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AGM confirms ₦24.28bn 2025 profit (+29.83%); management signals bid intent as FG concession programme advances Shareholders of Nigerian Aviation Handling Company approved a ₦12.18 billion dividend and a one-for-seven bonus share issue at the company's Annual General Meeting on Sunday, following a 2025 full-year profit of ₦24.28 billion, a 29.83 per cent increase from the previous year. Shareholders commended the board and management at the AGM for the strong financial perform

April expectations survey: 92.1% follow CBN communications; micro businesses feel prices hardest Energy costs, transportation expenses, and exchange rate instability are the three most significant drivers of inflationary pressure in Nigeria, according to the Central Bank of Nigeria's April 2026 Inflation Expectations Survey, released ahead of this week's MPC meeting. The survey, covering thousands of households and businesses nationwide, found that respondents ranked energy c

E-banking revenue crosses ₦685bn; system liquidity up 1,253% since recapitalisation began; Fitch flags lending acceleration ahead Nigerian banks have rebuilt their capital foundations to the strongest level in the sector's history, with combined shareholders' funds across the country's tier-one institutions reaching ₦27.77 trillion in 2025, a ₦5.8 trillion increase from 2024, as the CBN's recapitalisation programme concluded in March 2026. The expansion was driven primarily b

$6.75 billion inclusive finance deficit exposed; Sanusi challenges female bank CEOs on inclusion Nigeria has an estimated 40 million micro, small and medium enterprises, but most of them are operating outside any formal system, invisible to banks, government support programmes, and development finance institutions, the Director General of the Small and Medium Enterprises Development Agency of Nigeria said this week. Charles Odii, speaking at the Nigeria Business Summit 2026 s

$6.75 billion inclusive finance deficit exposed; Sanusi challenges female bank CEOs on inclusion Women own nearly 40 per cent of Nigeria's businesses but receive less than five per cent of formal credit in the country, according to a new baseline report on gender and social inclusion released at a business summit this week, the starkest published measure yet of Nigeria's financing gap for women entrepreneurs. The Gender, Equity and Social Inclusion Baseline Report, compiled

UAE quits OPEC+; Strait of Hormuz blockade holds; Nigeria's fuel costs directly linked Oil prices have surged to their highest level since Russia's 2022 invasion of Ukraine, with Brent crude hitting $126 a barrel intraday as the United States and Iran traded fire in the Strait of Hormuz and the ceasefire that had nominally held since early April collapsed under renewed military pressure. Brent crude rose as much as 7.5 per cent in a single session after US and Iranian forces

FUGAZ assets hit ₦161.4 trillion; First HoldCo PAT fell 92%; Fitch projects 20%+ loan growth in 2026 Nigeria's five largest banks collectively earned ₦18.2 trillion in gross income in 2025 and expanded their combined assets to ₦161.4 trillion, but a wave of elevated loan loss provisions triggered by the unwinding of regulatory forbearance sent profits sharply lower at three of the five institutions. Audited results for First HoldCo, United Bank for Africa, Guaranty Trust Hold

April inflation expectations survey released ahead of 305th MPC meeting; analysts project rate hold Sixty-three percent of Nigerians are calling on the Central Bank of Nigeria to reduce interest rates, according to the CBN's own April 2026 Inflation Expectations Survey, released ahead of the Monetary Policy Committee's two-day meeting beginning Tuesday. The survey, published by the CBN's Statistics Department under the Economic Policy Directorate, found that 63.3 per cent of

Facility targets agro-processing, health, green industries; 30% earmarked for small businesses The African Development Bank has approved a $200 million financing facility for Nigeria's Bank of Industry, directing at least 30 percent of the capital toward small and medium-sized enterprises, particularly businesses owned by women and young entrepreneurs. The AfDB's board approved the sovereign-guaranteed facility on May 15 to provide medium- and long-term funding for businesses

NNPC and NUPRC payments to Federation Account accelerate; Nigeria's dollar GDP hit $307.5bn in 2025 A presidential executive order compelling government agencies to promptly remit revenues to the Federation Account has driven a significant acceleration in oil sector payments to Nigeria's treasury, with the NNPC and the Nigerian Upstream Petroleum Regulatory Commission adding over ₦322 billion and $116.9 million in fresh remittances directly attributable to the directive. The

Century-old Lagos bridge beyond repair; new structure to extend to 1.93km; Third Mainland Bridge gets ₦24.89bn The Federal Government has approved the complete demolition and reconstruction of Carter Bridge in Lagos at a cost of ₦548.98 billion, after a decade of independent structural assessments unanimously concluded that the century-old crossing could not be repaired. Works Minister Dave Umahi announced the approval Thursday after the Federal Executive Council meeting chai

Meter manipulation by large customers costs ₦9.7bn monthly; NISO issues mandatory recalibration directive Nigeria's electricity grid is losing 180 megawatts of power to organised theft along a single transmission corridor in Lagos and Ogun states, a volume equivalent to the entire daily electricity allocation of the city of Jos, the Nigerian Independent System Operator disclosed this week. NISO Managing Director Abdu Mohammed Bello revealed the scale of the losses during a st