Dangote Sugar Refinery Plc profitability was weighed down by a foreign exchange loss of N46.7 billion and additional finance costs totaling N128.6 billion in financial year ended 2025. Dangote Sugar Chairman, Arnold Ekpe, told shareholders during the Company’s 20th Annual General Meeting held yesterday in Lagos. Arnold Ekpe said that the Group posted a turnover…
Olam Agri has opened a $50 million state-of-the-art soybean crushing plant and feed milling facility in Ilorin, Kwara State. Olam Agri also officially launched Mama’s Pride Soya Oil, a well-refined, heart-healthy cooking oil designed to meet the evolving nutritional needs of Nigerian households Anil Nair, country head and managing director, Olam Agri in Nigeria, said…
A court in Paris , yesterday, found Lafarge, now part of Holcim, guilty of charges that its Syrian subsidiary financed terrorism and breached EU sanctions to keep a cement plant operating in northern Syria during the country’s civil war. Global Cement.com reported that the case was the first time a company has been tried for…
Photo: Aliko Dangote Dangote Petroleum Refinery & Petrochemicals is hoping to raise up to $5 billion from investors across Africa through its initial public offering on the Nigerian Exchange Group (NGX) The share sale is expected to open as early as May, with analysts valuing the company between $40 billion and $50 billion, making it…
” 87 local manufacturers are currently benefiting from the federal government’s Pharmaceuticals industry incentives, while additional projects, including the production of active pharmaceutical ingredients and diagnostic manufacturing, are underway.” This was disclosed by the Minister of State for Health, Dr. Adekunle Salako, during the commissioning of an ultra-modern manufacturing facility by SAM Pharmaceuticals Limited at…
Women in Out-of-Home Advertising Network (WOHAN) forum ended with calls on the industry’s operators to shun outdated assumptions about women’s limitations in leadership, science, and politics and other local stereotypes that confine Nigerian women to domestic roles. Held recently in Lagos, the forum themed ‘Breaking the Myths’, highlighted a deliberate attempt at dismantling enduring myths…
The Federal Government had in a document dated April 1, 2026, by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, approved sweeping tariff adjustments across 127 product lines, including antimalarial medicaments now pegged at 20 per cent, as part of efforts to stimulate growth and ease the cost of critical…
UN Trade and Development UNCTAD says that Strait of Hormuz disruptions has started weakening developing country currencies. UNCTAD, in its monitoring of changes in exchange rates against the dollar since the start of the military escalation (28 Feb 2026) till March 26, also said that the closure of the shipping line have started weakening global…
UNIDO and WTO are mobilising USD5 billion in investment over a 10-year period, to establish modern textiles and garment industry across West and Central Africa. Ngozi Okonjo-Iweala, WTO Director-General, disclosed during the WTO 14th Ministerial Conference. “Today, around 98 percent of the region’s cotton is exported as raw fibre, although the region has the potential…
Aluminium prices climbed around six per cent in early trading on Monday after Iran attacked two major plants in the Gulf that produce the widely used metal, raising concerns over supply disruptions, according to AFP. Gains later reduced, though prices were still up 4.2 per cent at $3,435 per tonne on the London Metal Exchange….
