The Nigerian National Petroleum Company Limited (NNPC Ltd) today announced its intention to increase its equity stake in the $20 billion Dangote Petroleum Refinery to 20 per cent, up from its current 7.2 per cent holding. This strategic move aims to significantly strengthen Nigeria’s domestic refining capacity and reinforce national[Read More…]
Business
Stanbic IBTC Reports Exceptional 52% Profit Growth Despite Balance Sheet Contraction in 9M 2025
Stanbic IBTC Holdings PLC (Stanbic IBTC or the Group) has announced a robust financial performance for the nine months ended September 30, 2025, demonstrating remarkable resilience and strategic agility in a challenging economic environment. The Group reported a stellar 52.3% increase in Profit After Tax (PAT), rising to \text{N278.5 billion}[Read More…]
Manufacturing Growth Continues as Credit Falls by N7.72tn
By Paul Onehi The Manufacturers Association of Nigeria (MAN) has reported that credit to the manufacturing sector declined by 9.5 per cent, falling to ₦7.72 trillion as of March 2025, compared to ₦8.53 trillion in December 2024. The association described the development as a setback to the sector’s fragile recovery,[Read More…]
Guinness Nigeria Achieves Strong Turnaround and Revenue Growth in Extended Financial Year
Guinness Nigeria Plc today announced its unaudited financial results for the 15 months ended September 30, 2025, reporting a robust performance that demonstrates significant resilience and strong business momentum despite challenging market conditions. The results follow the company’s approved decision to change its financial year-end from June 30 to December[Read More…]
Dangote Refinery Announces Massive Expansion, Set to Become World’s Largest at 1.4 Million BPD
The Dangote Petroleum Refinery is poised for a major leap, announcing plans to significantly expand its processing capacity from 650,000 barrels per day (bpd) to 1.4 million bpd. This ambitious project will position the facility as the largest single-train refinery in the world upon completion. Alhaji Aliko Dangote, President of[Read More…]
Dangote to Expand Refinery to 1.4 Million bpd, Targeting World’s Largest Capacity
Aliko Dangote to Expand Refinery to 1.4 Million bpd, Targeting World’s Largest Capaliko Dangote, founder of the Dangote Group, has announced a massive expansion plan for the Dangote Petroleum Refinery, aiming to boost its production capacity from 650,000 barrels per day (bpd) to 1.4 million bpd. Speaking at a press[Read More…]
FirstBank Revolutionizes Cross-Border Payments with PAPSS Integration on LIT
FirstBank, the premier bank in West Africa and a leading financial inclusion service provider, had announced the successful integration of the Pan-African Payment and Settlement System (PAPSS) into its flagship digital banking platform. The LIT app, enables customers to make instant, secure, and local currency-based cross-border payments across Africa. PAPSS,[Read More…]
Lafarge Africa Reshapes Board After Holcim Exit: Five Directors Resign, Five New
Lafarge Africa Plc has announced major changes to its Board of Directors following the ongoing divestment of its former majority shareholder, Holcim Group. Five non-executive directors — Mr. Kaspar Theiler, Mr. Khaled El Dokani, Mr. Rajesh Surana, Mr. Grant Earnshaw, and Mr. Taner Demir — have resigned. In their place,[Read More…]
FirstBank Set to Launch Tailored Financial Services for Blind and Physically Challenged Customers
FirstBank, the premier West African bank and a leading financial inclusion service provider, is set to introduce tailored financial services for blind, partially sighted, and physically challenged customers across its operations. This initiative is part of FirstBank’s broader continuous commitment to promoting Financial Inclusion and Diversity, which is shown in[Read More…]
CREDICORP Launches Game-Changing Pension-Backed Loan Program to Empower Nigeria’s Retirees
In a landmark move to revolutionize Nigeria’s consumer credit landscape, the Nigerian Consumer Credit Corporation (CREDICORP), in collaboration with Leadway Trustees and Optimus Bank, yesterday launched a transformative initiative under the theme “Empowering Retirement with Consumer Credit.” This bold program introduces affordable, pension-backed loans for Nigeria’s senior citizens, ensuring annuitants[Read More…]
Consumer TV
FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]