Nigeria’s electricity supply to the country’s eleven Distribution Companies (DisCos) has surged to 4,871 megawatts (MW), marking one of the highest levels recorded in 2025 and signaling gradual improvement in national power generation and distribution. The increase, industry experts say, reflects the combined effect of enhanced generation capacity, improved grid stability, and ongoing efforts by the federal government to reform the power sector for efficient energy delivery. According to data released by the Nigerian Electricity System Operator (NESO), the grid recorded an average of 4,871MW supplied to the DisCos, compared to less than 4,000MW earlier in the year. The development…
Author: Temitope N.
The Nigerian Exchange Group (NGX) has recorded an impressive 37.7 percent increase in its total market capitalisation, reaching N141.75 trillion as of the end of the third quarter of 2025. This surge marks one of the most significant expansions in Nigeria’s capital market history and underscores renewed investor confidence, driven by strong corporate earnings, improved economic outlook, and reforms in the financial sector. Market analysts attribute the performance to increased participation from both local and foreign investors, a resurgence in blue-chip stock trading, and the listing of major companies and sovereign instruments that boosted overall market value. The rise, according…
African business leaders have been called upon to strengthen collaboration and foster strategic partnerships that can drive sustainable economic growth across the continent under the African Continental Free Trade Area (AfCFTA) framework. This appeal was made during a high-level forum attended by political leaders, corporate executives, and development partners who emphasized that private sector unity remains essential for unlocking Africa’s vast economic potential. The conference, held in Addis Ababa, Ethiopia, brought together top executives from major African corporations, policymakers, and representatives of regional trade blocs to deliberate on how to leverage AfCFTA to accelerate industrialization, boost intra-African trade, and promote…
BUA Cement Plc has reported a remarkable profit of N289.9 billion for the nine-month period ended September 2025, representing a significant leap in its earnings and reinforcing its position as one of Nigeria’s most profitable manufacturing firms. The strong performance is attributed to improved operational efficiency, increased production capacity, and a sustained rise in domestic demand for cement, particularly from the infrastructure and construction sectors. According to the company’s latest unaudited financial statement released to the Nigerian Exchange (NGX), revenue surged considerably on the back of higher sales volumes and strategic pricing adjustments that helped cushion the impact of inflation…
The federal government has called on state governments to take advantage of the new electricity framework by establishing their own power generation and distribution companies to address persistent blackouts across the country. The move, officials say, is part of efforts to decentralize electricity management, boost energy access, and accelerate national development through localized solutions. Minister of Power, Chief Adebayo Adelabu, made the call during a stakeholders’ engagement on Nigeria’s power reform agenda in Abuja. He emphasized that the 2023 Electricity Act provides states with full legislative and operational powers to generate, transmit, and distribute electricity within their jurisdictions — an…
Seplat Energy Plc, through its joint venture with the Nigerian National Petroleum Company Exploration and Production Limited (NNPC E&P Ltd), has awarded scholarships worth N18 million to students from Edo and Delta States as part of its commitment to human capital development and educational empowerment. The initiative, under the Seplat JV Scholarship Scheme, continues to provide financial assistance to exceptional students in host communities, promoting access to quality education and fostering social development. The scholarship awards, presented during a ceremony in Benin City, highlight the company’s dedication to supporting young Nigerians and strengthening local capacity through sustainable education-driven initiatives. The…
The Central Bank of Nigeria (CBN) has injected $1.25 billion into the economy to support fuel imports and other critical sectors, a move aimed at stabilizing the foreign exchange market and ensuring adequate supply of essential commodities. The intervention, which comes amid growing pressure on the naira and persistent energy supply challenges, underscores the apex bank’s renewed efforts to enhance market liquidity and sustain macroeconomic stability. A senior official of the CBN, who confirmed the development, said the dollar injection was strategically directed toward fuel importers, manufacturers, and key industries that rely heavily on foreign exchange for production and distribution.…
The Federal Government of Nigeria has announced the listing of N260 billion worth of bonds for its October 2025 auction, signaling continued efforts to deepen the domestic debt market, enhance liquidity, and attract long-term investments. The Debt Management Office (DMO), which disclosed the development, said the auction forms part of the government’s regular borrowing program to finance budgetary obligations and infrastructure projects while promoting a vibrant bond market that supports economic growth. According to the DMO, the issuance is structured to attract a wide range of investors, including pension funds, insurance firms, asset managers, banks, and individual investors seeking stable,…
The Federal Inland Revenue Service (FIRS) has announced that its sweeping tax reforms have successfully reshaped Nigeria’s tax administration ecosystem, improving efficiency, transparency, and compliance while expanding the nation’s revenue base. According to the agency, the recent structural and digital reforms have not only streamlined tax collection processes but also positioned FIRS as one of the most technologically advanced revenue agencies in Africa. Speaking in Abuja, the Executive Chairman of FIRS, Dr. Zacch Adedeji, stated that the ongoing transformation of the Service is anchored on innovation, collaboration, and simplification of tax processes. He noted that through strategic reforms, the FIRS…
The Nigerian Exchange Group (NGX Group) has intensified its commitment to promoting gender inclusion in Nigeria’s capital market by engaging women on investment education, wealth creation, and financial literacy. The initiative, which took place at the NGX headquarters in Lagos, brought together women entrepreneurs, professionals, and investors to discuss the importance of participation in the nation’s investment ecosystem and explore strategies to bridge the gender gap in financial markets. The event, themed “Empowering Women Through Investment,” was part of NGX’s broader effort to promote inclusive finance and sustainable economic development. It featured keynote addresses, interactive sessions, and mentorship dialogues designed…
Meta, the parent company of Facebook, Instagram, and WhatsApp, has hosted an Online Safety Summit focused on promoting safer digital experiences and empowering users—especially young people—to navigate the internet responsibly. The summit, held in Lagos, brought together educators, policymakers, digital experts, and civil society leaders to discuss emerging online risks and explore strategies for building a more secure digital ecosystem across Nigeria and Africa. The event formed part of Meta’s global effort to enhance digital literacy and protect users from cyber threats, misinformation, and online abuse. Speaking at the summit, Meta’s Head of Public Policy for West and Central Africa,…
The management of Dangote Refinery has redeployed a group of engineers recently dismissed following a dispute involving the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) to other company projects located across states including Borno, Zamfara, and Cross River. The move comes amid efforts by the company to ease tensions and maintain operational stability following weeks of controversy surrounding staff disengagement at the refinery complex in Ibeju-Lekki, Lagos. According to company sources, the redeployment was part of a broader restructuring plan aimed at ensuring optimal manpower utilization across Dangote Industries’ various energy and infrastructure projects. The decision, insiders…
Telecommunications giant MTN Nigeria has reiterated its commitment to empowering accountants and finance professionals through the adoption of digital tools and innovative technologies aimed at improving efficiency, accuracy, and productivity in the financial sector. The company stated that embracing digital transformation within the accounting profession is essential for driving sustainable business growth and aligning with global best practices. Speaking during the 2025 edition of the Institute of Chartered Accountants of Nigeria (ICAN) Annual Accountants’ Conference in Abuja, MTN Nigeria’s Chief Enterprise Business Officer, Lynda Saint-Nwafor, highlighted the company’s role in supporting professionals across industries through tailored digital solutions. She emphasized…
Transnational Corporation Plc (Transcorp Group) has announced a significant 39 percent increase in its revenue, driven by the outstanding performance of its power and hospitality subsidiaries. The conglomerate’s latest financial report reflects the resilience and strategic strength of its diversified portfolio, which continues to perform strongly despite Nigeria’s volatile economic conditions. According to the company’s unaudited financial statement for the nine months ending September 2025, Transcorp recorded total revenue of ₦413.4 billion, up from ₦297.4 billion in the same period of 2024. This sharp rise in earnings highlights the company’s success in optimizing operations across its subsidiaries, particularly in the…
The National Inland Waterways Authority (NIWA) has identified ballast water discharged from ships and other marine vessels as a major factor responsible for the persistent spread of water hyacinth across Nigeria’s inland waterways. The agency said the increasing infestation of the invasive aquatic plant, which continues to threaten navigation, fishing, and environmental sustainability, is largely linked to human activities associated with maritime transport. Speaking in Lokoja during a stakeholders’ engagement on environmental protection and inland waterways management, the Managing Director of NIWA, Bola Oyebamiji, explained that the uncontrolled discharge of ballast water by foreign and local vessels had introduced water…
Transnational Corporation Plc (Transcorp Group) has announced a remarkable revenue of ₦413.4 billion for the nine months ending September 2025, reflecting the group’s continued growth trajectory across its power, energy, and hospitality businesses. The conglomerate’s latest financial report underscores its resilience and strategic diversification in Nigeria’s challenging economic environment. According to the unaudited results released to the Nigerian Exchange Limited (NGX), Transcorp recorded significant growth in revenue, driven primarily by its power generation and hospitality segments. The performance represents a substantial year-on-year increase compared to the ₦291.2 billion recorded during the same period in 2024. The company’s Group Chief Executive…
First City Monument Bank (FCMB) Group Plc has unveiled a ₦160 billion public offer designed to reinforce its capital base and enhance the long-term resilience of the institution. The move comes as part of the bank’s ongoing recapitalisation plan and aligns with the Central Bank of Nigeria’s directive for stronger capitalisation among Nigerian banks. During an investors’ presentation at the Nigerian Exchange Limited (NGX), FCMB’s Group Chief Executive Officer, Ladi Balogun, said the capital raise is a strategic step to ensure the bank remains well-positioned to meet regulatory requirements and drive sustainable growth across its diverse business segments. He emphasised…
The Nigerian Exchange (NGX) closed the week on a negative note as investors engaged in profit-taking on major blue-chip stocks, resulting in a market capitalisation decline of ₦94 billion. The dip came after a strong run of gains recorded in previous sessions, signalling a momentary slowdown as investors moved to lock in returns amid shifting market sentiment. Market data from the NGX showed that the All-Share Index (ASI) fell marginally by 0.24 per cent, closing at 102,715.92 basis points, while overall market capitalisation dipped from ₦58.72 trillion to ₦58.63 trillion. Analysts attributed the decline largely to selloffs in highly capitalised…
Lafarge Africa Plc has announced a remarkable 246 percent increase in its net profit, reaching N207.8 billion for the nine months ending September 2025, signalling one of the company’s strongest financial performances in recent years. The cement manufacturer attributed the surge in profitability to efficient cost management, rising product demand, and improved operational strategies across its production plants nationwide. In its unaudited financial statement released to the Nigerian Exchange Limited (NGX), Lafarge Africa revealed that its revenue rose significantly during the review period, driven by strong market demand for cement and related products despite inflationary pressures and exchange rate volatility…
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has declared that the nation’s economic recovery has officially begun, following months of consistent policy reforms and fiscal adjustments introduced by the administration of President Bola Ahmed Tinubu. Speaking during a recent media briefing in Abuja, Edun said key indicators show that Nigeria’s economy is gradually regaining stability, with growth driven by renewed investor confidence, foreign exchange reforms, and improvements in fiscal management. According to the minister, several measures introduced in the past year have started yielding positive results, including the removal of fuel subsidies, foreign exchange market…