The total value of shares listed on the Nigerian Exchange rose by ₦2.64 trillion on Monday to reach a fresh record of ₦163.16 trillion, driven by renewed buying interest that lifted the All-Share Index 1.65 percent to 251,290.54 points. The increase marked one of the stronger single-day advances in market capitalisation this year and pushed … Read more
The Nigerian Exchange All-Share Index closed Monday’s session at a record 251,290.54 points after advancing 1.65 percent, adding approximately ₦2.64 trillion to market capitalisation and pushing the total value of listed equities to ₦163.16 trillion. The rally was led by Dangote Cement, which rose the maximum daily limit of 10 percent to settle at ₦1,222.10, … Read more
Naira Exchange Rate Today: Dollar Holds Near N1,333 as Fresh CBN NFEM Data Shapes the Outlook for Banks and Customers The naira closed at N1,332.99 to the dollar at the Nigerian Foreign Exchange Market (NFEM) on Monday, October 12, according to Central Bank of Nigeria data published on Tuesday. That is 50 kobo weaker than … Read more
Nigeria’s technology sector is having a moment. New data published this month confirms that Nigeria’s startup ecosystem has expanded to 1,475 tracked startups, growing by 31.8 percent in 2025, reaching a global ranking of 62nd, and accumulating more than $2.17 billion in total startup funding. Lagos remains the dominant hub, but secondary cities including Abuja, … Read more
President Tinubu directive to the FCCPC is set to end Optasia’s monopoly and open a massive digital lending market to Nigerian-owned companies for the first time. DATE: June 7, 2026 In a move that could reshape Nigeria’s digital economy, President Bola Tinubu has ordered the Federal Competition and Consumer Protection Commission to dismantle the 12-year … Read more
Alibaba Reports 18 Percent Drop in Annual Profit Amid AI Spending and Economic Challenges Chinese technology giant Alibaba Group has reported a sharp decline in annual profit as the company continues to deal with a slowing domestic economy and heavy investments in artificial intelligence. The Hangzhou-based company announced that its net profit for the fiscal … Read more
Nigeria’s technology and energy sectors converged in a single dramatic week of business headlines, producing a debate that cuts to the core of the country’s economic future. Moniepoint CEO Tosin Eniolorunda went viral after revealing at The Platform Nigeria conference in Lagos that his company cannot fill approximately 500 job vacancies, citing a catastrophic shortage … Read more
Nigeria is generating remarkable digital economy numbers in 2026, but beneath the headline statistics lies a paradox that could define the country’s tech future. Nigerians consumed more than four billion gigabytes of internet data in the first three months of 2026, marking a new quarterly record that highlights the country’s rapid shift toward a … Read more
Nigeria runs on generators. It is a national embarrassment that the country with the largest economy in Africa cannot reliably keep the lights on for its 220 million citizens. That reality may be about to face its most formidable private-sector challenger yet. Aliko Dangote, owner of Africa’s largest refinery, has announced plans to invest … Read more
Tragedy Strikes as Kano Records 21 Road Crash Deaths Kano State has been thrown into mourning following a fatal road crash that claimed 21 lives on Monday morning. The accident occurred near Gaya Junction, along the busy Kano–Zaria highway. According to eyewitnesses, a commercial bus collided with a fuel tanker, causing a fiery explosion. Several … Read more