Transnational Corporation Plc (Transcorp Group) has declared a total dividend of ₦20,323,995,148, translating to ₦2.00 per share, for its shareholders at its 20th Annual General Meeting (AGM) held at the Transcorp Centre in Abuja. The dividend comprises an interim payment of ₦4,064,799,030, representing 40 kobo per share, which was paid in August 2025, and a …
For decades, Nigeria’s economy has largely revolved around crude oil revenues, leaving the country vulnerable to global oil price shocks, foreign exchange volatility, and rising unemployment. Despite its vast arable land, large population, and abundant natural resources, experts say the nation has yet to fully harness the potential of agriculture and other non-oil sectors to …
The Centre for the Promotion of Private Enterprise (CPPE) has warned against any retaliatory action by the Nigerian government over recent xenophobic attacks in South Africa, saying such moves would damage the Nigerian economy and weaken investor confidence. In a statement issued on Wednesday, May 6, Chief Executive Officer of CPPE, Dr Muda Yusuf, described …
Aviation analyst Olumide Ohunayo has said the plans by Dangote Refinery to begin direct supply of aviation fuel, also known as Jet A1, to airlines in Nigeria will not work. He said this is because there are registered marketers with facilities around airports who are supposed to supply aviation fuel to the airlines. Ohunayo, who …
Nigeria’s private sector has entered 2026 on a fragile path, with businesses facing rising risks around customers, technology, and talent despite signs of economic recovery. This is according to a new report by the Nigerian Economic Summit Group (NESG), released recently. The report, titled Nigeria Private Sector Outlook 2026: The Productivity Imperative for Nigerian Businesses, …
Experts have warned about emerging threats to Nigeria's public health system arising from the practice of fortifying processed foods, a nutrition strategy to eliminate chronic micronutrient deficiencies. A coalition of leading health advocates has cautioned the federal government that plans to fortify ultra-processed foods may inadvertently fuel the country’s already rising burden of non-communicable diseases …
Nigeria’s electricity distribution companies (DisCos) recorded N45.61 billion as revenue losses in February 2026 due to collection inefficiencies. According to the latest Commercial Performance Factsheet released by the Nigerian Electricity Regulatory Commission (NERC), 11 DisCos collected a total of N196.68 billion in revenue in February. The report indicates that the total energy billed to customers …
Domestic refineries in Nigeria recorded a crude oil supply shortfall of 33.4 million barrels in the first quarter (Q1) of 2026. According to data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Tuesday, May 5, a total of 61.9 million barrels of crude oil was allocated to domestic refineries during the quarter under …
The exit of the United Arab Emirates (UAE) from the Organisation of Petroleum Exporting Countries (OPEC) has raised concerns about its impact on global energy markets, especially for oil-dependent economies like Nigeria. While the UAE’s move is largely informed by its shift toward expanding production capacity and diversifying its economy, analysts say the implications could …
The Nigerian National Petroleum Company Limited (NNPC) has announced a significant financial performance for March 2026, reporting a Profit After Tax (PAT) of ₦276 billion. The company also recorded an increase in oil and gas production within the period. According to the NNPC Limited Monthly Report Summary for March 2026 released on Monday, the national …
