Nigeria’s dealmaking landscape in 2025 reflected a year of strategic recalibration, capital consolidation, and selective big-ticket bets across the economy.
From fintech funding rounds and consumer goods divestments to energy megafinancings, power sector takeovers, and cross-border banking expansions, transaction activity underscored how capital continued to reposition itself around scale, resilience, and long-term growth.
Curated by the Nairametrics Research Team, this power list highlights some of the most consequential mega deals announced or completed during the year.
The selection is not exhaustive and spans multiple sectors, including financial services, fintech, energy, manufacturing, consumer goods, agribusiness, and infrastructure, reflecting the breadth of capital flows across Nigeria’s economy.
Beyond deal size, transactions featured in this list were selected based on their measurable impact on the economy, the level of transparency around deal structure and valuation, and the degree of completion or regulatory clarity achieved within the year. In a market where many large transactions are announced but never consummated, emphasis was placed on deals with verifiable execution milestones.
Energy, infrastructure, and industrials dominated the upper end of the deal spectrum. African Export-Import Bank anchored a $1.35 billion refinancing for Dangote Industries’ refinery, Transgrid acquired a controlling stake in Eko Electricity Distribution Company for N360 billion, and major exits in power and oil, and gas reshaped ownership across strategic assets.
Together, these transactions highlighted where long-term capital was committed decisively in 2025.
What follows is Nairametrics’ curated list of top mega deals of the year—transactions that stood out not just for their headline numbers, but for their execution, economic relevance, and lasting influence on Nigeria’s corporate landscape.
Deal size-$53 million
In January 2025, remittance-focused fintech LemFi secured $53 million in a Series B funding round to accelerate its European expansion. The round was led by London-based growth-stage investor Highland Europe, with participation from existing backers Endeavor Catalyst, Left Lane Capital, Palm Drive Capital, and Y Combinator, bringing LemFi’s total funding to $85 million.
The Lagos-founded company, which serves African immigrants across 22 countries, planned to use the capital to broaden its service offerings, strengthen payment network licenses, and deliver hyper-localized solutions.
The European push followed a partnership with Modulr and the acquisition of an Ireland-based firm, enabling LemFi to commence independent operations ahead of its anticipated European license next month.
Founded in 2019 by Nigerian Ridwan Olalere and European Rian Cochran, LemFi employed over 300 staff across Europe, North America, Africa, and Asia, with fresh hiring expected to support rapid growth.
