Business Economy Local Dangote Refinery Hits $39.1 Billion Valuation as Investors Rush Into $1 Billion Capital Raise June 11, 2026 Ekemini Uba The Dangote Petroleum Refinery has reached a remarkable valuation of $39.1 billion as it moves to raise fresh capital through a private placement, reinforcing its status as one of Africa’s…
Business Energy International Standard Bank Backs Dangote Refinery IPO, Pledges Support for Expansion Across Africa June 10, 2026 Ekemini Uba Africa’s largest financial institution, Standard Bank Group, has thrown its weight behind the planned Dangote Refinery IPO, reaffirming its commitment to support the growth ambitions of Dangote Industries Limited across…
Business Economy International Trade Nigeria Imports N654.94bn Worth of Goods from Africa in Q1 2026 — South Africa, Angola, Egypt Lead Trade Surge June 10, 2026 Ekemini Uba Nigeria’s African Imports Hit N654.94bn in Q1 2026 as South Africa Tops Trade Partners Nigeria’s import trade with African countries surged to N654.94 billion in the first quarter of 2026,…
Business Economy Local Naira Holds at N1,361/$ as Dollar Strengthens on Strong U.S. Jobs Data and Fed Outlook Pressure June 10, 2026 Ekemini Uba The Nigerian naira maintained a relatively stable position against the U.S. dollar, settling around N1,361/$ in midweek trading as the foreign exchange market continued to reflect tight central bank management…
Business Local Macroeconomic Nigeria Economic Reforms Gain IMF Support as FG Vows to Sustain Policy Drive June 10, 2026 Ekemini Uba The Federal Government of Nigeria has welcomed the latest assessment from the International Monetary Fund, describing it as strong validation of its ongoing economic reform agenda. The government says the…
Business Economy International Nigeria’s Foreign Debt Projected to Hit $72.6bn by 2027 Amid Election Spending Pressures – IMF Warns June 10, 2026 Ekemini Uba Nigeria’s external debt is projected to rise sharply to $72.6bn by 2027, according to the International Monetary Fund (IMF), raising fresh concerns about the country’s growing debt burden as it…
Business Economy International Market Stock Futures Fall After U.S. Strikes Iran Amid Rising Middle East Tensions June 10, 2026 Ekemini Uba U.S. stock futures slipped early Wednesday as investors reacted sharply to escalating geopolitical tensions after the United States carried out what it described as “self-defense strikes” against Iran. The move…
Business Finance International investment United Capital Secures Investment Banking Licences in Ethiopia and Rwanda, Expanding East Africa Footprint June 10, 2026 Ekemini Uba United Capital Plc has taken a bold step in its continental expansion strategy after securing investment banking licences in Ethiopia and Rwanda, strengthening its position as one of Africa’s leading…
Business Energy Local FG Sets June 12 Deadline for Oil Bids in 2025 Licensing Round as Nigeria Pushes Upstream Investment June 10, 2026 Ekemini Uba The Federal Government has set Friday, June 12, 2026, as the final deadline for the submission of technical and commercial bids in the ongoing 2025 Nigeria Oil Licensing Round. The…
Business International Technology Anthropic’s Claude Fable 5 is a version of Mythos the public can access today June 10, 2026 Ekemini Uba Anthropic has officially opened access to its most powerful AI system yet, launching Claude Fable 5, a public-facing version of its previously restricted Mythos model. Announced on Tuesday, the rollout…
Business Economy Local CBN Drains N1.69 Trillion in Fierce Liquidity Mop-Up as Investors Rush Long-Term OMO Bills June 10, 2026 Ekemini Uba The Central Bank of Nigeria stepped up its liquidity control measures on June 8, 2026, draining a massive N1.69 trillion from the financial system through its Open Market Operations (OMO)…
Economy investment Local Tinubu’s Nigeria Sees $10bn Capital Inflow, But Investors Prefer Lending Over Long-Term Investment June 10, 2026 Ekemini Uba Nigeria’s capital inflows have hit a new record under President Bola Tinubu, with $10 billion entering the country in the first quarter of 2026 alone. On the surface, the figure…
Business Energy International Oil Prices Drop Sharply as Iran–US Peace Talks Ease Global Supply Fears June 10, 2026 Ekemini Uba Oil prices fell sharply on Tuesday after renewed optimism over a possible diplomatic breakthrough between Iran and the United States triggered a wave of selling across global crude markets. Brent…
Business International Macroeconomic Market IMF Backs Nigeria’s Economic Reforms but Warns of Rising Poverty and Food Insecurity June 10, 2026 Ekemini Uba The International Monetary Fund (IMF) has once again expressed support for Nigeria’s ongoing economic reforms, acknowledging that the country is making progress toward greater macroeconomic stability and improved growth prospects.…
Business Economy investment Local Foreign capital inflows into manufacturing sector drop by 50.7% in Q1 June 10, 2026 Ekemini Uba Nigeria’s manufacturing sector has suffered a steep setback in attracting foreign investment, with capital inflows plunging by 50.7% in Q1 2026, raising fresh concerns about the country’s industrial growth momentum…
Business International Technology Google Slashes AI Subscription Price to $4.99, Igniting New AI Price War in the U.S. June 10, 2026 Ekemini Uba Google has escalated the growing artificial intelligence subscription battle by slashing the price of its entry-level AI plan, Google AI Plus, from $7.99 to $4.99 per month. The move also…
Business International Stock S&P 500, Nasdaq Slip as Chip Stock Rally Loses Steam Despite Falling Oil Prices June 10, 2026 Ekemini Uba The U.S. stock market ended mixed on Tuesday, with the S&P 500 and Nasdaq Composite posting losses as a short-lived rebound in semiconductor stocks lost momentum. Investors remained cautious despite…
Business Finance Local Nigeria’s FX Reserves Surge Above $50bn, Reach Highest Level in 17 Years June 10, 2026 Ekemini Uba Nigeria’s foreign exchange reserves have climbed to an impressive $50.11 billion, marking the highest level recorded in 17 years and signaling growing strength in the country’s external financial position. Data…
Business Local Stock NGX Gains N834.67bn as Airtel Africa, Tier-1 Banks Fuel Market Rally June 10, 2026 Ekemini Uba Nigeria’s stock market continued its impressive rebound on Tuesday as investors added N834.67 billion to the value of listed equities, driven largely by a strong performance from Airtel Africa and…
Banking Business Finance Local IMF Flags Lending Rate Imbalance as Nigerian Banks React Faster to Rate Hikes Than Cuts June 10, 2026 Ekemini Uba The International Monetary Fund (IMF) has raised concerns over the way Nigerian banks respond to changes in monetary policy, noting that financial institutions are quick to increase lending rates when…
Business Economy Finance Local IMF cautions Nigeria on $5bn Abu Dhabi swap deal June 9, 2026 Ekemini Uba The International Monetary Fund (IMF) has urged Nigeria to exercise caution over its proposed $5 billion Total Return Swap (TRS) financing deal with First Abu Dhabi Bank, warning that such…
Business Finance International West Africa Leads Africa’s Digital Tax Revolution as Nigeria, Ghana, Benin Drive Major Reforms – WATAF June 9, 2026 Ekemini Uba West African countries including Nigeria, Ghana, Benin, and Senegal are taking the lead in reshaping Africa’s tax landscape through bold reforms targeting digital services and online economic activities. This was…
Business Energy Local Nigeria Petrol Imports Crash by N2.18 Trillion in Q1 2026 as Local Refining Reshapes Energy Market June 9, 2026 Ekemini Uba Nigeria’s petrol import bill has taken a dramatic nosedive, falling by a staggering N2.18 trillion in the first quarter of 2026, according to fresh data from the National Bureau of…
Business Energy Local Nigeria’s Crude Oil Exports Hit N11.2 Trillion in Q1 2026 Despite Market Swings June 9, 2026 Ekemini Uba Nigeria’s crude oil exports climbed to N11.20 trillion in the first quarter of 2026, reinforcing the country’s dependence on oil as its biggest foreign exchange earner, even amid fluctuating global…
Business Economy International Dangote Named Africa’s Most Admired Brand for 8th Straight Year June 9, 2026 Ekemini Uba Dangote Industries Limited has once again cemented its reputation as Africa’s most admired brand, retaining the top position for the eighth consecutive year in the prestigious Brand Africa 100 rankings.…
Banking Business Local Nigeria’s Top Banks Mobilise N137 Trillion in Deposits as Liquidity Strength Deepens (Q1 2026 Banking Report) June 9, 2026 Ekemini Uba Nigeria’s banking sector started 2026 on a strong liquidity footing, with the country’s top 10 banks collectively mobilising an estimated N137 trillion in customer deposits in the first quarter. The…
Business International Technology OpenAI IPO Filing Signals AI Mega-Race With Anthropic and SpaceX June 9, 2026 Ekemini Uba OpenAI, the creator of ChatGPT, has quietly taken a major step toward becoming a public company by filing confidential paperwork for an initial public offering (IPO). The move, announced in…
Local Technology NDPC, Meta Launch Two-Year Data Protection Initiative to Boost Privacy Awareness in Nigeria June 9, 2026 Ekemini Uba Nigeria is stepping up its digital safety game as the Nigeria Data Protection Commission (NDPC) has partnered with Meta to launch a two-year initiative aimed at improving data protection, privacy…
Business Economy Local Nigeria Records ₦7.54 Trillion Trade Surplus in Q1 2026 as Oil Exports Surge (Up 340%) June 9, 2026 Ekemini Uba Nigeria has recorded a massive trade breakthrough in the first quarter of 2026, posting a trade surplus of ₦7.54 trillion, according to the National Bureau of Statistics. The figure marks…
Local Macroeconomic Nigeria Raises NTB Offer to N4.8 Trillion as Borrowing Pressure Surges in Q2 2026 June 9, 2026 Ekemini Uba Nigeria’s debt market is seeing a sharp shift as the Debt Management Office (DMO) has expanded its Nigerian Treasury Bills (NTB) issuance programme for the second quarter of 2026. The…
