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The Federal Airports Authority of Nigeria (FAAN) is set to host the third edition of the FAAN National Aviation Conference (FNAC 2025) at the Eko Convention Centre, Eko Hotels & Suites, Lagos.
This year’s conference, themed “Elevating the Nigerian Aviation Industry through Investment, Partnerships, and Global Engagements,” will bring stakeholders together to discuss growth opportunities in the sector.
Chairperson of the FNAC 2025 Organising Committee and FAAN’s Director of Human Resources and Administration, Dr. Emiola Luqman, said the industry is at a defining stage with strong prospects for investment and innovation. She noted that Nigeria’s large population, strategic location, and the Federal Government’s push for infrastructure upgrades and regulatory reforms make the sector attractive to investors.
“FAAN, through FNAC, continues to provide a credible platform for engagement and collaboration. FNAC 2025 will show how far we have progressed and the potential that lies ahead,” she said.
United Nigeria Airlines (UNA) Chairman and CEO, Professor Obiora Okonkwo, says Nigeria cannot achieve its projected $1 trillion economy without a strong and competitive aviation sector.
He made the remark at the Nnamdi Azikiwe International Airport, Abuja, during the airline’s inaugural flight to Accra, Ghana. UNA has begun a daily Abuja–Accra service and four weekly flights from Lagos to Accra.
Okonkwo urged the Federal Government to provide single-digit credit facilities to domestic carriers, saying operators cannot “fly higher” while battling heavy taxes and high-interest commercial loans.
“We don’t want free money. We only ask for single-digit loans for the aviation industry,” he said.
Representing the Minister of Aviation and Aerospace Development, Festus Keyamo (SAN), the Permanent Secretary, Dr Ibrahim Khana, reaffirmed the Federal Government’s support for the sector.
Air Peace Chairman, Allen Onyema, also called for unity among local airlines, noting that alliances like the Spring Alliance will help domestic carriers support one another and deepen competition.
The maiden flight, operated with a CRJ-900 aircraft named after former Ghanaian President Jerry John Rawlings, touched down at Kotoka International Airport, Accra, to a ceremonial water salute.
Managing Director of Ghana Airports Company Limited, Yvonne Nana Afriyie Opare, said UNA’s entry reflects growing confidence in Ghana’s aviation industry and will strengthen business and leisure travel between both countries.
Representatives of the Rawlings family, led by former Ghanaian Minister of Information, Fritz Baffour, thanked the airline for honouring the late leader, describing the gesture as a symbol of the close ties between Nigeria and Ghana.
Nigeria’s real estate market may be entering a recovery phase as economic conditions stabilise, according to a new industry report.
The Nigeria Real Estate Capital Trends Report 2025, published by Estate Intel Limited, shows that key commercial segments such as office and retail are moving out of years of hyper-supply and recession. The report projects that asset values will begin to rise if the economic recovery holds. It also notes that acquisition prices seen in 2024 and 2025 represent the lowest entry point in the next 10-year property cycle.
Recent transactions show capitalisation rates above 10 percent, which is higher than levels recorded through most of the past decade. In Lagos, strong demographic growth continues to drive residential demand. Residential investment has been rising since 2020 with no signs of slowing.
The report states that the office market is usually the first to benefit during periods of economic recovery as businesses expand or enter the market. It adds that the industrial and data centre sectors have enjoyed even stronger conditions.
Nigeria’s data centre capacity has grown rapidly since the COVID-19 pandemic strengthened its position as a resilient asset class. Capacity is projected to rise from 56.1MW in 2025 to more than 218MW by 2030. Major projects include Equinix’s 20MW facility in Alaro City, Airtel’s 35MW Nxtra centre in Eko Atlantic and OADC’s 24MW development along the Lekki Corridor.
The report links the emerging recovery to government reforms aimed at stabilising the economy and restoring investor confidence. The Naira strengthened to N1,422 per dollar at the end of October 2025 in the official market. Foreign reserves increased to 42.1 billion dollars, the highest level since 2019. Inflation has slowed to 18.02 percent. The Nigerian equity market has gained 49.88 percent year to date.
Updated GDP figures place Real Estate Services at 13.3 percent of GDP, making it Nigeria’s third-largest sector after Trade and Crop Production. Real estate and construction together contribute nearly 18 percent of GDP, showing their importance to urbanisation and national investment growth.
Estate Intel Founder and Research Director Dolapo Omidire said the market is responding positively to improving stability. Commercial property transactions rose from 53 million dollars in 2023 to 336 million dollars in 2024. He said the growth was driven by income funds and corporates acquiring headquarters buildings.
He added that Nigerian corporates and owner-occupiers are becoming more active through office acquisitions and new developments. He linked the trend to relatively low asset prices, high construction costs and a desire to avoid high dollar rents in Lagos Grade A offices.
As the year ends, the firm is tracking nearly 50 million dollars in acquisition activity. Omidire cautioned that Nigeria’s opaque property market means full transaction data may not be available until early 2026.
He said the new wave of activity shows that Nigeria is on track to reintroduce its major cities as destinations for international institutional capital.
The National Pension Commission (PenCom) has completed pension payments for all retirees who exited service in November, signalling the end of delays for treasury-funded Ministries, Departments, and Agencies (MDAs).
Head of Corporate Communications at PenCom, Mr. Ibrahim Buwai, told the News Agency of Nigeria (NAN) that reforms and strengthened remittance processes have ensured retirees receive their accrued benefits on time. He added that pensions for December retirees will be paid before the 15th, allowing them to access funds ahead of the festive season.
Buwai attributed the improvement to ongoing pension reforms and the Federal Government’s release of N758 billion in bond proceeds, which helped clear long-standing liabilities, including arrears dating back to 2007. He said the measures show PenCom’s commitment to protecting retirees’ welfare and maintaining trust in Nigeria’s pension system.
The Commission is also stepping up action against employers who fail to remit workers’ pension contributions. A recent MoU with the ICPC empowers the commission to recover unremitted funds, credit them into Retirement Savings Accounts (RSAs), and hold defaulting employers accountable under the law.
PenCom says over 552,000 retirees now receive regular monthly pensions under the Contributory Pension Scheme (CPS), and total pension assets have surpassed N25 trillion, highlighting the sector’s growing contribution to national development. Director-General Ms. Omolola Oloworaran shared the update during a CPS workshop in Yola for employees and pensioners in the North-East.
The latest developments point to a more predictable and transparent pension landscape, reinforcing confidence among retirees, employers, and investors in Nigeria’s contributory pension system.
You know that buzz you get when the World Cup rolls around? That mix of excitement, nerves, and “wait—did that really just happen?” Well, hold on tight, because the 2026 edition is shaping up to be a wild ride. With the tournament expanding to 48 teams—up from 32 in Qatar 2022—there’s more room for surprises, first-time qualifiers, and, of course, some familiar giants strutting back onto the world stage.
Let’s break down exactly who has punched their ticket so far, who’s on the brink, and what the road looks like for the rest of the pack.
Already in: The Teams
As of mid-November, 32 nations have already qualified, including the three hosts—Canada, Mexico, and the United States. Yup, that’s right: North America’s trinity of soccer powerhouses will automatically take their spots, giving fans a lot to cheer about right at home.
Host nations: Canada, Mexico, United States Asia: Australia, Iran, Japan, Jordan, Qatar, Saudi Arabia, South Korea, Uzbekistan Africa: Algeria, Cape Verde, Egypt, Ghana, Ivory Coast, Morocco, Senegal, South Africa, Tunisia Europe: Croatia, England, France, Norway, Portugal Oceania: New Zealand South America: Argentina, Brazil, Colombia, Ecuador, Paraguay, Uruguay Concacaf: None yet, aside from hosts
Some of these nations bring familiar faces—like Cristiano Ronaldo, who’s set to make a record sixth World Cup appearance for Portugal. Others, like Norway, are finally seeing Erling Haaland hit the World Cup stage after years of waiting. Honestly, if you’re a fan of football narratives, these stories alone are worth the hype.
The Edge-of-Your-Seat Qualifiers
Here’s where it gets juicy. Several nations are just a win—or sometimes a miracle goal differential—away from joining the party. These upcoming matches, set for November 17–18, are the ones that could send shockwaves through fans’ living rooms.
A few standouts:
Austria: Hasn’t seen the World Cup since 1998. A draw against Bosnia and Herzegovina could be enough. Can you imagine the celebrations in Vienna?
Belgium: The Red Devils can punch their fourth consecutive ticket with a win over Liechtenstein—or even a draw, depending on other results. Talk about drama.
Haiti: Last appeared in 1974. A win over Nicaragua could finally bring them back to the global stage. Now that’s a story waiting to be told.
Curaçao & Kosovo: Both chasing a first-ever World Cup appearance. If they make it, expect fireworks—and maybe some memes, because social media will not let this go quietly.
Germany: Die Mannschaft might have stumbled earlier in the qualifiers, but avoiding defeat against Slovakia could keep them in the mix. The stakes don’t get much higher than this.
Spain & Türkiye: Spain’s aiming for its 13th consecutive World Cup, while Türkiye needs a mind-boggling 15-goal victory against Spain to make a comeback. I mean, what are the odds?
The rest of the list includes familiar footballing nations like Denmark, Poland, Scotland, and the Netherlands, all poised for potential qualification—if things break their way. It’s a mix of suspense, hope, and strategy that makes following qualifiers almost as thrilling as the World Cup itself.
How Many Spots per Region? Breaking It Down
With 48 teams, FIFA has divvied up the berths a bit differently from previous tournaments:
Host nations (3): Canada, Mexico, United States
Asia (8): Eight teams plus one intercontinental playoff spot
Concacaf (3): Three group winners, plus two runners-up in the intercontinental playoff
Europe (16): Group winners go straight through, second-place teams enter playoffs for the last four spots
Oceania (1): New Zealand confirmed; one more team to the intercontinental playoff
South America (6): Six teams qualified; one in the intercontinental playoff
Intercontinental playoff (2): New Caledonia and Bolivia are locked in for a six-team March 2026 showdown in Mexico
The intercontinental playoff is where things get spicy. Smaller nations like New Caledonia and Bolivia could snag a last-minute ticket to the big stage, and that’s exactly the kind of story fans live for.
What to Watch Over the Next Few Days
If you’re a fan who thrives on drama, the next qualifiers are going to feel like binge-watching a thriller series. Will Germany reclaim its former glory? Can Austria finally celebrate a return after decades? Could Curaçao or Kosovo shock the world with a first-ever appearance?
And let’s not forget the human stories. Erling Haaland stepping onto the World Cup pitch for the first time. Ronaldo’s record-breaking sixth World Cup. Countries returning after decades away. These are the narratives that go beyond stats—they’re about dreams, legacies, and pride.
Why This World Cup Could Be Unlike Any Other
The jump to 48 teams is more than just a numbers game. It opens doors for underdogs, fresh rivalries, and maybe even some Cinderella stories. Expect some unusual matchups, especially in the early group stages, which could make for stunning upsets or at least some entertaining chaos.
Also, with three hosts spanning North America, travel, fan culture, and local enthusiasm are going to add a unique flavor. Picture stadiums packed from Mexico City to Toronto to New York—different climates, different chants, same global passion. Honestly, it’s enough to give any sports fan goosebumps.
In the End…
Whether you’re placing bets, collecting jerseys, or just watching for the love of the game, the 2026 World Cup promises to be a tournament full of stories. From seasoned giants to first-time qualifiers, from heartbreaks to triumphs, every match is a potential memory.
So, grab your snacks, your lucky scarf, and maybe a pen to mark down which teams have qualified. The countdown is on, and this World Cup is shaping up to be one for the history books.
The Nigeria Customs Service, Seme Area Command, has intercepted a lion cub and two patas monkeys allegedly being smuggled into the Benin Republic. The animals were seized during a stop-and-search operation at Gbaji, along the Badagry–Seme Expressway, in the early hours of Sunday.
The command’s Public Relations Officer, Isah Sulaiman, disclosed this in a statement on Monday, noting that the operation reflects the service’s sustained commitment to wildlife protection and Nigeria’s obligations under the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES).
“Operatives of the Command, on Sunday, 16 November 2025, at about 02:19 hrs, intercepted a blue Mazda vehicle with registration number MUS 743 HA during a routine patrol. Upon inspection, the operatives discovered one lion cub and two patas monkeys in the vehicle, in clear violation of national and international wildlife protection laws,” the statement read.
Two suspects—identified as a Beninese national, Mr Mathew Kofi, and a Nigerian, Mr Nasiru Usman Gwandu—claimed ownership of the animals. According to the PRO, the men confessed to purchasing the wildlife in Kano and attempting to transport them to Benin Republic.
“In line with Nigeria’s CITES commitments and global standards on wildlife protection, the endangered animals were immediately confiscated and brought to the command for documentation, while the suspects were detained for further investigation to determine the extent of their involvement in wildlife trafficking,” Sulaiman said.
For proper care and expert handling, the seized animals were handed over to the Greenfingers Wildlife Initiative. The handover was conducted on behalf of the Customs Area Controller, Comptroller Wale Adenuga, by the Deputy Comptroller in charge of Administration, A.Y. Mohammed.
Adenuga reaffirmed the command’s resolve to uphold environmental conservation laws, enforce border security, and collaborate with relevant agencies to combat illegal wildlife trade.
Nigeria ratified CITES in 1974, with the Convention coming into force for the country in 1975. Since then, the nation has strengthened cooperation with other countries—including China—to curb illicit wildlife trafficking and protect endangered species threatened by global demand.
The United States House of Representatives has initiated a comprehensive investigation into alleged targeted attacks on Christians in Nigeria, as concerns deepen over rising religious violence in Africa’s most populous nation.
The House Subcommittee on Africa is expected to hold an open hearing on Thursday, November 20, 2025, to review former President Donald Trump’s recent redesignation of Nigeria as a Country of Particular Concern (CPC) for alleged violations of religious freedom. The designation, if upheld by the Senate, could pave the way for punitive measures, including targeted sanctions against implicated Nigerian officials and restrictions on certain forms of US assistance.
The hearing, scheduled for 11:00 a.m. at Room 2172 of the Rayburn House Office Building and streamed live, will be chaired by Representative Chris Smith (R-NJ). It will feature two panels comprising senior US State Department officials and influential Nigerian religious leaders.
According to the invitation sent to members of the House Committee on Foreign Affairs and sighted by The PUNCH, panelists on the first segment include Jonathan Pratt, Senior Bureau Official in the Bureau of African Affairs, and Jacob McGee, Deputy Assistant Secretary at the Bureau of Democracy, Human Rights, and Labor. A second panel will feature Director of the Centre for Religious Freedom, Nina Shea; Bishop Wilfred Anagbe of the Makurdi Catholic Diocese; and Ms Oge Onubogu of the Centre for Strategic & International Studies.
The congressional review will examine the extent of religious persecution in Nigeria, assess recent attacks blamed on extremist groups, and consider US policy options ranging from sanctions and enhanced humanitarian assistance to deeper collaboration with Nigerian authorities.
Trump’s October 31 designation of Nigeria as a CPC has amplified global debate on the country’s religious tensions. In a statement issued on November 1, the former president alleged that Christianity faced an “existential threat” in Nigeria, accusing “radical Islamists” of killing thousands of Christians. He warned that the US could halt aid or even consider military intervention if the Nigerian government failed to address the situation.
“If the Nigerian Government continues to allow the killing of Christians, the USA will immediately stop all aid and assistance to Nigeria, and may very well go into that now-disgraced country, ‘guns-a-blazing,’ to completely wipe out the Islamic terrorists who are committing these horrible atrocities,” Trump said, directing the US Department of War to prepare for possible action.
President Bola Tinubu swiftly rejected Trump’s claims, describing them as a misrepresentation of Nigeria’s religious reality. In a statement on his official X handle, Tinubu reaffirmed Nigeria’s commitment to religious liberty and described the country’s long-standing culture of interfaith coexistence.
“Religious freedom and tolerance have been a core tenet of our collective identity. Nigeria opposes religious persecution and does not encourage it,” he said.
Nigeria was first designated a CPC in 2020 under the Trump administration, but the designation was lifted by President Joe Biden after he assumed office.
The renewed US scrutiny comes amid continued attacks on Christian communities, including killings, kidnappings, and the destruction of places of worship. Bishop Anagbe, among those set to testify before Congress, recently briefed members of the UK Parliament on March 25, 2025, where he lamented the displacement of communities in Benue State as a result of attacks by extremist groups and militant Fulani herders.
Describing the plight of his diocese, he said: “The militant Fulani herdsmen bear down on defenceless villagers without consequence. They follow orders to conquer, kill, and occupy. They attack even those who have managed to escape into our IDP camps.”
In a separate interview with Fox News, US Representative Riley Moore (R-WV) criticised Tinubu’s dismissal of Trump’s claims, insisting that evidence pointed to ongoing persecution. He referenced blasphemy laws in some Nigerian states and alleged cases of Christians facing the death penalty.
“The deaths we have been able to verify are five to one—five Christians to every Muslim killed in Nigeria,” Moore said, adding that the US had a moral responsibility to intervene.
The debate has also drawn the attention of global religious leaders. On Sunday, Pope Leo XIV expressed deep concern over rising violence against Christians in Nigeria and other countries. In a post on his official X account, the Pontiff noted that worship centres across Nigeria, Mozambique, Sudan, and Bangladesh had come under repeated attack.
“In various parts of the world, Christians suffer discrimination and persecution… Let us pray that all violence may cease and that believers may work together for the common good,” he wrote.
The bill endorsing the CPC designation is currently before the US Senate and is sponsored by Senator Ted Cruz.
As Washington prepares for Thursday’s hearing, Nigeria’s religious landscape faces intense international scrutiny—one that could shape future US–Nigeria relations and the global response to religious persecution.
There’s something fascinating about trying to pin down the actual wealth of a celebrity—especially one as visible, vocal, and globally influential as Davido. People throw numbers around, blogs inflate figures, and fans argue endlessly about who’s richer. But behind all of that noise sits a very real question that executives, investors, policy analysts, and even economists have begun to raise:
What is Davido actually worth, and how does that wealth behave like a financial asset?
It’s a more interesting question than it seems. Because once you look past the flash, past the social media persona, and even past the chart-topping hits, you begin to see something else—Davido, the brand owner. Davido, the enterprise. Davido, the multi-line revenue engine with international exposure, diversified assets, and a long-term economic footprint that behaves a lot like a mid-sized entertainment conglomerate.
And honestly, you know what? The deeper you go into his holdings, the more you realize how misunderstood celebrity wealth is—especially in Afrobeats. So let’s break it down the way real analysts do: assets, liabilities, risk exposure, projected growth, and final valuation. And yes—we’ll mention the widely reported net worth ranges of Wizkid and Burna Boy for context, but the spotlight stays firmly on Davido.
Davido’s $100 Million Empire: The Business Behind the Music
Wizkid is widely reported in the $50 million–$130 million range (sources vary).
Burna Boy is typically placed between $60 million–$95 million.
Again, this article is not about comparisons — but the figures help frame the scale of the Afrobeats economy and why Davido’s valuation matters.
Now, let’s unpack what sits underneath that nine-figure estimate.
THE ANATOMY OF DAVIDO’S WEALTH — WHAT HE OWNS AND WHY IT MATTERS
Davido’s financial base isn’t a single pillar; it’s a portfolio. And it’s that portfolio that makes him economically powerful. Below is a distilled model of his core wealth drivers, built from public reporting patterns, industry economics, and entertainment valuation logic.
Music catalogs are long-term assets. They generate royalties whether the artist is touring or sleeping. Davido’s catalog — with hits like Fall, If, Aye, FIA, and the entire A Good Time and Timeless eras — feeds steady revenue from:
Spotify, Apple Music, YouTube
Publishing royalties
Sync licensing (film, TV, games)
Estimated contribution in valuation models: ~$30 million.
And here’s the thing: Afrobeats streaming is not slowing down. If anything, African catalog valuations are expected to rise sharply over the next decade as global labels chase international footholds.
2. Touring and Live Performances
Live shows are where Afrobeats artists quietly print money. Davido’s U.S., UK, and European tours frequently sell out arenas. Beyond ticket sales, there are:
VIP packages
Logistics partnerships
International festival fees
Corporate concert bookings
End-of-year performance circuits in Lagos, Accra, London, and Dubai
Model estimate: ~$28 million in touring value.
One could argue that this category may grow even faster than streaming because global Afrobeats demand keeps expanding.
3. Endorsements & Partnerships
This is the category most fans see — Puma, Martell Cognac, Infinix, GAC Motors, Wema Bank, and more. Unlike music revenue, endorsements usually pay lump sums or high-value yearly retainers. They’re predictable, renewable, and often tax-efficient.
Model estimate: ~$22 million.
Corporate Nigeria and global consumer brands love Davido because he sits in a unique demographic pocket: youthful enough for trendy brands, grown and influential enough for banks, telecoms, and blue-chip firms.
4. DMW Label & Artist Investments
While most musicians simply earn from their music, Davido owns a label, and that shifts him into a different wealth category. DMW (Davido Music Worldwide) generates revenue from:
Artist royalties
Licensing
Publishing splits
Booking percentages
Catalog growth of signed acts
Model estimate: ~$12 million — and this could appreciate significantly.
If one of his signees becomes a global breakout star, that number jumps instantly.
5. Real Estate & Tangible Assets
These include:
His Banana Island mansion
Reported Atlanta property
Other undisclosed holdings
High-value vehicles (not great investments, but still technically assets)
Model estimate: ~$18 million.
Real estate offers stability, and in an uncertain Nigerian macroeconomic environment, property is a smart hedge.
6. Cash, Liquid Assets, and Equity Investments
This includes:
Cash reserves
Equity stakes in startups
Market investments
Other diversified financial instruments
Model estimate: ~$10 million.
TOTAL ASSET VALUE: $120 MILLION
(Modeled from the detailed breakdown.)
But assets alone don’t tell the whole story. We must subtract liabilities.
This aligns with the most credible public reporting ranges and financial logic.
More importantly, it gives us a clean base for future projections.
THE GROWTH MODEL — WHAT DAVIDO MAY BE WORTH IN 3 YEARS
Using two valuation trajectories commonly used by entertainment analysts:
Scenario 1: Conservative (5% annual growth)
Assumes:
Steady streaming
Normal touring cycles
Regular but not explosive endorsement renewals
Projected 3-year value:~$115.8 million
Scenario 2: Optimistic (12% annual growth)
Assumes:
A global stadium tour
Increased multinational deals
A major catalog revaluation
Strong DMW performance
Projected 3-year value:~$140.5 million
WHY THIS MATTERS — THE ECONOMIC STORY BEHIND THE ART
From a financial standpoint, Davido represents a new kind of African entertainer:
Not just a musician. Not just a celebrity. But a media enterprise, layered with intellectual property, high-margin touring assets, equity stakes, tangible property, and an expanding international market.
Professionals in finance and investment circles increasingly treat Afrobeats stars as:
IP banks
Multi-product brands
Global cultural exporters
Potential equity partners for multinational expansion
Fast-rising participants in the creative economy
And that’s where things get exciting.
Afrobeats is expected to grow faster than most Western genres over the next decade. As streaming, diaspora markets, and global collaborations continue expanding, the valuation of top artists could mirror early-stage tech companies—high growth, high cultural influence, and massive long-term revenue potential.
Davido sits at the center of that momentum.
SO WHAT SHOULD INVESTORS AND EXECUTIVES LEARN FROM HIS PORTFOLIO?
Here are the key lessons:
1. Music alone doesn’t make the money — ownership does.
Catalogs, labels, publishing rights, and equity stakes offer compounding value.
2. Touring is the Afrobeats gold mine.
If an artist can sell out arenas in multiple continents, they possess one of the strongest revenue engines in modern entertainment.
3. Endorsements are more than PR — they’re capital injections.
Brands pay for trust, audience reach, and cultural relevance.
4. Celebrity risk must always be buffered.
Tax exposure, PR issues, legal challenges, and business pressures all require financial padding.
5. Afrobeats is no longer a niche market.
It is now global economic infrastructure — and artists are effectively cross-border enterprises.
FINAL THOUGHT
You know what? When you strip away the online chatter and really look closely, Davido’s financial story tells us something bigger: African entertainment isn’t just competing globally — it’s creating global value. And Davido, with his expanding catalog, international touring muscle, profitable brand partnerships, and ownership in DMW, is one of the clearest examples of a modern African creative entrepreneur.
Whether his true net worth is $95 million, $100 million, or even $120 million depending on how you model it, one thing is undeniable: He is one of the most financially significant African entertainers of his generation, and his valuation will likely continue to rise as Afrobeats cements itself as a global force.
The Nigerian equities market closed the week ending 14 November 2025 with a sharp pullback, shedding 2,511.22 points to settle at 147,013.59, despite notable advances by high-performing stocks such as NCR Nigeria and Aso Savings & Loans.
Although a strong rebound occurred the following day—lifting the market by about N2.6 trillion after the Minister of Finance, Wale Edun, offered reassurances concerning Capital Gains Tax—the recovery could not fully offset the earlier losses, ultimately leaving the market in the red by week’s end.
Trading activity, however, remained exceptionally robust. Investors exchanged 7.32 billion shares worth N156.42 billion across 134,383 deals—well above the previous week’s 3.57 billion shares valued at N107.01 billion.
Consequently, market capitalization dipped to N93.501 trillion, down from N94.99 trillion the preceding week. Despite the downturn, market breadth showed clear improvement:
48 equities gained, a notable jump from the previous week’s 20
45 equities declined, down sharply from 75
53 equities closed flat
While sentiment remained cautious, underlying trading patterns pointed to resilience amid volatility.
Market Performance Summary
The week began on a subdued note, with the All-Share Index sliding 0.46 per cent on Monday. The downturn intensified dramatically on Tuesday following a wave of panic selloffs that dragged the index to 141,327.3, a drop of more than 7,500 points.
By Wednesday, momentum shifted as Edun’s comments eased investor concerns about planned CGT adjustments, prompting a market rally of 2.88 per cent. The positive trend continued through Thursday and Friday, closing the week at 147,115.6, slightly above the final settlement figure.
Sector Highlights
The NGX Premium Index recorded a 2.74 per cent decline, under pressure from losses in major bellwether stocks including:
Dangote Cement (-10%)
First Holdco (-2.06%)
SEPLAT (-1.83%)
MTN Nigeria (-0.42%)
Similarly, the NGX 30 Index slipped 1.73 per cent, while the NGX Main Board Index closed 1.00 per cent lower.
The Industrial Goods Index led the downturn with a steep 6.97 per cent drop, driven largely by declines in:
Dangote Cement (-10%)
BUA Cement (-6.67%)
Mid-cap names such as AUSTIN LAZ, TRIPPLE GEE, and BETA GLASS also contributed to the slide.
The NGX Oil and Gas Index lost 0.85 per cent, weighed down by SEPLAT’s decline.
On the upside, the NGX Insurance Index advanced 2.42 per cent, bolstered by strong gains in:
Cornerstone Insurance
Guinea Insurance
International Energy Insurance
All three rose by more than 9 per cent.
The banking sector also delivered a positive close, with the NGX Banking Index up 1.26 per cent, alongside a modest 0.46 per cent rise in the Consumer Goods Index.
Top Gainers for the Week
The standout performer was NCR (Nigeria) Plc, which surged 32.30 per cent, closing at N25.60. It was closely trailed by Aso Savings and Loans Plc, which recorded a 14.44 per cent weekly gain to finish at N1.03.
Other notable advancers included:
Champion Breweries Plc: +11.54%
International Energy Insurance Plc: +11.48%
Secure Electronic Technology Plc: +10.67%
Cornerstone Insurance Plc: +10.51%
Japaul Gold & Ventures Plc: +9.57%
Guinea Insurance Plc: +9.57%
FTN Cocoa Processors Plc: +9.38%
Legend Internet Plc: +9.13%
Biggest Decliners
The steepest drop came from Union Dicon Salt Plc, which slid 18.71 per cent to N6.30. AUSTIN LAZ & Company Plc also posted a significant decline of 18.62 per cent, finishing at N2.36.
Several noteworthy corporate announcements shaped market sentiment:
PZ Cussons proposed N98m in directors’ remuneration ahead of its AGM.
Zenith Bank Staff Provident Fund acquired N2.3bn worth of the bank’s shares.
Presco Plc launched a N236.67bn rights issue to support expansion plans.
MOFi listed its N1 trillion Series 2 MREIF on the NGX.
Fidelity Bank released H1 2025 results, posting N180.5bn in pretax profit.
Conoil declared a N3.50 final dividend.
FCMB announced plans to raise its capital base to N370bn ahead of a crucial extraordinary general meeting.
Market Outlook
Although equities ended the week in negative territory, analysts say the All-Share Index appears to be gearing up for a rebound toward the 150,000 threshold. A return of strong buying interest in large-cap stocks—which weighed down the market this week—could set the stage for renewed bullish momentum in the days ahead.
Nigeria’s external financing profile continues to draw scrutiny after fresh data revealed that the Federal Government channelled approximately $2.93bn toward Eurobond servicing across eight consecutive quarters under President Bola Tinubu’s administration.
The figures, sourced from the Debt Management Office’s (DMO) external debt-service database, highlight the growing weight of commercial borrowing on the national balance sheet. The report, which covers the period from Q3 2023 to Q2 2025, indicates that Eurobond-related payments alone represented 31.5 per cent of the country’s total foreign-debt servicing obligations of $9.32bn during the two-year span.
One of the most significant revelations is the composition of these payments: interest charges accounted for $2.43bn, or 83 per cent, of the total Eurobond servicing outlay. This means only a fraction went toward paying down the actual debt, underscoring the steep cost of Nigeria’s dependence on high-interest commercial notes.
The data suggests that the country will continue to contend with heavy debt-service commitments for years to come, given the structure and pricing of previous borrowings.
President Tinubu, who assumed office in May 2023, oversaw his administration’s first full debt-servicing cycle in Q3 2023, which was also the most expensive. That quarter, Nigeria settled $943.66m in Eurobond liabilities, including $500m in principal repayment and $443.66m in interest. With total external-debt servicing standing at $1.39bn for the quarter, Eurobonds constituted 67.8 per cent of the entire foreign-debt bill—still the highest proportion recorded since Tinubu came into office.
Eurobond servicing dipped in Q4 2023, since no principal payments were due, leaving the government to remit $148.57m strictly in interest. Despite external-debt servicing totalling $943.17m that quarter, Eurobonds represented a more modest 15.8 per cent.
A rebound followed in Q1 2024, with interest payments climbing to $282.57m, giving Eurobonds a 25.2 per cent share of the total servicing cost of $1.12bn. The upward trend continued in Q2 2024, where Eurobond interest reached $293.73m, accounting for 26.2 per cent of external-debt servicing.
The most notable jump occurred in Q3 2024, a period historically associated with heavy coupon outflows due to Nigeria’s bond structure. Eurobond interest payments surged to $427.72m, representing 31.9 per cent of the total foreign-debt servicing of $1.34bn for the quarter.
By Q4 2024, the pattern mirrored the previous year, with Eurobond servicing cooling to $148.57m, which equated to 13.8 per cent of the total servicing figure of $1.08bn—the lowest share in the two-year dataset.
However, this relief was brief. In Q1 2025, Eurobond servicing again reached $427.72m, matching Q3 2024 levels and amounting to 30.7 per cent of the quarter’s $1.39bn foreign-debt repayment bill. The most recent quarter, Q2 2025, recorded Eurobond servicing of $260.07m—all interest—representing 27.9 per cent of the $932.10m spent on external debts.
Overall, of the $2.93bn expended on Eurobond servicing, only $500m contributed toward reducing Nigeria’s outstanding Eurobond stock. The remaining $2.43bn went strictly to interest obligations.
The DMO data also shows that Nigeria’s Eurobond stock rose from $15.62bn in June 2023 to $17.32bn in June 2025, an increase of $1.70bn—equivalent to 10.88 per cent growth—indicating the country’s deepening exposure to costly commercial debt. Eurobonds now represent 36.86 per cent of the nation’s total external-debt portfolio.
In September, the Federal Executive Council endorsed plans to raise $2.3bn through Eurobond sales as part of the government’s 2024–2025 borrowing programme, alongside an additional $1.1bn for refinancing maturing debts. The National Assembly subsequently approved the plan.
By November, the government had secured $2.35bn from global investors through a dual-tranche Eurobond issuance. The offering—featuring 10-year and 20-year notes with yields of 8.63 per cent and 9.13 per cent respectively—attracted a record $13bn order book, making it Nigeria’s largest yet in international capital markets.
According to the DMO, the issuance saw strong participation from investors across major financial hubs including Europe, North America, the Middle East, and Asia. The bonds are scheduled to be listed on the London Stock Exchange, FMDQ Securities Exchange, and the Nigerian Exchange Limited.
President Tinubu hailed the oversubscription as evidence of robust investor confidence in Nigeria’s reform trajectory. Minister of Finance and Coordinating Minister of the Economy, Wale Edun, echoed this sentiment, describing the outcome as a validation of the government’s economic direction.
DMO Director-General, Patience Oniha, stated that Nigeria’s return to the Eurobond market aligned with its long-term financing strategy to support growth while reducing short-term borrowing pressures.
The proceeds from the issuance are earmarked for the 2025 budget deficit and other government financing requirements. The transaction was arranged by a consortium of global investment banks including Citi, Goldman Sachs, J.P. Morgan, and Standard Chartered.
Analysts say the issuance could help lift Nigeria’s foreign reserves, with CardinalStone projecting a rise to $45bn by end-2025. However, the firm estimates that total debt could reach N166.7tn—about 42.2 per cent of GDP—raising concerns about long-term debt sustainability.
Comercio Partners described the Eurobond issuance as a “positive fiscal signal,” but cautioned that the benefits could be eroded if currency stability falters.
Financial experts remain divided
Olatunde Amolegbe, CEO of Arthur Stevens Asset Management, said Eurobonds offer speed and fewer conditions compared to multilateral loans. He added that borrowing is manageable as long as funds are deployed prudently and repayment is consistent.
Economist Adewale Abimbola said Nigeria’s repayment history and investor confidence mitigate concerns, arguing that Eurobonds remain viable when exchange-rate risks are properly managed.
Research analyst Dayo Adenubi, however, warned that Eurobonds defer principal risk to maturity, increasing the likelihood of serial refinancing—especially when project returns underperform. He referenced Ghana, Sri Lanka, and Kenya as cautionary examples of countries that faced distress after overleveraging on commercial debt.
The National Youth Service Corps (NYSC) has released the official deployment schedule for prospective members of the 2025 Batch C, confirming that call-up letters are now available for download.
According to the update, prospective corps members (PCMs) originally posted to Lagos will have their orientation programmes in Ekiti, Kwara, Ondo, Ogun, and Osun, while those posted to the FCT will attend camps in Kaduna, Niger, and Nasarawa.
The adjustment follows an earlier report, which revealed that only about 40% of registered PCMs can be accommodated in state camps during the upcoming orientation exercise, owing to space constraints across the country’s orientation facilities.
The NYSC also issued a travel guideline, warning PCMs against embarking on overnight journeys while heading to their assigned camps. It reminded them to print and sign all required documents ahead of camp registration, noting that these materials must be presented upon arrival.
The mobilisation timetable also indicates that physical verification for foreign-trained corps members will be conducted from November 9 to 13, while ICT-related processing will run from November 12 to 15. Institutions responsible for producing corps members are expected to facilitate both online and physical distribution of call-up letters between November 16 and 18, during which PCMs are to print their deployment details.
Nigeria’s head coach, Eric Chelle, has sparked widespread debate after alleging that a member of DR Congo’s technical team engaged in “voodoo-like” gestures during the tense penalty shootout that ended Nigeria’s hopes of qualifying for the 2026 FIFA World Cup.
Nigeria were eliminated on Sunday night after a nerve-racking 4-3 penalty defeat in Rabat, following a 1-1 draw across 120 minutes at the Prince Moulay Abdellah Stadium. The loss confirmed that the Super Eagles will miss consecutive World Cup tournaments.
A clip shared by ESPN Africa on X on Monday captured the Nigerian coach speaking to journalists shortly after the match. Chelle claimed he became uneasy during a VAR review for a penalty incident when he noticed the repeated motions of a DR Congo staff member standing near the touchline.
“During every penalty decision, someone from the DR Congo bench kept making some kind of voodoo gesture… over and over,” Chelle said in the video. “That’s why I reacted the way I did. It irritated me.”
When pressed to describe the specific act he observed, Chelle motioned with his hands and said: “Something like this. I don’t know if it was water or something else.”
There has been no independent confirmation to support his claims.
Bizwatch Nigeria earlier reported that Nigeria took the lead just three minutes into the match through Frank Onyeka, before DR Congo equalised in the 32nd minute via Meschack Elia. Both teams battled intensely through extra time, creating chances but failing to score.
The penalty shootout began on a shaky note for Nigeria. Calvin Bassey and Moses Simon both missed their early spot kicks. Stanley Nwabali kept Nigeria in contention with a save from DR Congo’s first penalty, while Akor Adams later scored to keep the Super Eagles alive. But the Congolese converted their fourth kick, sealing a 4-3 win and advancing to the intercontinental playoffs.
Nigeria, who had earlier reached the playoff final after defeating Gabon 4-1 in extra time, saw their qualifying dreams collapse in a dramatic and controversial fashion.
Nigeria’s campaign for a spot at the 2026 FIFA World Cup came to a painful end on Sunday night following a dramatic penalty shootout defeat to DR Congo during their CAF qualifying playoff showdown in Rabat, Morocco.
After a tense 120-minute battle that ended 1-1, the Congolese side secured a 4-3 win on penalties, advancing to the intercontinental playoffs. For the Super Eagles, the outcome means they will miss back-to-back World Cup tournaments.
Nigeria started brightly, with Frank Onyeka converting a well-worked team move in the third minute to hand the Super Eagles an early lead. DR Congo, however, gradually gained momentum and equalised in the 32nd minute when Meschack Elia — who replaced Yoane Wissa — punished Nigeria’s defensive error inside the box after an attempted build-up from the back went wrong.
From that point, the match developed into a cautious affair, with both sides creating intermittent chances. Nigeria’s goalkeeper, Stanley Nwabali, delivered several crucial saves to keep the Eagles’ hopes alive, including a dramatic stop to deny Chancel Mbemba in the dying moments of extra time. Nigeria, on their part, missed a huge opportunity when substitute Tolu Arokodare headed over the bar from close range.
With the stalemate unresolved after extra time, the contest went to penalties, heightening the tension inside the stadium. Nigeria faltered early, with Calvin Bassey firing his effort over the bar and Moses Simon seeing his attempt saved. Nwabali restored some hope by stopping two DR Congo penalties, keeping Nigeria in the contest.
In sudden death, Semi Ajayi stepped up but had his shot saved by Congolese goalkeeper Timothy Fayulu. DR Congo captain, Chancel Mbemba, then sealed the victory by smashing home the decisive penalty, sending the Leopards and their supporters into jubilation.
The result dashed Nigeria’s ambitions of returning to the global stage and compounded the disappointment felt after missing the 2022 World Cup.
Nigeria’s headline inflation rate is projected to fall below the 18% mark in October, as analysts anticipate that the Consumer Price Index (CPI) will maintain its gradual downward movement for another consecutive month.
Ahead of Monday’s official release of the October 2025 CPI report by the National Bureau of Statistics (NBS), Cowry Research has forecast that headline inflation will decline further, settling at approximately 17.83%.
In a detailed market note, the investment research group explained that the anticipated easing is largely influenced by the naira’s continued stability, a more liquid foreign exchange environment, and steady food supply driven by harvest season activities across the country.
Despite the upward price adjustment of petrol motor spirit (PMS) recorded in early October — a development that raised some cost pressures — analysts at Cowry Research noted that the impact on overall inflation should remain small. This is attributed to PMS having relatively low weight within the CPI basket.
According to the firm, the latest estimate aligns with Nigeria’s broad disinflation trend that has been gaining traction throughout the year.
In September 2025, headline inflation slowed to 18.02%, easing from 20.12% in August — the sixth straight month of moderation. The figure came in lower than Cowry Research’s projection of 19.73%, reinforcing expectations that inflation may continue softening towards year-end.
Month-on-month inflation also decelerated slightly, printing 0.72% in September compared to 0.74% in August, reflecting milder price increases across several key spending categories.
Annually, headline inflation was 14.68 percentage points lower than the 32.70% documented in September 2024, the lowest year-on-year inflation reading recorded since May 2022’s 17.71%.
The main contributors to annual inflation remained Food & Non-Alcoholic Beverages (7.21%), Restaurants & Accommodation Services (2.33%), and Transport (1.92%). On a monthly basis, food inflation led the pack once again, adding 0.29%, while restaurants contributed 0.09% and the transport segment added 0.08%.
Food prices saw some of the most significant relief in September. Year-on-year food inflation slipped to 16.87%, down sharply from 37.77% recorded a year earlier, supported by high base effects and increased availability of produce during harvest. Prices of beans, onions, garri, maize, and other key staples fell noticeably. On a monthly basis, food inflation posted –1.57%, compared with 1.65% in August — signalling rare deflation in food prices.
Core inflation also eased, dropping to 19.53% year-on-year, compared to 27.43% in September 2024. Month-on-month core inflation moderated to 1.42%, just below the 1.43% recorded in August. Analysts attributed this trend to a more stable FX market and improved access to dollars, which helped ease import cost pressures.
Market data showed that Bonny Light crude averaged $66.15 per barrel in October 2025, representing a 5.77% drop from September’s $70.20 per barrel.
Meanwhile, PMS prices rose from N865 per litre in early October to N992 per litre by mid-month following supply disruptions attributed to the ongoing PENGASSAN industrial action. Prices later dropped to about N922 per litre as distribution normalised. The temporary spike in petrol prices drove increases in transportation, food services, and hospitality — sectors that are highly sensitive to energy costs.
The naira, however, recorded strong performance in the FX market in October, appreciating by 2.55% to average N1,459.54/$1, compared with N1,497.79/$1 in September. This helped moderate the price of some imported goods, including imported rice, which fell by 0.71% month-on-month.
Cowry Research believes that the persistent cooling of inflation, combined with the Central Bank of Nigeria’s policy rate cut in September, creates room for an additional rate reduction when the Monetary Policy Committee (MPC) convenes in November 2025.
Analysts expect another 50-basis-point cut, citing improving macroeconomic indicators. Although concerns such as policy uncertainties and public commentary may generate slight risks, market watchers remain optimistic that timely interventions will cushion any spillovers.
Nigeria’s cement sector recorded a significant decline last week as sell pressure on Dangote Cement and BUA Cement wiped out more than N1.47 trillion from the combined market value of listed cement firms on the Nigerian Exchange (NGX).
Trading figures show that the two dominant industry players lost a combined N1.520 trillion in market capitalization, overshadowing modest gains recorded by Lafarge Africa.
Market sentiment deteriorated sharply after uncertainty around the implementation of Nigeria’s newly introduced capital gains tax triggered broad selloffs across the equities market. Although the market recovered partially following regulatory clarification, the NGX still closed the week N1.5 trillion lower at a total market value of N93.5 trillion.
Dangote Cement Plc emerged as the biggest loser as its share price fell by 10%, slashing its market valuation by N1.113 trillion. With 16.873 billion outstanding shares, Dangote Cement’s market cap settled at N10.022 trillion—well below its highest level in the past year.
BUA Cement Plc also posted sharp losses, shedding N406.372 billion in market value as its stock price dropped from N180 to N168. With 33.864 billion shares outstanding, the company saw a week-on-week decline of 6.67%, ending the week at N5.689 trillion.
In contrast, Lafarge Africa Plc (WAPCO) saw renewed investor interest despite the overall bearish sentiment. The company’s share price climbed from N131 to N134, adding N48.323 billion in value. Lafarge Africa now stands at a market capitalization of N2.158 trillion, still 13.15% below its 52-week high.
Overall, the cement index closed the week deep in negative territory as investors exited their positions in reaction to shifting tax policies and broader market uncertainty.
Bitcoin (BTCUSD) dropped below the $95,000 mark as bearish sentiment continued to dominate the cryptocurrency market, with investors remaining cautious in the absence of fresh catalysts to spark a rebound.
The pessimism weighed heavily across major digital currencies, with Ethereum (ETHUSD) slipping to $3,095 and Ripple (XRPUSD) falling below $2.20 as widespread selling pressure intensified.
Despite earlier expectations that the reopening of the U.S. government could stimulate a recovery rally, traders appear to have dismissed the outlook, instead continuing profit-taking that has kept markets in negative territory.
CoinMarketCap data shows that Bitcoin declined 1.44% in the past 24 hours, trading around $94.3k with a total turnover exceeding $50.589 billion. Over the last seven trading sessions, Bitcoin’s market value has shed 9%, bringing its valuation to $1.884 trillion.
Ethereum recorded a 12% weekly decline, with its market cap falling to $373.7 billion and daily trading volume hitting $23.5 billion. XRP slid 2.5% to $2.18 on trading activity worth $3.292 billion, losing roughly 6% of its value in one week.
Other major altcoins—including Solana (SOLUSD), Binance Coin (BNBUSD), TRON (TRXUSD), Dogecoin (DOGEUSD), and Cardano (ADAUSD)—also trended lower as the broader market extended its correction.
At press time, the global cryptocurrency market capitalization stood at $3.23 trillion, reflecting a 1% decline in the last 24 hours amid persistent risk-off trading.
Nigeria’s external reserves have climbed to their highest level in six years, with the Central Bank of Nigeria (CBN) confirming a gross reserve balance of $43.535 billion. The uptick, supported by stronger remittances, improved foreign inflows, and steady hydrocarbon earnings, has boosted the country’s usable reserves.
Fresh data from S&P shows that Nigeria’s usable reserves have risen sharply, now providing approximately five months of coverage for current account payments (CAP)—a significant improvement from 3.4 months recorded in 2024. This expanded buffer strengthens the nation’s capacity to manage short-term external obligations without borrowing.
Breakdown of CBN figures reveals that $42.950 billion of the reserves are liquid, while $585.110 million represents blocked funds—down from a peak of $1.002 billion in Q1 2025. Analysts attribute the decline in blocked funds to the central bank’s ongoing FX reforms, which have eased long-standing repatriation bottlenecks for foreign investors.
The improved FX liquidity marks a reversal of the conditions that once led to Nigeria’s removal from the MSCI Index. Multinational firms and portfolio investors seeking to repatriate capital are reportedly receiving more consistent FX support.
As of early November, total gross reserves had risen by $338 million from levels recorded at the end of October. The position was aided by firmer oil receipts, stronger non-oil inflows, and a persistent trade surplus.
S&P data also indicates that Nigeria’s usable reserves increased to $36.042 billion, up from $29.358 billion in 2024. The ratings agency noted that it deducts approximately $8 billion—borrowed domestically through forwards—from its usable reserve calculation. However, short-term FX borrowed from offshore markets is classified as external public sector debt rather than deducted from reserve totals.
S&P projects that Nigeria’s usable reserves will average about $40 billion between 2025 and 2028, up from earlier estimates of $33 billion.
Economic analysts forecast that the external reserve balance could surpass $44 billion in 2025, supported by improvements in oil production and sustained inflows from non-oil sectors.
On the global commodities front, oil prices climbed sharply after renewed Ukrainian drone strikes targeted Russia’s Novorossiysk export hub, raising concerns over fresh supply disruptions. U.S. WTI crude jumped 2.71% to $60.28 per barrel, while Brent crude advanced to $64.54.
Analysts warn of potential additional price increases as U.S. sanctions on major Russian firms Rosneft and Lukoil come into effect on November 21, posing further supply risks.
The Central Bank of Nigeria (CBN) is preparing to issue Nigerian Treasury Bills worth N700 billion across its usual short-term maturities—91-day, 182-day, and 364-day tenors—as investors position ahead of this week’s inflation report.
The auction, scheduled for Wednesday, is expected to attract strong demand, especially as analysts project that headline inflation could ease below the 18% mark. With expectations of a cooling inflation environment, market watchers believe that stop rates on Treasury bills may moderate further.
Fixed income traders anticipate heavy oversubscription, driven by renewed interest in naira-denominated assets. Market appetite for the one-year paper, in particular, is projected to surge as investors seek longer-duration instruments to lock in yields before potential rate adjustments.
Activity in the fixed income market closed the previous week on a bullish note, supported by robust system liquidity. As a result, the average yield across all instruments fell by 35 basis points week-on-week to settle at 19.3%.
Treasury bill yields declined significantly, dropping by 41 basis points to 17.0%, while OMO bill yields slid by 51 basis points to 21.7%, according to analysts at Cordros Capital, who attributed the movement to intensified bargain hunting by investors.
Investor sentiment has already begun to reflect expectations of a disinflationary trend, with the secondary market trading in mixed territory but leaning bullish last week.
AAG Capital noted that demand was particularly strong at the mid-segment of the yield curve. During the week, the CBN conducted an OMO auction featuring mid-tenor bills of 152 days and 173 days.
The 152-day offer closed at a stop rate of 20.59%, with a total allotment of ₦640.15 billion against subscriptions of ₦645.15 billion. Meanwhile, the 173-day paper cleared at 20.69%, with ₦1.91 trillion allotted—below the total subscription level of ₦2.45 trillion.
Total demand at the auction reached ₦3.09 trillion, far surpassing the ₦600 billion on offer, underscoring the intensity of investor appetite for fixed-income securities.
Stitches Africa, an AI-powered e-commerce platform for bespoke and ready-to-wear African clothing, has secured fifty million dollars to scale its operations and support fashion entrepreneurs across the continent.
The financing partnership was led by JF Advisory Group, with Cedius Trustees Limited serving as Custodian and Security Trustee.
In a statement, the company said the funds will support expansion into new international markets, strengthen logistics, and provide designers with both capital and digital tools.
The company, which officially launched in Lagos, said it plans to connect African designers with customers around the world.
It added that the platform is designed to close long-standing gaps in the fashion value chain by combining technology, sustainability, and cultural authenticity.
“The platform allows users to browse, customize, and purchase tailor-made African wear from anywhere in the world using AI-driven body measurement technology. It generates accurate digital fittings for seamless and precise tailoring,” the statement said.
