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Business · Nairametrics ·NASCON posts N14.98 billion Q1 pre-tax profit driven by cost efficiency
NASCON Allied Industries recorded a pre-tax profit of 14.98 billion Naira during the first quarter of the year. The company attributed this financial outcome to enhanced cost efficiency measures. This performance highlights the firm's operational focus and profitability within the Nigerian industrial sector for the reporting period.
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Business · ThisDay ·
Odu’a Investment, Ibadan Economic Team, to Partner on SMEs Growth
Odu’a Investment Company Limited and the Ibadan Economic Team have formed a partnership aimed at fostering the growth of small and medium-scale enterprises. This collaboration focuses on driving regional economic development by providing essential support and resources to local businesses to enhance their commercial sustainability and investment potential.
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Business · Nairametrics ·
States retirees threaten nationwide protest over pension payments review
Retirees from various Nigerian states are planning a nationwide protest to express dissatisfaction with the current status of pension payment reviews. The group aims to pressure state governments into addressing grievances related to the adjustment and disbursement of retirement benefits, citing delays and inconsistencies in the implementation of new payment structures across the federation.
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Business · BusinessDay ·NEPC scales up training, certifications to empower women exporters
The Nigerian Export Promotion Council is increasing its efforts to provide specialized training and professional certifications for female exporters. This initiative aims to enhance the capacity of women-led businesses to compete in international markets and improve the quality of Nigerian exports through structured empowerment programs and regulatory compliance support.
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Business · BusinessDay ·Adidas Q1 profit jumps 16% to €705m amid volatile retail climate
Adidas recorded a 16 percent increase in first-quarter profit, reaching 705 million euros despite facing a volatile retail environment globally. The sportswear manufacturer achieved this growth amidst fluctuating market conditions, reflecting a significant performance improvement compared to the previous year's figures reported during the same period.
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Business · Nairametrics ·
Naira hits fresh low of N1,896/£1 despite british pound meltdown
The Nigerian naira has declined to a record low of N1,896 against the British pound. This depreciation occurs even as the pound experiences its own market challenges, indicating continued pressure on Nigeria's local currency within the foreign exchange market.
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Business · BusinessDay ·Jollof rice cost hits N30,435 as Iran war drives food prices
The cost of preparing a pot of Jollof rice in Nigeria has reached N30,435, reflecting a significant increase in food prices. This surge is linked to global economic disruptions caused by the conflict involving Iran, which continues to impact local commodity costs and overall inflation across the country.
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Business · Premium Times ·How Mbah grew Enugu’s IGR from N26bn to N407bn, By Uche Anichukwu
Governor Peter Mbah of Enugu State has recorded a substantial rise in Internally Generated Revenue, increasing figures from N26 billion to N407 billion. The achievement highlights fiscal management strategies implemented by the state government to enhance local revenue collection and support public expenditure for infrastructure and social services.
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Business · Channels TV ·NNPC Hikes Nigerian Crude Prices As Nations Reap Gains From Iran War
The Nigerian National Petroleum Company Limited has raised the official selling prices for Nigeria's crude oil grades. This decision comes as global energy markets react to the conflict involving Iran, which has allowed various oil-exporting nations to capitalize on shifting trade patterns and higher international oil prices to bolster their economic returns.
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Business · Vanguard ·Oil prices rise further with Iran war peace talks stalled
Global crude oil prices have experienced a further increase following the stalling of peace negotiations related to the conflict involving Iran. Market uncertainty continues to drive up costs as diplomatic efforts fail to yield immediate results, impacting international energy supplies and pricing trends across global markets.
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Business · Nairametrics ·
Nigeria records surge in foreign currency tax receipts to N6.33 trillion
Nigeria has reported a significant increase in foreign currency tax revenue, reaching a total of N6.33 trillion. This growth in tax receipts highlights a rise in government revenue collected in foreign denominations, reflecting current economic trends and fiscal collections reported by the nation's financial authorities.
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Business · Leadership News ·
Regulatory Clash Threatening N400bn Telecom Credit Market, Operators Warn
Telecommunications operators in Nigeria have expressed concerns over a regulatory dispute that endangers the nation's 400 billion Naira credit market. The conflict between governing bodies could potentially disrupt financial stability within the sector, prompting calls for immediate intervention to protect investments and ensure service continuity for millions of subscribers across the country.
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Business · Leadership News ·
Shareholders Approve HoldCo’s N466.38bn Dividend Payout For 2025
Shareholders have approved a dividend payout of N466.38 billion for the 2025 financial year as proposed by the holding company. This decision followed a meeting where investors endorsed the distribution of profits, reflecting the financial performance and commitment of the institution to provide value to its various stakeholders.
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Business · Leadership News ·
Mixed Reactions As UAE Quits OPEC
The United Arab Emirates has reportedly exited the Organization of the Petroleum Exporting Countries, triggering varied responses across the global energy sector. This decision follows long-standing membership and raises questions about the future of oil production quotas and the overall influence of the alliance on international crude prices.
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Business · Daily Trust ·ANALYSIS: Claim vs Data — Xraying Adelabu’s Power Figures
Nigeria's Minister of Power, Adebayo Adelabu, faces scrutiny over electricity sector statistics as new analysis compares his official claims against independent data. The review examines the accuracy of reported power generation and distribution figures to assess the actual progress made in improving the national grid and energy supply.
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Business · Leadership News ·
China’s Zero-tariff For African Products Takes Effect May 1– Envoy
China is implementing a zero-tariff policy for products imported from African nations starting on May 1. According to a diplomatic envoy, this trade initiative aims to enhance economic cooperation and facilitate smoother market access for African goods entering the Chinese market, marking a significant shift in bilateral trade relations between the regions.
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Business · Leadership News ·
Stocks Rebound, Add N3.2trn as Market Cap Crosses N147trn
The Nigerian stock market recorded a significant recovery, gaining N3.2 trillion in value. This positive movement pushed the total market capitalization past the N147 trillion threshold. The rebound reflects increased trading activity and value appreciation across listed equities, marking a notable improvement in market performance for investors.
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Business · Leadership News ·
Indigenous Energy Firm Backs Local Engineers on Localisation for Global Edge
A Nigerian indigenous energy company is promoting the localisation of engineering talent to enhance global competitiveness. The firm aims to support local engineers by developing their technical skills and integrating them into high-level projects, which is expected to strengthen the country's domestic expertise and operational capacity within the international energy market.
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Business · Leadership News ·
Firm Surpasses N2bn Capital Ahead Of SEC’s Deadline
An unnamed company has exceeded the two billion naira capital requirement stipulated by the Securities and Exchange Commission well before the official deadline. This development marks a significant step in the firm's regulatory compliance and financial positioning within the Nigerian capital market, ensuring it meets new industry standards.
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Business · ThisDay ·
Group Lauds Tinubu’s Economic Reforms’ Push in Non-Oil Revenue Sector
A group has expressed support for President Bola Tinubu’s economic reforms focused on the non-oil revenue sector. The praise highlights the administration's efforts to diversify Nigeria’s income streams beyond crude oil exports to strengthen the national economy and improve fiscal stability through alternative revenue generation strategies.
Nigerian News
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