Over 140 petrol stations across South Africa have run out of fuel as motorists rush to fill their tanks ahead of record price hikes in April. The surge in demand has overwhelmed supply chains, leaving long queues and empty pumps in major cities. Reports show that demand in some areas tripled within 24 hours. Forcing…
The Afreximbank Bank has underwritten $2.5 billion of a $4 billion senior syndicated term loan for Dangote Petroleum Refinery and Petrochemicals FZE. Marking one of Africa’s biggest energy financing deals in recent years. Also, The facility, arranged alongside Access Bank as co-lead arranger, structured as a five-year loan aimed at strengthening the refinery’s financial position…
Nigeria has secured a major trade advantage as China grants zero-tariff access to all Nigerian exports starting May 1, 2026. The announcement was made in Abuja by Yu Dunhai, following the signing of a new economic partnership framework between both countries. Under the agreement, all Nigerian goods exported to China will enjoy 100% duty-free entry—removing…
The Federal Government has taken a major step to position Nigerian businesses for continental trade by launching a new report on digital payments and identity under the African Continental Free Trade Area. Also, Unveiled in Abuja by Ibrahim Hadejia, the report highlights how Micro, Small and Medium Enterprises (MSMEs) can tap into Africa’s $3.5 trillion…
The Wale Edun, Honourable Minister of Finance and Coordinating Minister of the Economy, has urged urgent measures to curb illicit financial flows. Which he warned continue to erode public revenue and heighten reliance on debt. Edun made the remarks while opening the 5th Special Technical Committee Sub-Committee. On Tax and Illicit Financial Flows, emphasizing the…
The Senate has approved President Bola Tinubu’s request for external loans totalling $6 billion to support government financing and infrastructure development. Tinubu had conveyed the request in two separate letters addressed to Godswill Akpabio, the Senate president, which were read during plenary on Tuesday. The upper chamber approved a $5 billion structured total return swap…
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). Has called on the World Bank to back a $22 billion initiative to expand gas infrastructure across Africa. Speaking at the Decade of Gas Ministerial Roundtable on Regional Gas Development. NMDPRA CEO Saidu Mohammed stressed that Nigeria poised to extend its gas ambitions beyond national borders…
The Nigerian Ports Authority (NPA) has proposed a revenue target of ₦1.489 trillion for the 2026 fiscal year, signaling an ambitious push to boost earnings from Nigeria’s port operations. The announcement made by Abubakar Dantsoho during the agency’s 2026 budget defence before the Senate Committee on Marine Transport. Focus on Efficiency and Port Reforms To…
BUA Foods Plc has announced a proposed dividend of ₦28 per ordinary share of 50 kobo, totaling a massive ₦504 billion payout to shareholders. The declaration follows the company’s record-breaking financial performance in 2025, reinforcing its position as one of Nigeria’s top-performing consumer goods firms. Strong Profit Despite Economic Challenges The dividend announcement highlights BUA…
International nonprofit TechnoServe, in partnership with The Coca-Cola Foundation, has launched PReP 2.0—an expanded phase of the Plastic Recycling Program in Nigeria. The initiative builds on earlier successes in southern Nigeria and aims to scale recycling efforts nationwide while creating sustainable economic opportunities. With Nigeria generating about 2.5 million metric tons of plastic waste annually….
