Company Report
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Ellah Lakes acquires equipment for palm kernel oil mill in Edo State
Ellah Lakes Plc has announced the acquisition of the first batch of expellers and presses for its planned Palm Kernel Oil mill as part of efforts to expand its processing operations and diversify its revenue sources. The agribusiness company also announced that the number of pigs on its farm has surpassed 1,000, as it continues to scale its livestock operations…
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United Capital acquires strategic equity stake in NGX Group
United Capital Group, on Monday said it has completed the acquisition of a Five per cent equity stake in the Nigerian Exchange Group (NGX Plc), securing a significant ownership in one of the most important institutions at the heart of Nigeria’s financial system. The transaction has been successfully concluded, marking a significant milestone in the Group’s long-term growth strategy. The…
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Oando awaits FRCN to review 2025 audited results
Oando Plc on Monday informed its shareholders and the investing public of Financial Reporting Council of Nigeria (FRCN) reviewing its 2025 Audited Financial Statements. Chief Financial Officer, Oando, Adeola Ogunsemi in a statement said FRCN ongoing review is based on the previous announcement regarding the approval of the Company’s 2025 Audited Financial Statements by the Board of Directors and the…
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Despite 77% drop in profit, Conoil proposes N1.39bn dividend
Amid 77 per cent drop in profit, the management of Conoil Plc has proposed a dividend of N2.00 per share for the 2025 financial year. This amounts to a total payout of N1.39 billion, despite reporting a sharp decline in profitability as rising borrowings and finance costs weighed heavily on earnings. The proposed dividend, subject to shareholder approval at the…
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Zichis Agro obtains N2bn funding to support expansion strategy
Zichis Agro Allied Industries Plc has announced a N2 billion non-equity capital injection from its core promoters, Chilla Entertainment Limited and Winners Investment & Trust Limited, as part of its broader N50 billion growth and expansion programme. The development was disclosed in a statement signed by the company’s Managing Director/Chief Executive Officer, Akabusi Anthonia Chinyere, and Executive Director, Finance &…
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CBN moves to enhance monetary policy, reassigns deputy governors in strategic shake-up
The Central Bank of Nigeria has approved the redeployment of its Deputy Governors with effect from June 1, 2026, in what appears to be a strategic internal realignment aimed at strengthening policy coordination and financial system oversight. The reshuffle places Mr. Philip Ikeazor in charge of Economic Policy, Dr. Muhammad Sani Abdullahi in Corporate Services, Ms. Emem Usoro in Operations,…
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NNPC records 37% surge in crude sales, posts N481bn profit in April
The Nigerian National Petroleum Company (NNPC) Limited recorded a 36.9 per cent increase in crude oil and condensate sales in April 2026, while profit after tax rose to N481 billion during the same period. According to the company’s latest monthly operational report, crude oil and condensate sales climbed to 23.65 million barrels in April from 17.27 million barrels recorded in…
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Delta Air Lines cancels Lagos flight after aircraft returns to US mid-journey
Passengers travelling from Atlanta to Lagos aboard a Delta Air Lines flight were left stranded after the aircraft returned to the United States several hours into the journey due to what the airline described as an operational issue. The flight, identified as DL54, departed Hartsfield-Jackson Atlanta International Airport on Saturday evening en route to Lagos before turning back mid-air after…
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Dangote Group strengthens place as top employer in new expansion drive
The Dangote Group says its aggressive expansion across Nigeria and other parts of Africa is increasingly positioning the conglomerate as a major driver of employment and industrial growth on the continent. The company made this known in a statement issued by its corporate affairs unit and shared with journalists in Lokoja, where it outlined how ongoing investments are reshaping its…
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Lafarge Africa proposes N96.64bn dividend payment to shareholders
The Board of Directors of Lafarge Africa Plc, a leading provider of innovative and sustainable building solutions and manufacturer of a wide range of cement, ready-mix, mortar, and Plaster of Paris brands, has recommended a total dividend of N96.64 billion for its shareholders for the 2025 financial year. This represents a 100per cent payout, with each shareholder set to receive…
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