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FibreOne, a Nigerian broadband provider, has warned that the country’s persistent broadband access deficit is draining an estimated $15 billion from the economy each year. Chief Experience Officer of FibreOne, Yinka Isioye, disclosed this during his keynote address at the 21st Titans of Tech Conference, Expo and Awards in Lagos, themed “Game Changers: Shaping the ...
The Centre for Energy Governance and Accountability (CEGA) has praised the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for securing federal approval for 37 new crude oil evacuation routes, describing the move as a decisive step in tackling oil theft and stemming revenue losses. The commendation followed NUPRC Chief Executive Gbenga Komolafe’s announcement at the 2025 ...
By Matthew Denis The Nigeria Customs Service (NCS) has deepened its international collaboration through a high-level engagement with the General Administration of Customs of China (GACC), aimed at enhancing knowledge exchange and building capacity in customs administration. In a statement signed by Abdullahi Maiwada on Sunday, the NCS confirmed that the meeting, held in Beijing ...
The Bank Customers Association of Nigeria (BCAN) has advised banks to adopt urgent measures to combat fraudulent electronic cash withdrawals from citizens’ accounts in the nation. BCAN President, Dr Uju Ogubunka, gave the advice on Sunday in an interview with news men in Lagos. The advice came following the alert by the Economic and Financial ...
Transnational Corporation Plc has announced a N279.7bn revenue in its H1 unaudited results, showing impressive year-on-year growth, for the period ended June 30, 2025. The Group’s revenue grew by 59% from N175.4 billion in 2024 to N279.7 billion, while profit before tax grew by 21%, to close at N85.7 billion compared to N70.9 billion recorded ...
Aliko Dangote has retired as Chairman and Director of the Board of Dangote Cement Plc, effective July 25, 2025. The move is aimed at allowing him to focus fully on his other strategic ventures, including the Dangote Refinery, Petrochemicals, Fertilizer operations, and government relations, as part of the group’s long-term business vision. During his tenure, ...
Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation Plc, has announced a strong financial performance for the first half of 2025, with a 71 per cent year-on-year increase in gross profit. The company’s unaudited results for the period ended 30 June 2025 reflect a solid market position and the success of its growth strategies. ...
...As NBET validates ₦1.8trn debt claims ...Nigeria attracts over $2bn investment in power sector — Adelabu On Friday, President Bola Tinubu met executives of Power Generation Companies in the country to resolve the lingering N4 trillion debt. The President met with the GENCOs under the aegis of the Association of Power Generation Companies, led by ...
Airtel Africa Plc has announced robust operating and financial results for the first quarter, crediting steady execution of its growth strategy and sustained customer demand across its markets. In its results for the quarter ended 30 June 2025, released on Thursday, the company reported a 9 per cent rise in its total customer base to ...
…Dismisses speculation on further enquiries Nigeria’s apex capital market regulator, the Securities and Exchange Commission (SEC), has confirmed that the N323 billion buyout involving two major shareholders of First Holdco and RC Investment Management met all regulatory requirements and was duly approved. The Commission issued the clarification following reports suggesting that the deal might be ...
Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation Plc has announced its H1 unaudited results for the period ended June 30, 2025 recording an increase of 71% Gross Profit year on year. The latest results show an impressive 60% growth in revenue against the same period in 2024. The period saw the launch of ...
President Bola Ahmed Tinubu has sought the National Assembly’s approval for an extra $347 million external loan under the Federal Government’s 2025–2026 borrowing programme. The request was contained in a letter to the House of Representatives and read by Speaker Tajudeen Abbas during Tuesday’s plenary. According to the correspondence, the additional borrowing stems from increased ...
By Seun Ibiyemi and Olakunle Oke The $2.8 billion Ajaokuta–Kaduna–Kano (AKK) Natural Gas Pipeline project is expected to reach mechanical completion by November 2025, according to the Executive Director of Nigeria Gas Infrastructure Company Ltd (NGIC), Engr. Audu Ibrahim. Providing an update at the NNPC Gas Power & New Energy Directorate’s 2025 AKK Business Development ...
Dangote Sugar Refinery Plc has posted a revenue of N430.21 billion for the first half of 2025, marking a 45.5 percent increase from the N295.62 billion recorded in the same period of 2024. According to its unaudited financial results filed with the Nigerian Exchange, second-quarter revenue rose by 25 percent year-on-year to N216.28 billion, up ...
High interest rates have overtaken insecurity and poor power supply as the biggest constraint facing Nigerian businesses, according to the Central Bank of Nigeria’s (CBN) latest Business Expectation Survey (BES) conducted in June 2025. The survey, which sampled 1,900 firms across key sectors, revealed that interest rates scored the highest on the constraint index at ...
Champion Breweries Plc has reported a profit of N2.3 billion for the first half of 2025, marking a strong turnaround from the N386.7 million loss recorded during the same period in 2024. The company disclosed the figures in a corporate filing with the Nigerian Exchange Ltd, showing a 692% year-on-year growth in profit. Revenue surged ...
By Muyideen Aliyu, Ilorin Kwara State Government has appealed for collective action to advance Nigeria’s industrial revolution, describing it as both a responsibility and a chance for government and local manufacturers to convert untapped potential into tangible outcomes. At the 11th Annual General Meeting of the Manufacturers Association of Nigeria (MAN), Kwara/Kogi States Branch in ...
...As external reserves hit $40.1bn ...Eight banks meet recapitalisation requirements ...Equities maintain rally as MPC holds rates By Seun Ibiyemi and Grateful Ogunjebe The Central Bank of Nigeria (CBN) kept the Monetary Policy Rate (MPR) unchanged at 27.5 per cent on Tuesday, signalling continued caution as inflation slows for the third consecutive month while underlying ...
BUA Cement Plc has announced a significant 90.5 per cent jump in revenue to N867.5 billion for the financial year ended December 31, 2024, compared to N460 billion in the previous year. The company also declared a dividend of N2.05 per share, representing a 94 per cent payout ratio. This was disclosed during its Annual ...
Chairman of Heirs Holdings and United Bank for Africa (UBA), Tony Elumelu, has pledged N25 billion to the ‘Produce for Lagos’ programme a N500 billion initiative launched by the Lagos State Government to tackle food insecurity and ensure long-term access to affordable, nutritious food. Elumelu’s pledge is the single largest private sector support so far ...
The Ogun-Oshun River Basin Development Authority (OORBDA) is accelerating its campaign to curb recurring floods, upgrade irrigation systems, and boost energy infrastructure across Lagos, Ogun, Oyo, and Osun states. According to the Authority’s Managing Director, Dr Adedeji Ashiru, this renewed drive has taken shape since he assumed office in June 2024 and reflects President Bola ...
By Matthew Denis African mining ministers and chief executives of mining companies have pledged to strengthen mineral testing infrastructure across the continent, alongside plans for joint industrial corridors and shared processing facilities. The commitments were outlined in a communiqué released after the fourth edition of the African Natural Resources and Energy Investment Summit (AFNIS), held ...
The Lagos Chamber of Commerce and Industry (LCCI) has appealed to the Federal Government to address the country’s economic challenges in order to deliver meaningful democratic dividends to citizens and businesses. Speaking at the chamber’s third-quarter news conference in Lagos, LCCI President Gabriel Idahosa described Nigeria’s macroeconomic policy environment as being at a crossroads, with ...
