Nigeria
AFC commits $600mn to back $7bn Dangote fertiliser expansion in Nigeria and Ethiopia
Dangote Group aims to triple urea production capacity in Nigeria to 9mn tonnes per year and build a new 3mn-tonne plant in Ethiopia.
Nigerian Exchange seeks pan-African participation in Dangote Refinery IPO with up to $50bn valuation
The Nigerian Exchange Group (NGX Group) is positioning the planned initial public offering (IPO) of Dangote Refinery and Petrochemicals FZE as a pan-African investment opportunity
Ethiopia grants first foreign investment banking licence to Nigeria's United Capital
Nigeria's United Capital Plc (NGX: UCAP) is the first foreign institution to secure an investment banking licence in Ethiopia, a milestone in the country's capital market liberalisation programme.
Nigeria’s Dangote refinery raises throughput above nameplate capacity to 700,000bpd ahead of IPO
Nigeria's Dangote Petroleum Refinery has upped crude processing to 700,000 bpd, exceeding its 650,000 bpd nameplate capacity, and confirmed plans to double throughput to 1.4mn bpd as it pursues an IPO.
AEC presents African Energy Person of Year 2026 award to Nigeria’s Aliko Dangote
The African Energy Chamber (AEC) has presented the “African Energy Person of the Year” award to Nigerian businessman and industrialist Aliko Dangote, the founder, president and CEO of the Dangote Group.
Can Chinese investors revive Nigeria’s troubled state-owned refineries?
Nigeria may give Chinese firms long-term operational and ownership stakes in the troubled Port Harcourt and Warri refineries; repeated state-led rehabilitation efforts have failed to restore stable operations.
Nigerian billionaire Femi Otedola sells Geregu Power stake to invest $100mn in Dangote refinery IPO
Nigerian investor Femi Otedola sold his stake in Geregu Power Plc (NGX:GEREGU) to position himself for investment in the proposed IPO of Dangote Petroleum Refinery, as investor demand for the listing reportedly surpassed $2bn.
Russia plans Africa summit in October as Moscow deepens Sahel ties
Russia will hold its latest Russia-Africa summit in October, according to officials involved in preparations for the event, as Moscow seeks to expand political, military and economic influence across Africa.
Dangote plans major Atlantic port project in southwest Nigeria to support oil, fertiliser exports
Dangote Industries, the parent company of a 650,000-bpd refinery, said the port would support exports of fertilisers and petrochemicals in addition to refined petroleum products
Dangote refinery sues to halt Nigeria petrol imports amid market battle
Dangote Petroleum Refinery has reopened its battle with fuel importers after filing a lawsuit seeking to halt petrol imports into Nigeria, arguing that continued import licences violate the Petroleum Industry Act and undermine domestic refining.
Nigeria grants pension funds waiver to invest in Dangote Refinery IPO
Nigeria’s PenCom has granted pension fund administrators a special waiver allowing investment in the planned Dangote Petroleum Refinery IPO, in support of what may be the largest listings in African capital markets history.
Nigerian billionaire Dangote favours Kenya over Tanzania for 650,000-bpd East Africa oil refinery
Africa's richest man says Kenya is emerging as the preferred location for a proposed $15bn–$17bn refinery, citing Mombasa’s deep port and large fuel market.
UK imposes sanctions against recruiters of African and other migrants to fight for Russia, build drones
The sanctions “expose and disrupt the operations of those trafficking migrants as cannon fodder and feeding Putin’s drone factories with illicit components,” the UK Sanctions Minister said.
Nigeria’s NNPCL signs MoU with Chinese companies to revive refineries with equity partnership model
Nigeria’s state oil company entered wants Chinese firms to accelerate the overhaul and restart of the state-owned 210,000-bpd Port Harcourt and 125,000-bpd Warri refineries amid soaring oil prices.
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AEC calls on African oil producers to remain in OPEC after UAE exit
The African Energy Chamber (AEC) has urged African oil-producing countries – Algeria, the Republic of Congo, Libya, Equatorial Guinea, Gabon and Nigeria – to remain within OPEC.
IMF: Africa shifts from external to domestic debt come with rewards and risks
A major transformation is underway in sub-Saharan Africa: Governments are increasingly shifting borrowing away from external debt and toward domestic debt. This trend brings fresh opportunities to build resilience and support development.
Number of people without electricity halved since 2000 – OWID
Most people in the world would think very little before flicking on the lights, charging a mobile phone or turning on a laptop to read this.
Nigeria’s Dangote refinery to expand downstream petchem portfolio with major LAB facility
Honeywell will provide process technologies and catalysts for both Dangote's Linear Alkylbenzene (LAB) unit and a 750,000tpy propylene production facility.
Nigeria fintech Flutterwave denies $75mn government investment, imminent IPO plans
Local media said President Tinubu approved an investment ahead of plans for Flutterwave to raise up to $250mn via an IPO.
Nigeria signs $1bn steel investment deal with India's Rashmi Metaliks Group
Nigeria has signed a $1bn investment agreement with India’s Rashmi Metaliks Group as Abuja steps up efforts to rebuild domestic steel production, reduce imports and expand higher-value industrial output from its mineral resources