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Markets

Transcorp Power Revenue Hits ₦398bn as Capacity Climbs to 550MW, Hikes Payout 10%

Transcorp Power Plc, the electricity generation subsidiary of the Tony Elumelu-led Transcorp Group, reported a 30% surge in revenue for the 2025 fiscal year,...

Nigeria Eyes Chinese Partnership to Revive Idle Oil Refineries

Nigerian National Petroleum Co. (NNPC Ltd) is in advanced negotiations with a Chinese petrochemical titan to take over the operations of its four state-owned...

Ex-NEXIM Bank MD bags 490-Year Jail Term For Fraud

A High Court of the Federal Capital Territory, FCT, Abuja, on Thursday, convicted a former Managing Director of Nigerian Export Import (NEXIM) Bank, Mr...

MTN in Advanced Talks to Buy Remaining IHS Stake for $2.8bn

MTN Group, Africa’s largest telecommunications operator, is in advanced negotiations to acquire the remaining 75% stake in IHS Holdings Ltd., the tower infrastructure giant...

Mutual Benefits Hits ₦20bn Profit Milestone on Improved Operating Margins

Mutual Benefits Assurance Plc bucked the industry trend of rising overheads, reporting an 84.52% surge in net profit for the 2025 fiscal year. The insurer’s...

Dangote Refinery Refutes Import Claims, Says Allegations Are False and Misleading

… Reaffirms Commitment to Delivering Euro‑Standard Fuel to Nigerians Dangote Petroleum Refinery & Petrochemicals (DPRP) has firmly denied reports suggesting that it imports finished petroleum...

South Africa Joins Afreximbank, Announces US$8bn Country Programme

The Republic of South Africa has today officially acceded to the Establishment Agreement of the African Export-Import Bank (Afreximbank), Africa’s leading Multilateral Financial Institution,...

Elumelu’s Redtech Eyes $100 Million Raise for Africa Blitz

Redtech Ltd., the fintech arm of billionaire Tony Elumelu’s Heirs Holdings, is weighing a capital raise of approximately $100 million over the next 24...

Lafarge Africa Unveils Multi-Billion Naira Expansion at Key Plants

Lafarge Africa Plc, a leading player in the sub-Saharan building materials sector and a member of the Holcim Group, has announced a significant ramp-up...

Aradel Profit Hits ₦401bn as Energy Giant Books ₦201bn M&A Gain

Aradel Holdings Plc, Nigeria’s premier listed integrated energy firm, delivered its strongest financial performance to date, reporting a 55% surge in net profit for...

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