By Ayomide Otitoju Aliko Dangote is targeting a valuation of about $50 billion for his refinery business ahead of a planned initial public offering (IPO) in Nigeria later this year, according to a Bloomberg report citing people familiar with the matter. The proposed listing could involve the sale of up to a 10 per cent…
By Ayomide Otitoju Execution discipline and transparency are expected to shape the agenda of Nigeria’s Minister-Designate for Power, Joseph Olasunkanmi Tegbe, following his remarks to the Nigerian Senate that there is “no quick fix” to the country’s longstanding electricity crisis. Tegbe’s comments have drawn attention for departing from the optimistic rhetoric that has often characterised…
By Ayomide Otitoju Fidelity Bank Plc has reported a 45 per cent increase in gross earnings for the 2025 financial year, with shareholders’ funds surpassing the N1 trillion mark following sustained balance sheet growth and fresh capital injection. Analysis of the lender’s audited financial statements for the year ended December 31, 2025, showed that gross…
By Ayomide Otitoju For years, Africa’s financial landscape has been defined by one recurring statistic: millions of people remain unbanked. However, that narrative may no longer fully capture the continent’s evolving financial reality. Increasingly, the more relevant question is whether traditional banking itself is gradually becoming optional. Across several African countries, individuals and businesses are…
By Ayomide Otitoju NNPC Limited has reported an increase in crude oil, condensate and gas production for March 2026, according to its latest Monthly Report Summary. The report showed crude oil and condensate output rose to 1.56 million barrels per day, while gas production increased to 7,731 million standard cubic feet per day (mmscf/d), representing…
By Ayomide Otitoju Polaris Bank has been awarded the Private Sector Champion Award at the 2026 Jobberman Partners’ Convening held in Lagos, in recognition of its contributions to youth employment, talent development and workforce empowerment in Nigeria. The award, presented at the event held at Eko Hotel & Suites, Victoria Island, Lagos, recognises private sector…
By Ayomide Otitoju Access Holdings Plc has reaffirmed its commitment to long-term shareholder value and sustainable returns following its 2025 financial year performance, while explaining the decision not to declare a dividend for the period ended December 31, 2025. The clarification was given during the Group’s Full Year 2025 Investors and Earnings Call, where management…
By Ayomide Otitoju Adewale Adeniyi, MFR, who also serves as Chairperson of the World Customs Organisation Council, has reaffirmed Nigeria’s commitment to regional modernisation, unity and collective growth within West and Central Africa’s Customs community. He made the remarks at the 32nd Conference of Directors-General of Customs for the West and Central Africa (WCA) Region,…
By Ayomide Otitoju Aliko Dangote has held a high-level meeting with Nicolai Tangen, the manager of the world’s largest sovereign wealth fund, overseeing assets valued at about $1.9 trillion. During the meeting, the Norwegian investment institution expressed strong interest in partnering with the Dangote Group to expand investments across Africa, focusing on key sectors such…
