LEADING investment research firm Renaissance Capital Africa (RCA) has upgraded its valuation of Dangote Petroleum Refinery and Petrochemicals FZE to N700.41 per share, implying a 33.4 per cent upside from the refinery’s IPO offer price of N525 per share. According to RCA, the valuation increase reflects the refinery’s exceptional earnings performance in the first nine months of 2026, driven by stronger refining margins and better-than-anticipated operational results. Revenue, EBITDA and net profit all exceeded the firm’s expectations during the period. In its October 16, 2026, update, titled “Stronger Refining Margins Drive Earnings Outperformance,” the investment firm cited robust refining margins…
Author: National Record
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Offer Emerges As Africa’s First Truly Pan-African IPO DANGOTE Petroleum Refinery & Petrochemicals has announced that its ongoing Initial Public Offering (IPO) has attracted exceptional participation from investors across Africa and around the world, with subscriptions received from more than 90 countries, including investors from 51 of Africa’s 54 nations. The unprecedented level of participation positions the transaction as Africa’s first truly pan-African public offering, reflecting strong investor confidence in African-led industrialization and a growing desire among Africans to own strategic assets built on the continent. The company noted that the IPO has already set new benchmarks in the capital…
NIGERIA has the potential to build a stronger and more efficient health system by harnessing Artificial Intelligence (AI), but this will require sustained investment in people, technology, governance and digital infrastructure, a public health information expert has said. Mr. Bright Ibezim, Unit Head, Health Informatics, Institute of Human Virology Nigeria (IHVN), told National Record that AI could transform healthcare delivery by improving disease detection, supporting clinical decision-making, automating routine documentation and making digital health systems more responsive to patients’ needs. “We have what it takes to build a strong health system using Artificial Intelligence. What we need are the right investments,…
By Max Amuchie LAST time, this column dressed the researcher for the street. It described the Visual Assimilation Protocol, the wardrobe of the worn and unremarkable, and the deep immersion through which a scholar-journalist or researcher may, for a time, become less conspicuous inside a decoupled zone. That idea deserves more than a cliffhanger. A methodology that asks a researcher to live under a borrowed role creates three obligations that cannot be avoided: the role must be disciplined, the researcher must be able to leave, and the deception must be ethically justified. The third is the hardest. I take them in…
The first instalment of this article was published last week. Originally published in December 2021, I feel compelled to republish it now because its concerns about the rule of law, insecurity, and the fear ordinary Nigerians experience remain relevant today. The article serves as a timely reminder of the urgent need to protect citizens, uphold justice, and restore peace and security across the country. THIS IS the second part of our treatise on the rule of law that started last week. The rule of law is about the creation of laws and their enforcement so that no one – including the…
POPE Leo XIV returned to the Vatican on Saturday after being discharged from Rome’s Agostino Gemelli University Hospital, where he underwent surgery on his right lung earlier in the week. The Pope was discharged Saturday afternoon after doctors determined that his clinical condition was satisfactory and that he was fit to leave hospital. Before departing, he thanked Professor Stefano Margaritora, the surgeon who performed the operation, as well as the medical, nursing and other healthcare staff who cared for him during his stay. The Holy See Press Office said the Pope also greeted healthcare staff, Professor Elena Beccalli, Rector of…
THERE is a persistent myth in the development sector that credibility only arrives with scale. Build for a decade, reach millions, and perhaps the recognition will follow. The WeCare Leadership and Impact Mentorship Programme, known as WLIMP, has just decisively dismantled that assumption. The programme has been named Best Youth Social Impact Award at the Nigeria Digital PR Summit, in Lagos state, a recognition that is far more than a trophy for a young initiative. It is a signal that in an era of declining public confidence in conventional development approaches, the most catalytic interventions are often the ones bold…
PRESIDENT Bola Ahmed Tinubu has nominated four national commissioners and two resident electoral commissioners (RECs) for the Independent National Electoral Commission (INEC) to fill vacancies arising from expiring tenures. The nominees will be screened by the Senate for confirmation. This is contained in a statement issued by presidential spokesperson, Mr Bayo Onanuga, on Friday in Abuja. Tinubu also reappointed Dr Bala Bila as the national commissioner representing the North-East. The new national commissioners are Prof. Mustapha Aliu, representing the North-West, and Bashir Umar, representing the North-Central. Aliu will replace Prof. Abdullahi Zuru, while Umar will succeed Prof. Muhammad Adamu. The…
KING Letsie III of Lesotho has warned that nearly 60 per cent of the world’s chronically-undernourished population by 2030 could be living in Africa. King Letsie III, FAO Goodwill Ambassador for Nutrition and African Union Nutrition Champion, also said that hunger affected approximately 307 million people in Africa at the moment. This figure, according to him, represents more than one in five people in Africa. The royal father gave the warning at the 2026 World Food Day ceremony at the Food and Agriculture Organisation (FAO) Headquarters in Rome. The ceremony monitored by the News Agency of Nigeria (NAN) from Lagos…
ON FRIDAY afternoon, the Holy See Press Office released a statement from Pope Leo XIV’s doctors, who said his postoperative recovery continues with steady improvement. Dr. Luigi Carbone and Professor Stefano Margaritora said the Pope “underwent blood tests and a chest X-ray this morning, which confirmed the steady improvement in his overall condition.” They added that “respiratory physiotherapy sessions have continued,” noting that his “postoperative recovery allows him to carry out normal daily activities entirely independently.” The Holy See Press Office said separately that Pope Leo XIV celebrated Mass at noon in the room set up on the 10th floor…