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Nigeria firms get $83m IFC-Norfund funding for off-grid power development
500,000 households to be connected, 2.9m people to be served Ziggy Ojiegbe A new financing push led by the International Finance Corporation and Norway’s Norfund is set to expand electricity access to millions of Nigerians living beyond the reach of…
Seplat sweeps awards as stock shares hit N10,000 benchmark
Bode Adeeyo Shares of Seplat Energy Plc climbed above the ₦10,000 mark for the first time, as the indigenous oil and gas producer capped a strong run with multiple industry and market awards that signal rising investor confidence in its…
NLNG, Rivers Police deepen security collaboration ahead of Bonny–Bodo Road opening
The Managing Director and Chief Executive Officer of Nigeria LNG Limited, Adeleye Falade, has called for deeper security collaboration with the Nigerian Police Force, particularly the Rivers State Command, as operations expand and critical infrastructure projects near completion in the…
UK business delegation in Nigeria turns $8.1bn trade ties into deals
The UK has stepped up efforts to convert diplomatic momentum into real business outcomes, sending its first trade and investment mission to Nigeria since the recent State Visit. The move signals a shift from high-level agreements to practical deal-making across…
China’s solar power export to Africa hit 19GW in 2025, toppling Nigeria’s total generating capacity
Frank Okon Chinese firms shipped a significant 19,000 megawatts of solar generating capacity to Africa in 2025, marking a 48% increase on 2024. The scale is striking when set against countries like Nigeria, where total available grid power has at…
African insurance market to hit $166bn by 2034 as digitalisation, AI drive expansion
Ziggy Ojiegbe Africa’s insurance market is projected to grow from $98.5 billion in 2025 to $166.1 billion by 2034, reflecting an average annual growth rate of 5.79 percent, according to a new report by IMARC Group. The report, titled “Africa…
Dangote Sugar approves ₦500bn rights issue, ratifies board changes
Frank Okon Shareholders of Dangote Sugar Refinery Plc have approved a plan to raise up to ₦500 billion through a rights issue, alongside key governance and financial resolutions, at the company’s 20th Annual General Meeting (AGM) held in Lagos. The…
OPEC reports sharp drop in Middle East oil output amid Iran war
The Organization of the Petroleum Exporting Countries (OPEC) has reported a significant decline in crude oil production among its member states, citing the ongoing conflict involving Iran as a major disruptor to supply across the Middle East. In its production…
Dangote warns rising oil prices may ground Nigerian airlines
Demands subsidies for farmers Ziggy Ojiegbe, with agency reports Chairman of the Dangote Group, Aliko Dangote, has called on the Nigerian government to introduce targeted subsidies for farmers, warning that surging global oil prices could cripple both agriculture and aviation…
Oil slumps as Strait of Hormuz reopens despite U.S. blockade on Iran
Ziggy Ojiegbe Iran said it has fully reopened the Strait of Hormuz to commercial shipping, triggering a sharp drop in global energy prices and raising cautious optimism that tensions with the United States may be easing, even as Washington insists…
