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Otedola Strengthens Banking Stake With N43bn First HoldCo Share Purchase 0
- BUSINESS, SLIDE
- May 13, 2026
Nigerian billionaire businessman Femi Otedola has expanded his investment footprint in the financial sector with the acquisition of shares in First HoldCo Plc valued at over N43bn, according to market disclosures. The latest transaction further consolidates Otedola’s position as one of the most influential shareholders in Nigeria’s banking industry, reinforcing his long-term strategic interest in
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Dangote Refinery Supplied 79% Of Nigeria’s Petrol In April — NMDPRA Data 0
- BUSINESS, SLIDE
- May 13, 2026
The Dangote Refinery supplied approximately 79 per cent of Nigeria’s petrol consumption in April, according to new data released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The figures underscore the growing dominance of the Lagos-based refinery in Nigeria’s downstream petroleum market as local refining capacity continues to expand following years of dependence
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NNPC And NUPRC Remit N322bn, $116.9m After Tinubu’s Executive Order 9 Takes Effect 0
- BUSINESS, SLIDE
- May 12, 2026
Revenue inflows into Nigeria’s Federation Account have recorded a significant boost as the Nigerian National Petroleum Company Limited and the Nigerian Upstream Petroleum Regulatory Commission jointly remitted over N322bn and $116.9m within two months of the implementation of Executive Order 9 signed in February 2026. The figures were contained in documents presented at recent Federation
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Oil hits $104 as US-Iran peace deal fails 0
- BUSINESS, SLIDE
- May 12, 2026
Global crude oil prices surged to around $104 per barrel on Monday following escalating tensions between the United States and Iran, after both sides failed to reach an agreement aimed at ending the ongoing conflict in the Middle East. The market reaction comes amid renewed uncertainty over a potential ceasefire, with U.S. President Donald Trump
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FG Advances Talks With World Bank Over Fresh $1.25bn Loan 0
- BUSINESS, SLIDE
- May 12, 2026
The Federal Government of Nigeria has intensified discussions with the World Bank over a proposed $1.25bn loan aimed at supporting economic reforms, job creation, and investment competitiveness. According to findings obtained from a World Bank Programme Information Document, the proposed facility, known as the Nigeria Actions for Investment and Jobs Acceleration, has progressed to a
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NNPCL Under Fire Over Alleged Failure To Account For $3.5 Billion Refinery Rehabilitation Funds 0
- BUSINESS, SLIDE
- May 8, 2026
The Nigerian National Petroleum Company Limited (NNPCL) is facing mounting pressure following allegations that about $3.5 billion allocated for the rehabilitation of Nigeria’s state-owned refineries remains inadequately accounted for, sparking renewed calls for a full-scale investigation. The controversy centers on massive funds reportedly approved over the years for the rehabilitation of the Port Harcourt, Warri,
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