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Nigeria’s push to expand electricity access beyond the national grid has received a fresh financing boost, with a $300 million investment vehicle now moving into commercial operations to fund distributed renewable energy projects. The Nigeria Distributed Renewable Energy Fund, co-managed by the Nigeria Sovereign Investment Authority (NSIA) and Africa50, reached its commercial launch milestone on ...
The Nigerian Exchange Ltd. (NGX) recorded a total turnover of 3.249 billion shares valued at N237.986 billion in 287,919 transactions during the week. This compares with 3.647 billion shares valued at N130.151 billion traded in 244,777 deals in the previous week. As a result, the value of transactions on the NGX rose by 82.9 per ...
The Federal Government and the Central Bank of Nigeria (CBN) have signed a Memorandum of Understanding (MoU) to institutionalize coordination between fiscal and monetary authorities, thereby strengthening Nigeria's macroeconomic management. The agreement was signed in Abuja on Friday by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, and the CBN Governor, ...
Group Managing Director of United Bank for Africa and Chairman of the Body of Bank CEOs in Nigeria, Oliver Alawuba, has outlined a blueprint for building a resilient Nigerian economy, calling for deliberate policies and stronger collaboration across the public and private sectors to transform economic stability into inclusive prosperity. Alawuba made the call while ...
Nigeria’s equities market extended its positive run on Thursday, with investors’ wealth rising by N1.178 trillion amid sustained buying interest in large and mid-cap stocks. The market capitalisation opened at N158.714 trillion and increased by N1.178 trillion, closing at N159.892 trillion. The All-Share Index (ASI) rose by 0.62 per cent, gaining 1,523.59 points to close ...
The Federal Government has commenced a comprehensive six-week review of Nigeria’s new tax laws to address implementation gaps, ambiguities, and unintended consequences that have surfaced since the legislation took effect in January. The initiative was launched on Thursday in Abuja by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, who inaugurated ...
Total revenue available for sharing among the three tiers of government suffered a notable decline in August, dropping significantly compared to the preceding month. At the Federation Account Allocation Committee (FAAC) meeting held in Abuja, a total sum of N2.338 trillion was approved for distribution to the Federal Government, State Governments, and Local Government Councils ...
Civil Society Organisations (CSOs), women farmers and others stakeholders in Nasarawa have commended the state government for involving citizens in the budget process through its annual Citizen Budget initiative. The stakeholders gave the commendation on Thursday in Lafia at a citizens’ budget town hall engagement organised by the Nasarawa State Ministry of Budget and Economic ...
The Nigerian stock market extended its positive momentum on Wednesday, marking the fifth consecutive bullish session. The market’s upward movement was driven by gains in equities like: Sovereign Trust Insurance, Champion Breweries, Livestock Feeds, Learn Africa, Mutual Benefits and 29 other stocks. The market capitalisation increased by 0.20 per cent, adding N315 billion to investors’ ...
Prominent boardroom leader and Group Chairman of Odu'a Investment Company Limited, Otunba Bimbo Ashiru, has been conferred with the prestigious Special Achievement Award by PSRG-RICHARDSON at the 18th Edition of the Health, Safety, Security and Environment (HSSE) Forum 2026. The award recognizes Ashiru’s decades-long track record of impactful leadership across both the private and public ...
The Kwara State Government has called for the integration of procurement considerations into the budget preparation process to enhance efficiency, improve the accuracy of budget estimates, and strengthen expenditure management. This development will promote value for money in the utilization of public resources and strengthen public procurement processes across the state. During a visit by ...
FCMB Group Chief Executive Ladi Balogun has declared that the Dangote Petroleum Refinery and Petrochemicals FZE initial public offering (IPO) opens a rare door for everyday citizens. With the IPO offering 4.1 billion ordinary shares at ₦525 each and a low minimum subscription of just ₦5,250, Balogun noted that the offering breaks down traditional barriers ...
Nigeria’s external trade position experienced a significant boost in the second quarter of 2026, with total merchandise trade expanding by 19% quarter-on-quarter and 6% year-on-year to reach ₦41.4trn, according to data from the National Bureau of Statistics. This growth was primarily propelled by a surge in exports, which climbed 28% from the previous quarter and 19% year-on-year to ₦27.0trn. Conversely, import trade grew at a much slower pace of 6% quarter-on-quarter, while dropping 13% year-on-year to ₦14.4trn. ...
...as food inflation moderates to 19.57% Nigeria’s headline inflation rate eased marginally to 15.39 per cent in August 2026 from 15.43 per cent recorded in July, according to the National Bureau of Statistics (NBS). The NBS disclosed this in its Consumer Price Index (CPI) report for August 2026 released on Tuesday. The latest figure represents a 0.04 percentage point decline from the July inflation rate and a significant drop from ...
World Trade Organisation (WTO) Director-General, Dr Ngozi Okonjo-Iweala, has announced the launch of the first edition of the World Trade and Tech Day, aimed at strengthening discussions around artificial intelligence (AI), technology, and international trade. Okonjo-Iweala disclosed this in a post on Monday, September 14, 2026, explaining that the initiative was introduced in response to ...
Africa’s Global Bank, United Bank for Africa (UBA) Plc, has been named as an authorised financial institution through which eligible investors can subscribe to acquire shares of the highly anticipated Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE. This means that UBA can provide investors with access to the landmark public offer, ...
Nigeria has made a historic return to J.P. Morgan’s emerging market bond benchmarks after an 11-year absence, following the inclusion of selected Federal Government of Nigeria (FGN) Bonds in the newly introduced Government Bond Index–Emerging Markets Edge (GBI-EM Edge). The milestone comes on the back of widespread economic reforms championed by President Bola Ahmed Tinubu's administration, which have successfully stabilised the naira, cleared foreign exchange backlogs, and ...
The Debt Management Office (DMO), on behalf of the Federal Government, has announced an offer of two FGN bonds valued at one trillion Naira for subscription at N1,000 per unit. According to a statement by the DMO on Monday in Abuja, the first offer is a new, 10-year FGN bond, due Sept. 2036, and valued ...
The Dangote Petroleum Refinery on Monday has opened its ₦2.15trillion initial public offering (IPO), in what is being positioned as the largest share sale in Africa and one of the biggest capital market transactions in Nigeria. The offer, which opened at the Nigerian Exchange (NGX), involves 4.1 billion new ordinary shares of Dangote Petroleum Refinery ...
President of Dangote Industries Limited, Alhaji Aliko Dangote has revealed that the Dangote Refinery is evidence that African companies can deliver projects that global scale. The African richest man made this known during the 2026 Africa-Diaspora Leadership Programme (ADLP), held in Lagos, where a select group of young global leaders, trailblazers and emerging change-makers gathered to ...
Dangote Petroleum Refinery & Petrochemicals FZE has announced the commencement of its Initial Public Offering (IPO), marking a historic milestone in Nigeria's economic development and the evolution of Africa's capital markets. The offer will be formally launched at a ceremony on the trading floor of the Nigerian Exchange (NGX) in Lagos, bringing to the public, ...
Four leading Nigerian banks have invested over ₦119 billion in technology and digital infrastructure during the first quarter of 2026, marking a 43.2 percent year-on-year increase. The investment was highlighted by United Bank for Africa (UBA) Group Managing Director and Chairman of the Body of Bank CEOs in Nigeria, Oliver Alawuba, while delivering a goodwill speech at the 19th Annual Banking and Finance ...
Nigeria's President, Bola Ahmed Tinubu has called for a more representative, equitable and responsive global governance architecture and international financial system, restating Nigeria’s support for institutions that reflect contemporary economic and demographic realities. Represented by the Vice President, Senator Kashim Shettima on Sunday at the ongoing 2026 BRICS Summit, the President called for an urgent overhaul of global governance structures and international financial institutions. Speaking at the summit in New Delhi, India, ...
