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Business · Nairametrics ·Custodian records N21.42 billion Q1 profit as investment income triples, beats forecast
Custodian has recorded a first-quarter profit of N21.42 billion, exceeding market expectations for the period. The growth was primarily driven by investment income tripling, which significantly bolstered the company's bottom line. These results reflect a strong start to the fiscal year for the firm's financial operations and investment strategy.
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Business · PM News ·
Naira slides to N1,383/$ as external reserves dip further
The Nigerian Naira has depreciated to 1,383 against the US Dollar in the foreign exchange market. This decline coincides with a continuous reduction in the country's external reserves, reflecting ongoing pressure on the national currency and the broader economic framework as reported by fiscal monitoring data.
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Business · Nairametrics ·
Top 10 states with the cheapest fuel in Nigeria—March 2026
A recent report identifies the ten Nigerian states with the lowest fuel prices during March 2026. The data highlights regional disparities in energy costs across the federation, providing a ranking based on official figures to assist consumers and businesses in understanding the prevailing domestic fuel market landscape.
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Business · BusinessDay ·Dangote raises petrol price by N75 to N1,275 per litre
Dangote Refinery has implemented a price hike for its premium motor spirit, increasing the cost by 75 Naira. This adjustment brings the current price to 1,275 Naira per litre, reflecting changes in the domestic fuel market as the facility continues its distribution operations across Nigeria.
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Business · The Punch ·Dangote raises petrol price by N75, to N1,275 per litre
Dangote Refinery has increased the price of petrol by 75 Naira, resulting in a new rate of 1,275 Naira per litre. The price adjustment affects the cost at which the facility sells fuel to marketers, influencing the broader retail landscape for petroleum products within the Nigerian energy sector.
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Business · Vanguard ·TotalEnergies first-quarter profits surge amid Middle East war
TotalEnergies reported a significant increase in its first-quarter profits, driven by market conditions surrounding the conflict in the Middle East. The energy company's financial performance reflects the impact of geopolitical tensions on global oil and gas prices during the early months of the year.
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Business · Vanguard ·German govt, GIZ disburse over N9bn to boost agriculture in Northwest
The German government and GIZ have provided over N9 billion in funding to enhance agricultural activities in Nigeria's Northwest region. This financial intervention aims to support local farming initiatives and improve food security within the targeted states through strategic investment and developmental cooperation between the two nations.
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Business · BusinessDay ·FG calls for empowerment of women, youth in aquaculture value chain
The Nigerian Federal Government has advocated for the increased empowerment of women and youth within the aquaculture value chain. This initiative focuses on enhancing economic participation and strengthening the fisheries sector by providing targeted support to these groups across various stages of fish production, processing, and distribution.
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Business · Nairametrics ·
Vitafoam’s pre-tax profit soars 48% to N8.1 billion in Q2 2026
Vitafoam reported a 48% increase in its pre-tax profit, reaching N8.1 billion for the second quarter of 2026. This significant financial growth reflects the company's performance during the period. The results were published in a report highlighting the foam manufacturer's fiscal strength and market position within the Nigerian economy.
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Business · BusinessDay ·Why Tanzania is the next target for Africa’s richest man as a refinery hub
Aliko Dangote is exploring the development of a refinery hub in Tanzania as part of an expansion strategy for his industrial portfolio. This move follows significant energy investments in Nigeria and highlights Tanzania's emerging role as a strategic center for large-scale infrastructure and regional fuel distribution.
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Business · Premium Times ·Lagos bets on local power amid incessant grid collapses
Lagos State is implementing measures to enhance local electricity generation to mitigate the impact of frequent national grid failures. The initiative aims to provide a more stable and reliable power supply for residents and businesses within the state, reducing dependency on the struggling national infrastructure.
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Business · BusinessDay ·Tinubu commends Cardoso’s reforms after recapitalisation ends
President Bola Tinubu has expressed approval of the financial reforms implemented by Central Bank Governor Olayemi Cardoso. This commendation follows the conclusion of the banking sector's recapitalisation program, which aimed to strengthen Nigeria's financial institutions and ensure greater economic stability within the country’s banking industry.
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Business · Nairametrics ·
Namibia central bank retains 6.50% rate over inflation concerns
The Bank of Namibia has opted to maintain its benchmark interest rate at 6.50 percent, citing ongoing concerns regarding inflationary pressures. This decision reflects the central bank's effort to ensure price stability while supporting domestic economic activity amidst evolving global and regional financial conditions.
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Business · Nairametrics ·
Flutterwave Partners with Activate Success International Foundation to Champion Youth Entrepreneurship and Financial Inclusion Across Nigeria
Flutterwave has collaborated with the Activate Success International Foundation to support youth entrepreneurship and financial inclusion throughout Nigeria. This partnership focuses on empowering young entrepreneurs by providing resources and initiatives designed to enhance their business capabilities and integrate them into the formal financial system.
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Business · Premium Times ·Akwa Ibom spends N201.73 billion in first three months of 2026 – Report
The Akwa Ibom State government spent N201.73 billion during the first three months of 2026. A report detailing the state's financial activities indicates that this expenditure occurred within the first quarter of the year. The figures highlight the scale of government spending and fiscal implementation in the state during the period under review.
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Business · Channels TV ·
GTCO Profit In Q1 Grows To N303bn On Strong Interest Income
Guaranty Trust Holding Company (GTCO) reported a profit of N303 billion for the first quarter of the year. The substantial growth in earnings is attributed to strong interest income recorded during the period. This financial result highlights the company's performance and revenue generation capabilities within the Nigerian banking sector.
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Business · Premium Times ·Enugu Air tops state IGR as Enugu records N130.62bn revenue in early 2026
Enugu State has generated N130.62 billion in revenue during the early part of 2026. The state-owned airline, Enugu Air, emerged as the leading contributor to the Internally Generated Revenue. This financial performance highlights the significant impact of the aviation sector on the state's fiscal growth during the period under review.
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Business · Daily Post ·BREAKING: Dangote Refinery hikes petrol price
The Dangote Refinery has implemented an upward adjustment to the price of petrol distributed from its facility. This decision directly impacts the cost of fuel available to consumers and marketers across Nigeria, representing a change in the refinery's pricing strategy for its domestic petroleum product supply.
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Business · Nairametrics ·
Capitalfield Investment Group Raises ₦5 Billion via Rights Issue, Positions for Strategic Growth and Private Placement
Capitalfield Investment Group has successfully secured ₦5 billion in funding through a rights issue. The capital injection is aimed at supporting strategic expansion and growth initiatives. Additionally, the investment firm is preparing for a private placement to further strengthen its financial position and support its long-term objectives.
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Business · ThisDay ·
STL Trustees Marks 30th Anniversary, Surpasses N2bn Capitalisation Threshold
STL Trustees has celebrated its 30th anniversary while announcing that it has exceeded the N2 billion capitalisation threshold. This milestone signifies the company's sustained growth within the Nigerian financial services industry and its commitment to maintaining a robust capital base to support its operations and meet regulatory standards in the trusteeship sector.
Nigerian News
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