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South Africa proposes new $30 fee for ETA applicants

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Berger Paints H1 pre-tax profit hits ₦1.20bn on strong

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Senator Natasha urges reciprocal visa measures for South African

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Shipping crisis stalls Dangote fuel distribution
Investment

Dangote Refinery IPO offers US dollar dividends to attract investors

Africa’s richest man, Aliko Dangote is seeking to draw investors into the planned listing of his refinery business by anchoring returns to United States dollar-denominated dividends, as he prepares to float about 10 per cent minority stake in one of Africa’s largest industrial assets to fund a sweeping expansion programme. The billionaire industrialist plans to […]

Opinion

Foreign interests hindering Africa’s refineries, Dangote warns

Africa’s richest man and President of Dangote Group, Aliko Dangote, has said that entrenched foreign interests are undermining Africa’s industrial development and slowing the continent’s push toward economic self-sufficiency. Dangote made the remarks while speaking at the Investing in Africa Forum, held on the sidelines of the ongoing IMF/World Bank 2026 Spring Meetings in Washington […]

featured Oil and Gas

Oil prices drop as Iran declares Strait of Hormuz ‘completely open’

Oil prices plunged Friday after Iran’s Foreign Minister Abbas Araghchi said the vital Strait of Hormuz was “completely open” for commercial tankers and cargo ships during the US-Iran ceasefire. International benchmark Brent North Sea crude plunged 10 per cent to $89.11 a barrel, after earlier falling five percent on US-Iran peace deal hopes. The main […]

Finance

CBN introduces new Nigerian overnight financing rate benchmark

The Central Bank of Nigeria and Financial Markets Dealers Associations have introduced the Nigerian Overnight Financing Rate as the new money market benchmark to promote consistent pricing of money market instruments. According to Vanguard, the CBN disclosed this Friday in a circular signed by its Acting Director, Corporate Communication, Mrs. Hakama Ali. “The Central Bank […]

featured Finance

Tinubu signs ₦68.32trn 2026 budget into law

President Bola Tinubu has signed the 2026 Appropriation Bill into law, authorising an aggregate expenditure of ₦68.32 trillion for the current fiscal year. He also signed a separate bill extending the implementation period of the 2025 budget from March 31 to June 30, 2026. The budget allocates ₦4.799 trillion for statutory transfers and ₦15.8 trillion […]

Airtel Africa purchases 491,861 shares from Citigroup Global
Telecommunications

Airtel temporarily suspends airtime, data borrowing services

Airtel Nigeria has announced the temporary suspension of its airtime and data credit services, which previously allowed eligible prepaid customers to borrow airtime or data and repay on their next recharge. The PUNCH reported that in a statement on Friday, the Director, Corporate Communications & CSR Airtel Nigeria, Femi Adeniran, said the decision is part […]

featured Finance

CBN bars under-18s from BVN registration starting May 1

The Central Bank of Nigeria has restricted Bank Verification Number enrolment to persons aged 18 years and above as part of new amendments to its regulatory framework for BVN operations in the banking industry. Tribune reported that the apex bank disclosed this in a circular issued to all banks, other financial institutions and payment service […]

Finance

Employees ₦30bn pension contributions stuck in PFAs accounts – PENCOM

Nearly N30 billion in pension contributions is currently stuck with Pension Fund Administrators instead of reaching employees’ accounts. The National Pension Commission attributes this N29.84 billion backlog to employer errors, such as inconsistent data and irregular schedules, which prevent the transfer of funds to individual Retirement Savings Accounts. Stanbic IBTC accounts for nearly half of […]

Electricity featured

Reps to approve debt relief for Kano, Jos, Ikeja DisCos

The House of Representatives Public Accounts Committee has resolved to approve financial relief measures and a 10-year debt restructuring framework for the Kano, Jos, and Ikeja Electricity Distribution Companies. The decision covers N128.6bn in accrued interest on debts from 2015 to September 2025 to be waived, and historical debts amounting to N120.1b to be restructured […]

featured Finance

Nigeria targets PPPs to close $2.3trn infrastructure funding gap

Nigeria is intensifying efforts to close its vast infrastructure deficit, estimated at $2.3 trillion between 2020 and 2043, as it turns to public-private partnerships to mobilise funding beyond limited government resources. BusinessDay reported that speaking on the sidelines of the Global Infrastructure Facility, a G20 initiative, at the IMF/World Bank Spring Meetings in Washington, Jobson […]

featured Finance

FG rules out borrowing from IMF’s $50bn Africa aid

The Federal Government on Thursday declared that it has no plan to approach the International Monetary Fund to borrow from the estimated $50bn, which the IMF had earlier announced on Wednesday that it plans to use to support struggling economies in Africa. The PUNCH reported that the Minister of Finance and Coordinating Minister for the […]

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