The Nigerian Maritime Administration and Safety Agency (NIMASA) has sealed off two petroleum storage terminals—ShellPlux and TMDK—located in the Ijegun-Egba area of Lagos, citing persistent violations of the International Ship and Port Facility Security (ISPS) Code. According to a notice issued on Thursday by the agency’s Head of […]
Category: Industry
Industry
Plural Health Emerges to Tackle Africa’s Fragmented Healthcare Systems
As African countries push for universal health coverage, a persistent challenge continues to undermine progress: fragmentation. From disconnected hospital systems to slow insurance processing and inaccessible patient records, the lack of coordinated digital infrastructure remains a major barrier to effective healthcare delivery on the continent. Plural Health, a Nigerian health […]
Notore Chemical Completes Plans To Delist From NGX
Notore Chemical Industries Plc has officially concluded arrangements to delist its shares from the Nigerian Exchange Limited (NGX), following the implementation of a court-approved Scheme of Arrangement involving the company and its minority shareholders. In a notice issued to the NGX and made available to the investing public […]
PZ Cussons Exits Palm Oil JV as Wilmar Buys 50% Stake for $70m
PZ Cussons plc and Wilmar International Limited jointly announce Wednesday (Today) that the two parties have agreed definitive terms for Wilmar to purchase the 50 per cent equity stake in PZ Wilmar Limited held by PZ Cussons plc, for cash consideration of $70m. According the transactional document, completion of […]
FG, Nestlé Nigeria Partners To Launch Dairy Technical Skills Development Program
Nestlé has said that it is in collaboration with the Federal Ministry of Livestock Development to launch a Dairy Technical Skills Development Program. This initiative, formalized through a Letter of Intent (LOI) signed today in commemoration of World Milk Day 2025, aims to enhance the quality and […]
MAN Urges CBN Action Over Banks’ Forex Forward Disputes
The Manufacturers Association of Nigeria (MAN) has called on the Central Bank of Nigeria (CBN) to urgently intervene in what it describes as unjust treatment of its members by certain commercial banks over unresolved foreign exchange (forex) forward obligations. The Association alleged that some banks have taken punitive […]
LCCI Advocates Forward-guided, Data-Driven Approach To Monetary Easing
The Lagos Chamber of Commerce and Industry (LCCI) has urged the Central Bank of Nigeria (CBN) to pursue a forward-guided, data-driven approach to monetary easing, warning that a premature reduction in interest rates could destabilize investor confidence and threaten macroeconomic recovery. The Chamber’s reaction followed the Central […]
Cascador Partners Sterling Bank On $2m SME Lending In Nigeria
Cascador has announced a partnership with Sterling Bank to launch new debt funding model to unlock growth for Africa’s most promising ventures. According to a statement from the company, backed by a $2m Catalytic Fund, the partnership introduces flexible, founder-friendly financing for Cascador alumni; pairing low-interest debt […]
BUA Foods’ Sugar Share Falls to 48% Amid Rising Food Inflation
BUA Foods Plc reported a 24 per cent year-on-year revenue growth to ₦442.1bn in Q1 2025, but its Sugar division—traditionally its largest revenue contributor—saw its share fall to 48 per cent, down from 67 per cent in the same period last year. The decline was driven by a significant drop […]
Onyema Urges Collaboration For Stronger Aviation Security Framework
Chairman of Air Peace Airline, Dr. Allen Onyema, has called for enhanced collaboration across all stakeholders in Nigeria’s aviation sector to build a more robust and adaptive aviation security framework amid growing global threats. Speaking at a symposium organized by the Nigeria Civil Aviation Authority (NCAA) on the […]