The African Export-Import Bank has underwritten $2.5 billion in a $4 billion syndicated loan for the Dangote Petroleum Refinery and Petrochemicals, reinforcing its financial position and supporting long-term expansion plans. The five-year facility, arranged alongside Access Bank as co-mandated lead arranger, is aimed at consolidating existing debt and optimising the refinery’s capital structure. The financing…
The Central Bank of Nigeria (CBN) has disclosed that 32 deposit money banks have met the new minimum capital requirements ahead of the March 31, 2026 deadline. Governor of the apex bank, Olayemi Cardoso, made the disclosure on Thursday at the 2026 Monetary Policy Forum in Abuja, where he also declared that the most difficult phase…
The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has wooed investors to invest in Nigeria, saying government policies have secured the right environment for them to thrive. Lokpobiri, who spoke at the CERAWeek by S&P Global in Houston, Texas, the United States of America, said Nigeria’s crude oil is one of the best…
The Dangote Petroleum Refinery has announced a fresh hike in the price of Premium Motor Spirit (petrol), citing escalating global geopolitical tensions. In a notice sent to marketers on Friday night and obtained by our correspondent, the refinery disclosed that its ex-depot (gantry) price had been raised from N1,175 per litre to N1,245 per litre,…
As petrol prices jumped to about N1,300 per litre in various parts of Nigeria on Monday, businesses across the country are beginning to prepare for a sharp rise in their operational costs. This was confirmed by economists and the Organised Private Sector, who warned that the hike could fuel inflationary pressures, affecting goods and services,…
Collaborative business investments, where multiple entities come together to invest in a common venture, can offer various benefits. Here’s a guide on how businesses can collaborate to make investments
