Nigerian Breweries earned 1.04 trillion naira in revenue for the nine months through September after acquiring Distell Nigeria and expanding premium beer sales. The beverage manufacturer posted a net profit of 85.5 billion naira, compared with a 149.5 billion naira loss the previous year, as pricing adjustments offset inflationary pressures. Company Secretary Uaboi Agbebaku said…

Access Holdings controlled 42.45 trillion naira in assets through June as Nigeria’s largest bank expanded customer deposits and lending operations. The financial services company reported 2.5 trillion naira in revenue for the six months, driven by interest income that climbed 38.9 percent from the previous year. Subsidiaries contributed 65 percent of pretax profit while international…

Agusto & Co. upgraded Jaiz Bank to A- for long-term debt and A1 for short-term obligations on Friday while assigning a strong environmental and social governance score. The ratings agency cited capital adequacy and risk controls at Nigeria’s first non-interest financial institution. Managing Director Haruna Musa said the assessment validates strategic expansion efforts and digital…

Abode Asset hosted a wealth-building event on Thursday in Lagos that attracted participants from the hearing-impaired community. Chief Executive Jeffrey Itepu said real estate offers opportunities for all Nigerians to change their financial situations rather than limiting prosperity to wealthy groups. Speaker Damilare Oshokoya told attendees that knowledge and action determine success regardless of age…

Lafarge Africa earned 207.8 billion naira in net profit for the nine months through September, a 246 percent jump from the same period last year. Revenue climbed 63 percent to 780.48 billion naira, as sales volume expanded and operating costs remained under control despite rising expenses. Chief Executive Lolu Alade-Akinyemi credited currency stability and market…

Nigerian pension assets increased to 25.79 trillion naira in July from 24.62 trillion naira the previous month as government securities attracted more retirement savings. The National Pension Commission reported 10.83 million active contributors by July, reflecting confidence in regulated fund administrators who allocated most holdings to federal bonds and treasury bills. Conservative funds posted modest…

Nigerian Exchange Group fed 200 malnourished children in Lagos through a nutrition program that combines business efficiency with community health work. Group Managing Director Temi Popoola said market institutions must address social problems that weaken the economy, as nearly half the treated children showed recovery within seven weeks of receiving therapeutic food and medical care….

Nigerian business groups rejected proposed changes to the Social Insurance Trust Fund that would reduce private sector oversight and increase government control. Five directors general from organizations representing manufacturers, employers and small businesses said the Senate amendments violate international labor standards ratified by Nigeria. The fund operates under a tripartite structure shared by government officials,…

African governments harm their own farmers by importing cheap grain to prevent urban food riots, an agricultural economist said. Rachid Doukkali from Mohammed VI Polytechnic University said that subsidized foreign cereals undermine the profits of smallholder producers who grow staple crops across the continent. Cereal consumption grew 2.9 percent annually between 2003 and 2023 while…

Foreign livestock imports threaten Nigerian producers who cannot compete with cheaper products from countries with stronger currencies and lower manufacturing expenses, the Lagos Chamber of Commerce and Industry said. Gabriel Idahosa, the chamber’s president, said many small agricultural businesses have closed because customers prefer less expensive imported goods. Nigeria bought 815 billion naira worth of…