Stanbic IBTC Capital Limited has successfully led the issuance of Presco Plc’s N82.89 billion bond, reinforcing its role as a major player in Nigeria’s capital market. The seven-year, 23.75% senior unsecured fixed-rate Series I bond is part of Presco’s N150 billion bond issuance programme, designed to support the company’s strategic expansion across West Africa. Presco … Read more
Pan-African credit rating agency, Agusto & Co., has affirmed a ‘Bbb+’ rating for Baobab Nigeria, reflecting the company’s strong financial position and sound management practices within Nigeria’s microfinance sector. The announcement was made in a recent statement, highlighting Baobab Nigeria’s resilience and adaptability despite Nigeria’s challenging macroeconomic environment, marked by high inflation and intense industry … Read more
PE Energy Limited, a leading energy services company, has introduced an innovative technology known as Multi-phase Pump and Systems to tackle gas flaring and enhance oil production in Nigeria. The technology was unveiled in Lagos during an oil and gas seminar organized by PE Energy Limited in partnership with ITT Bornemann GmbH. The event, themed … Read more
The International Monetary Fund (IMF) has reported that Nigeria’s Gross Domestic Product (GDP) per capita declined to $835.49 in 2025 from $877.07 in 2024, marking a 4.74% decrease. This reflects a sustained downward trend since 2014 when the figure peaked at $3,220. GDP per capita measures the average economic output per person, indicating the standard … Read more
The Nigerian Ports Authority (NPA) has announced plans to implement a 15% increase in its tariffs, marking the first adjustment since 1993. The NPA stated that the move has received all necessary approvals and is driven by the urgent need to modernize Nigerian ports, improve infrastructure, and enhance competitiveness on the global stage. During a … Read more
The Nigerian National Petroleum Company Limited (NNPC Ltd.) and First Exploration & Petroleum Development Company Limited (First E&P) have successfully reduced routine gas flaring by an impressive 96% at the Anyala (OML 83) and Madu (OML 85) oil fields. This achievement marks a major milestone in Nigeria’s efforts to promote environmental sustainability and combat climate … Read more
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has raised serious concerns about the diversion of crude oil meant for local refineries, alleging that oil-producing companies are responsible for redirecting approximately 500,000 barrels of crude oil per day to the international market. This practice, according to PETROAN, has been detrimental to the growth … Read more
In a significant move to advance Nigeria’s digital economy, the federal government, through the Ministry of Communications, Innovation, and Digital Economy, officially launched the National Broadband Alliance for Nigeria (NBAN) in Lagos. This initiative aims to enhance infrastructure development and increase broadband access, bringing the country closer to achieving its goal of a digitally connected … Read more
The Nigerian Naira has sustained its positive momentum, appreciating to N1,595 per dollar in the parallel market on Tuesday. This marks a significant improvement from N1,610 per dollar on Monday, reflecting a N45 week-on-week (WoW) gain from N1,640 per dollar recorded last Tuesday. This steady rise in value signals a period of stability for the … Read more
The Association of Maritime Truck Owners (AMATO) has raised an alarm over the looming resurgence of severe gridlock in Apapa due to what they describe as a biased and poorly managed truck access system into the port. According to AMATO’s Secretary, Mr. Sani Mohammed, the growing problem stems from a discriminatory call-up system that frustrates … Read more