BUSINESS

  • Eight Consumer Goods Firms Record N70.1bn in Royalties, Technical Fees in H1 2026

    Eight Consumer Goods Firms Record N70.1bn in Royalties, Technical Fees in H1 20260

    Eight listed Nigerian consumer goods companies recorded a combined N70.1 billion in royalties, technical fees, licence fees and management charges in the first half of 2026, according to disclosures contained in their financial statements. The fees represent payments made for access to global brands, production technology, technical expertise, trademarks, management services and other forms of

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  • Nigeria’s Pension Assets Hit Record N31.8 Trillion in August 2026

    Nigeria’s Pension Assets Hit Record N31.8 Trillion in August 20260

    Nigeria’s pension fund assets rose by N3.8 trillion in the first eight months of 2026, increasing from N28.04 trillion in January to a record N31.8 trillion as of August 31, 2026. The latest data from the National Pension Commission (PenCom) showed that the industry’s assets under management increased by 13.41% year-to-date, despite the prevailing economic

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  • New Telecom Company Secures NCC Licence To Rival MTN, Airtel, Glo

    New Telecom Company Secures NCC Licence To Rival MTN, Airtel, Glo0

    A new telecommunications company, Swift Telephone Network (STN), has secured a licence from the Nigerian Communications Commission (NCC), paving the way for its entry into Nigeria’s telecommunications market. STN is expected to join the growing list of operators providing telecommunications services in the country, potentially increasing competition among established brands such as MTN Nigeria, Airtel

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  • Nigeria Installs 707,765 Electricity Meters In First Half Of 2026

    Nigeria Installs 707,765 Electricity Meters In First Half Of 20260

    The Federal Government installed 707,765 electricity meters across Nigeria in the first half of 2026, representing a 71% increase compared with the 412,792 meters installed during the corresponding period of 2025. The figures are contained in quarterly data released by the Nigerian Electricity Regulatory Commission (NERC), showing that 357,495 meters were installed in the first

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  • FG’s Electricity Subsidy Drops by N37bn To N321bn in Second Quarter

    FG’s Electricity Subsidy Drops by N37bn To N321bn in Second Quarter0

    The Federal Government’s electricity subsidy obligation fell by N37.06 billion to N321.26 billion in the second quarter of 2026, according to the latest report by the Nigerian Electricity Regulatory Commission (NERC). The figure represents a 10.34% decline from the N358.32 billion subsidy obligation recorded in the first quarter of the year. Tony Elumelu Raises Seplat

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  • Tony Elumelu Raises Seplat Energy Stake To 21.07% After Buying 6 Million Shares

    Tony Elumelu Raises Seplat Energy Stake To 21.07% After Buying 6 Million Shares0

    Nigerian businessman Tony Elumelu has increased his stake in Seplat Energy Plc after Heirs Energies Limited, a company controlled by him, acquired an additional 6 million ordinary shares in the energy company. The transaction, disclosed in a corporate filing published on the Nigerian Exchange (NGX) website, increased the combined shareholding of Heirs Energies Limited and

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