Business

The Nigerian Exchange Limited (NGX) closed Thursday’s trading session on a bearish note, with market capitalisation declining by N1.334 trillion from N162.385 trillion at the opening to N161.051 trillion at the close.

The Infrastructure Concession Regulatory Commission (ICRC) has commenced a review of the $1.3bn, 700-megawatt Zungeru Hydropower Project to address contractual and operational constraints limiting the plant’s performance.

VFD Group Plc has appointed Ijeoma Emezie-Ezigbo as the Deputy Managing Director, effective October 5, 2026, as the investment company moves to strengthen its executive leadership and succession structure.

The Chief Executive Officer of Nigerian Exchange Limited, Jude Chiemeka, has been elected President of the African Securities Exchanges Association, effective September 30, 2026.

Nigeria faces a $6.4bn sovereign Eurobond repayment burden between 2024 and 2030, placing it among the African countries with the largest concentrations of external bond maturities, the World Bank has said.

To make sense of how Dangote’s net worth crossed $50 billion, you have to look at how private infrastructure gets valued. For years, wealth trackers struggled to put an exact price tag on his unlisted 650,000-barrel-per-day petroleum refinery in Lagos.

The Rural Electrification Agency (REA) has secured a ₦100bn financing facility from Stanbic IBTC Bank to support renewable energy developers and accelerate electricity access in unserved and underserved communities across Nigeria.

The World Bank says the naira was among the more resilient African currencies during the second quarter of 2026, weathering a period of heightened exchange-rate pressure triggered by geopolitical tensions, higher energy prices and stronger demand for the US dollar.

Market capitalisation opened at N162.495 trillion but closed at N162.385 trillion, while the ASI declined from an opening level of 250,273.50 to 250,096.75 points.

The World Bank has raised its 2026 economic growth forecast for Nigeria and other economies in Sub-Saharan Africa, citing stronger-than-expected economic performance and signs that reforms across the region are beginning to improve economic resilience.