Category: Industry

Dangote Refinery Begins Landmark IPO Today

Gideon Myek

Dangote Petroleum Refinery & Petrochemicals FZE today announced the commencement of its Initial Public Offering (IPO), marking a historic milestone in Nigeria’s economic development and the evolution of Africa’s capital markets. The offer will be formally launched at a ceremony on the trading floor of the Nigerian Exchange (NGX) in Lagos, bringing to the public, for the first time, an opportunity to own a stake in Africa’s largest refinery and one of the world’s most significant industrial projects. The IPO, which opens today, September 14, 2026, consists of 4.1 billion…

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FG: Dangote Refinery critical to Nigeria’s $1trn economy vision

Justina Emmanuel-Okpara

The Federal Government has described Dangote Petroleum Refinery and Petrochemicals as a cornerstone of Nigeria’s ambition to build a $1 trillion economy, pledging deeper collaboration with the private sector to accelerate industrialisation, job creation, and economic transformation. Minister of State for Industry, Senator John Owan Enoh, made the declaration yesterday after leading a high-level delegation from the Ministry on an extensive tour of the 700,000 barrels-per-day Dangote Petroleum Refinery, Dangote Petrochemicals complex and Dangote Fertiliser Limited in Lagos. The Minister described the integrated industrial complex as one of the most…

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Recapitalisation: NAICOM Warns Insurers Against Missing July 31 Deadline

Justina Opara

Commissioner for Insurance and Chief Executive Officer, National Insurance Comission (NAICOM), Mr. Olusegun Ayo Omosehin, has warned insurance operators that the July 31 recapitalisation deadline is regulatory and not symbolic, urging companies yet to meet the new minimum capital requirements to act with urgency. Speaking on Friday at the investiture of Mr. Akinjide Oluwarotimi-Orimolade as the 53rd President and Chairman of Council of the Chartered Insurance Institute of Nigeria (CIIN) in Lagos, Omosehin said the recapitalisation exercise remained a critical pillar of the Commission’s ongoing reforms aimed at building a…

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Defamation: Ibrahim Files ₦50 Billion Suit Against Punch, Columnist Over UN Appointment Critique

Justina Emmanuel-Okpara

A major legal battle is unfolding in Nigeria’s media and political landscape after Senator Jimoh Ibrahim filed a ₦50 billion defamation suit against Punch Newspapers and veteran columnist Sonala Olumhense over a sharply critical opinion article questioning his suitability for diplomatic office. The lawsuit follows the publication on March 15, 2026 of Olumhense’s column titled “Jimoh Ibrahim, in broad daylight,” which examined the senator’s record shortly after his appointment as Nigeria’s Permanent Representative to the United Nations by President Bola Ahmed Tinubu. The column, written in Olumhense’s characteristic accountability style,…

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US Revokes Nobel Laureate, Wole Soyinka’s Visa

Justina Emmanuel Opara

The United States of America has revoked the visa of Nobel laureate, Professor Wole Soyinka. Soyinka said on Tuesday that the United States of America had made his entry into the country impossible for now. He disclosed this during a media parley held at Kongi’s Harvest Gallery, Freedom Park, Lagos Island, saying he was unaware of any wrongdoing that could have warranted the revocation. “It is necessary for me to hold this conference so that people in the United States who are expecting me for this event or that event do…

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Nigeria Trails In African Insurance Market Provisional Turnover Ranking

Justina Emmanuel Opara

A new report by Atlas Magazine has placed Nigeria in 8th position among top 10 African countries with projected market turnover of $73.42 billion. The estimates by the Magazine put Nigetia’s market share in Africa at 1.4 per cent. The rankings show that the sector is dominated by South Africa, followed by Morocco, Kenya, Egypt, and Algeria. These five countries account for a total market share of 87 per cent in 2024, while the top 10 countries underwrite 93.6 per cent of the continent’s premiums. Other countries listed include Tunisia,…

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Mining: EBID Invests $120m Financing Facility In Ghana’s E&P To Acquire Black Volta

Admin

The Board of Directors of the ECOWAS Bank for Investment and Development (EBID)has approved a $120 million financing facility for Engineers & Planners Limited (E&P), a leading indigenous mining and construction firm in Ghana, to acquire the Black Volta Gold Mine. A statement made available to this medium by Anita SOMDA of the communication and external relations unit, EBID, said this transaction marked a significant step toward establishing Ghana’s first fully indigenous, wholly owned mining company, aligning with global standards for local participation and sustainable resource development. The transaction, which started…

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Tax Reforms: Opportunity To Rebuild Fiscal Compact, Promote Equity—Expert

Admin

…says women still face structural disadvantages A development economist and fiscal governance expert, Professor Chiwuike Uba, has commended the signing into law of the tax reform bills. Describing the reforms as a historic opportunity to rebuild fiscal compact, promote equity as well as restore public trust, he said Nigeria’s tax system had long been a microcosm of the country’s wider governance dysfunction—characterised by a narrow tax base, over-taxed wage earners, chronically under-taxed elites, a vast informal sector, and public mistrust rooted in decades of poor service delivery and corruption. He,…

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IHG Hotels And Resorts Strengthens Presence In West Africa With Signing Of Crowne Plaza Lagos

Admin

IHG Hotels & Resorts, one of the world’s leading hospitality companies, has announced the signing of Crowne Plaza Lagos Ikeja, a 119-rooms hotel scheduled to open in early 2028 under a franchise agreement with Watercress Hotel International Limited and to be operated by Valor Hospitality Partners, a global leader in integrated hotel management and operations solutions, and one of IHG’s trusted partners. The signing represents a strategic milestone in IHG’s expansion across the African continent and reinforces its commitment to strengthening its presence in key cities. Strategically located in Lagos’…

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Elumelu: Africa needs massive capital for investments

Admin

…we continue to support critical projects that uplift communities   The Founder, The Tony Elumelu Foundation, Mr. Tony Elumelu, has reaffirmed that African continent needs massive capital for investments. Elumelu, also the Chairman of United Bank for Africa (UBA), stated this on his X handle while reflecting on his visit to Abidjan, Côte d’Ivoire, for the launch of @UnitedCapital’s West African headquarters. According to him, “yesterday, I was in Côte d’Ivoire to mark a new milestone in our pan-African journey: launching @UnitedCapital’s West African headquarters. This is a major step in our mission…

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