The Dangote Refinery profit 2026 figures show a dramatic turnaround for Nigeria’s biggest refinery, with the company reporting ₦2.55 trillion in profit after tax on ₦19.47 trillion in revenue during the first half of the year. The results are particularly significant because they come ahead of the refinery’s planned Initial Public Offering, giving potential investors…
The CBN terrorism financing supervision 2026 push is putting Nigerian banks and other financial institutions under closer scrutiny as the Central Bank of Nigeria moves to strengthen controls against the use of the financial system to fund terrorism. In a September 8 statement, the CBN said terrorism financing supervision had become a current supervisory priority….
The Dangote Refinery IPO 2026 is shaping up to be more than a huge fundraising exercise. Aliko Dangote wants the ₦2.15 trillion share offer to bring millions of ordinary Africans into the ownership of one of the continent’s biggest industrial projects. The refinery’s IPO documents were signed in Lagos on Monday, with 4.1 billion shares…
Aliko Dangote has recorded a fresh increase in his wealth as investors prepare for the Dangote Refinery IPO 2026, which is expected to open its order book on September 14. Reports citing Forbes’ real-time billionaire tracker put Dangote’s wealth at $31.5 billion on September 4, up from $25.6 billion at the end of 2025. A…
The Federal Government will begin a two-week repair of Kara Bridge on the Lagos-Ibadan Expressway on Tuesday, September 8, with motorists warned to prepare for traffic delays and temporary lane restrictions. The work will focus on damaged expansion joints that have exceeded their service life. Officials say the repairs are necessary not only to improve…
Nigeria’s latest state finance figures are exposing a growing fiscal divide between Nigerian states. In 2025, the 36 states and the Federal Capital Territory generated about ₦4.15 trillion in internally generated revenue, but Lagos State generated 45% of subnational IGR, highlighting how heavily Nigeria’s domestic revenue base depends on one state. At the same time,…
The Dangote Refinery IPO has received approval from Nigeria’s Securities and Exchange Commission, setting the stage for what could become Africa’s biggest-ever share sale. The company plans to offer 4.1 billion ordinary shares at ₦525 each, potentially raising about ₦2.15 trillion, or $1.63 billion, if fully subscribed. The order book is expected to open on…
Nigeria’s power sector contracted by 10.63% in Q2 2026, extending its decline for a second consecutive quarter even as the wider economy recorded stronger growth. The figures raise a bigger question than the latest contraction: can Nigeria sustain economic growth without fixing its electricity supply chain? Power Sector Moves in the Opposite Direction According to…
Nigeria is facing a growing gap between official economic numbers and how many workers experience the economy. Organised labour has said Nigerians are yet to see clear signs of economic growth, even as states carry a combined debt burden running into trillions of naira. The concern comes at a time when Nigeria’s N5.3 trillion debt…
Uber exits Nigeria and this has brought an unexpected end to the company’s 12-year run in one of Africa’s biggest consumer markets. Uber stopped operations in Nigeria on September 2, alongside its exit from Uganda, saying it had reviewed its business priorities and investment focus across Africa. The company did not give a specific reason…
