Femi Otedola leads FBN Holdings to $371.9 million profit in 9M 2024
FBN Holdings posts robust financial results as profit surges 125 percent under Femi Otedola’s leadership.
West & Central Africa
Pick 'n Pay announces exit from Nigeria amid financial losses
South African retailer offloads stake amid challenging market conditions.
Transcorp's revenue surpasses $180 million in the first nine months of 2024
Tony Elumelu, chairman of Transcorp Group.
Dangote Group commits $280 million to CNG technology for Nigeria’s low-carbon future
The move aligns with President Bola Tinubu’s push to make gas central to Nigeria’s low-carbon economy.
Femi Otedola’s $2.25-million gift to Augustine University deepens commitment to education
Otedola’s $2.25-million donation to Augustine University in Lagos bolsters his legacy in education and philanthropy.
This Nigerian entrepreneur built a $28-million-a-year plastic and mat business
Salisu Buhari's remarkable transformation from the shadows of political scandal to establishing a thriving multimillion-dollar manufacturing empire.
Dangote Cement revenue surges 69 percent to $1.56 billion in nine months
Pan-African operations drive growth; profit margins remain steady despite rising costs.
MTN CEO Karl Toriola urges tariff hike to prevent telecom shutdown
MTN Nigeria CEO Karl Toriola has called for a tariff hike to address rising operational costs and prevent a potential service shutdown, as the telecom giant faces significant financial pressures amid Nigeria’s challenging economic environment.
Unilever Nigeria posts $63.7-million turnover as Africa's consumer demand soars
Unilever Nigeria reports a 46-percent year-on-year turnover growth to $63.7 million, driven by rising consumer demand for health and hygiene products, solidifying its leadership in Africa’s fast-moving consumer goods sector.
Nigerian banking giant GTBank implements 40-percent salary hike amidst economic reforms
GTBank has increased employee salaries by 40 percent in response to Nigeria's economic reforms and rising inflation, reinforcing its commitment to staff welfare while maintaining its position as one of the country’s most cost-efficient banks.
Transcorp Hotels, led by CEO Dupe Olusola, reports 192-percent surge in pretax profit for Q3 2024
Transcorp Hotels, under the leadership of Dupe Olusola, has recorded remarkable growth, with a 192-percent jump in pretax profit for Q3 2024, solidifying its leadership in Nigeria’s hospitality sector.
Seplat Energy, founded by Austin Avuru, propels Nigerian equity market to $228-million gain
Seplat Energy led a $228-million rally in the Nigerian equity market, with its stock surging 9.99 percent and boosting investor confidence across the board.
Gabriel Ogbechie’s stake in Eterna surpasses $13 million on NGX
Nigerian oil magnate solidifies his position among the country’s richest investors.
Aradel Holdings sees $517-million market cap drop amid investor sell-off
The selloff coincides with Nigeria’s decision to reject Shell’s plan to offload its onshore oil assets to a consortium that includes Aradel, alongside ND Western and Waltersmith.
Nigerian government approves Seplat’s $1.28-billion acquisition of ExxonMobil assets
Seplat Energy receives Nigerian Government approval for $1.28 billion purchase of ExxonMobil onshore assets.
UBA posts $320.9-million profit in 9M 2024
This growth was bolstered by improved fee income and robust foreign exchange earnings, highlighting UBA's adaptability in volatile markets.