Imports choke textile industry, rise to N1.1trn in two years
Nigeria’s dependence on imported textile materials has almost tripled with importation surging by 181 per cent in two years to N1.08 trillion in 2025 from N377.47 billion in 2023, despite repeated efforts to revive the oncethriving local textile industry.
Oil price drops, marketers keep pump price high
By Udeme Akpan, Energy Editor & Ediri Ejor Crude oil prices including Nigeria’s Bonny Light has dropped significantly to $98 per barrel amid growing speculation that the US-Iran war — a major factor driving the current market instability — may soon come to an end. But contrary to expectations pump prices in Nigeria remained high […]
FirstHoldCo Profit Rockets 72.2% in Q1
FirstHoldCo Plc delivered a masterclass performance in its first-quarter 2026 financials, recording a 100 year-on-year profit before tax (PBT) growth. Profit before tax (PBT) jumped to -321.12 billion from -186.48 billion in the corresponding period of 2025, supported by steady interest-earning capacity and robust fee income generation. The first quarter of 2026 marked a definitive […]
FRC unveils incentives to grow actuarial workforce
The Financial Reporting Council of Nigeria (FRC) has unveiled a range of incentives aimed at boosting the country’s actuarial workforce, as it moves to address what it described as a critical shortage of certified professionals. Speaking at Lagos State University of Science and Technology (LASUSTECH), Ikorodu, Former Head of Directorate of Audit Practice Standards, FRC, Mr. […]
REFINERIES: NUPENG demands results over FG, China partnership
The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has called on the Federal Government (FG) and the Nigerian National Petroleum Company Limited (NNPCL) to ensure that the newly signed partnership with Chinese firms for the rehabilitation of the Warri and Port Harcourt petrol refineries delivers concrete results, saying Nigerians are tired of repeated promises […]
Recapitalisation: 15 insurers verified, 9 still under review
As the insurance sector recapitalisation exercise gathers momentum, about 15 firms have so far successfully undergone capital verification out of the 24 firms approved by the National Insurance Commission (NAICOM).
