Category: Finance and Economy

NEC Approves 90-Day Economic Plan as Nigerians Await Relief From Rising Living Costs

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NEC Approves 90-Day Economic Plan as Nigerians Await Relief From Rising Living Costs

The National Economic Council (NEC) has endorsed a 90-day economic action plan aimed at easing Nigeria’s cost-of-living crisis, improving food affordability and ensuring that the benefits of ongoing economic reforms translate into tangible improvements in citizens’ lives. The decision was reached during the Council’s 161st meeting, held virtually on Thursday, October 22, 2026, and chaired…

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Finance and Economy

N1.3m Loan, N6.8m Repayment: Borrower Challenges FairMoney’s Loan Calculation

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N1.3m Loan, N6.8m Repayment: Borrower Challenges FairMoney’s Loan Calculation

A repayment dispute involving digital lender FairMoney has drawn attention after a Nigerian borrower challenged a reported ₦6.814 million repayment obligation arising from a loan facility originally valued at about ₦1.3 million. The complaint centres on how the balance was recalculated after the borrower obtained a further ₦500,000 top-up. The borrower, identified in reports as…

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Banks and financial services

Dangote Unveils $10bn Power Investment Plan to Transform Nigeria, Africa’s Electricity Sector

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Dangote Unveils $10bn Power Investment Plan to Transform Nigeria, Africa’s Electricity Sector

President of the Dangote Group, Aliko Dangote, has announced plans by his business group to invest more than $10 billion in Africa’s power sector over the next three to four years, as he identified electricity supply as critical to industrialisation and economic growth on the continent. Dangote disclosed the proposed investment during an interview with…

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Business Investments

Dangote Refinery Opens N2.15 Trillion IPO, Invites Nigerians to Own Stake in Landmark Energy Project

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Dangote Refinery Opens N2.15 Trillion IPO, Invites Nigerians to Own Stake in Landmark Energy Project

The Dangote Petroleum Refinery and Petrochemicals FZE has officially opened its initial public offering (IPO), giving Nigerians and other investors an opportunity to acquire shares in one of Africa’s most ambitious industrial projects. The offer, valued at approximately N2.15 trillion, is expected to become one of the largest transactions in the history of Nigeria’s capital…

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Business Investments

Dangote Refinery Shares Could Rise to N10,000, Aliko Dangote Tells Prospective Investors

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Dangote Refinery Shares Could Rise to N10,000, Aliko Dangote Tells Prospective Investors

Aliko Dangote, President of the Dangote Group, has expressed optimism that shares of the Dangote Petroleum Refinery and Petrochemicals business, being offered at ₦525 per share, could rise significantly in value in the future, potentially reaching ₦10,000. Dangote reportedly made the projection during an interview ahead of the company’s planned initial public offering (IPO), which…

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Business Investments

Dangote Refinery IPO: Full List of 32 Approved Channels Nigerians Can Use to Buy Shares

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Dangote Refinery IPO: Full List of 32 Approved Channels Nigerians Can Use to Buy Shares

The Dangote Petroleum Refinery and Petrochemicals FZE has approved 32 electronic channels through which Nigerians and other eligible investors can subscribe for shares in its highly anticipated initial public offering (IPO), expanding access to the landmark offer across banks, fintech platforms, mobile-money services and the Nigerian Exchange (NGX). The approved network comprises 19 banks, 10…

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Business Investments

Dangote Refinery IPO: How Nigerians Can Become Shareholders With Just N5,250

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Dangote Refinery IPO: How Nigerians Can Become Shareholders With Just N5,250

The much-anticipated initial public offering (IPO) of the Dangote Petroleum Refinery and Petrochemicals is set to open a new investment opportunity for Nigerians, with prospective investors able to subscribe for as little as 10 shares for N5,250. The offer price has been fixed at N525 per share, while the minimum subscription is 10 ordinary shares,…

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Business Investments, Finance and Economy

Why Uber Pulled Out of Nigeria After 12 Years — The Real Factors Behind the Exit

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Why Uber Pulled Out of Nigeria After 12 Years — The Real Factors Behind the Exit

Uber has ended its ride-hailing operations in Nigeria after about 12 years in the country, bringing an abrupt close to a service that helped reshape urban transportation and popularise app-based taxi services among Nigerians. The company’s withdrawal took effect on September 2, 2026. The American mobility company, which first launched in Lagos in 2014 before…

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Business Investments

Nigeria’s Foreign Reserves Surge to $53.11bn, Near 17-Year Record as Dollar Inflows Strengthen

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Nigeria’s Foreign Reserves Surge to $53.11bn, Near 17-Year Record as Dollar Inflows Strengthen

Nigeria’s external reserves have climbed to $53.11 billion, reaching their highest level in more than 17 years and providing a significant boost to the country’s external financial position. The latest figure, recorded as of August 24, 2026, represents a continued upward trajectory in Nigeria’s reserves and brings the country within striking distance of the level…

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Exchange and Forex, Finance and Economy

ECOWAS Targets 2027 for ECO Currency Launch as Regional Bloc Adopts Phased Approach

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ECOWAS Targets 2027 for ECO Currency Launch as Regional Bloc Adopts Phased Approach

The Economic Community of West African States (ECOWAS) has reaffirmed its commitment to introducing the long-awaited ECO single currency in 2027, marking a renewed push to deepen economic integration and facilitate trade across the West African region. The decision was reaffirmed at the 69th Ordinary Session of the ECOWAS Authority of Heads of State and…

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Finance and Economy, Uncategorized