Business
Trailblazing Govs Dauda Aliyu, Nwifuru, Ododo,Mbah,Sani Lights Up 8th NigeriaSMEAwards In Lagos
The 8th edition of the Nigeria Small and Medium Enterprises Summit and Awards (NigeriaSMEAwards), for the first time in its history, will take place in the heart of Lagos. This annual event, endorsed by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), is a key highlight on the nation’s entrepreneurial calendar. It aims to recognize and celebrate the unyielding entrepreneurial spirit that drives both the public and private sectors of the Nigerian economy.
Amid global challenges such as inflation, geopolitical instability, and the ongoing conflict in Ukraine, Nigerians have continued to demonstrate exceptional resilience. Their efforts have not only contributed to job creation but also driven economic growth and prosperity.
The awards will spotlight governors who have played critical roles in boosting the SME sector in their states. “Governors from Zamfara, Sokoto, Ebonyi, Enugu, Ekiti, Benue, and Kaduna have spearheaded transformative initiatives that have greatly benefited local enterprises,” said Adedayo Olalekan, the visionary convener of NigeriaSMEAwards 2025. “Their contributions will be celebrated as a beacon of inspiration for the entire nation.”
During a recent press conference in Lagos, Adedayo emphasized that this year’s event would break away from tradition, embodying a fresh and unique approach. “Despite the harsh economic climate, Nigerians continue to demonstrate an unwavering can-do spirit, propelling the nation forward,” he said.
The awards are not only about honoring these trailblazers but also rewarding their relentless commitment to progress. Adedayo further highlighted the vital role state governments have played in nurturing vibrant SMEs, enriching local economies, and fostering a climate of progress. “It is a win-win for both the awardees and the system they are operating, creating a mutually beneficial cycle of support and growth,” he added.
The NigeriaSMEAwards promises to be a night of celebration, recognizing those who have made exceptional contributions to the country’s SME landscape.
Tinubu Niger Delta summit opens in Port Harcourt as investors and policymakers gather to drive investment, innovation and industrial growth
Dangote Petroleum Refinery has set its initial public offering price at ₦525 per share, with the company seeking to raise about ₦2.15 trillion as it prepares to enter Nigeria’s public equities market.
The Securities and Exchange Commission has approved the offer for 4.1 billion ordinary shares at ₦525 each. If fully subscribed, the offer would generate approximately ₦2.15 trillion, equivalent to about $1.6 billion at current exchange rates.
The offering is expected to open on 14 September 2026, according to Aliko Dangote, the president of Dangote Industries. The planned sale is positioned to become one of the largest equity offerings in Africa.
The IPO marks a significant step in Dangote Group’s plans to broaden ownership of the refinery and raise additional capital for expansion.
The refinery currently has a stated processing capacity of 650,000 barrels of crude oil per day. Dangote has said the company plans to increase that capacity to 1.4 million barrels per day as part of its longer-term expansion strategy.
The planned share sale follows a $1 billion underwriting programme completed in August, providing additional financial backing ahead of the public offering.
The refinery, located in the Lekki area of Lagos State, is one of Africa’s largest industrial projects and has become an increasingly important player in Nigeria’s fuel supply market since beginning operations.
The public offering will give Nigerian investors an opportunity to acquire shares in the refinery directly, while providing Dangote Petroleum Refinery with fresh capital to support its next phase of growth.
The company has also indicated ambitions to expand beyond its current Nigerian operations, with Dangote recently announcing plans for another refinery project in Kenya.
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