Emzor raises N26.7bn bond to boost local drug manufacturing
By Yinka Kolawole Emzor Pharmaceutical Industries has raised a $19.8 million (N26.7 billion) Series 1 Fixed Rate Bond on the FMDQ Group Exchange, in a major move to strengthen local pharmaceutical manufacturing and complete West Africa’s first full-scale anti-malarial Active Pharmaceutical Ingredient (API) manufacturing facility. The bond, issued through Emzor’s special purpose vehicle, Emzor Pharma […]
Eastern Ports Rehabilitation: FG awards Escravos Channel dredging, breakwater reconstruction
As part of efforts to revitalize the Eastern ports, the Federal Government, through the Nigerian Ports Authority (NPA), has awarded the contract for the reconstruction of the dilapidated Escravos Channel at Warri Port, Delta State. Confirming the development, Mr. Ikechukwu Oyenmakara, General Manager of Corporate and Strategic Communication at the Nigerian Ports Authority, stated that […]
Chinese imports from Nigeria jump 81% to $2.25bn after zero-tariff policy
By Efe Onodjae Chinese imports from Nigeria surged by 81 per cent year-on-year, YoY to $2.25 billion in the first half of 2026, following China’s implementation of a zero-tariff policy on products from 53 African countries, including Nigeria. The Consul General of China in Lagos, Yan Yuqing, disclosed this at the 2026 Nigeria International New […]
E-payment transaction volume falls 9.2%, value rises to N1,053trn
•POS transactions fall 20%, value drops to N59.3trn •ATM transaction value jumps 64.6% to N26.3trn By Babajide Komolafe Electronic payment transactions, via six channels, recorded a 2.85 per cent, year-on-year, YoY increase in value to N1.053 quadrillion in the first quarter of 2026, Q1’26 from N1.024 quadrillion in the same period of 2025, Q1’25. This […]
Nigeria-UAE trade surges 66.7% to $5bn in 1 year
By Yinka Kolawole Bilateral trade between Nigeria and the United Arab Emirates (UAE) rose by 66.7 percent to about $5 billion in 2025 from $3 billion in 2024, highlighting growing economic ties between both countries as they move towards formalising a Comprehensive Economic Partnership Agreement (CEPA). The development was disclosed when the UAE Ambassador to […]
Top consumer goods manufacturers post N3.5trn revenue in H1’26
By Yinka Kolawole The ten largest quoted fast moving consumer goods (FMCG) manufacturing companies in Nigeria sustained strong growth momentum in the first half of 2026 (H1’26), generating combined revenue of more than N3.5 trillion despite persistent inflationary pressures, elevated energy costs and foreign exchange volatility. An analysis of financial results filed with the Nigerian […]
