Ogochukwu Onwaeze, THEWILL

The Dangote Petroleum Refinery has expanded its free petroleum products delivery initiative to Kano, Imo, Anambra and Nasarawa states, as it seeks to cut distribution costs for independent petroleum marketers and create room for lower petrol prices.

The Central Bank of Nigeria’s latest Open Market Operations (OMO) auction has pushed short-term fixed-income yields back into focus, with investors submitting N4.93 trillion in bids for securities worth just N600 billion.

Nigeria’s headline inflation rate eased further in July, falling to 15.43 percent from 15.91 percent in June, reinforcing the recent moderation in the pace of price increases. But beneath the headline improvement, the latest Consumer Price Index (CPI) report presents a more complicated picture for households and businesses.

Market closes lower: ASI fell 0.29 percent to 239,351.16, while market cap declined by ₦444bn to ₦154.533tn. Negative breadth: 26 stocks declined against 22 gainers, reflecting cautious investor sentiment. RT Briscoe leads gains: The stock rose 9.63 percent,...

Aliko Dangote has offered East African countries a combined 30 percent equity stake in his planned refinery in Lamu, Kenya. Kenya is considering a 10 percent stake worth about $500 million, while Ethiopia and Rwanda have also expressed...

The Nigerian Economic Summit Group projects Nigeria’s external reserves will rise to about $53bn by December 2026, supported by stronger oil production, favourable crude prices and improved foreign exchange inflows. NESG expects the economy to grow by 4.2...

Tony Elumelu’s Heirs Holdings stake in Seplat Energy has more than doubled in value to over $1bn, less than eight months after the investment was made. Heirs Holdings acquired a 20.07 percent stake in Seplat for about $500m...

Dangote Cement’s Ibese plant says it sanctioned more than 250 truck drivers for safety violations between 2025 and 2026, including over-speeding, illegal haulage and proxy driving. About 200 drivers were sanctioned in 2025, while more than 50 have...

Market capitalisation declined by ₦440 billion, from ₦155.417 trillion at the opening to ₦154.977 trillion at the close. The NGX All-Share Index fell by 712.67 points, from 240,750.47 to 240,037.80, a 0.30 percent decline. Market breadth remained negative,...

A foreign TV programme mocked Nigeria over its unfinished projects, but the criticism struck a nerve with Ibrahim Babangida. After becoming military president, Babangida made the stalled Third Mainland Bridge a top priority in a bid to prove...