By Ayomide Otitoju Chairman of First HoldCo Plc, Femi Otedola, has reaffirmed his long-term commitment to the financial services group, disclosing that he has invested more than ₦600 billion of his personal wealth in the company as its market capitalisation surpassed ₦6 trillion, marking a new phase in the institution’s transformation. In an interview with…
By Ayomide Otitoju FirstBank has reinforced its commitment to supporting women-owned businesses with the successful maiden edition of the Spark A Gem Challenge, a flagship Women-Preneur Pitch-a-Ton initiative under its FirstGem proposition. The programme was designed to equip women entrepreneurs with business education, mentorship, ecosystem connections and funding opportunities, while strengthening the bank’s commitment to promoting…
By Ayomide Otitoju Dangote Industries Limited and Sinoma International Engineering Co., Ltd. have signed a Memorandum of Understanding (MoU) worth more than $800 million to expand the Dangote Cement Plant in Itori, Ogun State, increasing its production capacity from six million to 12 million metric tonnes per annum. The agreement was signed by Dangote Group…
By Ayomide Otitoju The Niger State Government has signed a Memorandum of Understanding (MoU) with the Nigerian National Petroleum Company (NNPC) Limited for the development and implementation of a Gas Master Plan aimed at accelerating industrialisation and economic growth through the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline. The agreement was signed during the AKK and Energy Business…
By Ayomide Otitoju Lagos State Governor, Babajide Sanwo-Olu, on Friday commissioned Nigeria’s first integrated energy hub, developed by the Ibile Oil and Gas Corporation (IOGC), describing the facility as a major milestone in the country’s transition to cleaner, affordable and sustainable energy. Located along the Apapa-Oshodi Expressway, the facility combines multiple energy solutions, including Premium…
By Ayomide Otitoju MTN Nigeria Communications Plc has announced an investment of more than ₦620 billion in digital infrastructure during the first half of 2026, as the telecommunications company continues to expand network capacity, improve coverage and accelerate broadband connectivity across the country. The announcement accompanied the release of the company’s H1 2026 financial results,…
By Ayomide Otitoju MTN Nigeria Communications Plc recorded a 70.6 per cent increase in profit after tax to ₦707.54 billion for the six months ended 30 June 2026, driven by strong revenue growth, improved operational performance and continued investment in sustainability initiatives. The telecommunications giant disclosed in its condensed consolidated financial statements that revenue rose…
By Ayomide Otitoju British energy giant Shell has reported a sharp rise in second-quarter earnings, with net profit tripling to $10.8 billion as higher oil prices driven by conflict in the Middle East boosted revenue. In its earnings statement released on Thursday, the company said profit after tax for the April–June 2026 period increased from…
By Ayomide Otitoju Nigerian National Petroleum Company (NNPC) Limited recorded a profit after tax of ₦535 billion in June 2026, representing a 15.8 per cent increase from the ₦462 billion reported in May. The figures were contained in the company’s June 2026 Monthly Financial and Operations Report, which also showed total revenue of ₦4.389 trillion…
