By Ayo Kehinde Nigeria’s foremost industrialist, Aliko Dangote, is advancing plans to launch what could become Africa’s largest initial public offering, as Dangote Petroleum Refinery & Petrochemicals prepares to raise to $5 billion from investors. The highly anticipated share sale is expected to open as early as May, with analysts projecting a company valuation of between $40 billion and $50 billion. This positions the offering as one of the most significant capital market events in Africa’s history, reflecting both the scale of the refinery and growing investor interest in the region. According to market projections, the IPO will involve between 5 percent and 10 percent of the company’s equity. This structure is designed to attract a broad mix of participants, …
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By Ayo Kehinde The Federal Government has eliminated import duties on electric vehicles (EVs), mass transit buses, and manufacturing machinery, in a sweeping fiscal move aimed at easing cost pressures and curbing inflation. The announcement was disclosed on Monday by Bola Ahmed Tinubu’s Special Assistant on Social Media, Dada Olusegun, via a post on X. According to him, the directive followed the President’s instruction to key economic managers to design immediate measures to cushion the effects of the ongoing Middle East crisis on Nigerians, particularly in light of rising fuel costs. Olusegun said the administration approved a broad package of import duty reductions targeted at lowering prices, supporting businesses, and improving consumer purchasing power. “President Tinubu’s administration has approved a …
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. Accountability is not optional – Oyetola The Management of the Nigerian Maritime Administration and Safety Agency (NIMASA) has reaffirmed its commitment to accountability, improved performance, and sustained growth in the maritime sector with the signing of its 2026 Sectoral Performance Bond. The exercise was overseen by the Honourable Minister of Marine and Blue Economy, Dr Adegboyega Oyetola. The Director-General of NIMASA, Dr Dayo Mobereola, described the Performance Bond as a key governance instrument for tracking deliverables, strengthening institutional accountability, and aligning the Agency’s operations with national priorities. He stated that NIMASA’s ongoing reforms are driven by purposeful leadership and strategic ministerial support, adding that the Agency remains committed to delivering on its mandate in line with the Renewed Hope …
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