Creator
  • Type:
  • Genre:
  • Duration:
  • Average Rating:
Log In
 
  • Marketplace
Log In
 
  • Type:
  • Genre:
  • Duration:
  • Average Rating:
  • Marketplace

Business

Mshel Homes Launches “Mshel Pent Haven”: Abuja’s New Hub for Modern, Eco-Friendly Living

  • dollaers
  • October 28, 2025
  • Business
  • 0 comments

Mshel Homes has unveiled its latest residential development, Mshel Pent Haven, a smart and sustainable estate located along the bustling Airport Road in Abuja. Designed for modern families, professionals, and forward-thinking investors, the project promises a blend of comfort, innovation, and long-term value appreciation.

A Vision for Sustainable and Smart Living

Mshel Pent Haven is built on a foundation of eco-conscious design and technological innovation. The estate integrates modern infrastructure with smart utilities that promote efficient living and environmental responsibility. With features like solar-powered street lighting, central power and water systems, and smart home integration, residents are assured of both convenience and sustainability.

Beyond functionality, the estate emphasizes wellness and community living, offering recreational spaces, children’s parks, and green family gardens. Every element of its layout has been planned to create a serene yet connected environment for residents.

Prime Location Along Airport Road

Strategically situated on Airport Road, Mshel Pent Haven benefits from excellent connectivity to major landmarks in Abuja. The estate is just 15 minutes from Nnamdi Azikiwe International Airport and surrounded by essential infrastructure such as schools, malls, fuel stations, and established residential communities.

This corridor has become one of Abuja’s most promising investment zones, with rapid urban growth and consistent demand driving strong property appreciation. Investing early in Mshel Pent Haven gives buyers an edge in capital gains as development continues in the area.

Modern Features Designed for Lifestyle and Value

Mshel Pent Haven’s infrastructure reflects the needs of today’s homeowners and investors. Key proposed features include:

  • Centralized power and water supply

  • Smart home systems

  • Central sewage management

  • Solar street lights

  • 24-hour professional security

  • Recreational and sporting facilities

  • Family-friendly gardens and parks

Together, these features aim to create a self-sustaining, future-ready community that balances comfort, security, and convenience.

Attractive Pre-Sale Pricing and Flexible Payment Options

Mshel Homes is currently offering investors an opportunity to secure plots at entry-level pre-sale prices, starting from ₦4.788 million for a 150 SQM plot. Larger plot sizes of 250SQM, 350SQM, 450SQM, 750SQM, and 1000SQM are also available.

Buyers can begin with as little as a 30% initial deposit and spread payments over up to 18 months, making the investment accessible to a wider range of homeowners and investors.

Early subscribers stand to benefit from a guaranteed 15% price appreciation ahead of the official price review slated for November 7, 2025. This makes Mshel Pent Haven not just a place to live, but a strategic investment opportunity in Abuja’s expanding real estate market.

Building Trust and Value in Abuja’s Real Estate

Over the years, Mshel Homes has earned a reputation for transparency, timely delivery, and customer trust. The company’s track record of developing high-quality, eco-conscious estates has solidified its position as one of Abuja’s most reliable developers.

Mshel Pent Haven represents the company’s next leap — creating a modern residential community that embodies innovation, class, and sustainability. Whether purchased as a personal home, rental investment, or future asset, properties in Mshel Pent Haven are positioned to deliver long-term financial and lifestyle value.

How to Secure Your Plot

Interested buyers can contact Mshel Homes via 0906 995 1704 or 0813 393 3449, or follow @mshelhomes on all major social media platforms to book a site visit and learn more about the flexible pre-sale packages.

Mshel Pent Haven is not just another estate — it’s a new address for future-forward living, where sustainability meets sophistication in the heart of Nigeria’s capital.

Palm City Reports Major Milestones in Q3 2025: 70,000 Oil Palm Seedlings, Green Infrastructure, and Renewed Commitment to Sustainability

  • dollaers
  • October 28, 2025
  • Business
  • 0 comments

Palm City, the flagship agricultural estate initiative by Xymbolic Development Ltd, has released its Q3 2025 performance report, revealing significant progress in its pilot nursery operations, sustainability practices, and investor engagement strategy. The report highlights the project’s strong foundation, growing momentum, and commitment to building one of Nigeria’s most transparent and eco-friendly agribusiness models.


Pilot Nursery Reaches 70,000 Oil Palm Seedlings

A key highlight of the third-quarter report is the successful establishment of Palm City’s pilot nursery, which now houses over 70,000 oil palm seedlings — enough to cover more than 1,000 acres of plantation.

The nursery represents a crucial step toward Palm City’s long-term goal of creating a structured, scalable, and sustainable oil palm estate.

To ensure operational efficiency and environmental sustainability, the nursery is equipped with a 30,000-litre water reservoir, solar-powered borehole, and a semi-automated irrigation system. Early sprouting of the seedlings indicates the success of the agronomy team’s best-practice cultivation techniques and reinforces confidence in the project’s technical capacity.

According to the management team, these developments place Palm City firmly on course to deliver consistent value for investors and drive agricultural transformation within its host communities.


Collaboration with NIFOR and Okomu Oil Strengthens Knowledge Base

During the quarter, the Palm City team conducted strategic visits to the Nigerian Institute for Oil Palm Research (NIFOR) and Okomu Oil Palm Company Plc — two of Nigeria’s leading institutions in oil palm innovation and large-scale plantation management.

These engagements provided critical insights into research-driven cultivation methods, efficient management systems, and sustainable processing techniques. The knowledge gained from these partnerships will guide Palm City’s next growth phase and help optimize productivity while maintaining environmental balance.

Speaking on the report, Olisa Umerah, CEO of Xymbolic Development Ltd, emphasized the company’s mission of responsible growth:

“Palm City represents a disciplined and transparent approach to agribusiness — one that creates lasting value for investors, uplifts rural communities, and safeguards the environment for future generations.”


Transparency and Investor Confidence

Transparency remains central to Palm City’s operational philosophy. In Q3, the company strengthened investor engagement through regular progress reports, visual documentation, and a dedicated communication platform that ensures verified, real-time updates.

A recently released nursery setup documentary showcased the development milestones achieved so far, giving investors and stakeholders a firsthand view of ongoing activities.

The project’s investor relations framework underscores its commitment to openness, ensuring that every stakeholder — from individual plot owners to institutional partners — has access to accurate and timely information about Palm City’s growth.


Setting the Standard for Sustainable Agribusiness

As Palm City transitions from the pilot stage to full plantation development, sustainability and accountability remain its top priorities. The company’s Q3 report reinforces its long-term vision to create wealth through structured, inclusive, and eco-conscious agribusiness, setting new benchmarks for trust and performance in Nigeria’s agricultural real estate industry.

By combining renewable energy solutions, data-driven farming practices, and strong stakeholder partnerships, Palm City is positioning itself as a model for responsible agricultural investment in West Africa.


About Palm City

Palm City is an integrated agricultural estate and investment project developed by Xymbolic Development Ltd. The initiative combines large-scale plantation development with investor participation, allowing individuals and institutions to own and profit from managed plots within a fully sustainable estate.

The project is built on the principles of transparency, inclusiveness, and long-term value creation, ensuring every investor contributes to a productive and environmentally responsible agricultural ecosystem.

📩 Email: info@xymbolicdevelopment.com
🌐 Website: www.thepalmcity.ng

Nigerian Breweries vs. International Breweries: Who Wins the 2025 Comeback Battle?

  • dollaers
  • October 28, 2025
  • Business
  • 0 comments

After two straight years of heavy losses caused by currency devaluation and inflation-driven costs, Nigeria’s two brewing giants — Nigerian Breweries (NB) and International Breweries (INTBREW) — have both made remarkable recoveries in 2025. Their turnaround has reignited investor confidence and reshaped market sentiment toward the consumer goods sector.

Both brewers have shifted from red ink to strong profitability, sparking major rallies in their share prices. Nigerian Breweries’ stock has surged by 122%, climbing from ₦32 to ₦71, while International Breweries has outperformed with a 161% gain, rising from ₦5.55 to ₦14.50 year-to-date.

This resurgence is largely driven by a combination of improved earnings, cost optimization, and easing foreign exchange pressures, leading to renewed investor optimism in Nigeria’s beverage industry.


Revenue and Market Leadership

Nigerian Breweries continues to dominate the market, with ₦1.041 trillion in revenue recorded within the first nine months of 2025 — a massive 48.24% year-on-year increase. This almost matches its entire 2024 full-year figure of ₦1.084 trillion. The growth rate nearly doubles its five-year average of 26%, showing strong post-recovery momentum.

Meanwhile, International Breweries has also recorded an impressive rebound. The company reported ₦472.57 billion in revenue, up 37.6% year-on-year and close to its 2024 full-year performance of ₦488.96 billion. Its growth exceeds its five-year average of 29%, proving its resilience in a recovering consumer market.

Both brewers benefited from product price adjustments and a gradual rebound in consumer spending, though Nigerian Breweries still leads in scale and market reach.

Verdict: Both brewers are on track to surpass their 2024 performance, but Nigerian Breweries maintains a clear lead in market dominance.


Profitability and Margins

Both companies have staged strong comebacks on the profit front.

Nigerian Breweries posted a ₦126.82 billion pre-tax profit, recovering from a ₦203.12 billion loss in 2024. After tax, NB recorded ₦83.90 billion in profit.
International Breweries also delivered a turnaround with ₦74.21 billion pre-tax profit, rebounding from a ₦154.55 billion loss. Its ₦57.83 billion post-tax profit underscores its efficient cost management.

While NB generated higher total profits, INTBREW’s net profit margin of 12.2% outperforms NB’s 8.1%, highlighting better cost efficiency.

Verdict: Nigerian Breweries leads in total profit and stability, while International Breweries stands out for higher profit margins and operational efficiency.


Balance Sheet and Financial Position

Both companies experienced small declines in total assets, reflecting post-recovery adjustments.

Nigerian Breweries’ total assets slipped by 2.43% to ₦1.11 trillion, while shareholders’ funds rose by 18% to ₦547 billion. This reduced its leverage ratio and marked a 49.6% improvement in retained earnings, now at a negative ₦85.57 billion.

International Breweries’ total assets fell slightly by 2% to ₦713 billion, while shareholders’ funds increased by 13% to ₦507 billion. It also improved its retained earnings deficit by 24%, now at a negative ₦184 billion.

Verdict: Nigerian Breweries’ stronger profit capacity could help it fully clear its retained losses by 2026, ahead of International Breweries, which may need an extra year or two.


Investment Outlook

Both brewers have turned the page on their loss-making years. International Breweries offers faster earnings momentum and superior profit margins, suggesting efficient operations and renewed investor appeal. Its stock still trades 17% below its 52-week high, presenting short-term upside potential.

However, its large negative retained earnings could limit near-term dividend payouts.

Nigerian Breweries, in contrast, provides larger profit volumes, greater financial stability, and stronger dividend prospects. While its stock is 6% down in the past month, it trades only 8% below its 52-week high, reflecting strong investor confidence.

Final Verdict:

  • For short-term investors: International Breweries offers higher growth potential.

  • For long-term, value-focused investors: Nigerian Breweries remains the safer choice, backed by market leadership, consistent profitability, and likely dividend recovery.

Federal Ministry of Environment Launches 1Gov Cloud Digitalisation Programme

  • dollaers
  • October 26, 2025
  • Business
  • 0 comments

The Federal Ministry of Environment has officially joined Nigeria’s digital transformation agenda with the launch of the Galaxy Backbone 1Government Cloud Digitalisation Programme.

At the flag-off ceremony held in Abuja, Minister of Environment Balarabe Abbas Lawal described the initiative as a milestone in modernizing environmental governance and advancing sustainability through technology.

“Digitalisation is no longer optional—it is a necessity,” Lawal said. “Through the Galaxy Backbone 1Government Cloud, we are enabling data-driven environmental management, eliminating paperwork, reducing costs, and directly cutting carbon emissions.”

According to the Minister, the initiative will promote transparency, evidence-based decision-making, and efficient public service delivery.

Background

The launch marks another major step in the Federal Government’s ongoing digitalisation agenda led by Galaxy Backbone Limited (GBB). In May 2024, GBB announced plans to digitize 70% of federal government services by 2025 under the 1Government Cloud (1Gov) framework—a unified digital platform designed to connect all Ministries, Departments, and Agencies (MDAs).

The 1Gov programme emphasizes data sovereignty, ensuring that Nigeria’s digital assets are hosted and controlled within the country. By September 2025, several MDAs—including the Ministries of Solid Minerals, Justice, and Foreign Affairs—had already begun onboarding the 1Gov system under the Sovereign Digitalisation Programme.

Transition to Paperless Governance

Permanent Secretary Mahmud Adam Kambari commended the Ministry’s leadership for embracing the transition to a paperless government. He also praised GBB’s 1Government Cloud team, led by Mr. Wumi Oghoetuoma, for developing a secure and indigenous platform for digital public administration.

Oghoetuoma, who serves as Programme Director of the initiative, called the project “a bold stride in Africa’s digital transformation journey.”

“The Galaxy 1Government Programme is leading public sector digitalisation in Africa, for Africa, by Africa,” he said. “This is not just about technology—it’s about protecting our digital destiny and sovereignty.”

The platform offers a suite of homegrown applications built to replace fragmented and foreign systems, including:

  • GovECM (Enterprise Content Management)

  • GovDrive (Secure File Storage)

  • GovESign (Digital Signatures)

  • GovMail (Official Communication)

  • GovInMail (Secure Inter-MDA Messaging)

  • GovConference (Virtual Meetings)

  • GovAssetManager (Asset Tracking)

  • GovOTP (Multi-Factor Authentication)

According to Oghoetuoma, the Ministry has already gone live on the 1Gov Enterprise Content Management System (ECMS), with 15 departments onboarded, 316 workflows created, and 890 user accounts activated.

Toward Technological Self-Reliance

Dr. Sam Nwosu, CEO of Secured Records Management Solutions Ltd, described the programme as proof of Nigeria’s growing capacity to build world-class digital infrastructure.

He said the initiative represents “a major leap toward technological independence, data protection, and sustainable governance.”

The 1Government Cloud Digitalisation Programme is expected to accelerate Nigeria’s shift to e-governance, enhance efficiency across public institutions, and strengthen the country’s long-term environmental and digital sustainability goals.

Lagos Free Zone: The Top Investment Choice for Nordic Businesses in Nigeria – CEO Adesuwa Ladoja

  • dollaers
  • October 25, 2025
  • Business
  • 0 comments

Lagos Free Zone (LFZ), Nigeria’s first private special economic zone developed by Tolaram, has been reaffirmed as the most attractive destination for Nordic investors seeking long-term opportunities in Nigeria.

Speaking at the Nordic Nigeria Connect 2025 event held in Lagos, the Chief Executive Officer of LFZ, Mrs. Adesuwa Ladoja, highlighted the Zone’s unique advantages—integrated infrastructure, regulatory efficiency, and unmatched logistical access through the Lekki Deep-Sea Port.

According to Ladoja, Lagos Free Zone provides a well-organized and predictable business environment, shielding investors from the typical infrastructural and regulatory hurdles faced elsewhere in the country.

“At Lagos Free Zone, we have a deep-sea port with state-of-the-art facilities. Businesses can easily import raw materials and export finished goods from one location,” she explained. “With new access roads, coastal connections, and plans for rail integration, we’re eliminating major operational bottlenecks. Our single-window regulatory framework also ensures investors can access all required approvals in one place.”

Ladoja also noted that the economic reforms introduced by President Tinubu’s administration, particularly the removal of fuel subsidies and exchange rate unification, have significantly improved investor confidence and transparency.

She emphasized that recent trends—stable exchange rates, lower interest rates, and easing inflation—signal a renewed opportunity for private sector growth. With Nigeria’s young and dynamic population, she said, the country offers both a massive consumer market and a strategic production hub for the 400-million-strong ECOWAS region.

“Nigeria’s combination of structural reforms, market stability, and demographic strength makes it one of Africa’s most attractive investment destinations. The real advantage lies in being an early mover,” Ladoja said.

She added that Nordic countries’ expertise in renewable energy, sustainable manufacturing, logistics, and digital innovation aligns perfectly with Nigeria’s growth agenda. These shared strengths, she noted, open doors for impactful collaborations that drive innovation, job creation, and inclusive development.

Ladoja also commended Nordic nations for their leadership in clean technology, digital transformation, and responsible business practices, which reflect Nigeria’s development aspirations.

Other notable panelists at the event included Frederik Klinke (CEO, APM Terminals Nigeria), Ijeoma Ozulumba (Executive Director/CFO, Development Bank of Nigeria), Naana Winful Fynn (Regional Director, West Africa, Norfund), and Yerje Osmunden (CEO, Empower New Energy).

About Lagos Free Zone
Developed by Singapore-based Tolaram, the Lagos Free Zone spans 860 hectares in Lagos State and is fully integrated with the Lekki Deep-Sea Port. It offers world-class infrastructure, efficient logistics, and a streamlined regulatory system designed to simplify the process of doing business in Nigeria—making it a gateway for regional and international investors.

TETFund to Roll Out Electric Campus Shuttles in 12 Universities by November

  • dollaers
  • October 23, 2025
  • Business
  • 0 comments

The Tertiary Education Trust Fund (TETFund) has announced plans to introduce electric-powered campus shuttle services across 12 Nigerian tertiary institutions by November 2025, marking a significant step toward cleaner, more efficient mobility in the nation’s education sector.

The initiative, according to TETFund Executive Secretary Sonny Echono, is part of the government’s broader agenda to modernize public universities and improve students’ welfare through sustainable and technology-driven solutions. Echono disclosed the plan on Wednesday in Abuja during a meeting with the National Association of Nigerian Students (NANS) delegation, led by its National Secretary, Comrade Shedrack Anzaku.

Boosting Student Mobility and Safety

Echono explained that the electric shuttle scheme was designed to address the mobility challenges students face within and around campus environments, particularly for those living off-campus. The project aims to reduce travel stress, minimize transportation costs, and enhance campus safety.

“Students currently face many risks and spend so much time moving around campuses, especially those who live off-campus. From next month, we will be launching electric student shuttle services in selected institutions,” Echono said.

He added that the vehicles will be operated and managed by students to ensure transparency, accountability, and long-term sustainability. Charging stations will be installed within each participating campus, while ride fares will remain minimal to ensure affordability for all students.

Aligned with President Tinubu’s Student Welfare Agenda

According to TETFund, the project directly aligns with President Bola Tinubu’s directive to enhance student welfare and create inclusive learning environments across Nigeria’s higher education system. The electric shuttle service is one of several welfare-based initiatives introduced under this mandate.

Echono further noted that the program reflects a growing commitment to clean energy adoption and environmental sustainability within the education sector, consistent with Nigeria’s national energy transition goals.

Broader Development Initiatives Underway

Beyond the electric shuttle project, TETFund is also intensifying its investments in student housing, digital learning infrastructure, and campus energy systems. Echono revealed that new student hostels are under construction across 72 institutions nationwide, with completed facilities scheduled for commissioning starting December 2025.

He added that TETFund is scaling up support for research laboratories, e-learning platforms, and renewable energy projects to make Nigeria’s higher institutions globally competitive.

“These interventions are not isolated efforts. They form part of a broader drive to modernize our tertiary institutions, improve power reliability, and create learning environments that meet 21st-century standards,” Echono said.

The Executive Secretary also linked the ongoing projects to the National Student Loan Scheme, now managed by the Nigeria Education Loan Fund (NELFund), emphasizing that the government’s education reform efforts are focused on inclusion, affordability, and quality access.

NANS Commends TETFund’s Impact

In response, Comrade Anzaku of NANS applauded TETFund for its consistent interventions, stating that many of the facilities and structures that define Nigerian campuses today owe their existence to the Fund’s projects.

He described the electric shuttle plan as a “transformative step” that would not only ease student movement but also help campuses transition toward sustainable mobility solutions.

Transition to Clean Energy Transportation

The TETFund initiative comes amid Nigeria’s broader shift toward cleaner energy alternatives, following the government’s removal of fuel subsidies in 2023. This policy change has prompted public agencies and transport operators to explore electric and compressed natural gas (CNG)-powered mobility solutions.

Automotive expert Richard Akpodiete told Nairametrics that Nigeria’s transition would benefit from adopting hybrid vehicles in the short term, noting that countries such as Germany achieved smoother transitions by developing hybrid infrastructure and aligning incentives with energy regulations.

He explained that hybrid options offer a practical bridge for Nigeria, allowing drivers to switch between fuel and electricity until nationwide charging infrastructure becomes stable.

Record Funding for Tertiary Institutions

In August 2025, TETFund received a record N1.6 trillion allocation, the highest in its history, for interventions across Nigerian tertiary institutions. Out of this, N70 billion was earmarked for renewable energy initiatives—including solar and gas-powered systems—while N25 billion was designated for campus security upgrades such as smart street lighting and surveillance systems.

With the introduction of electric campus shuttles, TETFund aims to combine infrastructure renewal with innovation, setting a new benchmark for sustainable transport and student welfare in Nigeria’s education system.

Trade Digital Currencies

Dangote Refinery to Double Capacity to 1.4 Million Barrels Per Day, Poised to Become World’s Largest

  • dollaers
  • October 23, 2025
  • Business
  • 0 comments

Africa’s richest man, Aliko Dangote, has unveiled ambitious plans to expand the Dangote Refinery’s capacity from 650,000 barrels per day (b/d) to 1.4 million b/d, a move that would make it the largest oil refinery in the world.

Speaking in an exclusive interview with S&P Global, Dangote confirmed that the Lagos-based $20 billion refinery is preparing for its next growth phase, supported by new financing arrangements and possible investment partnerships from the Middle East.

Once completed, the expansion will allow the refinery — situated within the Lekki Free Zone — to surpass India’s Jamnagar Refinery, which currently holds the global record with a 1.36 million b/d capacity.

Expansion Blueprint and Petrochemical Growth

Dangote noted that the refinery was originally designed with room for expansion, including empty concrete plots designated for an additional refining system, which engineers say will enable seamless scaling.

“We started with 650,000 barrels per day and later targeted 700,000 by the end of the year. Our long-term goal is to reach 1.4 million barrels per day,” Dangote said.

Beyond crude refining, the expansion will bolster petrochemical production, including linear alkylbenzene and base oils, while raising polypropylene output from one million to 1.5 million metric tonnes annually.

Dangote added that his group’s power generation capacity — currently double its consumption — provides a strong foundation for the refinery’s continued industrial growth despite Nigeria’s infrastructural challenges.

$4 Billion Financing Deal and Listing Plans

As part of its broader growth strategy, Dangote Industries secured a $4 billion financing package in August 2025, easing concerns about its debt obligations and reinforcing its financial stability.

The company also plans to list between 5% and 10% of the refinery’s shares on the Nigerian Stock Exchange (NSE), similar to its cement and sugar subsidiaries. Dangote explained that the group would retain 65–70% ownership, with the remainder offered to investors gradually based on market conditions.

The additional capital will fund petrochemical and international projects, including a new plant in China, expanding Dangote Industries’ global footprint.

Refinery Stabilization and Market Impact

The refinery, which began operations in 2024, has encountered temporary challenges — including a short-lived shutdown of its residue fluid catalytic cracker (RFCC) in September 2025 — but operations have since stabilized.

Currently, the Dangote Refinery meets about 80% of Nigeria’s domestic fuel demand, positioning the nation as a net exporter of diesel and jet fuel for the first time in decades.

Dangote on Africa’s Energy Independence

Dangote reiterated his vision for Africa’s energy self-sufficiency, urging more private sector involvement in refining and production.

“Without substantial private investment, most African governments will not have the capacity to build refineries,” he warned, citing high interest rates and inadequate infrastructure as major barriers.

With the planned expansion to 1.4 million barrels per day, Dangote Refinery is on track not only to redefine Nigeria’s energy landscape but also to cement Africa’s position as a major force in the global downstream oil industry.

BUA Foods, Aradel, and First HoldCo Lead Rally as All-Share Index Surges Past 150,000 to Record High

  • dollaers
  • October 22, 2025
  • Business, Finance
  • 0 comments

The Nigerian stock market continued its bullish run on Tuesday, October 21, 2025, as the All-Share Index (ASI) crossed the historic 150,000 mark for the first time ever, driven by strong performances from BUA Foods, Aradel Holdings, and First HoldCo.

The benchmark index gained 1,516 points or 1.01%, closing at 151,456.91, up from 149,940.8 in the previous session. Trading activity also spiked, with 551.9 million shares exchanged—an increase from 415 million the day before.

Market capitalization rose to ₦96.13 trillion, edging closer to the ₦100 trillion milestone, as investors showed renewed interest in large-cap stocks.

Top Market Movers

On the gainers’ chart, SCOA and OMATEK led with 7.74% and 7.48% gains, respectively. They were followed by CONHALLPLC (+6.70%), BUA Foods (+6.54%), and Vitafoam (+5.92%).

Meanwhile, LIVINGTRUST (-9.91%) and CONOIL (-5.83%) topped the losers’ chart, alongside AFRIPUD (-5.69%), SOVRENINS (-3.95%), and NPFMCRFBK (-3.75%).

Trading Volume and Value

  • FIDELITYBK recorded the highest trading volume with 59.1 million shares, followed by VFDGROUP (39.3 million), JAPAULGOLD (37.7 million), ACCESSCORP (37.3 million), and GTCO (31.3 million).

  • In terms of value, GTCO led with transactions worth ₦2.9 billion, trailed by DANGCEM (₦2.07 billion), ARADEL (₦1.64 billion), MTNN (₦1.20 billion), and FIDELITYBK (₦1.1 billion).

SWOOT and FUGAZ Stocks

Among the Stocks Worth Over One Trillion Naira (SWOOTs), most recorded gains:

  • BUA Foods rose 6.54%

  • Aradel advanced 4.94%

  • Lafarge gained 1.1%

  • Nigerian Breweries added 0.07%

Performance among FUGAZ (FirstBank, UBA, GTCO, Access, Zenith) stocks was mixed:

  • First HoldCo gained 4.46%

  • UBA closed flat

  • AccessCorp (-1.77%), GTCO (-0.32%), and Zenith Bank (-0.15%) ended lower.

Market Summary

  • Current ASI: 151,456.91

  • Previous ASI: 149,940.8

  • Day Change: +1.01%

  • Year-to-Date Gain: +47.15%

  • Volume Traded: 551.9 million

  • Market Cap: ₦96.13 trillion

Market Outlook

The Nigerian Exchange (NGX) continues to display strong bullish momentum after smashing the 150,000-point ceiling. Analysts expect the rally to persist as more Q3 financial results are released, particularly from large-cap companies.

If upcoming earnings reports remain positive, the ASI could maintain its upward trajectory and push the market closer to the ₦100 trillion capitalization milestone—a historic achievement for Nigeria’s capital market.

Next Generation Asset

MTN Nigeria to Temporarily Shut 101 Network Sites for Maintenance on October 25

  • dollaers
  • October 22, 2025
  • Business
  • 0 comments

MTN Nigeria has announced a scheduled network maintenance exercise that will temporarily disrupt service across parts of Adamawa, Borno, and Kano States on Saturday, October 25, 2025.

According to a company statement, the two-hour maintenance window—from 6:00 a.m. to 8:00 a.m.—will affect 101 network sites across 15 Local Government Areas in the three northern states.

Strengthening Fibre Infrastructure in Northern Nigeria

MTN explained that the maintenance is part of an ongoing plan to enhance network reliability and upgrade its fibre infrastructure in northern Nigeria.

The operation will involve a fibre cutover on a newly relocated cable segment between AFCOT and Bawo Village, which replaces damaged spans and eliminates multiple cable joints that have previously affected signal quality and network stability.

“This exercise is necessary to ensure long-term service reliability and better network performance for customers,” MTN said in a statement.

Areas to Be Affected

The company disclosed that services will be unavailable in the following areas during the maintenance period:

  • Kano State: Nasarawa LGA

  • Adamawa State: Girei, Song, Mubi North, Hong, Gombi, Fufore, Mubi South, Madagali, Michika, Maiha, Chibok, and Yola North

  • Borno State: Askira/Uba and Shani

The temporary outage will affect 2G, 3G, 4G, and 10 enterprise connections, as the affected fibre route is currently linear and unprotected.

Second Phase of Earlier Restoration Effort

This intervention follows a network restoration exercise carried out in August 2025 along the same AFCOT–Bawo fibre route. MTN said this latest phase is a comprehensive upgrade aimed at resolving recurring fibre faults and ensuring consistent connectivity across the region.

While acknowledging the inconvenience customers may experience, MTN assured users that the outage will be brief and is intended to deliver more resilient network services.

“We regret any inconvenience this may cause and appreciate our customers’ understanding,” the company said.

Fibre Cuts Remain a Major Challenge

MTN’s announcement comes amid a rising trend of fibre cable cuts affecting telecom networks nationwide. In August, Nairametrics reported that residents in Kebbi, Sokoto, and Zamfara States experienced simultaneous network blackouts after MTN and 9mobile suffered concurrent fibre cuts.

The Nigerian Communications Commission (NCC) has raised alarms over the growing rate of infrastructure damage, with operators like MTN, Airtel, and 9mobile reportedly recording an average of 1,100 fibre cuts weekly across the country.

To combat the issue, the NCC has introduced enforcement measures, public awareness campaigns, and collaboration with national security agencies to protect telecom assets.

Telecom infrastructure has also been designated as Critical National Information Infrastructure (CNII) under the Cybersecurity Act, emphasizing the shared responsibility among operators, government agencies, and citizens to safeguard the nation’s communication backbone.

MTN reiterated its commitment to improving service quality and maintaining network resilience across Nigeria, assuring subscribers that the scheduled maintenance is a necessary step toward a faster, stronger, and more reliable network experience.

Kenya’s Former Prime Minister Raila Odinga Dies at 80

  • dollaers
  • October 15, 2025
  • Business
  • 0 comments

Kenya is mourning the death of Raila Odinga, the country’s former Prime Minister and longtime opposition leader, who passed away at the age of 80. His death marks the end of one of the most remarkable and influential political careers in Kenya’s history.

According to Reuters, Odinga died while receiving treatment at an Ayurvedic medical centre in India, where he had been undergoing care in recent weeks.

A Lifelong Struggle for Democracy

Over his five-decade career, Odinga became synonymous with Kenya’s fight for democracy and political reform. Though he ran for president five times without success, his campaigns reshaped the nation’s political landscape. Two of those elections — particularly in 2007 and 2017 — led to intense political crises and deadly violence, underlining his central role in Kenya’s turbulent democratic evolution.

Despite never reaching the presidency, Odinga’s legacy as a reformer, activist, and opposition stalwart remains undeniable. He was instrumental in achieving two of Kenya’s most significant democratic milestones — the legalisation of multiparty politics in 1991 and the adoption of a new constitution in 2010, both of which transformed Kenya’s governance system.

A Polarising but Respected Leader

Odinga’s activism and leadership were not without controversy. Following the disputed 2007 presidential election, he led nationwide protests that escalated into the worst violence seen in Kenya since independence — a conflict that left over 1,300 people dead and displaced hundreds of thousands.

Yet, through these moments of upheaval, Odinga emerged as a symbol of resilience, often calling for peace, justice, and accountability. He was known for his fiery rhetoric against corruption and inequality, positioning himself as a voice for Kenya’s marginalized communities and an unwavering advocate for democratic ideals.

Outpouring of Tributes

News of Odinga’s death has prompted an outpouring of grief across Kenya and beyond. Political leaders, former rivals, and global figures have expressed condolences, acknowledging his enduring impact on African democracy. Many have described him as a patriot and mentor whose influence extended far beyond politics.

Early Life and Education

Born on January 7, 1945, in Maseno, Kisumu District, Raila Amolo Odinga was the son of Jaramogi Oginga Odinga, Kenya’s first vice president, and Mary Juma Odinga.

A member of the Luo ethnic group, Odinga pursued his studies in East Germany, attending the Herder Institute and later the Technische Hochschule in Magdeburg, where he earned a certificate in welding in 1970.

Upon returning to Kenya, he founded a company that manufactured liquid petroleum gas cylinders and later joined the Kenya Bureau of Standards, where he rose to become Deputy Director.

Political Journey

Odinga entered politics during Kenya’s one-party era and was detained multiple times for his involvement in pro-democracy movements, particularly after the 1982 coup attempt. His fearlessness earned him nicknames such as “Agwambo” (the mysterious one) and “Jakom” (the chairman).

He joined FORD-Kenya in the 1990s and later helped form the National Rainbow Coalition (NARC), which successfully brought Mwai Kibaki to power in 2002. In subsequent years, he founded the Orange Democratic Movement (ODM), which became one of Kenya’s most powerful opposition parties.

In 2018, Odinga made global headlines after his “handshake” with then-President Uhuru Kenyatta, a reconciliation gesture that ended years of political division and gave rise to the Building Bridges Initiative (BBI).

He later served as the African Union High Representative for Infrastructure Development, continuing his advocacy for pan-African cooperation and economic progress.

A Lasting Legacy

Though Raila Odinga never attained the presidency, his imprint on Kenya’s political identity is profound. He is remembered as a revolutionary democrat, a relentless reformer, and a unifying figure whose vision helped shape modern Kenya.

His passing leaves a significant void in Kenyan politics, especially within the opposition, where he inspired and mentored an entire generation of leaders committed to justice, transparency, and reform.

Raila Odinga’s life was defined by resilience, conviction, and a lifelong belief that Kenya could always be better — freer, fairer, and more democratic.

  • ‹ Previous
  • 1
  • …
  • 5
  • 6
  • 7
  • 8
  • Next ›
Forgot Password
Please enter your email address or username below.
*
 
Login
*
*
Lost Your Password
Dont have account? Signup
 
 
0