By Ayomide Otitoju President of the Dangote Group, Alhaji Aliko Dangote, has revealed plans to list the $20 billion Dangote Refinery on the stock exchange, offering Nigerians an opportunity to become shareholders in the landmark facility located in Lekki, Lagos State. Dangote made the disclosure at the Global Commodity Insights Conference on West African Refined…
By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPC Ltd.) has officially ruled out the sale of the Port Harcourt Refining Company (PHRC) and announced plans to raise new funding to complete the rehabilitation of its refineries in Port Harcourt, Warri, and Kaduna. Group CEO Bayo Ojulari made the declaration during a company-wide town…
By Ayomide Otitoju Sterling Financial Holdings Company Plc (Sterling HoldCo) has reported a 157% year-on-year increase in profit after tax, reaching ₦41.78 billion for the half-year ended June 30, 2025, up from ₦16.26 billion in the same period of 2024. The unaudited financial results released on Wednesday showed earnings per share rose to 89 kobo…
By Ayomide Oitoju BUA Foods Plc has posted a 101% year-on-year growth in profit before tax, reaching ₦276.1 billion for the half-year ended June 30, 2025, according to unaudited financial results submitted to the Nigerian Exchange Group on Wednesday. The company’s revenue climbed by 36% to ₦912.5 billion, supported by strong performances across its sugar,…
By Ayomide Otitoju Sterling Financial Holdings Company Plc (Sterling HoldCo) has announced a 157% increase in profit after tax (PAT), reaching ₦41.78 billion in the first half of 2025, up from ₦16.26 billion in the same period of 2024. The unaudited results, released Wednesday, also detail the Group’s next steps in a recapitalisation drive that…
By Ayomide Otitoju UAC of Nigeria PLC has reached an agreement to acquire CHI Limited—producers of Chivita and Hollandia brands—from The Coca-Cola Company, in a move aimed at strengthening UAC’s footprint in the Nigerian consumer goods sector. The transaction, subject to regulatory approval, aligns with Coca-Cola’s global strategy to adopt a flexible, asset-light model while…
By Ayomide Otitoju The Federal Government has praised the Dangote Petroleum Refinery for its world-class infrastructure and investment in Nigerian talent, calling it a symbol of national industrial capacity. Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, gave the commendation during an official tour of the 650,000 barrels-per-day facility in Lagos, describing the project…
By Ayomide Otitoju Akinola, Technical Assistant (Media) to the Executive Chairman of the Federal Inland Revenue Service, has commended President Bola Tinubu’s new tax laws, describing them as a bold step toward correcting Nigeria’s ailing economy and strengthening fiscal federalism. Drawing from decades of experience studying Nigeria’s fiscal policies—from the oil boom of the 1980s…
By Ayomide Otitoju The Institute of Chartered Accountants of Nigeria (ICAN), Fidelity Bank Chapter, has inaugurated Mr. Audifax Onuoha as its new Chairman at the Chapter’s 4th Investiture and Patron Conferment Ceremony held at Fidelity Bank’s Head Office, Fidelity Place, Lagos. The event also marked the formal inauguration of the Chapter’s 2025–2027 Executive Committee. Mr….
