Business (Page 22)

First City Monument Bank (FCMB) provided N364.6 billion in financing to Nigeria’s agricultural sector in 2025, supporting more than 196,000 smallholder farmers nationwide, as the lender partners with Mastercard to expand access to credit, markets and agricultural services through a new digital platform. The bank disclosed this at the launchContinue Reading

By BUKOLA ARO-LAMBO and DEBORAH BELLO, Lagos Claims by the minister of finance and coordinating minister of the economy, Taiwo Oyedele, that some households spend as much as 120 per cent of their income on food have drawn mixed reactions from Nigerians, with an economist and residents split on theContinue Reading

Dangote Petroleum Refinery & Petrochemicals has issued a final call to investors as its Initial Public Offering (IPO) enters its last 48 hours amid unprecedented demand driven by its record financial performance. The company confirmed that the offer will close on Tuesday, 27 October 2026 as scheduled, with no extension.Continue Reading

Foreign investors’ participation in Nigeria’s capital market weakened sharply in the first nine months of 2026, as domestic investors accounted for N13.52 trillion of the N15.06 trillion transactions recorded on the Nigerian Exchange Limited (NGX). The development underscores the growing dependence of the equities market on local capital, with domesticContinue Reading

Lagos State Governor, Babajide Sanwo-Olu, has pledged support for the Chartered Institute of Stockbrokers (CIS) as it moves to establish a N5 billion endowment fund to strengthen professional training and capacity development in Nigeria’s capital market. Sanwo-Olu gave the assurance at the weekend, when the Institute’s president and chairman ofContinue Reading

BY OLUSHOLA BELLO AND OLAMIDE OJUOKAIYE, Lagos As rising electricity tariffs, fuel prices and unreliable power supply increase the cost of running households, some Nigerians are urging family members and friends to consider solar power systems as wedding gifts for newly married couples. They said solar panels and related equipmentContinue Reading

First HoldCo Plc’s 9 months 2026 performance marks an important transition: the Group is moving from balance sheet repair toward a more resilient, capital-supported growth phase. The headline is compelling — profit before tax rose 60.8% year on year to N911.2 billion, while profit after tax advanced 65.1% to N744.5Continue Reading

The Federal Government said it has disbursed N38.93 billion to 166 public tertiary institutions across the country under the Needs Assessment Revitalisation Fund to address infrastructure deficits and improve teaching and learning facilities. According to the Ministry of Finance, the disbursement covers 79 universities, 46 polytechnics and 41 colleges ofContinue Reading

The Nigeria Sovereign Investment Authority (NSIA), Africa50 and Sustainable Energy for All (SEforALL) have launched a $300 million Nigeria Distributed Renewable Energy (DRE) Fund aimed at expanding electricity access for underserved populations and businesses across Nigeria. The launch was highlighted as a key outcome of the inaugural ASIS Global ActionContinue Reading