Yemisi Izuora Reinforcing its commitment to deepening access to long-term capital for Nigeria’s microfinance sector, FMDQ Securities Exchange Limited, has approved the listing of LAPO MFB SPV PLC’s ₦4.46 billion Series 1 5-Year 20.00 per share Fixed Rate Bond under its ₦30.00 billion Bond Issuance Programme. This approval, granted by the Exchange’s Board Listings and Markets Committee, provides a platform for mobilising long-term capital to support the growth objectives of LAPO Microfinance Bank and reflects the continued relevance of the Nigerian debt capital market in connecting issuers with funding for sustainable expansion. LAPO MFB SPV Plc, is a special purpose…
Author: Orientalnews Staff
Francesca Odimgbe The Lagos State Governor, Mr Babajide Sanwo-Olu, on Friday inaugurated the newly built IBILE Oil & Gas Corporation (IOGC), an Integrated Energy Hub on the Apapa-Oshodi Expressway, Lagos. It is Nigeria’s first integrated energy hub, described as a significant milestone in the country’s transition to cleaner, more affordable, and sustainable energy sources. Governor Sanwo-Olu stated that the project, which was developed by Ibile Oil and Gas Corporation, exceeds the scope of a typical fuel station, integrating multiple energy solutions under one roof to bolster the future of transportation and economic growth. The event was…
Joseph Bakare The National Chairman of the All Progressives Congress (APC), Prof. Nentawe Goshwe Yilwatda, has said the administration of President Bola Ahmed Tinubu is deliberately investing in infrastructure and human capital development as part of a comprehensive strategy to transform Nigeria into a one-trillion-dollar economy. Prof. Yilwatda stated this when he received the Governing Council of the Federal University of Health Sciences, Otukpo, Benue State, led by its Pro-Chancellor, Professor Muhammad Audu, at the APC National Secretariat in Abuja. The APC National Chairman, in a statement by his Special Adviser on Media and Information Strategy, Abimbola Tooki, said…
Yemisi Izuora Cadbury Nigeria Plc has announced a revenue of N83.35billion for the first half of the year, following the approval of the Company’s unaudited financial statements by its Board of Directors. This represents an increase of 8 percent over the N77.25billion revenue that the Company posted in the same period in 2025. The Company’s gross profit grew by 10 percent from N21.86billion reported in the first half of 2025, to N24.12billion in the period under review. Cadbury Nigeria also reported a profit of N8.10billion in H1 2026, which translates to a 20 percent decrease compared to the N10.17billion…
Yemisi Izuora The National Insurance Commission (NAICOM) and the Nigerian Insurers Association (NIA) and the insurance and pension editors are commenting to broader collaboration to enhance and speed up insurance sector growth. Speaking at the Investiture of the new executives of the Nigerian Association of Insurance and Pension Editors(NAIPE) in Victoria Island, Lagos, on Thursday, NAICOM solicited collaboration of NAIPT with players and other stakeholders to drive reforms that will strengthen insurance industry, enhance Nigeria’s economic resilience and expand social security. The Commissioner for Insurance/CEO, NAICOM, Mr Olusegun Omosehin said, sustained partnership between regulators, the media and industry players is essential…
Uche Cecil Izuora The Nigeria Customs Service (NCS) has begun implementing additional guidelines issued by the Federal Ministry of Finance for fiscal incentives under the Presidential Gas for Growth Initiative, granting import duty and Value Added Tax (VAT) exemptions on a range of gas-powered and environmentally friendly vehicles. The move builds on President Bola Ahmed Tinubu’s push to promote cleaner energy alternatives and expand adoption of sustainable transportation across Nigeria. Under the approved framework, several vehicle and equipment categories now qualify for full exemption from import duty and VAT. These include Compressed Natural Gas (CNG) vehicles running on 100…
Yemisi Izuora Stanbic IBTC has celebrated 30 years of providing custody services in Nigeria with a Closing Gong ceremony at The Nigerian Exchange Limited (NGX). The milestone reflects the institution’s longstanding contribution to investor confidence and the continued development of Nigeria’s capital market. In his opening remarks, Jude Chiemeka, Chief Executive Officer, NGX, welcomed Stanbic IBTC to The Exchange and commended its three decades of custody services. He highlighted NGX’s continued investment in technology, which he said has enabled over 2.6 million active retail investors to trade on the platform. “Technology continues to be at the heart of our…
Uche Cecil Izuora Nigeria Customs Service (NCS) Comptroller-General Bashir Adewale Adeniyi, says the success of the Service’s ongoing institutional reforms determines how effectively they are communicated to the public, urging Public Relations Officers across the Service to adopt a more strategic, intelligence-driven approach to their work. Adeniyi made the case at the closing ceremony of the 2026 Nigeria Customs Service Public Relations Conference in Port Harcourt, Rivers State, at the end of a four-day gathering focused on repositioning corporate communication as a management tool for institutional effectiveness. Adeniyi argued that communication globally has evolved from a support function into…
Uche Cecil Izuora The Kirikiri Lighter Terminal Area Command of the Nigeria Customs Service (NCS) has generated N19,404,925,103.53 in revenue for June 2026, marking a 35 per cent increase over the N14,363,621,664.35 collected in the same month last year, a rise of N5,041,303,439.18. Acting Customs Area Controller, Deputy Comptroller of Customs Bolaji Lukman Adigun, disclosed the figures during a media briefing at the Command on Thursday, 30 July 2026, alongside details of a major seizure of expired disposable vape products. Adigun attributed the revenue growth to the dedication of Command officers, improved compliance among stakeholders, better trade facilitation, and…
Uche Cecil Izuora JMG Limited has successfully commissioned an advanced hybrid solar power system at its Victoria Island Branch in Lagos, reinforcing the company’s commitment to delivering reliable, sustainable, and cost-efficient energy solutions for businesses across Nigeria. The installation combines 66kWp of high-efficiency solar photovoltaic (PV) generation, 80kW of hybrid inverter capacity, and 81.92kWh of lithium battery storage, creating a fully integrated energy platform designed to maximize reliability while significantly reducing dependence on diesel-powered generation. Engineered using advanced load analysis with Fluke Load Analyzer and PV system simulation software, the system is expected to generate approximately 94.8MWh of clean…