Monday Briefing

‎🇳🇬 Nigeria - lead story today
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‎Dangote Refinery IPO signing happening today in Lagos. The Dangote Group will sign documents for its refinery IPO at a ceremony at Eko Convention Centre around 12:00 noon WAT (1100 GMT). It's being called Africa's biggest-ever share sale.
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‎The IPO could raise about 2.15 trillion naira ($1.63bn) by selling 4.1 billion shares at 525 naira per share.
‎The order book is set to open September 14.
‎The 650,000 bpd refinery, built for about $20bn on the outskirts of Lagos, has been exporting jet fuel across Africa and Europe.
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‎Also in Nigeria:
‎Emirates restarts Lagos flights today, September 7, and Abuja from September 9.
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‎Newspaper roundup: Manufacturers Association of Nigeria says Q2 GDP growth of 4.43% is masking industrial crisis, and UN envoy Ambassador Jimoh Ibrahim dismissed claims President Tinubu could face arrest in the US.
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‎🌍 World
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‎1. AI existential risk warning: UN rights chief Volker Turk told the Human Rights Council in Geneva today that AI could become powerful enough to threaten humanity, calling for “cast iron guarantees” on safety.
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‎2. Middle East: Israeli strikes on a southern Lebanese town early this morning killed at least 11 people including two children and two medics, per Lebanon's state news agency.
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‎3. Europe:
‎Germany's industrial production fell 1.1% in July, driven by a 9.2% drop in auto production — analysts had expected a rise.
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‎Serbia's government will propose dissolving parliament later today for a snap election this year.
‎London and European stocks were muted — oil up after fresh US-Iran attacks is stoking inflation fears. The pan-European STOXX 600 fell 0.1% early.
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‎4. Markets to watch this week:
‎US Fed decision Sept 15-16: traders pricing ∼58% chance of a hike ahead of Friday's CPI.
‎ECB expected to hike on Thursday, Bank of Japan expected to hike Sept 18. Yen hit a 7-month high today.
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‎5. India: Rescue operations continue after a building housing a boys' PG near Delhi University's South Campus collapsed Sunday. Delhi High Court agreed to hear a PIL today.

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