Business policy news from Africa: regulation, tax, trade rules and government decisions that affect companies and investors.
The Nigerian government is targeting around $7 billion in new foreign direct investment for the oil and gas industry over the next few years, the Minister of State for Petroleum …
ABUJA, Nigeria (AP) – The Central Bank of Nigeria has revoked the operating license of Heritage Bank Plc with immediate effect, citing the lender’s inability to meet minimum capital requirements …
The rail transport sector in Nigeria has experienced a significant resurgence, reaching a two-year high in growth as the broader transport sector exits a prolonged recession. This remarkable recovery underscores …
The Nigerian Airspace Management Agency (NAMA) has formally requested the federal government to reverse a recent policy mandating a 50% deduction from its revenue. NAMA officials argue that the deduction, …
The Nigerian tech industry, a burgeoning sector with immense potential, is facing significant challenges as a result of the ongoing foreign exchange (forex) crisis. Despite the government’s efforts to implement …
The Nigerian Naira has experienced a notable decline in value, and the country’s external reserves have also decreased, despite recent foreign exchange (FX) reforms aimed at stabilizing the economy. According …
In a significant development, the Labour unions are set to present a new proposal during their meeting with the Federal Government team today. The discussions, which have been eagerly anticipated, …
The Central Bank of Nigeria (CBN) has directed all Bureau de Change (BDC) operators in the nation to reapply for updated operational licenses before June 3, 2024, to retain their …
The International Monetary Fund (IMF) has disclosed that import restrictions and foreign currency shortages in Nigeria and other African countries are still hindering businesses. In its Regional Economic Outlook for …
Nigeria’s President Bola Tinubu has approved The Infrastructure Corporation of Nigeria (InfraCorp) to be the Lead Arranger and Developer of Evergreen City, the country’s green industrial zone. According to a …
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