Author: Ifetayo Adeniyi

Elegbede Abiodun Dangote Petroleum Refinery & Petrochemicals has recorded a major milestone in Nigeria’s energy history, exporting 44,000 barrels per day (b/d) of gasoline in March 2026, an achievement that has positioned Nigeria as a net exporter of petrol for the first time ever, with a surplus of approximately 3,000 b/d during the month. The landmark performance marks a decisive turnaround for Africa’s largest oil-producing nation, which for decades relied heavily on imported refined petroleum products. Industry experts say the surge in exports, driven by rising output from the Dangote Refinery, is expected to deliver substantial foreign exchange inflows, easing…

Elegbede Abiodun Access Bank Plc has been named Nigeria’s Most Valuable Brand for the fifth consecutive year by Brand Finance, reinforcing its leadership position in the country’s financial services sector. Brand Finance announced this in its Nigeria 25 2026 report, which ranks the country’s strongest brands based on brand value, brand strength, and underlying business performance. According to the report, Access Bank’s brand value stands at ₦773.2 billion, maintaining its numberone ranking despite shortterm macroeconomic and market pressures. It attributed the marginal yearonyear decline in brand value to a deliberate strategic shift, as the Bank continues to prioritise longterm growth,…

Elegbede Abiodun The meeting served as a cohesive point to preserve the unity of the party.  The All Progressives Congress (APC) Ogun State has adopted the senator representing Ogun West, Solomon Adeola, popularly called Yayi, as its governorship candidate for the 2027 election on Monday.  The decision to field the lawmaker as the party’s governorship flag bearer was announced at the state strategic caucus meeting presided over by the state chairman of the party, Chief Yemi Sanusi and held at the party secretariat, Abeokuta. The meeting had in attendance Gov Dapo Abiodun, former governors; Chief Olusegun Osoba, Sen Ibikunle Amosun…

Manny Ita  – Italian luxury fashion house Dolce & Gabbana has appointed former Gucci executive Stefano Cantino as Co-Chief Executive Officer, marking a leadership restructuring within the company. The company announced on Monday that Cantino will serve alongside current CEO and Chairman Alfonso Dolce. The move is intended to strengthen the brand’s management structure as it transitions toward a broader lifestyle business model. The appointment follows recent changes in the company’s leadership, including the resignation of co-founder Stefano Gabbana as chairman in December, although he continues to oversee the brand’s creative direction. Cantino previously held senior roles at Gucci and…

Manny Ita  – AfriStakes, a newly launched capital platform, has officially entered the Nigerian market with the goal of connecting African SMEs to a wider pool of investors and improving access to funding across the continent. The platform was created to address a long-standing challenge in Africa’s business environment: many SMEs struggle to raise capital not because opportunities are lacking, but because of weak structure, poor investor readiness, and difficulty matching with suitable investors. At the same time, large amounts of capital remain underutilised or concentrated in traditional assets like fixed deposits and public equities. AfriStakes positions itself as a…

Manny Ita  – Fitch Ratings has projected that Nigeria’s external reserves will decline to about $47 billion by the end of 2026, even as the country continues economic and monetary reforms aimed at stabilising its foreign exchange market. In its latest outlook, Fitch affirmed Nigeria’s Long-Term Foreign Currency Issuer Default Rating (IDR) at ‘B’ with a Stable Outlook, citing the country’s large economy, improving monetary policy framework, and relatively liquid domestic debt market as supporting factors. Despite recent gains in reserves, Fitch expects some pressure ahead due to rising external obligations and fiscal demands. The agency noted that gross reserves…

Manny Ita  – Segun Agbaje, CEO of Guaranty Trust Holding Company (GTCO), has disclosed the group’s three most profitable non-banking subsidiaries in 2025 during its FY 2025 investor call. According to him, the top-performing non-banking businesses were fintech, asset management, and pensions, which have become key contributors to GTCO’s earnings beyond traditional banking operations. Within these segments, GTCO’s fintech arm, HabariPay, led with a profit of about N9.7 billion, followed closely by Guaranty Trust Fund Managers (asset management) with roughly N9 billion. Guaranty Trust Pension Managers contributed about N4.7 billion. Agbaje noted that the strong performance of these subsidiaries reflects…

Manny Ita – US President Donald Trump has publicly criticised Pope Leo XIV in a series of posts on Truth Social, describing him as “weak” on crime and “terrible” on foreign policy. The remarks were part of a late-night online statement that also included an AI-generated image of himself depicted in a religious scene. According to the posts, Trump also responded to recent comments made by Pope Leo XIV regarding global conflicts, particularly tensions involving Iran and the United States. The Pope had previously described rhetoric suggesting the “destruction of civilisation” as unacceptable and called for dialogue and peace. In…

Manny Ita  – Used car importers in Nigeria have said the newly introduced Vehicle Conformity Assessment Programme (VehCAP) is unlikely to significantly increase car prices, despite tighter inspection and certification requirements. VehCAP is a regulatory framework introduced by the Standards Organisation of Nigeria (SON) and the National Automotive Design and Development Council (NADDC). It is designed to ensure that all imported vehicles and auto parts meet safety and quality standards before entering the country. The policy, which operates under the slogan “No Certification, No Entry,” requires vehicles to undergo pre-shipment inspection and certification in their country of origin before being…

Manny Ita  – Nigeria is expected to sign a $25 billion intergovernmental agreement with Morocco before the end of the year for the development of a major trans-African gas pipeline project. The disclosure was made by Amina Benkhadra, head of Morocco’s hydrocarbons and mining agency, who confirmed that the African Atlantic Gas Pipeline will span approximately 6,900 kilometres across both offshore and onshore routes. The pipeline is projected to transport up to 30 billion cubic metres of gas annually, with about 15 billion cubic metres allocated to Morocco and exports to Europe. The project is expected to enhance economic integration…