Business

The Olowu of Owu Kingdom, Oba (Prof.) Saka Matemilola, has urged the management of Premium Trust Bank  to support local businesses in Ogun state  The Olowu, who attended the official opening of the bank’s new branch in Abeokuta, commended the management for expanding its reach to the state capital and encouraging strong engagement with the local economy. He applauded the…

A group of analysts at Cordros research have projected the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) to maintain status quo on rates at the second meeting for this year. The Committee (MPC) is expected to hold its second meeting of the year on May 19th and 20th, 2025. At the meeting in 2025, the committee…

Access Bank Plc has successfully closed a $100 million senior loan facility with a consortium of Development Finance Institutions (DFIs), led by the German DFI DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH, and supported by FinDev Canada, Amsterdam-based asset manager ILX, as well as Austrian DFI OeEB, Oesterreichische Entwicklungsbank AG. This significant financing will support privately-owned MSMEs, small corporates, and…

Petrobras, Brazil’s state-controlled oil company, is actively pursuing a return to Nigeria’s oil market, focusing on frontier deepwater exploration opportunities. This marks a reversal from its previous strategy of exiting Nigerian investments in 2020. Petrobras aims to acquire frontier deepwater acreage as part of its diversification strategy. Petrobras’ re-entry into Nigeria’s oil market marks a significant shift from its previous…

By Kunle Sanni Dangote and the BUA groups have agreed to keep the price of cement at a steady price without any increase in the near future for all contractors handling construction projects under the Renewed Hope initiative. The Renewed Hope Housing projects, which include – Renewed Hope Cities, Renewed Hope Estates, and the Renewed Hope Social Housing Programme among…

By Kunle Sanni The Group Managing Director of Sahara Group, Kola Adesina, has expressed strong confidence in President Bola Ahmed Tinubu’s sweeping energy reforms, describing them as courageous, transparent, and vital for long-term sustainability. Speaking in an interview for an upcoming State House TV documentary commemorating the second anniversary of the Tinubu administration, Adesina praised the removal of the fuel…

…says food prices dropping due to policy, intervention By Kunle Sanni Chairman of BUA Group, Samad Rabiu, has defended the current market price of cement in Nigeria, arguing that at ₦9,000 per bag, the commodity is still competitively priced when converted to international market rates. Speaking during a briefing at the State House after a meeting with President Bola Tinubu…

Chartered Institute of Directors (CIoD) Nigeria has commended Nigeria Deposit Insurance Corporation’s (NDIC) excellence in operational standards, consistent implementation of its mandate, and unwavering commitment to ethical leadership and sound corporate governance especially in banking supervision and depositor protection.  These have been critical factor in the Corporation’s success in promoting the stability of the banking sector and the nation’s financial…

A total of 10 banks generated an estimated N1.83 trillion profit before tax in the first quarter (Q1) of 2025, about 3.5per cent growth from N1.77 trillion reported in   first quarter Q1 2024. From the Q1 2025 unaudited financial statements the 10 banks investigated by WESTERN POST: Zenith Bank Plc, Ecobank Transnational Incorporated (ETI), First Holdings Plc, Access Holdings Plc,…

At the Africa CEO Forum, leaders from across the continent gathered to discuss the critical role of private sector-led growth in the development of African trade and market integration under the topic “Fast-tracking African Integration: The Private Sector Imperative”. The session, which was one of the highlights of the 2-day event in Abidjan, saw Roosevelt Ogbonna, Managing Director/Chief Executive Officer…