Business & Economy

Dangote Refinery Eyes US Listing After Capacity Expansion

adminSeptember 11, 2026

The Dangote Refinery is targeting a future listing in the United States after plans to double its processing capacity to 1.4 million barrels per day (bpd), President of Dangote Industries Limited (DIL), Aliko Dangote, has said. Dangote disclosed this during an interview with CNN, where he discussed the refinery’s expansion plans and its long-term ambition...

Nigeria Moves To Regulate Livestock Slaughter, Upgrade Meat Processing

adminSeptember 10, 2026

The Federal Government is moving to reform Nigeria’s meat production system by making controlled slaughtering and modern processing facilities central to the livestock value chain. Minister of Livestock Development, Idi Mukhtar Maiha, said the planned reforms would eventually eliminate the slaughter of animals in uncontrolled locations and improve the quality, safety and traceability of meat...

Counterfeit Trade Goes Local As Chinese Syndicates Set Up Fake-Product Plants In Nigeria — NAFDAC

adminSeptember 9, 2026

LAGOS — Nigeria’s counterfeit goods crisis has taken a more disturbing turn, with the National Agency for Food and Drug Administration and Control (NAFDAC) revealing that some Chinese syndicates previously importing fake products into the country are now establishing manufacturing plants and distribution networks locally. The development means counterfeiters are increasingly bypassing the traditional route...

Reps Move To Recover N432bn As Oil Sector Debts Pile Up

adminSeptember 9, 2026

A report by Vanguard Newspaper has revealed that the House of Representatives is probing how N432.07 billion in petroleum-related obligations accumulated over several years without being fully recovered, with lawmakers now demanding explanations from the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, and affected oil companies. The investigation, according to the report by Vanguard...

N70,000 Minimum Wage Fails Workers, Socialist Labour Tells FG

adminSeptember 9, 2026

Socialist Labour, Oyo State Chapter, has thrown its weight behind the Federal Workers Forum’s demand for a N300,000 minimum wage, arguing that the existing N70,000 wage is no longer sufficient to meet workers’ basic needs. In a statement issued in Ibadan on Wednesday and signed by Comrade Ogundele Ayodele, the group condemned opposition to the...

CBN: Economic Gains To Soon Reach Households, MSMEs — Cardoso

adminSeptember 9, 2026

The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has assured Nigerians that the gains from the country’s improving macroeconomic stability will soon translate into tangible benefits for households and businesses. Cardoso gave the assurance on Tuesday at the 19th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria (CIBN) in...

₦31bn Empowerment: Don’t Turn Scheme Into Political Compensation, Isong Warns

adminSeptember 8, 2026

The Executive Director of the Centre for Human Rights and Accountability Network (CHRAN), Franklyn Isong, has warned the Akwa Ibom State Government against allowing its proposed ₦31 billion economic empowerment programme to become a tool for political patronage. Isong said the success of the initiative would depend largely on how beneficiaries were selected and verified,...

FG Moves To Unlock 20-Year-Old Shipping Fund, Offers Up To $25m Per Shipowner

adminSeptember 7, 2026

The Federal Government has moved to unlock the long-delayed Cabotage Vessel Financing Fund (CVFF), with qualified Nigerian shipowners set to access up to $25 million each to acquire vessels and expand their operations, Minister of Marine and Blue Economy, Adegboyega Oyetola, has disclosed. Oyetola said the initiative, established more than two decades ago to build...

Dangote Refinery IPO: Why Investors Must Look Beyond ₦525 Share Price

adminSeptember 6, 2026

Dangote Refinery IPO: Why Investors Must Look Beyond ₦525 Share Price As excitement builds around the planned initial public offering (IPO) of Dangote Refinery, financial literacy advocate and investment strategist, Iking Ferry, has urged prospective investors to look beyond the company’s reputation and proposed ₦525 share price before committing their money. Ferry, in an...

Nigeria’s Reserves Hit $54.08bn, Highest in Nearly 18 Years

adminSeptember 4, 2026

Nigeria’s external reserves have climbed to $54.08 billion, reaching their highest level in almost 18 years and signalling a significant strengthening of the country’s foreign-exchange buffer. According to data from the Central Bank of Nigeria (CBN), the latest figure represents a $1.42 billion increase from the $52.66 billion recorded on August 19, 2026. The reserve...

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