The Okomu Oil Palm Company Plc reported a pre-tax profit of N87.3 billion for the year ending December 31, 2025, as per its recently released unaudited financial statements. This marks a 63.64% increase from the N53.3 billion recorded in 2024. However, fourth-quarter pre-tax profit dropped to N3.2 billion, compared to N12.5 billion in the same period last year. The Okomu Oil Palm company’s strong…
Infinity Trust Mortgage Bank Plc has announced plans to pay a dividend of 35 kobo per ordinary share for the 2025 financial year. The bank also approved a one-for-one bonus share issue, reflecting its strong financial performance. These decisions revealed in a corporate filing with the Nigerian Exchange (NGX) on Thursday. February 12, 2026, following…
Over the past week, cryptocurrency investors removed 330,000 Ethereum tokens from centralized exchanges. This withdrawal amounts to approximately $660 million in assets. According to on-chain data from Santiment, shared by crypto analyst Ali Charts, these outflows occurred over seven days, ending on February 11, 2026. Ethereum’s Price and Exchange Balances Ethereum is currently trading below…
The Senate Committee on Special Duties on Wednesday rejected a proposed N127 million allocation for the purchase of an SUV for Aso Villa, describing the amount as “totally unacceptable.” Lawmakers announced the decision during the budget defence of the Ministry of Special Duties and Intergovernmental Affairs, led by Minister Zephaniah Jisalo. ‘It Cannot Buy a…
Stanbic IBTC has cautioned that external factors, such as oil price volatility and global political uncertainty. Could disrupt Nigeria’s economic growth in 2026, despite improvements in the country’s macroeconomic fundamentals. This warning came from a team of investment analysts at Stanbic IBTC Asset Management Limited. Led by Mr. Abdul Azeez, during a virtual review of…
Japaul Gold & Ventures Plc has announced the appointment of Abubakar Lawal, a seasoned finance professional, as a Non-Executive Director. However, The announcement was made in a notice signed by the Company Secretary, Chidimma Okolo, on Wednesday, February 11, 2026. The company described this appointment as a pivotal step in its growth journey. It aims…
Nigeria’s crude oil production increased to 1.459 million barrels per day (bpd) in January 2026, solidifying its position as Africa’s largest oil producer. However, the country’s output remained below its Organisation of Petroleum Exporting Countries (OPEC) quota. The data was revealed in OPEC’s latest Monthly Oil Market Report (MOMR), published on Wednesday. While the figures show…
Dangote Petroleum Refinery and Petrochemicals imported nearly 250,000 metric tonnes of crude oil and intermediate feedstocks at its Lekki terminal in Lagos. Nigerian Ports Authority data revealed the details. The imports included refinery feedstock and petroleum blending components such as crude oil, condensate, naphtha, and cracked gasoline. The vessel Seaways Montauk delevered 140,187 metric tonnes…
The naira appreciated to N1,349.5 per US dollar in the official foreign exchange market on Tuesday. This marks the first time it has traded below the N1,350/$ threshold since May 29, 2024. Data from the official market shows the currency improved from Monday’s rate of N1,354.9 per dollar. The appreciation reflects sustained gains in the…
The Lagos State Government has announced a four-week partial closure of the Lagos–Abeokuta Expressway to carry out essential repairs on damaged sections of the road. This announcement made in a statement signed by the Commissioner for Transportation, Oluwaseun Osiyemi, on Tuesday. However, The closure will affect both inbound and outbound lanes between U-Turn Bus Stop…
