Business (Page 13)

Seplat Energy Plc has recorded a 174 per cent jump in profit for the nine months ended September 30, 2026, posting net income of $260.2 million, up from prior year, as strong production growth and premium crude pricing boosted performance. The company, listed on the Nigerian Exchange Limited and LondonContinue Reading

Sugar producers operating existing facilities in Nigeria have committed to raising annual output to 1.22 million metric tonnes by 2030, two years ahead of the national target, as government reforms improve the investment climate for local production. The Executive Secretary and Chief Executive Officer of the National Sugar Development CouncilContinue Reading

  HBM Nigeria Plc, has recorded a 19 per cent growth in revenue to N928 billion in the nine months ended September 30, 2026, driven by volume growth, operational stability and improved distribution efficiency. The cement maker disclosed this in its nine months 2026 unaudited results. According to the results,Continue Reading

By BUKOLA ARO-LAMBO and SAMUEL TYOTSUA, Lagos FirstBank of Nigeria Limited has partnered technology retailer Pointek to enable eligible customers to purchase smartphones, laptops, AirPods and household appliances on credit, with repayment spread over three or six months. The arrangement requires customers to pay 30 per cent of the purchaseContinue Reading

Former director-general of the Nigerian Maritime Administration and Safety Agency (NIMASA), Temisan Omatseye, has explained that the $350 million Cabotage Vessel Financing Fund (CVFF) was converted into naira rather than retained in dollars, exposing its value to the impact of exchange rate depreciation. NIMASA, Navy Renew Pact To Tackle EmergingContinue Reading

Nigeria is targeting annual foreign exchange savings of $1 billion and the creation of 110,000 direct jobs through domestic sugar production, as the National Sugar Development Council (NSDC) said President Bola Tinubu’s macroeconomic reforms have improved prospects for achieving self-sufficiency. The executive secretary and chief executive officer of NSDC, MrContinue Reading

The director general of the National Information Technology Development Agency (NITDA), Kashifu Inuwa, has disclosed that 326 ministries, departments and agencies (MDAs) spent more than N3.8 trillion on technology between June 2023 and the period covered by the government’s analysis. Inuwa, while speaking during an Executive Regulatory Dialogue on NationalContinue Reading