BUSINESS Archives - Page 9 of 36

Femi Otedola Raises First HoldCo Stake To 21.95% With ₦77.6 Billion Share 0

Chairman of First HoldCo Plc, Femi Otedola, has increased his stake in the financial holding company to 21.95 per cent following the acquisition of 706,131,179 ordinary shares valued at approximately ₦77.6 billion, according to a regulatory filing on the Nigerian Exchange (NGX). The transaction, disclosed on Wednesday as an initial notification of insider dealing, revealed

₦480 Billion Meth Lab: Court Sets Date To Rule On NDLEA Demolition Request 0

The Federal High Court sitting in Lagos has fixed July 24, 2026, to rule on an application by the National Drug Law Enforcement Agency (NDLEA) seeking judicial approval to destroy a clandestine methamphetamine laboratory uncovered in a remote forest in Mowe, Ijebu East Local Government Area of Ogun State. Justice Musa Kakaki adjourned the matter

CBN Retains MPR At 26.5%0

The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 26.5 percent, maintaining its tight monetary policy stance as policymakers weigh moderating inflation against rising global economic uncertainties. The decision was announced on Tuesday by CBN Governor Olayemi Cardoso at the conclusion of the 305th Monetary Policy Committee (MPC) meeting

Petrol Price May Be Sold In Dollars If Naira-For-Crude Deal Fails – PETROAN Warns 0
- BUSINESS, SLIDE
- July 20, 2026
PETROAN warns Nigerians could begin buying petrol in US dollars if the Federal Government fails to restore the naira-for-crude deal with Dangote Refinery. Petroleum products retailers have warned that Nigerians may soon have to pay for petrol in US dollars if the Federal Government does not urgently restore the naira-for-crude arrangement with Dangote Refinery. The
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BUA To Commission 200,000-Barrel-Per-Day Oil Refinery In First Quarter of 2027 0
- BUSINESS, SLIDE
- July 19, 2026
BUA Group has announced plans to commence operations at its 200,000-barrel-per-day crude oil refinery in the first quarter of 2027, marking a significant milestone in Nigeria’s drive to boost domestic refining capacity. The upcoming refinery is expected to strengthen the country’s downstream petroleum sector by increasing the local production of refined petroleum products, reducing dependence
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Dangote Refinery Raises $2.5 Billion In Private Placement, Eyes August Public Listing 0
- BUSINESS, NEWS
- July 18, 2026
Dangote Petroleum Refinery has successfully raised $2.5 billion through a private placement as it moves closer to becoming a publicly listed company, with an initial public offering (IPO) expected as early as August. The development was disclosed by a senior executive of the refinery, who said the fundraising exercise attracted strong investor interest and forms
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