In the parallel market, also known as the black market, the dollar traded at around ₦1,390 to ₦1,397 for selling, while buying rates hovered between ₦1,385 and ₦1,390 depending on location and transaction volume.
According to the company, it had entered into an agreement with Barclays Capital Securities Limited to execute the programme through on-market purchases of its ordinary shares, which would subsequently be acquired by the company.
Bureau De Change operators in Lagos and Abuja quoted the dollar at around ₦1,385 for buying and between ₦1,395 and ₦1,400 for selling.
“Our target really is to get the larger part of the society to buy. Because it is a very good… I think it’s better you buy… you are looking at this now, people don’t know we are going to have 10 percent of the entire America’s production in terms of refining,” the billionaire said.
That’s one of the reasons I sold my stake in Geregu plant to come and invest my proceeds in the IPO of Dangote refinery,” said Otedola
The planned IPO is expected to involve the sale of about 10 percent equity in the refinery through what the Dangote Group has described as a pan-African public offering.
These rankings are based on IMF World Economic Outlook projections and can shift with new data releases, currency fluctuations, and global events.
President Tinubu disclosed that Nigeria would spend about $11.6 billion on debt servicing in 2026, representing nearly half of projected government’s revenue.
On January 23, 2026, Afreximbank officially terminated its rating relationship with Fitch Ratings following a prolonged dispute over the agency’s assessment of the bank’s risk and treatment of preferred creditor status.
Image: Lagos Governor Babajide Sanwo-Olu The National Bureau of Statistics (NBS) has ranked Lagos State as the most indebted state in Nigeria, owing creditors a total of N1.22 trillion and $1.17 billion in domestic and external debts, respectively, The statistics body said that Lagos State also recorded the highest external debt over the reference period…
