Aliko Dangote will retain 84.34% control of Dangote Petroleum Refinery after the company’s planned N2.15 trillion Initial Public Offering (IPO) Nairametrics reports. The figure comes from an analysis of the refinery’s IPO prospectus dated September 7, 2026. It shows that Dangote’s ownership is spread across several companies. Therefore, his total interest is higher than the…
Oil hits $100 as US-Iran strikes and Houthi attacks raise fears over global oil supplies and fuel prices. Oil prices have climbed to $100 a barrel as fresh US-Iran attacks shake the Middle East. Brent crude, the global oil benchmark, briefly reached $100 before falling to $99.90. It was the highest price since July. The…
Canada has fired back at the United States with fresh tariffs on American goods. The new taxes took effect on Tuesday. The measures target almost C$28bn worth of US products. They cover items such as steel, furniture and cotton T-shirts. Some products will face tariffs as high as 50%. Fresh fish and lobster were initially…
Anthropic has reportedly walked away from a proposed $6 billion deal to acquire Israeli AI startup Decart AI. The Claude maker had shown strong interest in the company. Bloomberg reported the development on Tuesday, citing people familiar with the talks. Anthropic also completed due diligence before ending the acquisition discussions. However, both companies could still…
The Dangote Refinery is set to launch its much-anticipated IPO next week. The company completed the signing of its offer documents in Lagos on Monday. The $1.6 billion offer could become Africa’s biggest public equity sale.The refinery will open the offer to everyday Nigerians across the country. Investors can subscribe with as little as 10…
Richard Branson blames rising flight prices on war, higher oil costs and inflation as Virgin Atlantic adds fuel surcharges. Branson Calls Iran War ‘Completely Unnecessary’ Virgin Group founder Sir Richard Branson has blamed rising flight prices on wars started by “foolish leaders”. His comments came as tensions in the Middle East continue to affect global…
The Central African Republic (CAR) has officially joined the African Organisation for Standardisation (ARSO). The move strengthens Africa’s push for common trade standards under the African Continental Free Trade Area (AfCFTA). CAR’s membership also expands ARSO’s reach across the continent. The organisation now covers more than 80% of Africa. Its wider membership supports the goal…
Nigeria’s Dangote Refinery is set to open its much-anticipated initial public offering (IPO) soon. Aliko Dangote says the IPO will launch within 10 to 12 days. The announcement has sparked fresh interest in the massive refinery project. The refinery is Africa’s largest and is owned by Nigeria’s richest man. Speaking to investors and analysts in…
Uber is leaving Nigeria after 12 years, ending its ride-hailing operations in the country on September 2, 2026. The company announced the decision in an email to users. “After a thorough review of our business, we have made the tough decision to wind down our operations in Nigeria, effective 2 September 2026,” Uber said. Uber…
Nigerian businessman and social media personality BLord has claimed that a bank offered him a ₦12 billion loan. He said he initially requested ₦5 billion to expand his gadget business. According to BLord, the bank contacted him after reviewing his request. He claimed the bank questioned why he asked for only ₦5 billion. The businessman…
