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Oil Refinery Project Drags Aliko Dangote Into N300 billion Debt

Aliko Dangote has approached the debt market in Nigeria to borrow N300 billion, as he seeks funds to finance his oil refinery project that has fallen behind schedule. Dangote, through his company, Dangote Industries Limited (DIL), listed N300 billion series 1 and

March 31, 2023

Five Important Policies To Expect From Tinubu After Fuel Subsidy Removal

Business·Insights·Markets

Equity, Bond Investors To Struggle With Impact Of New Gov’t Policies – Analysts

The capital market in Nigeria began 2023 strongly, however, that won’t be the case towards the end of the year, Prime Business Africa (PBA) has gathered during a conversation with investment analysts. Nigerian stock market had begun the year bullish, posting about

March 13, 2023

Wema Bank In Search Of N25 billion, Target Private Investors

Business

Wema Bank In Search Of N25 billion, Targets Private Investors

Wema Bank has announced plans to borrow N25 billion through bond issuance, a corporate document dated 2 March 2023 has revealed. The financial institution said part of the fund will be disbursed as credit to Nigeria’s Small and Medium Enterprise (SME) businesses

March 3, 2023

Failure To Scrap Fuel Subsidy, Cash Shortage Major Fiscal Risk To Nigeria’s Economy - FocusEconomics

Business

Buhari Says Govt Will Pay N1.8 trillion Interest On N23.7trn CBN Loan

President Muhammadu Buhari disclosed that the Central Bank of Nigeria (CBN) will have to be paid N1.8 trillion if the National Assembly doesn’t restructure the N23.7 trillion loan obtained from the apex bank. Buhari said the government is currently paying three per cent

January 4, 2023

FG Struggling To Borrow, As Foreign Investors Prefer US, Germany, Others

Business

Nigerian Govt Struggles To Borrow, As Foreign Investors Prefer US, Germany, Others

Nigeria is losing investors to G-7 securities – United States, Germany, France, Japan – as creditors avoid underdeveloped and developing countries to protect their investment. According to Director-General of the Debt Management Office (DMO), Patience Oniha, Nigeria is unable to attract investors to

November 17, 2022

Financial Obligations Force MTN Nigeria To Borrow N125bn From Commercial Paper Investors

Business

MTN Nigeria Debt Set To Rise, As SEC Approves New N100 billion Loan

The Securities and Exchange Commission (SEC) has approved request by MTN Nigeria to register a new N200 billion Bond Issuance Programme, as the telecommunications firm seek new capital. The GSM company, in a statement released on Thursday, said it had registered the

September 16, 2022

Dangote Sugar Refinery, NASCON Allied, Dangote Rice To Merge

Business

Aliko Dangote Borrows N187.6 billion Over Refinery Completion Struggles

The founder of Dangote Industries Limited (DIL), Aliko Dangote, has borrowed N187.6 billion from the debt market to fund the firm’s refinery project, as completion continues to drag. Dangote refinery has been struggling to kick off, with the company postponing commencement of

July 21, 2022

Finance & Economy

FIRS Resumes Taxation On Bonds, Short-term Govt Securities

THE Federal Inland Revenue Service (FIRS) has commenced collection of income tax on bonds, short-term government securities.

February 2, 2022

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Oil Refinery Project Drags Aliko Dangote Into N300 billion Debt

Equity, Bond Investors To Struggle With Impact Of New Gov’t Policies – Analysts

Wema Bank In Search Of N25 billion, Targets Private Investors

Buhari Says Govt Will Pay N1.8 trillion Interest On N23.7trn CBN Loan

Nigerian Govt Struggles To Borrow, As Foreign Investors Prefer US, Germany, Others

MTN Nigeria Debt Set To Rise, As SEC Approves New N100 billion Loan

Aliko Dangote Borrows N187.6 billion Over Refinery Completion Struggles

FIRS Resumes Taxation On Bonds, Short-term Govt Securities

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