Nigerian businesses and households expect inflationary pressures to ease over the next six months, but rising energy costs remain the biggest source of concern, according to the Central Bank of Nigeria’s (CBN) July 2026 Inflation Expectation Survey. The survey found that although respondents anticipate a gradual decline in inflation-related spending, the cost of petrol, diesel and electricity continues to shape perceptions of rising prices more than any other factor. According to the report, energy costs ranked as the most significant driver of inflation perceptions among both businesses and households. Businesses assigned energy costs a score of 74.1 points, while households…
Author: Elvis Eromosele
President Bola Ahmed Tinubu has signalled plans to list the Nigerian National Petroleum Company (NNPC) Limited on the Nigerian Exchange (NGX), a move that would allow Nigerians and other investors to own shares in the state-owned energy company. The President disclosed this on Thursday while receiving the board and management of the Nigerian Exchange Group (NGX Group) at the State House in Abuja, reaffirming his administration’s commitment to using the capital market to drive investment, expand public ownership and support economic growth. Tinubu said the NNPC would first undergo further reforms before being listed as a publicly traded company. Drawing…
The Nigerian Communications Commission (NCC) has reaffirmed its support for Nigeria’s digital economy agenda through initiatives that expand digital opportunities, strengthen human capital and ensure that no community is left behind in Nigeria’s digital economy as it formalised a 15-year operational lease of the NCC Digital Industrial Park and NCC Learning Centre in Enugu to the Enugu State Government. Dr. Aminu Maida, Executive Vice Chairman and Chief Executive Officer of the NCC, announced the partnership at the handover ceremony in Enugu, describing the facilities as platforms designed to develop the people, ideas and enterprises that will power Nigeria’s digital future.…
Nestlé Nigeria Plc has opened applications for its 2026/2027 Community Scholarship Programme, continuing its commitment to supporting young people in its host communities and helping students achieve their academic goals. Since its launch in 2020, the programme has supported more than 250 students, helping to reduce the financial challenges associated with education and creating opportunities for young Nigerians to succeed. The scholarship programme is designed specifically for Science and Technology students and provides financial support for tuition, books, and other school-related costs. Through this initiative, Nestlé aims to support young people in developing the skills and knowledge needed to contribute…
Beta Glass Plc delivered a strong second-quarter performance in 2026, reporting a 13.8 per cent increase in revenue as sustained customer demand and export sales helped offset a challenging operating environment. The West and Central African glass container manufacturer recorded Q2 revenue of N42.18 billion, up from N37.07 billion in the corresponding period of 2025. The performance lifted first-half revenue to N79.71 billion, representing a 1.9 per cent increase over the N78.23 billion posted in the first half of last year. The company announced the results in its unaudited financial statements for the six months ended June 30, 2026, released…
Nigerians spent an estimated N1.41 trillion on beer, malt and spirits during the first half of 2026, underscoring the resilience of the country’s formal brewing industry despite changing consumer preferences and persistent economic pressures. The figure is based on the half-year financial results of Nigerian Breweries Plc, International Breweries Plc and Guinness Nigeria Plc, which together account for about 90 per cent of Nigeria’s formal beer market. Although younger consumers are increasingly turning to spirits, wine, ready-to-drink beverages and non-alcoholic drinks, the country’s leading brewers continued to post strong revenues, driven by price increases, product diversification and sustained investment in…
The West African Examinations Council (WAEC) has officially released the results of the 2026 West African Senior School Certificate Examination (WASSCE), enabling candidates to access their performance online. Announcing the release on Wednesday, Dr. Amos Dangut, Head of WAEC’s Nigeria National Office, disclosed that the council withheld the results of 167,486 candidates, representing 8.59 per cent of those who sat the computer-based examination, over alleged examination malpractice. The figure marks an improvement from the 9.7 per cent recorded in 2025. According to WAEC, the withheld results stem from various infractions, including the use of mobile phones in examination halls and…
…Landmark deal takes Electronic Arts private as investors weigh debt burden and creative independence A Saudi Arabia-led investment group has completed its $55 billion (£41 billion) acquisition of Electronic Arts (EA), taking one of the world’s largest video game publishers private in what is being described as one of the biggest buyouts in corporate history. The consortium is led by Saudi Arabia’s Public Investment Fund (PIF) and includes Affinity Partners, the investment firm headed by Jared Kushner, son-in-law of U.S. President Donald Trump. The transaction removes EA from the stock market, with all publicly traded shares acquired by the investor…
…Elon Musk says investors underestimate the company as Starlink powers growth despite soaring spending SpaceX has reported its first quarterly results as a publicly traded company, posting a sharp rise in revenue but also revealing massive investment costs that pushed the company deeper into the red. The Elon Musk-led aerospace and technology company said revenue surged 92 per cent year-on-year to $7.8 billion in the second quarter. However, spending climbed by more than 550 per cent to $18.3 billion, contributing to a net loss of $2 billion during the first half of 2026. Investors reacted cautiously to the results, sending…
Nigeria and the United States have agreed to strengthen cooperation in the solid minerals sector, with a renewed focus on attracting American investment, advancing local mineral processing and building resilient critical minerals supply chains. The agreement was reached during a high-level bilateral meeting at the White House between a Nigerian delegation led by Dr. Dele Alake, Minister of Solid Minerals Development, and senior U.S. officials. The Nigerian delegation, which included executives of the Nigeria Solid Minerals Company (NSMC), met with David Copley, Special Assistant to the U.S. President and Senior Director for Global Supply Chain at the U.S. National Security…