Dangote plans to list about 10 percent of the refinery on the Nigerian Exchange Group in 2026, a move widely seen as part of efforts to unlock value and broaden the company’s investor base. To drive the offering, Dangote has appointed a consortium of financial advisers, including Stanbic IBTC Capital Limited, Vetiva Advisory Services Limited,…
• Saleh Mamman The Federal High Court sitting in Abuja on Thursday convicted a former Minister of Power, Mr Saleh Mamman, of 12 counts of fraud and money laundering, charges preferred against him by the Economic and Financial Crimes Commission (EFCC). Mamman, who served in the administration of former President Muhammadu Buhari, was found complicit…
Aliko Dangote, the billionaire behind Africa’s largest industrial conglomerate, has set his sights on Nigeria’s epileptic power sector with a plan to generate 20,000 megawatts of electricity. Dangote’s entry into the sector follows a string of failed promises from the Nigerian government. Adebayo Adelabu, ex-Power Minister, has repeatedly missed deadlines to stabilise the grid at…
Photo: A coal fired power plant in Hanchuan, Hubei province, China / Getty Images Enugu State Government is on the move to build a 660MW coal-fired power plant in the state. The project is a part of Governor Peter Mbah’s administration’s strategy to actualise its vision to grow the state’s economy from $4.4 billion to…
The Nigerian National Petroleum Company Limited (NNPC) has again signed a Memorandum of Understanding (MoU) with two Chinese companies to get the government’s refineries working, especially the Port Harcourt and Warri. The Chinese firms are: Sanjiang Chemical Company Limited, and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd. The MoU to revamp the refineries…
• A gas filing station / Reuters image Egypt has raised natural gas prices for several energy-intensive industries starting in May, according to a prime ministerial decree published on Sunday. Reuters reported that the government has already raised domestic fuel prices by up to 17% in March in response to soaring global energy costs, and…
The United Arab Emirates has announced it is withdrawing from OPEC and the broader OPEC+. According to Reuters, UAE withdrawal is a significant setback to the oil-producing bloc and its de facto leader, Saudi Arabia, at a time when the ongoing Iran war has triggered a major global energy shock. The departure of the UAE,…
“Nigeria has not financed any major power generating plant in 11 years after government scrapped key risk guarantees that once attracted global investors.” That’s the Chairman of Geometric Power Group, Prof. Barth Nnaji. Nnaji stated this Monday in Lagos at the ongoing 19th Annual Conference of the Nigerian Association for Energy Economics (NAEE), under the…
Photo: Aliko Dangote Dangote Petroleum Refinery & Petrochemicals is hoping to raise up to $5 billion from investors across Africa through its initial public offering on the Nigerian Exchange Group (NGX) The share sale is expected to open as early as May, with analysts valuing the company between $40 billion and $50 billion, making it…
UN Trade and Development UNCTAD says that Strait of Hormuz disruptions has started weakening developing country currencies. UNCTAD, in its monitoring of changes in exchange rates against the dollar since the start of the military escalation (28 Feb 2026) till March 26, also said that the closure of the shipping line have started weakening global…
