Samsung Electronics expects its quarterly operating profit to surge ninefold year-on-year, as booming demand for memory chips used in artificial intelligence (AI) data centres drives record earnings. The South Korean technology giant said it expects operating profit for the three months to September to reach 107.4 trillion won ($80 billion), marking its fourth consecutive quarter of record earnings. The forecast underscores the scale of the global AI boom, which has triggered a surge in demand for advanced semiconductors used to power data centres and AI applications. Samsung is one of the world’s largest memory-chip manufacturers, competing with South Korea’s SK…
Author: Elvis Eromosele
The Federal Government has introduced a 30-day discount on petrol sold by the Nigerian National Petroleum Company Limited (NNPC Limited), with public transport operators to receive priority under the arrangement. Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, announced the measure on Thursday, October 8, 2026, during a briefing on petrol prices and subsidy-related issues in Abuja. Oyedele said the arrangement does not amount to a fuel subsidy, explaining that the government would instead sell petrol through NNPC at cost for the 30-day period. “Government is taking further steps. Number one, margin discounts at NNPC stations. We…
J.P. Morgan is set to deepen its presence in Nigeria with plans to launch a merchant bank before the end of 2026, subject to regulatory approval. Dapo Olagunji, Managing Director of J.P. Morgan West Africa, disclosed the plan at the Nigeria–Asia Financial Connectivity Dialogue in Singapore, organised by the Central Bank of Nigeria (CBN) in partnership with J.P. Morgan, Nigerian Exchange Group (NGX) and FMDQ Group. The proposed merchant bank is expected to expand J.P. Morgan’s operations in Nigeria while strengthening its links with Nigerian businesses, investors and the country’s capital markets. Olagunji announced the planned launch while welcoming participants…
Nigeria’s equities market extended its losing streak on Thursday as aggressive profit-taking and broad-based sell-offs erased N1.33 trillion from investors’ wealth in a single trading session. The total market capitalisation of listed equities fell by 0.82 per cent to N161.05 trillion, from N162.39 trillion recorded at the close of trading on Wednesday. The decline continued the bearish trend that has characterised the market since the start of the week. The benchmark NGX All-Share Index (ASI) also dropped by 2,054.25 points, or 0.82 per cent, to close at 248,042.50 points. Trading activity remained relatively strong, with 492.14 million shares exchanged in…
Digital banking platform PalmPay has reaffirmed its commitment to reliable, secure and responsive customer service as it joins organisations around the world in marking this year’s Customer Service Week, themed “The Extra Mile.” The fintech said its approach to customer service goes beyond resolving complaints, focusing instead on anticipating customers’ needs, strengthening protection tools and ensuring users can access support when they need it. According to PalmPay, this philosophy is reflected in its “PalmPay Dey For You” initiative, which combines security awareness, proactive protection and tools designed to help customers manage their accounts with greater confidence. Head of Marketing, PalmPay,…
By Abdul Mahmud Reading Jesuyemi’s widely shared review of the three shortlisted books for the 2026 NLNG Prize earlier today left me genuinely disturbed, not only by the severity of the language of the reviewer, but by the sweeping manner in which he dismissed the works under consideration simply because they failed to rise to the prescriptive height he had set for them. There is a difference between rigorous criticism and imposing a private aesthetic standard upon bodies of works and then treating every departure from it as evidence of failure. The former opens a conversation about poetry; the latter…
The Lagos State Consumer Protection Agency (LASCOPA) has urged residents to speak up against consumer rights violations by promptly reporting fake, expired and adulterated products, misleading advertisements, poor services and other unfair business practices. The agency is encouraging consumers to “Tell it to LASCOPA” through its toll-free consumer helpline, 080 0005 2726, or via email at lasgcopa@gmail.com. Complaints can also be submitted through its social media platforms on Facebook, Instagram and X (formerly Twitter), all under the handle @lasgcopa. The General Manager/Chief Executive Officer of LASCOPA, Afolabi Solebo, Esq., said the toll-free line was introduced to provide consumers with a…
By Dr Elizabeth Ndubisi Eromosele The elders say that there are some things we only truly appreciate when we begin to lose them. Vision is one of them. Every morning, we open our eyes and enter a world we rarely stop to think about. We read messages, recognise faces, drive, work, study, cook, trade, use our phones and navigate our surroundings. We depend on our eyes for much of what we do, yet eye health is often one of the last things we consider when thinking about preventive healthcare. World Sight Day 2026, marked on October 8, offers an opportunity…
Leadway Group has commenced the second edition of Leadway Cares Week, its flagship annual corporate social responsibility (CSR) and community engagement initiative, with an expanded focus on healthcare, environmental sustainability, employee volunteering and community partnerships. The 2026 edition builds on the inaugural programme, which brought Leadway employees and community members together through blood donation drives, environmental sanitation, market clean-ups, food and incentive donations, free eye screening and medical interventions. This year’s programme extends those interventions to more communities across Nigeria while also strengthening the Group’s engagement beyond the country. Activities include environmental sanitation, community clean-ups, tree planting and blood donation…
The Lagos State Development and Property Corporation (LSDPC) has launched a digital payment platform, PayPortal, allowing customers to make property-related payments online around the clock and receive instant confirmation of successful transactions. The platform is part of the corporation’s efforts to modernise its operations, improve customer experience and respond to growing demand for faster and more accessible digital services. Ayodeji Joseph, Managing Director/Chief Executive Officer of LSDPC, said the initiative was driven by changing customer expectations and the increasing adoption of digital technology. “This is an evolution and adapting to changing needs of our old and prospective clients’ expectations. We…