Author: Ogochukwu Ndubuisi

Petrol Price Stood at N1,037.66 in June- NBS The National Bureau of Statistics (NBS) says the average retail price of a litre of petrol increased from N750.17 in June 2024 to N1,037.66 in June 2025. The NBS made this known in its Petrol Price Watch for June 2025 released in Abuja on Thursday. It stated that the June 2025 price of N1,037.66 represented a 38.32 per cent increase over the price of N750.17 recorded in June 2024. “Comparing the average price value with the previous month of May, the average retail price increased by 0.96 per cent from N1,027.76.” On state…

BUA Foods Profit Grows by 98.6% to N260bn in H1-2025 BUA Foods Plc. grew profit by 98.6% year on year to N260.069 billion in the first half of 2025, according to details obtained from its results for the unaudited H1 financials for the period ended 30 June 2025. The company revenue increased by 36% to N912.5 billion in H1 2025 from N672.3 billion in the comparable period in 2024. BUA said the strong revenue growth was as result of an improvement recorded across revenue segment. Its cost of sales also increased by 26% to N573.18 billion in H1 2025 from…

Zelenskyy Pushes for Regime Change in Russia, Confiscation of Assets Ukrainian President Volodymyr Zelenskyy has called on the international community to push for a “regime change” in Russia, warning that without such action, Moscow will continue to destabilize neighboring countries even after the war in Ukraine ends. Zelenskyy’s remarks came during a virtual address at a conference in Helsinki, Finland, marking the 50th anniversary of the Helsinki Final Act, a Cold War-era agreement aimed at improving relations between rival blocs. The Ukrainian leader emphasized that Russia can be compelled to stop its war in Ukraine, but a lasting solution requires…

FG, AfDB Set to Implement SAPZ in Oyo The Federal Government and the African Development Bank (AfDB) are set to perform the groundbreaking ceremony for the Oyo State Special Agro-Industrial Processing Zone (SAPZ). The AfDB made this known in a statement on Thursday in Abuja. The bank said that the 29 km project would be held at the SAPZ Phase 1 site in Atan, Ijaiye, Akinyele Local Government Area of Oyo State on Aug. 2. It said the project, supported by the state government and other international development partners, marked a significant milestone in Nigeria’s agricultural transformation and industrialisation drive.…

Shippers’ Council Seeks Abia Govt. Support to Revive Isiala Ngwa Inland Dry Port The Nigerian Shippers’ Council has called on Abia Government to support the revival of the Isiala Ngwa Inland Dry Port (IDP) and boost trade under the African Continental Free Trade Area (AfCFTA). The Executive Secretary of the Council, Dr Akutah Ukeyima made the call on Wednesday during a visit to Gov. Alex Otti of Abia in Nvosi , Isiala Ngwa South Local Government Area. Ukeyima said that the initiative would facilitate the positioning of Abia as a trade hub under the AfCFTA. He commended the present administration’s…

UK to Recognize Palestinian State in September Unless Israel Commits to Peace Process The UK government has announced plans to formally recognize the state of Palestine by September, unless Israel takes significant steps to address the humanitarian crisis in Gaza and commits to a long-term peace process. British Prime Minister Keir Starmer made this announcement after an emergency cabinet meeting, emphasizing that the UK’s decision is aimed at promoting a two-state solution. According to Starmer, Israel must take several key steps, including agreeing to a ceasefire in Gaza, making clear that there will be no annexation in the West Bank,…

August 1 Deadline for India-US Trade Deal or Face Higher Tariffs – Trump US President Donald Trump has warned India of potential tariffs as high as 25% on Indian imports if a long-pending trade agreement isn’t reached before the August 1 deadline. Trump expressed frustration with India’s high tariffs on American products, citing a significant trade deficit between the two nations. According to the Commerce Department data, the US imported $87 billion worth of goods from India in 2024, while exporting $42 billion. Key imports from India include pharmaceuticals, smartphones, and apparel. Trump emphasized that India charges more tariffs than…

NNPCL Has 3 Weeks to Address N210 Trillion in Audit Discrepancies – Senate The Senate Committee on Public Accounts has given the Nigerian National Petroleum Company Limited (NNPCL) a three-week deadline to respond to 19 audit queries related to unaccounted funds totaling N210 trillion. The queries, extracted from the company’s audited financial statements from 2017 to 2023, consist of N103 trillion in liabilities and N107 trillion in assets. NNPCL’s Group Chief Executive Officer, Bayo Ojulari, appeared before the committee and apologized for previous absences and also explained to its members that for satisfactory response from him on the 19 queries…

CAC to Delist 100,000 Dormant Companies The Corporate Affairs Commission (CAC) has announced plans to strike off approximately 100,000 inactive and non-compliant companies from its register. According to Section 692(3) and (4) of the Companies and Allied Matters Act 2020, these companies have failed to file annual returns and disclose beneficial ownership details for over 10 years. The CAC has given affected companies a 90-day ultimatum to regularize their status by filing outstanding annual returns and submitting necessary documents. Companies must also send activation emails to activation@cac.gov.ng where applicable. Failure to comply will result in removal from the register, rendering…

Equity Investors Gain N400bn, MRS Delists from Nigerian Exchange The Nigerian equities market sustained its bullish run on Monday, gaining about N400 billion as the local bourse opened the week’s trading on a positive note, despite mixed outcomes in key performance indicators. The Nigerian Exchange (NGX) all-share index climbed by 0.53%, adding 713.58 basis points to close at a new all-time high of 135,166.51. As a result of sustained hunting for stocks with strong fundamentals, equity market capitalization surged by ₦399.88 billion, representing a 0.47% increase to settle at ₦85.46 trillion. This gain lifted the year-to-date (YTD) return to 31.32%,…