Business

The Nigerian Exchange Limited (NGX) has admitted an additional 3.16 billion ordinary shares of United Bank for Africa (UBA) Plc, to its Daily Official List, signalling a major enhancement of the bank’s market capitalisation whilst also deepening liquidity on the capital market.   The NGX noted this in a confirmatory letter to the bank, dated […]

There is a certain tone governments adopt when they believe they have won an argument by force of length. Nigeria’s presidential tax committee has produced such a document in response to KPMG’s critique of the new tax laws: sprawling, lawyerly, and studiously confident. It is also curiously evasive of the question that matters most; not […]

Shareholders commit to future injection of more capital to the Groups’ other subsidiaries   First HoldCo Plc (“FirstHoldCo” or “the Group”) has announced that its commercial banking subsidiary, First Bank of Nigeria (FirstBank), has successfully met the Central Bank of Nigeria’s (CBN) minimum capital requirement of ₦500 billion. This milestone was achieved following the completion […]

When Heirs Energies announced its acquisition of Maurel & Prom’s 20.07% stake in Seplat Energy, valued at roughly $500m and financed with a hefty $750m loan from Afreximbank; it was more than a corporate transaction. It was a statement of intent. At a time when Western oil majors are fleeing African hydrocarbons and global capital […]

 FirstBank, West Africa’s premier financial institution and financial inclusion service provider is pleased to announce the Nigeria Economic Outlook 2026 scheduled to hold on Tuesday, 6 January 2025. The theme of the session is “The Great Calibration: Mastering Resilience in an Era of Asynchronous Growth”   Nigeria Economic Outlook is an annual customer-facing session which […]

  Nigeria’s national oil company, NNPCL is preparing to sign its largest crude-for-cash deal yet, a $4.7bn financing with Saudi Aramco that would refinance an earlier $3.3bn facility known as Project Gazelle. After two years of negotiation, the agreement promises immediate liquidity, steadier production and a temporary salve for Nigeria’s chronic dollar shortage. It also […]

In an era when Africa is too often described by its deficits, Africa’s richest man, Alhaji Aliko Dangote has chosen to define the continent by its possibilities. Few private citizens have so deliberately aligned personal ambition with continental destiny. Fewer still have pursued that alignment with the scale, patience and audacity that Dangote has brought […]

A United Nations panel of human rights experts has accused Nigerian oil regulators and government officials, including President Bola Tinubu of collusion and corruption in their handling of multi-billion dollar divestment deals between the country’s petroleum authorities and four international oil majors – Shell, Eni, ExxonMobil, and TotalEnergies. The experts say the sales were approved […]

FirstHoldCo Plc has sustained its growth momentum across core business segments, reporting a 17.1 percent year-on-year increase in gross earnings to ₦2.64 trillion for the nine months ended September 30, 2025, compared to ₦2.25 trillion in the corresponding period of 2024.   According to the unaudited results released by the Group, interest income rose sharply […]

How a state oil company’s scramble for refinancing in Riyadh – and Petrobras’s tentative re-entry – expose the paradox at the heart of Nigeria’s energy policy: great potential, shaky finances, and political risk concentrated in a single office.   The moment: a national oil company in a global lobby In late 2025, the Nigerian National […]