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...
BUSINESS
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...
Dangote Petroleum Refinery has announced a reduction in the price of aviation fuel, popularly known as Jet A1, from ₦1,750 to ₦1,650 per litre in a move aimed at easing financial pressure on airline operators across Nigeria. The company disclosed this in a statement issued by its media team...
National Pension Commission (NPC) has granted Pension Fund Administrators a one-off waiver to invest contributors’ funds in the planned Initial Public Offering of Dangote Petroleum Refinery & Petrochemicals (FZE). The approval, issued in a circular to Pfas, temporarily removes requirements under Section 6.2.7.1 (iii) of the Revised Regulation on...
Debt Management Office (DMO) is back in the domestic market today Monday, 18 with a N600 billion bond reopening, led by the government’s most active long-dated security, the 22.60 percent FGN January 2035 bond. According to the DMO announcement, the offer is split into two tranches of N300 billion...
Nigeria Revenue Service (NRS) has launched a Unified Taxpayer Identification System for all taxable persons, marking a major step in its push to modernize tax administration. The rollout was announced Monday 18 by the NRS and the Joint Revenue Board (JRB) under Sections 6, 7 and 8 of the...
NNPC Foundation, the Corporate Social Responsibility (CSR) arm of NNPC Ltd., has commissioned and handed over a fully installed 1.5 Tesla Magnetic Resonance Imaging (MRI) System to the Nnamdi Azikiwe University Teaching Hospital (NAUTH), Nnewi, Anambra State. The intervention, which is in furtherance of NNPC Ltd’s commitment to improving...
The legal fight between Union Bank and the Central Bank of Nigeria (CBN) is now centered on control of the bank, but for customers the immediate question is whether daily banking will be affected. On March 25, 2026, the Federal High Court in Lagos nullified the CBN’s January 2024...
The Nigerian equities market further experienced a significant downturn on Friday, with investors collectively losing N1.2 trillion by the close of trading. Data from the Nigerian Exchange Group explained that the slump was driven by notable declines in the share prices of several key stocks, including Zichis, FTN Cocoa,...
Justice Peter Lifu of the Federal High Court in Abuja has faulted the conduct of plaintiff Johnmary Jideobi and his lawyer, Ndubuisi Ukpai, in a suit seeking to stop former President Goodluck Jonathan from contesting the 2027 presidential election. The judge described their repeated absence and failure to move...
Nigeria’s headline inflation rate rose to 15.69% in April 2026, up from 15.38% in March, according to Consumer Price Index data released on Friday by the National Bureau of Statistics. On a month-on-month basis, the headline inflation rate slowed to 2.13% from 4.18% in March. This shows a slower...
At the ongoing Africa CEO Forum in Kigali themed “Scale or Fail: Why Africa Must Embrace Shared Ownership,” NNPC Ltd’s Executive Vice President, Gas, Power & New Energy, Olalekan Ogunleye, yesterday joined global CEOs on the African Oil and Gas Coalition’s Strategic Roundtable to discuss the topic ‘Gas without...
As demand grows for cleaner and more cost-effective energy solutions, Shell Nigeria Gas (SNG) has rallied industry leaders and investors in Port Harcourt to accelerate the adoption of natural gas as a catalyst for industrial growth, improved productivity, lower operating costs, and stronger business competitiveness. The forum coincided with...
Nigeria’s stock market ended Thursday on a softer note as investors shed N169.9 billion following mild profit-taking across key sectors on the Nigerian Exchange Limited (NGX). Market capitalisation declined from N161.84 trillion recorded on Wednesday to N161.67 trillion at the close of trading on Thursday. The All-Share Index (ASI)...
In a strategic move to bolster its leadership team, First Bank of Nigeria Limited has appointed Dr. Julius Omodayo-Owotuga as an Executive Director, effective May 13, 2026. The appointment was disclosed Thursday in a public notice filed with the Nigerian Exchange Limited and signed by Company Secretary Abiola Baruwa...
President Bola Tinubu’s economic and investment drive received a further boost on Thursday, as world-class port operator APM Terminals pledged a $600 million investment in Nigeria’s maritime sector. Regional President, APM Terminals Africa-Europe, Igor van den Essen, disclosed this when he led other executives, including Head of Investments, APM Terminals,...
The Internationial Finance Corporation would immediately send a mission to Nigeria to explore scalable investment structures that could unlock private capital into the sector. Managing director of the Corporation, Diop Makhtar, announced this in Kigali, Rwanda, on Thursday, during a meeting with Nigeria’s President Bola Tinubu on the sidelines of...