In a strategic move to reclaim lost cargo traffic and bolster its position as a maritime powerhouse in Africa, the Nigerian Federal Government has approved certification and compliance processes for five proposed deep seaport projects. This initiative aims to address the significant cargo traffic losses Nigeria currently suffers to...
BUSINESS
Anambra State Government has issued a new directive requiring traders in the state’s 41 major markets to formally notify market authorities before closing their shops on market days. This measure aims to curb unauthorized shutdowns that have long disrupted commerce in the region. The directive was adnnounced through the...
Nigerian equities market closed higher on Friday, with investors gaining N344 billion as gains in Aluminium Extrusions, RT Briscoe, and Learn Africa lifted market value. The All-Share Index advanced to 249,712.37 points from 249,175.39 points recorded in the previous session. Equity capitalisation rose to N160 trillion from N159.7 trillion...
Nigeria’s Eurobond yields closed higher across most maturities on Thursday, reflecting cautious investor sentiment in the international debt market despite relatively stable bond prices, according to data released by the Debt Management Office (DMO). The DMO’s latest pricing sheet showed that Nigeria’s sovereign Eurobonds recorded yields ranging from 5.655...
Managing Director and CEO of Nigeria LNG Limited (NLNG) Adeleye Falade announced that NLNG’s Train 7 project is playing a pivotal role in enhancing Nigerian Content and expanding the country’s industrial capacity within the oil and gas sector. According to City BusinessNews report posted on May 22, the MD/CEO...
BUA Cement Plc has said its cement prices would decline as production and logistics costs ease. Speaking at the company’s 10th Annual General Meeting in Abuja on Thursday, Group Chairman, Abdul Samad Rabiu said recent economic reforms, particularly the stabilisation of the foreign exchange market, are improving planning and...
Nigerian Exchange (NGX) Limited rebounded on Thursday, as renewed buying interest in consumer goods and banking stocks lifted the equities market by 0.05 per cent, despite weak investor sentiment. Market capitalisation rose by N72 billion to close at N159.733 trillion, compared with N159.661 trillion recorded at the Wednesday session,...
Nigeria’s Eurobond market recorded a broad decline in yields across most maturities on Wednesday, May 20, 2026, reflecting improving investor sentiment toward the country’s sovereign debt instruments. Data released by the Debt Management Office (DMO) showed that yields on Nigeria’s outstanding Eurobonds ranged between 5.651 per cent and 8.152...
Nigeria’s Eurobond market recorded mixed performance on Tuesday, May 19, 2026, as yields on most long-dated instruments climbed despite strong price levels across several maturities, according to data released by the Debt Management Office (DMO). The DMO data showed that the country’s Eurobond yields ranged between 5.732 per cent...
In an era marked by global economic volatility, few nations have demonstrated the strength and foresight of Nigeria’s Central Bank and its Monetary Policy Committee (MPC). The recent decision to retain the Monetary Policy Rate (MPR) at 26.5%, maintain the Cash Reserve Requirement (CRR) for deposit money banks at...
First HoldCo Chairman Femi Otedola has announced plans to invest $100 million in Dangote Refinery as part of a $2 billion private placement ahead of its planned initial public offering. Otedola disclosed the move on Wednesday after leading First HoldCo executives on a tour of the refinery and fertiliser...
Dangote Cement Plc has rolled out multi-million naira empowerment programmes for farmers, women, and youths across its six host communities in Gboko Local Government Area of Benue State. The company said the initiative is designed to help beneficiaries expand businesses, raise agricultural output, and acquire vocational skills. According to...
Nigerian Exchange (NGX) closed in the red on 20 May 2026, with the All-Share Index shedding 2,571.7 points to settle at 249,063.7. The 1.02% decline pushed the benchmark index below the 250,000-point threshold, as selling pressure weighed on large-cap stocks with BUA Cement leading the drop, falling 10% to...
Central Bank of Nigeria (CBN) and commercial banks are reviewing the high volume of transaction alerts sent to customers and complaints about bank charges, CBN Governor Olayemi Cardoso said on Wednesday. Speaking after the 305th Monetary Policy Committee meeting in Abuja, Cardoso said many customers are confused by receiving...
Federal Government will begin deducting unremitted value-added tax and withholding tax directly from the revenue allocations of states, local governments, and federal ministries, departments, and agencies. Executive Director, Large Taxpayers and Government Directorate at the Nigerian Revenue Service, Amina Ado, announced the plan on Tuesday 19 May in Abuja...
President/Chief Executive of Dangote Industries Limited, Aliko Dangote, on Wednesday, 20 May, 2026 hosted Chairman of First HoldCo Group, Olufemi Otedola, alongside senior executives, at the Dangote Petroleum Refinery & Petrochemicals. More than a visit, the engagement reflects the growing alignment between Africa’s industrial and financial leadership around a...
By TOM CHIAHEMEN, Abuja – Against the backdrop of Abuja’s rapid urban expansion and rising appetite for smart infrastructure investments, Centenary City Plc has unveiled an ambitious package of incentives designed to attract early investors and developers into its sprawling 1,000-hectare Abuja Smart City project. The initiative, branded as...
The Nigerian All-Share Index closed higher on 19 May 2026, rising 1,324.1 points to settle at 251,635.4 and ending a four-session losing streak. Data from NGX showed 0.53% gain was driven by strength in BUA Cement and large-cap banking stocks. Trading volume climbed to 703.9 million shares, up from...
President of Dangote Group, Alhaji Aliko Dangote, has announced plans to transition into maritime and logistics, seeking to develop Africa’s largest and deepest seaport at the Olokola Free Trade Zone in Ogun State with discussions already underway with the Federal Ministry of Marine and Blue Economy. Alhaji Dangote disclosed...
Securities and Exchange Commission (SEC) has set June 1, 2026 as the date for Nigeria’s capital market to move to a T+1 settlement cycle for equities and commodities trades. The announcement, made in a notice dated May 18, outlines a framework for capital market operators and stakeholders to prepare...