Manufacturers deepen local raw materials sourcing, up 11% in 3yrs
By Yinka Kolawole Nigeria’s manufacturing sector recorded a steady increase in the use of locally sourced raw materials between 2021 and 2024, with the share rising from 51.5 per cent in 2021 to 57.1 per cent in 2024, as foreign exchange pressures, naira depreciation and rising import costs pushed manufacturers towards domestic alternatives. Data from […]
Leadway unveils ‘Leadway PFA’ as unified brand following successful consolidation journey
The organisation reassures all contributors that the brand transition requires zero action on their part. All RSA balances, unique PINs, and historical financial records remain perfectly intact
AIICO retains composite licence without capital raise, posts solid Q2 performance
AIICO Insurance Plc has received a new operational licence from NAICOM, confirming its full compliance with the recapitalisation requirements
Mutual Benefits meets NAICOM recapitalisation milestone, strengthen industry leadership position
“This achievement goes beyond meeting a regulatory requirement. It is a reaffirmation of our enduring promise to policyholders”
Dangote Refinery drops PMS to N1,165/litre, diesel to N1,570/litre
By Peter Egwuatu Dangote Petroleum Refinery has announced a reduction in the ex-depot prices of Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel), effective Thursday 6th of August, thereby reaffirming its commitment to providing affordable, high-quality petroleum products to the Nigerian market. The company in a statement said, under the new pricing structure, the […]
Withdrawal of COVID-19 Forbearance pushes banks’ bad loans above CBN limit
By Elizabeth Adegbesan The withdrawal of the Central Bank of Nigeria’s (CBN) COVID-19 regulatory forbearance given to banks has pushed banks’ Non-Performing Loans (NPLs) ratio to 9.94 per cent in the first quarter of 2026 (Q1’26), significantly above the apex bank’s prudential benchmark of 5.0 per cent. The development was disclosed in the CBN’s first quarter […]
