Yum! Brands has agreed to sell Pizza Hut in a $2.7bn deal that ends its long ownership of the brand. The business will now be split between two buyers. LongRange Capital will take control of operations outside mainland China, while Yum China Holdings will manage the China market. The transaction is expected to close in…
NGX market drops again as banking stocks lead losses, wiping N782 billion from investors in one session. Nigeria’s stock market slipped again on Tuesday, June 16, 2026, as selling pressure returned strongly. The NGX All-Share Index fell 0.50 percent to 241,984.80 points. Investors also lost about N782.44 billion in market value. Market capitalisation dropped to…
The UK sanctions Nigerian payment firm Pilot Finance over alleged Russia-linked transactions raising scrutiny and business risks. The United Kingdom has sanctioned Nigerian payment company Pilot Finance over alleged Russia-linked transactions. The firm, also known as Continental Global Incentives, was named in a new UK sanctions package announced on Tuesday. According to British authorities, the…
SpaceX buys Cursor for $60 billion after its record-breaking IPO. The deal could boost Grok AI and reshape the future of AI-powered coding. SpaceX has made its first major move after its historic stock market debut. The company announced it is buying AI coding startup Cursor for $60 billion. The deal comes only days after…
Naira strengthens to N1,356 per dollar at the official market as Nigeria’s foreign reserves climb to $50.51bn The naira gained strength on Monday in the official foreign exchange market. It closed at N1,356 per dollar. This is its best level since April 23, 2026. The previous close on Friday was N1,365.4 per dollar. That shows…
Dangote Refinery Cuts Petrol Price to ₦1,175 Per Litre Dangote Petroleum Refinery has reduced its petrol gantry price to ₦1,175 per litre. This latest price cut has sparked fresh discussions across Nigeria’s fuel market. Many marketers and consumers are already watching closely to see what happens next. As a result, fuel distribution costs could drop…
Petrol price in Nigeria may fall to ₦900 per litre if the US-Iran truce succeeds and crude oil prices continue to decline— Oil Marketers The possibility of cheaper petrol is raising fresh excitement across Nigeria. Industry operators say petrol prices could drop to as low as ₦900 per litre if the proposed peace deal between…
RBA Keeps Interest Rates on Hold, But More Hikes Are Still Possible Australia’s central bank has decided to keep interest rates unchanged at 4.35%. The decision comes after three rate hikes earlier this year. As a result, borrowers get a temporary break from rising loan repayments. However, the Reserve Bank of Australia (RBA) says inflation…
Airtime borrowing in Nigeria has reached a record ₦4.6 trillion as millions of people borrowed airtime to stay connected in 2025. New figures from fintech company Optasia show that mobile users across Africa and other emerging markets borrowed $3.18 billion worth of airtime on credit last year. Using the company’s exchange rate, this amounts to…
Kemi Badenoch blames “stupid policies” for Nigeria’s power crisis despite oil resources. The leader of the UK Conservative Party, shared this in an interview with The Spectator. Badenoch also said her time growing up in Nigeria shaped how she sees energy and government policy. She said, “My belief that we need to drill our oil…
