Business
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NGX Market Cap Falls N137bn as Sell-offs Weigh on Investor Sentiment
By Opeyemi Adelakun The Nigerian equities market opened the week on a bearish note as renewed sell-offs and weak investor sentiment wiped N137bn off market capitalisation. The NGX All-Share Index declined by…
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Indigenous Firm, MOBILUXE Secures Deals For Delivery of NAIRAXI VIP Fleets in Nigeria
An Indigenous luxury mobility firm, MOBILUXE, says it has secured a deal from NAIRAXI Transport and Logistics Limited to procure and deliver a fleet of executive Mercedes-Benz Sprinter vehicles for the transport…
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Naira Gains As FX Supply Improves, Reserves Rise To $52.66bn
By Opeyemi Adelakun The naira strengthened against the United States dollar last week, supported by improved foreign exchange supply and increased liquidity in the market. The local currency closed at N1,346.49 per…
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Dangote Refinery raises diesel price to N1,670 as crude hits $94
By Opeyemi Adelakun Dangote Refinery has reportedly increased the price of Automotive Gas Oil, popularly known as diesel, amid a fresh rise in international crude oil prices. A market survey on Thursday…
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Naira Holds Firm As Dollar Trades At ₦1,364 Officially
By Opeyemi Adelakun The Nigerian naira continued to trade within a relatively narrow range against the United States dollar on Wednesday, August 12, 2026, with the official foreign exchange market maintaining levels…
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Naira Holds Steady as Dollar Trades at ₦1,368 Officially, ₦1,405 on Parallel Market
By Opeyemi Adelakun The naira maintained relative stability against the United States dollar on Friday, trading at about ₦1,368.22/$ in the official foreign exchange market, while the parallel market rate hovered around…
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JUST IN: CBN Holds Benchmark Interest Rate at 26.5%
The Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR), the country’s benchmark interest rate, at 26.5 per cent, maintaining its current monetary policy stance. The decision was announced…
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Nigerian Stock Market Loses N5.64tn as NGX Sheds ₦151.33tn
By Opeyemi Adelakun Investors on the Nigerian Exchange (NGX) recorded a sharp loss of ₦5.64 trillion in market value within one week as profit-taking, portfolio rebalancing, and weakening sentiment triggered a broad-based…
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Binani Air Becomes Nigeria’s First Fully Female-Owned Airline Launched by Senator Binani
By Paul Joseph Nigeria’s aviation industry has achieved a historic milestone with the emergence of Binani Air, hailed as the country’s first fully female-owned and female-led airline. Reports indicate that the airline…
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Airbus to Establish Maintenance Hangar in Nigeria
By Paul Joseph President Bola Ahmed Tinubu has welcomed a proposal by global aircraft manufacturer Airbus to establish aircraft maintenance and hangar facilities in Nigeria, describing the initiative as a significant boost…
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Dangote Rejects NNPC Move to Increase Refinery Stake
By George Omagbemi Sylvester President of the Dangote Group, Aliko Dangote, has revealed that his company rejected attempts by the Nigerian National Petroleum Company Limited (NNPCL) to increase its ownership stake in…
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BUA Founder Nears Dangote, Becomes Africa’s Second-Richest Man After $8.8bn Wealth Surge
By Paul Joseph Nigerian billionaire and Chairman of BUA Group, Abdulsamad Rabiu, has climbed to become Africa’s second-richest individual after adding an estimated $8.88 billion to his fortune in 2026. The latest…