UAC of Nigeria Plc is set to acquire full ownership of CHI Limited, makers of Chivita and Hollandia, from The Coca-Cola Company—marking a major play in Nigeria’s FMCG industry.
Guaranty Trust Holding Company Plc (GTCO) has become the first Nigerian—and West African—financial institution to list its shares on the London Stock Exchange, marking a historic milestone in its global growth strategy.
Nigerian crude prices soared to $72.3 per barrel, outpacing global benchmarks as Houthi attacks in the Red Sea stirred fresh supply concerns. Meanwhile, Dangote refinery eyes a full transition to local crude by year-end.
After nearly three years of restrictions, Nigerian banks have resumed international transactions on naira-denominated cards, offering customers greater flexibility for global payments.
Yikodeen, Nigeria’s leading safety footwear manufacturer, has raised $1.5 million from Aruwa Capital to scale production, expand across West Africa, and boost local job creation. The investment will fund new equipment, factory upgrades, and digital quality control systems while advancing gender inclusion and social impact.
The IMF projects Nigeria’s fiscal deficit to rise to 4.7% of GDP in 2025, driven by falling oil revenues and increased government spending. While 2024 saw some improvement, the IMF urges urgent policy action, tax reforms, and full implementation of fuel subsidy savings to prevent deeper fiscal instability.
Aradel Holdings Plc and Wema Bank Plc have joined the NGX 30 Index as part of NGX's half-year review, replacing Conoil and Julius Berger. The shake-up also affected indices in consumer goods, insurance, industrials, and more.
Afreximbank is set to revolutionize Nigeria’s textile industry with a $5 billion facility expected to create 250,000 jobs. The project, launching in July, is part of the bank’s wider industrialisation strategy across Africa.
The Federal Government has launched a ₦100,000 inventory loan scheme through CREDICORP, targeting 10,000 market women in 224 markets across Nigeria. This initiative aims to empower women traders and strengthen Nigeria’s informal economy through affordable credit.
Foreign direct investment into Nigeria dropped by 19% in Q1 2025, falling to $250 million, according to the Central Bank of Nigeria. Despite a positive trade balance, capital flight and declining investor confidence weighed heavily on the country’s external position.