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African family businesses outperform global peers in growth

  • 25th June 2026

Poor transparency validation could scare off investors, NEITI

  • 25th June 2026

African cocoa farmers demand $6000/tonne floor price

  • 25th June 2026

Reps expand probe of airport, seaport concessions

  • 25th June 2026

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featured Investment

Dangote boosts Ethiopia fertiliser investment to over $4bn

The President of Dangote Industries Limited, Aliko Dangote, received a hero’s welcome in Gode, Ethiopia, on a visit tied to his group’s fertiliser plant project in the country. He was hosted by Prime Minister Abiy Ahmed. Both men visited the construction site of the proposed facility on Sunday. Ethiopia signed a shareholders’ agreement with Dangote […]

Business

NAHCO’s revenue hits ₦65.82bn as profit soars 36% despite fuel crisis

Ground handling company, Nigerian Aviation Handling Company, has increased its total revenue by 22.93 per cent from N53.54 billion in 2024 to N65.82 billion in 2025. The company, however, lamented the impact of rising fuel prices on its operations, saying the commodity market had remained challenging. NAHCO said while Profit Before Tax jumped by 29.83 […]

Sugar price hits N835,400 per tonne
Business

Sugar sector can generate one million jobs, boost security — NSDC boss

The Executive Secretary of the National Sugar Development Council, Kamar Bakrin, has said a fully developed sugar industry can create up to one million jobs and address Nigeria’s security challenges by generating rural employment for youths. According to a statement made available to The PUNCH on Sunday, Bakrin made the remarks at a strategic meeting […]

Banking featured

Banks lose trillions yearly to CBN’s high CRR policy — Report

Nigeria’s banking sector may be losing trillions of naira annually due to the Central Bank of Nigeria’s high Cash Reserve Ratio, according to a new report by investment banking and research firm Chapel Hill Denham. The report titled “The Nigerian Banking Paradox: High Returns, Deep Discounts” argued that despite Nigerian banks posting some of the […]

Business

Amazon sued over prices tied to unlawful Trump-era tariffs

Amazon is facing a proposed class-action lawsuit from consumers seeking refunds over higher product prices allegedly driven by tariffs that the United States Supreme Court later ruled were unlawfully imposed by Donald Trump. Filed Friday in a federal court in Seattle, the lawsuit claims the e-commerce giant collected hundreds of millions of dollars in unlawful […]

News

Fire razes plastic factory in Anambra, millions lost

A fire outbreak has destroyed parts of a plastic manufacturing company located along Umuoji Road, Nkpor, in Idemili North Local Government Area of Anambra State, damaging goods and property estimated to be worth millions of naira. The incident, which occurred late Saturday, affected parts of the factory structure, production equipment, raw materials, finished products, and […]

NDLEA laments high rate of drug abuse in Abia
News

NDLEA seizes cocaine opioids en route UK, Australia

The National Drug Law Enforcement Agency has intercepted consignments of cocaine and opioid drugs concealed in cartons and destined for the United Kingdom and Australia, while also destroying 65,000 kilograms of skunk during operations in Delta State. The agency disclosed that the seizures were made on Friday, May 15, 2026, at a courier company in […]

Sterling Holdings reports 102% 2024 profit, ₦43.68bn earnings
Business featured

Sterling Financial Holdings reports 89% surge in profit before tax

Sterling Financial Holdings Company Plc has released its audited group financial results for the full year ended December 31, 2025, reporting its profit before tax rose by 89.19 per cent year-on-year to N86.78 billion, compared to the N45.86 billion recorded in FY2024. According to the audited financial statements filed with the Nigerian Exchange on Friday, […]

featured Opinion

LCCI urges FG to stabilise forex, cut energy costs amid rising inflation

The Lagos Chamber of Commerce and Industry has urged the federal government to stabilise the foreign exchange market and reduce energy and logistics costs as Nigeria’s headline inflation rate rose slightly to 15.69 per cent in April 2026 from 15.38 per cent recorded in March. In a statement titled, “April 2026 Inflation Signals Fragile Economic […]

Oil and Gas

ADES secures $48.2m jack-up rig contract in Nigeria

Offshore drilling contractor ADES Holding has secured a new contract in Nigeria for its Main Pass IV standard jack-up rig. The contract has a one-year firm term with an additional one-year unpriced option, with the firm term value of the contract of $48.2 million. The company said the rig recently completed its previous work in […]

featured Finance

Naira weakens despite higher FX liquidity, reserves growth

The naira ended the week weaker in Nigeria’s official foreign exchange market despite a significant rise in market liquidity and continued growth in the country’s external reserves. Central Bank of Nigeria data show the naira depreciated by N9.65 week‑on‑week, with the dollar quoted at N1,371.04 on Friday versus N1,361.39 the previous Friday, a weekly loss […]

New expatriate levy sparks concerns over regional integration
Opinion

CPPE urges supply-side measures to tackle Nigeria’s persistent inflation

The Centre for the Promotion of Private Enterprise has called for a shift toward supply-side interventions to curb inflation, amid rising energy and transport costs linked to Middle East tensions. CPPE said monetary tightening alone cannot address Nigeria’s inflation challenge and risks further weakening investment and productivity. Leadership reported that speaking, the director/CEO of CPPE, […]

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