March 2025 – Page 91

Analysts identify key drivers for Lagos’ $1tn GDP target

20.03.2025

Lagos is on a bold journey to a $1tn economy by 2052, leveraging policy reforms, infrastructure expansion, and foreign investment to cement its place as Africa’s economic powerhouse, analysts tell JUSTICE OKAMGBA how to make this target feasible Nigeria’s commercial powerhouse, Lagos, is setting an ambitious goal to become a $1tn economy by 2052. Home...

Firms collaborate for awards anniversary

20.03.2025

The PEARL Awards Nigeria has appointed UPTICOMM Marketing Company Limited as the official Sponsorship Marketing Consultants for its 30th-anniversary celebrations. In a statement from the Awards Secretariat in Lagos, the organisers revealed that it appointed UPTICOMM Marketing Company Limited following the signing of a Memorandum of Understanding between both organisations last week. President/ Chief Executive...

Investors Praise Tinubu’s Renewed Agenda Policies

20.03.2025

FoodsbyMomi has praised President Bola Tinubu’s economic policy for the growth of their food exporting business. Founders Omowunmi Owokoniran and Segun Michael Sosany said Tinubu’s Renewed Hope Agenda inspired their business diversification from importation to exportation of Nigerian food items. They said they recognised an urgent need to pivot towards export as the profitability of...

Stop military attacks on Discos, Adelabu tells NSA

20.03.2025

The Minister of Power, Adebayo Adelabu, has condemned the attacks on power distribution companies by military men, telling the National Security Adviser to call the soldiers to order. Adelabu kicked against the forceful abduction, intimidation, assault, brutalisation of the staff, and destruction of the facilities at the substation of the Eko Electricity Distribution Company in...

Oyetola urges Africa to spearhead green shipping decarbonisation

20.03.2025

The Minister of Marine and Blue Economy, Adegboyega Oyetola, has called on African nations to take a leading role in the decarbonisation of the global shipping industry. Speaking at the African Strategic Summit on Shipping Decarbonisation held in Abuja, Oyetola urged stakeholders to move beyond discussions and implement concrete solutions that will ensure Africa’s maritime...

Aviation professionals clamour for national carrier

20.03.2025

Aviation professionals have appealed to the Federal Government to establish a new national carrier despite a recent failed attempt following the liquidation of Nigeria Airways about 18 years ago. The General Secretary of the Nigerian Aviation Professionals, Abdulrazak Saidu, made the appeal in Lagos recently during the fourth Air Transport Quarterly Magazine annual award. Saidu...

Transcorp hits N2.97tn market cap, plans hotel expansion

20.03.2025

Transnational Corporation Plc has recorded a market capitalisation of N2.97tn and announced plans to expand its hospitality business with a new Hilton hotel in Ikoyi, Lagos. The President and Group Chief Executive Officer of Transcorp, Owen Omogiafo, disclosed this during an interview on Arise News on Tuesday, stating that the company’s success is driven by...

NGX downturn deepens with N265bn loss

20.03.2025

The Nigerian Exchange continued its losing streak on Tuesday, shedding N265bn as weak investor sentiment persisted. This marks the second consecutive loss of the week, dragging market capitalisation down to N66.1tn from the previous day’s N66.3tn. At the close of trading, the All-Share Index declined by 423.48 points, representing a 0.4 per cent drop to...

Banking stocks drive financial sector to N9.49tn market value

20.03.2025

The financial services sector on the Nigerian Exchange closed with a total market capitalisation of N9.49tn, driven by performances from banking stocks, particularly Guaranty Trust Holding Company Plc, Zenith Bank Plc, and Access Holdings Plc. Guaranty Trust Holding Company Plc emerged as the most valuable financial institution, with a market capitalisation of N2.07tn, trading at...

Cedrus partners RusselSmith on N3bn commercial paper issuance

20.03.2025

Cedrus Capital Limited, a financial advisory firm under Cedrus Group Africa, has successfully arranged the oversubscribed N3bn series one commercial paper issuance for RusselSmith Nigeria Limited, the company said in a statement on Tuesday, a financial advisory firm under Cedrus Group Africa, has successfully arranged the oversubscribed N3bn series one commercial paper issuance for RusselSmith...