News
Dangote Refinery’s ₦2.15trn IPO hits a milestone
Nigeria’s SEC has approved Dangote Petroleum Refinery’s public share sale, putting the order book for 4.1 billion shares on course to open within days.
Damilola EsebameSep 5, 2026
Head of Content & Senior Finance Journalist
Articles by Damilola Esebame
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News
Dangote sets Africa’s $5bn IPO on a countdown
Dangote’s 650,000-barrel-per-day refinery is about to test Africa’s capital markets with a $5 billion public offering that could reshape the continent’s investment landscape.
Damilola EsebameSep 4, 2026
News
Dangote lifts Nigeria refining to record 43.94% in Q2
Dangote Refinery pushed Nigeria’s oil refining growth to its highest print under the rebased GDP series, fresh NBS data confirms.
Damilola EsebameSep 1, 2026
News
Moove’s next chapter after 76 Lagos vehicles is massive
Moove pulled off the largest single funding round by an African startup in 2026, and it is betting everything on robotaxis.
Damilola EsebameAug 31, 2026
News
Aradel surges 5.7% as NGX selloff claims another ₦443bn
Aradel Holdings snapped a brutal two-day losing streak on August 21, but the broader Nigerian equities market kept sliding for a ninth straight session.
Damilola EsebameAug 22, 2026
News
Dangote offers 30% stake to three East African nations
Dangote is carving out a $1.5 billion slice of his planned Kenyan mega refinery for regional governments eager to buy in.
Damilola EsebameAug 21, 2026
News
Dangote raises petrol by ₦20 yet still undercuts rivals
Dangote Petroleum Refinery hiked its wholesale petrol price for the first time in weeks. Rival depots across Lagos are still charging more per liter despite the ₦20 increase.
Damilola EsebameAug 21, 2026
News
Sterling draws 185,000 shares as NGX sentiment sours
Sterling Financial Holdings drew over 185,000 shares on August 19 without budging from ₦7.75, while the Nigerian Exchange shed ₦556 billion in its seventh straight session of losses.
Damilola EsebameAug 20, 2026
News
Oyedele breaks down where Nigeria’s ₦15.8tn went
Oyedele’s reform scorecard shows the Federal Government kept only ₦5.43tn of the ₦15.8tn in subsidy savings while spending pressures ballooned to ₦30.64tn
Damilola EsebameAug 20, 2026
News
Standard Bank chases OPay stake before $4B US IPO
Africa’s largest lender is in discussions to buy into OPay before the Nigerian fintech lists its shares in New York later this year.
Damilola EsebameAug 19, 2026
News
First HoldCo slips to ₦130 as big banks trade sideways
First HoldCo shares dropped to their lowest level in two weeks while GTCO, Zenith, and UBA barely moved, as the NGX shed ₦544 billion in a single session.
Damilola EsebameAug 19, 2026
News
Airtel Africa adds $15m more firepower to share buyback
Airtel Africa expanded its Barclays buyback agreement just three months into a program that has already consumed over 18 million shares, and the company is not slowing down.
Damilola EsebameAug 18, 2026
News
Otedola deepens First HoldCo grip with 147m shares
Otedola’s Calvados Global Services just dropped another ₦20.68 billion on First HoldCo stock, pushing his ownership past 26% as the billionaire chairman inches closer to a regulatory tripwire.
Damilola EsebameAug 18, 2026
News
NGX rewrites the rules for Nigeria’s priciest stocks
NGX’s revised pricing framework could reshape how much capital it takes to move premium stock prices on the Nigerian exchange.
Damilola EsebameAug 17, 2026
News
PwC warns of tax traps in Nigeria’s crypto rules
PwC Nigeria flagged critical gaps in the country’s first virtual asset tax framework that could over-tax compliant crypto investors and exchanges.
Damilola EsebameAug 15, 2026
News
Dangote Sugar lands ₦486bn despite crushing debt
Dangote Sugar pulled off one of Nigeria’s largest equity raises with investors piling in, even as the refiner carried a staggering ₦628 billion debt load on its books.
Damilola EsebameAug 15, 2026
News
Dangote Refinery shelves foreign listing for 3+ years
Dangote Refinery is preparing what could become Africa’s largest IPO, but the company’s CEO just slammed the brakes on a key part of the global expansion plan.
Damilola EsebameAug 14, 2026
Taxes
Did VAT actually increase in Nigeria in 2026? Here’s what really happened
The VAT increase rumor in Nigeria refuses to die, but the final law tells a different story from the one most people heard first.
Damilola EsebameAug 14, 2026
Taxes
Top-up tax for Nigerian multinationals — global minimum tax explained
The Nigeria Tax Act forces parent companies of large multinational groups to pay a top-up tax in Nigeria, closing gaps that once let profits sit untaxed in low-rate jurisdictions abroad.
Damilola EsebameAug 13, 2026
News
BUA Cement buckles below ₦300 in broad market retreat
BUA Cement shares fell nearly 9% in a single session, dragged down by broad selling pressure that erased trillions in NGX market value.
Damilola EsebameAug 13, 2026