FG Pays $22.5m Charge on $1.5bn UAE Loan
FG paid $22.5m in charges on its $1.5bn UAE loan in Q2 2026, raising fresh concerns about the cost and risks of the controversial deal
Category: Business
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NNPC Oil Security Claims Hit N11.2tn as Profit Rises
NNPC oil security claims reached N11.2tn in 2025 as oil output rose and profit jumped to N7.2tn. Here is what the figure means. NNPC’s N11.2tn oil security bill The Nigerian National Petroleum Company Limited (NNPC) recorded N11.2tn in claims from the Federation in 2025. The figure covers advances and costs incurred on the government’s behalf….
Zimbabwe Tycoon Wicknell Chivayo and Wife Die in Helicopter Crash
Prominent Zimbabwean businessman Wicknell Chivayo and his wife, Lucy Muteke, have died in a helicopter crash in Zimbabwe. The tragic incident happened on Wednesday evening in Marondera, about 70km east of Harare. Police said six people died in the crash. Family spokesperson Herbert Chivayo confirmed the couple’s deaths to Zimbabwe’s state broadcaster, ZBC. “We are…
Dangote Blames Marketers, IOCs Over Lamu Refinery Protests
Dangote speaks on Lamu refinery protests Aliko Dangote has blamed local oil marketers and international oil companies (IOCs) for protests against his planned refinery in Lamu, Kenya. The Nigerian billionaire made the claim during an interview with the BBC’s Focus on Africa programme. He spoke as some Lamu residents protested over land acquired for the…
NNPC Says No Fixed Date Yet for Proposed IPO
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has said it has no fixed date for its proposed Initial Public Offering (IPO). The company made this clear after its Annual General Meeting in Abuja. NNPC Group Chief Executive Officer, Bayo Ojulari, spoke on the proposed NNPC IPO on Tuesday. He said the company is focused…
Dangote Commits $50bn to Africa’s Industrialisation
Dangote Unveils $50bn African Expansion Plan Aliko Dangote has committed an additional $50 billion to investments across Africa as he pushes for bigger African-owned businesses. The Dangote Group president announced the plan in Nairobi, Kenya, during an investor engagement hosted by the Nairobi Securities Exchange. Dangote said the Group has already invested more than $25…
Kenyan Court Halts Dangote Refinery Construction in Lamu Over Land Dispute
A Kenyan court has ordered a temporary halt to work on Dangote’s proposed refinery in Lamu County. The Malindi Environment and Land Court issued the order after farmers and residents in Chandavai challenged the project. They alleged forceful eviction and destruction of their properties. Judge Jane Onyango directed both sides to maintain the existing situation….
UK Diesel Price Hits Record High of 199.18p Per Litre
UK diesel prices have hit a record 199.18p per litre as Middle East conflict disrupts oil supplies and raises transport costs. Diesel Prices Break New Record Diesel prices in the UK have reached a record 199.18p per litre, according to the RAC. The sharp rise comes as conflict in the Middle East disrupts global oil…
Dangote: Kenya Refinery to Have Double Power Capacity
Dangote Group is planning a bigger and more powerful refinery in Kenya. The planned Kenya refinery in Lamu will have a 1,000-megawatt power plant. That is twice the power capacity of the Dangote Refinery in Lagos. The facility will also generate 500MW for sale to the Kenyan government. Dangote Group President Aliko Dangote disclosed this…
Google Unveils New AI Ad Tools for Nigerian Businesses
Google has unveiled new AI-powered advertising tools for Nigerian businesses. The tools will help companies track adverts and manage campaigns more effectively. Director of Google for East and West Africa, Olumide Balogun, announced the update in Lagos on Friday. The features come under Google’s AI Max for Search platform. They will give advertisers clearer insights…