February 2026 – Page 165

Lagos Luxury Housing Boom: 2,500 New Homes Delivered

02.02.2026

Lagos’s luxury housing market is experiencing a significant boom, with developers having delivered 2,500 high-end homes and another 3,000 units currently under construction across the city. The surge spans prime neighbourhoods, including Ikoyi, Banana Island and Ikeja GRA, signalling growing investor confidence and strong demand for upscale residential properties. Speaking during a recent project delivery,...

Cargo agents protest FAAN tariff, threaten legal action

02.02.2026

Cargo agents operating at Murtala Muhammed Airport, Lagos, have petitioned the Inspector-General of Police, the Director of the Department of State Services, the Director-General of Civil Aviation, and other relevant authorities over a decision by the Federal Airports Authority of Nigeria. In their joint petition, obtained by our correspondent, the agents alleged that FAAN threatened...

LG & CleanAce Partner to Drive Laundry Industry Growth

02.02.2026

LG Electronics Nigeria has partnered with CleanAce Foundation & Academy to strengthen Nigeria’s fabricare and dry cleaning industry through the Hyper Masterclass Conference, themed “Making Audacious Moves in 2026.” In a statement on Sunday, it was stated that the event, targeted at members of the Fabricare Professionals and Drycleaners Association, delivered practical business insights and...

Delayed Insurance Decisions Compound Risks, Warns CEO

02.02.2026

The Managing Director and Chief Executive Officer of Coronation Insurance Plc, Olamide Olajolo, has warned that when Nigerians delay decisions surrounding insurance, they compound their risks. He said this in an interview where he highlighted the company’s ‘Insure and Win 2.0’, which was launched during the festive season. The PUNCH reports that Coronation Insurance launched...

Nigeria Pension Assets Hit Historic N27.45tn High in 2025

02.02.2026

Nigeria’s pension fund assets closed 2025 at a historic high of N27.45tn, consolidating the steady growth recorded through the final quarter of the year, according to the unaudited pension funds industry portfolio report for the period ended 31 December 2025. According to the figures released by the National Pension Commission, the year-end figure represents a...

NGX All-Share Index Slips 0.09% in Weekly Trading

02.02.2026

Last week, the Nigerian Exchange Limited All-Share Index fell 0.09 per cent to close the week at 165,370.40 points, while market capitalisation rose 0.18 per cent to N106.153tn. Most other indices closed higher, except NGX 30, CG, Premium, Banking, Pension, Growth, and NGX Pension Broad, which recorded declines of 0.13, 0.63, 0.75, 0.63, 0.41, 1.13,...

NEM Insurance Praised for Timely Claims Payouts

02.02.2026

Some NEM Insurance customers have praised the company for its timely claims payments and quality service. One of the customers, the Chief Executive Officer of King John Environment Services, Ogunyinka Johnson, commended NEM Insurance Plc for exceptional service and strong commitment to prompt claims settlement. In a video testimonial, Ogunyinka, who has maintained a comprehensive...

Linkage Assurance Revenue Grows by 24% to N27.6bn in 2025

02.02.2026

Underwriting company Linkage Assurance Plc delivered a robust operating performance in the 2025 financial year, driven by premium growth across its insurance portfolios. This performance was reported in the company’s unaudited financial statements for the period ended 31 December 2025, filed on the Nigerian Exchange Limited. According to the report, the company posted a 24...

PwC Cautions Firms on Slow Interest Rate Relief in Nigeria

02.02.2026

PwC warns that even as Nigeria’s macroeconomic stability improves, with easing inflation and stronger business confidence, the benchmark interest rate is unlikely to fall as quickly as businesses hope. This was discussed in Lagos at PwC’s Executive Roundtable on Nigeria’s 2026 Budget and Economic Outlook, held in partnership with BusinessDay, where senior PwC partners, economists...

IFC partners Terra Kulture for Nigerian creative economy

02.02.2026

The International Finance Corporation, a member of the World Bank Group, has entered into a partnership with Terra Kulture Arts and Studios Limited to strengthen the Nigerian creative economy. This was disclosed in a statement issued on Friday following the signing of the agreement in Lagos. The PUNCH reports that in the past year, IFC...