The Nigerian Exchange (NGX) extended its bearish run as investors lost N265 billion in market value, deepening concerns over persistent sell-offs and weak market sentiment. The downturn, which has affected several key sectors, reflects growing investor caution amid economic uncertainties and global financial pressures. The latest decline saw the NGX All-Share Index drop further, erasing gains recorded earlier in the year. Analysts attribute the losses to profit-taking by investors, concerns over inflation, and fluctuations in foreign exchange rates. The banking, consumer goods, and industrial sectors were among the hardest hit, with major stocks recording price declines. Market watchers suggest that…
Author: Temitope N.
Artificial Intelligence (AI) is revolutionizing the marketing landscape, reshaping how businesses engage with consumers, analyze data, and optimize campaigns. As AI-driven tools become more advanced, companies are leveraging machine learning, automation, and predictive analytics to create highly personalized and efficient marketing strategies. One of the most significant changes AI brings to marketing is enhanced customer targeting. With AI-powered algorithms, businesses can analyze vast amounts of consumer data to identify patterns, preferences, and behaviors. This allows brands to deliver tailored content, recommend products, and anticipate customer needs with unprecedented accuracy. AI is also transforming content creation and management. Automated tools can…
South Africa has been recognized as a rising force in the global iGaming industry, with experts predicting significant growth in the sector throughout 2025. As online gambling gains momentum worldwide, South Africa’s regulatory advancements, increasing internet penetration, and growing player base have positioned it as a key market to watch. The country’s iGaming sector has seen a surge in activity, driven by the widespread use of mobile devices and improved access to digital payment solutions. With more players embracing online casinos, sports betting, and esports wagering, operators are expanding their presence in the region to tap into this lucrative market.…
Maggi, the popular seasoning brand under Nestlé, has launched a special campaign titled Tales of Ramadan to celebrate the rich traditions and cultural heritage associated with the holy month. The initiative aims to connect with consumers by sharing inspiring stories, recipes, and experiences that highlight the essence of Ramadan. As a brand deeply rooted in food culture, Maggi’s Tales of Ramadan focuses on the importance of home-cooked meals, family gatherings, and the role of food in fostering togetherness during the fasting period. The campaign features a mix of storytelling, digital content, and community engagement to create a meaningful Ramadan experience…
Nigeria’s Minister of Marine and Blue Economy, Adegboyega Oyetola, has called on African nations to take a leading role in the global push for green shipping and decarbonisation. Speaking at an industry forum, Oyetola emphasized the need for Africa to develop sustainable maritime practices that align with international efforts to reduce carbon emissions in the shipping sector. With the global maritime industry under increasing pressure to transition to cleaner energy sources, Oyetola stressed that African countries must not be left behind. He highlighted the importance of investing in alternative fuels, energy-efficient vessel technologies, and green port infrastructure to ensure the…
Ultimate Health HMO has reinforced its leadership team by appointing female directors to its board, a move aimed at enhancing diversity and strengthening corporate governance within the organization. The appointments reflect the company’s commitment to gender inclusion and strategic leadership in Nigeria’s healthcare sector. With the healthcare industry evolving rapidly, Ultimate Health HMO believes that incorporating diverse perspectives at the board level will drive innovation and improve decision-making. The newly appointed directors bring extensive experience in healthcare management, finance, and corporate strategy, positioning the company for continued growth. Industry analysts have praised the move, emphasizing the importance of gender diversity…
Transnational Corporation Plc (Transcorp) has reached a market capitalization of N2.97 trillion, marking a significant milestone for the conglomerate as it continues its growth trajectory across key sectors. The surge in market value reflects strong investor confidence in the company’s strategic direction, particularly in its power, hospitality, and energy businesses. Driven by positive earnings reports and expansion plans, Transcorp’s stock has experienced steady gains, contributing to its impressive valuation on the Nigerian Exchange (NGX). Analysts attribute the company’s strong performance to its diversified portfolio, operational efficiency, and sustained investments in key sectors of the economy. As part of its expansion…
Aviation professionals in Nigeria are renewing calls for the establishment of a national carrier, citing the need for a reliable, homegrown airline to boost the country’s aviation sector. Industry stakeholders argue that a national carrier would enhance connectivity, reduce reliance on foreign airlines, and support economic growth by creating jobs and fostering tourism. The push for a national airline has gained momentum following concerns over high ticket prices, limited international flight options, and the dominance of foreign carriers in Nigeria’s airspace. Experts believe that a well-managed national carrier could provide competitive fares, improve service quality, and position Nigeria as a…
A leading vehicle assembly company has announced plans to adopt the automobile department of a Lagos-based technical college, aiming to enhance technical education and equip students with industry-relevant skills. The initiative is part of the company’s corporate social responsibility efforts to bridge the skills gap in Nigeria’s automotive sector and nurture the next generation of professionals. Under this partnership, the vehicle assembler will provide modern equipment, hands-on training, and industry exposure to students. Experts from the company will also conduct workshops, mentorship programs, and practical sessions to ensure that students gain real-world experience in vehicle assembly, diagnostics, and repairs. The…
A professional institute has joined forces with a leading agency to celebrate Managers’ Appreciation Day, an initiative aimed at recognizing the contributions of managers across various industries. The partnership seeks to highlight the critical role that managers play in driving organizational success, fostering teamwork, and enhancing productivity. The event, which will feature a series of activities including workshops, award presentations, and networking sessions, is designed to honor managers who have demonstrated exceptional leadership and dedication in their fields. Experts from different sectors will also share insights on effective management practices and the evolving role of leadership in today’s dynamic business…
Nigeria’s Minister of Finance has reaffirmed the government’s commitment to supporting the private sector as a key driver of economic growth. In a high-level meeting with business magnate Aliko Dangote, the minister discussed strategies to improve the business climate, enhance investment opportunities, and strengthen collaboration between the government and private enterprises. During the meeting, the minister acknowledged the challenges faced by businesses, including inflation, foreign exchange volatility, and infrastructure deficits. He assured that the government is working on policy reforms to create a more stable economic environment that encourages private sector participation in critical sectors such as manufacturing, agriculture, and…
The Nigeria Customs Service (NCS) has intercepted undeclared foreign currencies amounting to $1.1 million and 135,900 Saudi riyals (SR) at the Mallam Aminu Kano International Airport. The seizure was made during routine checks by customs officers, highlighting ongoing efforts to curb illegal financial movements through the country’s airports. According to customs officials, the foreign currencies were discovered in the luggage of passengers attempting to travel without declaring the funds, as required by financial regulations. The intercepted cash has been handed over to relevant authorities for further investigation, with officials looking into possible violations of anti-money laundering laws. The NCS has…
The Nigerian Electricity Regulatory Commission (NERC) has granted approval for Plateau State to regulate its electricity market, marking a significant step toward improving power supply and distribution in the state. This move aligns with Nigeria’s ongoing efforts to decentralize electricity regulation, allowing states to take greater control over their energy sectors. With this order, Plateau State now has the authority to oversee electricity generation, distribution, and supply within its jurisdiction. The decision is expected to enhance efficiency, attract investment, and address long-standing challenges in power delivery. It also empowers the state government to create policies that suit its unique electricity…
Kenya Airways has recorded a significant increase in its Nigerian passenger traffic, adding 10,000 more travelers in 2024. The growth reflects the rising demand for air travel between Nigeria and Kenya, as well as the airline’s strategic efforts to enhance connectivity and service offerings in the West African market. According to industry sources, the increase is driven by improved flight schedules, competitive fares, and enhanced passenger experience. The airline has also benefited from growing business and tourism ties between the two countries, with more Nigerians choosing Kenya as a travel destination for leisure, conferences, and business engagements. Kenya Airways’ commitment…
The Dangote Refinery has received fresh crude oil shipments from the Nigerian National Petroleum Company Limited (NNPCL), further strengthening its supply chain as it ramps up production. The latest deliveries underscore the collaboration between the refinery and Nigeria’s state-owned oil company to ensure a steady supply of feedstock for domestic refining. Industry sources indicate that the crude cargoes were sourced from local oil fields and delivered as part of ongoing efforts to support the refinery’s operations. The Dangote Refinery, which has a capacity of 650,000 barrels per day, is expected to play a key role in reducing Nigeria’s reliance on…
Aero Contractors has announced the expansion of its Maintenance, Repair, and Overhaul (MRO) facility, positioning itself as a one-stop service hub for aircraft maintenance in Nigeria and the wider West African region. The move is aimed at enhancing the airline’s capacity to provide comprehensive maintenance solutions, reducing the reliance on foreign repair facilities and cutting operational costs for airlines operating in the region. The expansion comes as part of Aero Contractors’ strategic plan to strengthen its position in the aviation sector by offering world-class MRO services. With more airlines seeking cost-effective and efficient maintenance solutions, the airline believes its upgraded…
A major power outage has hit Rivers and Bayelsa states following the collapse of electricity transmission towers, leaving residents and businesses in darkness. The incident, which occurred along a key transmission corridor, has severely disrupted power supply in the affected areas. According to the Transmission Company of Nigeria (TCN), the collapse was caused by suspected acts of vandalism, structural failure, or adverse weather conditions. Officials have since deployed engineers to assess the damage and begin restoration efforts, but no timeline has been given for the full restoration of power. The blackout has already impacted economic activities, with businesses that rely…
A leading cryptocurrency expert has stated that improved regulatory frameworks will significantly boost crypto investments in Nigeria, making the sector more attractive to institutional and retail investors. The CEO, speaking at a fintech forum, emphasized that clear policies and investor protection measures would foster trust and drive wider adoption of digital assets in the country. Nigeria remains one of the largest crypto markets in Africa, with millions of users trading digital currencies despite regulatory uncertainty. However, inconsistent policies and restrictions on crypto-related transactions by financial institutions have created hurdles for both investors and businesses operating in the space. The CEO…
Cedrus Group has announced a strategic partnership with RusselSmith, a leading integrated oilfield services company, for the issuance of a N3 billion commercial paper. The move is aimed at raising short-term capital to support RusselSmith’s expansion and operational needs, particularly in the energy sector. The commercial paper issuance is part of Cedrus Group’s broader commitment to facilitating access to funding for Nigerian businesses. By leveraging its financial expertise, Cedrus is helping RusselSmith secure cost-effective financing to enhance its service delivery and expand its footprint in the oil and gas industry. The funds raised will be used to optimize operations, invest…
Inflation continues to take a heavy toll on Nigerians, eroding purchasing power, increasing the cost of living, and deepening economic hardship for millions. As prices of essential goods and services soar, many households are struggling to afford basic necessities, pushing more people into financial distress. One of the most immediate impacts of inflation is the rising cost of food. Staple items such as rice, bread, and cooking oil have seen significant price hikes, making it difficult for families to maintain a balanced diet. Many Nigerians now spend a larger portion of their income on food, leaving little room for savings…