Novagist

Conoil Appoints Bolaji Owolabi as Acting Company Secretary Conoil Announces Appointment of Bolaji Owolabi as Acting Company Secretary Conoil Plc has formally announced the appointment of Mr. Bolaji Owolabi as its Acting Company Secretary, effective from November 12, 2025. The disclosure was filed with the Nigerian Exchange Limited and signed by the company’s Finance Director, […]

AI-Driven Memory Chip Shortage Threatens Global Smartphone Price Hikes AI-Driven Memory Chip Shortage Threatens Global Smartphone Price Hikes A structural shortage in memory chips, propelled by unprecedented demand from artificial intelligence infrastructure, is poised to increase global smartphone prices by 15 to 20% in the coming months. This potential price hike, detailed in market data […]

Ellah Lakes Plc to Refund N235 Billion Public Offer Subscriptions Ellah Lakes Concludes Unsuccessful N235 Billion Public Offer, Initiates Investor Refunds Ellah Lakes Plc has formally closed its N235 billion public offer and will refund all subscription monies to applicants after the offer failed to meet the minimum subscription threshold required for share allotment. The […]

Lagos State Denies Resumption of Monthly Sanitation Exercise Lagos Government Clarifies Status of Monthly Sanitation Exercise The Lagos State Government has officially denied circulating reports claiming the resumption of its monthly environmental sanitation exercise. The clarification was issued by the Commissioner for Environment and Water Resources, Tokunbo Wahab, who stated that no official commencement date […]

Federal Government Advances Plans for Armed Forces College of Medicine Federal Government Advances Plans for Armed Forces College of Medicine The Federal Government has announced significant progress in its plan to establish an Armed Forces College of Medicine and Health Sciences. This strategic initiative aims to bolster military healthcare services and substantially expand Nigeria’s national […]

Global Outage Hits X Platform: Users Report Widespread Access Issues Global Outage Hits X Platform: Users Report Widespread Access Issues Elon Musk’s social media platform, X, experienced a significant global service disruption on Monday, with users across multiple countries reporting an inability to access the website and mobile application. The widespread outage raised immediate concerns […]

Nigeria’s Healthcare Sector: Market Leaders by Capitalization in 2025 Leading Healthcare Companies on the NGX: A 2025 Market Capitalization Review The healthcare sector on the Nigerian Exchange concluded the 2025 trading year demonstrating remarkable valuation growth. Companies within pharmaceuticals and healthcare services achieved a combined market capitalization of N466.73 billion on the final trading day. […]

Analysis: Nigeria’s Top 10 Most Expensive States in January 2026 Nigeria’s economic landscape in January 2026 presented a complex picture of moderating short-term inflation alongside persistent regional cost pressures. According to the National Bureau of Statistics (NBS), the national headline inflation rate eased to 15.10%, a slight decrease from 15.15% in December 2025. This shift […]

Institutional Crypto Funds See $173M Outflow as Capital Rotates to Altcoins Crypto Investment Products Extend Outflow Streak to Four Weeks Digital asset investment products recorded $173 million in net outflows for the week ending February 14, 2026, marking a fourth consecutive week of withdrawals. This data, published in the latest weekly fund flows report by […]

Tinubu Advocates for African Credit Rating Agency in FT Op-Ed Tinubu Calls for Africa-Owned Credit Rating Agency in Financial Times Commentary In a recent op-ed published in the Financial Times, President Bola Tinubu of Nigeria issued a compelling call for the establishment of a credit rating agency owned and operated within Africa. He argued that […]

Zedcrest Group Deepens SME Commitment with New “A Taste of Nigeria” Partners In a strategic move to bolster Nigeria’s indigenous business landscape, Zedcrest Group, a prominent financial services institution, has announced a new cohort of partners for its “A Taste of Nigeria” initiative. This expansion underscores the Group’s dedicated support for small and medium-sized enterprises […]

NAFDAC Denies Suspension, Reaffirms Ban on Sachet and Small PET Bottle Alcohol NAFDAC Refutes Claims of Suspended Enforcement on Sachet Alcohol Ban The National Agency for Food and Drug Administration and Control (NAFDAC) has formally dismissed recent media reports suggesting the Federal Government ordered a suspension of its ban on alcoholic beverages in sachets and […]

Japaul Gold Appoints Finance Expert Abubakar Lawal to Board Amid Strategic Shift Japaul Gold Strengthens Board with Appointment of Finance Veteran Abubakar Lawal Japaul Gold & Ventures Plc has announced a key addition to its leadership, appointing seasoned finance professional Abubakar Lawal as a Non-Executive Director. The appointment, formalized in a notice signed by Company […]

Federal High Court Sentences Chinese Nationals to 46 Years for N3.4bn Cyberterrorism Court Imposes 46-Year Sentences in Landmark N3.4bn Cyberterrorism Case A Federal High Court in Ikoyi, Lagos, has delivered a significant verdict, sentencing two Chinese nationals to 46 years’ imprisonment each for cyberterrorism and internet fraud. The convictions, secured by the Economic and Financial […]

Analysts Project UBA, Zenith, Access Corp to Lead Banking Returns in 2026 UBA, Zenith Bank, and Access Corp Top 2026 Return Projections for Tier-1 Banks In a comprehensive analysis of Nigeria’s financial sector, United Bank for Africa (UBA), Zenith Bank, and Access Corporation have been identified as the Tier-1 lenders projected to deliver the strongest […]

Nigerian All-Share Index Hits Record High, Surpasses 171,000 Points Nigerian Equities Scale New Peak as All-Share Index Breaches 171,000 The Nigerian equities market achieved a historic milestone as the All-Share Index surged past the 171,000-point threshold for the first time. The index gained 1,722.1 points to close at 171,727.5, marking a 1.01% increase from the […]

FAAN Announces 18-Month Timeline for Cargo Truck Call-Up System at Lagos Airport FAAN to Deploy Cargo Truck Call-Up System at MMIA Within 18 Months The Federal Airports Authority of Nigeria (FAAN) has announced a definitive 18-month timeline to make its Truck Call-Up System fully operational at the Murtala Muhammed International Airport (MMIA). This initiative is […]

Naira Strengthens at Official Market, Closes Week at N1,363/$ Naira Records Weekly Gain, Closes at N1,363/$ in Official Trading The Nigerian Naira concluded the trading week on a stronger note at the official foreign exchange market, appreciating to a closing rate of N1,363 per US Dollar on Friday. According to daily trading data released by […]

EU Issues Preliminary Ruling Against TikTok for Addictive Design, Threatens Major Fine EU Rules TikTok’s Addictive Design Breaches Digital Services Act The European Commission has issued a stark preliminary finding against TikTok, stating the platform’s core design encourages compulsive use and fails to adequately protect users, particularly minors. This action, part of a formal investigation […]

Appeal Court Upholds N2.5bn Award for Sacked ABU Workers, Dismisses CBN Challenge Court of Appeal Enforces N2.5 Billion Judgment for Dismissed University Staff In a decisive ruling that underscores the finality of court judgments, the Court of Appeal in Abuja has dismissed appeals by the Central Bank of Nigeria (CBN) and Ahmadu Bello University (ABU), […]

Meta Faces Landmark Child Safety Trial in New Mexico | Legal Precedent Explained Meta to Stand Trial in New Mexico Over Child Safety Allegations The first stand-alone trial resulting from a wave of state lawsuits against Meta Platforms Inc. is scheduled to commence on Monday, February 2, 2026, in New Mexico. This pivotal case, initiated […]

CPPE Advocates for National Farm Price Stabilisation Framework | Policy Analysis Policy Think Tank Calls for National Framework to Stabilize Farm Prices and Incomes The Centre for the Promotion of Private Enterprise (CPPE) has issued a formal appeal to the Federal Government for the establishment of a rules-based national farm price stabilisation framework. This initiative […]

Nigeria Forges Path as Africa’s First Electric Vehicle Manufacturing Nation Nigeria Positions to Become Africa’s Premier Electric Vehicle Manufacturer In a landmark move for continental industrialization, the Federal Government of Nigeria has taken a decisive step toward establishing the first dedicated Electric Vehicle (EV) manufacturing plant in Africa. This initiative, realized through a strategic Memorandum […]

World Bank’s Mission 300 Aims to Power 17.5 Million Nigerians World Bank Initiative Targets Energy Access for 17.5 Million Nigerians The World Bank has announced that its ambitious Mission 300 program will provide household energy access to an estimated 17.5 million people in Nigeria. This engagement with the Federal Government is designed to stimulate job […]

Strategic Capital Allocation: How Nigerian Billionaires Are Projected to Invest in 2026 Navigating Economic Headwinds: The 2026 Investment Outlook for Nigeria’s Wealth Elite While millions of Nigerians contend with inflation and exchange-rate volatility, the nation’s billionaire class operates from a distinct vantage point, functioning as sophisticated global capital allocators. Their primary focus remains on hedging […]

Federal High Court Remands NEDC Coordinator Over N2.2 Billion Fraud Allegations NEDC Project Coordinator Remanded in Prison Over N2.2 Billion Fraud Case A Federal High Court in Abuja has ordered the remand of Alhaji Mohammed Danjuma, the National Coordinator of the Multi-Sectoral Crisis Recovery Project (MCRP) for the North East Development Commission (NEDC), in the […]

CBN Approves Temporary Use of Expired NAFDAC Licences for Import Documentation CBN Grants Temporary Relief for Importers Using Expired NAFDAC Licences In a significant move to ensure business continuity, the Central Bank of Nigeria (CBN) has authorized a temporary dispensation for importers to utilize expired National Agency for Food and Drug Administration and Control (NAFDAC) […]

PayPal’s Nigeria Return Sparks Boycott Calls and Cautious Optimism PayPal’s Strategic Return to Nigeria Meets Public Skepticism The announcement of PayPal’s renewed engagement in Nigeria, through a partnership with local fintech firm Paga, has ignited a spectrum of reactions across the nation’s digital landscape. While the move enables Nigerians to receive payments on the platform […]

International Energy Insurance Reports N688.8 Million Profit for 2025 International Energy Insurance Navigates Market Headwinds to Post N688.8 Million Profit in 2025 International Energy Insurance Plc (IEI) has announced a pre-tax profit of N688.8 million for its full-year 2025 financial period. This result demonstrates the company’s resilience in a challenging operating environment, achieved despite a […]

Guinea Insurance Seeks NGX Approval for N5.30 Billion Rights Issue Guinea Insurance Plc Files for N5.30 Billion Rights Issue with Nigerian Exchange Guinea Insurance Plc has formally applied to the Nigerian Exchange (NGX) for approval to raise N5.30 billion through a rights issue. This strategic move is aimed at strengthening the company’s capital base and […]

Market Analysis: Nigerian Equities See Marginal Dip Amid High Volume Trading Nigerian Stock Market Edges Lower Amid Active Trading Session The Nigerian Exchange Limited concluded trading on Monday, January 19, 2026, with a marginal decline. The All-Share Index (ASI) slipped by a mere 0.01%, closing at 166,112.5 points. This represented a modest 17-point decrease from […]

Geregu Power Reports N41.9bn Pre-Tax Profit for 2025 on Robust Energy Sales Geregu Power Plc Announces 2025 Financial Results: Pre-Tax Profit Rises to N41.9 Billion Geregu Power Plc, a foremost electricity generation company in Nigeria, has released its audited financial statements for the year ended December 31, 2025. The company posted a pre-tax profit of […]

Court Rules EFCC Exceeded Powers in Amadeus Tax Demand Case Court Nullifies EFCC’s €3.2m and $2.4m Tax Demand Against Amadeus The Federal High Court in Abuja has delivered a significant ruling clarifying the limits of anti-graft agencies’ powers, nullifying a demand by the Economic and Financial Crimes Commission for €3.2 million and $2.4 million in […]

President Bola Tinubu Confers Prestigious GCON Honour on Gilbert Chagoury President Bola Tinubu Confers Prestigious GCON Honour on Gilbert Chagoury In a ceremony held in Abuja on January 8, 2026, President Bola Ahmed Tinubu conferred the national honour of Grand Commander of the Order of the Niger (GCON) upon Ambassador Gilbert Chagoury. The award, presented […]

AEDC Adopts HoldCo Structure Following Nigeria’s Electricity Act 2023 Abuja Electricity Distribution Plc Transitions to Holding Company Model In a strategic move to align with Nigeria’s evolving power sector, Abuja Electricity Distribution Plc (AEDC) has formally transitioned to a holding company (HoldCo) structure. This restructuring is a direct response to the decentralized regulatory framework established […]

Chapel Hill Denham Announces N5.59bn NIDF Distribution for Unitholders Nigeria Infrastructure Debt Fund Declares N5.59 Billion Cash Distribution Chapel Hill Denham Management Limited, the fund manager for the Nigeria Infrastructure Debt Fund (NIDF), has announced a significant cash distribution to its unitholders. According to a corporate filing on the Nigerian Exchange (NGX) dated January 15, […]

SKLD at 25: A Legacy of Resilience and Impact in Nigerian Business SKLD at 25: Rooted in Legacy, Driven by Impact Navigating a quarter-century in Nigeria’s dynamic business landscape is a testament to exceptional resilience. Surviving economic cycles, regulatory shifts, and supply chain shocks demands a model worthy of respect and study. As SKLD Integrated […]

The $130 Billion Paradigm Shift: How Africa’s Energy Titans Are Reshaping Investment The $130 Billion Paradigm Shift: How Africa’s Energy Titans Are Reshaping Investment In the landscape of African industry, figures like Femi Otedola, Tony Elumelu, and Aliko Dangote command significant influence. A profound transformation is now redefining the continent’s energy sector, where success is […]

IMF Report: AI-Driven Labor Market Shifts Demand New Skills Globally IMF Analysis: AI Reshaping Global Labor Markets, Demands New Skills A new analysis from the International Monetary Fund reveals that artificial intelligence and digital transformation are rapidly altering global employment landscapes, compelling workers worldwide to pursue continuous learning. IMF Managing Director Kristalina Georgieva emphasized these […]

International Breweries Plc Announces Executive Leadership Transition International Breweries Plc Announces Executive Leadership Transition International Breweries Plc (IBPLC), a subsidiary of Anheuser-Busch InBev, has announced a significant change in its executive management. The company confirmed that its current Managing Director, Mr. Carlos Coutino, will transition to a new leadership role within the AB InBev group, […]

Federal Government and ASUU Sign Landmark Agreement with 40% Pay Review Federal Government and ASUU Finalize Renegotiated Agreement, Introducing 40% Pay Review and New Professorial Allowance The Federal Government has formally signed a renegotiated agreement with the Academic Staff Union of Universities (ASUU), marking a pivotal step toward stabilizing and improving Nigeria’s public university system. […]

Court Denies NDLEA Bid to Keep Proxy Night Club Sealed | Legal Ruling Court Upholds Unsealing Order, Denies NDLEA’s Stay of Execution Request In a significant legal ruling, the Federal High Court in Lagos has refused an application by the National Drug Law Enforcement Agency (NDLEA) to suspend the enforcement of its order to unseal […]

NELFUND Addresses N928 Million Student Allowance Arrears, Outlines Resolution Plan NELFUND Identifies N927.98 Million in Student Upkeep Arrears, Cites Technical Hurdles The Nigerian Education Loan Fund (NELFUND) has announced the identification of N927.98 million in unpaid student upkeep allowances owed to 11,685 beneficiaries. The discovery followed a comprehensive reconciliation exercise after the 2024/2025 academic session. […]

Universal Insurance Seeks N15bn Capital Raise Approval | Strategic Move Universal Insurance Plc Proposes N15 Billion Capital Raise to Meet Regulatory Requirements Universal Insurance Plc has announced a strategic initiative to strengthen its financial base. The company is seeking shareholder approval to raise up to N15 billion through the Nigerian or international capital markets. This […]

Yobe State Clears N15.4 Billion Gratuity Backlog for Retirees Yobe State Settles N15.4 Billion in Outstanding Gratuities The Yobe State Government has announced the full settlement of outstanding gratuity liabilities owed to retirees from both state and local government service. A total of N15.4 billion was disbursed to eliminate the backlog, which had accumulated over […]

Nigeria’s 2025 Oil Production: A Detailed Analysis of NUPRC Data Nigeria’s Crude Oil Production Averaged 1.64 mb/d in First 11 Months of 2025 According to official data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the nation’s combined crude oil and condensate production averaged 1.64 million barrels per day (mb/d) from January to November 2025. […]

PAC Foundation Empowers 100 Young Women with Digital Skills for the Modern Economy PAC Foundation Concludes Successful Digital Skills Program for Young Women The PanAfrican Capital (PAC) Foundation has successfully concluded the third cohort of its Girls Can Code (GCC) initiative, a strategic partnership with ALX Nigeria. This flagship program is designed to equip young […]

Max Health Seeks Committal Against PCN, H-Medix in Abuja Pharmacy Dispute Max Health Escalates Legal Battle, Files Committal Motion Against PCN and H-Medix In a significant escalation of a multi-million naira lawsuit, Max Health has filed a motion for committal to prison against H-Medix and the Chairmen of the Pharmacy Council of Nigeria (PCN), FCT […]

Peter Obi Questions Presidential Absence Amid National Crises Peter Obi Criticizes President Tinubu’s Extended Absence During National Crises Former Nigerian presidential candidate Peter Obi has publicly questioned President Bola Ahmed Tinubu’s prolonged periods abroad amidst mounting domestic challenges. In a detailed statement on social media platform X, Obi highlighted that the President spent 196 days […]

Nigerian Stock Market Surpasses N104 Trillion Amid Trading Surge Nigerian Equities Market Hits Record N104.5 Trillion Valuation The Nigerian Exchange concluded trading on Monday, January 12, 2026, on a robustly positive note, with the benchmark All-Share Index (ASI) advancing by 946.6 points to close at 163,244.7 points. This significant gain propelled the index firmly above […]