Nigerian startups attracted $635 million in funding between January and September 2026, restoring the country’s position as Africa’s leading startup investment destination. The recovery comes as funding declined in other …
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Business & Markets
Nigeria has slipped two places to eighth in the 2026 Absa Africa Financial Markets Index, despite foreign exchange reforms and efforts to strengthen its capital market. The country scored 63 …
- BusinessBusiness & MarketsBusiness Updates
Allan Gray Favours Nigerian Stocks Over South Korea’s Kospi
Allan Gray Ltd., an investment management firm overseeing $29 billion in assets, is favouring Nigerian equities over South Korean stocks, citing their potential to diversify portfolios away from the artificial …
- BusinessBusiness & MarketsBusiness and Economy
J.P. Morgan, Absa Target Nigeria as Foreign Banks Retreat from Africa
International and African banking groups are increasing their interest in Nigeria’s corporate and investment banking market, even as some European lenders scale back operations across the continent. J.P. Morgan plans …
The planned $1.6 billion initial public offering (IPO) of Dangote Petroleum Refinery has highlighted the challenges of cross-border investment in Africa, despite growing interest in the continent’s industrial sector. The …
Nigeria’s capital market is facing a major test as the planned initial public offering (IPO) of Dangote Petroleum Refinery and Petrochemicals targets 10 million retail investors, well above the country’s …
- BusinessBusiness & MarketsElectionInternational
US Jobs Market Slows Sharply as September Hiring Falls
The US labour market recorded a sharp slowdown in September, with employers adding only 29,000 jobs in the latest figures ahead of the country’s midterm elections. Employment levels remained largely …
Nigeria is seeking to attract more than 100 Chinese oil and gas equipment manufacturers to establish production facilities in the country as it looks to expand local manufacturing, promote technology …
- BusinessBusiness & MarketsBusiness and Investment
Dangote Refinery Hits 700,000bpd as Fuel Imports Decline
Dangote Petroleum Refinery recorded its highest-ever capacity utilisation in August, operating at 105.21 percent of its 700,000-barrel-per-day nameplate capacity. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) …
The Nigerian National Petroleum Company Limited has said it does not yet have a fixed date for its proposed initial public offering (IPO), noting that the decision will ultimately be …