Rand Merchant Bank (RMB), a subsidiary of the FirstRand Group, has facilitated the acquisition of Axxela Limited by BlueCore InfraCo Limited in a landmark transaction valued at about $510 million, one of the largest private energy infrastructure deals in Nigeria in recent years. The acquisition was financed through a mix of debt and equity, with RMB arranging $285 million in debt financing. In the transaction, RMB acted as Global Debt Coordinator, Mandated Lead Arranger, Underwriter, and Bookrunner for the debt component. Describing the deal as a major milestone, Chidi Iwuchukwu, Head of Investment Banking, Africa at RMB, said the transaction…
Author: Elvis Eromosele
Nigeria booked a high-stakes semi-final showdown with hosts Morocco after a convincing 2–0 victory over Algeria in their Africa Cup of Nations quarter-final clash in Marrakech on Saturday. Goals from Victor Osimhen and Akor Adams early in the second half sealed the Super Eagles’ passage into the last four, as Nigeria produced a composed and dominant display to knock out the two-time African champions. After a goalless first half in which Nigeria controlled possession and territory, the breakthrough came just 85 seconds after the restart. Osimhen rose unmarked inside the box to head home a deep cross from Bruno Onyemaechi,…
…rediscovering Ndubisi Kanu Park, Ikeja By Elvis Eromosele What began as a simple errand in Ikeja quietly turned into an unexpected pause for rest and reflection. While waiting, a thought crossed my mind: why not make a quick dash to JJT Park in Alausa? I got there, looked around, and on impulse decided to try Ndubisi Kanu Park instead. It turned out to be a great choice. Entry is orderly. You need your tax number to purchase a ticket, ₦1,000 per person. A tag is issued at the gate; ours was yellow. From that moment, the experience felt intentional and…
The Federal Government has unveiled a new policy framework aimed at reducing the cost of education for parents while improving learning outcomes and promoting sustainability in schools across the country. The policy, jointly issued by Dr. Tunji Alausa, Minister of Education, and Prof. Suwaiba Ahmed, Minister of State for Education, was released to journalists in Abuja on Friday amid growing concerns over rising education expenses, frequent textbook changes, and declining learning outcomes in primary and secondary schools. According to the ministers, the framework is part of ongoing reforms to reposition Nigeria’s education sector and ease the financial burden on families.…
MTN Nigeria Communications Plc has disclosed fresh insider share purchases by senior executives, as its stock continues to trade above the N500 mark on the Nigerian Exchange. In a regulatory filing, the company announced that Mr. Olugbenga Ojeranti, its Senior Manager, Financial Operations, acquired 81,327 shares valued at about N40.9 million. The shares were purchased at an average price of N504 per unit. The transaction forms part of a series of executive share acquisitions reported by MTN Nigeria following the release of its financial results in late October 2025. Combined with the company’s improving earnings, the purchases appear to have…
The Federal Government has earmarked a N367.9 billion multilateral and bilateral loan for the ongoing construction and dualisation of the Lafia Road and the 9th Mile (Enugu)–Otukpo–Makurdi corridor in the proposed 2026 budget of N58.47 trillion. Details contained in the 2026 Appropriation Bill show that the loan-backed project is one of the largest allocations under the Ministry of Works and forms part of the government’s strategy to fast-track long-standing federal road projects through a combination of budgetary funding and external financing. According to the document, the Ministry of Works was allocated N3.49 trillion for the 2026 fiscal year, with N3.44…
The Federal Ministry of Finance and the Niger State Government have signed a Memorandum of Understanding (MoU) for a large-scale Mass Housing and Agricultural Settlement Project covering 100,000 hectares of land in Niger State. The agreement was signed on Friday at the Ministry of Finance headquarters in Abuja and will be implemented by the Ministry of Finance Incorporated (MOFI) in partnership with the Niger State Government, under the supervision of the Federal Ministry of Finance. Speaking at the ceremony, Dr. Doris Uzoka-Anite, Minister of State for Finance, described the initiative as a practical example of cooperative federalism aligned with President…
Vehicle owners in Lagos State can now replace faded or unreadable number plates at a reduced cost, following the launch of a three-month rebate scheme by the Lagos State Government (LASG). The initiative, unveiled through the Motor Vehicles Administration Agency (MVAA), is aimed at improving road safety, strengthening security, and enhancing vehicle identification across the state. Speaking on the programme, Mr. Rasheed Muri-Okunola, Permanent Secretary of the MVAA, described the rebate as a proactive and citizen-friendly intervention designed to encourage compliance without resorting to sanctions. According to him, clear and legible number plates are essential for effective traffic management, crime…
Nestlé Nigeria has reassured consumers that all infant formula products sold in the country are safe and not affected by the voluntary and precautionary recall announced in some other countries. In a statement made available to TheNumbersNG.com on Friday, the company clarified that the recall involves only specific batches of Nestlé Infant Formula sold outside Nigeria, and does not include any products manufactured, imported, or distributed by Nestlé Nigeria. According to the company, all infant formula products sold locally are officially registered with the National Agency for Food and Drug Administration and Control (NAFDAC) and meet Nigeria’s regulatory and safety…
In line with the consumer-focused objectives of the Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN), the two regulators have drawn up a framework to address consumer complaints arising from unsuccessful airtime and data transactions during network downtimes, system glitches, or human input errors. The framework is the outcome of several months of engagements involving the NCC, the CBN, Mobile Network Operators (MNOs), Value Added Service (VAS) providers, Deposit Money Banks (DMBs), and other relevant stakeholders. These engagements were prompted by a rising incidence of failed airtime and data purchases, where subscribers were debited without receiving value…