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President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, has commended the leadership of Nigerian Exchange Group (NGX Group) for transforming Nigeria’s capital market. The African richest man made this known at the Facts Behind the Offer presentation and Opening Gong ceremony for the Initial Public Offering (IPO) of Dangote Petroleum Refinery and ...
The Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala has given reasons why Niger Delta state governments need to establish Special Economic Zones to drive industrialisation. Speaking during the inaugural Niger Delta Economic and Investment Summit at the Obi Wali International Conference Centre in Port Harcourt, Rivers State, Okonjo-Iweala said the Niger Delta ...
The Securities and Exchange Commission (SEC) has warned investors to be wary of fraudulent platforms and unauthorised agents seeking to collect applications or funds for the Dangote Petroleum Refinery IPO. The warning came on Monday as subscription opened for the refinery’s public offer, which is expected to attract significant interest from retail and institutional investors. ...
The National Agricultural Seed Council (NASC) and Foundation for Partnership Initiatives in the Niger Delta (PIND) have signed a two-year Memorandum of Understanding (MoU) to expand farmers’ access to certified seeds and quality planting materials. In a statement made available to the news reporters on Friday in Abuja by Anne Ihugba, its Manager, Knowledge Management ...
The Minister of Art, Culture, Tourism and Creative Economy, Hannatu Musa-Musawa, says the Federal Government is targeting two million jobs in the creative industry by 2030. Musa-Musawa stated this on Friday at the closing of the 2026 Kano Creative Summit, organised by the National Theatre to strengthen Nigeria’s creative economy and equip practitioners with skills ...
Enugu United Palm Products Limited (UPPL), a joint venture between Pragmatic Palms Limited and the Enugu State Government, has commenced commercial palm oil production for the Nigerian domestic market, while unveiling plans to expand downstream refining through a new agro-industrial complex. The Managing Director of the firm, Prof. George Nwangwu, disclosed the milestone on Monday ...
The Minister of State for Industry, Senator John Enoh, has highlighted the Federal Government’s renewed efforts to strengthen Nigeria’s industrial sector, saying the country now has a clear policy direction to drive production, value addition and economic growth. Enoh spoke during an interview on Arise Television, where he discussed the Nigerian Industrial Policy, the performance ...
Nigeria Real Estate Investment Trustfund (NREIT) has declared a massive surge in income for the first half of 2026 by over 350%. According to the fund’s unaudited second-quarter financial statements submitted to the Nigerian Exchange (NGX), the total income climbed by 357.26 percent to N7.97 billion in the six months ended June 30, 2026, up ...
The Dangote Petroleum Refinery and Petrochemicals FZE may offer its shares for sale at ₦525 following approval by the Securities and Exchange Commission (SEC). Recall that last week, SEC approved the commencement of the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE, paving the way for what could become one of the largest capital market transactions ...
Nigeria’s private-sector recovery gathered momentum in August 2026 as the Composite Purchasing Managers’ Index (PMI) rose to 52.7 points from 51.1 points in July. According to the latest survey released by the Central Bank of Nigeria (CBN), the reading marks the third consecutive month of overall business expansion and the highest headline level recorded since ...
The Federal Government has restated its commitment to deepening regional trade integration and promoting exports through the ECOWAS Trade Liberalisation Scheme (ETLS). The Minister of State for Foreign Affairs, Amb. Sola Enikanolaiye, stated this on Saturday in Bauchi at the ETLS sensitisation workshop for the North-East zone. The workshop was organised with the theme: “Increasing ...
The Nigerian Exchange Ltd. (NGX) All-Share Index and Market Capitalisation appreciated by 2.36 per cent and 2.40 per cent respectively to close the week at 246,992.44 points and N159.559 trillion. This compares with 241,298.47 points and N155.826 trillion recorded in the previous week. Consequently, equities market investors realised N3.733 trillion gain in the week under ...
The outgoing Executive Chairman of Kaduna State Internal Revenue Service (KADIRS), Mr Jerry Adams, says Gov.Uba Sani’s political will improved revenue generation and tax compliance. Adams made the disclosure while speaking at the ongoing 160th meeting of the Joint Revenue Board, taking place in Kaduna. He said the state’s Internally Generated Revenue (IGR) increased from ...
A Professor of Agricultural Economics at Kwara State University (KWASU), Malete, Taibat Moji Yusuf, has stated that with an estimated 140 million Nigerians living below the poverty line, coordinated action across multiple sectors has become an urgent necessity. Delivering the institution’s 23rd Inaugural Lecture on Wednesday, titled “Empowering Women Farmers in Nigeria: Closing the Gender ...
The Central Bank of Nigeria (CBN) cut spot rates on Nigerian Open Market Operation (OMO) bills across standard tenors at Tuesday’s primary market auction. To mop up excess liquidity in the financial system, the apex bank offered ₦1.00 trillion across three tenors to deposit money banks, retail investors, and foreign portfolio investors. The offering comprised ...
First City Monument Bank (FCMB) has been honoured by the Lagos Chapter of the Information Systems Audit and Control Association (ISACA) for its contributions to technology governance, cybersecurity, risk management, audit, assurance, and digital trust in Nigeria. The honour reflects FCMB’s partnership with ISACA to promote knowledge sharing, professional development, and stronger standards across Nigeria’s ...
The Federal Government has announced plans to tighten the process of preparing national budgets and prevent unrealistic economic projections from being used in future spending plans. The move followed a review which showed wide differences between some projections in previous budgets and what was actually achieved, particularly in oil production and government revenue. The Federal Ministry of Finance and the Federal Ministry of Budget and Economic ...
Strong performance across Nigeria’s productive sectors, driven by accelerated output in agriculture and manufacturing, propelled the country’s real Gross Domestic Product (GDP) growth to 4.43 per cent year-on-year in the second quarter of 2026. According to data released by the Federal Ministry of Finance on Tuesday, the industrial and agrarian expansion helped lift overall quarterly ...
PZ Cussons Nigeria Plc has announced a 22 percent increase in revenue to ₦260.46 billion for the financial year ended May 31, 2026, up from ₦212.63 billion reported in the corresponding period of 2025. According to the audited results announcement and corporate actions filed with the Nigerian Exchange Limited (NGX), the fast-moving consumer goods company demonstrated significant financial recovery and resilience ...
The National Institute of Credit Administration (NICA) says Nigeria’s reclassification by FTSE Russell and Moody’s positive outlook could strengthen capital inflows and deepen access to credit for businesses. Prof. Chris Onalo, NICA’s Registrar and Chief Executive Officer, said this in an interview with newsmen on Monday in Lagos. Newsmen report that Moody’s Ratings on Friday ...
The Centre for the Promotion of Private Enterprise (CPPE) has raised concerns over the sharp increase in petrol imports despite growing domestic refining capacity, warning that indiscriminate import approvals could undermine Nigeria’s emerging refining industry. CPPE stated that average Premium Motor Spirit (PMS) imports rose from 5.9 million litres per day in May 2026 to ...
The Nigerian Exchange (NGX) rebounded by 81 basis points this past week ended August 28, staging a sharp recovery from a two-week downtrend triggered by the Central Bank of Nigeria's removal of OMO bill restrictions. The NGX All-Share Index (ASI) edged up 0.81% week-on-week to close at 241,298.47 points, while total market capitalization expanded by ...
Global index provider, FTSE Russell has reclassified Nigeria’s capital market from unclassified back to Frontier Market status, effective from the opening of trading on Monday, September 21, 2026. The Federal Ministry of Finance welcomed the decision, which marks Nigeria’s return to the global Frontier Market index nearly three years after its removal in September 2023. ...
