Prestige Assurance accepts director’s resignation
Prestige Assurance Plc has formally accepted the resignation of Girija Subramanian as a non-executive director of the company.
The Punch · 2 months ago · 1 min read(opens The Punch in a new tab)
Business news
Headlines from Nigerian publishers. Each story opens on the publisher's site.
UBA approves H1 2026 audited accounts, appoints Puri director
United Bank for Africa Plc has approved its audited financial statements for the half-year ended 30 June 2026, subject to clearance by the Central Bank of Nigeria.
The Punch · 2 months ago · 2 min read(opens The Punch in a new tab)
Geregu Power pays 8th coupon on N40.1bn bond
Geregu Power Plc has paid the eighth coupon and part of the principal due under its N40.085bn Series 1 Fixed Rate Bond.
The Punch · 2 months ago · 2 min read(opens The Punch in a new tab)
Elumelu’s Seplat investment doubles to over $1bn
Tony Elumelu’s investment in Seplat Energy has more than doubled in value, with his Heirs Holdings stake now worth over $1bn.
The Punch · 2 months ago · 2 min read(opens The Punch in a new tab)
Nigeria’s energy inflation drops to 4.37% in July
Nigeria recorded a sharp slowdown in energy-related price pressures in July, with energy inflation falling to 4.37 per cent, the lowest rate in four months, latest data from the National Bureau of Statistics show.
The Punch · 2 months ago · 2 min read(opens The Punch in a new tab)
Antibiotics hinder local egg powder production – Lagos farmers
Major food companies still reject locally produced egg powder because Nigerian poultry farmers commonly use antibiotics to treat birds, unlike producers in Europe who rely more on probiotics, Lagos poultry farmers have said.
The Punch · 2 months ago · 5 min read(opens The Punch in a new tab)
REA to launch renewable asset management company
The Rural Electrification Agency is set to launch the Renewable Asset Management Company on August 26, 2026, as part of efforts to promote long-term investment and sustainability in Nigeria’s renewable energy sector.
The Punch · 2 months ago · 3 min read(opens The Punch in a new tab)
FG won’t publish details of $5bn Abu Dhabi loan — Oyedele
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has rejected calls for the Federal Government to publish details of how it plans to spend funds drawn from its $5bn financing facility with First Abu Dhabi Bank.
The Punch · 2 months ago · 5 min read(opens The Punch in a new tab)
Experts seek reforms to unlock poultry industry’s potential
By Kafayat kokumo Experts have called for reforms, increased investment, innovation and stronger collaboration among stakeholders to unlock the full potential of Nigeria’s poultry industry, to enhance food security, job creation and economic growth. Speaking recently at the Poultry Association of…
Vanguard News · 2 months ago · 2 min read(opens Vanguard News in a new tab)
Lagos gets 360MW boost as FG upgrades four substations
By Obas Esiedesa & Mariam Eko The Federal Government (FG) has commissioned the upgraded transmission facilities in four major substations in Lagos, adding about 360 megawatts (MW) of transmission capacity to boost electricity supply across the state. The projects at Ijora, Apapa Road, Alausa and…
Vanguard News · 2 months ago · 2 min read(opens Vanguard News in a new tab)
NESG projects inflation to average 15.5% in H2’26
By Peter Egwuatu The Nigerian Economic Summit Group (NESG) has projected Nigeria’s inflation to remain elevated during the remainder of 2026, averaging 15.5 percent in the second half 2026, H2’26, and for the entire year. This projection is premised on persistent challenges including widespread…
Vanguard News · 2 months ago · 2 min read(opens Vanguard News in a new tab)
Dollar demand falls 35% as naira holds firm
Demand for foreign exchange by end-users in Nigeria fell by 35.23 per cent to $3.42bn in April 2026, easing pressure on the dollar market as the naira recorded modest gains.
The Punch · 2 months ago · 3 min read(opens The Punch in a new tab)
Bitget Wallet targets creators with global affiliate programme
Bitget Wallet, a self-custodial crypto wallet for everyday finance, has launched a global affiliate programme that provides earning opportunities for creators, community managers, and influencers across trading and payments verticals.
The Punch · 2 months ago · 3 min read(opens The Punch in a new tab)
IEA: LPG crisis threatens Africa’s clean cooking progress
The International Energy Agency has warned that the LPG crisis triggered by the disruption of the Strait of Hormuz is threatening Africa’s progress in clean cooking, with sharply higher prices putting the fuel beyond the reach of many households and potentially worsening exposure to deadly…
The Punch · 2 months ago · 4 min read(opens The Punch in a new tab)
Universal Insurance’s N7.1bn rescue deal collides with licence revocation
Universal Insurance Plc’s N7.128bn recapitalisation has been thrown into uncertainty after the National Insurance Commission revoked the insurer’s operating licence and appointed a receiver/provisional liquidator over its failure to meet the regulatory minimum capital requirement.
The Punch · 2 months ago · 3 min read(opens The Punch in a new tab)
Emzor raises N26.7bn bond to boost drug production
Emzor Pharma Funding SPV Plc has raised N26.70bn through a five-year fixed-rate bond listed on the FMDQ Exchange as the indigenous pharmaceutical company moves to expand its manufacturing capacity and strengthen local drug production.
The Punch · 2 months ago · 3 min read(opens The Punch in a new tab)
Onion producers resume exports to Ghana after talks
The National Onion Producers, Processors and Marketers Association of Nigeria has lifted its suspension on onion exports from Nigeria to Ghana with immediate effect, following renewed engagements aimed at resolving challenges affecting cross-border trade.
The Punch · 2 months ago · 3 min read(opens The Punch in a new tab)
Filmmakers urge govt to support AI in Nollywood
Nigerian filmmakers and stakeholders in the creative industry have called on the Federal Government to create an enabling environment for the adoption of emerging technologies in the film sector, following the completion of a Yoruba-language feature film produced substantially with artificial…
The Punch · 2 months ago · 4 min read(opens The Punch in a new tab)
Wage bill, other spending exceed subsidy savings — Oyedele
…Govt saved N15.8trn from subsidy removal, naira floatation …FG got only N5.43trn, borrowed N11.85trn …No large pool of cash available to FG By Emma Ujah, Abuja Bureau Chief ABUJA — The Federal Government has clarified that the N15.8 trillion saved from fuel subsidy removal and the flotation of the…
Vanguard News · 2 months ago · 3 min read(opens Vanguard News in a new tab)
FG spent N9.39tn on wage hike, allowances in 31 months — Oyedele
The Federal Government spent N9.39tn on minimum wage increases, salary adjustments and other allowances for public workers between June 2023 and December 2025, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said.
The Punch · 2 months ago · 3 min read(opens The Punch in a new tab)
