The African Development Bank Group (AfDB) has approved a new five-year Country Strategy Paper (CSP) for Nigeria, committing about $650 million annually between 2025 and 2030 to drive economic transformation, build resilience, and promote broad-based prosperity. The Bank disclosed this in a statement published on its website on Thursday, stating that it will provide $2.95…
The Nigerian Exchange Group (NGX) has announced a profit of N2.1 billion for the first quarter of 2025. The Exchange disclosed this in its unaudited financial statement released on Wednesday. This represents an increase compared to the N1.34 billion profit recorded during the same period in 2024. The NGX also reported a revenue of N3.56…
Nestlé Nigeria has reported a 61 per cent revenue growth of N294.9 billion in first quarter of 2025. This is compared to N183.5 billion reported for the first quarter of 2024. The company disclosed this in a corporate disclosure sent to the Nigerian Exchange Ltd. on Wednesday. Its operating profit grew to N74.1 billion, representing…
President Bola Tinubu has approved the composition of an oversight committee for Nigeria’s hosting of the 4th African Union Micro, Small and Medium Enterprises (MSME) Forum. Mr Temitola Adekunle-Johnson, the Special Adviser to the President on Job Creation and MSMEs, Office of the Vice-President, made this known in a statement on Wednesday in Abuja. The…
LivingTrust Mortgage Bank Plc recorded a Profit After Tax of N232 million for the period ending March 31. This marks a 0.71 per cent rise from the N230 million profit recorded in the first quarter of 2024. The bank made this announcement in a corporate disclosure filed with the Nigerian Exchange Ltd. on Wednesday. Gross…
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), says the process of establishing a new revenue allocation formula for all tiers of government in the country has reached an advanced stage. Dr Mohammed Shehu, Chairman, RMAFC, disclosed this on Wednesday at the ongoing three-day retreat for newly appointed members of the commission holding in Uyo….
The Nigerian Shippers’ Council (NSC) has urged the National Environmental Standard Regulatory Agency (NESRA) to ratify and domesticate its agreements on sustainable ocean resources management. This is contained in a on Wednesday in Abuja by Mr Pius Akutah, the Executive Secretary of the council. Akutah spoke during a courtesy visit by Dr Jonathan Dajely, NESRA…
The Tinubu Stakeholders Forum (TSF), has welcomed the latest data, indicating that Nigeria recorded a net foreign exchange (FX) inflow of 15.2 billion dollars in the first quarter of 2025. Mr Ahmad Sajoh, Chairman, TSF, described this feat as a testament to the effectiveness of President Bola Tinubu’s bold economic reforms. “The figures, presented at…
Sen Heineken Lokpobiri, Minister of State, Petroleum Resources (Oil), has described the Joint Venture (JV) between Nigerian National Petroleum Company Limited (NNPC Ltd.), Caverton Offshore Support Group and Stenabulk as a strategic industry alignment. Lokpobiri also said that the JV was a bold step toward enhancing shipping operations, strengthening local content, and driving economic growth….
The Federal Ministry of Industry, Trade and Investment (FMITI) has partnered with the Nigerian Exchange Group (NGX Group) to achieve its ambitious $6 billion investment target. In a statement signed on Tuesday by Mr Adebayo Thomas, Director, Press and Public Relations of the ministry, the commitment was underscored during a Closing Gong Ceremony at the…
