Business

BUA Cement Plc reported an 80% year-on-year increase in profit to N324.9 billion for the first half of 2026, supported by foreign exchange gains, lower finance costs, and robust operating cash flows.The cement manufacturer recorded a net foreign exchange gain of N16.57 billion during the six-month period, compared with N782.8 million in the corresponding period […]

Etihad Airways will return to Nigeria after years away from the market, with plans to launch daily flights to Lagos in March 2027 and a new codeshare partnership with Nigerian carrier Air Peace. The Abu Dhabi-based airline announced the development during a meeting with the Minister of Aviation and Aerospace Development, Festus Keyamo, in Abuja, […]

The Nigerian Exchange is still one of the clearest ways to get direct exposure to Nigeria’s corporate sector in 2026, especially through banks, telecoms, consumer names and agriculture-linked plays. For beginners and diaspora investors, the practical path is simple: choose a licensed broker, complete your KYC and CSCS setup, fund your wallet, and place your […]

The pound-to-naira picture on Thursday, July 23, 2026 remains a two-market story for UK-based Nigerians sending money home. The Central Bank of Nigeria (CBN) publishes the official Nigerian Foreign Exchange Market rate separately from the parallel market, and the gap still matters if you are checking how much your family will actually receive before you […]

Nigeria’s gross external reserves have increased to $52.73 billion, up from $48.88 billion recorded in January, representing a 7.9 per cent growth, according to the Central Bank of Nigeria (CBN). CBN Governor Olayemi Cardoso disclosed this while appearing before the Senate Committee on Banking, Insurance and Other Financial Institutions, attributing the improvement to renewed confidence […]

The Central Bank of Nigeria (CBN) has defended its monetary and foreign exchange reforms, telling the Senate that the measures have improved macroeconomic stability, restored investor confidence and strengthened the foundation of the economy. However, lawmakers raised concerns over the impact of the reforms on credit availability, inflation, bank recapitalisation, foreign exchange management, liquidity operations […]

Chairman of First HoldCo Plc, Femi Otedola, has strengthened his investment in the financial services group after a company linked to him acquired 706.13 million ordinary shares valued at approximately ₦77.59 billion on the Nigerian Exchange (NGX). According to a regulatory filing dated July 22, 2026, Calvados Global Services Limited, a company associated with the […]

AfCFTA is live in 2026, but Nigerian businesses still do not get a continent-wide free pass. The real opportunity is narrower and more practical: if your product sits on a tariff line already covered by a verified offer, meets rules of origin, and clears destination-country procedures, you can reduce landed cost and open new buyers. […]

The Nigerian National Petroleum Company Limited (NNPCL) is facing growing scrutiny over the ₦7.13 trillion it recorded as energy security expenditure in its 2024 audited financial statements. The figure, listed as **Under-Recovery/Energy Security Expense**, appeared in the company’s 2024 audit report released in November 2025. Although NNPCL did not provide a detailed breakdown of the […]

Uncertainty has continued to unsettle Nigeria’s downstream petroleum sector as marketers slow fresh purchases of Premium Motor Spirit (PMS) following the Dangote Petroleum Refinery’s reported decision to price its products in United States dollars. The development has prompted many marketers to adopt a wait-and-see approach, fearing that buying large volumes of petrol under the current […]

President Bola Ahmed Tinubu has said his administration’s economic reforms are beginning to produce positive results, with Nigeria recording greater fiscal stability and laying the foundation for sustainable growth. The President made the remarks on Wednesday while receiving a delegation from Deloitte Africa, led by the firm’s Chief Executive Officer, Ruwayda Redfearn, at the Presidential […]

There is an old maxim in business that every institution eventually becomes a monument to the imagination, or limitations, of those who lead it. Banks, perhaps more than any other corporate organization, bear the imprint of their builders. Some are shaped by accountants who worship prudence above possibility. Others are molded by traders intoxicated with […]