Funds to boost irrigation, electricity projects Niger has secured more than 60.6 billion CFA francs about $105 million in fresh financing from the West African Development Bank (BOAD) to support irrigation and electricity projects, despite its withdrawal from the Economic Community of West African States (ECOWAS). The financing package includes 30 billion CFA francs …
The National Assembly on Tuesday commended the Securities and Exchange Commission (SEC) for strengthening its revenue base and fiscal sustainability, while urging the regulator to surpass its 2026 revenue target by at least 20 per cent. The commendation came during the 2026 Revenue Monitoring Exercise with the Commission in Abuja, where the Deputy Chairman of …
Lower electricity output dragged Transcorp Group's half-year earnings, while manufacturers such as Unilever Nigeria and Guinness Nigeria returned stronger profit growth as lower foreign exchange losses eased pressure on their bottom lines. Pinnacle Daily can report. Its analysis of the H1 2026 financial results of Transcorp Group, Transcorp Hotels, Unilever Nigeria, Guinness Nigeria, Fidson Healthcare …
Nigeria's ambitious Industrial Policy 2025 faces implementation concerns as millions of small businesses struggle to survive harsh operating conditions. The Chairman of the Alliance for Economic Research and Ethics, Dele Kelvin Oye, raised the concern. According to him, Nigeria's Industrial Policy 2025 (NIP2025) risks failing to achieve its objectives unless the government closes the gap …
The Nigerian stock market returned to positive territory in the week ended July 24, reversing the mild setback recorded in the previous week as investors renewed buying interest in banking and industrial stocks, pushing the benchmark index and market capitalisation to fresh highs. The Nigerian Exchange (NGX) All-Share Index (ASI) gained 1.60 per cent to …
Businesses are yet to reap the benefits of Nigeria's improving macroeconomic stability as borrowing costs remain stubbornly high despite signs that the Central Bank of Nigeria (CBN) is making progress in its fight against inflation. The CBN's decision to retain the Monetary Policy Rate (MPR) at 26.5 per cent at its July Monetary Policy Committee …
Dangote Petroleum Refinery has raised $2.5 billion in fresh equity through a private placement that attracted almost $4 billion in investor demand, in what the company says is Africa's largest publicly disclosed primary equity placement by value. The offer closed 3.7 times oversubscribed against its original target, the refinery's operating company, Dangote Petroleum Refinery and …
Dangote Petroleum Refinery and Petrochemicals has successfully closed a landmark $2.5 billion private equity placement, marking what is believed to be Africa's largest publicly disclosed primary equity private placement by value. In a statement released on Thursday, the company said the offering, which was oversubscribed by 3.7 times relative to the initial offer size, represents …
Türkiye and Nigeria have launched the Türkiye–Nigeria Shipbuilding and Maritime Digital Exhibition and Forum 2026, a joint initiative aimed at strengthening bilateral cooperation in shipbuilding, maritime infrastructure, investment and skills development. The forum, which began on July 20, 2026, is supported by the Ministry of Industry and Technology of the Republic of Türkiye, coordinated by …
For many Nigerians, owning property in prime Lagos locations such as Lekki, Ikoyi or Victoria Island remains a lifetime ambition. Rising property prices, however, have placed such investments beyond the reach of most salary earners. But investment analysts say there is an alternative that allows retail investors to gain exposure to income-generating real estate without …
