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Business - Page 81

Heirs Energies Agrees $750m Afreximbank Financing to Drive Long-Term Growth

Heirs Energies Limited, Nigeria’s leading indigenous integrated energy company, has executed a USD 750 million financing with the African Export–Import Bank (Afreximbank). The transaction was concluded at a signing ceremony in Abuja on Saturday 20th December 2025, attended by Mr. Tony

December 21, 2025

Business·Oil & Gas

NNPCL, Dangote Strengthen Partnership To Boost Nigeria’s Oil, Gas Downstream Sector

The Nigerian National Petroleum Company Limited (NNPCL) and Dangote Petroleum Refinery & Petrochemicals have pledged to strengthen collaboration in boosting Nigeria’s oil and gas downstream sector to ensure the country’s energy security. The goal is also to put measures that ensure a

May 10, 2025

Business·Top Stories

Over N313.34 billion Wiped Off Stock Market

The Nigerian stock market declined on Friday, May 9, after the bourse’s equity capitalisation depreciated by N313.34 billion, to N68.33 trillion from N68.65 trillion on May 8. This followed a 0.10 percent decline in the all-share index (ASI), which fell from 108,849.83

May 9, 2025

Business·Top Stories

Femi Otedola Loses N27.8bn As Investments In First HoldCo, Geregu Fall

Femi Otedola, the chairman of Geregu Power and First HoldCo, has lost a total of N27.8 billion year-to-date, according to an analysis of his stock market investments by Prime Business Africa. The billionaire started the year with a net worth of N2.36

May 9, 2025

Business·Top Stories

Stanbic IBTC Posts N116.41bn Profit Before Tax

Stanbic IBTC Holdings saw a significant increase in its topline and bottom line for the first quarter (Q1) of 2025, while its customer deposits increased marginally. According to the company’s condensed consolidated interim financial statements for the period ended March 31, 2025,

May 9, 2025

Business·Top Stories

Best And Worst Performing Pharmaceutical Stocks In Nigeria

The pharmaceutical companies in the Nigerian stock market are struggling to attract investment amid a decline in investors’ confidence in the first quarter (Q1) of 2025. Out of the five pharmaceutical companies listed on the bourse, only two saw their shares soar

May 8, 2025

Business·Top Stories

Chellaram Leads Gainers’ List, As Stock Market Cap Increases By N240bn

The market capitalisation of the Nigerian bourse grew by N240.15 billion after the all-share index (ASI) appreciated by 0.35 percent on Thursday, May 8. This increased the equity capitalisation from N68.41 trillion on Wednesday, May 7, to N68.65 trillion. Also, the all-share

May 8, 2025

Business·Top Stories

Sterling Financial Holdings Fined N61m, Records 73% Increase In Net Income

Sterling Financial Holdings Company was fined N61 million in 2024, according to its condensed unaudited interim financial statements for the year ended December 31, 2024. The amount is higher than the N29 million that Sterling Financial paid as penalty in 2023. The

May 8, 2025

Business·Markets

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 8th May 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 black market, as of 8th May 2025, is N1,630

May 8, 2025

Business

Nigeria First Policy: We Need Robust Investment In Critical Infrastructure Pillars – Bongo Adi

Mixed reactions have trailed the decision of Nigerian government to implement “Nigeria First” Policy, aimed at encouraging patronage of made-in-Nigeria goods. While some hailed the policy, others said Nigeria is not yet ripe for implementing it. Prime Business Africa reports that the

May 7, 2025

Business·Top Stories

Nigeria’s Stock Market Extends Upward Trend With N307bn Gain

Trading ended with a 0.45 per cent or N307.16 billion increase in the Nigerian bourse’s capitalisation on Wednesday, May 7, after it rose from N68.10 trillion on Tuesday, May 6, to N68.41 trillion. Similarly, the all-share index (ASI) appreciated by 488.73 index

May 7, 2025

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Nigeria Launches N590bn Power Sector Bond to Clear GENCO, Gas Arrears

The Federal Government of Nigeria has issued its debut bond

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The dollar traded at N1,487.01/$1 in the parallel market on

Venezuela Condemns Trump’s Threat, Pledges to Defend Sovereignty

The government of Venezuela has condemned what it described as

Bank of Japan Poised to Lift Rates to 30-Year High as Inflation Pressures Persist

The Bank of Japan (BOJ) is set to raise its

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Business - Page 81

Heirs Energies Agrees $750m Afreximbank Financing to Drive Long-Term Growth

NNPCL, Dangote Strengthen Partnership To Boost Nigeria’s Oil, Gas Downstream Sector

Over N313.34 billion Wiped Off Stock Market

Femi Otedola Loses N27.8bn As Investments In First HoldCo, Geregu Fall

Stanbic IBTC Posts N116.41bn Profit Before Tax

Best And Worst Performing Pharmaceutical Stocks In Nigeria

Chellaram Leads Gainers’ List, As Stock Market Cap Increases By N240bn

Sterling Financial Holdings Fined N61m, Records 73% Increase In Net Income

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 8th May 2025

Nigeria First Policy: We Need Robust Investment In Critical Infrastructure Pillars – Bongo Adi

Nigeria’s Stock Market Extends Upward Trend With N307bn Gain

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