This is contained in a statement by the company on Tuesday in Lagos.

Our correspondent reports that the current market capitalisation of the Nigerian Exchange Ltd. stands at N131.608 trillion.

The company’s market capitalisation stood at about N1.01 trillion as of April 10, while its enterprise value rose to approximately N1.05 trillion.

This indicates a significant re-rating driven by improved business fundamentals.

Data from the exchange showed that Guinness Nigeria’s share price closed at N462.90 on April 12, extending an 18-month rally that had boosted shareholder value and reinforced confidence in its strategic direction.

The firm’s audited financial results for the 18-month period ended Dec. 31, 2025, underscored its improved performance, with revenue of N730.80 billion.

Gross profit grew by 152 per cent to N230.5 billion, reflecting stronger margins and operational efficiency.

The company also returned to profitability, posting a net profit after tax of N41.16 billion, compared to a loss recorded in the previous period.

The results followed a transition to a new financial year-end of Dec. 31 and marked the first full audited reporting cycle under its current ownership structure.

Commenting on the development, Chairman of the Board, Prof Fabian Ajogwu, described the milestone as a validation of the company’s strategic direction.

“This is a defining moment for Guinness Nigeria. Crossing the N1 trillion market capitalisation thresholds reflects the resilience of our business, strength of our brands, and renewed investor confidence in our long-term prospects,” he said.

Ajogwu reaffirmed the company’s commitment to corporate governance, sustainable growth and long-term value creation.

He said over the period, the company had driven performance through revenue growth, portfolio optimisation, cost discipline, and expanded route-to-market capabilities.

“These efforts have been complemented by a sharpened focus on innovation, premiumisation, and consumer-centric strategies, reinforcing our leadership in Nigeria’s beverage alcohol sector.

“Guinness Nigeria has also continued to strengthen its balance sheet, embed sustainability into its operations, and uphold strong corporate governance standards.

“We are also maintaining our commitment to responsible consumption and positive community impact.

“Looking ahead, we remain focused on accelerating growth through consumer obsession, portfolio expansion, and continued innovation, while maintaining a disciplined approach to capital allocation and shareholder returns,” he said.

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The Minister of State for Industry, Sen. John Owan-Enoh, disclosed this during a one-day working visit to the Sunti Golden Sugar Estate in Mokwa Local Government Area of Niger on Monday.

Owan-Enoh explained that the target would be achieved through the Backward Integration Policy (BIP) of President Bola Ahmed Tinubu’s administration.

According to him, other incentives for manufacturers are expected to scale up Nigeria’s local sugar production.

The minister said the expansion “is aimed at” meeting the sugar demand of Nigerians.

Owan-Enoh stated that the federal government “is encouraging local production by offering incentives such as duty-free importation of machinery and equipment for production companies.”

He noted that while the BIP had begun to yield results, it had not yet fully met expectations.

“I think that in this facility, like the other two that I have visited already, this is what a combination of government policy and private sector engagement can give you.

“It is a reflection of the implementation of the government’s backward integration programme.

“It also demonstrates that there is a business going on; there is an industry with all the elements that you can think about.

“People are gainfully employed. At its peak, I understand this facility has about 4,500 workers. So, government’s requirement for gainful employment is itself achieved here,” Owan-Enoh said.

The minister expressed satisfaction with the production process and the capacity of local industries to deliver results, while acknowledging some gaps still remain.

“I have never stopped getting amazed at what production can be. From the farm, you get to the factory and find sugar produced.

“This itself begins to demonstrate the ability of the country, of these business people, and of the industry to achieve that,” he said.

He, however, stressed that production levels remained below expectations despite progress, while highlighting the sector’s ambition to significantly increase output by 2030.

“While we can praise this to be an implementation of the BIP, it still falls quite short in terms of what expectations are of that policy.

“But I am glad that there is an ambition that by 2030 the output is going to increase to 300,000 metric tonnes,” the minister revealed.

Owan-Enoh identified limited land under sugar cane cultivation as the sector’s biggest challenge, noting that expansion in cultivated land is key to achieving self-sufficiency.

He reaffirmed government’s commitment to industrialisation and continued support for industrialists, including fiscal incentives and funding efforts.

“We are not there yet, but there is commitment; there is push, and the government itself is serious about industrialisation,” he noted.

The Group Chief Executive Officer of Sunti Golden Sugar Estate, Mr Boye Olusanya, disclosed that the company currently cultivates about 6,600 hectares, producing about 20,000 tonnes of sugar, with plans to scale up.

He, therefore, called for policy consistency and better access to funding to actualise the dream.

“Today, we have under cultivation 6,600 hectares and we are producing just under 20,000 tonnes of sugar.

“Our intent is to get to 290,000 tonnes by the end of 2031,” he said.

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The NBS said this in its Commodity Price Indices and Terms of Trade for Q4 2025 released in Abuja on Tuesday.

It said that the increase could be attributed to changes in the import prices of paper making material, paper and paperboard articles.

“Others are textiles and textile articles, mineral products, and articles of stone, plaster, cement, asbestos, mica.”

The NBS said that the All-commodity group export price index on average also increased by 0.12 per cent points in Q4 2025.

It said that the increase was majorly attributed to an increase in the prices of miscellaneous manufactured articles; vehicles, aircraft and parts thereof; amd vessels, among others.

“Others are base metals and articles of base metals; plastic, rubber and articles thereof.”

The bureau said that the All Products Terms Of Trade (TOT) index on average increased by 0.01 per cent.

The TOT represents the ratio between a country’s export prices and its import prices.

The NBS said that the All-region group export index increased by 0.12 per cent mainly due to an increase in the rate of price change in exports to all regions except Oceania.

It said that the All-region group import index increased by 0.11 percentage points due to increase in the rate of change in import prices from all regions.

It said that the All-region terms of trade on average increased by 0.01 per cent.

The report said that the major export destinations of Nigeria in Q4 2025 were The Netherlands, India, Spain, France, and Canada.

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The operator said the hike addresses congestion, discourages long-term parking, and restores space for legitimate airport users.

This is contained in a statement by Head of Corporate Communications, Mrs Ajoke Yinka-Olawuyi, on Monday in Lagos.

Yinka-Olawuyi said MMA2 has maintained strong safety and security records among Nigeria’s airport terminals.

She said this is achieved through monitoring, access control, and proactive management of terminal facilities, including the car park.

She said increasing long-stay vehicles have placed additional operational and security pressures on the facility.

“Prolonged parking has created operational challenges and reduced space for legitimate users at the multi-storey car park.

“Over time, the facility has been used for long stays, sometimes days, months or years, reducing availability for passengers,” Yinka-Olawuyi said.

She noted passengers sometimes spend over 30 minutes searching for parking, causing missed flights and delays.

She said congestion also builds around terminal drop-off and pick-up zones, affecting traffic flow and experience.

According to her, the revised tariff aims to discourage long-stay parking and improve turnover for legitimate users.

She said: “The review is not revenue-driven but an operational necessity to restore order, reduce congestion, and ensure safety and efficiency.”

Saloon cars now pay N3,500 first hour, up from N2,500, with N2,500 for subsequent hours.

SUVs now pay N4,000 first hour, up from N3,500, with N2,500 subsequent hours; buses N20,000; overnight N50,000; lost tickets N25,000.

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The Kaduna State Chairman TOPAN, Mr Rabiu Zuntu, disclosed this in an interview with our correspondent on Friday in Lagos.

Zuntu noted that although there is no particular time for tomatoes planting season up north, seasonal weather variations can affect the production of the produce.

“Although we can plant tomatoes all-year-round, we cannot assure quality harvest all-year-round.

“Some farmers are harvesting now, while others are transplanting, and others are harvesting.

“Tomatoes are still available for sale but the price of the produce is gradually on the increase.

“Come May/June, the prices of tomatoes will be very expensive, so now is a good time to stock up the produce. There’s always a scarcity within that period.

“This is because of the nature of the weather in the north around that period, the weather is usually very hot and tomatoes cannot resist such hot temperature,” he said.

Zuntu said the price of tomatoes have started rising up in the north.

“A 50kg rafia basket of tomatoes sells from N20,000 as against N7,000 to N10,000 that was sold earlier in the year.

“While a crate of tomatoes up north is sold between N10,000 and N15,000 as against N5,000 to N6,500 sold earlier in the year.

“In most part of Kano State, where there is bumper harvest, they are rounding off their harvest. So, tomato is not that available there and most buyers have turned to where they can find it now, mostly within Kaduna State and some parts of Plateau State.

“So, that’s why the supply has decreased and the tomato supply and cost is determined by the law of demand and supply,” he said.

Our correspondent reports that a 50kg basket of tomatoes in Lagos, at the moment, sells between N40,000 and N60,000 depending on the size and quality.

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Atanda made this known in a statement on Thursday following his participation at the National GovTech Policy Roundtable 2026.

He said Nigeria’s private sector had played a critical role in advancing digital governance.

Atanda noted that locally developed solutions had continued to operate at scale across both public and private sectors.

Clarifying perceptions about Remita’s role, Atanda said the company’s engagement with the government represented only a fraction of its broader operations.

“Many assume that our strength lies primarily within government, but that is not entirely accurate. It simply represents one expression of the breadth of what we do.

“We are a wholly privately owned organisation, yet we have found ourselves contributing meaningfully to Nigeria’s growth by leveraging technology as a purely private sector entity,” he said.

Building on this, he noted that Nigeria’s digital transformation journey had been significantly shaped by indigenous innovation, stressing that local firms had consistently delivered critical infrastructure that underpins governance and service delivery.

To illustrate this, Atanda referenced the Integrated Payroll and Personnel Information System as a defining moment in Nigeria’s GovTech evolution.

He explained that the project, conceived in 2006 and funded by the World Bank through an international bidding process, was won by SystemSpecs, demonstrating the global competitiveness of Nigerian firms.

“At a time when it was opened to global competition, a Nigerian company emerged successful in that process.

“This is a success story that Nigeria itself has not sufficiently told, in spite of the fact that it has, over time, outperformed leading international organisations on that same project,” he said.

He added that the project was executed under fully international procurement standards and denominated in dollars, further reinforcing the capacity of indigenous companies to deliver on complex, large-scale systems.

According to Atanda, such examples show that some of Nigeria’s most critical digital public infrastructure have been locally conceived, developed and sustained over time.

Atanda noted that while Remita was widely recognised for powering the Treasury Single Account, its evolution reflects a platform with a much broader footprint.

He noted that the company provides payments, collections and financial services infrastructure across multiple sectors, supporting efficiency and transparency in both government and private institutions.

Atanda reiterated that Nigeria’s digital future would depend on sustained support for indigenous innovation, stronger private sector leadership and continued investment in scalable technology infrastructure

Also speaking, the Deputy Speaker of the House of Representatives, Mr Benjamin Kalu, underscored the importance of impact-driven digital transformation.

Kalu said the success of digital governance should be measured not by technology deployment, but by how accessible, responsive and trustworthy government becomes to citizens.

“The measure of digital-first governance will not be found in the servers we procure or the applications we launch, but in whether government is accessible, responsive, trustworthy and just,” he said.

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NPA Managing Director, Dr Abubakar Dantsoho, disclosed this in a statement issued on Tuesday by Mr Ikechukwu Onyemekara, General Manager (Corporate Communications and Strategy).

Dantsoho spoke at a stakeholders’ engagement organised by the Ministry of Marine and Blue Economy in Lagos.

He said in spite of the Middle East conflict affecting global vessel movement, Nigeria remained resilient in supplying petroleum products locally and for export.

He attributed the achievement to the implementation of the One-Stop-Shop (OSS), introduced by the Minister of Marine and Blue Economy, Dr Adegboyega Oyetola.

According to him, the OSS ensures all stakeholders operating at the Dangote Refinery align seamlessly in their operations.

“In many countries today, workers operate remotely, while others face energy queues, but Nigeria has not experienced such disruptions.

“As a matter of fact, in the past month, we exported over 500,000 tonnes of petroleum products from Dangote Refinery to African countries.

“The exports are handled by ships, supported by the NPA’s capacity in port and cargo operations,” Dantsoho said.

He said the policies driving the achievement were approved by the minister, including the OSS hosted by the NPA.

“This system operates similarly to the National Single Window, ensuring efficiency and coordination,” he said.

Dantsoho noted that all stakeholders now operate in sync with Dangote Refinery’s distribution framework.

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The Managing Director/Chief Executive Officer, Eterna Plc, Mr Olumide Adeosun, disclosed this in a statement on Tuesday in Lagos.

Adeosun said the company recorded revenue of N302.37 billion for the period, while profit before tax rose to N7.27 billion, representing a 52.9 per cent increase from N4.48 billion in 2024.

He said profit after tax stood at N2.92 billion, with earnings per share of N2.24.

According to him, total assets increased to N92.19 billion, driven by strong inventory growth, while shareholders’ funds rose to N7.77 billion, reflecting improved retained earnings.

“The performance reflects the company’s continued focus on operational efficiency, improved cost management and strategic positioning across its fuels, lubricants and gas businesses,” he said.

Adeosun said the Board of Directors had proposed a dividend of 50 kobo per share for the 2025 financial year, subject to shareholders’ approval at the Annual General Meeting.

He added that the company would continue to focus on operational efficiency, sustainable asset expansion and strengthening its market position.

According to him, Eterna Plc remains committed to driving growth through retail expansion, broader product offerings and customer-focused initiatives.

Adeosun said the full audited financial statements for the period are available on the company’s website.

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The bank in its audited financial results, filed at the Nigerian Exchange Ltd. on Tuesday in Lagos, showed that profit after tax rose marginally to N1.04 trillion in 2025 from N1.03 trillion in the previous year, supported by lower tax expenses.

Taxation declined to N222.82 billion in 2025 from N293.96 billion in 2024.

Gross earnings increased to N4.19 trillion from N3.97 trillion, reflecting growth in revenue.

However, total comprehensive income fell to N1.11 trillion in 2025 from N1.52 trillion in 2024, due to a foreign exchange translation loss of N82.13 billion, compared with a gain of N220.29 billion recorded in the previous year.

Fair value gains on equity instruments also declined to N7.38 billion from N151.01 billion in 2024.

Earnings per share dropped to N25.32 in 2025 from N32.87 recorded in 2024.

Total assets rose to N31.46 trillion in 2025, compared with N29.96 trillion in the previous year, indicating continued expansion.

Retained earnings increased to N2.81 trillion from N2.02 trillion, while other reserves rose to N1.50 trillion from N1.40 trillion.

Consequently, total shareholders’ equity grew to N4.92 trillion in 2025 from N4.03 trillion in 2024.

The group proposed a final dividend of N8.75 per share, up from N4.00 in 2024, bringing the total dividend for the 2025 financial year to N10.00 per share, including an interim dividend of N1.25.

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“Restoring damaged energy assets to full capacity is both costly and takes a long time, thereby affecting overall supply availability,” the countries said in a joint statement after an online meeting.

They also highlighted the “critical importance of safeguarding international maritime routes to ensure the uninterrupted flow of energy” – a reference to the Strait of Hormuz, which Iran has effectively blocked in reaction to U.S.-Israeli attacks

The group – consisting of Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman – said they would increase oil production in May by 206,000 barrels per day.

Given the blockade of the Strait of Hormuz, through which around 20 per cent of global oil trade passes, the move is more symbolic than practical, as the oil market faces a supply problem rather than a production shortage.

Much of the available oil supply is currently going to Asia, namely China, Japan and South Korea, according to Carsten Fritsch, an analyst at Germany’s Commerzbank.

“Asia is currently sucking everything up like a vacuum cleaner,” he said.

U.S. President Donald Trump has urged countries facing shortages to source oil from the United States.

However, the impact of this on global prices remains uncertain, as they are determined by global supply, which has been restricted due to the war.

According to figures from the International Energy Agency in March, countries in the Gulf region have reduced their daily oil production by at least 10 million barrels, or nearly 10 per cent of global demand, citing limited storage capacity for oil that cannot pass through the Strait of Hormuz.

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