Watkins apologised to Villa squad before exit

By IkechukwuNnochiriThe Federal High Court in Abuja has slated September 21 to hear a petition seeking to formally wind up NICON Insurance Limited following the cancellation of its operating licence.Justice ChigozieOnah, while fixing the matter for hearing, ordered that assets, properties, investments, bank accounts, books, records, documents, and other proprietary interests of the company “be preserved and protected from any disposition, dissipation, alienation, encumbrance or dealing in

•As country spends N16trn on food imports in three yearsBy Providence AyanfeoluwaNigeria’s huge food import gap presents a major opportunity for the domestic food processing and packaging industry to deepen local production, create jobs and retain more value within the economy, the Chief Executive Officer of Beta Glass Plc, Alex Gendis, has said.Gendis cited United States Department of Agriculture, USDA, data showing that Nigeria imported approximately $6.6 billion worth of agricultu

By Udeme AkpanPresident and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, has said the forthcoming Initial Public Offering, IPO, of the Dangote Petroleum Refinery is being structured to enable ordinary Nigerians to participate in the ownership of one of Africa’s strategic industrial assets.According to him, the public offering was “for the people”, noting that efforts were being made to simplify the share purchase process and make it accessible to inves

By Obas Esiedesa, AbujaThe Transmission Company of Nigeria (TCN) has declared force majeure on the 330kV Kainji-BirninKebbi transmission line following the collapse of a transmission tower along the corridor.TCN, in a statement on Tuesday, said the line tripped at 10:44 p.m. on Monday, September 7, 2026.It said a trial re-closure was attempted at 11:07 p.m., but the line tripped again, prompting linesmen from TCN’s BirninKebbi Sub-Region to begin a fault-finding patrol along the transmiss

By UdemeAkpanElektron Energy, a developer and operator of embedded power infrastructure, has unveiled its Victoria Island Power (VIPL) project, a 40-megawatt embedded power network designed to provide dedicated and more reliable electricity to businesses in one of Lagos’ upscale commercial districts.The company opened the project to customers and business leaders recently at its Victoria Island Power Customer Experience Day, giving stakeholders an opportunity to inspect the facility and r

By ObasEsiedesa, AbujaThe Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has commenced engagements with key stakeholders as part of plans to attract increased Chinese investment into Nigeria’s oil and gas sector and boost revenue accruing to the Federation Account.The Commission, in a statement by Head, Information and Public Relations Unit, Maryam Yusuf, said it is planning an Oil and Gas Investment Summit in China, tentatively scheduled for the end of November 2026, to sh

By Udeme Akpan, Energy EditorPetrol prices remain elevated at filling stations across Nigeria despite a significant drop in depot prices raising fresh questions over profiteering between wholesale loading and retail prices.The latest mid-day depot price report for Tuesday, September 8, 2026, showed Premium Motor Spirit, PMS, also known as petrol selling between N1,266 and N1,280 per litre at several major Lagos depots.Dangote Refinery and Pinnacle quoted N1,266 per litre, while MRS was at N1,26

By Elizabeth AdegbesanThe Naira yesterday appreciated to N1,387 per dollar from N1,390 in the parallel market on Monday.Similarly, the naira appreciated to N1,322.9 per dollar in the Nigerian Foreign Exchange Market, NFEM.Data from the Central Bank of Nigeria, CBN, showed that the indicative exchange rate for the naira fell to N1,322.9 per dollar from N1,320 per dollar on Monday, indicating N2.9 appreciation for the local currency. Consequently, the margin between the parallel and official

By Babajide Komolafe
Nigeria’s tax administration is entering a phase in which the quality of information available to the tax authority could become as important as the revenue collected.
Across the economy, transactions are increasingly generated and recorded digitally. The challenge for the Nigeria Revenue Service, NRS, is how to use such information to identify taxable activity, verify declarations, reduce leakages and make compliance less cumbersome.
This is the direction of the ongo

By Henry ObettaPremiumTrust Bank has received dual credit rating upgrades from Agusto& Co. and DataPro Limited, underscoring its financial strength, sound risk management and growth trajectory.Agusto upgraded the Bank’s long-term rating from BBB+ to A- and short-term rating from A2 to A1, while DataPro upgraded its long-term rating from A- to A and affirmed its short-term rating at A1. The upgrades followed the Bank’s strong performance, with a pre-tax profit of N177.1 billion a

By Elizabeth AdegbesanThe Federal Government through the Debt Management Office, DMO, has offered two savings bonds for September subscription.DMO made this announcement yesterday noting that the Savings bonds comprises a  2-Year FGN Savings Bond due Sept 16, 2028 at 14.12 percent per annum , and a  3-Year FGN Savings Bond due Sept 16, 2029 at 15.12 percent.According to DMO, the offer closes on  September 11, 2026 with settlement date slated for September 16, 2026.Coupon payment

By ObasEsiedesa, AbujaThe Nigerian National Petroleum Company Limited (NNPCL) has disowned a truck bearing markings associated with the company after it was intercepted by the National Drug Law Enforcement Agency (NDLEA) with 2,145 kilogrammes of cannabis concealed in a compartment in Ondo State.NNPC Ltd, in a statement by its Chief Corporate Communications Officer, Andy Odeh, on Monday, said preliminary checks showed that the vehicle, with registration number MKA 960 XC, was neither owned by t

By Yinka KolawoleNigeria’s merchandise trade surplus surged by 66.8 per cent quarter-on-quarter to N12.59 trillion in the second quarter of 2026, from N7.55 trillion recorded in Q1, as a sharp rise in exports widened the gap between the country’s earnings from exports and its import bill.In its foreign trade statistics report released yesterday, the National Bureau of Statistics, NBS, noted that Nigeria’s total merchandise trade stood at N41.44 trillion in Q2’26, compris

***Net outflow widens by 1,073%***Nigeria faces persistent foreign portfolio selling pressure — AnalystsBy Peter EgwuatuForeign Portfolio Investment (FPI) net capital outflow from the Nigerian equities market widened by more than 1,073 per cent in three years, rising from N22.68 billion in the first seven months of 2023 to N266.07 billion by July 2026, as foreign investors took more money out of the market than they brought in.Vanguard’s findings f

Dangote Petroleum Refinery and Petrochemicals FZE on Monday unveiled a N2.15 trillion Initial Public Offer (IPO), offering Nigerians and other Africans an opportunity to acquire shares in the 700,000-barrel-per-day refinery.The offer comprises 4.1 billion ordinary shares at N525 per share, with a minimum subscription of 10 shares valued at N5,250.Chief Executive of the company, Alhaji Aliko Dangote, said the offer was aimed at raising capital for the refinery’s expansion while broadening

By Udeme Akpan, Energy EditorThe Securities and Exchange Commission, SEC’s approval clears the way for a potential ₦2.15 trillion Initial Public Offering, IPO, giving public investors an opportunity to own a stake in one of Africa’s largest industrial assets.Businesses suffer as FG’s domestic borrowings surge 90% to N24.7trnRead Also:
The proposed IPO of Dangote Petroleum Refinery and Petrochemicals FZE is shaping up to be a landmark transaction for Nigeria’s capit

By yinka Kolawole
At the backdrop of improved optimism among manufacturers in Nigeria’s business environment, the manufacturing sector contributed N4.128 trillion to the nation’s Gross Domestic Product, GDP, in the second quarter of 2026 (Q2’26), indicating a 3.3 percent year-on-year (y/y) increase compared to N3.998 trillion recorded in Q2’25.Data from the National Bureau of Statistics (NBS), however, showed that the sector’s performance weakened sharply on a quar

By Emeka AnaetoThe Nigerian Ports Authority (NPA), has reported significant growth in cargo throughput, vessel traffic, container movements, vehicle traffic among others in the second quarter of 2026, Q2’26, attributing the development to the various reforms the Federal Government introduced in the maritime sector.This was contained in the NPA Operational Performance Report for Q2’26 which also revealed an overall improvement in operational activities.Breakdown of the report showed

By Peter Egwuatu The Securities and Exchange Commission (SEC) has said the adoption of the T+1 settlement cycle in Nigeria’s capital market is going on smoothly, describing it as a development that has enhanced competitiveness and provided relief to market participants.Disclosing this in a media chat in Abuja last weekend, Director, Registration, Exchanges and Market Infrastructure, Mrs. Hafsat Rufai, said both local and international investors had expressed satisfaction with the new

By Peter EgwuatuThe Nigerian stock market closed last week on a positive note, as investors on the Nigerian Exchange Limited, NGX, gained N3.73 trillion.This comes ahead of the transition of the Nigerian market from unclassified to frontier market later this month.Market details last week showed that gains in MTN Nigeria by 5.0%, Seplat Energy 10.0%, Zenith 6.3% and FirstHoldco 3.4% significantly drove the NGX All-Share Index, ASI, higher by 2.4% Week-on-Week, WoW, to 246,992.44 points from 241

By Babajide KomolafeThe federal government increased its borrowing from domestic investors by 90.5 per cent, year-on-year (YoY), to N24.7 trillion in the eight months to August 2026, against N12.98 trillion in the corresponding period of 2025 (8M’25).
Financial Vanguard findings from the government’s various public finance data also showed that credit to government grew more than four times faster than credit to the private sector during the same period. The data are generated from

Two support groups for President Bola Tinubu, the Renewed Hope Agenda Continuity Marshals and Tinubu Torch Bearers, have opened discussions on a strategic partnership to deepen grassroots mobilisation ahead of the 2027 presidential election. The groups, in a statement released on Saturday, said the proposed collaboration would focus on mobilising youths, women and Nigerians generallyRead More: https://punchng.com/2027-tinubu-support-groups-begin-grassroots-mobilisation/