As Nigerian electricity Distribution Companies (DisCos) prepare to renew their operational licences in 2028, the federal government has announced plans to introduce a minimum capital adequacy requirement. Minister of Power, Adebayo Adelabu, who made this known at the Nigeria Energy Forum in Lagos, said the aim is to strengthen the financial health of DisCos and boost …
The House of Representatives has approved President Bola Tinubu’s request to borrow $2.35 billion to finance part of the 2025 budget deficit. The lawmakers also gave the green light for the issuance of a $500 million debut sovereign sukuk in the international capital market to fund key infrastructure projects and broaden Nigeria’s financing sources. The …
Special assistant on media and public affairs to former minister of state for petroleum, Chief Timipre Sylva, Chief Julius Bokoru, has dismissed rumours linking his principal to any coup plot in Nigeria, describing the claims as baseless and politically motivated. In a statement released on Wednesday, Bokoru said some desperate and self-centred politicians were behind …
Nigeria’s newly appointed service chiefs formally assumed office in Abuja on Thursday, pledging renewed determination to tackle terrorism, banditry, and other security threats confronting the nation. Their assumption of duty follows unanimous confirmation by the National Assembly on Wednesday. Those now taking charge include: READ ALSO: Senate Begins Screening of Newly Appointed Service Chiefs Lt.-Gen. Olufemi …
As emerging domestic refiners and dominant importers of petroleum products battle for market share, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has warned against monopolistic practices in the downstream oil sector, calling for fair access and open competition. PETROAN President, Dr Billy Gillis-Harry, made the call while presenting a paper titled “New …
A new wave of hope is sweeping through Nigeria’s public schools as the Create That Change Development Initiative (CCDI), in partnership with the Embassy of Switzerland, on Wednesday commissioned new toilet and library facilities at LEA Primary School, Sheritti, Kabusa, in Abuja, marking a fresh push to restore dignity, hygiene, and learning standards among pupils …
First Bank of Nigeria Limited said it has successfully redeemed its $350 million Eurobond, reaffirming its liquidity and financial stability. The parent company, First HoldCo Plc, disclosed this in a statement on Wednesday, October 29. It noted that the Eurobond, issued in October 2020, matured on October 27, 2025. It also noted that the Eurobond …
VFD Group Plc has posted a 61.4 per cent growth in profit before tax to ₦7.99 billion in the nine months of the year from ₦4.95 billion in the same period of the previous year. It reported this in its interim financial statements for the period ended September 30, 2025, released on Wednesday, October 29. …
Reactions have continued to trail the redeployment of sacked workers of Dangote Refinery to Borno, Zamfara, Benue, Ebonyi and other locations. The workers were sacked by the management of the Dangote Refinery during a dispute between the company and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) last month. PENGASSAN had embarked …
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 …
