Dangote Petroleum Refinery and Petrochemicals has unveiled a N2.15 trillion Initial Public Offer, IPO, aimed at giving millions of Nigerians and other Africans an opportunity to own shares in the refinery. The offer comprises 4.1 billion ordinary shares priced at N525 each, with a minimum subscription of 10 shares, allowing…

Foreign investors have withdrawn a net N266.07 billion from Nigeria’s equities market in the first seven months of 2026, marking a sharp increase from the N22.68 billion recorded during the same period in 2023. Data from the Nigerian Exchange Limited shows that foreign investors brought in N513.36 billion between January…

The Federal Government’s domestic borrowing rises by 90.5 per cent year-on-year to N24.7 trillion between January and August 2026, compared with N12.98 trillion recorded during the same period in 2025. The increase is largely driven by higher issuance of FGN bonds and Treasury Bills, with experts warning that the borrowing…

The Manufacturers Association of Nigeria, MAN, has warned that Nigeria’s 4.43 per cent economic growth in the second quarter of 2026 was masking serious challenges in the industrial sector. MAN said the services sector accounted for 56.62 per cent of the nation’s GDP, while the broader industrial sector contributed just…

Distribution companies in Nigeria recorded a N123.87 billion gap between the value of electricity supplied to them and the revenue they collected from customers in June 2026. According to the latest commercial performance report released by the Nigerian Electricity Regulatory Commission, the DisCos received electricity worth N315.73 billion during the…

A Lagos-based customer of Guaranty Trust Bank, Onifade Isaac, reported losing N4.6 million from his account through an unauthorised transfer. Isaac said the money was transferred from his savings account through the GTB mobile app to a Pocket App account belonging to a person identified as Zahara’u Iliyasu. He said…