Presco Plc said its recent rights issue was 103 per cent subscribed, highlighting solid investor backing and confidence in the company’s strategic direction and growth outlook. A fully integrated edible oils and fats company, Presco, announced this in a statement on Wednesday, signed by its Secretary, Frederick Ichekwai. It stated that the Rights Issue attracting …
Heirs Energies has acquired the entire 20.07 per cent equity stake previously held by Maurel & Prom S.A. in Seplat Energy Plc. The transaction was reportedly valued at $500 million at a price of GBP 3.05 pence per share, amounting to 120.4 million ordinary shares. Pinnacle Daily reported that Heirs Energies recently secured a $750 …
NIPCO Plc has proposed a new deal to raise its stake in Savannah Energy Plc to about 26.5 per cent. The deal intends to terminate the off-market share buyback agreement announced earlier on October 22 this year and approved by shareholders on November 28. Savannah Energy announced on Tuesday, December 30, its plans to enter …
Billionaire businessman Femi Otedola has exited his shareholding in Geregu Power Plc through a deal reportedly worth around $750 million. The transaction was concluded on December 29 2025 and until the completion of the share sale, he was the majority owner of the Lagos-quoted firm. The serial investor, who was also the chairman of Geregu …
At the close of trading on Monday, December 29, the Nigerian stock market’s All-Share Index (ASI) rebounded to a 50 per cent year-to-date return. It marked its first recovery to that level since October 28, 2025. The upward trajectory saw the ASI rise by 0.55 per cent to close at 154,389.53 points. Similarly, the market …
Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has clarified that the new tax law is intended to support rather than harm the aviation industry. His clarification follows a recent claim by the Chief Executive Officer of Air Peace, Allen Onyema, that the reform will hurt the industry. Contrary to misconceptions, …
Borrowings by states and local governments from commercial banks fell to ₦2.13 trillion in June 2025, down from ₦2.68 trillion a year earlier. This represents a reduction of about ₦547.5 billion, or 20.4 per cent, in the review period. In a report on Monday, the CSL research firm said the trend reflects a deliberate effort …
The Dangote Cement Plc said it has tripled its scholarship fund for its host communities in Gboko, Benue State, awarding over ₦28 million. The company's Plant Director, Gboko Plant, Abhijit Dutta, who was represented by the Head of the Finance Department, Olusegun Orebanjo, said at the presentation of the cheque in Gboko. “This year’s scholarship …
Nigeria’s economy is expected to make a clearer transition from stabilisation to growth, based on projections by the Centre for the Promotion of Private Enterprise (CPPE). The centre made the forecast in its 2026 economic outlook issued by its Chief Executive Officer, Muda Yusuf, on Sunday. The non-governmental organisation, which focuses on promoting, protecting, and …
One of the pertinent worries that has trailed the Christmas Day fire incident at the popular Balogun Market in Lagos State is whether the buildings affected were insured. Pinnacle Daily reported that the fire, which destroyed the Great Nigeria Insurance House on Martins Street, Lagos Island, broke out at about 5 p.m. on Wednesday. LASEMA and …
