Economy

  LAPO Microfinance Bank Limited, through its wholly owned special purpose vehicle, LAPO MFB SPV Plc, has successfully raised N4.46 billion from its inaugural Series 1 Senior Unsecured Fixed Rate Bond, with a small group of large investors accounting for the majority of subscriptions. According to formal allotment data cleared by the Securities and Exchange […]

  Zichis Agro Allied Industries Plc has secured a N2 billion non-equity capital injection from its core promoters, Chilla Entertainment Limited and Winners Investment & Trust Limited, as part of a broader N50 billion growth and expansion programme. The announcement was disclosed in a statement signed by the company’s Managing Director and Chief Executive Officer,

  The Nigerian equities market recorded its fourth consecutive day of gains on Wednesday, June 10, 2026, as buying interest in key stocks such as MTN Nigeria, Vitafoam Nigeria, Livestock Feeds Plc, and Oando Plc helped offset losses across other counters. The rally added N99.15 billion to investors’ wealth, extending the market’s recovery following last

  Nigeria’s food and beverage imports declined to N1.39 trillion in the first quarter of 2026, indicating a reduction in the country’s expenditure on imported food products compared to the same period in 2025. According to the latest foreign trade statistics released by the National Bureau of Statistics, food and beverage imports totaled N1.393 trillion

  The Federal Government has officially commissioned and handed over the Renewed Hope–NITDA Innovation Hub at Obafemi Awolowo University, marking a significant step in efforts to strengthen Nigeria’s technology ecosystem and develop future-ready digital talent. The facility was unveiled on June 8 by Bosun Tijani, Minister of Communications, Innovation and Digital Economy, during a ceremony

  TikTok removed more than 4 million videos and shut down over 86,000 live sessions in Nigeria during the fourth quarter of 2025 as the platform intensified efforts to enforce its community guidelines in one of Africa’s largest digital markets. According to the platform’s Q4 2025 Community Guidelines Enforcement Report, the removals reflect both the

  The Debt Management Office (DMO) has increased its Nigerian Treasury Bills (NTB) issuance programme for the second quarter of 2026 by approximately N850 billion, raising the total planned offer size from N3.95 trillion to N4.8 trillion. According to an analysis of the original and revised Q2 2026 NTB issuance calendars reviewed by Nairametrics, the

Three years after Nigeria’s historic naira devaluation and exchange-rate liberalisation, the country’s largest listed companies have not only recovered from the initial earnings shock but have collectively exceeded their pre-devaluation profit levels. A Nairametrics analysis of 28 major listed firms across the consumer goods, industrials, telecommunications, and energy sectors showed that combined profit before tax

The Central Bank of Nigeria intensified its liquidity management efforts on June 8, 2026, raising N1.689 trillion through an Open Market Operations (OMO) auction as investors showed strong appetite for longer-dated securities. According to the OMO auction results published by the apex bank and reviewed by Nairametrics, total subscriptions were nearly three times the amount