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Category: Business
Business News
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DANGOTE CEMENT SIGNS $1BN DEAL WITH SINOMA FOR 12 NEW PLANTS ACROSS AFRICA.
Dangote Cement Plc has signed a landmark $1 billion agreement with Sinoma International Engineering to construct 12 new cement plants and expand existing facilities across Africa. This strategic partnership aims…
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MTN NIGERIA INVESTS HEAVILY IN NETWORK EXPANSION.
MTN Nigeria has invested N1tn in 2025 to expand fibre infrastructure, roll out additional base stations, and strengthen network capacity nationwide. The capital expenditure, more than double the prior year’s…
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GLO AND SAMSUNG LAUNCH GALAXY S26 SERIES: PRE-ORDERS NOW OPEN.
Globacom, Nigeria’s digital solutions company, has partnered with Samsung to launch the highly anticipated Galaxy S26 series in Lagos. The event marked the beginning of an exclusive pre-order window for…
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NNPC SET TO LAUNCH CAWTHORNE CRUDE GRADE, EYEING OPEC BOOST.
Nigeria’s national oil company, NNPC, is set to launch a new crude oil grade called Cawthorne in March, aiming to boost the country’s oil production and strengthen its position within…
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SHEIN BOSS TO PUMP $1.45BN INTO CHINA FASHION HUB.
Shein founder Xu Yangtian, also known as Sky or Chris Xu, made a rare public appearance at the High-quality Development Conference in Guangzhou, Guangdong, pledging to invest over 10 billion…
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BUA GROUP CHAIRMAN ABDUL SAMAD RABIU GIFTS 510 EMPLOYEES $20.7MILLION.
Abdul Samad Rabiu, Chairman of BUA Group, has gifted 510 employees $20.7 million (N30 billion) as a token of appreciation for their commitment and dedication to the conglomerate. Five staff…
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CBN’S CRR POLICY PUSHES BANKS’ MANDATORY RESERVES TO N6.9TN.
The Central Bank of Nigeria’s (CBN) Cash Reserve Ratio (CRR) policy has pushed the mandatory reserves of five Nigerian banks to N6.9 trillion in 2025, a 6.5% increase from 2024….
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GUINNESS NIGERIA REPORTS 144% REVENUE GROWTH, POSTS N41.2BN NET PROFIT.
Guinness Nigeria Plc has reported a significant increase in revenue, with a 144% rise to N730.8 billion for the 18-month period ended December 31, 2025, compared to N299.5 billion in…
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NNPC’S BAYO OJULARI RECEIVES PRESTIGIOUS ENERGY INSTITUTE FELLOWSHIP.
The Nigerian National Petroleum Company Limited (NNPC) has achieved a significant milestone in its global repositioning with the conferment of its Group Chief Executive Officer, Bayo Ojulari, with the prestigious…
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DANGOTE PLEDGES $1.1M TO SUPPORT POSTGRADUATE BUSINESS STUDENTS AT BAYERO UNIVERSITY KANO.
Aliko Dangote has committed $1.1 million (N1.5 billion) to support postgraduate business education at Bayero University Kano’s Dangote Business School over the next five years. The Aliko Dangote Foundation will…
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NIGERIAN BREWERIES PLC POSTS 35% REVENUE GROWTH, NET PROFIT SURGES 168%.
Nigerian Breweries Plc has indeed posted impressive results for the financial year ended December 31, 2025, with revenue growing 35% to N1.467 trillion from N1.084 trillion in 2024. This growth…
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NIGERIA’S FOREIGN RESERVES SOAR TO 13-YEAR HIGH OF $48.5BN.
Nigeria’s foreign exchange reserves have climbed to $48.5 billion, marking a significant milestone. This represents the strongest balance since May 14, 2013, when reserves stood at $48.51 billion, according to…
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JUMIA NIGERIA LAUNCHES AGGRESSIVE RETAIL STRATEGY TO TRANSFORM ONLINE SHOPPING.
Jumia Nigeria has launched an aggressive retail strategy to make online shopping a daily habit for millions of Nigerians, signalling a decisive shift from survival-driven resilience to expansion and digital…
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DANGOTE GROUP SIGNS $400 MILLION DEAL WITH XCMG TO BOOST REFINERY EXPANSION.
Dangote Group has signed a $400 million construction equipment agreement with XCMG Construction Machinery to accelerate the expansion of its refining and industrial operations across Africa. The deal will enable…
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DANGOTE GROUP APPOINTS ALIKO DANGOTE’S DAUGHTERS TO KEY ROLES.
Aliko Dangote, Africa’s richest businessman, has appointed his daughters to key executive roles within the Dangote Group as part of its succession plan. Halima Dangote will oversee the Family Office…
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DANGOTE REFINERY TO HIT 1.4M BARRELS PER DAY, SAYS OTEDOLA.
Billionaire Femi Otedola recently visited the Dangote Refinery, praising it as the “8th wonder of the world”. The refinery is undergoing an expansion project that will increase its capacity to…
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DANGOTE REFINERY’S LOCAL SUPPLY BOOM LOWERS PETROL IMPORTS.
Dangote Petroleum Refinery’s local supply of petrol has increased by 25.3% to 40.1 million litres in February 2026, contributing to a drop in petrol imports into Nigeria. According to the…
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FX reserves to hit $51bn by 2026 — CBN
By Oluwakemi Abimbola. The Central Bank of Nigeria predicts external reserves will climb to $51.04bn in 2026, up from $45bn in 2025. This projection was contained in the Macroeconomic Outlook for…
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