The Alliance for Economic Research and Ethics has warned that Nigeria's growing number of ministries, departments, and agencies (MDAs) is hurting businesses, discouraging investment, and weakening the economy, calling for the urgent implementation of long-delayed public sector reforms. The group raised the concerns while reacting to a recent sealing of three soya milk factories in …
Dangote Cement Plc has secured an upgrade to its long-term credit rating from AA to AA+ following its strong financial performance in 2025. DataPro announced the upgrade in a statement released on Tuesday, citing Dangote Cement's resilient earnings, solid financial position and market leadership despite challenging economic conditions. While affirming the cement manufacturer's short-term rating …
The Alliance for Economic Research and Ethics has called on the Central Bank of Nigeria (CBN) to urgently clear the outstanding $2.4 billion foreign exchange forward contract backlog owed to manufacturers. The group stressed that the unresolved obligations are undermining confidence, weakening industrial growth, and threatening the country's economic transformation. It made the call in …
The Centre for the Promotion of Private Enterprise (CPPE) has warned that growing calls for unrestricted importation of petroleum products could push Nigeria towards deindustrialisation, weaken domestic industries and deepen the country’s economic dependence on imports. In a statement on Sunday signed by its Chief Executive Officer, Muda Yusuf, the group argued that Nigeria risks …
Dangote Cement Plc has said it is considering a potential secondary listing on the London Stock Exchange (LSE) as part of efforts to deepen its access to international capital markets. The company disclosed the development in a statement to the investing public on Wednesday, signed by its Company Secretary, Edward Imoedemhe, following an emergency board …
Dangote Cement, BUA Cement and Lafarge Africa recorded strong profit growth of up to 117 per cent in the first quarter of 2026, as rising revenue and improved efficiency lifted their earnings compared to the same period in 2025. A review of the financial statements of cement giants for the period ended March 31, 2026, …
Presco and Okomu Oil Palm Company posted strong growth in the first quarter of 2026, but their performance shows a clear difference in how each company manages debt and runs its operations. A review of the Q1 financial results by Pinnacle Daily shows that Presco emerged stronger in efficiency and debt control. The company grew …
The company said shareholders approved the plan to raise capital through the issuance of ordinary shares at its 20th Annual General Meeting held in Lagos, according to a statement on Monday signed by the company secretary, Temitope Hassan. Subject to regulatory approval, the move is aimed at strengthening the company’s capital base and positioning …
Champion Breweries Plc said it has commenced the sale of shares valued at N15.91 billion to existing shareholders, hinting that the proceeds will be utilised to fund the strategic acquisition of the Bullet brand. The company announced this in a notification to the investing public on Tuesday, November 25, signed by its Company Secretary, Tosan …
Dangote Cement Plc reported a 23.2 per cent increase in revenue to approximately ₦3.16 trillion for the nine months of the year despite recording a steep decline in volume of sales. The cement giant reported this in its unaudited results for the nine months ended September 30, 2025. A review of the results shows that …
