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Unilever posts N5.6bn profit in Q1

20.05.2025
Unilever Nigeria Plc has reported a profit after tax of N5.6bn for the first quarter ended March 31, 2025, representing a 65 per cent increase from the N3.4bn recorded in the same period of 2024. The unaudited financial statement filed with the Nigerian Exchange showed that the company posted a turnover of N46.9bn in the...
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Neimeth’s Q1 profit rises 49%

20.05.2025
Neimeth International Pharmaceuticals Plc has recorded a significant increase in profit after tax, rising by 49 per cent in the first quarter of 2025, according to its interim financial report released at the Nigerian Exchange. The company’s profit after tax grew from N77.65m in the first quarter of 2024 to N115.76m in the same period...
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Trade facilitation improves as NPA adopts FG’s growth agenda

20.05.2025
The Managing Director of the Nigerian Ports Authority, Dr Abubakar Dantsoho, has demonstrated the desire to shake up old-fashioned narratives at the nation’s premier maritime agency, a development that is driving trade facilitation and the Federal Government’s strategy of growing exports, ANOZIE EGOLE writes Since his appointment as the Managing Director of the Nigerian Ports...
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Telcos plan virtual network operators summit

20.05.2025
Nigeria’s telecommunications sector, energised by 43 new Mobile Virtual Network Operator licenses, is set for a pivotal gathering as Africa Hyperscalers hosts a high-level summit in Lagos on May 21, organisers said. The event, MVNO Nigeria 2025: Unlocking Growth, Competition & Connectivity, will bring together industry executives to navigate the challenges and opportunities reshaping the...
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FG grants China approval to establish electric vehicle factories

20.05.2025
The Chinese Ambassador to Nigeria, Yu Dunhai, has harped on the imperative of enhanced collaboration between China and Nigeria in unlocking the potential of Nigeria’s Solid Minerals sector through the establishment of electric vehicle factories in Nigeria. Dunhai disclosed this while paying a courtesy visit to the Minister of Solid Minerals Development, Dr Dele Alake,...
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NNPCL refineries not producing enough petrol – DAPPMAN

20.05.2025
The Depot and Petroleum Products Marketers Association of Nigeria has said that its members can only buy Premium Motor Spirit (petrol) from the Dangote Petroleum Refinery, as the refineries owned by the Nigerian National Petroleum Company Limited cannot optimally produce premium motor spirit but naphtha. DAPPMAN’s Executive Secretary, Olufemi Adewole, confirmed this in a chat...
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CBN reaffirms banking sector stability amidst rumour

20.05.2025
The Central Bank of Nigeria on Monday dismissed reports suggesting distress in a regulated financial institution, describing the claims as misleading and capable of triggering unnecessary panic in the financial system. In a press statement signed by the Acting Director of Corporate Communications, Hakama Sidi-Ali, the apex bank assured Nigerians that the country’s banking sector...
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Oil spill forces Renaissance to halt production, investigate cause

20.05.2025
Renaissance Africa Energy Company Limited has confirmed an illegal connection on its Okordia-Rumuekpe pipeline at Oshika community in Rivers State, causing an oil spill. According to the indigenous oil producer on Monday, the company was immediately isolating the pipeline and stopping production to minimise potential environmental impact. In a statement released by the company, it...
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Market cap sheds N8bn amid mixed trading

20.05.2025
The Nigerian Stock Exchange started the new trading week with an N8 bn decline in market value despite improvements in trading activity. The All-Share Index dipped slightly by 12.54 points, or 0.01 per cent, to close at 109,697.83. Despite the small loss, the ASI posted a one-week gain of 1.33 per cent, a four-week gain...
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Brewery sector rebounds with N1.9tn revenue

20.05.2025
Nigeria’s brewery industry witnessed a turnaround in 2024, recording a 71.8 per cent year-on-year surge in revenue to N1.9tn, surpassing Afrinvest West Africa’s earlier growth projection of 39.2 per cent. This was revealed in Afrinvest’s latest sector update report titled “Brewing Back to Profitability”, released in May 2025. The report attributed the revenue performance to...
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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...

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Man who asked Tinubu to resign admitted in psychiatric hospital

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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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