The Centre for the Promotion of Private Enterprise (CPPE) has called on the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to tie petrol import approvals to independently verified domestic supply gaps, warning that rising imports could undermine Nigeria’s growing refining capacity. The group, in a policy brief issued on Sunday by its Chief Executive …
Nigeria’s improving economic indicators could come under pressure in the fourth quarter of the year as rising political spending ahead of the 2027 general elections tests the gains made in foreign exchange stability, inflation and liquidity management. According to economic policy analyst Dr Felix Ijeh, Nigeria is entering the final quarter of the year with …
Nigeria’s 50 per cent telecom tariff increase has delivered a sharp improvement in revenue and profitability for the telecommunications operators, but their spending patterns show a clear difference in how the additional earnings are being deployed. A review of available financial results shows Airtel Nigeria has accelerated network investment, while MTN Nigeria has taken a …
Universal Insurance Plc has approached the Federal High Court in Lagos to challenge the purported cancellation of its operating licence by the National Insurance Commission (NAICOM) and the appointment of a receiver/manager. The company disclosed this in a statement signed by its company secretary, Chinedu Onyilimba, on Tuesday, August 25, 2026, notifying shareholders and the …
MTN Group is exploring banking licences in some of its African markets as the telecommunications giant seeks to expand its lending business and use its balance sheet to provide loans directly to customers. MTN Group chief executive officer, Ralph Mupita, disclosed this on Tuesday while speaking with journalists. He said the proposed banking model would …
Corporate Accountability and Public Participation Africa (CAPPA) has filed a Freedom of Information request with the National Assembly seeking comprehensive legislative records on the National Tobacco Control Act (Amendment) Bill, 2025, amid concerns that proposed changes could weaken Nigeria’s tobacco-control safeguards. CAPPA, in a statement on Tuesday, said its request, dated August 13 and addressed …
Presco Plc has won its appeal against a Federal High Court ruling that placed interlocutory restrictions on its 2025 Annual General Meeting (AGM), rights issue, and the recognition of its corporate actions by regulators. The Court of Appeal, Benin Judicial Division, on August 21, 2026, allowed Presco’s appeal in its entirety and set aside the …
The African Export-Import Bank (Afreximbank) and its subsidiaries increased net income by 30 per cent to $534.7 million in the first half of 2026, as stronger lending and higher interest income drove a robust financial performance. Net income rose from $412.7 million recorded in the corresponding period of 2025, while net interest income increased by …
First HoldCo Plc, FCMB Group Plc and Sterling Financial appear to be taking a more cautious approach to deploying fresh capital after Nigeria’s bank recapitalisation, with equity growth outpacing loan expansion in the first half of 2026, while Wema Bank moved more aggressively into lending. The divergence among the four banks raises an early question …
The Centre for the Promotion of Private Enterprise (CPPE) and the Alliance for Economic Research and Ethics have broadly acknowledged the gains recorded by the Federal Government under its economic reform programme, but both groups said the scorecard presented by Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, should not be judged only …
