Business
UBA Launches Positive Innovation Hub at UNILAG Campus
UBA Unveils UNILAG Innovation Hub launched as United Bank for Africa opens a renovated facility and funds research collaboration at the University of Lagos
United Bank for Africa Plc has inaugurated a renovated four-storey business office and innovation hub at the University of Lagos (UNILAG), strengthening its long-standing partnership with the academic institution in Lagos, Nigeria.
Also read: UBA Pushes Healthcare Sector Investment at ANPA America Event
The new facility is expected to serve more than 80,000 customers within the university community, offering expanded banking services alongside innovation-driven support for students and staff.
Speaking at the unveiling ceremony, UBA Group Managing Director, Oliver Alawuba, described the project as a landmark development that reflects the growing collaboration between the financial sector and higher education in Nigeria.
Alawuba noted that UBA established its first branch at UNILAG in 1969, adding that the new development represents a continuation of a decades-long relationship between both institutions.
He emphasised that the partnership would extend beyond traditional banking services into education and innovation support.
The bank also announced a N60 million donation towards the UBA Professorial Chair in Finance Research at UNILAG, aimed at strengthening academic research and promoting industry-based collaboration.
UNILAG Vice-Chancellor, Professor Folasade Ogunsola, described the project as a powerful example of private sector involvement in educational development, stating that the initiative goes beyond infrastructure and represents meaningful institutional cooperation.
Professor Adedoyin Lawal, who holds the UBA Professorial Chair in Finance, said the programme would focus on research, mentoring, curriculum development and fintech-driven learning.
He added that efforts had already begun to integrate financial technology courses across undergraduate and postgraduate programmes.
Also read: UBA Business Series Promotes Women’s Enterprise, Leadership
The development is expected to deepen industry-academic ties and equip students with practical skills aligned with evolving financial and technological trends.
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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