Company Report
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Dangote Refinery explains hike in petrol cost as pump price nears N1,400
The Dangote Petroleum Refinery has explained its recent increases in the price of petrol, attributing the adjustments to the cost of crude oil purchased earlier and the time required to transport and process the commodity. The development has pushed the retail price of Premium Motor Spirit (PMS) to between N1,310 and N1,400 per litre in different parts of the country.…
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Okin Biscuits begins comeback after 17-year production halt
Okin Biscuits has begun its comeback after a 17-year production halt, with the management of the once-popular Nigerian confectionery brand taking steps to revive the business. The company announced that one of its production lines at its factory in Offa, Kwara State, was restarted on Tuesday following extensive rehabilitation. The line had remained inactive after vandals reportedly removed vital components,…
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PalmPay expands financial services to help Nigerians earn more
PalmPay has expanded its range of financial services to give Nigerians more ways to save, manage their money and earn additional value amid rising living costs. In a recent statement, the fintech company noted that the rising cost of living had made many Nigerians more conscious of how they spend and manage their income, creating a growing need for financial…
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Western Post unveils new vox pop programme, ‘The Newspaper Stand’
Western Post Newspaper has unveiled a new vox pop programme, “The Newspaper Stand,” designed for Nigerians to contribute to conversations about trending issues around the country. The programme will provide a platform for Nigerians from different backgrounds to share their views on issues of human interest, politics, governance and current affairs. According to Western Post, the programme is aimed at…
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PalmPay seeks safer, interconnected payment ecosystem across Africa
PalmPay Nigeria has called for increased investment in interoperable payment infrastructure to strengthen regional economic integration and support Africa’s next phase of economic growth. The fintech company made the call at the Central Bank of Nigeria’s (CBN) 7th Africa Emerging Markets Forum (AEMF 2026), held from July 29 to 30 in Abuja. Speaking during the forum, PalmPay Nigeria’s Managing Director,…
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$50bn investment expected from new deep offshore incentive order — NNPC
The Nigerian National Petroleum Company Limited (NNPC Ltd.) says the Federal Government’s new Deep Offshore Oil and Gas Projects Incentives (Tax Remission) Order 2026 is expected to unlock more than $50 billion in fresh investment and increase oil production. In a statement on Thursday, the company said the new fiscal framework would strengthen Nigeria’s competitiveness in the deep offshore sector…
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NASENI, Gambia explore partnership on technology commercialisation
The National Agency for Science and Engineering Infrastructure (NASENI) and the Government of The Gambia have agreed to develop a comprehensive Memorandum of Understanding (MoU) to strengthen cooperation in technology development, technical and vocational education and training (TVET), research, innovation, skills development and technology commercialisation. The development followed a high-level experiential learning visit by the Gambian Minister of Higher Education,…
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REPORT: Nigeria’s Dangote refinery aims to raise $5 billion with October listing, source says
Nigeria’s Dangote oil refinery is set for Africa’s biggest ever market listing as it seeks to raise about $5 billion through an initial public offering expected to conclude in October, a source with knowledge of the plan told Reuters. Majority owned by Africa’s richest man, Aliko Dangote, the refinery emerged as a big winner from the Iran war by selling…
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BREAKING: Wema Bank grows profit by 50.1% to N131.4bn in H1 2026
Wema Bank Plc on Wednesday announced its unaudited result and accounts for half year ended June 30, 2026 with profit after tax at N131.37 billion, about 50 per cent growth when compared to N87.5 billion reported in the half year (H1) ended Jun 30, 2025. The lender on the Nigerian Exchange Limited (NGX) posted profit before tax of N154.56 billion…
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H1 2026: HBM Nigeria delivers 57% increase in profit to N208bn
HBM Nigeria Plc has declared a Profit After Tax (PAT) of N208billion representing a 57per cent growth for the first half (H1) of 2026. The former Lafarge Africa Plc, a leading provider of innovative building solutions and manufacturer of a wide range of cement, ready mix, mortar and Plaster of Paris brandsNet sales grew by 31per cent in H1 2026,…
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