Author: Ogochukwu Ndubuisi

The Court of Appeal in Abuja on Tuesday set aside a judgment directing the Independent National Electoral Commission (INEC) to deregister the African Democratic Congress (ADC) and four other political parties.

Italy Slashes Diesel Tax Again to Counter High Fuel Prices Italy has approved a temporary cut to diesel tax in response to rising fuel prices, passing a decree to reduce the price of diesel by 0.17 euros (0.19 dollars) per litre until Aug. 6. Finance Minister Giancarlo Giorgetti said the measure would cost the state around 125 million euros and does not apply to petrol. The move was justified by rising diesel prices resulting from the currently tense situation in the Middle East and the near-total closure of the strategically important Strait of Hormuz. Giorgetti said the government would examine…

Rwanda to Phase Out 2G, 3G Mobile Networks Rwanda has announced plans to phase out its 2G and 3G mobile networks as part of efforts to accelerate the deployment of advanced digital infrastructure across the country. The Ministry of Information and Communication Technology and Innovation (MINICT) said that the 3G services would be discontinued nationwide by June 30, 2027, while 2G services would be retired subsequently. It said the move would allow mobile network operators to redirect resources towards expanding 4G services and laying the foundation for wider 5G deployment. According to the ministry, the transition is expected to improve…

NLNG Generates $149.6bn, Moves to Expand LNG Capacity Nigeria LNG Limited (NLNG) says it has generated 149.6 billion dollars in revenue since inception and has begun exploratory activities for additional LNG trains beyond the ongoing Train 7 project. The Chief Executive Officer of NLNG, Mr Adeleye Falade, disclosed this on Tuesday in Lagos during the unveiling of the company’s Facts and Figures 2026 publication. Falade said NLNG had paid 47.2 billion dollars in dividends to its shareholders and 10.8 billion dollars in taxes to the federal government since becoming tax compliant in 2009. He said the company currently operates six…

NCC, REA Sign MoU to Drive Digital Infrastructure Expansion Through Renewable Energy The Nigerian Communications Commission (NCC) and the Rural Electrification Agency (REA) have formalised a strategic partnership to accelerate the deployment of sustainable digital infrastructure across Nigeria through the integration of renewable energy solutions and telecommunications infrastructure. The partnership was sealed with the signing of a Memorandum of Understanding (MoU) at the NCC–REA Stakeholder Workshop held at the NCC Annex Office Auditorium, Mbora, Abuja, on Friday, July 24, 2026. The workshop, themed “Unlocking the Energy–Telecoms Nexus for Scalable Digital Infrastructure in Nigeria,” brought together senior government officials, telecommunications operators,…

S&P Global announced today that it has agreed to acquire a majority stake in Agusto & Co..

H1 2026: FCMB Group Sustains Performance, Reports 99% Growth in Profit Before Tax to ₦157.3 Billion FCMB Group Plc (NGX: FCMB) has announced its unaudited financial results for the half-year ended June 30, 2026, reporting a 99% year-on-year increase in profit before tax to ₦157.3 billion from ₦79.1 billion in the corresponding period of 2025, extending the strong earnings momentum recorded in the 2025 financial year. Highlights of the six-month results released on the Nigerian Exchange Limited (NGX) showed year-on-year profit before tax growth across all four divisions of the Group: Consumer Finance (92%), Banking Group (80%), Investment Banking (76%),…

Recapitalisation Deadline: 70% Insurers Meet Requirements- NIA Chairman The Chairman of the Nigerian Insurers Association (NIA), Mrs Ebelechukwu Nwachukwu, says over 70 per cent of insurance companies have completed the verification exercise ahead of the July 31st recapitalisation deadline. Nwachukwu, who disclosed in an interview with the News Agency of Nigeria on Monday in Abuja, also said that the insurance industry’s recapitalisation exercise had entered its final phase. She said the exercise was introduced by the National Insurance Commission (NAICOM) to strengthen the financial capacity of insurance companies. She added that the exercise had followed a structured implementation framework that…

Linkage Assurance Finalises N16.2bn Rights Issue Linkage Assurance Plc says it has completed its N16.2 billion rights issue undertaken in response to the National Insurance Commission’s (NAICOM) recapitalisation directive for insurance companies operating in Nigeria. The company disclosed this in a corporate disclosure through the Nigerian Exchange Ltd. on Monday in Lagos. It noted that the exercise would strengthen the company’s capital base and position it for business expansion. According to the company, the rights issue involved 12.32 billion ordinary shares offered to existing shareholders at N1.32 per share. The offer opened on March 11, 2026, and closed on April…

The Nigerian Exchange (NGX) All-Share Index (ASI) fell due to sell pressure in mid- and large-cap stocks, including