Thousands of jobs are at risk in Lagos following the shutdown of several inland container terminals, as operators lament severe cargo shortages from Apapa and Tin-Can Island ports. The Association of Bonded Terminals Operators of Nigeria has confirmed that ITC Container Terminals, Alliance Container Terminal, and Creseada Container Terminals have ceased operations due to lack…
By Seun Ibiyemi Unilever Nigeria Plc has reported a 26 per cent increase in revenue to N59.2 billion for the first quarter ended March 31, 2026, up from N46.9 billion recorded in the corresponding period of 2025. The company disclosed this in its unaudited financial results submitted to the Nigerian Exchange Limited on Thursday in…
By Seun Ibiyemi The Nigerian Exchange Limited (NGX) recorded a strong performance for the week, with investors gaining N8.661 trillion amid heightened trading activity. According to a report, market capitalisation rose by 6.60 per cent to N139.827 trillion from N131.166 trillion recorded in the previous week. Similarly, the NGX All-Share Index advanced by 6.57 per…
The Central Bank of Nigeria (CBN), in collaboration with the Financial Markets Dealers Association (FMDA), has announced the introduction of the Nigerian Overnight Financing Rate (NOFR) as a new benchmark for the country’s money market. The development was disclosed in a statement issued on Friday in Abuja by Hakama Sidi-Ali, Acting Director of the CBN’s…
Global ratings agency Fitch Ratings has affirmed Nigeria’s sovereign credit rating at ‘B’ with a Stable Outlook, citing ongoing economic reforms, rising foreign reserves and improving macroeconomic conditions. The development was disclosed in a statement by Kamorudeen Yusuf, Personal Assistant on Special Duties to President Bola Ahmed Tinubu. According to the statement, Nigeria’s gross external…
By Seun Ibiyemi A recent intervention by the Benue State Government to restore electricity in parts of Makurdi has reignited debate over Nigeria’s 2013 power sector privatisation, with calls for urgent reforms and stricter accountability for distribution companies. In a public statement, energy expert Nick Agule commended the state government’s efforts to restore power to…
By Seun Ibiyemi Nigeria’s power generation sector recorded significant underperformance in March 2026, with only 30 per cent of installed electricity capacity available for dispatch, according to the Nigerian Electricity Regulatory Commission. Data from the commission’s March 2026 Operational Performance Factsheet showed that just 4,089 megawatts (MW) out of the total installed capacity of 13,625MW…
By Seun Ibiyemi The Federal Government has signed a Memorandum of Understanding (MoU) with Nestlé Nigeria Plc to enhance animal genetics and improve farmers’ productivity in the country’s livestock sector. The Minister of Livestock Development, Idi Maiha, disclosed this on Wednesday during the signing ceremony, noting that the partnership would establish a dairy skills development…
By Seun Ibiyemi President Bola Tinubu has inaugurated three major infrastructure projects in Lagos State, describing them as critical to improving governance, mobility, and economic growth in the state. The projects include the Open-Mende-Ojota Link Bridge, the Lagos State Geographical Information System (LAGIS) building, and the Multi-Agency Complex in Alausa, which has been renamed the…
By Seun Ibiyemi Standard Chartered Bank Nigeria has emerged as the leading Mergers and Acquisitions (M&A) financial adviser in West Africa by deal value, reinforcing its position in the region’s corporate finance landscape. The bank announced the achievement in a statement issued on Wednesday by its Head of Corporate Affairs, Brand and Marketing, Ms Joke…
