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Business - Page 18

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

Champion Brew’s Stock Outperforms Guinness, Nigerian Breweries, International Breweries In H1 2025

The brewery companies in the Nigerian Exchange Limited (NGX), also known as the stock market, closed the first half (H1) of 2025 on a high as the shares of Champion Brew, Nigerian Breweries, Guinness, and the International Breweries soared during the period.

August 22, 2025

Business·Finance & Economy

Nigeria’s External Reserves Hit Four-Year High Of $41bn

Nigeria’s external reserves have reached a significant milestone, hitting a four-year high of $41.046 billion as of August 20, 2025. This achievement marks the highest level since December 2021 and reflects a notable recovery from the reserves’ depletion in recent years. This

August 22, 2025

Business·News·Power

Reps Probe N2.6trn Debt Owed By Discos

The House of Representatives Public Accounts Committee has launched a comprehensive investigation into the N2.6 trillion debt owed by Nigeria’s electricity distribution companies (Discos) to the Federal Government. The 11 electricity distribution companies have been summoned before the House Public Accounts Committee

August 21, 2025

Business·Top Stories

BUA Cement, UPL Drag Stock Market Cap Down By N780.64bn

The market capitalisation of the Nigerian Exchange Limited (NGX), also known as the Nigerian stock market, depreciated by N780.64 billion to N88.78 trillion on Thursday, August 21. According to the data obtained by the NGX, the bourse had closed trading on Wednesday,

August 21, 2025

Business·Top Stories

Shareholders Of Infinity Trust Mortgage Bank Record Biggest Loss In 2025 After PenCom Blacklist Firm

At the end of trading on Wednesday, August 20, the shares of Infinity Trust Mortgage Bank were dumped following the National Pension Commission (PenCom) clampdown on the company for flouting housing loan rules. Prime Business Africa gathered that the share price of

August 21, 2025

Business·Top Stories

Prestige Assurance’s Failure To Curb Expenses Results In 81% Drop In Profit

Prestige Assurance said it surpassed the N11.57 billion gross premium reported for the first half (H1) of 2024, after recording N15.32 billion in the same period this year, reflecting an increase of 32 percent. According to the company’s unaudited financial statements for

August 21, 2025

Business·Markets

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 21st 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 21st August 2025, is

August 21, 2025

Business·Oil & Gas

Dangote Refinery Cuts Diesel Price To ₦960 Per Litre

Dangote Petroleum Refinery has announced a reduction in its ex-depot price of diesel to ₦960 per litre, a ₦30 price cut from ₦990 sold previously. This was confirmed by the refinery’s spokesperson, Anthony Chiejina, who said it takes effect from 20 August.

August 21, 2025

Business·Top Stories

Oil Billionaires Who Recorded Losses In H1 2025

Five major investors of oil companies listed on the Nigerian Exchange Limited (NGX), also known as the Nigerian stock market, recorded a decline in their investments within the first half (H1) of 2025, according to Prime Business Africa’s analysis. PBA gathered that

August 20, 2025

Business·Top Stories

Conoil, Ellah Lakes Among Losers As Stock Market Cap Drops By N662.50bn

Over N662.50 billion was lost in the Nigerian stock market on Wednesday, August 20, after the market capitalisation of the bourse dropped to N89.56 trillion, from the previous day’s N90.22 trillion. The decline followed a 1,047.17 basis points loss by the all-share

August 20, 2025

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Business - Page 18

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

Champion Brew’s Stock Outperforms Guinness, Nigerian Breweries, International Breweries In H1 2025

Nigeria’s External Reserves Hit Four-Year High Of $41bn

Reps Probe N2.6trn Debt Owed By Discos

BUA Cement, UPL Drag Stock Market Cap Down By N780.64bn

Shareholders Of Infinity Trust Mortgage Bank Record Biggest Loss In 2025 After PenCom Blacklist Firm

Prestige Assurance’s Failure To Curb Expenses Results In 81% Drop In Profit

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 21st August 2025

Dangote Refinery Cuts Diesel Price To ₦960 Per Litre

Oil Billionaires Who Recorded Losses In H1 2025

Conoil, Ellah Lakes Among Losers As Stock Market Cap Drops By N662.50bn

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