Business

Dangote Refinery slashes petrol gantry prices to ₦1,165 per litre, pushing private depots to follow suit. Parthian Partners projects July headline inflation to cool down to 15.70 percent. The Debt Management Office launches a major ₦1.1 trillion FGN...

President Bola Tinubu insists the Port Harcourt, Warri and Kaduna refineries will return to operation and says his administration will take responsibility for making them profitable. Former President Olusegun Obasanjo argues that private-sector participation is a better model,...

August 16, (THEWILL) — The numbers coming out of Nigeria's corporate sector in the first half of 2026 are impressive. Across several sectors, listed companies have reported substantial increases in revenue, with some recording extraordinary growth in profit as...

Market capitalisation declined by N257 billion, from N156.880 trillion at the opening to N156.623 trillion at the close. The NGX All-Share Index fell by 398.18 points, from 243,017.38 to 242,619.20. Market breadth remained negative, with 21 gainers against...

Agusto & Co has withdrawn its A- rating on Geregu Power and its N40.09bn bond after the company missed scheduled coupon and principal payments. The ratings agency said it can no longer rely on Geregu’s financial statements pending...

Investors submitted ₦4.93trn for just ₦600bn of OMO bills, underscoring the strong appetite for CBN’s high-yielding securities. The auction was oversubscribed by more than eight times. The 138-day OMO bill attracted ₦3.66trn in bids against ₦300bn offered, with...

Apple built a custom artificial intelligence model with direct assistance from Alibaba to secure regulatory clearance in mainland China. Aggressive market pressure from domestic rivals like Huawei forced Apple to abandon its standalone global software strategy. The Chinese...

Investors placed ₦498.6bn worth of bids for Dangote Sugar’s rights issue, exceeding the ₦485.9bn offer by ₦12.7bn. The strong demand pushed the offer into oversubscription. The company received 14,595 valid applications for 8.31bn shares, representing a 102.6 percent...

Dangote Petroleum Refinery plans to prioritise its Nigerian IPO before considering a listing on an overseas exchange. CEO David Bird says the company wants at least three years of production and financial performance to establish a stronger track...

Virtual-asset tax defaulters face a N10 million penalty in the first month and N1 million for every subsequent month, according to PwC’s analysis of the NRS guidelines. Failure to deduct tax at source attracts a 40 percent penalty,...