By Ayomide Otitoju MTN Nigeria reported a profit after tax of ₦355.5 billion in the first quarter of 2026, representing a 165.9 per cent year-on-year increase, driven by strong revenue growth and foreign exchange gains.In its unaudited financial results released on Wednesday, the telecom operator said it expects a potential 1.8 to 2.0 percentage point…
Brussels on Wednesday announced a temporary relaxation of state aid rules, allowing European Union member states to channel public funds into sectors severely affected by rising energy costs.The European Commission said the move will enable governments to support hard-hit industries such as agriculture, fisheries, and transport as energy and input costs continue to rise.EU Competition…
By Ayomide Otitoju The average cost of cooking gas in Nigeria rose significantly in March 2026, with a 5kg cylinder selling for ₦7,655.73 and a 12.5kg cylinder climbing to ₦19,652.83, according to the latest Liquefied Petroleum Gas (LPG) Price Watch released by the National Bureau of Statistics.The report shows that the price of refilling a…
By Ayomide Otitoju The NNPC Foundation Ltd./Gte. has conducted its second 2026 financial literacy training for Batch A, Stream 2 corps members of the National Youth Service Corps at the FCT orientation camp in Kubwa, Abuja.The programme, delivered in partnership with the NYSC Skills Acquisition and Entrepreneurship Development (SAED) scheme, focused on financial literacy, entrepreneurship,…
By Ayomide Otitoju The NNPC Limited has announced the successful completion of the River Niger crossing on the 130-kilometre Obiafu-Obrikom-Oben (OB3) Gas Pipeline, marking a significant advancement in Nigeria’s gas infrastructure expansion.The project, executed by the NNPC Gas Infrastructure Company (NGIC), a subsidiary of NNPC Limited, unlocks the full capacity of the OB3 pipeline, which…
By Ayomide Otitoju The average cost of preparing a pot of jollof rice in Nigeria rose to ₦30,435 in March 2026, driven by surging fuel prices linked to global oil market disruptions following the Iran-related conflict, according to a new report by SBM Intelligence.The report, titled Jollof Index Q1 2026, showed that the cost of…
By Ayomide Otitoju Nigerian National Petroleum Company Limited has increased the official selling prices of all 37 Nigerian crude grades for May-loading cargoes, amid rising global oil prices driven by escalating tensions in the Middle East, particularly the conflict involving Iran, the United States, and Israel. According to industry reports, the national oil company raised…
By Ayomide Otitoju Guaranty Trust Holding Company Plc has reported a marginal 0.88 per cent year-on-year increase in profit before tax to N302.89 billion for the first quarter ended March 31, 2026, compared to N300 billion recorded in the corresponding period of 2025.However, profit after tax declined by 15.42 per cent to N218.13 billion, largely…
By Ayomide Ottoju MTN Nigeria Communications Plc has announced plans to divest its ownership in Y’ello Digital Financial Services and sell a 60 per cent stake in MoMo Payment Service Bank to MTN Group in a transaction valued at N152.06 billion. The proposed deal, disclosed in a shareholders’ FAQ ahead of the company’s Annual General…