Africa Finance Corporation (AFC) said it acted as co-financial adviser on the successful issuance of the inaugural tranche of bonds under the Federal Government of Nigeria’s Presidential Power Sector Financial Reforms Programme (PPSFRP). The corporation disclosed this in a statement issued on Tuesday, February 3. According to AFC, the first tranche of the bond, valued …
Conoil Plc posted a steep drop in profit in 2025 as rising borrowing costs, liquidity pressure, and mounting debt erased gains from a larger asset base. A review of its unaudited financial statement for the year ended December 31, 2025 revealed that the company’s profit before tax plunged by 77 per cent to ₦2.53 billion …
For years, Nigeria’s economic debates have revolved around oil prices, exchange rates and inflation. Yet beneath these top issues lies a quieter system that determines whether food reaches markets, medicines reach hospitals, and factories remain open- the supply chain. A new report by Rome Business School Nigeria (RBSN) argues that Nigeria’s weak and fragmented supply …
The Nigeria Governors’ Forum (NGF) has agreed to prioritise sugar as a key product for industrial growth in states across the country. The Forum also resolved to include sugar projects as key beneficiaries in its engagements with development partners within and outside Nigeria. The move aims to boost agro-industrial development and reduce the country’s reliance …
The National Pension Commission (PenCom) has launched a self-service online data recapture application known as the Data Recapture Self-Service Platform (PENCAP). It unveiled the platform on Sunday, February 1, according to a statement from the Commission. The platform will enable Retirement Savings Account (RSA) holders to remotely update their personal records (recapture) without necessarily visiting …
Oando Plc posted a significantly higher income tax credit of ₦226.1 billion in 2025 from ₦163.7 billion the previous year, amid concerns over the company's weaker operations and financial position. A review of its 2025 audited financial statement released on Sunday, February 1, shows that the tax credit boosted Oando’s profit for the year, despite …
The Nigerian National Petroleum Company (NNPC) Limited has launched its Gas Master Plan (GMP) 2026, aimed at accelerating gas production and attracting billions of dollars in new investments across the oil and gas value chain. The gas master plan, tagged NGMP 2026, was formally unveiled on Friday, January 30, at the NNPC Towers in Abuja. …
Dangote Petroleum Refinery has reaffirmed its capacity to supply massive volumes of petroleum products, including Premium Motor Spirit (PMS), also known as petrol, Automotive Gas Oil (diesel) and aviation fuel, effectively positioning itself to meet and exceed Nigeria’s total domestic demand. In an update shared on Thursday, January 29, the 650,000-barrel-per-day refinery said it can …
The Nigerian Exchange Limited (NGX) has granted 24 months for Multi-Trex Integrated Foods Plc to comply with the free float requirement. Multi-Trex disclosed this in a statement on Thursday signed by its Secretary, Sogunle Adebisi Adekunle. It said the approval followed its application to the NGX for additional time to meet the prescribed free float …
DHL Aviation has expanded its logistics capacity in Nigeria with the deployment of two fully branded Boeing 737-400 cargo aircraft, reinforcing its air freight network across West Africa. The aircraft were unveiled at the Murtala Muhammed International Airport, Lagos, as part of DHL’s broader investment in strengthening logistics infrastructure across Sub-Saharan Africa. In a statement, …
