Author: Ogochukwu Ndubuisi

Okomu Oil Records N172.6bn Revenue From Palm Products in 2025 Okomu Oil Palm Company Plc says its total revenue from palm products rose to N172.6 billion in 2025, representing a 60.5 per cent increase compared to 2024. The company also reported that cost of sales for the year under review stood at N112.339 billion, representing a 175.3 per cent increase over the previous year. The Chairman of Okomu Oil Palm Company, Mr Gbenga Oyebode, disclosed this at the company’s 46th Annual General Meeting (AGM) and 50th anniversary celebration on Tuesday in Abuja. Oyebode said the company recorded a gross profit…

The President of the African Development Bank (AfDB), Sidi Ould Tah, has called for urgent reforms to unlock Africa’s estimated four trillion dollars in domestic savings.

African Leaders Seek New Ways to Finance Infrastructure African ministers, financial institutions, and private sector leaders have called for innovative financing through asset recycling to support infrastructure development across the continent. The call was made during a roundtable on transforming public assets into capital held during the African Development Bank (AfDB) Annual Meetings in Brazzaville, Republic of Congo. The event was organised by Africa50 in collaboration with the AfDB Group. Participants said African countries faced growing debt pressures, shrinking budgets, and external economic shocks, making alternative financing increasingly necessary. They described infrastructure as critical for economic growth, competitiveness, regional integration,…

Brent crude prices rose on Tuesday following US military strikes targeting Iran, underscoring the fragility of ongoing diplomatic efforts toward a possible agreement.

Morocco now Africa’s Leading Industrial Economy- AfDB The African Development Bank (AfDB) says Morocco has overtaken South Africa as Africa’s leading industrial economy. The AfDB said this while inaugurating the 2025 Africa Industrialisation Index (AII) in Brazzaville. It is on the sidelines of its Annual Meetings alongside the inauguration of the Africa Industrial Investment Barometer report. According to the report, Morocco achieved the feat through sustained industrial upgrading, export diversification, and strong industrial policies. The report, however, stated that South Africa remained a major industrial powerhouse in spite of declining competitiveness. It said North and Southern Africa continued to dominate…

Airline Operators React to Debt Claim by NCAA ‎The Airline Operators of Nigeria (AON) has reacted to the claim that its members are indebted to the Nigeria Civil Aviation Authority (NCAA) for services the agency rendered. The association said in a statement in Lagos on Monday that all services rendered by NCAA to domestic airline operators were fully paid for in advance on a cash-before-service basis. AON also said that the NCAA issued invoices for all regulatory services it provided, including validation of crew operating licences, aircraft inspections and documentation renewals. It emphasised that airline operators were required to settle…

Equity investors in the Nigerian Exchange (NGX) gained N905 billion on Monday, as Airtel Africa and Oando Plc drove momentum, lifting the All-Share Index by 57 basis points.

Lagos Disburses N8bn to Retirees Lagos State Government has disbursed over eight billion Naira to its retirees under the Contributory Pension Scheme and the Defined Benefit Scheme. This is an effort to improve workers’ welfare and public service delivery. The Lagos State Head of Service, Mr Bode Agoro, gave the figure on Monday during the 2026 Lagos State Ministerial Press Briefing at Alausa, Ikeja. The briefing is to commemorate the third year of the second term in office of Gov. Babajide Sanwo-Olu. Agoro said that a total of N8,042,264,264.91 had been paid to the retirees, adding that it reflected the…

NGX Seeks Deeper Integration of African Capital Markets The Group Chairman of the Nigerian Exchange Group, Dr Umaru Kwairanga, has called for more collaboration among African stock exchanges to deepen capital markets, improve liquidity, and enhance the continent’s global competitiveness. Kwairanga made the call during a bilateral meeting with the Chairman of the Nairobi Securities Exchange, Mr Kiprono Kittony, where both parties explored opportunities for strategic cooperation between Nigeria and Kenya’s capital markets. In a statement on Monday, the NGX Chairman said the Nairobi Securities Exchange is one of Africa’s leading capital market institutions and a key gateway to East…

UBA Unveils Innovation Centre at UNILAG Campus United Bank for Africa (UBA) Plc on Monday deepened industry-academia collaboration with the inauguration of a four-storey Innovation Hub and Business Office at the University of Lagos (UNILAG). The facility, located on the university campus, is designed to promote innovation, research, and youth development. Speaking at the inauguration, Group Managing Director, UBA, Mr Oliver Alawuba, said the project is a strategic investment in education, innovation, and Africa’s future. According to him, more collaboration between universities and industry remains critical to driving economic transformation across the continent. The facility has two floors dedicated to…