Nigeria's stock market extended its losing streak for a third consecutive week, with investors shedding another ₦1.8 trillion in value. This is even as trading activity rebounded sharply amid growing caution over upcoming economic events, expectations surrounding the Dangote Refinery listing and the release of second-quarter corporate earnings. For the trading week ended July 3, …
Dangote Petroleum Refinery has successfully issued its debut Eurobond, raising $750 million to strengthen its finances and optimize its debt ahead of a planned initial public offering (IPO). According to a report by Eurobond Africa, the five-year dollar-denominated bond is due in July 2031. Priced at par to yield 7.50 per cent, the transaction was executed through …
Investors on the Nigerian Exchange Limited (NGX) are set for another dividend season in July, with six listed companies scheduled to reward shareholders. Dangote Cement Plc led the July dividend season with a record N753.8 billion payout that signals strong corporate earnings despite a challenging business environment. The cement giant kicked off the dividend payments …
The Nigeria National Petroleum Company Limited (NNPC) revenue fell by 12.8 per cent in May 2026, dropping from ₦4.971 trillion in April to ₦4.335 trillion despite a rise in crude oil and condensate production to a one-year high. According to the NNPC Limited Monthly Report Summary for May 2026 released on Wednesday, the profit after …
Dr. George Elombi, President and Chairman of the Board of Directors of the African Export-Import Bank (Afreximbank), took questions from Pinnacle Daily and other reporters at a mid-year media roundtable at the Afreximbank African Trade Centre (AATC) in Abuja, which centered on rating agencies and the focus of the bank going forward. Except: Standard & …
Nigeria's First Lady, Oluremi Tinubu's advice to women to consider small-scale businesses such as selling akara, roasted corn and kuli-kuli, has continued to generate nationwide reactions. A video of the First Lady posted online showed her urging people to consider such small-scale businesses because they require little capital to start. What began as a simple …
The Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, has called for stronger collaboration between regulators and academics to strengthen the capital market. He made the call on Tuesday at the Second Biennial Conference of the Capital Market Academics of Nigeria (CMAN) in Abuja with the theme, 'The Nigerian Capital Market as a …
While the current administration rolls out ambitious tax reforms aimed at widening the net for revenue generation and boosting a historically low tax-to-GDP ratio, there are concerns about an invisible barrier—a deeply entrenched trust deficit. For decades, taxation has remained one of Nigeria's most contentious public policy issues. This, according to analysts, stems from the …
The Centre for the Promotion of Private Enterprise (CPPE) has warned that the Senate's proposed ban on textile fabric imports could put the livelihoods of an estimated 10 million Nigerians at risk. The group stressed that the measure would disrupt Nigeria's fashion, garment and furniture industries rather than revive local textile manufacturing. In a statement …
Investors on the Nigerian Exchange Limited (NGX) lost about ₦2.42 trillion in the just concluded week as the stock market extended its losing streak despite a rebound in major banking stocks. The market capitalisation of listed equities fell by 1.60 per cent to ₦148.905 trillion for the week ended June 26, 2026, from ₦151.327 trillion …
