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MTN Nigeria invests N1.62 trillion in network infrastructure between 2025 and the first half of 2026, as its profit after tax rose 70.6 per cent to N707.5 billion. The Chief Financial Officer (CFO), MTN Nigeria, Mr Modupe Kadri, disclosed this during an interactive session with newsmen in Lagos in its H1 2026 Mid-Year Catch-Up Presentation. ...
The Central Bank of Nigeria (CBN) says its monetary policies and reforms have started paying off, with inflation dropping to 15.91% in June from 15.93% in May, while both food and core inflation also moderated over the same period. Speaking at the CBN Fair in Bauchi on Thursday, the Acting Director of Corporate Communications and ...
The President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has held discussions with Canada’s Prime Minister, Mark Carney, on opportunities to strengthen investment partnerships and deepen economic cooperation between Canada and Africa. The meeting focused on expanding investment opportunities in Canada and exploring how the Dangote Group, alongside other African investors, can contribute ...
Afri Invoice, an accredited e-invoicing service provider, says it will recruit more than 100 professionals nationwide to support businesses in complying with the mandatory e-invoicing programme of the Nigeria Revenue Service (NRS). The founder and Chief Executive Officer of the company Mr Mark Odenore, disclosed this in a statement on Wednesday in Lagos. Odenore said ...
Oando Plc has recorded a 20 per cent increase in revenue to N2.1 trillion for the half-year ended June 30, driven by higher crude oil production, improved operational efficiency and cost optimisation. The company disclosed this in its unaudited financial results released on Tuesday in Lagos. It also reported an eight per cent increase in ...
Managing Director, AVA Capital Plc, Mr Olukayode Fadahunsi, says the company is committed to bridging the gap between viable investment opportunities and capital to drive business growth and economic development. Fadahunsi stated this at a news conference on Tuesday in Lagos following the company’s recent listing on the Nigerian Exchange Ltd. (NGX). He said the ...
The Minister of Information and National Orientation, Mohammed Idris, on Tuesday expressed Nigeria’s readiness to deepen investment, trade and tourism partnerships with the Kingdom of Saudi Arabia. Idris said this at the 2026 Nigeria–Saudi Diaspora Investment and Tourism Exhibition Summit in Abuja. He said this became necessary as the Renewed Hope Agenda of President Bola Tinubu ...
By Imisioluwa Afunmiso Chairman of First HoldCo Plc, Femi Otedola, has declared that his multi-billion-naira investment in the financial services group is a long term strategic bet on the future of Nigeria's banking industry, insisting that strong corporate governance and disciplined leadership remain the foundation for sustainable growth. Speaking in his first interview since assuming ...
By Precious Mark The Ondo State Government has announced that Presco Plc will invest an initial 200 million Dollars in the state to build large-scale oil palm plantations, a processing mill, and a refinery. The project was disclosed on Friday following a courtesy visit by the management of the agricultural company to Governor Lucky Orimisan ...
By Firdaus Jibril The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has called on African countries to strengthen regional trade, mobilize domestic capital, and invest in artificial intelligence (AI) to build more resilient economies amid changes in the global economic order. Speaking at the 7th Africa Emerging Markets Forum in Abuja on ...
By Taiwo Scholarstica The Founder of Interswitch, Mitchell Elegbe, has charged African technology entrepreneurs to develop solutions that can create lasting value and support economic growth. Speaking at the ICTEL Expo 2026, Elegbe urged African entrepreneurs to pay greater attention to building digital systems that solve real problems instead of focusing mainly on the speed ...
By Precious Mark Senator Solomon Olamilekan Adeola has doled out financial grants of N75,000 each to 3,000 market women and men across the Ogun Central Senatorial District under his 5th Market Women/Men Support Fund Empowerment Programme. Implemented in partnership with the National Productivity Centre, the initiative is specifically designed to strengthen small-scale businesses, improve everyday ...
The Federal Government has described the Dangote Petroleum Refinery and Petrochemicals as a cornerstone of Nigeria’s ambition to build a $1 trillion economy, pledging deeper collaboration with the private sector to accelerate industrialisation, job creation and economic transformation. Minister of State for Industry, Senator John Owan Enoh, made the declaration on Thursday after leading a ...
By Barth Ndubuwah All is now set for the official launch of Solewant Specialty Protective Coating (SSPC) Paint, slated for July 31, 2026, at the company's Industrial Park in Alode-Onne, Rivers State. Addressing journalists on Monday after a pre-launch meeting with stakeholders and partners from academia, the Group Executive Director of the Paint Subsidiary, Mr. ...
The Corporate Affairs Commission (CAC) has commissioned an additional service office at Tafawa Balewa Square (TBS), Lagos, to bring registration and compliance services closer to small business owners and further improve the ease of doing business in Nigeria. Commissioned today by the Registrar-General/CEO, Hussaini Ishaq Magaji, SAN, the new office is strategically established to support ...
A potential super El Niño weather event, driven by warming Pacific Ocean temperatures, could wipe between $10 billion and $20 billion from the economies of Africa's hardest-hit countries while triggering mass displacement, higher food prices, and increased government borrowing, the African Development Bank (AfDB) has warned. Anthony Nyong, the AfDB's Director for Climate Change and ...
The Chartered Institute of Bankers of Nigeria (CIBN) and the Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) have urged banks to increase women focused schemes empowerment and sustained growth through strategic mandates and frameworks, aimed at closing the financial gap and empowering more small, and medium enterprise (MSME) owners. Both organisations made ...
Nigeria’s Minister of Finance and Coordinating Minister of the Economy has inaugurated a specialized Inter-Ministerial Committee tasked with developing a new Value Added Tax (VAT) Modification Order for 2026. The move follows the rollout of the nation's sweeping Tax Reform Acts, which officially took effect on January 1, 2026. Speaking at the inauguration ceremony at ...
By Precious Mark The Budget Office of the Federation has declared that not a single naira was disbursed to the Presidential Economic Advisory Council/Presidential Foreign Intervention Promotion Council (PEAC/PFIPC), despite its N802.9 million allocation in the national budget. Director-General of the Budget Office, Tanimu Yakubu, explained that the entire sum remained strictly untouched inside the ...
United Bank for Africa (UBA) Plc, has reinforced its position as one of the continent's leading financial institutions after emerging as Nigeria's Best Bank for Retail and Sustainability Leadership (ESG) at the prestigious 2026 Euromoney Awards for Excellence. The awards, presented on Thursday, July 17, 2026, at The Peninsula London in the United Kingdom, celebrates banking institutions that demonstrate outstanding financial performance, innovation, customer impact and sustainable ...
The Managing Director of the Rural Electrification Agency (REA), Dr Abba Aliyu, has declared that Nigeria’s decarbonization drive must transcend narrow emission targets and serve as a broader economic strategy to unlock national competitiveness, energy security, and industrial growth. Represented by the REA Executive Director of Corporate Services, Gboyega Ayoade, at the Oriental News Nigeria ...
The Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso has disclosed that the apex bank will be prioritizing post-recapitalisation supervision and inflation targeting in the second half of 2026. Speaking when he recently presented the Bank’s First Half (H1) 2026 Statutory Briefing to the Senate Committee on Banking, Insurance and Other Financial Institutions, ...
First City Monument Bank (FCMB) and 247 Travels have launched Book Now, Fly Later, a financing programme that allows eligible customers to borrow up to ₦10 million for international flight tickets and repay over three to nine months. The programme is designed to help Nigerians spread travel costs for business, education, healthcare, tourism, and family ...
