African Business News

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

Telegram CEO Warns of Exit from ‘Incompatible’ Markets

By Ifunanya / September 7, 2024

Telegram CEO Ready to Exit Markets Not Compatible with Principles In a recent statement, Pavel Durov, the Chief Executive Officer […]

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Dangote Refinery: Why Petrol Won't Sell Below N850/Litre

Dangote Refinery: Why Petrol Won’t Sell Below N850/Litre

By Ifunanya / September 6, 2024

Nigeria’s Dangote Refinery May Not Sell Petrol Below $1.70 Due to Production Costs A leading oil and gas expert, Henry […]

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CAC Cracks Down on Unregistered PoS Operators

CAC Cracks Down on Unregistered PoS Operators

By Ifunanya / September 6, 2024

As the 60-day deadline for Point of Sale (PoS) operators to register their businesses with the Corporate Affairs Commission (CAC) […]

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FG Flags Off 30,000MT Milled Rice Sales, Targets Food Security

FG Flags Off 30,000MT Milled Rice Sales, Targets Food Security

By Ifunanya / September 6, 2024

Nigeria’s Federal Government Launches 30,000 Metric Tonnes of Subsidized Milled Rice In a move to curb racketeering and crash food […]

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Battery Control Regulations: N2m Fine for Violators, 6-Month Jail Term

By Ifunanya / September 6, 2024

Battery Control Regulations in Nigeria: New Penalties and Responsibilities In a bid to regulate the growing use of batteries in […]

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Naira Depreciates to N1639 Per Dollar Amid Central Bank's FX

Naira Depreciates to N1639 Per Dollar Amid Central Bank’s FX System

By Ifunanya / September 6, 2024

Naira Races to N2000 per Dollar as Currency Records Three Days of Consecutive Depreciations The Nigerian naira continues to struggle, […]

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Bank of Industry Secures €1.425 Billion Loan from Global Markets

Bank of Industry Secures €1.425 Billion Loan from Global Markets

By Ifunanya / September 5, 2024

Nigeria’s Bank of Industry Secures €1.425 Billion in Oversubscribed Loan Syndication The Bank of Industry (BOI) has made a significant […]

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N80m in Space Agency’s Budget for ‘Pregnancy Sensitization’?

By Ifunanya / September 5, 2024

Nigeria’s National Assembly Accused of Looting Budget with Dubious ‘Pregnancy Sensitization’ Insertion A viral video released by BudgIT Nigeria has […]

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Onne Port Declares State of Emergency Over Illegal Arms, Ammunition

Onne Port Declares State of Emergency Over Illegal Arms, Ammunition Importation

By Ifunanya / September 5, 2024

Federal Government Declares State of Emergency at Onne Port Amidst Repeated Incidents of Illegal Cargo The Federal Government of Nigeria […]

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Nigeria's Economy Expands After 13 Month Contraction

Nigeria’s Economy Expands After 13-Month Contraction

By Ifunanya / September 5, 2024

Nigeria’s Economy Sees First Expansion in 13 Months The Central Bank of Nigeria’s Purchasing Managers’ Index (PMI) report for August […]

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Nigeria's Gas Production Targets 12 Bcf by 2030

Nigeria’s Gas Production Targets 12 Bcf by 2030

By Ifunanya / September 5, 2024

Nigeria’s Gas Production Growth Sparks Optimism, as Country Aims to Become a Gas Economy by 2030 Nigeria’s gas production is […]

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Naira Plummets to N1625.88 per Dollar Amid Heavy Depreciation

By Ifunanya / September 5, 2024

Naira’s Value Plummets Against Dollar in Foreign Exchange Market The Nigerian naira has continued its downward spiral against the US […]

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Fuel Price Hike to Reversely Affect Economy, Inflation

Fuel Price Hike to Reversely Affect Economy, Inflation

By Ifunanya / September 4, 2024

Fuel Price Hike Triggers Widespread Price Increases, Warns Lagos Chamber of Commerce The recent hike in fuel price in Nigeria […]

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NUPENG Praises Dangote Refinery on Historic Petrol Production

NUPENG Praises Dangote Refinery on Historic Petrol Production

By Ifunanya / September 4, 2024

Historic Refinery Commencement Celebrated by Nigerian Union of Petroleum and Natural Gas Workers The Nigerian Union of Petroleum and Natural […]

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Nigeria Targets Zero Rated Tax on Food Items to Ease Burden

Nigeria Targets Zero-Rated Tax on Food Items to Ease Burden on Poor

By Ifunanya / September 4, 2024

"Nigerian Government Moves to Slash Food Taxes, Plans VAT Increase" The Nigerian Government has made a bold move to alleviate […]

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Fact Checking Fuel Subsidy Claims: No Deception by Tinubu Govt

Fact-Checking Fuel Subsidy Claims: No Deception by Tinubu Govt

By Ifunanya / September 4, 2024

Tinubu’s Government Stands Firm on Fuel Subsidy Removal, Denies Claim of False Information Despite recent speculations and backlash, the administration […]

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Nigerian Stock Exchange Bounces Back with N45bn Gain

Nigerian Stock Exchange Bounces Back with N45bn Gain

By Ifunanya / September 4, 2024

Nigerian Stock Exchange Extends Bullish Run, Investors Pocket N45bn Gain The Nigerian Stock Exchange (NSE) continued its upward trajectory on […]

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Naira Slumps vs Dollar Amid Petrol Price Hike

Naira Slumps vs Dollar Amid Petrol Price Hike

By Ifunanya / September 3, 2024

Naira Slumps Against Dollar Amid Petrol Price Hike in Nigeria The Nigerian naira has taken a significant hit against the […]

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Nigeria China relations upgraded to strategic partnership: Tinubu meet Xi Jinping

Nigeria-China relations upgraded to strategic partnership: Tinubu meet Xi Jinping

By Ifunanya / September 3, 2024

Nigeria and China Seal Comprehensive Strategic Partnership Amid Growing Economic Ties Beijing, China – Nigeria’s President Bola Tinubu has hailed […]

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Dangote Refinery's Premium Petrol Meets US Standards

Dangote Refinery’s Premium Petrol Meets US Standards

By Ifunanya / September 3, 2024

Dangote Refinery’s Premium Petrol to Match US Quality, Says Aliko Dangote Lagos, Nigeria – The president of the Dangote Group, […]

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