Business & Economy - Page 12

The Federal Government’s reliance on local capital markets expanded sharply in 2026, with total domestic borrowings surging by 90.5 per cent year-on-year to N24.7 trillion in the eight-month period ending August 31, 2026. This represents a significant jump from the N12.98 trillion

In what is set to become Africa’s largest public share sale, the Securities and Exchange Commission (SEC) has officially approved the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE. ​The regulatory clearance authorizes the company to offer 4.1 billion

The International Monetary Fund (IMF) expressed a strong commitment to working alongside member-countries to resolve widening global economic imbalances, while sounding an urgent alarm over surging sovereign debt burdens across the globe. According to the multilateral lender, worldwide public debt has approached

Nigeria’s foreign exchange reserves expanded to $54.08 billion as of September 3, 2026, marking the country’s highest external buffer since December 2008 and exceeding the Central Bank of Nigeria’s (CBN) full-year target. ​Data released by the Central Bank of Nigeria in Abuja

By Taiye Olayemi 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

The Bureau of Public Procurement (BPP) has announced plans to fully digitize all federal expenditures through the Electronic Government Procurement (e-GP) system, a move designed to curb systemic corruption, eliminate manual interventions, and bolster the value of the naira. ​The disclosure was

The Central Bank of Nigeria (CBN) says liquidity in the banking system fell by N930 billion to N3.66 trillion when compared to N6.81 trillion recorded on Aug. 11. The latest money-market data published by the apex bank on its website on Friday

The Federal Government of Nigeria announced on Tuesday, September 1, 2026, that the nation’s economy is gaining steady momentum toward reaching its target of a $1 trillion Gross Domestic Product (GDP) by 2030. ​This statement follows official figures published on Monday, August

The International Monetary Fund (IMF) issued a sharp warning that the rapid global expansion of dollar-backed stablecoins must not be allowed to undermine fiscal and monetary discipline in countries whose currencies and assets anchor the digital tokens. ​Speaking at the Federal Reserve’s