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Savannah ends share buyback as NIPCO increases stake

02.01.2026
Savannah Energy Plc has announced plans to terminate its ongoing share buyback programme as its largest shareholder, NIPCO Plc, moves to increase its ownership stake in the company. The British independent energy company said in a statement made available to our correspondent on Thursday that it intends to enter into a relationship agreement with NIPCO,...
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Probe N11.35tn Spent on NNPC Refineries, Marketers Urge FG

02.01.2026
The Petroleum Products Retail Outlets Owners Association of Nigeria has demanded that authorities fully account for an estimated N11.35tn reportedly spent on the rehabilitation of state-owned refineries, warning that continued opacity undermines confidence in the petroleum sector and worsens the country’s energy insecurity. In its review of Nigeria’s petroleum sector for 2025 and prospects for...
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Nigeria’s Manufacturing Sector Set for 3.1% Growth in 2026

02.01.2026
Manufacturing was constrained in 2025, recording successive quarterly declines of up to 1.25 per cent in the real growth rate. Yet stakeholders share a positive outlook dependent on new tax laws and the execution of the ‘Nigeria First’ policy, ARINZE NWAFOR writes Manufacturing stakeholders, including the Manufacturers Association of Nigeria and the Centre for the...
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How Govt Backing Can Boost Nigeria’s Manufacturing Growth

02.01.2026
Lagos Chamber of Commerce and Industry President and Universal Power Systems CEO, Leye Kupoluyi, tells ARINZE NWAFOR how manufacturing and youth-focused businesses can drive and consolidate Nigeria’s economic growth Nigeria recently posted a 3.98 per cent GDP growth, yet lower-income citizens have seen little benefit. How can the government accelerate these gains for them? Nigeria’s...
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Gold rally boosts Ghana & Zimbabwe currencies in 2025

02.01.2026
The historic gains of gold in 2025 have resulted in record gains for the Ghanaian and Zimbabwean currencies. According to Bloomberg, Ghana’s cedi posted a 41 per cent gain against the American dollar, the first annual gain since at least 1994, when Bloomberg began compiling the data. That made it the best performer among 144...
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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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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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