Author: Ogochukwu Ndubuisi

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…

11 Ships Laden with Various Commodities Arrive Lagos Ports Twelve ships have arrived Lekki, Tincan and Apapa ports in Lagos, waiting to discharge diesel, crude oil, bulk urea, aviation fuel and general cargo. The Nigerian Ports Authority (NPA) stated this in its publication – “Shipping Position”, a copy of which was made available to the News men on Friday in Lagos. The document stated that 38 ships laden with petroleum products, food items and other goods were being expected in Apapa, Lekki and Tin-Can Island ports from Feb. 27 to March 7. The NPA added that the expected ships contain…

Alleged Terrorism: Court Grants Malami, Son N200m bail The Federal High Court, Abuja has admitted former Attorney-General of the Federation (AGF), Abubakar Malami, and his son, Abdulaziz, to N200 million bail on charges bordering on alleged terrorism and illegal possession of firearms. Justice Joyce Abdulmalik granted the bail on Friday while ruling on the application argued by the defendants’ lead counsel, Mr Joseph Daudu, SAN. The defendants, however, were ordered to be remanded in Kuje Correctional Centre pending the perfection of their bail conditions. Some of the bail conditions included that the former AGF and his son must produce two…

The Central Bank of Nigeria (CBN) has made another foreign exchange market intervention this week to address the ongoing depreciation of the naira.

MTN Nigeria to Pay Shareholders N15 as Final Dividend Telecommunication company MTN Nigeria Plc has declared a financial dividend of N15 per ordinary share for the financial year 2025, payable to its shareholders. In its audited financial statement submitted to the Nigerian Exchange, the telecom giant delivered N1.11 trillion for 2025, reversing the previous year’s loss as performance improved significantly. MTN Nigeria, which had been in a dividend holiday, rebounded with a bang, first declared N5 per ordinary share in the second half of 2025, and topped it up with an additional financial dividend with April 8 as the qualification…

Oil Prices Surge over U.S.-Iran Unclosed Nuclear Deal Brent crude rose above $71 per barrel as crude oil prices jumped in the global commodity market on Friday. Oil climbed as the absence of a concrete outcome from nuclear negotiations between the US and Iran sustained concerns over global supply. International benchmark Brent crude traded at $71.19 per barrel at 9.40 a.m. local time (0640 GMT), up 0.2% from the previous close of $71.01. US benchmark West Texas Intermediate (WTI) increased 0.2% to $65.62 per barrel, compared with $65.46 in the previous session. Iranian Foreign Minister Abbas Araghchi said progress had…