Sterling Financial Holdings Company Plc (Sterling HoldCo) has sustained its strong growth trajectory, recording a 99 per cent year-on-year increase in profit before tax (PBT) to ₦90.7 billion for the year ended December 31, 2025, according to its unaudited results. The performance builds on the Group’s 102 per cent profit growth in 2024, reinforcing its position as one of the fastest-growing financial services groups in the region. Gross earnings rose 46 per cent to ₦476.5 billion, driven by robust growth in both interest and non-interest income. Interest income climbed 43 per cent to ₦369.6 billion, supported by higher customer lending and improved…
Author: Elvis Eromosele
The Rule of Law and Accountability Advocacy Centre (RULAAC) has called for stronger collaboration between the Nigeria Police and the media as a critical step toward rebuilding public trust and improving policing outcomes nationwide. Speaking at a one-day Police and Media Dialogue Session in Enugu, Okechukwu Nwanguma, RULAAC’s Executive Director said effective policing in a democracy depends on public confidence, which remains fragile due to years of corruption, brutality, weak accountability, and poor service delivery. Nwanguma noted that public perception of the police is largely shaped by personal encounters and media coverage, making journalists key partners in police reform. He…
The Christian Blind Mission (CBM) has committed €15 million (about N25 billion) to improve eye care services in 14 Nigerian states, targeting preventable blindness and visual impairment. The announcement was made by Dr. Rainer Brockhaus, CBM CEO, during the launch of the SightQuest Nigeria Programme in Abuja, themed “A Journey Towards Inclusive Eye Health.” The initiative will run from 2026 to 2035, focusing on cataract surgeries, refractive error services, and expanded access for vulnerable communities. Dr. Brockhaus highlighted that avoidable blindness and refractive errors affect millions of Nigerians, and the programme aims to deliver measurable outcomes, including a 30 per…
The Edo State Government and NNPC Limited have announced plans to jointly develop a 10,000 barrels-per-day (bpd) condensate refinery, with completion expected within 24–36 months. A statement from the Edo State Government, issued in Benin City by Dr. Patrick Ebojele, Chief Press Secretary to Governor Monday Okpebholo, revealed that the refinery will be located across Oredo and Orhionmwon Local Government Areas. The project is designed to boost local refining capacity, improve fuel supply, and strengthen Edo’s industrial base. Governor Okpebholo said the refinery will play a critical role in job creation, poverty reduction, and energy security, aligning with the Federal…
Dangote Petroleum Refinery has cautioned that continued reliance on coastal shipping to distribute petrol could push pump prices to N1,000 per litre if the additional costs are passed to consumers. In a statement on Thursday, the refinery highlighted that transporting petroleum products by sea is significantly more expensive than pipelines or truck loading from its facilities. These costs include port charges, maritime levies, and vessel-related expenses, which add roughly N75 per litre to petrol prices. “Nigeria consumes about 50 million litres of petrol and 14 million litres of diesel daily. Coastal logistics could impose an additional annual cost of about…
President Bola Tinubu on Thursday launched Nigeria’s National Halal Economy Strategy, a policy aimed at positioning the country to tap into the $7.7 trillion global halal market and fast-track economic diversification. The strategy was unveiled at the Presidential Villa in Abuja by Vice President Kashim Shettima, who represented the President, according to a statement from the Presidency. Government projections show the initiative could add about $1.5 billion to Nigeria’s GDP by 2027, driven by increased exports, job creation, and stronger participation in global halal value chains. Speaking at the event, Shettima said the launch signals Nigeria’s readiness to compete in…
MTN Group, Africa’s largest mobile network operator, is in advanced discussions to acquire the remaining 75 per cent stake in IHS Holding Limited, a move that would give the telecom giant full ownership of one of the world’s largest independent tower companies. In a cautionary notice to investors released on Thursday, MTN confirmed it is evaluating a potential buyout of minority shareholders in New York Stock Exchange–listed IHS, following growing market speculation. MTN said any potential offer would likely be priced close to IHS’s last trading price on February 4, 2025, noting that the company’s shares have rallied strongly…
Google has opened applications for the 10th cohort of the Google for Startups Accelerator Africa, reinforcing its push to support Africa-based startups building AI-driven solutions. In a statement released on Thursday, the tech giant said applications will remain open until March 18, 2026. The 12-week accelerator programme is a hybrid, AI-first initiative targeted at Series A startups that are either headquartered in Africa or developing products focused on the African market using artificial intelligence and machine learning. According to Google, startups selected for the cohort will gain access to its AI expertise and technical infrastructure, mentorship from experienced AI…
The Lagos State Government has approved over ₦140 billion for social protection programmes, reinforcing its commitment to inclusive growth and ensuring that vulnerable residents are not left behind in the state’s development journey. Mrs. Olayinka Ojo, Permanent Secretary, Ministry of Economic Planning and Budget, disclosed this at the Lagos State Social Protection Partners Forum, describing the allocation as a strong signal of the government’s dedication to shared prosperity. According to her, Governor Babajide Sanwo-Olu’s administration is driving an extensive social agenda through more than 20 social-focused Ministries, Departments and Agencies (MDAs) and over 90 targeted social interventions across the…
Investor appetite for Nigerian Treasury Bills surged on February 4, 2026, as total subscriptions at the Central Bank of Nigeria’s (CBN) Primary Market Auction (PMA) soared to ₦4.59 trillion, nearly four times the ₦1.15 trillion on offer. The auction marked the highest subscription level since December 2024, underscoring investors’ determination to lock in elevated yields amid tightening liquidity conditions and expectations of future rate adjustments. Ayodeji Ebo, Managing Director of Optimus by Afrinvest, said the strong demand reflects investors’ preference for securing yields above 20 per cent while they remain available. “This level of subscription shows disciplined liquidity management…