Company Report
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THISDAY/ARISE Media Group launches homegrown social media platform LekeeLekee
Chairman of the THISDAY/ARISE Media Group, Prince Nduka Obaigbena, has officially launched LekeeLekee, a new social media platform developed by the company as part of its digital expansion strategy. In a statement, Obaigbena announced that LekeeLekee is now available on the App Store, Google Play, and the web, and can also be accessed as a Progressive Web App (PWA), ensuring…
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Lafarge Africa plans expansion in Ashaka, Sagamu cement plants
Lafarge Africa Plc has notified the Nigerian Exchange Limited and the investing public of its plan to expand its Ashakacem Plant in Gombe State and Sagamu Plant in Ogun State. Legal Director & Company Secretary, Mr. Adewunmi Alode in a signed statement stated that upon completion, Ashakacem and Sagamu Plants’ total capacity will be 2MT and 3.5MT per annum respectively. …
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NNPC shut Warri, Port Harcourt, Kaduna refineries over heavy losses — Ojulari
By Kunle Sanni – The Nigerian National Petroleum Company (NNPC) Limited shut down operations at the Warri, Port Harcourt and Kaduna refineries after determining that the facilities were incurring heavy financial losses, the Group Chief Executive Officer, Mr Bayo Ojulari, has said. Ojulari disclosed this on Wednesday while speaking at the ongoing Nigerian International Energy Summit (NIES), noting that the…
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Conoil declares 77% drop in profit over hike in finance
Conoil Plc on Monday announced its 2025 unaudited result and accounts with profit before tax dropping by 77 per cent to N2.53billion as against N11 billion posted in 2024 financial year. The listed petroleum marketing company on the Nigerian Exchange Limited (NGX) also saw its profit after tax drop by 77.1 per cent to N2.01 billion in 2025 from N8.77billion…
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Oando grows profit by 10% to N241.3bn as upstream production rises 32% in 2025
Oando Plc has published its unaudited results for the full year ended December 31, 2025 with a profit after tax of N241.8billion, representing an increase of 10 per cent when compared to N220.1 billion reported in the full year ended December 31, 2024. The growth in profit was supported by higher upstream production, impairment reversals, and favourable tax adjustments. However,…
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Dangote appoints MTN Group CEO Ralph Mupita to fertiliser board
Dangote Industries has appointed the Chief Executive Officer of MTN Group, Ralph Mupita, to the board of Dangote Fertiliser Limited. This is as the conglomerate accelerates plans to expand the business and list it on the Nigerian Exchange (NGX). The appointment was confirmed by the Managing Director of Dangote Fertiliser, Vishwajit Sinha, in an email response to enquiries from Bloomberg.…
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Unilever Nigeria grows profit by 103% to N30.74bn in 2025
Unilever Nigeria Plc in its unaudited financial statements for the year ended December 31, 2025 declared N30.74 billion profit after tax, about 103 per cent increase over N15.14billion posted in the audited year ended December 31, 2024. The household company on the Nigerian Exchange Limited (NGX) announced profit before tax to N51.8 billion in 2025, representing an increase of 129…
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Omoluabi Holdings recovers over ₦10bn assets, reclaims properties from private holders
By Deborah Oladejo, Osogbo – The Managing Director of Omoluabi Holdings Limited, Alhaji Taofiq Alimi, has disclosed that the company has recovered assets valued at over ₦10 billion in the last two and a half years. Speaking with journalists in Osogbo on Thursday, Alimi said that when he assumed office, Omoluabi Holdings’ investments were in a poor state, with the…
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FCMB, others opt for phased recapitalisation strategies in Nigeria’s banking sector drive
Nigeria’s banking sector is entering the decisive stage of its most ambitious recapitalisation exercise in more than a decade, with lenders adopting sharply different strategies to meet new regulatory capital thresholds ahead of the March 31, 2026 deadline set by the Central Bank of Nigeria (CBN). While attention has largely focused on banks that have already crossed the N500 billion…
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Zichis Agro Allied Industries projects 1,000 hectares of farmland by 2030
Amid its expansion plans, Zichis Agro Allied Industries Plc said it targeted a 1,000 hectares of farmland by 2030. The management in a statement obtained by WESTERNPOST stated that its vision is taking root in the heart of the soil, stressing that it dreams to expand from an 18-acres to 61 acres of thriving green gold. The management noted it…
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