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…
Author: Elvis Eromosele
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…
The voting process for the fifth edition of the Consumers Value Awards (CVA) has officially closed, marking the end of another significant chapter in Nigeria’s foremost consumer-driven platform for recognising brands and public institutions that consistently deliver value. Speaking on the conclusion of the nationwide voting exercise, Akonte Ekine, Convener of the Consumers Value Awards, described the response from consumers as another strong affirmation of the growing importance of consumer participation in shaping brand excellence. “Every vote represents a consumer’s experience, confidence and expectation. The conclusion of voting is not the end of the process; it is the beginning of…
…Asset-backed lending can unlock capital for entrepreneurs as traditional bank credit tightens Eziefula Ezichi, Founder and Chief Executive Officer of Pawn NG, has called for wider adoption of alternative financing models, arguing that asset-backed lending can help bridge Africa’s growing credit gap and improve access to capital for entrepreneurs and investors. Ezichi made the call as the alternative finance company announced plans to expand its operations across West Africa amid tighter lending conditions and rising borrowing costs in the conventional banking sector. Founded nearly a decade ago, Pawn NG provides short-term loans secured by high-value assets such as luxury watches…
President Bola Ahmed Tinubu has commissioned Africa’s first renewable energy college and a Green Hydrogen Research and Demonstration Pilot Plant in Kogi State, marking a major step in Nigeria’s drive to build the skilled workforce needed for its clean energy transition. The facilities, the Barefoot Renewable Energy College, Osara (BARECKS) and the Green Hydrogen Research and Demonstration Pilot Plant, were inaugurated on Tuesday at the Confluence University of Science and Technology (CUSTECH), Osara, by Vice President Kashim Shettima, who represented the President. President Tinubu described the college as a landmark institution that will equip Nigerians with the technical skills required…
The Rural Electrification Agency (REA) has launched a new initiative to promote local manufacturing of solar panels and battery storage systems as part of efforts to reduce Nigeria’s dependence on imported renewable energy equipment and expand access to electricity. The move comes as more than 85 million Nigerians, about 40 per cent of the population, still lack reliable access to grid electricity. The initiative was unveiled in Abuja during the signing of a Joint Development Agreement between the REA and Ecotech Development Nigeria Limited. The partnership will establish a solar panel and battery assembly and manufacturing facility in Nigeria, supporting…
President Bola Tinubu has approved a new salary structure for members of the Nigerian Armed Forces, with pay increases ranging from 30 per cent to 80 per cent, in a move aimed at improving troop welfare and strengthening national security. The revised salary package, which takes effect from September 1, 2026, will benefit about 250,000 military personnel, with junior ranks receiving the largest increases. The approval was announced in a statement issued on Tuesday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga. Under the new pay structure, soldiers from the rank of Private to Staff Sergeant will…