President of Dangote Industries Limited, Aliko Dangote, has said the Dangote Petroleum Refinery is targeting up to 10 million shareholders across Africa, with priority to be given to small retail investors as the company seeks to broaden ownership of the multibillion-dollar facility. Dangote made the remarks in an interview as the refinery’s landmark Initial Public … Read more
The much-anticipated Initial Public Offering (IPO) of the Dangote Petroleum Refinery and Petrochemicals has officially opened, giving Nigerians and other eligible investors an opportunity to acquire shares in one of Africa’s largest industrial projects. The offer, which commenced on Monday, September 14, 2026, involves 4.1 billion ordinary shares priced at ₦525 per share. If fully … Read more
Nigeria’s downstream petroleum sector is facing a fresh dispute over petrol imports as Dangote Petroleum Refinery and Petrochemicals considers restricting Premium Motor Spirit (PMS) sales to major marketers that continue to bring petrol into the country. The proposed move is being linked to concerns over product quality, alleged blending of imported petrol with refinery-supplied PMS, … Read more
Former Minister of Youth and Sports Development, Solomon Dalung, has thrown his weight behind calls for the reintroduction of fuel subsidy in Nigeria, arguing that the removal of the policy has failed to deliver meaningful benefits to ordinary citizens. Dalung made the position known on Tuesday during an interview, where he assessed some of the … Read more
President Bola Ahmed Tinubu has directed the Federal Ministry of Works to take immediate action on the worsening condition of the Benin-Agbor-Asaba road and the Ifaki-Kabba-Ado Ekiti corridor, following prolonged gridlock that has left motorists and commuters stranded for hours and, in some cases, days. The directive was disclosed on Tuesday, August 25, 2026, by … Read more
The Federal Government has said the removal of fuel subsidy and reforms in Nigeria’s foreign exchange market generated an estimated ₦15.8 trillion in additional resources for the federation between June 2023 and December 2025. The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed the figure on Wednesday while presenting the Government’s … Read more
Nigeria’s monthly revenue-sharing figures have crossed a new threshold under President Bola Tinubu’s administration, with Finance Minister and Coordinating Minister for the Economy, Taiwo Oyedele, attributing the increase to reforms introduced by the Federal Government. Oyedele said the Federation Account Allocation Committee, FAAC, now distributes more than ₦2 trillion to the three tiers of Government … Read more
Egypt has lifted a two-week restriction that prevented empty Iraqi trucks from entering the country, allowing privately operated Iraqi vehicles to resume crossing into Egyptian territory from Monday, August 17, 2026. The development ends a disruption that had affected road freight operations between Iraq and Egypt since August 1 and followed diplomatic engagement between Iraqi … Read more
The Made in China Goods Traders’ Association of Nigeria has asked the Chinese Consulate in Lagos to support a range of initiatives covering healthcare, artificial intelligence, education and international trade. The Association made the appeal in a letter signed by its National President, Oluwole Adigun, and addressed to the Consul-General of China in Lagos, Mrs. … Read more
The Federal Ministry of Finance has come under scrutiny over unresolved financial issues contained in the Nigeria Extractive Industries Transparency Initiative’s audit of the oil and gas sector, with officials pointing to difficulties in obtaining records from key petroleum agencies, particularly the Nigerian National Petroleum Company Limited. The disclosure was made on Thursday, August 13, … Read more