Nigeria’s current account surplus rose to $7.54 billion in the second quarter of 2026, up 67.9 per cent from $4.49 billion recorded in the first quarter, according to new data from the Central Bank of Nigeria (CBN). The latest figure was also 45.8 per cent higher than the $5.17 billion surplus recorded in the same…
Nigeria’s stock market has ended the week at another record high, with the value of listed equities rising to ₦162.16 trillion on Friday. The NGX All-Share Index also climbed to 249,804.56 points, up 1.42 per cent from Thursday’s close of 246,315.38 points. The latest gain means the market has continued its run of record highs…
Several Nigerian investment platforms struggled shortly after the Dangote Refinery’s public share offer opened, as investors rushed to buy into one of the country’s biggest-ever capital market deals. Bamboo, Cowrywise and InvestNaija were among the platforms where users reported difficulties. Bamboo said traffic on its platform jumped about 10 times within 30 minutes of the…
Nigeria’s naira-denominated government bonds are reentering a J.P. Morgan bond benchmark more than a decade after the country was dropped from the global investment bank’s flagship emerging-market index. J.P. Morgan has included Nigerian government bonds with a 7.4 per cent weighting in its new Government Bond Index–Emerging Markets Edge (GBI-EM Edge), a benchmark for local…
Nigeria’s return to the J.P. Morgan bond index after 11 years may sound like an investors’ and economists’ story. But beneath the finance-speak is a simpler question: what does it actually change for Nigeria? To summarize, the development could make Nigerian government bonds more visible and accessible to international investors, potentially bringing additional demand into…
The Dangote Refinery is set to offer Nigerians an opportunity to directly own shares in what is expected to be one of the largest companies on the Nigerian Exchange (NGX). The refinery is preparing for an Initial Public Offering (IPO), with the offer expected to open on September 14 and close on October 13, 2026….
Nigeria’s long-delayed $2.5 billion Badagry Deep-Sea Port project has received a fresh push after APM Terminals entered exclusive negotiations with the project developers over its potential development. The agreement was signed on September 7 in Copenhagen during a Nigerian government delegation’s visit to Denmark, bringing one of the country’s most ambitious port projects back into…
The motion on notice filed by Dangote Petroleum Refinery in its legal battle with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) over the actions of the regulator against the refinery will today, September 9, be heard by the Federal High Court in Lagos. The hearing was sequel to an interim order obtained by…
The Federal Competition and Consumer Protection Commission (FCCPC) has begun a probe into Uber’s exit from Nigeria to ascertain if the ride-hailing firm left customers with unrendered services or obligations unfulfilled.The FCCPC Chief Executive Officer, Tunji Bello, confirmed the development in a message to Bloomberg, saying the commission was investigating how Uber pulled out of…
Uber has announced the suspension of its ride-hailing operations in Nigeria after 12 years of service in Africa’s most populous country. The company also announced its exit from Uganda, saying the decision followed a review of its evolving business priorities and investment focus across Africa. Uber, which was founded in Lagos in 2014, subsequently expanded…
