Economy
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United Capital Group reports record N28.15bn profit, declares final dividend of N1.00 per share
United Capital Group, has recorded its most profitable financial year to date, with profit after tax growing 17per cent to N28.15 billion in the 2025 financial year. The Group reported a 35% increase in revenue, from N43.43 billion in 2024 to N58.55 billion in 2025, driven by a 176per cent surge in net trading income and a 59per cent rise…
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Stanbic IBTC Holdings grows profit by 42% to N165.4bn in Q1 2026
Stanbic Ibtc Holdings Plc on Friday announced its unaudited first quarter (Q1) ended March 31, 2026 result and accounts with 42 per cent increase in profit before tax to N165.34 billion from N116.42 billion reported in the first quarter ended March 31, 2025. The lender on the Nigerian Exchange Limited (NGX) saw its profit after tax up by 40 per…
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Q1 2026: Transcorp Hotels declares 9% increase in revenue to N20.64bn
Transcorp Hotels Plc , the hospitality subsidiary of Transnational Corporation Plc has announced its unaudited results for the first quarter ended March 31, 2026, recording performance across key metrics. The Company delivered N22.41 billion in revenue, a nine per cent increase from N20.64 billion in Q1 2025, while Profit Before Tax (PBT) increased by 15per cent to N7.08billion. These results…
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FG appoints focal persons to tackle Jet A1 fuel crisis
The federal government has appointed designated focal persons representing airlines, fuel marketers, regulators and government as part of urgent efforts to address the rising cost and supply challenges of Jet A1 fuel in Nigeria. The Minister of Aviation and Aerospace Development, Festus Keyamo, announced the decision after a series of high-level meetings in Abuja involving domestic airline operators under the…
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Nigeria reversing years of stagnation, records 3.87% GDP growth in 2025 — FG
The Federal Government has said Nigeria is reversing years of economic stagnation following the recording of a real GDP growth of 3.87 per cent in 2025. Nigeria’s Minister of Information and National Orientation, Mohammed Idris, made this known on Thursday while addressing foreign media organisations at an interactive session in Abuja, where he highlighted the country’s reform agenda and renewed…
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FG approves 30% debt relief for domestic airlines amid fuel cost crisis
President Bola Ahmed Tinubu has approved a 30 per cent reduction in debts owed by domestic airlines to aviation agencies, in a move aimed at easing financial pressure on operators grappling with rising costs. The Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this on Thursday, stating that the approval followed communication from the President through his Chief of…
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Shettima seeks bigger PPP drive as FG targets $1trn economy
Vice President Kashim Shettima has called for a major expansion of Nigeria’s public-private partnership (PPP) pipeline, saying stronger collaboration between government and private investors is essential to achieving the country’s ambition of becoming a $1 trillion economy. Speaking on Thursday at the first 2026 meeting of the National Council on Privatisation (NCP) at the Presidential Villa, Abuja, Shettima said Nigeria…
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Tinubu hails Nigeria’s historic 91.45% ICAO aviation safety score
President Bola Tinubu has hailed Nigeria’s record 91.45 per cent aviation safety rating awarded by the International Civil Aviation Organisation (ICAO), describing it as a major boost for the country’s aviation sector and investor confidence. The score, announced during a recent debriefing by ICAO auditors at the headquarters of the Nigeria Civil Aviation Authority (NCAA) in Abuja, is Nigeria’s highest-ever…
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Africa’s capital surges 25% to $2trn in 2025, says AFC
Africa Finance Corporation’s (AFC) has said Africa’s institutional capital pool grew by 25 per cent to over $2 trillion in 2025, but the continent continues to face challenges in financing critical infrastructure projects. The latest “State of Africa’s Infrastructure Report” released in Nairobi highlights a growing disconnect between rising capital reserves and the continent’s ability to channel funds into productive…
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Stocks: Investors transact N4.15trn in Q1 2026, says NGX
Foreign and domestic investors’ transactions closed in the first quarter (Q1) 2026 at N4.15 trillion on the Nigerian Exchange Limited (NGX), about 86 per cent increase over N2.23 trillion in the first quarter (Q1) 2025. According to the latest “domestic & foreign portfolio participation in equity trading” report of the NGX, domestic investors still outperformed Foreign Portfolio Investments (FPIs) amid…
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