Business

On December 30, 2025, Elumelu’s Heirs Energies bought Maurel & Prom’s 20.07% stake in Seplat Energy for $496 million, acquiring 120.4 million shares at 305 pence each.

The Central Bank of Nigeria (CBN) has received the Nigerian Economic Society’s Distinguished Organisation Award, with the professional body recognising reforms undertaken by the apex bank across Nigeria’s monetary, foreign exchange and financial sectors.

Market capitalisation rose from N157.049 trillion at the opening to N157.150 trillion at the close, representing a N101 billion increase.

Brent crude, the international benchmark, rose to around $105.21 per barrel, gaining more than 4 percent from $100.57 on Wednesday.

Dangote Refinery will open its public offer for 4.1 billion ordinary shares at ₦525 each, with the company seeking to raise about ₦2.15 trillion. The offer will run until October 13, giving investors four weeks to decide if they want to become shareholders.

The ASI opened at 244,802.11 points but fell by 2,579.01 points to close at 242,223.10 points. Market capitalisation, however, remained unchanged at N158.721 trillion between the opening and closing figures provided for the session.

CORAN, in a statement by its Publicity Secretary, Eche Idoko, said the rising cost of diesel should concern Nigerians because the fuel is widely used by factories, farms, transport operators, telecommunications companies and other businesses.

Dangote Petroleum Refinery and Petrochemicals FZE could be worth significantly more than the valuation implied by its planned Nigerian Exchange (NGX) listing, according to independent estimates from CardinalStone Research and Chapel Hill Denham.

Nigeria has reduced the processing time for Certificates of Origin under the African Continental Free Trade Area (AfCFTA) from more than five days to 24 hours, in a move to make it easier for local businesses to access preferential trade opportunities across Africa.

NAFDAC Director-General, Prof. Mojisola Adeyeye, renewed the agency’s position on Wednesday during an interview on Channels Television’s Sunrise Daily, saying alcohol consumption is linked to banditry and warning about its effects on vital organs including the brain, kidneys and liver.