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 …
Dangote Petroleum Refinery has warned that a return of petrol subsidies or fuel price controls could squeeze its refining margins, disrupt demand and make revenue forecasting more difficult. The warning was contained in the refinery’s prospectus for its proposed initial public offering (IPO), released on Thursday, where the company identified uncertainty in government fuel-pricing policies …
Nigeria’s economic activity strengthened in August, but the improvement masks a fragile industrial recovery, with 11 of the 16 industrial subsectors surveyed still operating in contraction. The warning is contained in the Central Bank of Nigeria’s (CBN) August 2026 Purchasing Managers’ Index (PMI), a monthly survey that tracks whether business activity is expanding or shrinking. …
Uber is not leaving Nigeria because it ran out of money. It is leaving while the global company is growing, generating billions of dollars in cash and preparing to pour more than $10 billion into autonomous mobility. Yet in Nigeria, the same platform that once estimated it supported ₦34 billion in economic activity has become …
As a ride-hailing giant exits Nigeria, millions of passengers face a new mobility reality while thousands of drivers and rival platforms scramble for what it leaves behind For 12 years, Uber was more than an app on the phones of Nigerian commuters. It became part of the country's changing transportation culture, a digital bridge …
Geregu Power Plc’s recent bond default has raised deeper questions about corporate cash availability, treasury management, and governance, with DataPro Limited arguing that the company’s reported ₦31.77 billion in short-term deposits did not necessarily translate into liquidity when its debt obligation fell due. In its Monthly Rating Brief for September 2026, titled “When Bonds Default: …
PZ Cussons Nigeria Plc staged a dramatic financial recovery in the year ended May 31, 2026, returning to positive equity and a net cash position through asset sales, foreign exchange gains, a major debt waiver from its UK parent, and strong growth in its core businesses. Pinnacle Daily's analysis of the company's audited financial statements …
Despite increasing its ex-depot price of Premium Motor Spirit (petrol), in the last one week, Dangote Petroleum Refinery’s cost still remains lower than imported products. Pinnacle Daily’s analysis of available trade data shows that the landing cost of imported petrol in Nigeria has risen above the ex-depot price offered by Dangote Refinery despite periods of …
Dangote Petroleum Refinery and Petrochemicals has increased the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, to ₦1,200 per litre from ₦1,185 sold previously. According to a notice sent to marketers on Tuesday, August 25, the revised petrol price takes effect from Wednesday, August 26, 2026. Apart from the gantry price increase …
