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African nations must end the longstanding cycle of exporting raw mineral resources only to buy back finished products at premium prices, the Chair of the Africa Mineral Strategy Group and Nigeria's Minister of Solid Minerals, Dr Dele Alake has urged during the African Development Bank Ministerial Forum in Abidjan. Addressing fellow ministers and key industry ...
By Imisioluwa Afunmiso The Lagos State Government has been recognized on the continental stage after winning the Best Green Bond in Africa at the EMEA Finance Achievement Awards for its debut N14.815 billion Green Bond issuance. The award, presented in London, was received on behalf of the state by the Country Head of the Public Sector Group at Stanbic IBTC, Mrs. Hauwa Bello, before being formally ...
The Federal Government of Nigeria has reaffirmed its strategic partnership with the International Monetary Fund (IMF) during a send-off dinner organized in honor of the Fund’s outgoing Resident Representative, Dr. Christian Ebeke. Speaking at the event in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, praised Ebeke for his ...
By Taiwo Scholarstica The Centre for the Promotion of Private Enterprise (CPPE) has said the newly imposed 12.5 per cent tariff by the United States on imports from Nigeria is unlikely to have a major impact on the country’s economy. The policy think-thank made the assessment in a policy brief signed by its Chief Executive Officer, Dr Muda Yusuf, on Sunday, following the decision ...
The Federal Government has inaugurated an Inter-Ministerial Committee to develop the 2026 Value Added Tax (VAT) Modification Order to support implementation of Nigeria’s tax reforms. This is contained in a statement on Saturday in Abuja by Efe Ovuakporie, the Head, Information and Public Relations in the Federal Ministry of Finance. According to the statement, the ...
By Precious Mark Africa’s largest building materials manufacturer, Dangote Cement Plc, has prioritized the London Stock Exchange (LSE) over the Dubai Financial Market for its long-awaited international secondary listing. The decision follows a strategic evaluation that found the United Kingdom market far more compatible with the company’s business model and growth timeline. Speaking in an ...
The Nigerian Exchange Group (NGX Group) has urged African countries to play a more active role in shaping global capital markets. The group called for stronger, innovative and integrated financial systems capable of supporting Africa’s long-term economic transformation. The call is contained in a statement issued by NGX Group on Friday and made available to ...
The Central Bank of Nigeria (CBN) has increased spot rates on Treasury bills at its midweek primary market auction conducted by the Debt Management Office (DMO). The auction recorded significant investor interest, receiving about ₦1.6 trillion in aggregate subscriptions across three offered tenors: ₦100 billion in 91-day bills, ₦100 billion in 182-day bills, and ₦500 ...
The Debt Management Office (DMO) under-allotted Federal Government of Nigeria (FGN) bonds to investors despite high subscription levels at Monday's auction. The authority held its monthly bond auction offering three tenors worth ₦1.2 trillion to fund the government’s 2026 budget deficit. The reopening offer included debt instruments with January 2035, April 2037, and June 2038 ...
Ikeja Hotel Plc has reported a 30.5% growth in Profit After Tax to ₦4.06 billion for the half-year ended June 30, 2026, supported by strong room occupancy and higher finance income. The hotel operator's second-quarter financial statement filed with the Nigerian Exchange shows that total revenue for the first six months of 2026 grew to ...
BUA Cement Plc has posted an 80% jump in Profit After Tax to ₦324.88 billion for the half-year period ended June 30, 2026, driven by entry into new market segments, operational efficiency, and tight cost discipline. According to the company's unaudited H1 2026 financial statement submitted to the Nigerian Exchange, total revenue climbed 25.6% to ...
Dangote Petroleum Refinery and Petrochemicals FZE has officially announced the successful completion of a landmark private equity placement, raising approximately US$2.5 billion in new equity. The transaction saw intense demand from global and regional financial markets, achieving a 3.7 times subscription relative to the initial offer size. The deal stands as Africa's largest publicly disclosed ...
The Central Bank of Nigeria (CBN) has retained its benchmark Monetary Policy Rate (MPR) at 26.5 percent, signaling a steady monetary stance as it balances domestic economic momentum against lingering global uncertainty. The decision was announced by CBN Governor Olayemi Cardoso following the conclusion of the 306th meeting of the Monetary Policy Committee (MPC) in Abuja. Along with the ...
The Board of Directors of the Central Securities Clearing System (CSCS) Plc has approved an interim dividend of ₦1 per ordinary share for the six months ended June 30. The company disclosed this in a statement issued on Monday in Lagos. According to the statement, the payout of the company’s first interim dividend reflects its ...
...as benchmark index advances by 1.12% The Nigerian equities market opened the week on a strong note on Monday, July 20, 2026, extending the previous session's gains. Sustained buying interest in banking, industrial, insurance, and other large-cap stocks pushed the benchmark index to a fresh record high and significantly boosted investors' wealth. The benchmark NGX All-Share Index (ASI) advanced by 1.12% to ...
Shareholders of BUA Foods Plc have overwhelmingly approved a record-breaking dividend payment of ₦504 billion for the 2025 financial year. The approval was the focal point of the company’s 5th Annual General Meeting (AGM) held on July 15, 2026, at the Transcorp Hilton Hotel in Abuja. This payout translates to a whopping ₦28.00 per ordinary ...
Africa Prudential Plc has announced its unaudited financial results for the half-year ended June 30, 2026, delivering a a Profit Before Tax (PBT) of ₦2.407 billion. This represents an outstanding 89% increase compared to the ₦1.272 billion recorded in the corresponding period of 2025. The company’s performance for the period was largely driven by an aggressive ...
Transcorp Power Plc has released its unaudited financial statement for the second quarter of 2026, demonstrating sustained operational momentum and robust revenue generation amidst a challenging macroeconomic landscape. The results solidify the power generation giant’s position as a critical driver of Nigeria's energy sector.Building on its stellar FY 2025 performance where revenue hit an impressive ₦398.3 billion the power generating company recorded solid growth in ...
The Nigerian stock market rebounded on Thursday after a one-day downturn as investors recorded gains of N849 billion following renewed buying interest in equities. Market sentiment improved on the back of demand for stocks such as Firstholdco, Haldane McCall, Livingtrust Mortgage Bank, WAPIC, Lasaco Assurance and 28 other equities, which pushed the market into positive ...
The Centre for the Promotion of Private Enterprise (CPPE) has declared that Nigeria's ongoing inflation challenge is predominantly structural rather than monetary, urging the government to pivot its focus away from further interest rate hikes. Reacting to the June 2026 inflation figures released by the National Bureau of Statistics (NBS), the policy think-tank argued that the current economic realities require aggressive fiscal and supply-side ...
The Vice President of Nigeria, Senator Kashim Shettima, has launched the Niger Delta Agricultural Development and Investment Fund and inaugurated a Coordinating Council for agricultural development and investment in the Niger Delta region. Speaking during the Niger Delta Agricultural Development and Investment Summit, at the Banquet Hall of the Presidential Villa, Abuja, Senator Shettima said that the summit was tied directly to President Bola Ahmed Tinubu’s agrarian programme under the Renewed Hope Agenda. He noted that the summit would ...
Guaranty Trust Bank Ltd, the flagship banking subsidiary of Guaranty Trust Holding Company Plc (GTCO) has been named the Best Overall Performing Bank in Nigeria in The Banker magazine's Top 1000 World Banks Rankings 2026. The recognition reaffirms GTBank's position as one of Nigeria's leading financial institutions and reflects the Bank's consistent delivery of strong financial performance, operational excellence, and sustainable growth. The rankings evaluate banks globally using ...
Investors lost more than ₦1.3 trillion on Monday as the Nigerian Exchange (NGX) opened the trading week on a negative note, marking its second consecutive bearish run. High-intensity bearish activities dominated the local bourse, dragging key market performance indicators lower by 84 basis points. The downward trend, which began last week, extended into Monday’s session due to aggressive ...
