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Business - Page 22

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

Over N120.91bn Wiped Off Stock Market Cap

The stock market capitalisation decreased to N92.28 trillion on Wednesday, August 13, from N92.40 trillion recorded on Tuesday, August 12. While the equity capitalisation declined by N120.91 billion, the all-share index (ASI) depreciated by 190.2 basis points, from 146,055.89 ASI to 145,864.8

August 13, 2025

Business·Oil & Gas

NUPRC Fails To Achieve 50% Of 2025 Revenue Target In H1

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) recorded 34.7 per cent of its 2025 revenue target in the first half of the year (January–June 2025), generating ₦5.21 trillion from crude oil, gas sales, and related activities. This falls short of the proportional mid-year benchmark needed to meet

August 13, 2025

Business·Oil & Gas

Nigeria Exceeds OPEC Quota For Third Time In 2025

Nigeria has indeed exceeded its OPEC oil production quota of 1.5 million barrels per day for the third time in 2025, according to recent reports. The first was in January and the second in June. OPEC’s latest Monthly Oil Market Report, released on

August 13, 2025

Business

CBN Shares Fraud Prevention Tips, Urges Use Of Alternative Payment Channels For Financial Inclusion

The Central Bank of Nigeria (CBN) has shared tips to prevent fraud in financial transactions in the Nigerian banking system. The CBN provided the tips while sensitising Nigerians about the use of alternative payment channels during the maiden edition of its financial

August 13, 2025

Business·Top Stories

Adeyemi Adeola Increases Stake In Sterling Bank’s Parent Company From 3% To 23%

Adeyemi Adeola, the chairman of Sterling Financial Holdings Company Plc, the parent company of Sterling Bank, has increased his stake in the financial institution to curb the impact of the lender’s share dilution on his shareholding. Prime Business Africa gathered that Adeola

August 13, 2025

Business·Top Stories

Sunu Assurances Posts N4.69bn Revenue, Profit Drops By 58.50%

Sunu Assurances has released its unaudited interim financial statements for the second quarter (Q2) of 2025, disclosing that revenue grew 31.77 percent to N4.69 billion during the period, exceeding the N3.55 billion turnover posted in Q2 2024. The insurer reported service expenses

August 13, 2025

Business·Currency·Markets

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 13th 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 13th August 2025, is

August 13, 2025

Business·Top Stories

Stock Market Cap Increases By N110.77bn As ASI Rises 0.12%

A 0.12 percent increase in the all-share index (ASI) of the Nigerian Exchange Limited (NGX) led to the bourse’s market capitalisation rising by N110.77 billion on Tuesday, August 12. According to data obtained from the NGX, the market capitalisation of the Nigerian

August 12, 2025

Business·Finance & Economy

Consecutive Drop In Money Supply Puts Nigeria’s Economic Growth At Risk – Expert

While the consecutive drop in Nigeria’s money supply in 2025 is believed to have a link with in decline in the inflation rate, economic experts have warned that it poses significant risks to the country’s economic growth. The Central Bank of Nigeria

August 12, 2025

Business·Top Stories

Mutual Benefits Assurance Records N41.19bn Revenue In H1 2025

Mutual Benefits Assurance has reported revenue of N41.19 billion in the first half (H1) of 2025, above the N28.49 billion generated as turnover in H1 2024, representing a 45 percent increase. Also, service expense increased by 15 percent year-on-year, according to the

August 12, 2025

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Business - Page 22

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

Over N120.91bn Wiped Off Stock Market Cap

NUPRC Fails To Achieve 50% Of 2025 Revenue Target In H1

Nigeria Exceeds OPEC Quota For Third Time In 2025

CBN Shares Fraud Prevention Tips, Urges Use Of Alternative Payment Channels For Financial Inclusion

Adeyemi Adeola Increases Stake In Sterling Bank’s Parent Company From 3% To 23%

Sunu Assurances Posts N4.69bn Revenue, Profit Drops By 58.50%

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 13th August 2025

Stock Market Cap Increases By N110.77bn As ASI Rises 0.12%

Consecutive Drop In Money Supply Puts Nigeria’s Economic Growth At Risk – Expert

Mutual Benefits Assurance Records N41.19bn Revenue In H1 2025

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