- Economy
At 23.68%, Lagos emerges highest inflation rate state in Southwest geopolitical zone
Currently at 23.68 per cent as of August 2026, Lagos state leads five other south west states as the highest inflation rate state of all-Items on a Year-on-Year (YoY) basis, followed by Osun state that closed at 16per cent. This is according to the latest Consumer Price Index report of the National Bureau of Statistics (NBS). In August 2026, the…
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BREAKING: Nigeria’s headline inflation rate drops to 15.39% in August 2026, says NBS
The National Bureau of Statistics (NBS) on Tuesday disclosed that Nigeria’s headline inflation moderated by four basis points to 15.39 per cent in August from 15.43 per cent in July 2026. According to the NBS report, the movement in August 2026 Headline inflation rate showed a decrease of 0.04 per cent compared to the July 2026 Headline inflation rate. “On…
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Dangote refinery N215trn IPO: SEC warns investors against unauthorised channels
The Securities and Exchange Commission (SEC) has warned investors against fraudulent platforms and unauthorised agents seeking to receive applications or funds for Dangote refinery’s initial public offering (IPO). The commission issued the warning on Monday as the IPO opened for subscription, urging investors to use only officially approved receiving agents and subscription channels. “Obtain information about the IPO only from…
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My greatest risk was building refinery, fertilizer plants, says Dangote
The President of Dangote Industries Limited, Aliko Dangote on Tuesday revealed that building the Dangote Petroleum Refinery and Petrochemicals FZE emerged as his greatest risk, stressing that the risk has paid off since nobody gave the group a chance. . Speaking on AriseTV, he noted dollarized businesses amid foreign exchange loss was another risk the company took. “This risk really…
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N2.15trn IPO to democratise wealth creation, says Dangote
President and Chief Executive Officer of Dangote Industries Ltd., Alhaji Aliko Dangote , on Monday said the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals (FZE) will democratise wealth creation. Dangote said this at the “Facts Behind the Offer” presentation and opening gong ceremony for the refinery’s IPO in Lagos. The ceremony witnessed the Nigerian Exchange Ltd. formally…
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Nigeria returns to JP Morgan’s global bond index after 11 years
JP Morgan has included Federal Government of Nigeria (FGN) bonds in its freshly launched Government Bond Index–Emerging Markets Edge (GBI-EM Edge), relaunching the country into the bank’s bond benchmark after 11 years. The development came days before FTSE Russell’s reclassification of Nigeria from Unclassified to Frontier market status, effective September 21, 2026, after the index provider concluded that the West…
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Dangote Refinery IPO raises N1.5trn as Bamboo, other crash
The initial public offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE drew roughly N1.5 trillion in subscriptions within six hours of opening on the Nigerian Exchange in Lagos on Monday, in what is being described as the largest IPO in Africa. The IPO is targeting up to 10 million retail investors, making it one of the most accessible major…
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Dangote Refinery’s N525 per share IPO opens today on NGX
Dangote Petroleum Refinery & Petrochemicals FZE today 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, for the first time, an…
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NDIC tasks banks on strong risk management practices to withstand emerging threats
The Nigeria Deposit Insurance Corporation (NDIC) has urged banks to strengthen their risk management practices, corporate governance and operational preparedness to withstand emerging threats to the financial system. The Managing director (MD) of the NDIC, Thompson Sunday, who spoke in a goodwill message at the 19th annual banking and finance conference of the Chartered Institute of Bankers of Nigeria (CIBN)…
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Dangote Refinery valued at N82.6trn ahead of IPO on NGX
Two firms, CardinalStone Research and Chapel Hill Denham, have independently valued Dangote Petroleum Refinery and Petrochemicals FZE at between N77.7 trillion and N82.62 trillion, above the N65.22 trillion indicative market capitalisation at which the refinery is expected to list on the Nigerian Exchange (NGX). The comparison follows the release of Dangote Refinery’s IPO prospectus, which shows that the company will…
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