Economy

Nigeria has revived plans to list its state-owned oil company, Nigerian National Petroleum Company Limited (NNPC Ltd), on the Nigerian Exchange, nearly a decade after the proposal was first introduced. The plan was initially proposed in November 2016 as part of broader reforms to Nigeria’s petroleum sector, but progress towards a public listing stalled over […]

Nigerian listed companies recorded a significant rise in finance income in the first half of 2026, earning a combined N179.5 billion, according to their financial statements. The figure represents a 174% increase from the N65.6 billion recorded by the companies during the corresponding period in 2025. The analysis covers 19 listed companies that reported positive

The Nigerian Exchange Limited (NGX) has called on the Federal Government to use the capital market to drive economic transformation by listing stakes in major strategic assets, including Indorama Eleme Petrochemicals Limited and Nigeria LNG Limited (NLNG). The NGX Chief Executive Officer, Temi Popoola, made the proposal during a meeting with President Bola Ahmed Tinubu,

The Nigerian naira continued to strengthen against the euro last week, with the latest data from the Central Bank of Nigeria (CBN) showing the currency closing at N1,576/€1, compared with N1,573/€1 in the previous week. The latest exchange rate marks a significant improvement from the N1,774/€1 recorded in January 2026, with the naira now trading

  Africa’s startup funding activity slowed sharply in July 2026, with 47 startups raising a combined $102.2 million across disclosed funding deals. The figures, compiled by Nairametrics, show that investment remained heavily concentrated among a small group of companies, with the largest-funded startups accounting for the overwhelming majority of capital raised during the month. What

  Shareholders of Mutual Benefits Assurance Plc have approved a final dividend of N802.47 million for the financial year ended December 31, 2025, alongside several board and corporate governance resolutions. The approval was disclosed in a regulatory filing signed by the Company Secretary, Jide Ibitayo, and submitted to the Nigerian Exchange (NGX). What the data

  Nigeria’s three largest listed upstream and integrated oil companies generated a combined N7.05 trillion in revenue during the first half of 2026, benefiting from higher crude oil prices, improved production and stronger export volumes. The figures, compiled from the unaudited H1 2026 financial statements of Seplat Energy Plc, Aradel Holdings Plc and Oando Plc,

  Dangote Petroleum Refinery & Petrochemicals remained Europe’s largest supplier of imported jet fuel for the second consecutive month in July, accounting for approximately one-fifth of the continent’s aviation fuel imports. The development is based on the latest European import data compiled by global commodities intelligence firm Kpler and reported by Arise News. The 700,000-barrel-per-day

  In early June, Bidemi Sonoiki, Grenada’s Honorary Consul in Nigeria, announced during a press conference in Lagos that the Caribbean nation would grant Nigerians visa-free entry as part of efforts to strengthen economic and business ties between both countries. According to Sonoiki, the arrangement would provide Nigerian entrepreneurs, investors and professionals with easier access

Aradel Holdings Plc and Seplat Energy generated a combined pre-tax profit of approximately N1.54 trillion in the first half of 2026, with a substantial portion of their earnings absorbed by tax obligations. Analysis of the companies’ half-year financial results shows that they incurred a combined total income tax expense of about N1.13 trillion, representing roughly