Business

Banks’ Strategic Market Positioning: Turning Post-Recapitalization Challenges into Sustainable Benefits

Guest Writer 25 August 2025 0

By Ken George Iheme As the deadline for banks to meet new recapitalisation thresholds draws closer, the race is no longer just about raising capital. The real challenge is how to put that bigger capital base to work in a way that secures growth, profitability, and long-term stability. For

Maritime Top Stories

No life jacket, no boarding, NIWA tells boat passengers

Tunde Opalana 24 August 2025 0

Passengers travelling on Nigerian waterways without a life jacket will no longer be allowed to board. The National Inland Waterways Authority (NIWA) gave this warning. The Authority said it is ready to enforce this directive to stem avoidable loss of lives due to boat mishaps on the nation’s waterways. Mr. Akapo Adebayo, the Area Manager […]

Business

Sanwo-Olu projects N387.5bn annual export earnings from Lagos leather hub

Promise Eze 23 August 2025 0

Babajide Sanwo-Olu, Lagos State Governor, has projected annual export earnings of N387.5 billion from the newly inaugurated Industrial Leather Hub once it becomes fully operational. Speaking on Saturday at the commissioning of the facility in Matori, Mushin, Sanwo-Olu said the hub would establish Lagos as the leather logistics capital of West Africa. “Building on the […]

Business Top Stories

FAAC shares N2trn among FG, states, LGs in July

Vincent Afolabi 23 August 2025 0

The Federation Account Allocation Committee (FAAC) says it distributed N2 trillion among the three tiers of government in July 2025. The disclosure was made at the August FAAC meeting chaired by Wale Edun, minister of finance and coordinating minister of the economy. In a statement on Friday, Muhammed Manga, director of information and public relations […]

Business

Zenon Petroleum denies seizure of Victoria Island property over N7.2bn judgment debt

Promise Eze 23 August 2025 0

Zenon Petroleum & Gas Limited has refuted media reports claiming that its Victoria Island property was seized by the Court of Appeal in connection with a N7.2 billion judgment debt. In a statement signed by Paschal Chimezie, its counsel, and titled “Re: Appeal Court Seizes Zenon Property Over Unpaid Judgment Debt,” the company described the […]

Business

NLNG signs 20-year gas supply deals with six third-party firms

Vincent Afolabi 23 August 2025 0

Nigeria LNG Limited (NLNG) has signed long-term gas supply agreements (GSAs) with six third-party suppliers in a move to secure feedgas for its operations and support future expansion. The 20-year contracts, which come with extension options, will deliver about 1,290 million standard cubic feet per day of gas to NLNG’s facilities on Bonny Island, Rivers […]

Business

NIGCOMSAT eyes N8bn revenue through broadband expansion

Promise Eze 22 August 2025 0

The Nigerian Communications Satellite Ltd. (NIGCOMSAT) says it is targeting N8 billion in revenue within the next three years by expanding its broadband services. Jane Egerton-Idehen, NIGCOMSAT Managing Director, speaking at a stakeholder roundtable in Lagos on Friday, said only seven per cent of the company’s broadband capacity is currently utilised. “We know broadband

Business Top Stories

Reps summon 11 DisCos over N2.6trn debt to federation account

Msugh Ityokura 21 August 2025 0

The House of Representatives Public Accounts Committee has summoned 11 electricity distribution companies (DisCos) over a debt of N2.6 trillion owed to the federation account. The resolution was adopted on Wednesday during an investigative hearing chaired by Bamidele Salam, following a review of the 2021 Auditor-General’s report. At the session, Johnson Akinnawo, managing

Business

Nigeria deepens $25bn gas network as Africa confronts $170bn infrastructure gap

Motolani Oseni 21 August 2025 0

Nigeria is pressing ahead with a $25 billion cross-border gas pipeline project as Africa faces an infrastructure investment shortfall of up to $170 billion annually, underscoring the scale of financing needed to close the continent’s energy and development gap. The Nigeria-Morocco Gas Pipeline, also known as the African Atlantic Gas Pipeline, is moving towards construction

Business Top Stories

TICAD 9: Tinubu in Tokyo for strategic engagements not trade expo – Presidency

Ihesiulo Grace 21 August 2025 0

The presidency has defended President Bola Tinubu’s participation at the ongoing ninth Tokyo International Conference on African Development (TICAD9) in Yokohama, Japan, saying the mission is focused on strategic engagements with development partners rather than attending a trade exhibition. The clarification followed social media criticism over Nigeria’s unattended booth

Business

Oborevwori: N10bn approved to clear retirees’ pension backlog in Delta

Owen Akenzua 20 August 2025 0

Governor Sheriff Oborevwori of Delta state has approved the release of N10 billion for the payment of outstanding pension arrears owed retirees in the state. Oborevwori announced the approval on Tuesday during a meeting with the Pension Board, led by Edwin Ogidi-Gbegbaje, chairman of the Bureau of State Pensions, and Anthony Ozu Osanekwu, state chairman […]

Business Top Stories

Nigeria’s booth stands empty at TICAD9 opening day in Japan

Promise Eze 20 August 2025 0

Nigeria’s booth at the Ninth Tokyo International Conference on African Development (TICAD9) was left unattended for hours on the summit’s opening day, sparking embarrassment among delegates. The three-day conference, which runs from August 20 to 22 at the Pacifico Yokohama in Japan, brings together African governments, investors, and development partners. While other

Maritime

Human trafficking, stowaways cause $100m global loss yearly-Shippers Council

temitope adebayo 20 August 2025 0

The Nigerian Shippers’ Council (NSC) has raised an alarm that human trafficking and stowaway activities account for over $100 million in global economic losses annually. Executive Secretary/Chief Executive Officer of the Council, Dr Pius Akutah, disclosed this in Abuja while receiving the leadership of the National Agency for Prohibition of Trafficking in Persons (NAPTIP)

Business

NAICOM, SEC strengthen collaboration on insurance sector reforms

Motolani Oseni 20 August 2025 0

The National Insurance Commission (NAICOM) and the Securities and Exchange Commission (SEC) have pledged stronger collaboration to advance reforms in Nigeria’s insurance industry. This commitment followed a courtesy visit by the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, to the Director-General of SEC, Mr. Emomotimi Agama, at the Commission’s headquarters in

Business

Oil slips to $65.63 as Ukraine peace talks ease supply fears

Guest Writer 20 August 2025 0

Crude oil prices declined on Tuesday as progress in peace negotiations between Ukraine and Russia eased supply concerns, pushing Brent crude down 0.77 per cent to $65.63 per barrel from $66.14 at Monday’s close. U.S. benchmark West Texas Intermediate (WTI) also retreated 0.79 per cent to \$62.11 from $62.61 in the previous session. The pullback […]

Business

Coronation Insurance posts N49.4bn revenue, profit surges 527%

Motolani Oseni 20 August 2025 0

Coronation Insurance Plc has reported its strongest results in a decade, with revenue more than doubling to N49.4 billion and profit before tax soaring by 527 per cent to N13.8 billion in 2024. The company said this at its 67th Annual General Meeting (AGM), held at its head office in Ikoyi, Lagos, as it convened […]

Aviation

Nigerian govt bans flight mode on all flights

Chukwuemeke Iwelunmo 20 August 2025 0

The Nigerian Civil Aviation Authority (NCAA) has, in a critical move to standardise aviation safety, banned the use of flight mode on all flights. This new rule requires passengers to switch off all portable electronic devices during critical flight stages. It is a decisive action to ensure uniform compliance across all Nigerian airlines, eliminating the […]

Business

Equity investors lose N2.38trn as NGX plunges 1.46%

temitope adebayo 20 August 2025 0

The Nigerian Exchange (NGX) closed negative on Tuesday as the All-Share Index (ASI) shed 1.46 per cent, or 2,110.33 points, to settle at 142,613.47 points. Market capitalisation also dipped 1.46 per cent, erasing about N2.38 trillion to close at N90.23 trillion. The decline dragged the year-to-date return down to 38.56 per cent from 40.61 per […]

Aviation Business

Nigeria to host first-ever international airshow in December 2025

Chukwuemeke Iwelunmo 20 August 2025 0

Nigeria will host its first international airshow in December 2025, joining the ranks of countries that have successfully staged the global aviation event. The programme will place Nigeria alongside the United Kingdom, organisers of the Farnborough Airshow, the Dubai Airshow, Aviation Africa, and Ghana, which hosted a similar event in October 2017 that attracted thousands

Aviation

LAAC Honours SAHCO Chairman Afolabi with Aviation Visionary Award

Chukwuemeke Iwelunmo 20 August 2025 0

The League of Aviation and Airport Correspondents (LAAC) has honoured Dr. Taiwo Afolabi, (CON), Chairman of Skyway Aviation Handling Company (SAHCO) PLC, with the prestigious Aviation Visionary Investment Award at the 29th Annual LAAC Conference, held in Lagos. This year’s conference, themed “Financing Aviation in Nigeria: Risks, Opportunities and Prospects”, attracted key