Business & Economy - Page 2

In what is set to redefine the landscape of African capital markets, Dangote Petroleum Refinery and Petrochemicals Limited formally kicked off its Initial Public Offering (IPO) on Monday, September 7, 2026, with the signing ceremony for a massive 4.1 billion ordinary shares.

The Federal Government has directed the Nigerian Maritime Administration and Safety Agency (NIMASA) to collaborate immediately with 12 approved Primary Lending Institutions (PLIs) to accelerate the processing and disbursement of the $700 million Cabotage Vessel Financing Fund (CVFF) to qualified Nigerian shipowners.

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