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 Staff Begins Repairs on Collapsed Tower 16 in Kano State

By Ifunanya / August 17, 2024

Nigeria’s Transmission Company Commences Restoration of Collapsed Tower 16 in Kano State In a move aimed at restoring electricity services […]

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Nigeria's Federation Account Allocations: N1.358 Trillion Disbursed in July 2024

Nigeria’s Federation Account Allocations: N1.358 Trillion Disbursed in July 2024

By Ifunanya / August 17, 2024

Nigeria’s Governments Receive Record-Breaking Revenue in July Allocation July saw a significant increase in revenue in Nigeria, with the Federation […]

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Fuel Scarcity in Nigeria Worsens: NMDPRA Warns Against Illegal Petroleum

Fuel Scarcity in Nigeria Worsens: NMDPRA Warns Against Illegal Petroleum Sales

By Ifunanya / August 17, 2024

Here’s a clear, engaging, and well-structured news article about the fuel scarcity and scarcity warning issued by the Nigerian Midstream […]

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Naira Deprecates Sharply Against Dollar, Faces Uncertainty Amid Mixed Forecasts

Naira Deprecates Sharply Against Dollar, Faces Uncertainty Amid Mixed Forecasts

By Ifunanya / August 16, 2024

Naira Depreciates Against Dollar Amid Mixed Fortunes The Nigerian naira took a hit on Friday, ending the week on a […]

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Gold Hits Record High as US Rate Cuts Loom and

Gold Hits Record High as US Rate Cuts Loom and Global Markets Diverge

By Ifunanya / August 16, 2024

Gold Hits Record High as Global Stock Markets Diverge Global stock markets took a divergent path on Friday, with Wall […]

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Nigeria Approves N2.5 Billion Mining Fund Transfer, Reviews Royalty Rates

Nigeria Approves N2.5 Billion Mining Fund Transfer, Reviews Royalty Rates Amid Sector Challenges

By Ifunanya / August 16, 2024

Nigeria’s Mining Sector Gets Boost as Minister Approves N2.5 Billion Support Fund Transfer In a move aimed at revamping the […]

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Nigeria to Receive $500 Million World Bank Loan to Revamp

Nigeria to Receive $500 Million World Bank Loan to Revamp Education and Healthcare Sectors

By Ifunanya / August 16, 2024

Nigeria Secures $500 Million World Bank Loan to Boost Education and Healthcare Nigeria is poised to receive a substantial $500 […]

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Myanmar's Central Bank to Release $100M to Ease Fuel Shortage

Myanmar’s Central Bank to Release $100M to Ease Fuel Shortage Amid Currency Crisis

By Ifunanya / August 16, 2024

Myanmar’s Junta- Controlled Central Bank Injects $100 Million to Alleviate Fuel Crisis The economic crisis in Myanmar has taken another […]

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Floods Ravage 27 States in Nigeria, Affecting 227,494 People and

Floods Ravage 27 States in Nigeria, Affecting 227,494 People and Damaging 32,837 Houses

By Ifunanya / August 16, 2024

Nigeria Grapples with Widespread Floods, 227,494 People Affected The National Emergency Management Agency (NEMA) has announced that 27 states in […]

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Naira Slumps vs Dollar at Official Market, Rises on Black

Naira Appreciates Against Dollar as Nigeria’s Inflation Declines

By Ifunanya / August 15, 2024

Nigeria’s Currency Soars Against Dollar Following Historic Drop in Inflation The Nigerian currency, Naira, has experienced a significant gain against […]

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Nigeria Customs Intercept 12 Containers of Illicit Drugs and Fake

Nigeria Customs Intercept 12 Containers of Illicit Drugs and Fake Medicines Worth N1.8 Billion

By Ifunanya / August 15, 2024

Nigeria Customs Service Shuts Down Illegal Drug Network, Seizes Pharmaceutical Fakes Worth N1.8 Billion In a major crackdown on illicit […]

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Nigerian Stock Market: Dangote Group's Stock Prices Plunge Amidst Foreign

Nigerian Stock Market: Dangote Group’s Stock Prices Plunge Amidst Foreign Exchange Losses and SEC Rejection

By Ifunanya / August 15, 2024

Dangote Group’s Stock Prices Plunge amid Foreign Exchange Losses and Securities Commission Rejection Nigeria’s leading conglomerate, Dangote Group, is facing […]

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DAPPMAN Denies Hindering Local Refineries, Urges Support for Domestic Fuel

DAPPMAN Denies Hindering Local Refineries, Urges Support for Domestic Fuel Supply

By Ifunanya / August 15, 2024

Nigerian Depot Owners Deny Accusations of Hindering Local Refineries Despite accusations that they are intentionally stifling the operations of local […]

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Ghana’s Inflation Rate Slows Down to 20.90% in July Amid Interest Rate Hike

By Ifunanya / August 15, 2024

Ghana’s Inflation Rate Eases to 20.90% in July, but Analysts Predict Further Rise Ghana’s inflation rate has significantly declined, easing […]

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Bayelsa Faces Months Long Blackout after Vandals Bring Down 13 Transmission

Bayelsa Faces Months-Long Blackout after Vandals Bring Down 13 Transmission Towers

By Ifunanya / August 15, 2024

Power Outage Looms in Bayelsa State as Vandals Target Transmission Towers A devastating blow to Bayelsa State’s power supply is […]

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Nigeria Announces Zero Import Duty on Essential Food Items to

Nigeria Announces Zero Import Duty on Essential Food Items to Combat Inflation

By Ifunanya / August 15, 2024

Nigeria Customs Service Directed to Implement Zero Import Duty on Basic Food Items The Nigeria Customs Service has been instructed […]

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Naira Gains N42.88 Against Dollar Amid CBN's Retail Dutch Auction

Naira Slumps Against Dollar, Hits N1,586.04 as FX Turnover Plunges 54%

By Ifunanya / August 14, 2024

Naira Plummeting Against Dollar Triggering Concerns in Nigeria The Nigerian naira continues to weaken against the USD at the foreign […]

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Senators Slam Govt Agencies Over Failure to Respond to Audit

Senators Slam Govt Agencies Over Failure to Respond to Audit Queries

By Ifunanya / August 14, 2024

Senate Slams Officials for Refusal to Address Audit Queries The Nigerian Senate Committee on Public Accounts has condemned the actions […]

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SEC Approves Extension of Access Holdings Plc's N351bn Rights Issue

SEC Approves Extension of Access Holdings Plc’s N351bn Rights Issue

By Ifunanya / August 14, 2024

SEC Approves Extension of Access Holdings’ Rights Issue Due to National Protests The Securities and Exchange Commission (SEC) has approved […]

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Naira Records Consecutive Gains Against Dollar Despite Nationwide Protests

Naira Declines 18% Amid Soaring Dollar Demand

By Ifunanya / August 14, 2024

Naira Depreciates as Dollar Supply Dries Up in Nigeria The Nigerian naira has taken a hit as the country’s official […]

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