Business

NMDPRA launches fresh push for a transparent West African fuel price benchmark, arguing that Africa must end its dependence on petroleum price references set outside the continent. Nigeria says growing refining capacity across West Africa has created the...

Seplat signs binding agreement to sell a 10% working interest in the NNPCL/SEPNU joint venture to NNPC Limited for approximately $281.6 million. NNPC's stake in the strategic oil joint venture will increase from 60% to 70%, while Seplat...

Femi Otedola has invested another ₦222.2 billion in First HoldCo, increasing his ownership to 25.87 percent and strengthening his position as the company's largest shareholder. The latest purchase comes barely one week after a related entity acquired ₦77.6...

Large taxpayers with annual turnover above ₦5bn have until July 31 to comply with the Nigerian Revenue Service's e-invoicing requirement or face statutory penalties. The NRS says businesses that fail to transmit invoices electronically risk a ₦200,000 fine...

 Investors submitted ₦3.38 trillion in bids for the one-year Treasury Bill against a ₦500 billion offer, highlighting sustained appetite for long-term government securities despite declining yields.  The CBN lowered the stop rate on the 364-day bill to 17.35...

The NGX reversed Tuesday’s gains as widespread profit-taking erased about ₦648 billion from investors’ wealth, with losers almost doubling gainers. Insurance stocks remained in demand, with Lasaco, NEM and SUNU Assurances leading the gainers despite the broader market...

MTN Nigeria, First HoldCo, Dangote Cement, GTCO, Airtel Africa, BUA Foods and Aradel Holdings have emerged as the biggest drivers of the NGX's record rally in 2026. Strong corporate earnings, a more stable naira, improved investor confidence and...

Nigeria’s consumer credit fell 19.89 percent to ₦3.78 trillion in 2025, marking the first annual decline since December 2019 as high interest rates curbed household borrowing and reduced the share of consumer loans in private sector credit. Personal...

Nigeria’s total foreign exchange inflows climbed to $109.86 billion in 2025, driven largely by stronger autonomous sources, while net FX inflows rose to $60.81 billion despite a sharp increase in outflows. Autonomous inflows accounted for more than 64...

Africa Prudential Plc grew profit after tax by 18 percent to ₦1.59 billion in the first half of 2026 as gross earnings rose 27 percent, driven by stronger registrar operations, treasury income and technology-led services. The company says...