Dangote Industries Limited plans to take its fertiliser business public in 2028, as the group ramps up production and expands across Africa in a bid to become the world’s largest fertiliser company. Aliko Dangote, President and Chief Executive Officer of Dangote Industries Limited, disclosed the plan during an interview at the Qatar Economic Forum, powered by Bloomberg, where he discussed the group’s fertiliser expansion and plans to increase production capacity across the continent. Dangote said the company’s urea production would rise from 3 million tonnes to 12 million tonnes, while the group is also developing sources of other key fertiliser…
Author: Elvis Eromosele
Advanced Micro Devices (AMD) briefly crossed the $1 trillion market capitalisation threshold for the first time on Monday, as investors continued to bet on the chipmaker’s growing role in the artificial intelligence (AI) infrastructure market. AMD shares rose about 9 per cent to $610, after touching an all-time high of $613.92, pushing the company’s valuation above the trillion-dollar mark. The milestone reflects the strength of AMD’s recent rally as the company expands its AI portfolio and competes more directly with industry leader Nvidia in the fast-growing market for AI computing infrastructure. AMD has been broadening its offering beyond individual processors…
Africa Gas Transport Company Limited (AfricaGTC), backed by Dutch clean-energy company, Energy Ventures B.V., is set to harness flared gas in Nigeria, which has long posed environmental and economic challenges, into a useful resource. AfricaGTC is the Nigerian subsidiary of Energy Ventures, established to develop the FlareOut® project in Nigeria and drive local partnerships for its implementation. It is set to roll out a pilot project of the FlareOut solution to capture, process and utilise otherwise wasted associated gas at its Agbada-2 site near Port Harcourt. With a focus on harnessing abundant and often wasted energy sources, Energy Ventures is…
Abubakar Sadiq Omar, Managing Director of Steron Energy, has called for a new approach to developing Nigeria’s critical minerals sector, urging the country to move beyond exporting raw materials and focus on local value addition, technology transfer and greater youth participation. Omar made the call during a fireside chat at the 2026 African Natural Resources and Investment Summit (AFNIS), where he presented Steron Energy’s proposed Resource for Technology (R4T) Alliance. The initiative seeks to create a direct exchange between Nigeria’s critical mineral resources and finished technology products from global manufacturers, offering an alternative model for converting mineral wealth into development…
The Pan-African Payment and Settlement System (PAPSS) is targeting faster adoption and higher transaction volumes across Africa as it moves into a new phase of expansion following a sharp increase in usage across its network. Mike Ogbalu III, Chief Executive Officer of PAPSS, disclosed this at a media briefing in Lagos, saying the payment platform now operates in more than 30 African countries spanning the continent’s five regions. The network connects 24 national and regional central banks, more than 200 commercial banks and payment service providers, and 16 switches. Through strategic partnerships, PAPSS also has a termination footprint covering more…
The Nigerian Economic Summit Group (NESG) has called for a national framework for public-private partnerships (PPPs) in primary healthcare to attract more private investment and expand access to quality healthcare services across Nigeria. The group also proposed a dedicated primary healthcare investment and risk-sharing facility to give investors greater clarity on the risks associated with financing and operating healthcare facilities, particularly in underserved communities. The proposals emerged from a pre-summit dialogue organised by the NESG in collaboration with the Federal Ministry of Budget and Economic Planning ahead of the Nigerian Economic Summit. The virtual dialogue, held on September 17, 2026,…
Insurance penetration in Nigeria remains below one per cent of Gross Domestic Product (GDP), highlighting the limited reach of insurance despite the country’s population of more than 220 million. Kunle Ahmed, Chief Executive Officer of AXA Mansard Insurance, disclosed this at the launch of the company’s “Culture of Care” campaign, where he called for a shift in how Nigerians perceive insurance. Ahmed said the industry’s challenge goes beyond simply creating awareness, arguing that more Nigerians need to understand insurance as a practical tool for protecting families, businesses and communities. “Protection does not begin with an insurance policy. Protection begins with…
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it does not have the power to fix petrol pump prices under Nigeria’s deregulated downstream petroleum market, but has stepped up surveillance to prevent price-gouging and other exploitative practices. The clarification came on September 19, 2026, as petrol prices climbed across major Nigerian cities, with retail outlets selling Premium Motor Spirit (PMS) at about N1,400 to N1,450 per litre. In a statement, the regulator said its role under the Petroleum Industry Act (PIA) is to oversee the market and protect consumers while allowing prices to be determined by market forces.…
The Lagos Waste Management Authority (LAWMA) has sealed several businesses along Ago Palace Way over persistent illegal waste dumping, as the state intensifies enforcement against indiscriminate disposal of refuse. The authority also arrested 11 people for allegedly engaging in unauthorised waste disposal across parts of Lagos Island. Muyiwa Gbadegesin, LAWMA Managing Director and Chief Executive Officer, disclosed the enforcement in a statement published on the official Facebook page of the Lagos State Government on Saturday. The Ago Palace Way operation targeted plazas, hotels, lounges and warehouses identified by the authority as contributing to waste accumulation and environmental nuisances along the…
Binance founder Changpeng Zhao’s estimated net worth jumped by about $9.8 billion in 24 hours to $91.2 billion, as the valuation of his stake in the cryptocurrency exchange continued to drive his fortune higher. The latest estimate, recorded on September 20, 2026, represents a gain of roughly 12 per cent in a single day, according to Forbes’ real-time billionaire tracker. Zhao’s fortune has also increased substantially this year. The Bloomberg Billionaires Index puts his year-to-date gain at about $41.5 billion, representing an increase of approximately 83.6 per cent. At 49, Zhao remains one of the most prominent figures in the…