Category: Business

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Dangote Seals US$4.2bn Gas Deal with China’s GCL Group to Power Its Ethiopian Fertilizer Megaproject

Dangote Industries Limited (DIL) and GCL Group, China’s leading private energy conglomerate, have formalized a landmark US$4.2 billion, 25‑year natural gas supply agreement to power Dangote Group’s major expansion projects in Ethiopia. The agreement, signed in Lagos, reinforces one of the most significant China–Africa industrial partnerships to date. Under the long‑term arrangement, GCL Group will…

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Recapitalisation without Transformation is a Risk Nigeria Cannot Afford

BY BLAISE UDUNZE In barely two weeks, Nigeria’s banking sector will once again be at a historic turning point. As the deadline for the latest recapitalisation exercise approaches on March 31, 2026 with no fewer than 31 banks having met the new capital rule, leaving out two that are reportedly awaiting verification. As exercise progresses and draws…

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GTCO Plc Releases 2025 Half-Year Audited Results… Sustains Strong Performance on Core Earning Lines Growth

Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Audited Consolidated and Separate Financial Statements for the period ended June 30, 2025, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). The Group recorded profit before tax of ₦600.9billion on the back of strong performance on core earning lines of…

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Stanbic IBTC Bank Announces Launch of APPbility

In a milestone move for digital banking, Stanbic IBTC Holdings PLC (“Stanbic IBTC”), an end-to-end financial institution in Nigeria, is set to revolutionize digital financial transactions through the launch of its enhanced mobile app 3.0 tagged ‘APPbility’. This platform aims to transform the digital financial landscape across Nigeria. APPbility builds upon the foundation set by…

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Unity Bank Empowers Young Entrepreneurs With ₦16M Business Grant

No fewer than 30 young entrepreneurs have been awarded a ₦16 million business grant by Unity Bank Plc during the latest edition of its flagship entrepreneurship development initiative, the Corpreneurship Challenge. The winners, budding entrepreneurs developing innovative solutions across various business value chains including fashion design, bag making, pastry making, event management, beauty, vegetable farming,…

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Stanbic IBTC Bank Nigeria PMI: Output Growth Slows But Business Confidence Rises Sharply

The Nigerian private sector remained in growth territory as the first half of 2025 drew to a close, and business confidence improved markedly in June. That said, rates of expansion in output, new orders and purchasing eased from May. Although rates of inflation remained relatively sharp, there were further signs of cost pressures softening and…

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2025 AGM: Stanbic IBTC Holdings Engages Shareholders on Strategic Vision and Performance

Stanbic IBTC Holdings PLC, a member of the Standard Bank Group, recently held its 13th Annual General Meeting (AGM), where it presented its audited financial statements for the year ended 31 December 2024. The AGM highlighted a year marked by strong financial growth, operational resilience, and continued execution of the Group’s long-term strategic priorities. According…

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Dangote Sugar Grows Turnover By 51%, to Provide 75,000 Jobs

The Chairman of Dangote Sugar Refinery Plc, Aliko Dangote has revealed that the company’s turnover increased by 51 per cent to N665.6 billion for the year ended December 31, 2024, as against the corresponding figure of N441.5 billion recorded for the 2023 financial year. Speaking at the 19th Annual General Meeting (AGM) on Tuesday, Mss Bennedikter…

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GTCO Sustains Profitability Momentum With Growth In Core Income – Declares A PBT of N300.4billion in Q1 2025

Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Unaudited Consolidated and Separate Financial Statements for the period ended March 31, 2025, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). The Group reported profit before tax of ₦300.4billion on the back of strong performance posted on the core earnings…

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Stanbic IBTC Bank Reintroduces Its Private Banking Offerings To Empower Nigerians Build Lasting Wealth

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings and a leading financial service solutions provider in Nigeria, has reaffirmed its commitment to helping Nigerians secure their financial futures and build lasting legacies through its Private Banking offerings. With a focus on personalised financial solutions, portfolio management, investment strategies, and estate management, Stanbic IBTC Bank…

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