Dangote Petroleum Refinery & Petrochemicals FZE is offering East African investors nearly 20 per cent of its initial public offering (IPO), seeking to raise up to $300.4 million from the region. The details are in an information memorandum released on Wednesday, after regulators in Kenya and Uganda cleared the way for eligible investors in both …
The African Union (AU) has launched the African Credit Rating Agency (AfCRA), an Africa-based alternative to the global rating firms that shape how investors price the continent's debt. The launch took place on Wednesday and was broadcast live on X by the African Peer Review Mechanism (APRM), the AU organ that coordinated the agency's set-up. …
The International Monetary Fund (IMF) has warned that the world is being pulled in two directions: a negative energy supply shock from conflicts in the Middle East, and a positive demand shock from artificial intelligence (AI) that is also fuelling inflation. Record public debt is shrinking governments' room to respond. IMF Managing Director Kristalina Georgieva …
The Chief Executive Officer (CEO) of Nigerian Exchange Limited (NGX), Jude Chiemeka, has been elected President of the African Securities Exchanges Association (ASEA), effective September 30, 2026. Chiemeka, who also chairs the West African Capital Markets Integration Council (WACMIC), succeeds Pierre Célestin Rwabukumba, CEO of the Rwanda Stock Exchange. His appointment comes as ASEA seeks …
NPF Pensions Limited says it is taking its services directly to police retirees through a WhatsApp platform that has already onboarded almost 100,000 officers, even as it widens its investment options to sustain returns after the recent reduction in the Monetary Policy Rate (MPR). The Acting Managing Director of NPF Pensions, Mr Mohammed Dutse, disclosed …
The Federal Government has cleared all inherited pension liabilities, some dating back to 2007, through an N758bn intervention bond, providing long-awaited financial relief to 957,045 beneficiaries across the country. The Director-General of the National Pension Commission (PenCom), Ms Omolola Oloworaran, announced this in her keynote address, titled "From Reform to Reality: Renewed Hope, Pension Security …
Nigeria’s banking sector will enter 2027 with stronger capital buffers but face a tougher test of how effectively banks deploy the funds raised during the 2026 recapitalisation exercise, according to DataPro. The rating agency, in its Monthly Rating Brief for October, said the recapitalisation had structurally strengthened the banking industry but warned that the next …
President Bola Ahmed Tinubu has defended his administration’s economic reforms, saying they are beginning to yield measurable results despite the difficulties faced by Nigerians. He cited more than $6 billion in non-oil export earnings, rising foreign direct investment (FDI) and stronger foreign exchange reserves as evidence of improved economic stability. Tinubu, who spoke in his …
As Nigeria marks 66 years of independence, Veteran Nollywood actor, Richard Mofe-Damijo, popularly known as RMD, and other leading voices from the creative, media and communications sectors have called for collective action by Nigerians to change negative perceptions about the country and build a strong national reputation. They made the call during Pivot Nigeria's second …
The distribution of Federation Account Allocation Committee (FAAC) revenue in the first half of 2026 exposed a wide gap in the funds available to Nigeria’s states and local governments, with Lagos receiving about 6.5 times more than Ekiti at the state level, and the highest-funded local government receiving 8.6 times more than the lowest. FAAC …
