Emele Onu

Seated beneath a large red canvas umbrella outside Nigeria’s main stock exchange in Lagos, Sulaimon Isiaka watches traders, bankers and executives stream past his newspaper stand each day.

The naira has strengthened almost 5% against the greenback since January, and Africa's largest oil producer's dollar bonds have returned 4.4%, but food, water, electricity, gas and other fuels and transport costs have soared.

Nigeria’s $22 billion pension industry is studying plans to launch a fund later this year to help Africa’s most populous nation upgrade its frayed infrastructure.

Nigeria anticipates remittances from citizens living abroad to increase by two-thirds over 2026 as it seeks to bolster its foreign-exchange reserves, its central bank governor said.

First HoldCo Plc, Nigeria’s biggest lender by market value, forecasts profit will jump this year after a capital injection strengthened its balance sheet, helping cut costs and boost loan recoveries.

Dangote Petroleum Refinery & Petrochemicals Fze reverted to the sale of petroleum products in naira, a week after switching to sales in US dollars.

Dangote reverts to pricing gasoline in naira A week after switching to sales in US dollars. By Emele Onu, Bloomberg ·

S&P Global Ratings acquired a majority stake in Nigeria-based Agusto & Co. to expand its coverage in Africa, which is seen as underserved by global ratings companies.

The deal deepens S&P coverage of Africa's domestic credit market, especially the corporate segment in which Agusto & Co has operated since 1992.

First HoldCo Plc plans to raise about 1.4 trillion naira ($1 billion) through a share sale after the Central Bank of Nigeria gave the nation’s biggest lender approval for the move.