Business
Dangote Refinery Valuation Hits ₦700.41/Share, 33% Above IPO
LAGOS, Nigeria — Renaissance Capital Africa (RCA) has raised its Dangote Refinery valuation to ₦700.41 per share, a 33.4% premium to the ₦525 IPO offer price, after the…
Faesol Ogungbayi
I write.
Business
Nigeria Growth Target: Oyedele Eyes 7% Above IMF’s 4.3%
BANGKOK, Thailand — Nigeria is aiming for economic growth of 7%, well above the International Monetary Fund’s (IMF) projection of 4.3% for 2027, as the Federal Government accelerates…
News
NGX All-Share Index Falls 0.07% as Banks Drag Market Lower
LAGOS, Nigeria — The NGX All-Share Index (ASI) closed Friday, October 16, 2026 on a bearish note, falling 167.40 points, or 0.07%, to 247,539.73 from 247,707.13 the previous…
News
Brent Crude Price Hits $110, Threatens Nigeria Petrol Relief
LAGOS, Nigeria — The Brent crude price rose to $110 per barrel on Friday, its first time at that level since May, as renewed attacks on energy infrastructure…
Business
MeCure Commercial Paper Offers 21% Yield on ₦14 Billion Series 8
LAGOS, Nigeria — MeCure Industries Plc has opened an offer of up to ₦14 billion in Series 8 commercial paper under its ₦40 billion Commercial Paper Programme. The…
![“I'm A Product Of Luck” – Tony Elumelu Speaks On His Success [Video]](https://media.kanyidaily.com/2026/06/22095303/Tony-Elumelu.webp "West African Infrastructure: Elumelu Backs $15 Billion Pipeline 6")
Business
West African Infrastructure: Elumelu Backs $15 Billion Pipeline
LAGOS, Nigeria — Tony Elumelu, Chairman of Heirs Holdings, is backing a proposed $15 billion investment pipeline to finance West African infrastructure and narrow the region’s infrastructure deficit.…
Business
Energy Inflation Jumps to 10.85% as CPPE Warns of Reversal
LAGOS, Nigeria — The Centre for the Promotion of Private Enterprise (CPPE) has warned that rising energy inflation could reverse Nigeria’s recent disinflation gains, even though headline inflation…
News
FAAC Allocation: FG, States, LGs Share ₦2.43 Trillion for September
ABUJA, Nigeria — The Federation Account Allocation Committee (FAAC) has shared ₦2.428 trillion among the Federal Government, 36 state governments and 774 local government councils as the FAAC…
Business
Guinea Insurance Shares Jump 43% in October on Fresh Capital
LAGOS, Nigeria — Guinea Insurance shares have gained 42.86% in October, ending eight straight months of declines even as the company reported a wider first-half loss. The stock…
Business
AI financing risks: IMF warns $1.4 trillion in commitments could shake global markets
BANGKOK, Thailand — The International Monetary Fund (IMF) has warned that AI financing risks are growing, saying the widening scale of artificial intelligence (AI) investments and complex funding…
Business
Shell makes major exit from Nigeria gas distribution, selling Shell Nigeria Gas to Vaaris Energy in strategic pivot
Shell has agreed to sell its entire interest in Shell Nigeria Gas Group to indigenous energy firm Vaaris Energy Limited, marking a significant exit from Nigeria’s domestic gas…
World News
World Bank lines up $5.79 billion private investment to create 850,000 jobs in Nigeria
The World Bank Group is targeting up to $5.79 billion in private sector financing for Nigeria, with a major initiative expected to support approximately 850,000 direct and indirect…
Business
Global economic growth slows to 3.1% as IMF warns of energy shocks and AI risks ahead
Bangkok, Thailand — The International Monetary Fund (IMF) has cut its global economic growth forecast to 3.1% for 2026, citing escalating pressures from surging energy prices, mounting public…
Business
Now is not the time for new taxes, Oyedele warns as developing nations battle debt
Taiwo Oyedele, Nigeria’s Minister of Finance and Coordinating Minister of the Economy, has warned governments against introducing new taxes or increasing existing tax burdens on vulnerable citizens and…
Business
NGX struggles to break past 250,000 as profit-taking weighs on index
The Nigerian Exchange (NGX) has remained anchored below the 250,000 mark on its All-Share Index (ASI), with sustained profit-taking in large-cap stocks and rotation toward defensive positions limiting…
Business
Jim Ovia set to pocket ₦8.7 billion from Zenith Bank interim dividend payout
Jim Ovia, founder and majority shareholder of Zenith Bank, is poised to receive ₦8.7 billion from the lender’s interim dividend distribution for the first half of 2026, based…