Novagist

The OPEC+ alliance has agreed in principle to implement a modest production increase of 206,000 barrels per day (bpd) for May 2026, according to sources cited by Reuters. This decision, reached ahead of the group’s formal meeting, extends the same incremental output adjustment approved for the previous month. However, analysts suggest the real-world impact of […]

For investors seeking a stable income stream within the Nigerian financial landscape, Federal Government of Nigeria Bonds represent a cornerstone of security. These instruments, issued by the government and considered the safest naira-denominated assets, dominate the domestic bond market. By purchasing an FGN bond, you effectively become a lender to the government. In return, the […]

The Nigerian Air Force has officially announced the commencement date for training of successful applicants to its Direct Short Service Commission (DSSC) Course 34/2025. In a formal statement released by Air Commodore Ehimen Ejodame, Director of Public Relations and Information, the service confirmed that training will begin on April 18, 2026. This development follows the […]

The Nigerian cinema industry has commenced 2026 with remarkable vigor, posting its highest first-quarter admissions in six years. Official data released on April 5, 2026, reveals that total ticket sales for Q1 2026 reached 752,136, signaling a robust and sustained recovery in theatrical demand and underscoring the growing dominance of Nollywood productions on home soil. […]

In a decisive move to address a critical financial bottleneck, President Bola Tinubu has sanctioned a N3.3 trillion payment plan to resolve legacy debts within Nigeria’s power sector. The approval, formalized under the Presidential Power Sector Financial Reforms Programme, was officially communicated by the President’s spokesperson, Bayo Onanuga, this Sunday. This intervention concludes an extensive […]

The Joint Admissions and Matriculation Board (JAMB) has officially released the results of its 2026 Unified Tertiary Matriculation Examination (UTME) mock test. The trial examination, held on March 28, 2026, was intended as a critical systems check ahead of the main UTME scheduled for April 16-25, 2026. According to the Board, a total of 224,597 […]

The National Drug Law Enforcement Agency (NDLEA) in Edo State has announced a significant operational milestone, arresting 104 suspected traffickers and seizing illicit substances valued at over N1.8 billion. State Commander Dr. Mitchell Ofoyeju presented the first-quarter 2026 scorecard in Benin, detailing the outcomes of intelligence-led operations conducted between January and March. The command’s intensified […]

Guaranty Trust Holding Company Plc (GTCO) has released its audited financial results for the year ended December 31, 2025, presenting a mixed performance characterized by robust top-line growth but moderated bottom-line figures. The financial conglomerate reported a profit after tax of N865.75 billion, marking a 14.94% decline from the preceding year’s record N1 trillion. The […]

NigComSat Announces Monumental Revenue Growth, Outlines Satellite Expansion The Nigerian Communications Satellite Limited (NigComSat) has reported a dramatic surge in its financial performance, with revenue escalating from $650 million in 2023 to over $2 billion by the close of 2025. The agency’s Chief Executive Officer, Nkechi Jane Egerton-Idehen, made this announcement during her keynote address […]

In a significant development within Nigeria’s federal executive cabinet, the Honourable Minister of Power, Adebayo Adelabu, has formally resigned from his position. The resignation was confirmed through an official letter signed by the minister and addressed to the President. In his correspondence, Adelabu expressed profound gratitude to the President for the opportunity to serve the […]

The Federal Government of Nigeria has officially inaugurated a transformative educational initiative, the Entrepreneurship, Innovation and Business Incubation Certification (EIBIC) programme. The launch event, held at the TETFund Auditorium in Abuja, marks a strategic phase-one rollout across 14 universities nationwide, aiming to fundamentally reshape the academic experience. Under the theme “Driving Entrepreneurship and Innovation and […]

The global landscape of digital finance has reached a pivotal milestone, with registered mobile money accounts surging to 2.3 billion as of 2025. This data, central to the GSMA’s latest State of the Industry Report on Mobile Money, underscores the transformative role of digital wallets in driving financial inclusion and powering economic activity worldwide. These […]

A recent investment report projects that Nigerian Eurobonds are positioned to deliver double-digit returns to investors by the year 2026. The analysis, titled “Global Shocks and Market Opportunities: How to Invest in 2026,” was published by VNL Capital Asset Management and points to several strengthening macroeconomic fundamentals within Nigeria. The report identifies the nation’s improving […]

The Nigeria Deposit Insurance Corporation (NDIC) has moved to reinforce public confidence in the nation’s financial safety net, clarifying that it does not depend on government bailouts to protect depositors. This assurance comes amidst broader national discussions on economic resilience, such as the recent Consolidated Hallmark reports N9.7 Billion financial results and the fiscal strategies […]

The Nigerian Naira is demonstrating a notable recovery against the British Pound Sterling, trading at N1,837/£. This appreciation marks a significant shift from earlier volatility and reflects growing market confidence following a series of strategic reforms by the Central Bank of Nigeria (CBN). Market analysis indicates a crucial psychological breakthrough for the Naira as it […]

Nigeria’s fixed-income market experienced a significant contraction over a two-day period, with the total capitalization on the FMDQ Securities Exchange declining by N720 billion. This shift underscores a period of active repricing as investors navigate changing monetary conditions and declining yields in key short-term instruments. Market data indicates the total valuation fell from N104.68 trillion […]

In response to escalating global oil market disruptions, the International Energy Agency (IEA) has issued a stark advisory, suggesting that reducing air travel could be a necessary measure to curb jet fuel demand. The agency framed this recommendation within a broader set of ten actionable options for both citizens and policymakers to mitigate the impacts […]

The Federal Government of Nigeria has intensified high-level negotiations concerning a proposed $20 billion transcontinental gas pipeline. This ambitious infrastructure project is designed to transport the nation’s substantial natural gas reserves to European markets, marking a significant step in international energy collaboration. In an official statement released on Friday, Louis Ibah, spokesperson for the Minister […]

In a significant policy shift aimed at calming volatile global energy markets, the United States Department of the Treasury has issued a general license authorizing the sale of Iranian oil and petrochemical products. This temporary measure, reported by Bloomberg, is a direct response to the surge in crude prices driven by escalating geopolitical conflicts and […]

A federal jury in the United States has delivered a significant verdict, finding billionaire entrepreneur Elon Musk liable for investor losses tied to his public statements during the contentious acquisition of Twitter, now known as X. The ruling underscores the legal responsibilities of corporate leaders in their public communications. The decision, reached in the U.S. […]

BUA Cement Plc has sustained a significant share price appreciation into 2026, driving its market valuation upward as investors demonstrate confidence in the firm’s growth trajectory. The stock, which concluded 2025 at N178.50, has advanced to N270, marking a year-to-date gain of 51.3%. This rally extends a robust performance from the prior year, where the […]

The Nigerian equity market is experiencing a period of remarkable momentum, yet a closer examination suggests investors should proceed with measured caution. Following a year of gains exceeding fifty percent, equities have already advanced approximately 27.5 percent year-to-date. Should the most optimistic forecasts materialize, the market could be poised for another significant rally before year-end. […]

The Centre for the Promotion of Private Enterprise (CPPE) has issued a stark warning regarding the sustainability of Nigeria’s small and medium-scale enterprises (SMEs) in the face of a severe energy price surge. In a recent policy brief, the organization detailed how escalating costs are critically increasing operational expenses, thereby threatening the viability of numerous […]

In a significant diplomatic engagement, French President Emmanuel Macron held a direct conversation with Iranian President Massoud Pezeshkian, delivering a firm demand for an immediate cessation of what he termed “unacceptable attacks” emanating from Iran or its allied groups across the Middle East. The dialogue, disclosed by Macron in a formal statement on the social […]

In a decisive move to safeguard critical national infrastructure, a joint security operation near Akure Airport has led to the arrest of four suspected bandits. The Federal Airports Authority of Nigeria (FAAN) confirmed the development in an official statement dated March 15, 2026, signed by its spokesperson, Henry Agbeberi. The operation was initiated after security […]

The Nigerian Exchange Limited (NGX) has extended its suspension of trading in Zichis Agro-Allied Industries Plc into a third week. This decisive regulatory action follows an unprecedented surge in the company’s share price, which skyrocketed by over 800% within just one month of its initial listing. Listing and Meteoric Rise Zichis Agro-Allied Industries was admitted […]

VFD Group Plc has announced it will return surplus subscription funds totaling N1.83 billion to shareholders following the completion of its N50.6 billion rights issue. The refund is necessitated by excess payments made by eleven shareholders during the subscription process, as detailed in the company’s official allotment document. The document, confirmed on Wednesday, March 11, […]

Oando Plc has formally notified the market of a potential delay in the publication of its audited financial statements for the fiscal year 2025. The company cites complexities arising from its recent major acquisition as the primary cause, a situation that underscores how significant corporate actions can impact reporting timelines. The integration of new software […]

President Bola Ahmed Tinubu has formally nominated Lamido Abubakar Yuguda, the former Director-General of the Securities and Exchange Commission (SEC), for the position of Deputy Governor at the Central Bank of Nigeria (CBN). This significant nomination, announced by the Presidency on March 11, 2026, now awaits the requisite confirmation by the Nigerian Senate to become […]

The Nigerian equities market closed marginally lower on Wednesday, March 11, 2026, as cautious trading prevailed. The benchmark All-Share Index declined by 0.09%, shedding 167.6 points to settle at 195,898.5 points. This movement pushed the index below the 196,000-point threshold, reflecting a slowdown in overall market activity. Total trading volume for the session fell to […]

Meyer Plc has ushered in a new era of leadership with the appointment of Engr. Goodwill Sunday Asade as its Managing Director and Chief Executive Officer, effective March 3, 2026. The listed manufacturer formally disclosed this strategic decision in a notification to the Nigerian Exchange Limited and its shareholders, marking a pivotal moment for the […]

Nigeria’s finance and insurance sector demonstrated remarkable resilience and expansion in 2025, according to official data. The National Bureau of Statistics (NBS) reported the sector achieved a 14.54% annual growth rate, a significant acceleration from the 2.95% growth recorded in 2024. This robust performance underscores the sector’s critical role in the nation’s economic landscape. The […]

NGX Group Plc has announced a robust financial performance for the year ended December 2025, reporting a profit before tax of N15.55 billion. This strong result underscores the Group’s pivotal role in Nigeria’s capital markets, a sector that continues to attract significant attention amidst broader national developments, such as Fg Inaugurates Committees to drive economic […]

Nigerian Exchange Group Plc (NGX Group) has announced a robust set of audited financial results for the fiscal year ending 31 December 2025, reporting a significant profit of ₦15.6 billion. The Group’s performance, characterized by double-digit revenue growth and enhanced operating margins, demonstrates resilience within a challenging macroeconomic landscape. This financial strength is further underscored […]

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 […]