News Press

The elite cohort of companies listed on the Nigerian Exchange (NGX) with valuations exceeding one trillion Naira, known as SWOOTs, reported a record N27.448 trillion in capital gains for the first quarter of 2026. This performance underscores their dominant role in the market, even as events like the 2026 World Cup preparations capture global attention. […]

The Lagos State Government has announced planned road closures on Lagos Island this coming Monday, April 6, 2026, to accommodate the staging of the annual Fanti Carnival. The announcement, made by the Lagos State Ministry of Tourism, Arts and Culture via the official state government X account, is part of a series of logistical measures […]

In a significant shift for Nigeria’s mining sector, the Nigeria Revenue Service (NRS) has formally assumed responsibility for collecting mineral royalties from operators nationwide. This transition, enacted under the new Nigeria Tax Laws 2025, marks a pivotal step in the government’s comprehensive fiscal reform agenda. The official handover was confirmed in a joint statement released […]

Consolidated Hallmark Holdings Plc (CHH) has disclosed a severe 65% contraction in its full-year profit for 2025. This sharp decline underscores a challenging period where plummeting investment returns overwhelmed robust performance in the company’s core insurance underwriting activities. The audited financial statements reveal a profit after tax of N8.44 billion, a significant drop from the […]

Wema Bank Plc has released its audited financial results for 2025, confirming a substantial profit before tax of N221.8 billion. This figure, closely aligning with the earlier unaudited report of N222 billion, marks a remarkable year-on-year growth of 116.44% from the N102.5 billion recorded in 2024. The bank’s exceptional performance was primarily driven by a […]

New data from the Nigerian Exchange Limited (NGX) reveals a complex picture of foreign investor activity for February 2026. While inflows showed improvement, foreign portfolio outflows still climbed by 9.12% to N72.32 billion, underscoring a climate of persistent caution among international investors. The NGX’s Domestic & Foreign Portfolio Investment Report for the period ending February […]

The landscape of global corporate leadership has undergone a significant transformation over the past two decades. In 2005, a mere eight women led Fortune 500 companies, constituting just 1.6% of CEOs, while representation of Nigerian women in such roles or on major corporate boards was virtually nonexistent. Today, the narrative has decidedly shifted. As women […]

Nigeria’s health sector navigates a complex landscape of profound challenges and transformative innovation. Systemic underfunding persists, with the 2024 federal health allocation of approximately N1.34 trillion representing only 4.6% of the total budget, a figure starkly below the 15% Abuja Declaration target. This constrained financing, coupled with inconsistent budget execution at state levels, continues to […]

In a significant gesture marking his 74th birthday, President Bola Ahmed Tinubu has announced the donation of his entire presidential salary accrued since taking office. The funds are dedicated to supporting Nigeria’s Armed Forces, with a specific focus on wounded personnel and the families of soldiers who have died in service. The President disclosed this […]

In the financial sector, the concept of sustainability has evolved far beyond a mere buzzword. First Bank of Nigeria Limited, a cornerstone institution with over a century of operations, is demonstrating a profound commitment to redefining this principle through actionable environmental and social governance (ESG) initiatives. Its recent recognition as Nigeria’s Best Bank for ESG […]

In a decisive move to confront a critical healthcare deficit, the Federal Government of Nigeria has established a high-level committee dedicated to expanding the nation’s pool of specialized therapy professionals. The newly inaugurated National Committee for the Advancement of Occupational Therapy, Audiology, and Speech Therapy Education (NCAOTASTE) marks a strategic intervention to bolster a severely […]

The Nigerian Safety Investigation Bureau (NSIB) has successfully concluded a landmark stakeholder workshop in Lagos, marking a significant step forward for aviation safety in the nation. The event, held at the Lagos Marriott Hotel in Ikeja, convened over 200 senior aviation professionals for intensive discussions on critical safety pillars: ensuring the integrity of accident investigation […]

In a significant shift of policy, the United States has moved to ease financial restrictions on Venezuela’s state-owned oil enterprise, Petróleos de Venezuela (PDVSA). The U.S. Treasury Department formally announced the adjustment via a communication on the social media platform X. This decision arrives against a backdrop of tightening global oil supplies, exacerbated by persistent […]

In a decisive enforcement action, the Federal Government has mandated the immediate closure of three manufacturing facilities in Ogijo, Ogun State. The shutdown was ordered due to egregious violations of occupational safety and health standards, which presented severe risks to human life. The directive, issued by the Minister of State for Labour and Employment, Nkeiruka […]

New data from the Central Bank of Nigeria (CBN) reveals a significant contraction in the nation’s external account, underscoring mounting pressures from global trade dynamics. Nigeria’s current account surplus fell sharply by 65.52% to $1.4 billion in the fourth quarter of 2025, a substantial decline from the $4.06 billion surplus recorded in the third quarter. […]

In anticipation of the significant passenger surge during the Sallah festivities, the Nigerian Railway Corporation (NRC) has implemented a strategic expansion of its services. The corporation has officially introduced additional train trips on its pivotal Lagos-Ibadan and Abuja-Kaduna corridors to ensure efficient and comfortable travel for the public. The announcement was formally made in a […]

In a significant move underscoring the ongoing fight against financial crime within Nigeria’s critical sectors, the Economic and Financial Crimes Commission (EFCC) has formally transferred recovered funds totaling N3.9 billion to the Nigerian National Petroleum Company Limited (NNPCL). The handover ceremony, which reinforces the imperative for transparency and accountability in public fund management, took place […]

The Nigerian Naira concluded a week of notable volatility with a firm recovery, closing at N1,363.5 per US Dollar in the official foreign exchange market on Friday. This positive movement represents a significant rebound from the sharp depreciation experienced at the opening of the trading week, underscoring the dynamic nature of the currency market. According […]

The Nigeria Data Protection Commission (NDPC) has issued a formal advisory to digital content creators, cautioning them against the unauthorized filming and distribution of individuals in public spaces. This directive underscores the legal imperative to respect citizen privacy and data protection rights under national law. In an official statement released by Babatunde Bamigboye, Head of […]

The Federation Account Allocation Committee (FAAC) has concluded its March 2026 meeting, approving the distribution of a total sum of N1.894 trillion in federally collected revenue for the month of February. The announcement was made official via a communiqué detailed in a statement from Bawa Mokwa, Director of Press and Public Relations at the Office […]

Drivers for the Bolt ride-hailing platform in Lagos are voicing significant distress over deteriorating working conditions and fare structures they deem unsustainable. Represented by the Amalgamated Union of App-Based Transporters of Nigeria (AUATON), the drivers cite a critical mismatch between soaring operational costs and the earnings provided through the app. In an official statement released […]

The Delta State Executive Council has sanctioned a substantial investment of N34 billion for the construction of modern police divisional headquarters across all 25 Local Government Areas within the state. This significant allocation was announced by the State Commissioner for Works (Rural Roads) and Public Information, Charles Aniagwu, following the council’s latest meeting. Commissioner Aniagwu […]

Manufacturers in Anambra State are raising urgent concerns over the escalating cost of fuel and diesel, which is severely impacting daily production operations. The issue was highlighted by Ada Chukwudozie, Chairman of the Manufacturers Association of Nigeria (MAN) for the Anambra, Enugu, and Ebonyi zone, during a recent event in the state. Chukwudozie emphasized that […]

The media office of former Vice President Atiku Abubakar has issued a sharp rebuke to President Bola Tinubu’s spokesperson, Daniel Bwala, accusing him of political opportunism. In a statement released on Saturday, Atiku’s camp characterized Bwala’s recent alignment with the Tinubu administration as a transactional shift in allegiance. The statement, signed by Atiku’s Senior Special […]

The United Kingdom has witnessed a significant surge in study visa grants to Nigerian nationals, according to the latest official immigration statistics. In the year ending December 2025, UK authorities issued 30,204 sponsored study visas to Nigerian students. This figure represents a substantial 59% year-on-year increase from 2024, positioning Nigeria among the fastest-growing nationalities for […]

Nigeria’s agricultural export sector is confronting a significant quality crisis, with a reported 30% rejection rate in international markets. Sesame seed exports are facing the most severe level of refusal, according to recent industry disclosures. Dr. Ofon Udofia, Executive Secretary of the Institute of Export Operations and Management Nigeria Limited, revealed these findings during a […]

Governor Babajide Sanwo-Olu has formally announced the launch of Invest Lagos 3.0, the Lagos State Government’s premier international investment platform scheduled for 2026. The announcement was made during a press conference at Lagos House, Marina, with the summit aiming to accelerate structured capital mobilisation and expand cross-border trade. The upcoming event is designed to solidify […]

In a significant development for Nigeria’s industrial landscape, Kogi State has formally received the Declaration License for the Ajaokuta Economic City Free Trade Zone from the Nigeria Export Processing Zones Authority (NEPZA). This milestone officially launches one of the nation’s strategic industrial corridors, marking a pivotal moment in the state’s economic transformation agenda. The announcement […]

JAMB Commences 2026 UTME Subject Correction Window | Registration Update JAMB Opens Correction Portal for 2026 UTME Subject Combinations The Joint Admissions and Matriculation Board (JAMB) has announced the commencement of a correction window for candidates who need to amend their selected subject combinations for the 2026 Unified Tertiary Matriculation Examination (UTME). This initiative allows […]

FAAN and MTN Launch Free Airport Wi-Fi, Enhancing Nigeria’s Digital Infrastructure FAAN and MTN Partner to Provide Free High-Speed Wi-Fi at Nigerian Airports The Federal Airports Authority of Nigeria (FAAN), in a strategic collaboration with MTN Nigeria, has officially launched complimentary, high-speed Wi-Fi services for passengers at the nation’s busiest international airports. This initiative, a […]

CBN Sterilizes N3.57 Trillion in Liquidity Management Drive CBN Intensifies Liquidity Mop-Up, Sterilizes N3.57 Trillion in Three Days The Central Bank of Nigeria (CBN) has executed a significant liquidity sterilization operation, absorbing over N3.57 trillion from the banking system within a three-day period. This aggressive intervention, conducted between Tuesday, February 17, and Thursday, February 19, […]

Rwanda Central Bank Raises Rate to 7.25%, Diverging from African Peers National Bank of Rwanda Implements 50bps Rate Hike to Tackle Inflation In a decisive move against persistent inflation, the National Bank of Rwanda has increased its key interest rate by 50 basis points to 7.25%. The decision, announced by Governor Soraya Hakuziyaremye on Thursday […]

Nigeria’s Borrowing Costs Decline as Fixed-Income Yields Fall | Market Analysis Robust Investor Demand Drives Down Nigeria’s Government Borrowing Costs Nigeria’s fixed-income market witnessed a notable easing in government borrowing costs on Thursday, February 19, 2026. Yields across Treasury Bills, Open Market Operation (OMO) bills, and Federal Government of Nigeria (FGN) bonds declined, propelled by […]

AMNI International Clarifies Legal Position in Cenroc Dispute AMNI International Clarifies Legal Position in Cenroc Dispute AMNI International Petroleum Development Company Limited has issued a formal clarification regarding recent media reports and public declarations surrounding a court order related to the Cenroc dispute. The company emphasizes that contrary to some narratives, the Federal High Court […]

Zichis Agro-Allied Stock Soars 157% in February 2026, Breaks N10 Barrier Zichis Agro-Allied Industries Sees Meteoric Share Price Rise Shares of Zichis Agro-Allied Industries Plc have delivered exceptional performance on the Nigerian Exchange, appreciating by over 157% month-to-date in February 2026. The stock, which broke into the N10 price territory, has closed every trading session […]

Remote Work Platforms Offering $400-$2,500 Monthly in 2026 Top Remote Work Platforms for Global Income in 2026 The professional landscape has undergone a profound transformation, with remote work evolving from a niche option to a mainstream career pathway. This shift, accelerated by global technological adoption, enables skilled individuals worldwide to access international income opportunities. Professionals […]

ECOWAS Finalizes Eco Currency Framework for 2027 Launch | Central Bank Governors Meet West African Central Banks Advance Plans for Eco Single Currency Central bank governors from twelve West African nations are currently engaged in a pivotal meeting in Monrovia, Liberia, to finalize the technical and institutional framework for the launch of the Eco regional […]

Report Details $40 Million U.S. Program for Third-Country Migrant Deportations Senate Report Reveals $40 Million Expenditure on Controversial Deportation Strategy A recent congressional report has brought to light a significant and costly U.S. immigration enforcement policy. According to findings released by Democrats on the Senate Foreign Relations Committee, the administration of Donald Trump spent over […]

Lagos Announces 4-Week Lagos-Abeokuta Expressway Rehabilitation | Traffic Diversion Plan Lagos State Announces Critical Rehabilitation of Lagos-Abeokuta Expressway The Lagos State Government has officially announced a four-week partial closure of the Lagos–Abeokuta Expressway to execute critical rehabilitation works on failed sections of this vital transport corridor. The disclosure was made in a statement signed by […]

Lagos Announces Six-Week Apongbon Bridge Closure for Critical Repairs Lagos Announces Six-Week Apongbon Bridge Closure for Critical Repairs The Lagos State Government has officially announced a comprehensive six-week shutdown and traffic diversion plan for the vital Apongbon Bridge. This decisive action, set to commence on Thursday, February 5, 2026, will facilitate urgent repair works on […]

Yahaya Bello Accuses EFCC of Political Trial in N80 Billion Fraud Case Former Governor Yahaya Bello Alleges Political Motive in EFCC N80 Billion Case In a significant development at the Federal High Court in Abuja, former Kogi State Governor Yahaya Bello has formally accused the Economic and Financial Crimes Commission (EFCC) of conducting a politically […]

Cadbury Nigeria 2025 Results: Analyzing a Turnaround with Future Challenges Cadbury Nigeria Posts Strong 2025 Recovery, But Sustainability is Key Following consecutive years of significant losses, Cadbury Nigeria Plc has announced a decisive financial turnaround in its 2025 unaudited full-year results. The company reported a substantial 31% surge in revenue, powered by the robust performance […]

FX Stability Outweighs Rate Level for Nigeria’s Sustainable Growth, Says Coronation Chairman FX Stability, Not Rate Level, Key to Sustainable Growth – Folawiyo Nigeria’s foreign exchange reforms are restoring critical predictability to the economy, a development identified as fundamental for long-term growth and strategic business planning. Babatunde Folawiyo, Chairman of Coronation Merchant Bank, emphasized this […]

Vitafoam Nigeria Plc Proposes Capital Increase to N750.5 Million and Bonus Issue Vitafoam Nigeria Plc Seeks Shareholder Nod for Capital Restructuring Vitafoam Nigeria Plc has announced a strategic proposal to increase its issued share capital to N750.5 million. The move, detailed in a notice to the Nigerian Exchange (NGX), is part of a broader plan […]

FirstHoldco Reports Sharp Decline in 2025 Profit Amid Significant Impairment Charges FirstHoldco Plc Announces 2025 Financial Results: Pre-Tax Profit Declines 71% FirstHoldco Plc has released its unaudited consolidated and separate financial statements for the fiscal year ended December 31, 2025. The results reveal a substantial year-on-year decline in profitability, with a pre-tax profit of N229.097 […]

Market Analysis: Nigerian Equities Dip Amid Selective Gains Nigerian All-Share Index Edges Lower Despite Active Trading Session The Nigerian equities market experienced a slight contraction on Thursday, January 30, 2026, as the benchmark All-Share Index (ASI) declined by 0.09%. The index closed at 165,370.4 points, down from the previous day’s 165,527.3. Despite the marginal pullback, […]

Lagos State Acknowledges Shortfall in 10,000 CCTV Installation Target | Security Update Lagos State Governor Acknowledges CCTV Installation Target Not Met Governor Babajide Sanwo-Olu has publicly stated that the Lagos State Government has not achieved its ambitious plan to install between 5,000 and 10,000 Closed-Circuit Television (CCTV) cameras across the metropolis. The admission was made […]

FAAN Increases Cargo Port Charges to N20 After 18 Years FAAN Announces Immediate Cargo Port Charge Increase to N20 The Federal Airports Authority of Nigeria (FAAN) has implemented an immediate upward review of cargo port charges, raising the tariff from N7 to N20. This adjustment marks the first increase in nearly two decades, with the […]

First Holdco Plc Reports N3.4 Trillion in Gross Earnings for FY 2025 First Holdco Plc Announces Unaudited FY 2025 Results, Highlights Strategic Balance Sheet Strengthening First HoldCo Plc has released its unaudited financial results for the year ended December 31, 2025, showcasing a period defined by strategic actions to fortify its balance sheet and build […]

LIRS to Enforce Direct Tax Recovery from Banks and Third Parties Lagos State Activates Direct Tax Recovery Powers The Lagos State Internal Revenue Service (LIRS) has announced it will begin exercising its statutory power of substitution to recover outstanding taxes directly from the banks and financial associates of defaulting taxpayers. This decisive move, authorized under […]