A total of thirty-nine companies listed on Nigeria’s stock exchange have energized the market, contributing to a considerable increase of N863 billion on Wednesday. The Nigerian Exchange Limited (NGX) saw its market capitalization rise by 0.99 percent on the same day, closing at N88.054 trillion, up from N87.191 trillion the previous day. Additionally, the All-Share…
Transcorp Power Plc has triumphantly announced a substantial 23.3 percent increase in its profit before tax (PBT), reaching an impressive N77.6 billion in the first half of 2025 (H1’25), up from N62.9 billion during the corresponding timeframe in 2024 (H1’24). This noteworthy disclosure was made in its unaudited financial statements released yesterday. The company attributed…
The Nigeria Inter-Bank Settlement System (NIBSS) has proclaimed that the nation’s cashless transactions leaped to an astounding N295 trillion in the initial quarter of 2025, up from a mere N237.11 trillion during the same quarter of 2024. This remarkable growth follows an NIBSS report that unveiled a surge in the number of active bank accounts…
In a significant move, Aliko Dangote, the founder and majority shareholder of Dangote Cement, has announced his retirement from the position of Chairman of the Board. This decision marks a pivotal moment not just for Dangote Cement but for the wider business landscape, as Dangote has been a prominent figure in the industry. Anthony Chiejina,…
The Central Bank of Nigeria (CBN) has decided to keep its benchmark interest rate, known as the Monetary Policy Rate (MPR), unchanged at 27.5%. This decision was made in light of ongoing pressures on the prices of goods and services, as well as persistent global uncertainties. The CBN also reported that eight banks have successfully…
In a surprising twist, Africa’s richest man, Aliko Dangote, has revealed that his flagship Dangote Refinery is importing between 9 and 10 million barrels of crude oil monthly from the U.S. and other nations. This admission comes during the West African Refined Fuel Conference in Abuja, and it raises eyebrows since Nigeria is renowned as…
According to the National Bureau of Statistics (NBS) in its recently published rebased data, Nigeria’s gross domestic product (GDP) increased by 3.13 percent in real terms during the first quarter of 2025 (Q1 2025), up from 2.27 percent in Q1 2024. The Statistician General, Prince Adeyemi Adeniran, announced this in Abuja, explaining that after the…
Nigeria’s food price crisis is far from finished, as farmers have continued to lament the rise in fertilizer prices and input costs nationwide. Most used fertilizers in Nigeria are urea, NPK compound fertilizers, and phosphate fertilizers. Aliyu Kwarbai, a farmer on X, on Sunday bemoaned that a 50-kilogram bag of Diammonium Phosphate fertilizer has soared…
Engr. Gbenga Komolafe, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has emphasized the need for stronger collaboration between the media and the Commission to enhance public understanding of Nigeria’s oil and gas reforms. He made this appeal during the opening of a two-day Strategic Media Workshop tailored for oil and gas…
Nigeria has seen a notable decrease in its headline inflation for June, dropping to 22.22%, down from 22.97% in May 2025. This information comes from the latest Consumer Price Index and Inflation Report released by the National Bureau of Statistics (NBS) on Wednesday. This new figure indicates a month-on-month decline of 0.75% in Nigeria’s overall…
