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Elumelu is Seplat’s largest shareholder in a $496m deal

02.01.2026
Renowned entrepreneur and philanthropist Tony Elumelu, through his investment vehicle Heirs Holdings and its subsidiary, Heirs Energies Ltd, has become the largest shareholder in Seplat Energy Plc following the acquisition of a 20.07 per cent equity stake from Establishments Maurel & Prom S.A. in a transaction valued at $496m. The deal was disclosed in a...
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Aradel acquires 40% additional stake in ND Western

02.01.2026
Aradel Holdings Plc has completed the acquisition of an additional 40 per cent equity interest in ND Western Limited, strengthening its position in Nigeria’s upstream oil and gas sector. In a statement released on the Nigerian Exchange on Wednesday, the company said the transaction was executed through its wholly owned subsidiary, Aradel Energy Limited, following...
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NNPC Cuts Petrol Price Below N800/L Amid N502bn Profit

02.01.2026
The Nigerian National Petroleum Company Limited recorded a profit after tax of N502bn in November 2025, sustaining its profitability streak despite a decline in crude oil and condensate production during the month. This came as the state-owned energy firm simultaneously joined an intensifying price war in the downstream sector by cutting the pump price of...
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NGX Records N36.46tn Capitalisation Gain in 2025

02.01.2026
The Nigerian Exchange Limited recorded a significant increase in value in 2025, with total market capitalisation rising by N36.46tn year-to-date, reflecting sustained investor confidence and renewed interest in equities. At the beginning of the year, trading on Thursday, 2 January 2025, opened with a market capitalisation of N62.92tn and an All-Share Index of 103,180.14 points....
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Naira Exchange Rate Ends 2025 Stronger at Official Market

02.01.2026
The naira on Wednesday closed 2025 stronger against the US dollar, trading at N1,435.75 at the official foreign exchange market. Central Bank of Nigeria data showed that the currency gained N9.93, marking continued firmness at the year end. This followed Tuesday’s close of N1,445.68, translating to a 0.7 per cent day-on-day appreciation. A CBN official...
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How Recyclable Plastics Innovations Can Transform the Econom

02.01.2026
A Nigerian-born polymer scientist, Kingsley Samson, has said waste-to-energy technology and recyclable polymer innovations have the potential to expand access to clean power. According to a statement, Samson, a doctoral researcher in Polymer Science at the University of Akron in the United States, added that the innovations can reduce environmental pollution in developing and industrial...
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NCDMB Launches Tech Innovation Challenge for Oil & Gas Secto

02.01.2026
The Nigerian Content Development and Monitoring Board has launched the 2025/2026 Nigerian Content Research, Innovation, and Technology Challenge, calling for proposals aimed at solving key technological gaps in the oil and gas industry and its linkage sectors. In a statement by the General Manager of Corporate Communications, Obinna Ezeobi, the board said the competition, which...
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Insurance stocks surge 93% as market cap hits N904bn

02.01.2026
Nigeria’s insurance sector recorded a sharp rally in 2025, with combined market capitalisation climbing by 93 per cent year-on-year to approximately N904bn as of 24 December 2025. The surge reflects broad-based gains across 17 underwriters listed on the Nigerian Exchange Limited, driven by renewed investor confidence, improved earnings outlooks, and sustained re-rating of previously undervalued...
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Nigerian Banks’ Bad Loans Spike After CBN Ends Forbearance

02.01.2026
Nigeria’s banking sector recorded a rise in bad loans in 2025 after the Central Bank of Nigeria withdrew the regulatory forbearance granted to lenders during the COVID-19 pandemic, according to the apex bank’s latest macroeconomic outlook report. The report showed that the banking industry’s Non-Performing Loans ratio climbed to an estimated seven per cent, exceeding...
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Dangote Refinery Fuels West Africa’s Refining Boom

02.01.2026
West Africa is rapidly developing into a regional refining and trading hub, driven largely by the impact of Nigeria’s 650,000 barrels-per-day Dangote Petroleum Refinery and broader government efforts to achieve refined product self-sufficiency and expand export capacity, a report by Argus Media has stated. The report noted that the independently owned refinery has significantly altered...
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I apologise for saying no heaven without tithe – Adeboye

04.10.2024
The General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adeboye, has apologised for saying that Christians who don’t pay tithe might not make it to heaven. Adeboye who had previously said that paying tithe was one of the prerequisites for going to heaven, apologised for the comment while addressing his congregation Thursday...

Protesters storm Rivers electoral commission, insist election must hold

04.10.2024
Angry protesters on Friday stormed the office of the Rivers State Independent Electoral Commission, singing and chanting ‘Election must hold’. They defied the heavy rainfall spreading canopies, while singing and drumming, with one side of the road blocked. The protest came after the Rivers State governor stormed the RSIEC in the early hours of Friday...

Man who asked Tinubu to resign admitted in psychiatric hospital

04.10.2024
The Adamawa State Police Command has disclosed that the 30-year-old Abdullahi Mohammed who climbed a 33 kv high tension electricity pole in Mayo-Belwa last Friday has been admitted at the Yola Psychiatric hospital for mental examination. The Police Public Relations Officer of the command SP Suleiman Nguroje, told Arewa PUNCH on Friday in an exclusive...

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