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Business Direct
To unlock Africa's full potential and drive widespread prosperity, Tony Elumelu, a leading African business leader argues that a fundamental shift is necessary: we must deliberately align capital with vision. Elumelu who is the Chairman of Heirs Holdings, United Bank for Africa (UBA) and Transcorp Group made the call while delivering a keynote address titled “Private Sector ...
Business Direct
The Group Managing Director and Chief Executive Officer of the Nigerian Exchange Group (NGX Group), Temi Popoola, has credited Nigeria’s ongoing economic reforms for the renewed investor confidence and historic rally in the equities market, which has pushed market capitalization close to the N100 trillion mark. Speaking at the Financial Times Africa Summit 2025 in ...
Capital Market
The Nigerian capital market is buzzing with anticipation for what could be its most significant listing to date, as the Dangote Group announced plans to offer up to 10% of its massive refinery on the Nigerian Exchange (NGX) Limited within the next year. This strategic move, confirmed by President of Dangote Industries Limited, Alh.Aliko Dangote, ...
Capital Market
Aso Savings & Loans, Skyway Aviation Handling Company (SAHCO) Plc, and Ucfg vPDC Real Estate Investment Trust (REIT) emerged as the major drivers of the N1.4trn gain on the Nigerian equities market yesterday. Investors had a renewed buying interest in financial and industrial stocks. The benchmark All-Share Index (ASI) climbed by 2,279.34 points, or 1.5 percent, ...
News
The Chartered Institute of Logistics and Transport (CILT) Nigeria has announced a remarkable 242 percent increase in its revenue over the past four years, reflecting the success of its financial reforms and governance initiatives. This was disclosed on Tuesday by President and Chair of Council, Mrs. Mfon Ekong Usoro while delivering her welcome address at ...
Money market
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, will lead Nigeria’s delegation to the World Bank and International Monetary Fund (IMF) Annual Meetings scheduled to begin on Monday, October 13, 2025, in Washington, D.C. This was stated in a statement signed by the Special Adviser to the President on Information and ...
Capital Market
Investors in the Nigerian equities market recorded a gain of N963 billion at the close of trading on Tuesday, buoyed by renewed buying interest in major stocks such as Scoa Nigeria, Omatek Ventures, and Consolidated Hallmark Plc. At the end of the trading session, the All-Share Index (ASI) climbed to 151,456.91 points from 149,940.81 points ...
Business Direct
The Minister of Marine and Blue Economy, Dr. Adegboyega Oyetola, has reiterated the Federal Government’s unwavering commitment to strengthening Nigeria’s indigenous shipping industry, declaring that there is no going back on efforts to reposition local operators for global competitiveness. Oyetola made this known on Tuesday in Abuja when he received a delegation from the Nigeria ...
Maritime and Blue Economy
SIFAX Shipping Inland Container Terminal (ICT) is set to embark on the construction of a quay wall to enable direct vessel calls, a strategic move expected to significantly ease congestion at the nation’s seaports and redefine inland terminal operations. SIFAX ICT Limited, a subsidiary of SIFAX Group made this known when it celebrated its fifth anniversary, ...
Maritime and Blue Economy
The Nigerian Maritime Administration and Safety Agency (NIMASA) has carried out a strategic management staff redeployment, affecting a total of 56 personnel, in a decisive move to enhance operational efficiency, improve service delivery, and strengthen its core mandate within the maritime sector. The agency’s Director General, Dr. Dayo Mobereola, stated that the exercise is aimed ...
Capital Market
Investors in the Nigerian equities market gained N611 billion at the close of trading on Monday, driven by strong performances in the shares of Union Dicon Salt Plc, Eunisell Interlinked Plc, and Sovereign Insurance, among others. The benchmark All-Share Index (ASI) rose by 963.17 points, or 0.65%, to close at 149,940.81 points, compared to 148,977.64 ...
Aviation
Nigeria’s domestic airline capacity grew by 6% year-on-year, rising from 642,717 seats in October 2024 to 681,204 seats in October 2025, according to data from OAG’s Africa Aviation Market, Monthly Airline Data Updates. The report reaffirms Nigeria’s position as Africa’s second-largest domestic aviation market, behind South Africa, underscoring a steady recovery in local air travel ...
Money market
Seplat Energy Plc, a prominent integrated Nigerian oil and gas firm, reported a spectacular top-line surge in its half-year 2025 (H1 2025) results, driven by significantly higher crude oil output, improved realized prices, and increased gas sales volumes. Despite this remarkable 276.79 per cent rise in revenue to ₦2.17 trillion from ₦575.05 billion in H1 ...
Business
The Naira closed the trading week on a downward trajectory, depreciating to N1,475.35 per U.S. dollar at the official foreign exchange market on Friday. Data released by the Central Bank of Nigeria (CBN) confirmed this figure, which represents a 0.29 per cent decline, or a N4.32 loss, from Thursday’s exchange rate of N1,471.02 per dollar. ...
Capital Market
The Securities and Exchange Commission (SEC) of Nigeria has cautioned the public against investing in a digital token known as “Shalom Coin (SHLM)”, citing high risks of fraud and lack of regulatory approval. In a disclaimer issued over the weekend, the Commission stated that Shalom Coin is being promoted as an investment opportunity allegedly issued ...
Capital Market
The fixed income market on the Nigerian Exchange Limited (NGX) witnessed a mild downturn during the week as market capitalization for bonds dipped by 0.11 per cent to N51.45 trillion, driven largely by profit-taking following weeks of sustained buying pressure. Data obtained from the NGX showed that the slowdown came after an earlier rally in ...
News
Governor Babajide Sanwo-Olu on Friday unveiled the Omi-Eko Project, a multi-billion-naira initiative designed to revolutionise water transportation in Lagos State and ease the city’s chronic road congestion. Speaking at the official launch held at the Five Cowries Terminal, the governor described the project as “a new chapter in Lagos history” one that redefines the state’s ...
Capital Market
The Federal Government of Nigeria (FG), acting through the Debt Management Office (DMO), successfully raised a total of N3.96billion from the October 2025 issuance of the Federal Government of Nigeria Savings Bonds (FGNSB). This result reflects a notable rise in retail investor participation compared to the previous month. The DMO offered two tranches for the ...
Business Direct
The International Monetary Fund (IMF) has recognized Sub-Saharan Africa for demonstrating resilience in the face of challenging global economic conditions, which include slowing global growth, fluctuating commodity prices, and tight financing markets. This commendation came from Abebe Selassie, Director of the IMF’s African Department, during a news conference on the Regional Economic Outlook for Sub-Saharan ...
Capital Market
Investors in the Nigerian equities market gained N389 billion at the close of trading on Thursday, driven by renewed buying interest in banking and technology stocks. The benchmark All-Share Index (ASI) surged to 148,355.04 points, up from 147,742.22 points recorded on Wednesday, while the market capitalisation increased to N94.1 trillion from N93.7 trillion, reflecting a ...
