Nigerian banks have taken over and placed Nestoil Limited under receivership over alleged debt amounting to $1 billion. On October 22, 2025, a federal high court in Lagos issued a Mareva ruling allowing First Trustees and its subsidiary, FBNQuest Merchant…
Dangote Cement Posts Record $743bn Profit Despite Flat Volumes in 9M 2025 Dangote Cement Plc (DANGCEM) has reported a phenomenal nine-month result for the period ending September 30, 2025, with Profit After Tax (PAT) surging by $166.3\%$ to a record…
Harmony Gold Completes $1.01 Billion MAC Copper Acquisition: Patrice Motsepe’s Strategic Copper Play South Africa’s largest gold producer, Harmony Gold, has finalized the acquisition of MAC Copper Limited, the owner of the high-grade CSA Copper Mine in New South Wales,…
Debating Nigeria’s Trajectory: A Macro-Economic Analysis of the “Turn Towards Prosperity” Wale Edun’s narrative, “Nigeria turning towards prosperity,” presents a compellingly optimistic case for the country’s economic direction, anchored in the bold, foundational reforms initiated by the Tinubu administration. From…
$1.3 Billion Chinese Lithium Flood: Nigeria’s Solid Minerals Sector Booms from ‘Mine to Market’ Policy. Join our WhatsApp community The Investment Surge: $1.3 Billion in Lithium Processing Minister of Solid Minerals Development, Dr. Dele Alake, has disclosed that Chinese firms…
Nigeria’s financial services landscape is undergoing a quiet revolution. With over 1.5 million agents now active across the country and mobile money transactions climbing by more than 1,500 % between 2021 and 2025, the digital payments wave is reshaping how…
‘Massive Win’: Nigeria Kicks FATF Grey List! Fintech CEOs Cheer Cheaper, Faster Cross-Border Payments. Join our WhatsApp community The Great Escape: Nigeria Sheds the ‘High-Risk’ Label Nigeria has officially exited the Financial Action Task Force (FATF) grey list, ending nearly…
The Dangote Surge: How Africa’s Richest Man Hit $30.2 Billion—And Built a Fortune on Cement, Oil, and Fertilizer The Billionaire Benchmark: Dangote’s Net Worth Hits a New High Africa’s wealthiest man, Aliko Dangote, has cemented his position as a global…
Tony Elumelu gets appointed to the Advisory Council of the International Monetary Fund (IMF). Nigeria’s prominent billionaire, Tony Elumelu, has been appointed to the International Monetary Fund’s (IMF) Advisory Council on Entrepreneurship and Growth, convened by Kristalina Georgieva, the fund’s…
The Dangote Petroleum Refinery has announced a reduction in the ex-depot price of Premium Motor Spirit (PMS), commonly called petrol, from N890 to N825 per litre, effective from 27th February 2025. This price change shows a reduction of N65.00. According…
Over the last one year, Robert has regarded his $20bn Dangote Petroleum Refinery in Lagos. With Nigeria gaining publicity from the refinery, Dangote’s personal smirk seems to be coming back dear to him; indeed, Forbes claims that the man from…
