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 …
Billionaire investor and Chairman of First HoldCo Plc, Femi Otedola, has seen the value of his investment in the financial services group rise by about $221 million (over ₦330 billion at current exchange rates) in just three weeks, highlighting the rewards—and risks—of long-term investing in Nigeria's equities market. According to an analysis of Nigerian Exchange …
The Nigerian Exchange Limited (NGX) ended the week of July 17 on a mixed note, with a strong rally in banking stocks cushioning losses in the broader market as industrial counters weighed heavily on performance. Although the All-Share Index (ASI) slipped 0.14 per cent to close at 243,462.13 points, investors' wealth increased as market capitalisation …
The Securities and Exchange Commission (SEC) said it has begun a nationwide campaign to help Nigerians recover unclaimed dividends and other funds arising from capital market transactions. It made this known in a statement on Thursday, saying that it is unacceptable for investors' money to remain unclaimed. According to the SEC, the campaign began with …
The Bank of Agriculture (BoA) has raised concerns that Nigeria's deepening energy poverty is undermining food security, agricultural productivity and rural livelihoods, warning that millions of Nigerians and thousands of farming communities remain without reliable electricity. The warning was issued during a capacity-building workshop on the Clean Energy Access Framework (CEAF) for BoA staff in …
High and multiple taxation, insecurity, and elevated interest rates remained the biggest challenges facing Nigerian businesses, according to the Central Bank of Nigeria (CBN). It revealed this in its latest Business Expectations Survey (BES) for June 2026, conducted by the CBN's Statistics Department with responses from 1,900 businesses with a 96.5 percent response rate. The …
