AfCFTA: Nigeria waives duties on 90% of goods traded in Africa • Gazettes PSTCs, becomes 23rd AfCFTA state party to comply Reinforcing Nigeria’s commitment to regional trade expansion, President Bola TinRead More
Business Gists
Guinean Envoy Woos Nigerian Businesses With $20 Billion Mega ProjectsThe Republic of Guinea is inviting Nigerian businesses to participate in a series of ongoing mega projects worth an estimated $20bn. The call was made by the GRead More
Seplat is fastest growing Nigerian independent energy company Energy TimesNigeria’s foremost energy sector publication, Energy Times Newspaper, has named Seplat Energy Plc as the Fastest Growing Nigerian Independent Energy CompaRead More
Creator economy in Africa hits $3bn, to reach $17bn by 2030In the past few years, the creator economy has grown rapidly, moving from a niche trend to a global force. Digital platforms have made it easier for individuals to turn Read More
Nigeria dawdles on $5b Africa Energy Bank take - Off nine months after The federal government on Thursday reaffirmed its commitment to the early commencement of operations of the $5 billion Africa Energy Bank (AEB), aRead More
Olugbemi. Adeyinka Ogunleye
Tough call, but the money will come...
2025: Geregu Power pre-tax profit declines by 40.58% in first quarterGeregu Power has reported pre tax profit of N13.014 billion for the first quarter financial year ended March 31, 2025. The amount reflecting a drop of N8.89 biRead More
Traditional ride-hailing platforms frequently dictate pricing through fixed estimates and the often-unpredictable surge pricing model, leaving both drivers and riders with notably limited control over costs.inDrive is changing tRead More
Nine banks rake N922.5bn in fees as customers decry rising chargesSOME of Nigeria’s largest commercial banks earned a combined N922.5 billion ($589 million) from net fees and commission charges in 2024, marking a 60 percenRead More
Cognac producer Fillioux targets Nigeria, Asian markets as Trump tariffs upset industryAmid escalating trade wars that threaten France’s historic cognac industry, fifth-generation producer Christophe Fillioux is forging new pathRead More
The Minister of the Federal Capital Territory, Nyesom Wike, has officially unveiled the Utako Farmer’s Market, Abuja.The facility which is Nigeria’s first evergreen solar-powered market, was developed on 3,000 square meters of lRead More
Nigeria reacts to Trump’s tariffs, avoids retaliationIn her statement, Ms Oduwole highlighted that Nigeria's major export to the US was oil and other mineralsThe Nigerian government has avoided retaliation on the 14 per cent tarRead More
Dangote Industries pledges its Petroleum Refinery will drive development of ancillary industries across NigeriaDangote Industries Ltd. has pledged that its petroleum refinery will drive the development of ancillary industries inRead More
Amid tensions in Africa, France moves to end diplomatic rift with Algeria France and Algeria have agreed to renew cooperation across all sectors, marking a significant step toward normalizing bilateral ties after a prolongRead More
Transcorp Hotels To Expand Portfolio Investments.Transcorp Hotels Plc has revealed plans to expand its portfolio investments as part of efforts to boost revenue generation and efficient hospitality service in the country. ChairmRead More
Totalenergies Reports 140.35% Surge In Profit As Revenue Surpasses ₦1 TrillionTotalEnergies Marketing Nigeria Plc has published its audited financial report for the period ended 31 December 2024, reporting a pre-tax profit of N4Read More
Sterling Bank Leads Protest for Removal of Bank Transfer Charges In a landmark move that sets a new benchmark for customer-focusedbanking in Nigeria, Sterling Bank has championed the cancellation of bank transfer fees by maRead More
JP Morgan eyes opening full business branch in NigeriaAmerican Bank, JP Morgan, is planning to transform its representative office in Lagos into a fully-fledged business branch.According to a report on Africa Intelligence, the mRead More
Bode Maxwell-Akinyemi Leaves Vatebra to Explore New OpportunitiesOlabode Maxwell-Akinyemi, fondly known as Bode, has announced his resignation as Business Manager of Vatebra Academy at Vatebra Limited, effective March 3, 2025. VRead More
Cadbury Nigeria reports N28.3bn pre-tax loss for 2024 despite 60% revenue growthCadbury Nigeria Plc has published its audited financial results for the year ending 31 December 2024, reporting a pre-tax loss of N28.3 billion, shoRead More
BUA Foods declares Final Dividend of N13.00 per share for registered shareholdersBUA Foods has announced a final dividend of N13.00 per ordinary share of 50 Kobo each, payable to shareholders listed in the Register of Members asRead More
JP Morgan Plans Entry into Nigeria, to Acquire Merchant Bank LicenceJP Morgan is set to expand its footprint in Nigeria by converting its Lagos representative office into a fully operational business branch.This development was Read More
Nigerian Billionaire, Adebayo Ogunlesi, Leads Blackrock’s $23bn Panama Canal DealMonths after President Donald Trump had been hammering Panama over its most valuable asset, the Panama Canal, an investment group led by BlacRead More
5 Key Investment Strategies To Learn Before TradingChoosing a stock market strategy that fits your portfolio objectives and skills An investment strategy is a set of principles that guides your portfolio decisions. With seeRead More
Zenith Bank maintains impressive track record as PBT hits N1.3 trillion, proposes N4.00 final dividendZenith Bank Plc has announced its audited financial results for the year ended December 31, 2024, delivering significant growthRead More
MAN: Dangote Polypropylene Production to Revive Textile Industry, Save Nigeria $267m The Manufacturers Association of Nigeria (MAN) has stated that the production of polypropylene by the Dangote Petroleum RefineRead More
How to Start a Business While Working Full-Time (Without Making Costly Mistakes)More Americans are taking on second jobs as the cost of living rises. In late 2024, the share of U.S. workers with multiple jobs hit 5.3% of the worRead More
Nigeria facilitates $14bn investment with IndiaThe Minister of Foreign Affairs, Yusuf Tuggar, has disclosed that Nigeria has secured about $14 billion in investments from India across multiple sectors.Tuggar disclosed this on ThRead More
Every great business has a story, just like every great sports team. Some teams are built on raw talent, others on smart strategy, and the best ones combine both. That’s exactly how Nikolay and Vladimir Fartushnyak built their bRead More
FAAC Disbursements To FG, States, LG Jumps By 43% To N15tn In 2024 The committee disbursed N15.26 trillion to the three tiers of government in the year under review.The Federation Accounts Allocation Committee (FAAC) disburRead More
Nigeria Could Be The Next Turkey' - Foreign Investors Hail Economic Turnaround Bet on Nigerian recovery draws investors seeking to dodge trade warsAfrica’s most populous country among former crisis-hit economies attracting fRead More
Sources: FG awards Lagos ports renovation contract to Chagoury GroupThe federal government has awarded a contract for the renovation of two major Lagos ports — Tin Can and Apapa — to Chagoury Group, TheCable understands.ChagouryRead More
Dangote announces plans to develop Nigeria’s largest port in OgunThe President of Dangote Group, Alhaji Aliko Dangote, has announced plans to develop Nigeria’s largest port in the Olokola Free Trade Zone, Ogun State. He made theRead More
Okomu national park, ANI investor partner on boosting conservation Okomu National Park Service (NPS) in Edo State has partnered with the Africa Nature Investors (ANI) foundation as part of efforts to boost conservation and Read More
Benjamin Onigbinde, the Chief Executive Officer (CEO) of Sigvent Industrial Cluster Limited, has said the plan of the company is to build the largest industrial cluster in Africa in Ogbomoso.Onigbinde stated this while receivingRead More
TOP five publicly listed companies in Nigeria have reported a combined foreign exchange (FX) loss of N1.7 trillion in their Full-Year 2024 financial results, surpassing the losses recorded in 2023. They are: MTN Nigeria, DRead More
Over 7m small businesses shut down in 2 years — NESG The harsh economic environment led to the closure of about 30 percent of Micro and Small Medium Enterprises (MSMEs) in Nigeria, amounting to about 7.2 million of the countRead More
Minister: Nigeria has secured $50bn investment commitments from Tinubu’s foreign tripsJumoke Oduwole, minister for industry, trade and investment, says President Bola Tinubu’s foreign trips have accumulated $50.8 billion in propRead More
Port of Dubai operator seeks approval to build industrial park at Nigerian ports Dubai-based DP World, operator of the Port of Dubai, has proposed establishing an industrial park at Nigerian ports to enhance export processiRead More
Kogi free trade zone takes off with major Chinese investment The Kogi State government has secured an agreement with the People’s Republic of China for the takeoff of the Kogi Hunan Special Economic Zone, with the status oRead More
$700m Delta Steel Company sold for $30m - BPE DGThe Director General of the Bureau for Public Enterprises, Ayodeji Gbeleyi, on Friday, revealed that Delta Steel Company, valued at over $700m, was sold for $30m. Gbeleyi statRead More
Billionaire Femi Otedola’s brother, Rotimi sells N4.6 billion Geregu shares Olurotimi Otedola, the founder of the Afrinero music band and the brother of Nigerian billionaire Femi Otedola, has sold shares in Geregu Power PlcRead More
Olugbemi. Adeyinka Ogunleye
Is there a fight in the family? or why sell when the company is doing great at the moment?
Coca-Cola To Process 13,000MT Plastic Bottles Yearly At New Packaging Collection HubCoca-Cola has opened a new Packaging Collection Hub in Lagos, Nigeria, with the capacity to process up to 13,000 metric tons of plastic bottles Read More
Oando revenue hits N4.1tnOando Plc reported a 45 per cent increase in revenue to N4.1tn for the financial year ended December 31, 2024, compared to N2.9 trillion recorded in the previous year.The company’s unaudited financial stRead More
Nigeria’s Non-Oil Exports Hit $5.46 Billion In 2024 - NEPC The Nigerian Export Promotion Council has announced a remarkable 20.79 per cent increase in the value of the country’s non-oil exports, reaching a total of $5.456bnRead More
Bento CEO’s resignation leaves investors in the dark amid EFCC, LIRS probeInvestors in Nigerian HR-tech startup Bento Africa were shocked at CEO Ebun Okubanjo‘s abrupt resignation, relinquishing his stake in the company without Read More
Bento CEO resigns, amid EFCC, LIRS probe; gives up equityEbun Okubanjo, CEO of Bento Africa, a Nigerian payroll and human resource management platform, has resigned amidst allegations of failing to remit taxes and pensions on beRead More
Guinness Nigeria reports N20 billion profit, 6 months after Tolaram takeoverGuinness Nigeria Plc released its second-quarter earnings, revealing a pre-tax profit of N20.1 billion for the period ending December 31, 2024. This marRead More
First Banks former CEO Onasanya refutes role in alleged N12 billion fraudA one-time managing director of First Bank of Nigeria Plc (now FBN Holdings) Bisi Onasanya has denied playing a role in the alleged N12.3 billion advanced fRead More
The Organisation of the Petroleum Exporting Countries (OPEC) says the production of petroleum products by the Dangote Petroleum Refinery has reduced the importation of refined products from Europe.In its Monthly Oil Market ReporRead More
First City Monument Bank (FCMB) has announced the appointment of Felicia Obozuwa as its Executive Director, Corporate Services and Service Management.The appointment of Obozuwa followed approval from the Central Bank of Nigeria Read More
First Bank, Otedola Vs Obaigbena: Oil Vessel Owned By General Hydrocarbons Seized «First Bank is battling Mr Obaigbena over some credit facilities, which the bank claimed has missed several repayment deadlines.The legal battle bRead More
Wale Tinubus Bold Path for OandoLast year, Oando Plc celebrated 30 years of phenomenal growth in the Nigerian oil industry, setting the stage for its future. As the company is set to unveil its plan for the next journey, analystRead More
Nigeria’s Largest Palm Oil Maker To Raise Record ₦100 Billion BondPresco Plc, Nigeria’s biggest palm oil maker, is set to raise N100 billion in Series 1 of its N150 billion bond programme. This would mark the largest corporate Read More
NDDC Announces ₦30 Billion Fund For Young Entrepreneurs In Niger Delta The Niger Delta Development Commission (NDDC) has announced a N30 billion fund aimed at fostering young entrepreneurship in the Niger Delta region.In aRead More
Nigeria’s Pharma Boom: Positioning In A New Era Of Growth IntroductionNigeria’s pharmaceutical industry is at the cusp of a major transformation, fuelled by rising healthcare demand, innovative local players, and emergent govRead More
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