Business Archives - News Desk Nigeria

Afreximbank Targets $1bn Pan-African Film Fund To Boost Africa’s Creative Industry

NewsDeskNgNov 7, 2026November 7, 20260

Afreximbank plans a $1 billion film fund as leaders call for stronger African ownership, distribution networks and investment in the continent’s $60bn creative economy. The African Export-Import Bank (Afreximbank) on Friday disclosed plan to mobilise up to $1 billion for a Pan-African film fund, as part of efforts to expand...

CBN Sets N15bn Capital Requirement For Foreign Stablecoin Issuers, Tightens Dollar Token Rules

NewsDeskNgNov 7, 2026November 7, 20260

New CBN regulations require foreign stablecoin issuers to establish Nigerian entities, secure local licences and obtain approval for naira-dollar P2P conversions. The Central Bank of Nigeria (CBN) has introduced new regulations requiring foreign-currency stablecoin issuers to obtain local licences and establish Nigerian-incorporated entities, as it moves to tighten oversight of...

FG Targets $600M Investment For Creative Businesses As CANEX Opens In Lagos

NewsDeskNgNov 6, 2026November 6, 20260

FG unveils $600 million funding programme for Nigeria’s creative businesses as CANEX opens, with focus on investment, intellectual property and growth. The Federal Government is seeking to unlock more than $600 million in funding for Nigeria’s digital and creative industries through the Investment in Digital and Creative Enterprises (IDICE) programme....

Tesla To Wind Down Cybertruck Production As Sales Fall Short Of Expectations

NewsDeskNgNov 6, 2026November 6, 20260

Tesla will wind down Cybertruck production by mid-2027 as disappointing sales continue to undermine expectations for the electric pickup. Tesla plans to wind down production of its Cybertruck at its Gigafactory in Texas around mid-2027, as the electric vehicle manufacturer shifts its focus towards autonomous transportation following the model’s struggle...

Kenyan Tribunal Dismisses Petition Against Dangote’s Planned 700,000bpd Refinery

NewsDeskNgNov 6, 2026November 6, 20260

A Kenyan tribunal dismisses a consumer group’s petition challenging Aliko Dangote’s planned 700,000bpd refinery in Lamu. A Kenyan tribunal has dismissed a petition filed by a consumer rights organisation challenging Aliko Dangote’s planned crude oil refinery project in the East African country. According to Reuters on Thursday, the case brought...

Discos Collect N220.93bn In August As Revenue Collection Efficiency Rises To 84.62%

NewsDeskNgNov 2, 2026November 2, 20260

Nigeria’s Discos collected N220.93 billion from customers in August 2026, representing a 7.49% increase over the previous month. Nigeria’s electricity Distribution Companies (Discos) collected N220.93 billion from customers in August 2026, representing a 7.49 per cent increase over the previous month, as their revenue collection efficiency rose to 84.62 per...

Onyema Hails Fidelity Bank’s $400M Eurobond Repayment, Praises Onyeali-Ikpe’s Leadership

NewsDeskNgNov 1, 2026November 1, 20260

Allen Onyema commends Fidelity Bank for repaying its $400 million Eurobond from internal liquidity and completing recapitalisation ahead of schedule. Chairman and Chief Executive Officer of Air Peace, Dr Allen Onyema, has congratulated Fidelity Bank Plc on the successful repayment of its $400 million Eurobond at maturity, describing the achievement...

DoorDash Acquires Instacart In $17bn Deal To Expand Grocery Delivery Business

NewsDeskNgOct 29, 2026October 29, 20260

DoorDash agrees to acquire Instacart for $17 billion, expanding grocery delivery access as competition intensifies across US online delivery platforms. DoorDash has agreed to acquire Instacart in a $17 billion deal aimed at strengthening its grocery delivery business and expanding access to stores across the United States. DoorDash said the...

NLNG Seeks Oil Sector Certainty As Train 7 Secures $3bn Financing

NewsDeskNgOct 29, 2026October 29, 20260

NLNG says stable contractual terms and reliable production are critical to attracting investment, citing $3bn Train 7 financing and improved plant utilisation. The Managing Director and Chief Executive Officer of Nigeria LNG Limited (NLNG), Adeleye Falade, has called for greater certainty in Nigeria’s oil and gas industry, cautioning that the...

Dangote Refinery Makes History As IPO Draws Investors From All 54 African Nations, 120 Countries Globally

NewsDeskNgOct 28, 20260

Dangote Refinery’s ‘People’s IPO’ attracts investor applications from all 54 African nations and all inhabited continents with interest from 120 countries globally. Dangote Petroleum Refinery and Petrochemicals has successfully concluded its landmark Initial Public Offering (IPO), attracting investor applications from 120 countries across all six inhabited continents, including every one...