Dangote Buys 4,000 Machines for Lekki Refinery Expansion
Dangote Industries acquires 4,000 new machines to expand Lekki refinery to 1.4 million barrels per day, rejecting foreign contractors after $2.5 billion fee quotes.
Category : Business
Fintechs Waive Fees as Dangote Refinery IPO Draws Rush
PiggyVest, Bamboo, and Cowrywise are waiving transaction fees as Nigerians rush to buy Dangote Refinery shares in a ₦2.15 trillion IPO targeting 10 million retail investors.
South Korea Exempts 22 Countries From K-ETA in 2026
South Korea temporarily exempts citizens of 22 countries from K-ETA requirement from Jan 1 to Dec 31, 2026, covering Asia, Europe, North America, and Oceania.
France Publishes Passeport Talent Business Owner Conditions
France has published conditions for foreigners to own businesses under the Passeport Talent scheme, requiring a €30,000 investment and a master's degree or five years' experience.
Nigerian worker needs N372,300 monthly, five times minimum wage
A Nigerian urban worker needs N372,300 monthly for basic costs, five times the N70,000 minimum wage, per The Guardian analysis.
Fuel Cargoes Enter Lagos, Warri, Port Harcourt as Marketers Boost Supply
About 219,000 metric tonnes of petrol, diesel, aviation fuel and butane are moving through Lagos, Warri and Port Harcourt as marketers boost supply, with Dangote Refinery loading several cargoes.
Lagos Rent Crisis: Ikoyi 2-Bedroom Flats Hit N17.25m a Year
Annual rents for two-bedroom flats in Lagos' upscale areas now exceed N17 million, pushing residents to outskirts like Mowe and Ikorodu, where cheaper housing comes with long commutes and hidden costs.
Dangote, BUA Cement Prices in Lagos, Abuja, Kano, Ibadan
Dangote and BUA 50kg cement bags cost above ₦11,000 in Lagos, Abuja, Kano, and Ibadan, with some markets hitting ₦15,000, as FCCPC investigates pricing.
Nigerian Oil Refineries 2026: Full Operational Status List
Nigeria has over 10 refineries, from Dangote's 650,000bpd to modular plants. See the full 2026 status of each facility.
Dangote Refinery H1 2026 Revenue Beats Seven Listed Oil Firms
Dangote Refinery's H1 2026 revenue hit N19.13tn, exceeding the combined N7.93tn of seven listed energy firms, with profits surging.
King Oyo dead at 34: Succession dispute erupts in Uganda
King Oyo of Tooro, the world's youngest reigning monarch at age three, has died at 34. His death has triggered a succession dispute in Uganda's royal family.
Naira Gains as Pound Drops Below ₦1,800, New FX Rates Emerge
Naira strengthens as British pound falls below ₦1,800, trading around ₦1,786, amid improved FX liquidity and sterling's weakness on international markets.
Gambia Orders Banks to Replace Foreign Staff by Dec 2026
Central Bank of The Gambia gives commercial banks, including Nigerian lenders, until December 31, 2026, to replace non-Gambian staff with qualified locals or face fines.
Naira Weakens as FX Turnover Drops 30% to $2.37B
Nigeria's FX turnover fell 30.23% to $2.37 billion last week, with the naira closing at N1,331.20 per dollar, down 0.35% week-on-week.
UBA Offers N30m Personal Loans for Dangote Refinery IPO
UBA offers customers up to N30 million personal loans to invest in the Dangote Refinery IPO priced at N525 per share, with minimum 10 shares per transaction.
HBM Battles Dangote, BUA for Nigeria Cement Market
Chinese-owned HBM recruits distributors with ₦250m capital, challenges Dangote and BUA amid cement prices hitting ₦15,000 per 50kg bag.
Angola Launches New eVisa Portal With Online Payment and Tracking
Angola has moved its eVisa applications to a new official platform, evisa.ao, replacing the old portal. Applicants must create an account, pay fees online, and await a 72-hour processing window.
NGX All-Share Index Up 2.78%, 52 Equities Gain
The NGX All-Share Index rose 2.78% to close at 249,804.56 points, with market cap hitting N162.157 trillion, as 52 equities gained.
Germany's 5 Visa Requirements for Foreign Professional Workers
Germany outlines 5 visa conditions for foreign professional workers: qualification evaluation, 2 years' experience, job offer, salary threshold (€45,630), and employment approval.
Private Sector Credit Drops N10.3trn in 7 Months, CBN Data Shows
CBN data shows private-sector credit fell from N93.74trn in January 2026 to N83.43trn in July 2026, a decline of about 11%, despite banks raising N4.65trn in recapitalisation.
TASUED Student’s Toast Business Goes Viral
A TASUED final-year student’s roadside toast and sandwich stand, filmed on TikTok, has gone viral, sparking conversations on youth unemployment and student entrepreneurship in Nigeria.
Tanzania mandates $44 travel insurance for foreign visitors
Mainland Tanzania will require foreign visitors to hold a $44 inbound travel insurance policy from 2026, covering medical care, evacuation, repatriation, and baggage loss for up to 92 days.
Arewa Youths Hail NNPCL Boss Ojulari Over Smart Station
The Arewa Youth Council praised NNPCL CEO Engr. Bashir Bayo Ojulari after Nigeria's first Smart Self-Service Filling Station opened in Abuja, with plans to roll out 50-70 more stations nationwide.
Petrol Prices Drop in Three Cities as Dangote Supply Boosts Competition
Petrol depot rates fell to N1,330 per litre in Calabar, Warri, and Port Harcourt, while Lagos remained firm at N1,350 amid improved Dangote Refinery supply and volatile crude prices.
Contractor Advises Friend Against Buying Car, Builds House Instead
A Nigerian contractor built a two-bedroom house with N11m car money, sparking debate on whether it was a wise choice.
Femi Otedola's Fortune Hits $2 Billion, Narrows Gap with Africa's Richest
Femi Otedola's net worth reaches $2 billion, driven by FirstHoldCo's 8.1% share surge, making it Nigeria's first listed bank to cross N7 trillion market cap.
Dangote Named Grand Patron of Global Entrepreneurship Festival
Aliko Dangote, President of Dangote Group, has been named Grand Patron of the Global Entrepreneurship Festival (GEF), with the 2026 edition set for Egypt in November.
Ikeja Electric Begins MAP Meter Refunds via Electricity Units
Ikeja Electric Plc begins refunding MAP meter payments through electricity units, with an online tracking dashboard for customers and renewed safety warnings against illegal electrical work.
Dangote Refinery Plans Dollar Dividends for Shareholders Post-IPO
Dangote Refinery will pay dividends in dollars, backed by export earnings, as it targets 10 million shareholders in its N525 IPO.
FCMB, Zenith, Access Lead as Nigeria's Highest-Paid Bank CEOs in 2025
FCMB's top director earned N447.9 million in 2025, the highest among Nigerian banks. Zenith's pay surged 110.9%, while Access and First HoldCo saw pay outpace profit growth.
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