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Business - Page 17

Aliko Dangote Makes History as First African to Hit $30 Billion Net Worth

Africa’s richest man, Aliko Dangote, has reached a historic milestone, becoming the first African to attain a net worth of $30.5 billion, according to the latest update from the Bloomberg Billionaires Index. As of October 25, 2025, Bloomberg ranks Dangote 73rd globally,

October 25, 2025

Business·Top Stories

NGX Market Cap Surge N284bn To N89.49trn

The Nigerian Exchange Limited (NGX) saw a N284.46 billion increase in the market capitalisation, which surged to N89.49 trillion on Monday, August 25, from N89.20 trillion on Friday, August 22. NGX data also showed the all-share index (ASI) of the NGX, also

August 25, 2025

NIgerian Customs Comptroller General Adewale Adeniyi

Business

Concerns As New Customs Licensing Fee Jumps 20-fold

The recent proposal by the Nigeria Customs Service (NCS) for a significant increase in licensing fees for customs agents, freight forwarders, and related stakeholders has sparked concerns within the import-export sector, especially regarding the impact on the economy. The proposed adjustment represents

August 25, 2025

Business·Top Stories

Dangote Sugar’s Revenue Rises To N430bn, Pretax Loss Drops To N22bn In H1 2025

Within the first six months of 2025, Dangote Sugar grossed N430.21 billion in revenue, up by 45.52 percent, as it outstripped the N295.62 billion turnover achieved in the first half (H1) of 2024. The company announced the revenue increase in its consolidated

August 25, 2025

Business·Top Stories

Otedola, First HoldCo Shareholders’ Investments On Decline Since Otudeko’s Exit

Since Oba Otudeko, the former chairman of First HoldCo and second-largest investor, exited the company unceremoniously, the financial institution’s share value has depreciated by N2.9 kobo, erasing N121.44 billion from shareholders’ investment value. Reports had circulated on July 17 that Otudeko had

August 25, 2025

Business·Markets

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 25th August 2025

What is the dollar-to-naira exchange rate on the black market, like the Aboki Fx? The exchange rate for the US dollar (USD) to Nigerian naira (NGN) in the parallel market, also known as the black market, as of 25th August 2025, is

August 25, 2025

Business

NNPCL’s Revenue, PAT Drop In July

The Nigerian National Petroleum Company Limited (NNPCL) experienced a significant financial downturn in July 2025, with both revenue and profit after tax (PAT) declining sharply compared to the previous month. The national oil company’s revenue dropped to N4.406 trillion, while profit

August 24, 2025

Business

FAAC Disburses N2.001trn July Revenue To FG, States, LGAs

The Federation Account Allocation Committee (FAAC) has disbursed a total sum of N2.001 trillion to the three tiers of government (federal, states and local councils) as Federal allocation for the month of July 2025 from a gross total of N3.836 trillion. This

August 23, 2025

Business·Currency·Markets

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 23rd August 2025

August 23, 2025

Business·Top Stories

Morison Reduces Pretax Loss To N3.89m As Revenue Rises 95%

Morison Industries saw a 95.87 percent growth in its revenue in the first half (H1) of 2025, as turnover increased to N225.73 million, surpassing the N115.24 million grossed between January and June 2024. In the company’s unaudited financial reports for the first

August 22, 2025

Business·Top Stories

NGX Rebounds With N424.96bn Gain, FTN Cocoa, Beta Glass Lead Recovery

On Friday, August 22, the stock market gained N424.96 billion after the market capitalisation of the Nigerian Exchange Limited (NGX) grew to N89.20 trillion, from the N88.78 trillion posted on Thursday, August 21. This followed a 671.7 basis points gain recorded by

August 22, 2025

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Business - Page 17

Aliko Dangote Makes History as First African to Hit $30 Billion Net Worth

NGX Market Cap Surge N284bn To N89.49trn

Concerns As New Customs Licensing Fee Jumps 20-fold

Dangote Sugar’s Revenue Rises To N430bn, Pretax Loss Drops To N22bn In H1 2025

Otedola, First HoldCo Shareholders’ Investments On Decline Since Otudeko’s Exit

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 25th August 2025

NNPCL’s Revenue, PAT Drop In July

FAAC Disburses N2.001trn July Revenue To FG, States, LGAs

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 23rd August 2025

Morison Reduces Pretax Loss To N3.89m As Revenue Rises 95%

NGX Rebounds With N424.96bn Gain, FTN Cocoa, Beta Glass Lead Recovery

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