business
Okomu Oil’s Profit Skyrockets 113% to N60.33Billion in Nine Months on Revenue Surge Okomu Oil Palm Company Plc, a major player in Nigeria’s agro-industrial sector, has reported a spectacular financial performance for the nine months ended September 30, 2025, with its Profit After Tax (PAT) soaring by a massive 113% year-on-year to N60.33 billion. This […]
Enugu Residents to Endure 10-Day Power Outage Starting Wednesday Due to TCN Repairs Residents of the Enugu metropolis are set to experience a 10-day power outage as MainPower Electricity Distribution Limited (MEDL) has announced a significant supply interruption to allow for major maintenance work on the transmission network. The planned power cut, announced yesterday, Monday, […]
Great Nigeria Insurance Reverses N736M Loss to Post N2B Profit, Fueled by Massive Investment Income Great Nigeria Insurance Plc (GNI) has announced a dramatic financial reversal, moving from a loss position of N736 million in 2022 to record a robust Profit After Tax (PAT) of N2 billion for the 2023 financial year. The company’s chairman, […]
‘Professional’ Thieves Steal Priceless Napoleonic Jewels From Louvre’s Crown Gallery in 7-Minute Daylight Raid In a daring and meticulously planned operation, a team of masked thieves successfully executed a daylight robbery at the world-famous Louvre Museum on Sunday morning, making off with eight pieces of the priceless French Crown Jewels collection. The audacious heist, which […]
Soaring Gas Cylinder Costs Force Households Back to Firewood, Undermining Clean Cooking Goals The Managing Director of Eterna Plc, Mr. Olumide Adeosun, has issued a sharp warning that Nigeria’s aspiration for clean cooking may be derailed due to the prohibitive cost of Liquefied Petroleum Gas (LPG) cylinders for consumers. This high barrier to entry, he […]
Ex-Executive Director Recants, Tells Court Arik Air’s Multi-Billion-Naira Loan Was ‘Non-Performing’ Before His 2015 Exit The ongoing N76 billion fraud trial involving former Asset Management Corporation of Nigeria (AMCON) Managing Director, Ahmed Kuru, took a new turn after a key prosecution witness, Mr. Muhammed Abbas Jega, an ex-Executive Director of Credits at AMCON, recanted his […]
RMB Nigeria Asset Management Clinches ‘Fastest Growing Asset Manager of the Year’ at Prestigious 2025 BAFI Awards RMB Nigeria Asset Management Limited, the wealth and asset investment management arm of the FirstRand Group, has been honoured as the Fastest Growing Asset Manager of the Year at the highly coveted 2025 Banks and Other Financial Institutions […]
Global Surveyors Body Lauds Governor Oyebanji for Launching Ekiti’s Geospatial Revolution in Land Administration Ekiti State Governor, Mr. Biodun Oyebanji, has been distinguished on the international stage, receiving effusive praise from the International Federation of Surveyors (FIG) for his visionary approach to reforming land administration in the state. The commendation was delivered by the Chairman […]
EU Greenlights €190 Million Credit Line to Nigeria to Boost Climate-Smart Agriculture and Agri-Business Lending Nigeria’s critical agricultural sector is set for a substantial financial injection, as the European Union (EU) has approved a €190 million (approximately N320.5 billion) credit line through the European Investment Bank (EIB). This financing is specifically designed to expand lending […]
Dangote Cement Unveils Massive $160M, 3 Million Tonne Plant in Côte d’Ivoire, Bolstering West African Industrial Footprint Dangote Cement, a subsidiary of the pan-African conglomerate Dangote Group, has officially commenced operations at its new, state-of-the-art production plant in Attingué, Côte d’Ivoire. The launch of the facility, which represents a strategic investment of approximately $160 million […]
FX Floodgates Open: Naira Surges to 10-Month High as CBN Reforms Trigger Massive Investor Confidence The Nigerian Naira has hit a significant milestone, strengthening to a 10-month high against the US dollar in the official Nigerian Foreign Exchange Market (NFEM). This latest surge is a direct consequence of sustained and strong foreign exchange (FX) inflows, […]
First Lady Oluremi Tinubu Delivers 21 Brand-New Shuttle Buses to OAU in Fulfilment of Key Campus Safety Pledge The Obafemi Awolowo University (OAU), Ile-Ife, is celebrating a major upgrade to its internal transportation system following the delivery of 21 brand-new shuttle buses donated by the First Lady, Senator Oluremi Tinubu. The donation, which was announced […]
Nigeria’s Total Public Debt Hits Record ₦152.4 Trillion, Driven by Naira Depreciation and Massive Fiscal Deficits The Nigerian Economic Summit Group (NESG) has issued a sobering assessment of the nation’s fiscal health, revealing that Nigeria’s debt stress has reached its highest level on record. According to findings from the group’s newly introduced Debt Burden Index […]
FG, MOFI Finalize Roadmap with Flutterwave to Power Trade and Financial Inclusion Nigeria has taken a significant step toward accelerating its digital economy, with the Federal Government (FG) and the Ministry of Finance Incorporated (MOFI) concluding a strategic meeting with Flutterwave Technology Solutions Limited. The high-level talks focused on forging a robust partnership to expand […]
Kogi State Flags Off Rehabilitation of Nine Livestock Markets to Boost Economy, Meet Global Standards Kogi State has officially launched a major initiative to rehabilitate nine livestock markets across its three senatorial districts, marking a significant step towards modernizing the state’s agricultural sector. The project, overseen by the Kogi State Livestock Productivity and Resilience Support […]
Insurance Experts Express Concern Over NAICOM’s Ban on Coinsurance Between Takaful and Conventional Firms The Nigerian insurance industry is currently facing a regulatory shockwave as the National Insurance Commission (NAICOM) introduces a ban on coinsurance arrangements between Takaful operators and Conventional insurance companies, a move which industry experts are reportedly faulting. The directive, contained in […]
MURIC Urges NAICOM to Withdraw Circular Banning Co-insurance Between Takaful and Conventional Insurers The National Insurance Commission (NAICOM), Nigeria’s insurance regulatory body, is currently facing pressure from the Muslim Rights Concern (MURIC) to rescind a recent circular prohibiting co-insurance arrangements between Takaful and conventional insurance companies. The circular, titled “Prohibition of Coinsurance Arrangements Between Takaful […]
₦5 Billion ‘AgroCity Doma’ Takes Off in Nasarawa: LBRBDA, Amisec Partner to Establish 1,000-Hectare Organic Sesame Value Chain In a major boost to agricultural industrialisation in Nigeria, the Lower Benue River Basin Development Authority (LBRBDA) and Amisec Industrial Company Limited have finalised a Public-Private Partnership (PPP) agreement to establish “AgroCity Doma,” a landmark project located […]
Kwara Creative Economy Booms as Sugar Factory Film Studios Unveils Maiden Movie ‘Ajuwaya Series’ with N350m First Lady Grant Kwara State Governor AbdulRahman AbdulRazaq is elated over the successful unveiling of the maiden movie, “Ajuwaya Series,” produced by the state-owned Sugar Factory Film Studios. The Governor hailed the project as a major milestone for the […]
Nigeria’s NDLEA and Experts Engage in Critical Dialogue Over Medicinal Cannabis Oil Legalisation A high-level stakeholders’ workshop in Abuja, organised by the Nigerian Academy of Science (NAS), has brought the contentious issue of legalising cannabis oil for therapeutic use into sharp focus, with regulatory bodies and scientists engaging in an evidence-based dialogue. The workshop, themed […]