Business

FCCPC says Nigeria’s cement prices may not be fully explained by production costs and market conditions. A 50kg bag of cement reached as high as ₦15,000 in some Nigerian markets, compared with about ₦7,344 in Kenya and ₦9,180...

Nigeria’s headline inflation fell to 15.43% in July, but food inflation climbed to 20.31%. Food inflation reached its highest level since September 2025, rising from 17.52% in June. Food inflation has risen every month since January, reversing the...

Dangote Refinery has secured a $400m underwriting commitment from Marob Strategies and Lilium Capital ahead of its planned IPO. The commitment will only become effective when the IPO launches and remains subject to market, corporate and regulatory conditions. ...

PwC says unresolved issues around wallet transfers, asset valuation and withholding tax could complicate compliance. VASPs face extensive reporting and tax-administration duties, with penalties reaching N10 million for the first month of default. The firm says clearer guidance...

Dangote Refinery is targeting up to $5bn from its proposed Nigerian IPO, which could become Africa’s largest public offering. The final offer size, however, will depend on regulatory approval and the structure of the transaction. The refinery’s recent...

Femi Otedola acquired another 147.74 million First HoldCo shares for N20.7bn through Calvados Global Services Limited. The latest purchase brings his disclosed First HoldCo share acquisitions in 2026 to about N412bn. Otedola’s continued accumulation comes as First HoldCo...

Market capitalisation declined marginally by ₦106 billion, from ₦156.623 trillion at the opening to ₦156.517 trillion at the close. The NGX All-Share Index fell by 164.55 points, from 242,619.20 to 242,454.65. Market breadth remained negative, with 19 gainers...

BOA is expanding support for women farmers beyond loans to include agricultural inputs, mechanisation, agronomic support and market access. Only 3 percent of female farmers in Nigeria are formally enrolled in financial systems, compared with 10 percent of...

Nigeria’s headline inflation fell to 15.43 Percent in July from 15.91 percent in June, while monthly inflation also eased to 1.57 Percent. Food inflation, however, accelerated sharply to 5.56 percent month-on-month from 3.75 percent in June, driven by...

Nigeria’s net foreign exchange flow fell 29 percent month-on-month to $4.94 billion in March 2026 as total FX outflows more than doubled. CBN data showed outflows jumped from $2.50 billion in February to $5.54 billion in March, while...