Chairman of FirstHoldCo, Femi Otedola, has expressed interest in acquiring $100 million worth of shares in the planned initial public offering (IPO) of the Dangote Petroleum Refinery & Petrochemicals, as investor enthusiasm builds around what is expected to become one of Africa’s most significant listings. Otedola said he had already repositioned his portfolio by […]
China’s exports of solar cells and panels to Africa surged sharply in April 2026, rising 83% year-on-year, as global demand for renewable energy continued to accelerate. According to China customs data reported by Reuters, shipments to African countries reached 123,787 metric tons in April 2026, up from 67,552 tons in April 2025, underscoring the
China’s Solar Panel Exports to Africa Jump 83% as Renewable Energy Demand Surges Read More »
The Federal Government has launched an artificial intelligence-powered platform, GovGuideNigeria, designed to simplify how Nigerians access government information and public services across ministries and agencies. The initiative was announced on Thursday by the Minister of Communications, Innovation and Digital Economy, Bosun Tijani, who said the platform forms part of broader efforts to enhance public
Nigeria Launches AI Platform ‘GovGuideNigeria’ to Simplify Access to Government Services Read More »
Federal Competition and Consumer Protection Commission has sealed off two additional real estate companies over alleged failure to comply with regulatory directives tied to consumer complaints involving refunds and undelivered properties. The enforcement action, carried out with security operatives, targeted Ochacho Group Worldwide and Ti-Bilon following what the Commission described as repeated non-compliance with
FCCPC seals two Abuja real estate firms over alleged consumer refund, property disputes Read More »
Wema Bank Managing Director, Moruf Oseni, has reaffirmed the lender’s ambition to break into Nigeria’s tier-one banking league in the “not-too-distant future.” Speaking at the bank’s Annual General Meeting (AGM) held in Lagos, Oseni said the management team and staff are deliberately positioning Wema Bank among Nigeria’s top-tier financial institutions, supported by a strong
Wema Bank targets tier-one status as profitability triples in three years — Moruf Oseni Read More »
High logistics and energy costs are increasingly forcing Micro, Small and Medium Enterprises (MSMEs) out of Nigeria’s non-oil export market, according to the newly released 3T Impex Non-Oil Export Index Report 2026. The report, authored by Bamidele Ayemibo and published by 3T Impex Trade Consulting, analysed 87,824 export transactions recorded between 2021 and 2025, alongside
Rising logistics, energy costs pushing Nigerian MSMEs out of export market – Report Read More »
Nigeria’s gross external reserves rose to $49.49 billion as of May 15, 2026, rebounding from $48.35 billion recorded at the end of March 2026, according to the Central Bank of Nigeria (CBN). CBN Governor Olayemi Cardoso disclosed the latest reserve position on Wednesday at the end of the Monetary Policy Committee (MPC) meeting in Abuja,
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has retained the Monetary Policy Rate (MPR) at 26.5% following the conclusion of its 305th meeting held in Abuja. The decision was announced by Olayemi Cardoso after the MPC meeting, which was attended by 11 committee members. The committee also voted to retain
CBN retains interest rate at 26.5% as MPC adopts cautious stance on inflation Read More »
Every day, up to 12 million cars ply Nigerian roads. Many of the drivers of these vehicles do not have third-party motor insurance, while a significant portion of the ones that do are spotting fake third-party motor insurance policy documents. This action is rationalized by the aim to sail through police checkpoints seemingly compliant with
Webinar Insights on Strengthening Third-Party Motor Insurance Adoption in Nigeria Read More »
The Bank of Industry has secured a $200 million sovereign-guaranteed thematic financing facility from the African Development Bank Group to expand access to long-term financing for businesses operating in strategic sectors of Nigeria’s economy and accelerate the country’s industrial transformation agenda. The financing package, approved by the Board of Directors of the African Development Bank
