- Economy
$5bn refinery IPO opens within 12days, says Dangote
Aliko Dangote said on Thursday that the initial public offering of his Lagos refinery will open within the next 10 to 12days, and that he intends to use the proceeds to double the plant’s capacity. He made the remarks to investors and analysts in Botswana, where he was visiting and met President Duma Boko. The offering is expected to seek…
Read More » - Economy
FTSE Russell lists Dangote Cement, nine others in Frontier Index Series
FTSE Russell has included 10 Nigerian companies in its FTSE Frontier Index Series as the country prepares to return to Frontier Market status after a three year absence from the global index provider’s classification. The global index agency revealed this in its September 2026 review of the Index. The Nigerian stocks added to the index are Aradel Holdings, Dangote Cement,…
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Uber shuts down operations in Nigeria, Uganda
Uber has announced the closure of its operations in Nigeria, saying it will discontinue its ride-hailing services in the country effective Wednesday, September 2, 2026. The company communicated the decision to its drivers in a notice on Wednesday, informing them that they would no longer receive requests for trips through the Uber app from the effective date. Uber said the…
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SEC proposes N5bn for trading platforms, N3bn minimum capital for FX brokers
The Securities and Exchange Commission (SEC) has proposed a new regulatory framework for online foreign exchange trading and Contracts for Difference (CFDs), setting minimum capital requirements of up to N5 billion for operators seeking to participate in retail market. The proposed rules, issued under the Investments and Securities Act (ISA) No. 2, 2025, are contained in the draft Rules on…
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Credit to private sector up by 3.5% to N83.43trn in July 2026, says CBN
The Central Bank of Nigeria (CBN) has revealed that credit to Nigeria’s private sector increased by about N2.84 trillion between April and July 2026, reaching N83.43 trillion in July from N80.59 trillion in April. The increase represents a 3.52per cent rise over the three-month period, pointing to a gradual expansion in lending to businesses and other private-sector borrowers. Year-on-year, private…
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Nigerian’s equities market closes August 2026 with 56.93% YtD gain as buying interest picks up
Nigerian Exchange Limited (NGX) ended August on a positive note, with the All-Share Index (ASI) gaining 1.20 per cent on the final trading day to close the month with a year-to-date return of 56.93 per cent, despite profit-taking and portfolio rebalancing that characterised trading during the period. The strong finish moderated the month’s decline to about 0.44 per cent, leaving…
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Finance, Insurance sector growth drops to 9.29% in Q2 2026
Nigeria’s finance and insurance sector recorded a real growth rate of 9.29 per cent in the second quarter of 2026, down sharply from 16.13 per in the corresponding period of 2025, according to data released by the National Bureau of Statistics. The slowdown comes after banks and insurance companies concluded major recapitalisation exercises that collectively raised more than N5.3 trillion…
Read More » - Company Report
PZ Cussons Nigeria records N260.46bn revenue in 2026FY
…proposes dividend payment of N2.50k per share The Board of Directors of PZ Cussons Nigeria Plc, a leading manufacturer of personal healthcare products and consumer goods, recorded N260.46 billion in revenue for the 2026 financial year, representing 22% growth, compared with N212.63 billion in the corresponding period in 2025. The Board has proposed a dividend payment of N2.50k per share,…
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BREAKING: Nigeria’s gross domestic product grows by 4.43% in Q2 2026
The National Bureau of Statistics (NBS) on Monday revealed that Nigeria’s Gross Domestic Product (GDP) grew by 4.43 per cent (year-on-year) in real terms in the second quarter (Q2) of 2026, higher than the 4.23per cent recorded in the second quarter (Q2) of 2025. The bureau in its Nigerian GDP report for Q2 2026 revealed that agriculture grew by 4.39per cent,…
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Access Holdings board approves audited H1 2026 financial statements
The Board of Directors of Access Holdings Plc has approved the Group’s Audited Interim Consolidated and Separate Financial Statements for the half-year ended 30 June 2026. The financial statements were considered and approved by the Board at its meeting held on 27 August 2026 and will now proceed through the required regulatory process, including approval by the Central Bank of…
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