Business and economic news
Flour Mills of Nigeria said its partnership at the 62nd Paris International Agricultural Show supports stronger trade ties with France and wider opportunities for Nigerian agribusiness.
As Nigeria seeks to close its housing gap, Dr CKC Obiekwe’s focus on clear-title land systems, planned estates and diaspora-linked projects is being cited as part of broader private-sector support for national growth.
The Maritime Workers Union of Nigeria shipping branch visited WACT in Onne, praised the terminal’s $115 million upgrade investment, and called for deeper cooperation on labour relations, safety and upcoming union elections.
PETROAN says Nigeria should complete the privatisation of NNPC refineries by the first quarter of 2026, arguing that private-sector control is needed to end repeated losses, improve efficiency and reduce dependence on imported fuel.
NIPCO Gas says the Sagamu–Ibadan gas pipeline is now 80 per cent complete and on track for delivery between June and July, with expected gains for manufacturers in Ogun and Oyo states.
Nigeria’s equities market closed lower again, wiping N475 billion off investor holdings as persistent profit-taking in major stocks dragged key indicators.
Nigeria’s economy expanded by 4.07 per cent year-on-year in real terms in the fourth quarter of 2025, according to the latest Gross Domestic Product report released by the National Bureau of Statistics, with services remaining the biggest contributor to output.
Guaranty Trust Holding Company posted ₦600.9 billion profit before tax for first-half 2025, driven by growth in interest and fee income despite the absence of large fair-value gains recorded a year earlier.
Aliko Dangote has retired as Chairman and director of Dangote Cement Plc, with Emmanuel Ikazoboh appointed new board chairman as the group shifts focus to refinery, petrochemicals and fertiliser growth.
Trading on the Nigerian Exchange ended mixed on Wednesday, with Jaiz Bank and Okomu Oil Palm leading gainers while overall breadth stayed negative despite stronger volume.
BUA Cement Plc posted profit after tax of N356.04bn in 2025, up from N73.91bn in 2024, as revenue rose to N1.179trn and foreign exchange losses fell sharply.
NBS data shows Nigeria received $16.78bn in capital importation in the first nine months of 2025, but most inflows came from portfolio investments rather than long-term FDI.
