ABUJA, July 25, 2025 – The much-anticipated $2.8 billion Ajaokuta-Kaduna-Kano (AKK) gas pipeline is finally set for mechanical completion in November 2025, following three deferments and years of intensive construction work. The 614-kilometre gas transportation infrastructure, one of the most ambitious energy projects in Nigeria’s history, has reached over 86 percent completion, according to project
ABUJA, July 24, 2025 – Vice President Kashim Shettima has reiterated that President Bola Ahmed Tinubu’s far-reaching economic policies are being implemented with the interest of Nigerians at heart, describing the ongoing reforms as necessary steps toward building a robust and business-friendly environment. Speaking at the Presidential Villa on Wednesday during a courtesy visit by
Dr. Stanley Jacob, President of the Fintech Association of Nigeria (FintechNGR), has affirmed that local fintech companies continue to perform strongly even as global venture capital slows. Speaking on Arise TV, he urged fintechs to pivot from offering free services to focusing on profitability—a move he believes essential for long-term survival amid a tightening funding environment
ABUJA, July 24, 2025 – The Competition Commission of South Africa has officially approved French media giant Canal+’s proposed acquisition of MultiChoice Group, the parent company of DStv and GOtv, paving the way for one of the biggest media mergers in Africa. The greenlight follows months of review and regulatory scrutiny, during which Canal+ increased
LAGOS, July 24, 2025 Dangote Sugar Refinery Plc has posted a net profit of ₦523.8 million for the second quarter of 2025, marking a notable turnaround from the losses recorded in the previous quarters and signalling renewed momentum in the company’s financial performance. The Q2 result, released on the Nigerian Exchange (NGX), reflects the company’s
ABUJA, July 24, 2025 – The World Bank has reaffirmed its support for Nigeria’s ambitious plan to deploy a 90,000-kilometre national fibre-optic broadband infrastructure, aimed at boosting digital connectivity and economic transformation across the country. The endorsement came from Anshula Kant, the Managing Director and Chief Financial Officer of the World Bank Group, during a
LAGOS, July 24, 2025 – Lagos State Governor, Babajide Sanwo-Olu, has launched a landmark ₦500 billion Offtake Guarantee Fund under the ‘Produce for Lagos’ initiative, aimed at boosting food security, supporting local agriculture, and strengthening the state’s supply chain. Speaking at the launch event in Lagos, Governor Sanwo-Olu described the fund as a strategic intervention
LAGOS, July 24, 2025 – Fitch Ratings has noted that Emerging Nations Group (ENG) recently completed a successful tender offer to repurchase $150 million out of its $300 million Eurobond, marking a strategic move to reduce external debt exposure and improve its credit profile. According to the agency, the buyback was executed at a slight
The Nigerian equities market extended its bullish run on Tuesday, with the All-Share Index (ASI) of the Nigerian Exchange Limited (NGX) soaring past the 132,000 psychological threshold, as investors continued to show renewed confidence in fundamentally strong stocks. Dangote Sugar Refinery Plc led the list of gainers, while Access Holdings Plc (ACCESSCORP) emerged as the
News Report – July 23, 2025 Africa is losing approximately $90 billion annually due to the continuous importation of substandard petroleum products, according to Aliko Dangote, President and Chief Executive Officer of Dangote Industries Limited. Dangote made this revelation while addressing stakeholders at a recent industry forum, where he emphasized the economic and environmental costs
