N Seven Raises Guinness Nigeria Stake to 70.9%
N Seven Nigeria Limited, the Tolaram Group company that controls Guinness Nigeria Plc, has increased its stake in the brewer to 70.9 per cent, according to a disclosure to the…
NNPCL revenue decline hits oil giant as crude sales fall sharply
The NNPCL revenue decline deepened in July 2026 as lower crude oil sales and production hit the state-owned oil company’s financial performance. The Nigerian National Petroleum Company Limited (NNPCL) reported…
Nigeria FMCG Giants Lift Profit Despite Flat Sales
Nigeria’s biggest FMCG manufacturers recorded a sharp rise in profits in the first half of 2026, despite almost unchanged revenue. The ten quoted companies posted combined profit after tax (PAT)…
Crude oil dominates Lagos ports as imports hit 2.39 million tonnes in August
Crude oil dominated cargo traffic through Lagos ports in August, with reported imports reaching 2,392,454 metric tonnes during the month. The figures show that crude oil remained the leading commodity…
MTN Group’s $2.2bn IHS Towers deal faces 30% sell-down order in Nigeria
MTN Group’s $2.2bn IHS Towers deal has won approval from Nigerian authorities, but the telecoms giant must reduce its stake in the Nigerian business to address competition concerns. The approval…
Afreximbank Profit Jumps 30% To $534.7m
The African Export-Import Bank (Afreximbank) posted a 30 per cent rise in net income to $534.7 million in the first half of 2026, supported by stronger lending and improved asset…
Dangote Petroleum Refinery expands free fuel delivery to four more states
The Dangote Petroleum Refinery has expanded its free petroleum product delivery initiative to Kano, Imo, Anambra and Nasarawa states, in a move that could cut distribution costs and ease pressure…
Global oil prices plunge as Iran-US tensions hit Strait of Hormuz
Global oil prices fell on Monday as renewed tensions between Iran and the United States raised fresh concerns about energy supplies from the Middle East. Brent crude fell by 1.84%…
NDIC Strengthens Procurement Capacity Amid Banking Reforms
The Nigeria Deposit Insurance Corporation (NDIC) is strengthening its procurement capacity to improve efficiency, transparency and accountability as reforms continue across Nigeria’s banking sector. NDIC Managing Director and Chief Executive…
NFIU Records 42,082 Suspicious Transaction Reports in 2025
The Nigerian Financial Intelligence Unit (NFIU) received 42,082 Suspicious Transaction Reports (STRs) from banks, fintech firms and other reporting entities in 2025, according to its annual report. The agency also…
