Economy
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Nigeria open for more investment opportunities, Bagudu tells German firms
Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has called on German investors to increase their investments in Nigeria, saying the economic reforms introduced by President Bola Tinubu have expanded business opportunities in the country. Bagudu made the appeal on Monday night at the Nigeria–Germany Business Day held in Lagos, with the theme, “Germany and Nigeria: Cooperating for Development…
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State governments now controlling nearly 78% of federation’s capital expenditure in 2025, says Analyst
The director of Quartus Economics, David Adeoye has revealed that state governments have become a significant force in Nigeria’s economy, controlling nearly 78 per cent of the federation’s capital expenditure (capex) in 2025. Adeoye was speaking on the role of states in the central bank’s inflation-targeting plans on Channels Television on Monday. The economist said states have moved from being…
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France unveils $27 billion investment plan for Africa at Nairobi summit
French President Emmanuel Macron has announced a $27 billion (€23 billion) investment initiative focused on clean energy, digital technology, artificial intelligence, maritime development, and agriculture across Africa. Macron made the announcement on Monday during the Africa Forward summit in Nairobi, a France-Africa forum aimed at strengthening economic and political relations between both regions. According to Macron, €14 billion of the…
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Equities market crosses N160trn mark over investors demand for MTN Nigeria, 58 others
The equities market extended its bullish streak to open trading for the week as market capitalisation crossed the N160 trillion mark after investors gained N3.2 trillion in value. The Nigerian Exchange Limited All-Share Index (NGX ASI) gained by 5,709.71 points, representing a growth of 2.33 per cent to close at 250,485.54 points. Similarly, the overall market capitalisation value rose by N3.162…
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Nigeria Mortgage Refinance Company lists N11.50bn fixed rate bond on FMDQ Exchange
FMDQ Securities Exchange Limited has approved the listing of Nigeria Mortgage Refinance Company Plc’s N11.50 billion 10-Year 17.25% Series 1 Fixed Rate Bond under its N440.00 billion Medium Term Note Programme. This milestone highlights the Exchange’s pivotal role in enabling long-term capital formation and supporting the advancement of the Nigerian housing finance ecosystem. Nigeria Mortgage Refinance Company is a licensed…
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GTCO, UBA, five other banks report N1.27trn profit after tax in Q1 2026
A total of seven Deposit Money Banks (DMBs) commenced this year on a positive momentum, generating an estimated N1.27 trillion profit after tax in the first quarter (Q1) ended March 31, 2026 amid domestic and global uncertainties. From the Q1 2026 unaudited financial statements of the remaining seven DMBs: Ecobank Transnational Incorporated (ETI), Access Holdings Plc, Guaranty Trust Holding Company…
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2025FY: Transcorp rewards shareholders with N20.3bn dividend
Transnational Corporation Plc has declared a total dividend of N20.3 billion, representing N2.00 per share to its shareholders, at its 20th Annual General Meeting (AGM), held in Abuja. The total dividend comprises an interim dividend payment of N4.06 billion, representing 40 kobo per share, paid in August 2025, together with a final dividend of N16.3 billion, equivalent to N1.60 per…
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FG begins repayment of N3.3trn power sector debts, says Transcorp President
The President and Group Chief Executive Officer of Transnational Corporation Plc, Owen Omogiafo, has revealed that the Federal Government has commenced repayment of N3.3 trillion longstanding debts owed to power generation companies. Omogiafo described the move as the most significant progress yet in resolving liquidity challenges in Nigeria’s electricity sector. Omogiafo disclosed this in an interview with journalists on the…
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Q1 2026: First Holdco declares 72% increase in profit
First Holdco Plc delivered a masterclass performance in its first-quarter 2026 financials, recording a 72per cent year-on-year profit before tax (PBT) growth. Profit before tax (PBT) jumped to N321 billion from N186.47 billion in the corresponding period of 2025, supported by steady interest-earning capacity and robust fee income generation. The first quarter of 2026 marked a definitive pivot for FirstHoldCo,…
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Sokoto-Badagry highway to boost trade, agriculture — Kebbi govt
The Kebbi State government says the Sokoto-Badagry Super Highway will significantly boost trade and agricultural activities across the region, describing the project as a major infrastructure intervention with long-term economic benefits. Deputy Governor of Kebbi State, Umar Abubakar Tafida, said the highway would improve the movement of goods and people, especially agricultural produce, while reducing post-harvest losses caused by poor…
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