of the Accountant […]

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Nigeria's First Foreign Currency Bond Secures $900m in Oversubscription

Nigeria’s First Foreign-Currency Bond Secures $900m in Oversubscription

By Ifunanya / September 11, 2024

Nigeria Secures $900 Million in Historic Foreign-Currency Bond Issuance Nigeria has made a significant step towards stabilizing its economy, securing […]

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Nigeria's Oil Production Fails to Meet Expectations

Nigeria’s Oil Production Fails to Meet Expectations

By Ifunanya / September 11, 2024

New Crisis Emerges as OPEC Reports Nigeria’s Oil Output Falls Short of Claimed 1.6million Barrels per Day Nigeria’s oil industry […]

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