April 2026 – Page 62

NSIA profits plunge 91% as FX windfall disappears in 2025

06.04.2026

The Nigeria Sovereign Investment Authority recorded a sharp contraction in its bottom-line performance for the 2025 fiscal year, as the massive foreign exchange gains that bolstered its previous year’s results failed to repeat. According to the 2025 Special Purpose US Dollar Consolidated and Separate Financial Statements, the Authority’s profit for the year plummeted to $107m,...

Business

MTN separates mobile money into standalone fintech in Ghana

06.04.2026

Africa’s largest telecom operator, MTN Group Ltd., has completed the structural separation of its mobile money business in Ghana, creating a standalone fintech entity as part of regulatory compliance and a broader push to expand digital financial services. The Johannesburg Stock Exchange-listed company said Thursday that Scancom PLC, its Ghanaian unit, had finalised the transaction...

FG Cracks Down on Adulterated Fuel at Filling Stations

06.04.2026

The Federal Government, through its Nigerian Midstream and Downstream Petroleum Regulatory Authority, has vowed to clamp down on filling stations selling adulterated and substandard petroleum products across the country. The regulator disclosed that it had commenced routine random sampling inspections as part of a systematic quality certification process aimed at ensuring petroleum products sold in...

Nigeria Secures Aircraft Financing Deals at Aviation Summit

06.04.2026

The Minister of Aviation and Aerospace Development, Festus Keyamo, has outlined four major deals and achievements recorded at the just-concluded Nigerian Aircraft Acquisition and Investment Summit 2026, describing the outcomes as a significant breakthrough for Nigeria’s aviation sector. Keyamo, who spoke through a statement signed by his media aide, Tunde Moshood, on Friday, said the...

Tensions threaten investment & Nigeria’s energy security

06.04.2026

The risks of a prolonged crisis in the Middle East have raised investor caution and threaten global capital flows, industry operators and stakeholders have warned, prompting calls on the Federal Government to improve Nigeria’s energy security. The conflict involving the United States, Israel, and Iran has entered its second month, disrupting key shipping routes such...

How Rising Energy Costs Impact Global Food Prices

06.04.2026

Global food commodity prices rose for a second consecutive month in March, driven largely by higher energy costs linked to escalating conflict in the Near East, the Food and Agriculture Organisation of the United Nations said in its report released on Friday. The FAO Food Price Index, a benchmark that tracks monthly changes in international...

Foreign Recruitment Scams Targeting Nigerian Youths

06.04.2026

Amid rising unemployment and the growing “japa” wave, a dangerous trend is emerging as foreign recruitment scams target vulnerable Nigerian youths with promises of jobs and scholarships. Beneath these offers lies a darker reality, with reports linking some victims to the Russia-Ukraine conflict, exposing the urgent need for awareness, vigilance, and stronger institutional response to...

UNDP & PIND Partner for Niger Delta Development & Investment

06.04.2026

The United Nations Development Programme and the Foundation for Partnership Initiatives in the Niger Delta have formalised a strategic partnership to advance integrated, scalable development and investment solutions across the Niger Delta. The partnership, established through a Memorandum of Understanding under the Integrated Smart States Programme, aims to accelerate inclusive economic transformation, strengthen institutions, promote...

ADVAN Awards 2026 Honours Top Brands like Indomie & Terra Cu

06.04.2026

Indomie dominated the roster as the Advertisers Association of Nigeria recognised brands during the recently held 2026 African Awards for Marketing Excellence. According to a statement, the event, which drew top marketing professionals and business executives from across the continent, celebrated brands and individuals driving innovation and contributing to economic growth, with nearly 200 entries...

Dangote Refinery Disputes Reports of Increased Crude Allocat

06.04.2026

Officials of the Dangote Petroleum Refinery are unaware of claims that seven crude cargoes have been allocated to it in May by the Nigerian National Petroleum Company Limited, The PUNCH reports. Senior officials at the refinery told our correspondent that, although talks were ongoing with the NNPC, they could not confirm an increase in the...