Business

…lauds role as highest industrial taxpayer The Ogun State Internal Revenue Service (OGIRS) has commended Dangote Cement Ibese Plant for its outstanding commitment to tax compliance and its consistent role as the highest tax-paying industrial organisation in the state. OGIRS while on a familiarisation tour of the 12mmtp Cement Plant in Ibese led by its Director, Field Operations, Mrs. Oluwaseun…

Nigerian airline Air Peace will commence direct flights between Lagos and Brazil in late November 2025, marking a significant milestone in the country’s aviation industry. The development follows the bilateral air services agreement (BASA) signed between Nigeria and Brazil during President Bola Tinubu’s recent state visit to the South American nation. Brazilian President Luiz Inácio Lula da Silva has since…

The Group Managing Director/Chief Executive Officer of Nigerian Exchange Group (NGX Group), Temi Popoola, has emphasized the critical role of capital markets in strengthening Nigeria–Brazil trade and investment ties, particularly by creating growth opportunities for small and medium-sized enterprises (SMEs). Speaking during a high-level business session on the sidelines of President Bola Ahmed Tinubu’s state visit to Brazil, where five…

Foreign portfolio investment (FPI) in Nigeria surged to N1.81 trillion in July 2025, up 133.09per cent from N778.65 billion in June, reflecting stronger participation in equities trading. The data, published in the latest FPI report by the Nigerian Exchange (NGX) and compiled from custodians and capital market operators, also showed a 269.19per cent year-on-year increase compared to N491.61 billion recorded…

By Oluwatoyin Hawal Momolosho – In a bold step towards fostering youth development and tackling unemployment, BawBaw Farms, the largest fish farming enterprise in Northcentral Nigeria, is celebrating its 10th anniversary by announcing an ambitious new initiative aimed at the youth of Kwara State. The company, which has firmly established itself as a leader in the region’s aquaculture industry, has…

The Nigerian equities market on Monday gained 0.31 per cent following share price appreciation in Julius Berger Nigeria Plc and 38 others. Specifically, the Nigerian Exchange Limited All Share Index (NGX ASI) gained by 435.63 basis points, or 0.31 per cent to close at 141,439.77 basis points. Also, market capitalisation appreciated by N284 billion to close at N 89.493 trillion.…

Coronation Group has announced the official listing of the Coronation Infrastructure Fund (CIF) on the Main Board of the Nigerian Exchange, following its earlier debut in 2024. In a statement released on Monday, the company revealed that 87.9 million units of the fund were listed on the exchange the same day as the announcement. Priced at N100 per unit with…

No less than 1,500 Dangote Cement truck drivers have undergone intensive screening exercises to ascertain their mental, psychological and physical fitness for safe driving. Group Managing Director of Dangote Cement Plc, Arvind Pathak disclosed this to journalists after his presentation at the 2025 Annual Drivers Retreat held at Ilaro, Ogun state. He explained that the screening exercise has been made…

Wema Bank Plc has surpassed the new minimum capital base of N200 billion after raising N157 billion in new equity funds from existing shareholders. Some sources close to the bank said the bank’s rights issue of N150 billion was oversubscribed by N7 billion and the proceeds were being verified by the Central Bank of Nigeria (CBN). The addition of proceeds…

First Holdco Plc and three other banks generated N37.12 billion as account maintenance fees for customers in the first half (H1) of 2025. This is about 29 per cent increase over N28.8 billion generated in first half of 2024. The remaining three banks are FCMB Group Plc, Sterling Financial Holdings Company Plc and Wema Bank Plc. The breakdown showed that…