Tag: Nigeria

Nigerian billionaire Tony Elumelu, with United Capital CEO Peter Ashade and other executives of the company
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United Capital buys $13.3 million stake in Nigerian Exchange Group amid Africa expansion push

United Capital acquires a 5 percent stake in Nigerian Exchange Group worth $13.3 million, reinforcing its Africa expansion strategy and capital market footprint.

Omokolade Ajayi Omokolade Ajayi
Aliko Dangote, Africa’s richest man and founder of Dangote Group.
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Aliko Dangote secures AFC backing for $7 billion fertilizer expansion in Nigeria, Ethiopia

Dangote Industries partners with AFC for a $7 billion fertilizer expansion to scale output across Nigeria and Ethiopia.

Omokolade Ajayi Omokolade Ajayi
Lagos-based lender Wema Bank Plc.
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Wema Bank’s Q1 2026 profit rises to $46.4 million on stronger lending income

Wema Bank's profit after tax rose to $46.4 million in Q1 2026, driven by a surge in net interest income and continued retail and corporate loan growth across Nigeria.

Omokolade Ajayi Omokolade Ajayi
Nigerian agribusiness entrepreneur Rotimi Opeyemi.
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Nigerian agribusiness entrepreneur Rotimi Opeyemi leads JR Farms Group to $60 million Liberia coffee deal

Nigerian agribusiness entrepreneur Rotimi Opeyemi’s JR Farms Group signs a $60 million Liberia coffee deal to expand production, exports, and rural jobs.

Omokolade Ajayi Omokolade Ajayi
Standard Bank, Africa's biggest lender by assets.
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Standard Bank eyes lead advisory role in Dangote refinery IPO, expansion plans

Standard Bank plans a lead advisory role in the Dangote refinery initial public offering while signaling support for future expansion across Africa.

Omokolade Ajayi Omokolade Ajayi
NERC headquarters building in Abuja’s Central Business District, Nigeria’s capital administrative district.
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Nigeria’s power sector bleeds $230 million over unpaid energy bills in Q1 2026

Nigeria’s power distributors lost $230 million in Q1 2026 as unbilled electricity, unpaid customer debts, and power theft deepened sector losses.

Omokolade Ajayi Omokolade Ajayi
Nigerian mogul Samuel Bolarinde.
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Nigerian mogul Samuel Bolarinde’s Vitafoam stake nears $25 million

Samuel Bolarinde's Vitafoam stake nears $25 million as a major NGX rally drives the foam maker's market cap to $232 million.

Omokolade Ajayi Omokolade Ajayi
MTN Group logo, representing the pan-African telecom operator.
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MTN targets Nigeria’s $236 billion credit gap with direct lending push

MTN Group plans to launch direct lending in Nigeria to target a $236 billion funding gap and disrupt African banking.

Omokolade Ajayi Omokolade Ajayi
Aliko Dangote, Africa’s richest man and founder of Dangote Group.
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Aliko Dangote’s plant boosts Nigeria’s fertilizer exports past $1 billion in Q1 2026

Nigeria's fertilizer exports topped $1 billion in Q1 2026, driven by Aliko Dangote's plant as urea outpaced major petroleum products.

Omokolade Ajayi Omokolade Ajayi
Nigerian banker Segun Agbaje, CEO of GTCO.
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Nigerian banker Segun Agbaje’s GTCO and PepsiCo holdings climb to $6.1 million

Segun Agbaje’s holdings in GTCO and PepsiCo climb above $6.1 million, driven by gains in banking and global consumer stocks.

Omokolade Ajayi Omokolade Ajayi
Jim Ovia, founder of Zenith Bank.
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Nigerian banker Jim Ovia says real estate beats banking, doubles down on luxury Lagos towers

Jim Ovia pivots from banking to luxury Lagos real estate, investing in high-end towers priced up to $2.8 million for wealthy buyers and diaspora investors.

Omokolade Ajayi Omokolade Ajayi
Nigerian billionaire Tony Elumelu, with United Capital CEO Peter Ashade and other executives of the company
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Nigeria’s United Capital enters East Africa, clinches operating licenses in Ethiopia, Rwanda

United Capital enters Ethiopia and Rwanda, becoming the first foreign investment bank permitted to handle investment banking services in Ethiopia.

Omokolade Ajayi Omokolade Ajayi