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 federal government, states, and local government councils have shared a total of ₦1.969 trillion as revenue from the December 2025 Federation Account. The sharing was done at the January 2026 meeting of the Federation Account Allocation Committee (FAAC) in Abuja, according to a statement on Monday by the Director of Press and Public Relations in …
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 …
In a significant move to boost its capacity expansion drive, Dangote Industries Limited and the Nigerian National Petroleum Company (NNPC) Limited have signed new Gas Sales and Purchase Agreements (GSPA). The deals, finalized over the weekend at the unveiling of the NNPC Gas Master Plan (NGMP) 2026 in Abuja, are designed to scale up gas …
The push for a decentralized power system in Nigeria has intensified in recent times as the collapse of the national grid persists, becoming a major crisis for the country’s electricity sector. Multiple collapses in recent times have plunged different parts of the country into prolonged outages, disrupting homes, businesses, hospitals, and industries, with the attendant …
The Chairman of First HoldCo Plc, Femi Otedola, has explained the reason behind the group’s sharp decline of over 90 per cent in its 2025 financial performance. Otedola gave the explanation via his X handle on Saturday, January 31. He hinted that the drop was the result of a deliberate decision to fully recognise legacy …
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. …
