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Dangote and Benedict Peters Emerge as Biggest Winners of Hormuz Crisis

KEY POINTS The Hormuz crisis has tightened global oil supply, increasing demand for Nigerian crude and refined products. Dangote Refinery and Aiteo, led by Aliko Dangote and Benedict Peters, are emerging as major beneficiaries of the shift. Nigeria’s production gains are being undermined by...

May 29, 2026

Politics

Omo-Agege Dumps APC, Joins NDC for 2027 Senate Race

KEY POINTS Senator Ovie Omo-Agege has joined the NDC and declared for the Delta Central Senate seat ahead of the 2027 elections. He accused past Delta administrations of failing to convert oil wealth into meaningful development for residents. The NDC described his defection as...

May 29, 2026

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Business

Standard Chartered Meets CBN N200bn Capital Rule Ahead of March 2026 Deadline

KEY POINTS Standard Chartered Bank Nigeria met the CBN N200bn capital requirement in November...

January 8, 2026

Business

SIFAX Sets Tech-Driven Push for 2026 Expansion

SIFAX Group is entering 2026 with a technology-led strategy focused on execution, efficiency and expanding its logistics and financial services footprint across West Africa.

January 8, 2026

Business

Dangote Refinery Warns of Steep Petrol Price Surge

Dangote Refinery says petrol prices could hit ₦1,400 per litre without domestic refining, warning that heavy import reliance leaves Nigeria exposed to sharp fuel cost swings.

January 8, 2026

Business

Nigeria’s New Tax Regime Spares Bank Balances, says CITN

Nigeria’s new tax regime does not tax bank balances, applying only limited stamp duty on transfers while expanding protections for low-income earners, officials say.

January 7, 2026

Business

AA Rano Unveils Nigeria’s First Unmanned Fuel Stations

AA Rano is introducing Nigeria’s first automated fuel stations, enabling 24-hour self-service fueling and digital payments through locally developed technology.

January 7, 2026

Business

Indimi Gains $22 Million as Jaiz Bank Shares Rally in 2025

Mohammed Indimi added $22 million to his wealth after Jaiz Bank shares rallied in 2025, helped by renewed investor interest and a stronger naira.

January 7, 2026

Business

Nigeria SEC Plans Tougher Market Policing in 2026

Nigeria’s SEC says it will intensify market enforcement in 2026, using new legal powers to tackle abuse, improve transparency and strengthen investor confidence.

January 6, 2026

Business

Nigerian Stocks Top N100 Trillion as Buying Spree Lifts Confidence

Nigerian equities opened the week on a strong note, with NGX market capitalisation surpassing N100 trillion amid broad buying and improved investor sentiment.

January 6, 2026

Business

Rabiu’s Fortune Nears $10 Billion After BUA Rally

Abdul Samad Rabiu’s fortune climbs to about $9.7 billion as BUA Cement and Foods shares rally, pushing him closer to the $10 billion mark.

January 6, 2026

Business

Nigeria Petrol Price War Deepens as MRS Pushes Cuts

Aggressive fuel discounts by MRS Oil following Dangote refinery cuts are forcing NNPC and rivals to slash prices, intensifying competition across Nigeria’s petrol market.

January 5, 2026

Business

Flutterwave Expands Beyond Payments With Mono Acquisition

Flutterwave’s acquisition of open-banking startup Mono signals a strategic shift toward data-driven fintech, targeting credit access and deeper financial infrastructure across Africa.

January 5, 2026

Business

Cosgrove Founder Gifts Staff ₦4 Billion Properties in Reward

Cosgrove Investment Limited founder Umar Abdullahi approved ₦4bn worth of company properties as gifts to staff, a rare employee reward that drew attention across Nigeria’s business community.

December 30, 2025