Aliko Dangote, Africa’s richest man, has seen his net worth rise to $34 billion, according to the latest update from the Bloomberg Billionaires Index, underscoring sustained valuation gains across his industrial empire. The increase represents a $216 million gain in a single day (+0.6%), with his year-to-date wealth growth now standing at about 13.3%, reflecting continued investor confidence in assets linked to Dangote Industries. Dangote retains his position as Africa’s wealthiest individual, with his fortune largely driven by core investments spanning cement, oil refining and fertiliser production. At the heart of his portfolio is the Dangote Oil Refinery—Africa’s largest refining…
Author: Abdoulaye Kay
Nigeria’s currency, the naira, has emerged as one of the best-performing currencies in Africa in 2026, even as foreign exchange (FX) pressures and global uncertainties continue to weigh on markets. A report by investment firm United Capital Plc indicates that the naira has appreciated by about 6.7 per cent against the US dollar year-to-date as of April 24, outperforming several major African currencies. In contrast, currencies such as the Kenyan shilling, Angolan kwanza, South African rand, and Ghanaian cedi recorded declines over the same period. The relative strength of the naira comes amid heightened volatility in global currency markets, partly…
The House of Representatives on Tuesday approved a $516 million external loan request by President Bola Ahmed Tinubu to finance sections of the Sokoto–Badagry Superhighway project. The approval followed the presentation of a report by the Deputy Chairman of the House Committee on Aids, Loans and Debt Management, Abdullahi Rasheed, during plenary in Abuja. President Tinubu, in a letter dated April 23, had sought the National Assembly’s approval to secure a $516,333,007 syndicated loan from Deutsche Bank AG for the project. Lawmakers endorsed the request after considering the committee’s recommendations. The Senate had earlier taken up the request, with Senate…
The House of Representatives Committee on Finance has adopted a proposed N105.14 billion budget for the 2025 operations of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC). The decision was taken on Tuesday during a budget defence session with the commission’s management, led by its Chairman, Mohammed Shehu, in Abuja. Presenting the proposal, Shehu disclosed that N20.6 billion was allocated for personnel costs, while N8.9 billion was earmarked for overheads. He added that N75.5 billion—representing 71.8 per cent of the total budget—was dedicated to capital projects. He also commended the committee for facilitating the recent amendment of the RMAFC Act,…
A member of the House of Representatives, James Faleke, has obtained the N100 million nomination and expression of interest forms of the All Progressives Congress on behalf of President Bola Ahmed Tinubu, formally signalling the start of his re-election bid for the 2027 presidential race. Faleke, who represents Ikeja Federal Constituency, picked up the forms on Tuesday in Abuja after the party declared the process open through its National Organising Secretary, Suleiman Argungu. The lawmaker, also known for leading the Tinubu Support Groups, completed the purchase of the forms valued at N100 million, a move that effectively marks the president’s…
The Pension Transitional Arrangement Directorate (PTAD) has completed payment of the final one-month arrears of the N32,000 pension increment to eligible retirees under the Defined Benefit Scheme (DBS). The disclosure was contained in a statement issued on Monday by PTAD’s Head of Corporate Communications, Mr Olugbenga Ajayi. According to PTAD, the latest disbursement brings to a close all outstanding arrears linked to the pension increase approved to enhance retirees’ welfare. The increment, authorised by the National Salaries, Incomes and Wages Commission, took effect from July 29, 2024. Ajayi said a total of N1.734 billion was paid to 54,206 eligible DBS…
The United States has stepped up efforts to boost agricultural trade with Nigeria through the revitalisation of the U.S. Department of Agriculture’s Export Credit Guarantee Programme (GSM-102). The programme offers U.S. government-backed credit guarantees, providing Nigerian banks and importers with improved access to financing for sourcing critical agricultural inputs from the United States. Officials say the move is aimed at strengthening U.S.-Nigeria agricultural trade, enhancing food supply chain reliability, and expanding commercial opportunities for both countries. Recent trade figures highlight growing economic ties between the two nations. Bilateral trade in goods and services reached nearly $15 billion in 2025, representing…
The 2026 Vital Voices Global Mentoring Walk, organised by Sheroes Rising for Development Initiative, was held in Kaduna on April 18, 2026, at Murtala Square. The event brought together women leaders, professionals, and emerging changemakers for a guided mentorship walk focused on leadership development and networking. The Global Mentoring Walk is an international initiative that uses structured walking conversations to connect experienced professionals with young leaders, creating an informal but impactful mentorship environment. Building on the success of the 2025 Abuja edition, this year’s Kaduna event expanded its reach, strengthening mentorship ties and promoting women’s leadership across Northern Nigeria. Held…
The President of Dangote Industries Limited, Aliko Dangote, has pledged to construct a ₦550 million students’ hostel at the Federal University of Technology, Owerri (FUTO). Dangote made the announcement on Monday in Owerri during a public lecture he delivered at the university on the theme, “Enterprise, Leadership and Service to Humanity.” He said the gesture is aimed at addressing the institution’s accommodation challenges. The industrialist also donated ₦25 million to students through the Student Union Government (SUG) at the event. According to him, the planned hostel project will help ease the shortage of student accommodation on campus and improve students’…
The Joint Admissions and Matriculation Board (JAMB) has debunked a purported Unified Tertiary Matriculation Examination (UTME) result slip circulating online, which claims a candidate scored 394 in the 2026 examination, describing it as entirely fake. The result, widely shared on X, alleged that a female candidate, Okon Winniefred Sampson, scored 394 out of 400. However, in a statement signed by its spokesperson, Fabian Benjamin, on Sunday, the board expressed concern that the fabrication is being widely circulated, even among otherwise well-informed Nigerians. According to JAMB, the result slip in circulation does not match its official format. https://twitter.com/FabianB58246501/status/2048358504667214071?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E2048358504667214071%7Ctwgr%5Ee5ab6dab5249a90ae701d00f19d517a51f5e3ec5%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.channelstv.com%2F2026%2F04%2F26%2Fjamb-disowns-fake-396-utme-result-slip-circulating-online%2F The board explained…