Business & Economy

We Have Achieved 18 Hour Power Supply in Some Areas, Says Tegbe

adminSeptember 18, 2026

Electricity supply has risen to as much as 18 hours daily in some parts of Nigeria that previously endured months of outages, Minister of Power, Joseph Tegbe, has said. Tegbe disclosed this on Wednesday in Abuja while speaking at the commissioning of a 3-megawatt solar hybrid power project at Yakubu Gowon University, formerly the University...

SAN Seeks Insurance Integration Into Government Processes

adminSeptember 17, 2026

Senior Advocate of Nigeria, Dr Omogbai Omo-Eboh, has called for insurance to be embedded in Nigeria’s public administration and fiscal planning, arguing that government can reduce unexpected financial burdens by adequately covering its assets, infrastructure and workforce. Punch reported that Omo-Eboh made the proposal at the second All-Inclusive Mass Media Training for Journalists organised by...

Dangote Refinery May Expand Public Offer If IPO Is Oversubscribed

adminSeptember 16, 2026

Dangote Petroleum Refinery may increase the portion of its shares available to investors if demand exceeds the number currently on offer under its ongoing public offering. According to Legit.ng, Aliko Dangote disclosed the possibility during an interview with Arise News on Tuesday, saying the refinery could release an additional 30 per cent of its shares...

Dangote Vaults Into World’s Top 40 As Refinery Valuation Sends Fortune To $51.3bn

adminSeptember 15, 2026

Africa’s richest man, Aliko Dangote, has made one of the biggest jumps on the global wealth rankings after Forbes placed his fortune at $51.3 billion, moving him from about 76th position to 36th among the world’s richest people. The dramatic increase is linked largely to the new valuation of his Lagos-based Dangote Petroleum Refinery and...

Fuel Price Hike: Abuja Commuters Trek As Transport Fares Jump

adminSeptember 15, 2026

Rising petrol prices are beginning to alter daily movement in Abuja, with commuters facing sharply higher fares and some residents abandoning commercial vehicles for trekking as the cost of transportation rises. The impact was evident in several parts of the Federal Capital Territory on Tuesday, where passengers at bus stops struggled to find affordable rides...

Lagos Traders Fear Chinese Retail Expansion Could Push Them Out Of Business

adminSeptember 15, 2026

Fears of losing their businesses to intensifying competition from Chinese nationals have driven traders at the Lagos Trade Fair Complex to stage a peaceful protest against what they described as the growing takeover of retail trading by foreign operators. The traders, who protested at markets within the Trade Fair Complex along the Lagos-Badagry Expressway, alleged...

VeryDarkMan Threatens MTN Lawsuit, Questions Dangote IPO

adminSeptember 15, 2026

Controversial social commentator Martins Vincent Otse, popularly known as VeryDarkMan, has threatened legal action against telecommunications giant MTN over the alleged use of his National Identification Number-linked phone number in advertisements promoting the proposed Dangote Industries share offering. VeryDarkMan, in a statement circulated on social media, said he had not authorised MTN to use his...

Dangote Urges Nigeria’s Billionaires To Turn Luxury Wealth Into Factories

adminSeptember 14, 2026

Africa’s richest man, Aliko Dangote, has challenged Nigeria’s wealthy citizens to channel more of their resources into factories and other productive investments capable of creating jobs, expanding industrial capacity and strengthening the economy. Dangote made the call on Monday as the Dangote Petroleum Refinery and Petrochemicals opened its public share offer, using his own experience...

Dangote Targets 10m Nigerians As Refinery IPO Opens

adminSeptember 14, 2026

Africa’s richest man, Aliko Dangote, has unveiled an ambitious plan to transform Nigerians from consumers of his petroleum products into shareholders in the Dangote Petroleum Refinery, targeting as many as 10 million investors through the company’s landmark initial public offering (IPO). Dangote, who described the offer as a “People’s IPO,” said the objective was to...

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...

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