Business News Today, 14 November 2026: Naira at N1,354, Dangote IPO Nears Listing, NGX Up 1.36% for the Week
Last updated: 14 November 2026 · By Naijatipsland Editorial Team · Editorial policy
Morning roundup · Saturday 14 November 2026 · By Ade Adeniyi, Founder and Editor
Good morning. The naira firmed slightly at the official window to end the week, the Dangote refinery IPO moved closer to listing after record demand, and stocks finished the week higher despite a flat Friday. Oil output data and a new export platform round off the business news that matters to your pocket.
Today at a glance
- Naira closes Friday at about ₦1,354/$ officially; street rate around ₦1,430 to ₦1,445.
- Dangote refinery IPO drew about ₦5.85 trillion in bids; allotment approval expected 17 November.
- NGX All-Share Index up 1.36% for the week despite a small Friday dip.
- Crude output met the OPEC quota for a sixth month; Brent ends the week near $96.
- Non-oil exports hit $6.1 billion in 2025; digital export permits go live 14 December.
1. Naira edges up officially, still weaker on the street
What happened
Central Bank of Nigeria data showed the naira closed Friday at ₦1,353.97 per dollar in the Nigerian Foreign Exchange Market (NFEM), slightly stronger than ₦1,355.89 the previous session, with trades between ₦1,350.15 and ₦1,359. On the parallel market, dealer quotes tracked through Friday held at about ₦1,430 to buy and ₦1,445 to sell, while some Bureau De Change quotes in other cities were lower, near ₦1,408. CBN figures put gross external reserves at $54.87 billion at Thursday’s close, down slightly.
Why it matters
The gap of roughly ₦75 to ₦90 between official and street rates matters if you pay school fees abroad, import goods, or receive remittances. Analysts expect year-end dollar demand for travel and imports to keep pressure on the street rate. The official market is closed at weekends, so Friday’s rate carries into Monday. Check our dollar to naira exchange rate today page before you buy or sell.
Source: Market Forces Africa; Okay News; Arbiterz.
2. Dangote refinery IPO nears listing after record demand
What happened
Subscription data reported on Friday show the Dangote Petroleum Refinery offer drew applications worth about ₦5.85 trillion (around $4.3 billion) from nearly 3.8 million investors, close to three times the roughly ₦2.15 trillion target. The company offered about 4.1 billion shares at ₦525 each; applicants asked for some 11.15 billion shares. South Africa’s Public Investment Corporation and Nigerian pension funds reportedly sought close to $1 billion of shares between them. According to Bloomberg reporting cited by BusinessDay and Moneyweb, the Securities and Exchange Commission is expected to approve the allotment on 17 November, with trading possibly from around 8 December, though the company is aiming for earlier. The SEC allows the refinery to keep up to 30 per cent above the base offer.
Why it matters
Because demand far exceeded supply, most applicants will receive only part of what they asked for and get the rest refunded. If you applied, watch for the allotment notice and your refund. The listing would be one of the largest ever on the Nigerian Exchange and could pull money from other stocks as funds rebalance.
Source: BusinessDay; Inside Business; Moneyweb.
3. Stocks end the week higher despite a flat Friday
What happened
The NGX All-Share Index slipped 97.64 points, or 0.04 per cent, on Friday to close at 252,269.16, and market capitalisation fell by about ₦63 billion to roughly ₦163.8 trillion. Breadth was slightly positive, with 22 gainers to 21 losers. Caverton led gainers with a 10 per cent rise; Multiverse Mining, LivingTrust Mortgage Bank and eTranzact led losers. For the week, the index gained about 1.36 per cent from 248,877.22, recovering much of an earlier pullback, and the year-to-date return stands at about 62 per cent.
Why it matters
A 62 per cent gain this year is well above inflation, which helps savers in equity funds and pension schemes. Friday’s mixed trading suggests investors are holding cash ahead of the Dangote listing, so expect some caution in the coming weeks.
Source: THEWILL; Okay News; BusinessDay.
4. Oil: Nigeria meets OPEC quota again as prices ease
What happened
Nigerian Upstream Petroleum Regulatory Commission data released this week show crude and condensate output averaged about 1.69 million barrels per day in October. Excluding condensates, crude averaged 1.51 million barrels per day, just above the 1.5 million OPEC quota, the sixth month in a row Nigeria has met it, though slightly down from 1.53 million in September. Forcados and Bonny were the largest terminals. On global markets, Brent settled at $95.84 a barrel on Friday, down about 2.5 per cent for the week, after the International Energy Agency forecast a return to oversupply this quarter. Separately, Aliko Dangote was reported by OilPrice to have told an industry conference in Lagos that oil and gas firms owe local banks about $7 billion, which he said has paused most bank lending to the sector; he did not name the borrowers.
Why it matters
Steady output above the quota supports government revenue and dollar inflows that help the naira. But softer prices shrink the windfall, and a credit squeeze on local oil firms could slow the drive towards the government’s 3 million barrels per day target for 2030.
Source: Africa.com; IndexBox; Reuters via Euronext.
5. Non-oil exports reach $6.1 billion; digital export permits from 14 December
What happened
The Nigerian Export Promotion Council said non-oil export earnings rose 11.5 per cent to $6.1 billion in 2025, from $5.46 billion in 2024, with volumes up 10 per cent to 8.02 million tonnes across 281 products sold to 120 countries. Speaking at a stakeholder forum in Port Harcourt, National Single Window project director Tola Fakolade said Phase 2 of the platform goes live on 14 December, starting with digital export permits from SON, NAFDAC and the Federal Produce Inspection Service. CBN export processes are to follow in the first quarter of 2027, and end-user training starts on Monday.
Why it matters
Exporters of cocoa, sesame, cashew, processed foods and manufactured goods have long complained about multiple agencies, repeated paperwork and delays at the ports. A single digital window could cut costs and bring in more dollars outside oil, which helps the naira over time. If you export, register for the training now.
Source: ThisDay; BizWatch Nigeria.
What to watch next
- SEC decision on the Dangote refinery allotment, expected 17 November, and a confirmed listing date.
- The NBS release of October inflation figures; September headline inflation was 14.63 per cent.
- Whether the street dollar rate climbs further as December travel demand builds.
- Oil prices next week, with the Trump-Xi-Putin meeting and Hormuz shipping risks in focus.
- National Single Window export training from Monday and go-live on 14 December.
Frequently asked questions
What is the official dollar to naira rate today?
The CBN’s NFEM closed Friday at about ₦1,353.97 per dollar. That rate applies until trading resumes on Monday. Street rates were around ₦1,430 to ₦1,445.
When will Dangote refinery shares start trading?
Reports say the SEC is expected to approve the allotment on 17 November, with trading possibly from around 8 December. The company has not officially confirmed the dates.
Why does Nigeria’s oil output matter for the naira?
Crude sales are Nigeria’s main source of dollars. Higher output brings in more foreign exchange, which helps the CBN supply the market and supports the naira.
This roundup summarises reporting by the outlets credited under each story, in our own words. Follow Naijatipsland Updates on WhatsApp for the next edition. Spotted an error? Tell us and we will correct it under our editorial policy.
