Author: Ogochukwu Ndubuisi

Year-to-date return moderated to 24% as the Nigerian Exchange (NGX) market capitalisation dropped by N1.4 trillion amid profit-taking in some stocks that recently rallied in the local bourse.

Otti Approves Establishment of SME Village, Innovation Hub in Aba The Abia Government has approved the establishment of an SME Village and Innovation Hub in Aba to boost small and medium-scale enterprises, Gov. Alex Otti has said. Otti said this on Friday night, during the February edition of his monthly media parley at the Government House, Umuahia. He said that the hub would serve as a centre for enhanced productivity and innovation. He also said that the facility would serve as a center for sale and repair of computers and mobile phones. Otti said it would strengthen local entrepreneurs’ capacity…

Abia Govt. to Convene Business Roundtable to Drive Investment Growth The Abia government says plans are underway to hold a roundtable to create a platform for the state to engage the business community. Mr. Chinedum Chijioke, Director-General, Abia Public-Private Partnership and Investment Promotion Office, disclosed this during a news conference on Friday in Umuahia. Chijioke noted that the meeting tagged “Abia Business Roundtable”, had been scheduled to hold on Thursday and would be presided over by Gov. Alex Otti of Abia. He further described the meeting as a platform for the business community and the government to collaborate on and…

Israel Launches ‘Preemptive’ Strike on Iran Israeli Defense Minister Israel Kartz says Israel has launched a “preemptive” strike against Iran. Explosions were heard in Tehran on Saturday night, with thick smoke seen rising over parts of the city. Sirens also sounded across Israel, which declared a “special and immediate” state of emergency across the country. This includes a prohibition on educational activities, gatherings, and workplaces, except for essential sectors. Israel’s Channel 12 said the U.S. and Israel launched the attack jointly. The strikes come amid diplomatic efforts between U.S. and Iranian officials for a deal on Iran’s nuclear program. Badr…

Orient Petroleum MD, Nnaemeka Nwawka, Foundation, Jailed 14 yrs for N25bn Fraud Justice O.M. Anyachebelu of the Anambra State High Court, Awka, has convicted and sentenced the Managing Director of Orient Petroleum Resources Plc, Mr Nnaemeka Nwawka and the Registered Trustees of Sage Nebefeife Foundation to 14 years imprisonment each for fraud involving N25 billion. The defendants were convicted on a 10-count charge bordering on stealing, fraudulent conversion and gratification. The court held that between April and December 2012, the convicts fraudulently converted N82.8 million transferred from Vhelbherg International Limited’s account with Standard Chartered Bank into the account of Sage…

The Nigerian Exchange (NGX) closed negatively on Friday, with equities investors or shareholders recording a loss of about N476 billion in their combined equity portfolio value.

Dangote, Sinoma Sign $1bn Deal for Cement Projects Dangote Cement Plc (DCP), a subsidiary of Dangote Industries Limited, at the weekend in Lagos, signed a landmark agreement with Sinoma International Engineering for the construction of 12 new projects and the expansion of others across Africa. The landmark agreement, with an estimated investment of over $1 billion, reinforces the Company’s long-term growth strategy and aligns with the broader aspirations of the Dangote Group’s Vision 2030. Speaking at the signing ceremony, Founder & President of Dangote Group, Aliko Dangote, described the new projects as part of carefully designed critical enablers of DCP’s…

NGX Group Posts N15.6bn Profit, Raises Dividend Nigerian Exchange Group Plc (NGX Group) has reported a profit before tax of N15.6 billion for the financial year ended Dec. 31, 2025, up from N13.6 billion recorded in 2024. The group disclosed this in its audited financial results released on Friday in Lagos and signed by its Acting Company Secretary, Mr Izuchukwu Akpa. It said the performance underscored strong earnings resilience in spite of a challenging macroeconomic environment. Operating profit rose by 44.4 per cent to N11.8 billion, while core revenue grew by 36 per cent to N22.9 billion from N16.9 billion…

Power Generation Falls to 4,300MW Amid Gas Shortage – NISO The Nigerian Independent System Operator (NISO) says power generation has dropped to approximately 4,300 megawatts due to inadequate gas supply to thermal generating stations. The management of NISO disclosed this in a statement on Friday in Abuja, warning that the reduced output directly affected electricity supply to distribution companies (DisCos). According to the statement, thermal plants account for the majority of Nigeria’s generation mix, so any disruption in gas supply limits overall grid capacity and reduces energy allocation to DisCos. “Operational data shows thermal power plants require about 1,629.75 million…

Fintiri Formally Defects to APC Gov. Ahmadu Fintiri of Adamawa has announced his defection to the All Progressives Congress (APC) from Peoples Democratic Party (PDP) to strengthen development efforts and reposition the state in national politics. Fintiri disclosed this at a news conference on Friday in Yola. He said the decision followed extensive consultations with stakeholders, aimed at ensuring long-term stability, development and prosperity for the people of Adamawa. The governor said that the move would enable the state to support President Bola Tinubu’s Renewed Hope Agenda on social welfare, infrastructure, housing and inclusive economic development. He added that “after…