Dangote Says Tinubu Reforms Are Driving Refinery Growth, Investor Confidence
Aliko Dangote, President and Chief Executive Officer of Dangote Industries Limited, has linked the growing operations of the Dangote Petroleum…
Category: Business
World Bank Backs Nigeria’s Electricity Tariff, Subsidy Reforms to Fix Power Sector
The World Bank has thrown its weight behind Nigeria’s electricity tariff and subsidy reforms, saying the changes are necessary to…
Nigeria’s Eurobond Yields Rise to 8.2% as Investors Demand Higher Sovereign Risk Premium
Nigeria’s Eurobond yields have climbed as high as 8.2 per cent, signalling that international investors are still demanding a significant…
SEC Proposes N3bn Minimum Capital for Forex Brokers, N5bn for Trading Platforms
The Securities and Exchange Commission (SEC) has proposed sweeping new rules for Nigeria’s online forex and Contracts for Difference (CFD)…
Nigerian Stocks Lose N41 Billion as Large-Cap Shares Drag NGX Lower
Nigerian stocks lost about N41 billion in market value on Wednesday as sell-offs in major large- and medium-capitalised companies pulled…
Google Escapes Ad Business Breakup as US Judge Orders Changes to Its Operations
Google has avoided a major breakup of its advertising business after a US federal judge rejected the government’s push to…
OPEC+ Likely to Keep October Oil Output Unchanged as Iran War Disrupts Supply
OPEC+ is expected to keep its oil production policy unchanged for October as disruptions linked to the Iran war continue…
AfCFTA Unveils $5.17bn Digital Trade Corridor to Transform African Commerce
The African Continental Free Trade Area (AfCFTA) is set to strengthen digital trade across the continent with the establishment of…
NGX Megacaps Add N46.69 Trillion in Market Value in Eight Months of 2026
Nigeria’s biggest listed companies have delivered a major boost to the Nigerian Exchange (NGX), with nine megacap stocks adding a…
UAE Energy Firm Moves to Acquire 90% Stake in Azura Power
Abu Dhabi-based energy infrastructure platform ePointZero is set to acquire a 90 percent stake in Azura Power Holdings Limited, in…
Uber shuts down operations in Nigeria
Global ride-hailing company Uber has announced plans to wind down its operations in Nigeria and Uganda, effective Wednesday, September 2,…
NGX Closes August Strong as ASI Jumps 1.20%, Investors Eye September Rally
The Nigerian Exchange Limited (NGX) ended August on a strong note as renewed buying interest pushed the All-Share Index (ASI)…
CBN to Offer N700bn Treasury Bills in September’s First Auction
The Central Bank of Nigeria (CBN) is set to offer N700 billion worth of Nigerian Treasury Bills (NTBs) in its…
SEC Proposes N5bn Capital Requirement, Tightens Rules for Online Forex Trading
The Securities and Exchange Commission (SEC) has proposed tougher rules for online forex and contracts for difference (CFD) trading in…
Dow Falls 374 Points as U.S.-Iran Strikes Rattle Markets, But Wall Street Ends August Higher
The Dow Jones Industrial Average fell sharply on Monday as renewed military strikes between the United States and Iran sent…
Ventures Platform Raises $84m as Investors Double Down on African Startups
Ventures Platform has secured $84 million in fresh funding for its second institutional fund, surpassing its initial $75 million target…
Nigeria’s Private Sector Activity Hits 7-Month Growth Streak as New Orders Reach 12-Month High
Nigeria’s private sector activity gained fresh momentum in August as stronger customer demand and new product launches pushed new orders…
Forex Utilisation in Nigeria Jumps 74% to $16.35bn in Q1 2026
Foreign exchange utilisation in Nigeria surged by 74 per cent year-on-year to $16.35 billion in the first quarter of 2026,…
WIOCC Secures $300 Million Investment to Expand Africa’s Digital Infrastructure
WIOCC Group has secured a $300 million investment from the Africa Finance Corporation (AFC) and Vision International Investment Company (Vision…
Africa’s Next Investment Boom Shifts Beyond Fintech as Cleantech Gains Ground
Africa’s technology investment story is beginning to change, with investors increasingly looking beyond fintech for opportunities in sectors addressing the…
Nigeria’s Power Reforms Could Strengthen Energy Security, Attract Investment — Minister
Nigeria’s ongoing power sector reforms could offer a blueprint for developing economies seeking to strengthen energy security and attract long-term…
Nigeria Targets $1 Trillion Economy by 2030 as GDP Growth Hits 4.43%
Nigeria is strengthening its push towards a $1 trillion economy by 2030, with the Federal Government pointing to stronger economic…
Global Bond Markets Near $100 Trillion as Government Borrowing Surges
The global bond markets are closing in on a historic $100 trillion milestone, highlighting just how heavily governments around the…
Private Sector Credit Hits N83.43 Trillion as Nigerian Businesses Borrow More
Private sector credit in Nigeria climbed to N83.43 trillion in July 2026, as businesses and other private-sector borrowers increased their…
NNPC Profit Falls 47.9% to N279 Billion in July as Oil, Gas Output Drops
The Nigerian National Petroleum Company Limited (NNPC Ltd) recorded a sharp decline in profitability in July 2026, with profit after…
Aswani Family Expands Guinness Nigeria Stake as Tolaram’s Investment Gains $343m
The Aswani family of Singapore is continuing to increase its stake in Guinness Nigeria, even as the brewer’s share price…
Oil Price Surges Above $94 as US-Iran Conflict Raises Strait of Hormuz Fears
Oil prices surged above $94 a barrel on Tuesday as the escalating conflict between the United States and Iran sparked…
Hormuz Shipping Traffic Slumps as U.S.-Iran Strikes Send Oil Prices Higher
The Strait of Hormuz shipping traffic has dropped sharply as escalating tensions between the United States and Iran continue to…
Hedge Funds Flood CBN OMO Bills as Effective Yields Top 21%
Hedge funds and other yield-hungry investors are piling into Central Bank of Nigeria (CBN) Open Market Operations (OMO) bills, attracted…
August Stock Market: Haldane McCall, Access Holdings Lead Top Gainers as NGX Slips 0.44%
The Nigerian stock market ended August 2026 on a mixed note as the NGX All-Share Index (ASI) fell by 0.44%,…