Namaster: J.P. Morgan’s plan to establish a merchant bank in Nigeria signals growing confidence in the country’s economic outlook.
J.P. Morgan’s plan to establish a merchant bank in Nigeria signals growing confidence in the country’s economic outlook and the potential for more high-value transactions, according to financial analysts.
The proposed merchant bank, expected to commence operations before the end of 2026 subject to regulatory approval, could deepen financing for Nigerian businesses, strengthen capital market activities and introduce international expertise into the country’s financial services industry.
Ayodeji Ebo, chief executive officer of MDU Capital, said the decision suggests that J.P. Morgan sees increasing opportunities for transactions in Nigeria and is becoming more confident about the country’s economic prospects.
“For a merchant bank, there are more high-end transactions, not the retail deposit likes, and also structured transactions,” Ebo said.
He said the planned expansion points to improving economic activity and growing confidence in Nigeria, adding that the presence of an international financial institution of J.P. Morgan’s scale could also provide opportunities for local market participants to learn from its experience.
According to Ebo, the move further reinforces the positive outlook on Nigeria’s economy, particularly as foreign companies consider establishing or expanding their operations in the country.
Ayokunle Olubunmi, head of Financial Institutions Ratings at Agusto & Co., said the development reflects renewed interest in Nigeria’s market among international investors, particularly against the backdrop of changes in key macroeconomic indicators.
Olubunmi noted that J.P. Morgan’s plan was not entirely new, as the bank had announced its intention to establish a merchant banking presence in Nigeria about one or two years ago.
He said the entry would be positive for the banking industry, given the international bank’s experience operating across markets at different stages of development.
According to him, that experience could improve the quality of financial services and products available to Nigerian businesses while strengthening the capacity of the domestic banking sector to support complex transactions.
He added that the proposed subsidiary could also help facilitate financing for large-ticket transactions that may exceed its local balance sheet capacity, potentially drawing on the resources of J.P. Morgan’s wider global operations.
This could expand funding options for businesses undertaking major investments and transactions, although the extent of the impact would depend on the bank’s eventual operating model and the scale of its Nigerian operations.
Dapo Olagunji, managing director of J.P. Morgan West Africa, announced the plan at the Nigeria–Asia Financial Connectivity Dialogue in Singapore, convened by the Central Bank of Nigeria in partnership with J.P. Morgan, Nigerian Exchange Group and FMDQ Group.
The proposed merchant bank is expected to deepen J.P. Morgan’s presence in Nigeria and strengthen its links with local businesses and the country’s capital markets. Its launch remains subject to the completion of the relevant regulatory approval process.
The announcement follows earlier engagements between the bank and Nigerian authorities. In January 2025, a delegation led by Olagunji met with Wale Edun, then minister of finance and coordinating minister of the economy, at the ministry’s headquarters in Abuja.
J.P. Morgan has also maintained a connection with Nigeria’s domestic debt market through its government bond indices. The country was first admitted into the bank’s Government Bond Index in October 2012, following the development of an active domestic Federal Government bond market supported by market makers, a two-way quote system and a broad investor base.
More recently, J.P. Morgan included Nigeria in its Government Bond Index–Emerging Markets Edge, assigning the country a 7.4 percent weighting in the benchmark, which tracks local-currency government debt across frontier emerging markets.
The planned merchant bank adds another dimension to the international financial institution’s engagement with Nigeria, potentially linking its global financing capabilities more directly with domestic businesses and capital market opportunities.
However, analysts’ assessment of the move as a sign of improving confidence should not be mistaken for a guarantee of stronger economic performance.
The actual benefits will depend on the transactions the bank undertakes, the financing it makes available and the broader business environment in which it operates.
That's highly impressive coming from the LARGEST international bank in the United States even though they have a West African office already coordinating their activities. It CLEARLY shows legit international investors' confidence in the financial sector and some positive macroeconomic reforms in Nigeria.Indeed, J.P. Morgan has a top-notch private banking division which caters to the legitimate needs of certified investors or clients as well in addition to those of other international banks such as Citi Group, Bank of America, UBS, etc.
The Lagos PDP Governorship Candidate today at #ThePlatform, Mr Deji Doherty says he will ‘introduce Gas’ to the BRT system in Lagos State BUT just yesterday, The Lagos Metropolitan Area Transport Authority (@Lamataonline) received 35 Compressed Natural Gas (CNG) under the Presidential Initiative PI-CNG & EV.
- An initial 35 CNG buses have already being given to Lagos State thru LAMATA, before these ones launched yesterday
- Dana already gave 30 CNG buses through LAMATA for public transport
- 2000 buses being expected thru private sector under PPP which has been ratified by the Lagos House of Assembly
- Finally, recall those electric buses we announced their test-run about a year ago or so, Oando has now completed their test run, an initial 50 buses have been shipped, on their way out of 500 coming to Lagos.
Let’s Stay updated @OfficialPDPNig
The Lagos PDP Governorship Candidate today at #ThePlatform, Mr Deji Doherty says he will ‘introduce Gas’ to the BRT system in Lagos State BUT just yesterday, The Lagos Metropolitan Area Transport Authority (@Lamataonline) received 35 Compressed Natural Gas (CNG) under the… pic.twitter.com/fzd3R78oKr
The Lagos PDP Governorship Candidate today at #ThePlatform, Mr Deji Doherty says he will ‘introduce Gas’ to the BRT system in Lagos State BUT just yesterday, The Lagos Metropolitan Area Transport Authority (@Lamataonline) received 35 Compressed Natural Gas (CNG) under the Presidential Initiative PI-CNG & EV.
- An initial 35 CNG buses have already being given to Lagos State thru LAMATA, before these ones launched yesterday
- Dana already gave 30 CNG buses through LAMATA for public transport
- 2000 buses being expected thru private sector under PPP which has been ratified by the Lagos House of Assembly
naptu2: The Federal Government previously gave Lagos 35 CNG buses.
They gave Lagos 35 additional CNG and electric buses last week.
This company is injecting 50 CNG buses into the Lagos network, beginning with 15 now and the remainder before the end of the year.
Dana gave Lagos 30 CNG buses.
The Lagos State Government is bringing 2,000 additional CNG buses.
Oando has been test running electric BRT buses for more than a year. The test period is over and they have shipped 50 electric buses to Lagos and 500 more will be brought in.
Lagos Metropolitan Area Transport Authority LAMATA @Lamataonline
Signals New Phase in Lagos Public
Transport Transformation
The transformation of public transportation in Lagos State has entered another significant phase with the launch and deployment of Compressed Natural Gas (CNG) buses by Amalgamated Megacity Transport Services Limited, signalling growing private-sector confidence in the State’s vision for a cleaner, more efficient and sustainable transport system.
The launch represents a major step in the implementation of the Lagos State Bus Industry Transition Programme (BITP), under which transport operators are increasingly taking responsibility for investing in modern, high-capacity buses and embracing cleaner propulsion technologies.
Commissioner for Transportation, Mr. Oluwaseun Osiyemi, described Amalgamated’s investment as a demonstration of confidence in the future of public transportation in Lagos and a commitment to the State’s transition towards cleaner energy.
He noted that the State’s transportation reform agenda was not limited to buses but encompassed rail, Bus Rapid Transit (BRT), Quality Bus Corridors, interchanges and water transportation, all of which are being developed to create an integrated and sustainable multimodal transport system.
According to the Commissioner, CNG represents an important transition technology in Lagos’ clean-mobility journey rather than the final destination. The State’s long-term ambition is to progressively move from conventional fossil-fuel-powered transportation towards low-emission and ultimately zero-emission mobility, particularly through the adoption of electric buses and other emerging technologies.
This strategy is designed to ensure that rail, buses, waterways and emerging electric mobility solutions complement one another, providing Lagos residents with more efficient transport choices while reducing emissions and dependence on conventional fossil fuels.
Speaking at the event, the Managing Director/CEO of the Lagos Metropolitan Area Transport Authority (LAMATA), Engr. Mrs. Abimbola Akinajo, said Amalgamated Megacity Transport Services Limited had been engaged from the outset with the expectation that operators would invest in acquiring their own buses, with particular emphasis on cleaner technologies such as CNG and electric vehicles.
She disclosed that Amalgamated had committed to acquiring 50 CNG buses, with 15 already delivered and the remaining buses expected before the end of 2026.
The investment, she noted, was evidence that the transition to cleaner mobility was no longer merely a policy aspiration but was already taking root within the Lagos transport industry.
“This is the direction we expect the industry to go,” she said, emphasising the importance of operators taking greater ownership of fleet renewal and investment in the future of public transportation.
The investment comes at a critical time for Lagos, where rising population, expanding economic activity and increasing travel demand continue to place pressure on the public transport system.
Engr. Akinajo disclosed that Lagos requires approximately 15,000 high-capacity buses, alongside the rail and water transport services that form part of the State’s integrated multimodal transportation network.
She stressed that meeting this scale of demand would require sustained collaboration between government and the private sector.
LAMATA, she said, remains committed to creating an enabling environment in which transport operators can invest, innovate and deliver better services to commuters, while recognising that the scale of investment required to meet Lagos’ transportation needs makes private-sector participation indispensable.
The launch therefore represents more than the addition of new buses to the Lagos fleet. It reflects a fundamental shift in the structure of the State’s bus industry, with operators increasingly becoming investors and partners in the delivery of modern public transportation.
These high-capacity CNG vehicles have long been expected since the ending of 2023-2024 as promised by Babajide Olusola Sanwo-Olu. It's BETTER late than NEVER though.
The next step is to reduce the high cost of house rentals and the high cost of living in general for the folks in Lagos [and other cosmopolitan and metropolitan cities which these folk have complained about largely since 2023]. Period.
fergie001: Why Waziri Atiku Abubakar Should Apologise To President Bola Ahmed Tinubu
Dear Waziri Atiku Abubakar,
I watched your press conference today and noticed that you repeatedly referred to the President and Commander-in-Chief of the Armed Forces as 'Bola' rather than President Bola Tinubu.
Sir, I appeal to you, as a most respected elder statesman, to find it within yourself to address the President and Commander-in-Chief of the Armed Forces with the respect due to his office.
This will show good judgment on your part and demonstrate the temperament required of a good leader.
Repeatedly referring to the President as 'Bola' sets a poor precedent. It is wrong, sir, and reflects poorly on Nigeria and Nigerians in the international community. It portrays opposition politics in Nigeria as pedestrian.
Also, because you never referred to President Muhammadu Buhari, whom you contested against in 2019, as Muhammadu, your action of referring to the President as 'Bola' will divide Nigeria and cause Nigerians to believe that you respected General Muhammadu Buhari because he was a Northerner and was of the same ethnicity as you. I know that is not the case.
Even when you fell out with your boss, President Olusegun Obasanjo, you never referred to him as 'Olusegun'. You always gave him the respect due to his office by calling him President Obasanjo, even when you criticised him.
Yet this was a President who called you names I cannot even print here, and in December 2006 declared your office as Vice President vacant, then withdrew your rights and privileges, and even ordered you out of a Federal Executive Council meeting.
President Tinubu has not done any of that. He was in your corner when you were being bullied and offered you a ticket on the Action Congress platform. Yet, you disrespect him and respect President Obasanjo.
By all means, sir, do criticise the President. That is what democracy is all about. But in doing so, you ought to still give regard to the office he holds. To disrespect that office is to disrespect Nigeria, the very same country you aspire to lead.
On Thursday, November 17, 2022, President Barack Obama, who is not an incumbent, gently warned Trevor Noah that it is rude for Mr Noah or anybody else to call him by his first name. He explained, "You should call me 'Mr President. '" President.'" Those were his exact words.
If that is the decorous way to refer to a former President, how much more so to an incumbent leader.
Calling a President by their proper appellation, which is "Mr President" or "Madam President", shows that you are a democrat who recognises that the Head of State of a country is ALWAYS worthy of respect because of the office they occupy and the people they lead.
You could have said everything that you said today, and even more hard-hitting jibes, while still referring to His Excellency, Bola Ahmed Tinubu, GCFR, President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, by his correct appellations.
You may recall that in 2022, specifically on Thursday, November 3, 2022, during the campaign and before the election, you accused a notable politician of being "rude" and "disrespectful" towards you and asked for an apology.
That episode shows that you also want to be treated with respect. Therefore, shouldn't you treat others as you would like to be treated?
I sincerely appeal to you, sir, to acknowledge the error of calling the President by his first name, apologise for being indecorous to him, and set a better standard of democratic behaviour for younger Nigerians to follow.
I thank you, sir, and may God bless the Federal Republic of Nigeria and sustain our democracy.
Bemigho Reno Omokri Ambassador-designate to Mexico
On Thursday, November 17, 2022, President Barack Obama, who is not an incumbent, gently warned Trevor Noah that it is rude for Mr Noah or anybody else to call him by his first name. He explained, "You should call me 'Mr President. '" President.'" Those were his exact words.
If that is the decorous way to refer to a former President, how much more so to an incumbent leader.
Vision101: No it is the hardship in Nigeria caused by Tinubu that pushed them to commit suicide.
Hey... Stop typing trash here! Those 3 young ladies are British-born... Lived all their lives in the United Kingdom. Absolutely NOTHING to do with that country called Nigeria.
DiamondsAreFore: Three sisters who drowned in the sea in Brighton collectively decided to end their own lives, a coroner has ruled.
The bodies of Jane Adetoro, 36, Christina Walters, 32, and Rebecca Walters, 31, all from London, were recovered from the sea off Brighton in the early hours of 13 May.
An inquest into their deaths heard on Thursday that in the days before they died, the three women made a trip together to Birmingham to visit the former home of their mother, who died by drowning in 2010.
The inquest at Woodvale coroner’s court in Brighton heard that the sisters travelled by taxi to Birmingham on 11 May and were dropped off at 11.36pm at Linton Walk. The address is close to Brookvale Park Lake, where their mother, Janice Adetoro, died. They were picked up to return to the flat they lived in together in Greenford, west London, at 1.28am on 12 May.
DCI Mark Cullimore, of Sussex police, told the hearing there was no CCTV to show what the women did in the time they were in Birmingham.
On the evening of 12 May, they took a pre-booked taxi to Brighton and arrived near the seafront at 10.21pm. They are thought to have last been seen alive on CCTV from the beach at 2.42am on 13 May.
The bodies of Jane Adetoro and Christina Walters were located by a RNLI lifeboat crew; Rebecca Walters’ body was recovered from the shoreline on Brighton beach.
The senior coroner Penelope Schofield told the court on Thursday: “In hours of darkness, they entered the sea at Brighton, they could not swim and sea conditions were adverse.”
A postmortem found all three women had drowned. There was no evidence of any drugs or alcohol in their bodies and no evidence to suggest they had been subjected to violence.
The coroner concluded that the medical cause of death for all three women was drowning and that they had died by suicide.
Schofield told the court: “These three sisters lived very secluded lives, they were incredibly private. We don’t know why they took this course of action or indeed why they chose to do it in Brighton. It is not for the court to speculate and sadly these reasons may never be known.”
The inquest heard that Christina Walters had suffered from anxiety and depression since her mother’s death, but no such issues were recorded for her sister Rebecca. Adetoro was not registered with a doctor.
The women’s father, Joseph Jacobson, who attended the hearing by video link, said in a written statement: “There are no words that can adequately express the pain of losing a child. To lose all three of my precious daughters, Jane, Christina and Rebecca, is a heartbreak beyond anything I could ever have imagined.”
He said he could not understand why their lives had ended so suddenly, adding: “You were my daughters, you will always be my daughters and I will love you for the rest of my life. May your beautiful souls rest in perfect peace.”
Even though we live in a conflating world, this alleged mass suicide of those 3 biological sisters makes absolutely NO SENSE at all... Just 16 years after the passing on of their biological mother.
Love800: Is like olu Jacobs is the first nigerian actor to feature in Hollywood movies.
NO! Pa Oludotun Baiyewu-Jacobs (Olu Jacobs) WASN'T the FIRST Nigerian to feature in Hollywood movies.
The FIRST Nigerian to act in the American movie industry was Pa Orlando Martins who was of Yoruba ancestry and an indigene of Isale Eko [Lagos Island] in Lagos State who acted in movies in England before moving on to Hollywood in the United States from 1949 where he acted alongside the former American President Ronald Reagan who was a star film actor before becoming the President of the USA.
I remember full well that when Pa Orlando Martins passed on in the early 1980s, the then President Ronald Reagan paid tributes to him by sending his condolences to Pa Orlando Martins' family.
The Nigerian entertainment industry has been thrown into an emotional moment following the passing of veteran Nollywood actor Olu Jacobs, with tributes continuing to pour in from colleagues, fans and admirers across the country and beyond.
Among those who have paid tribute is fellow Nollywood actor Yul Edochie, who described Olu Jacobs as one of the greatest actors to emerge from the African continent. In his emotional tribute, Yul said the news of Jacobs’ passing hit him particularly hard, recalling the tremendous respect and admiration he had for the veteran actor.
Yul Edochie also shared a personal memory from their time working together. He revealed that whenever they found themselves on the same movie set, he would sometimes remain behind even after completing his own scenes simply to watch Olu Jacobs perform.
According to Yul, observing the veteran actor was itself a learning experience. He said he learnt not only from working alongside Jacobs but also from carefully watching his acting style, delivery and professionalism.
Yul described Olu Jacobs as a consummate thespian and expressed gratitude for the kind words and encouragement the veteran actor gave him whenever they worked together. He also thanked Jacobs for the lasting legacy he left behind and prayed for strength and comfort for his family, friends, colleagues and everyone who loved him.
Meanwhile, another emotional moment emerged from Nollywood as actor Emeka Ike was seen breaking down in tears in a video circulating online following the news of Olu Jacobs’ death.
The reactions highlight the enormous influence Olu Jacobs had on generations of Nigerian actors. Beyond the numerous characters he portrayed on stage and screen, he was widely regarded by colleagues as an influential figure whose career spanned theatre, television and film.
For many in the Nigerian entertainment industry, Olu Jacobs represented a generation of performers whose professionalism, discipline and mastery of the craft helped shape the standards that subsequent generations inherited.
As tributes continue to emerge, his colleagues are remembering not only the roles he played but also the lessons, inspiration and influence he passed on to younger performers.
Olu Jacobs may have taken his final bow, but the characters he brought to life, the actors he inspired and the legacy he built over decades will continue to remain part of the story of African cinema.
Bump.
Very profound eulogies for Oludotun Baiyewu-Jacobs... Omo Ogun.
LottiOk: He has challenged u and ur fellow shallow thinking hordes dat keep refurgitating dis rigging claim to present ur evidence dat Obi won Rivers State. Come on show us d ward by ward LP PU agents results sheets where Obi scored more votes dan any other candidate and shame him.
I know u dont understand, so let me break it down for u further, Every Polling unit agent of every party participating in any election must sign and collect his own copy of d result sheet where all d votes are tallied.
LP PU agents collected dia own result sheets in Rivers State so dey should present it and show to d world dat Obi scored highest votes in dia units and when calculated is more dan what INEC uploaded.
Do dis and let d world see truly u r telling d truth and not just repeating lies dat u were feed
SonOfDSoil01: define free and fair election? Obi won his 5plot region with over 100% vote yet no cry of rigging or inec glitch except in other regions where he was rejected at the polls……how convenient even though we all knew SE region recored voter intimidation and vote buying but as usual, Una go always claim to be the victim
That ATTACHED screenshot was really revealing and deep with regards to regional and State-wide "vote buying" in that 2023 election cycle!
fergie001: The Minister of the Federal Capital Territory, Nyesom Wike, has dismissed claims by supporters of Peter Obi, the Labour Party’s 2023 presidential candidate, that their principal won Rivers State, describing the assertion as a product of “imagination.”
Wike spoke on Monday during an interview on TVC’s Journalists’ Hangout, where he was asked whether the support he enjoys in Rivers is organic, given the narrative by Obi’s supporters, popularly called Obidients, that their candidate won the state in the 2023 presidential election.
“They won by their own imagination,” he said. “Who did INEC declare to have won?”
The former Rivers State governor also questioned the strength of the claim, noting that it fell short when tested at the election petition tribunal.
“When they went to the tribunal, were they able to defend their claim?” he asked.
The FCT minister said the Obidients’ claim of victory was a matter for social media and not the ballot. “You can win on social media; I’m not interested in social media winning,” he added.
He also argued that no one could declare a winner from a single vantage point in the state, saying, “You don’t stay in one place in Port Harcourt and say Obi has won.” Rivers, he noted, the state capital has 23 Local Government Areas.
pocohantas: I saw the detergent own and I was shocked. Even before seeing that video, I knew something wasn't right with the taste, smell and shelf life of fufu they sell around.
We had a farm growing up and we used to make and sell fufu to restaurants. Our fufu never had that metallic smell or taste that overwhelms the taste of the soup because we fermented the cassavas naturally. I grew up and started buying from stores in Lagos, but the taste was horrible. I picked it immediately and stopped. Now I only eat eba, sometimes semo when my lovely dad hasn't sent me garri from the village😂.
Another has to be ponmo. If you see where they soak ponmo in chemicals, you would throw up at the stench. It is imported dried like hide for shoes. Then they soak to resusticate it and cut into N500 and N1000 portions. The only legit ponmo is those thick ones you see with the butchers. That soft ponmo you can eat without cooking is dangerous. A disaster waiting to happen. Sadly we are addicted to it.
These are indeed highly severe carcinogenic substances being used to make and/or preserve the food items here... Detergent, bleach, formalin... Damn! That's why cancer rates from the over 100 types of cancers (depending on the body parts affected) are spiking annually in addition to other bad culinary choices. Those endangering the lives of others have to be taken down by the law enforcement agents ASAP. Eternal vigilance is key.
Kingzjayzee: Some residents in Lagos State have raised concerns over suspected unsafe preparation and preservation of fufu.
They expressed their concerns in separate interviews with the News Agency of Nigeria on Sunday in Lagos.
NAN reports that fufu, also known as akpu or santana in Nigeria, is a local staple made from fermented cassava.
The cassava is peeled, soaked for days to ferment and remove toxins, blended, strained and cooked into a smooth dough.
Ready-to-eat portions of fufu previously sold at N1,000 for 13 balls are now sold at the same price in smaller portions.
Some consumers have gradually stopped eating fufu made in Lagos over concerns about its preparation, preservation and possible food poisoning.
A resident of Ajegunle, Miss Omena Udonwa, said her past experiences with fufu preparation had led her family to start making it themselves.
Udonwa said she was dissatisfied with the way some producers processed the staple.
“I saw a piece of rubber inside a fufu I bought recently and, if not for my vigilance, I would have consumed it.
“I once saw a producer who used detergent to wash the cassava and saw nothing wrong with what they did,” Udonwa said.
A Costain resident, Mr Adedayo Falade, said he loved fufu because it gave him the energy to engage in hard labour without getting tired easily.
Falade, however, expressed displeasure over the preparation methods used by some producers, saying they resulted in foul-smelling and sticky fufu.
“I rarely eat fufu now. Some fufu stays for days and even weeks on sale without patronage due to poor preparation methods.
“In spite of my love for fufu, I would rather source it from outside Lagos because I no longer trust how it is prepared here.
“Some processors in Lagos are just greedy for extra gain, so they can boycott good practices just to sell the product,” Falade said.
Another resident of Agege, Mrs Anuoluwapo Ayeni, said some fufu processors could be trusted, but consumers needed to be careful about where they bought the staple.
“Fufu is a good meal, but I urge Lagosians to be careful where they purchase their fufu.
“It will be beneficial to know how the fufu you consume is sourced and prepared to avoid health challenges in the future.
“We still have good processors, but they are few. Everyone should be sure of what they consume,” Ayeni said.
However, a fufu processor at Santana International, White Sand, Oyingbo, Mrs Hope Aniekan, described the stages involved in processing and storing the staple.
Aniekan said the cassava was first peeled and thoroughly washed with clean water before being soaked for about two days.
She explained that the soaked cassava was taken to a mill for grinding and subsequently filtered to remove unwanted particles.
According to her, after 30 minutes, the resulting paste was placed in a sack, covered with plantain leaves and weighted with a heavy stone.
“We adopt the traditional procedures in processing our fufu here. Our fufu can be trusted and our customers can attest to it.
“We only make use of salt in our fufu as a means of preservation to prevent the infestation of maggots.
“No other harmful additives are in our fufu, but I can only speak for myself. I don’t know how others process theirs.
“We have heard rumours of some unscrupulous processors adding harmful substances to quickly ferment their fufu,” she said.
Another resident and trader of the staple, simply known as Mama Chinonso, at Costain, said she used a warmer to preserve her fufu.
She said the method could keep the fufu fresh for three days during warm weather and up to one week during cold weather.
“I don’t add anything to preserve my fufu for long. When I am supplied, I simply keep it in my warmer to maintain its freshness.
“In warm weather, the fufu can last for three days and still be edible, but in cold weather, it can last up to a week.
That country called Nigeria is indeed a crime scene that's terribly infested with deviants who ONLY want to make quick bucks off of innocent folks on the street level. These food preservation and food preparation infractions which have gone on in several States of Nigeria for years now based on several media reports have to be met with very severe legal punitive measure!
Beeron: Dangote retains about 85% ownership stake of the company, 5% to private placements moneybags like Otedola and 20% to co-owners like you all over social media sir.
The stock has low free float, infact all Dangote companies stocks has low free float because he always retain atleast 80% owner, if he isn't strategic about it, another billionaire will buy him out of his own company just like Elumelu secretly bought Otedola out of Transcorp and the same way, Otedola secretly bought Otudeko out of Firstbank.
ROOT ANY PLANT CUTTING FAST With This FREE Technique!
https://www.youtube.com/watch?v=Dhrhob_9dmo Amish Gardening • Sep 2026 Root almost any plant cutting for free using cinnamon & aloe. Strip leaves, wound the base, soak in cinnamon water, then coat in aloe gel.
MCentral: Billionaire industrialist Aliko Dangote has confirmed that small retail investors will receive preferential equity allocation during the upcoming ₦2.15 trillion ($1.5 billion) Initial Public Offering (IPO) of Dangote Petroleum Refinery & Petrochemicals FZE.
Speaking ahead of the September 14 book-building launch, Dangote stated that subscription orders from retail buyers purchasing entry blocks of ₦50,000 to ₦100,000 will be approved and fully allotted prior to institutional scaling.
“Those small investors who want to buy with ₦50,000 or ₦100,000 will get approval first, then the rest will share,” Aliko Dangote, said in an interview with Abis Fulani.
The promoter framed the public offering—priced at ₦525.00 per share with a minimum entry threshold of 10 shares (₦5,250)—as a wealth-creation vehicle for domestic retail investors.
Dangote projected long-term upside toward a ₦10,000 per share valuation target, emphasizing that the complex’s dollar export revenue streams will support dual-currency (Naira or USD) dividend payout options to hedge investors against currency devaluation.
“The share now is ₦525. This share will one day become ₦10,000. So, if you buy and it becomes ₦10,000, and you put in ₦5 million, it becomes ₦50 million plus. You have become rich, and there is no need to sell. You don’t have to fear devaluation. You can choose dividend in naira or in dollars,” Dangote said.
Watch the interview below:
The Dangote Refinery share, which is ₦525 per share now, will reach ₦10,000 per share. Your ₦5 million investment now will become over ₦50 million.
- Aliko Dangote
“Those small investors who want to buy with ₦50,000 or ₦100,000 will get approval first, then the rest will… pic.twitter.com/IGvthJOAXG
MCentral: Nigeria’s non-oil exports outpaced oil exports in the third quarter for the first time, the Finance Ministry (MOF) and Central Bank (CBN) said, marking a symbolic break with the country’s long-standing reliance on crude revenue as foreign-exchange reserves climbed above $55 billion.
The government did not provide the underlying export values, product breakdown or comparison period in the statement.
Even so, the statement represents a significant shift in the composition of Nigeria’s trade account if sustained: oil has historically been the dominant source of export earnings and foreign currency, while non-oil shipments have been more vulnerable to weak logistics, limited industrial capacity and FX constraints.
The announcement comes after Nigeria recorded an overall balance-of-payments surplus of more than $5 billion in 2025, according to the document.
The rise in reserves gives the Central Bank of Nigeria a larger cushion to meet foreign-currency demand, manage volatility in the naira and support the improved capital-repatriation conditions that foreign investors have sought.
The fall in refined petroleum-product imports is central to the improving balance.
Nigeria has traditionally exported crude while importing much of its refined fuel needs, creating a structural mismatch that left the trade account and the naira exposed to international product prices.
The statement from the CBN and MOF said domestic refining capacity is expanding, reducing refined-product import demand.
FX and reserves implications
Reserves above $55 billion provide a stronger defense against swings in oil prices, portfolio flows and global financing conditions. They also help reinforce confidence in the foreign-exchange market after a period in which liquidity and repatriation concerns kept some offshore investors away.
The Finance Ministry and CBN linked the external improvement to gains in FX liquidity, market accessibility and the ability to repatriate capital. FTSE Russell has confirmed Nigeria’s return from Unclassified to Frontier Market status effective Sept. 21, while JPMorgan has announced Nigeria’s inclusion in its new frontier local-currency government-bond index.
Fiscal-monetary pact
The export and reserve news follows a Sept. 18 memorandum of understanding between the Finance Ministry and the CBN to formalize fiscal-monetary coordination.
The agreement aims to align assumptions for inflation, GDP, revenue, liquidity, financing needs and the external sector, while preserving the central bank’s operational independence.
The MoU includes more structured information sharing, closer government cash-management coordination and a joint approach to inflation that combines fiscal restraint with measures targeting food, energy and logistics costs.
It also envisages more frequent economic data, including producer prices, employment and productivity indicators, to support the CBN’s transition toward inflation targeting.
Bottom line
Nigeria’s claim that non-oil exports overtook oil exports in Q3 2026 is a potentially consequential turning point for its external sector.
If this photograph is real, who allowed it to leak?... That is HIGHLY irresponsible of whoever did it.
This is supposed to be an alleged confidential meeting and I don't see how this leakage can advance the political image of 'Femi Gbajabiamila who is a Chief-of-Staff of a sitting Nigerian President. Period.
dgr8truth: I see nothing wrong with Desmond Elliot kneeling to apologise. Most Nigerians would probably do the same if placed in a similar situation.
Everybody has an “oga,” and in Nigerian politics, loyalty is often the currency of exchange. No matter how much you have grown or how far you have come, your boss is still your boss.
What is sad, however, is how quickly we criticise people’s actions through the prism of hatred or political bias. We often judge the same action differently depending on who is involved.
You may disagree with Desmond Elliot’s political choices, but kneeling before someone he regards as his political mentor or superior is, in itself, a personal expression of respect, loyalty, or apology. It does not necessarily deserve the outrage being directed at it.
We should learn to separate our political disagreements from our assessment of people’s personal actions. Not everything must be viewed through the lens of hatred or partisan politics.
naptu2: I need to be very honest with you. I have been watching these things for many decades and the people that are talking right now sound very dull to me.
Heads of state, especially executive heads of state, are very busy people. Almost everybody in their country wants to have meetings with them and they can't meet with everybody. Quite often they have to work round the clock with very little sleep. Apart from their official hours, they often need to have political meetings late into the night.
This is why their itinerary is usually prepared months in advance. State visits, audiences, etc usually don't happen on the spur of the moment, they are usually prepared and planned months, even years in advance.
Back in the 1980s the head of state of Nigeria lived at State House Dodan Barracks. However some functions were performed at State House Marina.
I often watched as the head of state (Shagari, Buhari, Babangida) went to State House Marina (the police would close down Cable Street) and new ambassadors would arrive, one after the other and submit their letters of credence to the head of state. Then they would sit and talk with the head of state, take photographs and then inspect the guard of honour on the State House lawn.
It is after this ceremony that their tenure officially begins.
As I said, the head of state is a busy person, so this ceremony was usually done in batches. Usually between 3 to 10 ambassadors would submit their letters of credence in the same morning or afternoon.
That's why people that are complaining or making a big deal about the fact that Reno Omokri or Femi Fani-Kayode have not resumed as ambassadors sound dull to me. It could take many months after an ambassador is appointed by his country before he can submit his letter of credence. It's not a big deal. It depends on the schedule of the host head of state. This is not something new or strange, it is the norm.
We've seen Reno Omokri being hosted to dinner by the Mexican ambassador to Nigeria, so where is the origin of the funny speculation that the Mexican authorities have rejected him? We've seen Femi Fani-Kayode take part in the meeting between the Nigerian and South African foreign ministers, so where does the speculation that he has been rejected by the South Africans come from?
These funny people think that they are scoring points when they are actually making themselves look very dull.
These paid online and offline opposition party lemmings are indeed IRRESPONSIBLE and VERY dull! Those are the paid trolls and young people drumming up support for Peter to become a President based off of massive disinformation as a form of distracting the gullible among the Nigerian masses... That's pure dishonesty tbh.
Thanks as usual @Naptu2 for adding more insights and CLARITY to this issue of Reno Omokri and 'Femi Fani-Kayode's new Ambassadorial roles.
Business › Re: J.P. Morgan To Open Merchant Bank In Nigeria Before End Of 2026 by AlphaTaikun: 1:23am On Oct 10
define free and fair election? Obi won his 5plot region with over 100% vote yet no cry of rigging or inec glitch except in other regions where he was rejected at the polls……how convenient 
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