The Journal seeks to become the most reliable, first-choice Pan-Nigerian information and public knowledge platform. The Journal Nigeria is a serious Journalism from an African Worldview
The Journal seeks to become the most reliable, first-choice Pan-Nigerian information and public knowledge platform. The Journal Nigeria is a serious Journalism from an African Worldview
Dangote Petroleum Refinery closed its historic N2.15 trillion initial public offering on Tuesday after drawing subscription applications from individual and institutional investors across 120 countries. The share offer marks the largest capital-raising exercise in the 66-year history of the Nigerian Exchange, establishing a new operational benchmark for domestic capital markets. Early subscription records indicate that…
Nigeria’s capital market regulator, the Securities and Exchange Commission, has cleared the procedural pathway for the Dangote Petroleum Refinery to offer 4.1 billion ordinary shares at N525 each. The transaction, expected to yield gross proceeds exceeding N2.1 trillion on the Nigerian Exchange, marks the largest equity flotation in African capital market history. Order books…
Africa’s largest ever share sale opens to the public on Monday, 14 September 2026, when Dangote Petroleum Refinery and Petrochemicals FZE begins accepting subscriptions for 4.1 billion ordinary shares priced at N525 each, a transaction that could raise about N2.15 trillion, or roughly 1.6 billion dollars, if fully taken up. The offer closes on 13…
Trading data released by the Nigerian Exchange Limited (NGX) for the week of 3 to 7 August 2026 shows that a small cluster of stockbroking firms continues to control the bulk of activity on the bourse, a pattern that mirrors the broader concentration already visible across Nigeria’s equities market this year. According to the…
Renewed profit taking swept through the Nigerian Exchange on Wednesday, erasing about N648bn from the value of listed equities and halting the brief recovery that had lifted the market only a day earlier. The benchmark All Share Index shed 0.41 per cent to close at 246,980.17 points, down from 247,984.55 points at the open,…
Nigeria’s stock market opened the week on an assertive note, adding N1.755tn in a single session as heavyweight banking, cement and insurance counters lifted the benchmark to a fresh record and stretched a rally that has now defined the equities story for most of 2026. At the close of trading on Monday, the All…
Aliko Dangote has all but concluded a $2.5bn private share placement for Dangote Petroleum Refinery and Petrochemicals FZE, clearing the path for what is widely projected to become the largest initial public offering in Africa’s history and one of the boldest tests yet of the continent’s ability to finance its own industrial ambitions from…
The Nigerian stock market has surged to the top of the global equity rankings, delivering the world’s best returns in US dollar terms. The local benchmark index achieved an explosive 67 per cent dollar return, narrowly outperforming South Korea’s Kospi index, which recorded a 66 per cent gain. This unexpected realignment across global bourses follows…
Investors have pumped over N100bn into Nigeria’s insurance sector as the regulatory recapitalisation exercise enters its critical final phase. Current shareholders are aggressively protecting their equity holdings rather than choosing to merge, dilute stakes, or exit the market entirely. Existing financiers are fully absorbing corporate rights issues and backing targeted private placements. This massive capital…
An aggressive wave of profit-taking wiped 5.15 trillion naira off the Nigerian Exchange in just four trading days. The sharp equity contraction marks a brutal start to June for domestic and foreign portfolio investors. Widespread sell-offs targeted previously resilient blue-chip corporations, dragging the market capitalisation down to 155.36 trillion naira. The sudden downturn ended a…