Business is war.
An advocacy organization for business interests endorsed a 15 percent tariff on imported fuel as a strategy to strengthen local refineries and preserve currency reserves. The Centre for the Promotion of Private Enterprise described the levy as an appropriate intervention that could spur manufacturing growth and employment while reducing vulnerability to external economic pressures. Chief…
Nigeria’s telecommunications regulator is turning rural internet access into an engine for economic expansion through partnerships and empirical research aimed at closing the nation’s connectivity gap. The Nigerian Communications Commission reported that broadband adoption hit 48.81 percent by August 2025, yet metropolitan areas capture roughly 80 percent of data consumption while countryside regions struggle with…
Sterling Financial Holdings Company Plc reported that its net profit more than doubled during the nine months that ended in September, driven by revenue expansion and margin improvements. The banking group posted after-tax earnings of 62.3 billion naira for the period, a 127 percent jump from the prior year, while gross revenue climbed 44.1 percent…
PANA Holdings has elevated three executives to senior positions as part of a management restructuring at the international company. Chairman Daere Akobo confirmed that Daisy Maduagwu will become executive director for global business services, Adetoke George-Toyon assumes the role of group chief operating officer and Chukwuemeka Igilar takes over as vice president at PE Energy….
Nigeria’s petroleum depot association has called the 650,000 barrel-per-day Dangote Refinery a milestone in reducing foreign fuel dependence but cautioned that outdated systems could limit its effectiveness. Moroti Adedoyin-Adeyinka, who chairs the Depot and Petroleum Products Marketers Association of Nigeria, delivered the warning through representative Ngozi Ekeoma at the OTL Africa Downstream Week 2025 conference…
FrieslandCampina WAMCO wrapped up the 10th annual Three Crowns Mum of the Year competition with a celebration over the recent weekend that honored Nigerian mothers through fitness activities and entertainment. Media figure Bukunmi Adeaga-Ilori, known as Kiekie, hosted the finale event that drew families and supporters of the dairy brand’s maternal wellness program. Officials from…
A training program backed by three Nigerian energy organizations has enrolled 100 recent university graduates for a two-year apprenticeship in the petroleum sector. The Nigerian Content Development and Monitoring Board partnered with Renaissance Africa Energy Company and the Petroleum Technology Association of Nigeria to launch the 2025-2027 initiative at a ceremony in Port Harcourt on…
The head of the Regional Maritime Development Bank praised Benedict Oramah for a decade of leadership that reshaped African trade finance and economic growth. Niran Aderogba spoke to reporters following a farewell event in Cairo for the outgoing Afreximbank president, calling him a visionary who encouraged African institutions to pursue ambitious strategies for continental advancement….
Chams Holding Company Plc saw its revenue climb 4 percent during the first nine months of the year, reaching 13.60 billion naira compared with 13.14 billion naira in the same period of 2024. The technology firm’s financial statements for the quarter that ended on Sept. 30, 2025, showed net profit after tax of 500.7 million…
Nigerian pension fund administrators have purchased substantial ownership stakes in InfraCredit through a secondary market deal involving MOBILIST, the United Kingdom government’s public markets initiative. The transaction occurred on the NASD exchange and transferred shares from the British development program to local institutional investors. MOBILIST initially invested during April 2025 to support InfraCredit’s equity raising…
