New York, Nov 18, 2025 – Oil prices are expected to decline through 2026, Goldman Sachs said on Monday, citing a production surge that will keep the market in a large surplus of around 2 million barrels per day. The bank forecast Brent crude will average $56 a barrel and WTI $52 in 2026, below current forward curves of $63 and $60. “The 2025-2026 supply wave mostly results from long-cycle projects that saw Final Investment Decisions (FIDs) just before the pandemic, got delayed during Covid, and are now all …
Tinubu receives Anders Povlsen, richest man in Denmark, on visit to Nigeria
Abuja, Oct. 29, 2025 – President Bola Tinubu on Tuesday received Anders Holch Povlsen, the richest man in Denmark, who paid a visit to him in the bid to deepen cooperation between the two countries and attract foreign investments. Bayo Onanuga, the Special Adviser to the President on Information and Strategy, disclosed this on his official X handle on Tuesday. He said the meeting was held behind closed doors. According to the statement, Povlsen was accompanied on the visit by the Danish Ambassador to Nigeria, Jens Bach Hansen, and …
TikTok: US treasury secretary anticipates final deal after Trump, Xi talk on Friday
Washington, Sept. 16, 2025 – U.S. Treasury Secretary Scott Bessent said on Tuesday he anticipated a final deal on the short-video app TikTok when President Donald Trump speaks with Chinese leader Xi Jinping on Friday. China had a long list of asks during talks this week in Madrid, Bessent said. He described the negotiations as fulsome and conducted with great respect. The two sides said on Monday they have reached a framework agreement after months of talks between the world’s No. 1 and No. 2 economies to defuse a wide-ranging …
Tinubu assures Colombia of swift implementation of bilateral agreements
Abuja, Sept. 2, 2025 – President Bola Ahmed Tinubu has reaffirmed Nigeria’s commitment to strengthening international partnerships and aligning its foreign relations with evolving global trends in trade, politics, and culture. The President made the pledge on Monday while received the Vice President of the Republic of Colombia, Francia Márquez, at the State House in Abuja. He said the global economic volatility and shifting international policies would necessitate new partners for shared prosperity. Tinubu assured the delegation of senior government, business, and diplomatic officials from the South American country that …
Dangote-Ethiopia Deal: A New African Renaissance
By Henok Tadele Haile Addis Ababa, Sept. 1, 2025 – When Ethiopia and Nigeria shook hands in Addis Ababa last week over a 2.5 billion USD fertilizer complex deal, it was more than a business transaction. It was a declaration of intent, a bold statement that Africa is ready to rewrite its agricultural future with homegrown solutions and intra-continental cooperation at an unprecedented scale. This landmark investment, led by Africa’s richest man, Aliko Dangote, and Ethiopia’s reform-driven government under Prime Minister Abiy Ahmed, positions Ethiopia not just as a consumer …
Tinubu’s state visit to Brazil could unlock $30bn investments – official
Brazilia, Aug. 28, 2025 – President Bola Tinubu’s state visit to Brazil could unlock over $30 billion in investments across key sectors of the Nigerian economy. Gov. Uba Sani of Kaduna State said this on Thursday while speaking to journalists in Brasília, Brazil. Sani said the Memoranda of Understanding (MoUs) signed during the visit, particularly in agriculture, aviation, and science and technology, could significantly transform Nigeria’s economic landscape. “We’re looking at more than $30 billion in investments in agriculture, food security, aviation, and airspace collaboration between Nigeria and Brazil,” he …
Chowdeck, Nigerian food delivery startup, raises $9m to expand business
Lagos, Aug. 11, 2025 – Chowdeck, a Lagos-based food delivery startup that has stayed profitable in a notoriously tough and low margin market, has raised $9 million in Series A funding to launch a quick commerce strategy and expand into more cities in Nigeria and Ghana. The equity round was led by Novastar Ventures with participation from Y Combinator, AAIC Investment, Rebel Fund, GFR Fund, Kaleo, HoaQ, and others. The investors are betting on the team’s ability to pair local market expertise with execution and turn a notoriously difficult sector …
Transcorp Group grows revenue by N279.7bn, profit before tax to N85.7bn in first half of 2025
…Announces N4.064bn interim dividend to shareholders Lagos, July 28, 2025 – Transnational Corporation Plc, Nigeria’s leading listed conglomerate, has announced its first half of 2025 unaudited results, showing impressive year-on-year growth for the period ended June 30, 2025. Transcorp Group’s H1 2025 revenue grew by 59% from N175.4 billion in 2024 to N279.7 billion, while profit before tax grew by 21%, to close at N85.7 billion compared to N70.9 billion recorded in H1 2024. Despite continuing economic headwinds, Nigeria’s bellwether stock, with a portfolio that spans power, resources and …
Chairman attributes good performance of BUA Cement to prudent management
Abuja, July 21, 2025, Alhaji Abdul Samad Rabiu, the Chairman of BUA Cement Plc, has attributed the good operational results of the company in 2024 financial year to prudent management. Rabiu made the observation in Abuja on Monday while briefing the press after the annual general meeting of the company. He said the company’s performance in 2024 was driven by effective pricing strategies and the company’s ability to absorb rising cost of inputs, amongst others. The company’s gross revenue rose to N877 billion in 2024, from the N460 billion in …
Tinubu approves establishment of South-East Investment Company
Abuja, July 18, 2025 – President Bola Ahmed Tinubu has granted executive approval for the establishment of the South-East Investment Company (SEIC) with a capital base of N150 billion. The Presidency announced this in a statement on Friday through the official handle of the Presidency of the Federal Republic of Nigeria. It said the approval of the company followed the submission of the SEDC’s 100-day performance report and a formal request to establish a company focused on regional competitiveness and inclusive economic growth. The company will operate as a subsidiary …