Business & Economy - Page 7

Dangote Petroleum Refinery & Petrochemicals (DPRP) has formalized a $1 billion underwriting programme, completing a $600 million funded private placement while securing a distinct $400 million underwriting commitment to backstop its planned initial public offering (IPO) on the Nigerian stock market. The

The Naira on Tuesday further appreciated at the official market, trading at N1,343.32 to the US dollar. Data from the Central Bank of Nigeria (CBN) showed that the currency gained N6.21 against the dollar. The latest rate represents a 0.4 per cent

​An industry-wide investigation by the Federal Competition and Consumer Protection Commission (FCCPC) has revealed possible price manipulation within Nigeria’s cement market, noting that retail prices in the country remain higher than in several other African nations despite Nigeria’s large production capacity and

Monthly allocations to Nigeria’s three tiers of government have crossed the N2 trillion mark, up from an average of N300 billion to N600 billion under previous administrations, due to key macro-economic policy reforms. ​The Minister of Finance and Coordinating Minister of the

The National Bureau of Statistics (NBS) says Nigeria’s headline inflation rate dropped to 15.43 per cent in July. The NBS disclosed this in its Consumer Price Index (CPI) and Inflation Report for July released in Abuja on Monday The report said that

Bilateral trade between India and Nigeria jumped 26 percent to approximately $9 billion in the 2025–26 fiscal year, up from $7.13 billion recorded in 2024–25. The sharp rise reflects a concerted effort by both nations to expand economic cooperation past traditional crude

The National Sugar Development Council has announced a $1 billion investment pipeline aimed at accelerating Nigeria’s domestic sugar production and ending its heavy reliance on foreign imports. ​The council confirmed that the major initiative is built on a $1 billion Engineering, Procurement,

Nigerians from different sectors of the economy have expressed divergent views over the Federal government’s plan to revive the state-owned refineries. President Bola Tinubu, on Thursday, assured Nigerians that the nation’s refineries would resume operations. He gave the assurance when he received

The Federal Government of Nigeria has officially deployed a real-time automated crude oil trading platform designed to harmonize feedstock allocation, pricing transparency, and direct delivery to domestic refiners. ​Launched during an executive industry briefing on Thursday, August 13, 2026, at the Eko

Dangote Industries Limited and CNN International Commercial (CNNIC) have officially launched a multi-year global media and brand partnership designed to highlight Africa’s enterprise, industrial expansion, and growing economic influence on the world stage. ​The deal, unveiled on August 10, 2026, centers on