Nigeria’s capital market has grown from a modest market dominated by government securities at independence into a multi-trillion-naira financial ecosystem with equities market capitalisation now exceeding N163 trillion, Prof Uche Uwaleke has said. Uwaleke, Director of the Nasarawa State University Institute of Capital Market Studies and President of the Capital Market Academics of Nigeria, gave …
The Nigerian National Petroleum Company Limited (NNPCL) has reported a 33 per cent increase in profit after tax (PAT) to ₦7.2 trillion in 2025, despite a 24 per cent decline in revenue to ₦34.5 trillion. The company, in its audited financial results for the year ended December 31, 2025, released on Tuesday, said the profit …
Nigerian businessman Aliko Dangote has said Dangote Fertiliser Ltd, the fertiliser arm of the Dangote Group, could be listed on the Nigerian Exchange Group (NGX) next year as the conglomerate expands its plans to bring more of its businesses to the public market. Dangote disclosed the plan on Tuesday at an investor meeting at the …
Dangote Industries Limited has secured the highest possible national credit rating of AAA(NG), with rating agency GCR Ratings citing the successful ramp-up of the Dangote Petroleum Refinery to full capacity as a major driver of the upgrade. GCR upgraded the Group’s long-term issuer rating by four notches from A+(NG) to AAA(NG), while its short-term issuer …
Nigeria’s power sector recorded a total financial loss of N128.41 billion in July 2026 due to unbilled energy and collection losses by the electricity distribution companies (DisCos), highlighting the persisting liquidity crisis in the sector. This was disclosed in the report on July 2026 Commercial Performance of Distribution Companies released on Thursday by the Nigerian …
Princess Adeyinka Tekenah saw an opportunity in a market where about 90 per cent of the coffee consumed in Nigeria was imported. With a $5,000 seed grant from the Tony Elumelu Foundation (TEF) in 2015, she launched Happy Coffee, a business that has since served more than 30,000 cups of coffee, generated over ₦90 million …
The Securities and Exchange Commission (SEC) will launch a new 10-year strategy for Nigeria’s capital market alongside a National Savings Scheme at its 2026 National Capital Market Conference on October 19 in Abuja. The conference, scheduled to be held at the Banquet Hall of the Presidential Villa, will bring together key stakeholders from the public …
Dangote Cement, MTN Nigeria and Aradel account for 61.5 per cent of the ₦67.01 trillion market value represented by FTSE Russell’s 10 Nigerian large-cap stocks, exposing the concentration behind the country’s return to the global frontier market. Nigeria’s return to FTSE Russell’s Frontier Market universe will give global investors access to 10 of the country’s …
Nigerians living abroad and eligible foreign investors may also participate in the Dangote Petroleum Refinery and Petrochemicals Free Zone Enterprise public offer, but access depends largely on meeting Nigeria’s identification and banking requirements. Pinnacle Daily reports that the refinery is offering 4.1 billion new shares at an indicative price of ₦525 each, with a minimum …
Foremost economist and Chief Executive Officer of Financial Derivatives Company (FDC) Limited, Mr Bismarck Rewane, has urged Nigerians to invest in the Dangote Refinery, stating that investment would offer more value in the long run than selling their Permanent Voter Cards (PVCs) during elections for quick financial gain. Pinnacle Daily had reported that Dangote Refinery …
