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Business & Economy

Crude theft surges in Q4 despite record N8.67 trillion security spending

At the current reference price of $100.12 per barrel, the 3.33 million barrels crude theft would amount to approximately N448bn loss to the country ABUJA...

Oyedele: Technology holds key to Nigeria’s economic transformation

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has identified investment in technology and digital infrastructure as critical to Nigeria’s...

Nigeria’s private sector growth strengthens in October as PMI rises to 53.2 points

All five component indices remained above the 50-point threshold, reflecting improvements in production, new orders, employment, raw materials inventory and suppliers' delivery time. Nigeria’s private...

Tinubu seeks senate approval for fresh N10.79trn foreign loan as Nigeria’s debt hits N166.79trn

In dollar terms, however, the country's debt stock increased from approximately $113.42 billion in June 2023 to $120.93 billion in June 2026, reflecting a...

NNPC eyes 5%–10% stake sale through proposed IPO

The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its shares to the public through a proposed...

FirstHoldCo surpasses GTCO in nine-month gross earnings and pre-tax profit

FirstHoldCo Plc recorded higher gross earnings and profit before tax than Guaranty Trust Holding Company (GTCO) Plc in the nine months ended September 30,...

OPay Raises $304m in landmark NYSE debut, hits $4bn valuation

Nigeria-focused fintech giant OPay has made a major leap onto Wall Street, raising $304 million in an initial public offering that values the digital...

OPay targets $4.42 billion valuation in US IPO despite Nigeria generating nearly 90% of revenue

Nigeria-focused fintech OPay is seeking a valuation of up to $4.42 billion in a proposed initial public offering (IPO) in the United States, despite...

Electricity Tariff: Power minister rules out hike as finance minister signals cost-reflective pricing in 2027

The Federal Government has sent seemingly conflicting signals on electricity tariffs, with the Minister of Power, Joseph Tegbe, ruling out plans for an increase...

Elumelu’s stake in Seplat Energy rises to 21.07% as Heirs acquires additional six million shares

Heirs Energies Limited, a company controlled by Nigerian billionaire businessman Tony Elumelu, has acquired an additional six million shares in Seplat Energy Plc in...

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