The Dangote Refinery has announced a major expansion plan that will see its production capacity increase from 650,000 barrels per day (bpd) to 1.4 million bpd, positioning it as the largest refinery in the world once completed. The announcement was made by the President of the Dangote Group, Alhaji Aliko Dangote, during a press briefing in Lagos on Sunday. Dangote, accompanied by his long-time associate and Chairman of First Bank,…

The Financial Action Task Force (FATF), a global money-laundering watchdog based in France, has officially removed Nigeria, South Africa, Mozambique, and Burkina Faso from its “grey list” of countries under increased monitoring. The announcement came on Friday, following what the FATF described as “successful on-site visits” that confirmed “positive progress” by the four nations in strengthening their anti-money laundering and counter-terrorism financing frameworks. The FATF maintains both “grey” and “black”…

Guinness Nigeria Plc has announced the appointment of Ms. Abimbola Ajibola-Jimoh as its new Company Secretary, effective November 1, 2025. The appointment was disclosed through a corporate filing on the Nigerian Exchange (NGX) dated October 23, 2025, in line with regulatory disclosure requirements. The development marks another significant step in the company’s ongoing efforts to strengthen its corporate governance and leadership structure. Ms. Ajibola-Jimoh takes over from Mrs. Ademola, who…

The Minister of State for Finance, Doris Uzoka-Anite, has stressed that embracing the core principles of patriotism, education, and public service is essential for achieving economic empowerment, inclusive growth, and equal opportunities for all citizens. Uzoka-Anite made the declaration during a courtesy visit to her office by the Committee for the 6th Nnamdi Azikiwe Annual Award Memorial Lecture, led by its Chairman and former governor of Niger State, Mu’azu Aliyu.…

The Federal Government (FG) has restated its dedication to broadening financial inclusion across the country, primarily by leveraging digital identity systems and implementing pro-growth regulatory policies. The commitment was highlighted by the Minister of State for Finance, Doris Uzoka-Anite, during her address at the Semafor’s Next 3 Billion Tour event held in Abuja. The convening, organized by Semafor in partnership with the Bill and Melinda Gates Foundation, brought together various…

Governor Biodun Oyebanji of Ekiti State has reaffirmed his administration’s commitment to partnering with legitimate investors and has highlighted the institutional framework in place to guarantee a seamless, pro-business environment within the state. The governor made this declaration yesterday in Ado Ekiti while hosting a delegation from the British High Commission led by the Deputy High Commissioner, Lagos, Jonny Baxter. He stressed that the state is actively pursuing credible partnerships…

The Nigerian Exchange Limited (NGX) reached a historic milestone on Tuesday as the All-Share Index surged to 151,456.91 basis points, driven by gains in top-performing firms including SCOA Nigeria, Omatek, Consolidated Hallmark Holdings, BUA Foods, and others. The continued bullish run in the equities market led to an investor gain of ₦963 billion, pushing market capitalisation from ₦95.171 trillion to an all-time high of ₦96.134 trillion — a 0.01% increase.…

Vice President Kashim Shettima has reinforced the President Bola Tinubu administration’s commitment to fostering inclusive prosperity through enterprise-driven reforms. He made the declaration yesterday while launching the 9th Expanded National MSME Clinic in Katsina State. Shettima announced that Tinubu has approved an unconditional N250,000 grant for each outstanding Micro, Small, and Medium Enterprise (MSME) exhibiting at the clinic. READ ALSO: Shettima: Nigeria’s energy transition to unlock $410bn investments by 2060 He…

Nigeria’s federal government has unveiled a new campaign to promote locally made goods and services under its ‘Nigeria First’ policy. President Bola Tinubu said the initiative will revitalise the country’s manufacturing sector and reduce its long-standing dependence on imports. Announcing the initiative at the Adeola Odutola Lecture organised by the Manufacturers Association of Nigeria (MAN), President Tinubu, represented by John Enoh, Minister of State for Industry, Trade and Investment, said the…

The International Monetary Fund has upgraded Nigeria’s economic growth forecast to 3.9 per cent, signalling renewed optimism for Africa’s largest economy following a turbulent period of reform and inflation. The latest projection, released during the IMF–World Bank Annual Meetings in Washington, D.C., marks an improvement on the Fund’s earlier forecast of 3.0 per cent. It follows a series of upward revisions over the past year, including an October 2024 estimate…

Nigeria’s population is projected to surge to 367.5 million by the year 2050, an increase of nearly 130 million people, according to World Bank President Ajay Banga. Also, 1.2 Billion youth to compete for 400 million Jobs in the next 15 Years. The World Bank chief issued the forecast during the 2025 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group, warning that without urgent structural…

Governor Biodun Oyebanji of Ekiti State has expressed satisfaction with the economic turnaround and progress achieved in the state since he took office on October 16, 2022. He said this while delivering his annual state of the state address during a special plenary session at the state House of Assembly in Ado-Ekiti to mark his administration’s third anniversary. Oyebanji stated that the state has experienced rapid economic growth and a…