Gbagi traders protest unfinished shops over alleged ₦2m payments
Traders protested over unfinished replacement shops, but the ₦2 million payment figure and delivery terms remain based largely on trader testimony....
Markets
Nigeria Negotiates ₦1,350 Petrol Cost Ceiling as Oil Shock Tests Price-Relief Plan
Nigeria's proposed petrol-cost ceiling and temporary NNPC margin concession promise relief, but supplier obligations and actual consumer savings remain unverified....
Naira’s official and parallel rates diverge as recorded FX trading activity rises
The naira strengthened marginally in the official market while one reported parallel-market indication weakened, widening the observed FX spread as recorded interbank trading activity rose sharply....
Dangote, marketers cut petrol depot prices as crude eases below $100
Dangote Refinery cut its Lagos PMS depot price from ₦1,350 to ₦1,325 per litre, while other marketers also reduced prices. The next test is whether lower wholesale prices reach motorists at the pump....
Naira hovers near ₦1,326/$ as Fed decision and CBN meeting put FX market on watch
The naira is holding near ₦1,326/$ as markets await the Federal Reserve’s September decision and the CBN’s next MPC meeting, with FX liquidity and intervention still under watch....
Nigeria returns to FTSE Frontier status September 21 — but foreign money must still choose to come
Nigeria returns to FTSE Russell’s Frontier Market classification on September 21, restoring global index visibility — but actual foreign inflows remain an outcome to be measured....
SEC clears Dangote Refinery IPO for September 14 opening as issuer pages show conflicting timetable
SEC approval has moved the Dangote Refinery IPO into an active capital-market phase, but conflicting issuer pages leave the definitive subscription timetable unresolved...
Dangote’s ₦2.15tn Test: Africa’s Biggest Share Sale Reaches the Signing Table
Dangote Refinery plans to sell 4.1 billion shares at ₦525 each. Behind the ₦2.15tn offer lies a potential ₦63tn valuation—and a defining test for Nigeria’s capital market....
FTSE confirms Nigeria’s Frontier return after T+1 settlement review
Nigeria’s return to FTSE Russell’s Frontier Market universe remains on schedule for September 21, with regulators also clarifying that foreign portfolio investors are not required to prefund trades under the new T+1 settlement cycle....
AfDB Says Africa Will Dominate Global Growth Rankings Despite Inflation, Debt Pressure And Economic Slowdown
Africa fastest growing economies are drawing renewed global investor attention after the African Development Bank projected that several African states will rank among the world’s strongest-performing economies despite inflation, debt pressure, and geopolitical instability. The AfDB says Africa is increasingly emerging as a major global growth frontier, intensifying international competition for capital, trade, energy, and strategic influence across the continent....