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Revenue

Revenue

Finance & Economy·News·Nigeria·Top Stories

Lagos Leads Nigerian States, FCT with ₦1.77trn IGR in 2025

September 24, 2026

Nigeria’s 36 states and the Federal Capital Territory generated a combined ₦5.15 trillion in internally generated revenue (IGR) in 2025, up 40.93% from ₦3.65 trillion in 2024, according to the National Bureau

Africa·Business News·News

Kenya Extends VAT Refund wait for Bad Debts to Three Years

September 23, 2026

Kenyan businesses will have to wait three years before applying for a value-added tax refund on qualifying unpaid debts, up from two years, under changes introduced by the Finance Act 2026, the

Business News·Top Stories

UAC Nigeria Overcomes Soaring Expenses To Post N34bn Profit

September 7, 2026

UAC Nigeria generated N364.97 billion in revenue between January and June 2026, surpassing the N110.40 billion recorded in the first half (H1) of 2025, indicating a 230.57 percent growth. The same was

Preline Limited Splashes N17.55 billion On Eterna Plc’s Shares

Business News·Top Stories

Eterna Grows Profit By 388% — Despite N203m FX Loss In H1 2026

September 4, 2026

Eterna Plc grew its revenue to N217.31 billion in the first half (H1) of 2026, exceeding the N157.65 billion generated in H1 2025, representing a 37.84 percent growth. In the oil company’s

Business News·Top Stories

Caverton Offshore Records N8bn Loss As Revenue Drops 10%

September 2, 2026

Caverton Offshore Support Group recorded a 10.88 percent decline in its revenue in the first half (H1) of 2026, dropping to N14.68 billion, below the N16.47 billion generated in the corresponding period

FX Loss, Decline In Investment Earnings... Why Mutual Benefits' Profit Fell 16% In H1 2026

Business News·Top Stories

FX Loss, Decline In Investment Earnings… Why Mutual Benefits’ Profit Fell 16% In H1 2026

August 28, 2026

Mutual Benefits Assurance’s revenue grew by 3 percent to N42.25 billion in the first half (H1) of 2026, exceeding the N41.19 billion generated in H1 2025. The company’s insurance service expense outstripped

Fortis Global Insurance Back To Era Of Unprofitability

Business News·Top Stories

Why Fortis Global Suffered N2.59bn Loss In H1 — Despite Revenue Rising By Over 1,000%

August 26, 2026

Fortis Global Insurance generated revenue of N1.09 billion between the first quarter (Q1) and the second quarter (Q2) of 2026, surpassing the N59.56 million recorded during the corresponding period the year before.

Production Cost Gulped More Than Half Of Fidson's Revenue In 2025

Business News·Top Stories

Fidson Healthcare Records N74bn Revenue — Loses 56% Of Turnover To Cost Of Production

August 24, 2026

Fidson Healthcare’s revenue reached N74.48 billion in the first half (H1) of 2026, compared to the N62.64 billion generated by the pharmaceutical company in H1 2025, representing an 18.90 percent growth. The

Why Geregu Power's Profit Dropped From N20.27bn To N2.50bn In H1 2026

Business News·Top Stories

Why Geregu Power’s Profit Dropped From N20.27bn To N2.50bn In H1 2026

August 21, 2026

Geregu Power’s revenue dropped to N18.65 billion in the first half (H1) of 2026, failing to achieve the N87.63 billion generated in H1 2025, indicating a 78.71 percent decline. According to analysis

Jaiz Bank Generates N29bn From Financing Contracts, N25bn From Investment In H1 2026

Business News·Top Stories

Jaiz Bank Generates N29bn From Financing Contracts, N25bn From Investment In H1 2026

August 20, 2026

Over N57.94 billion in revenue was generated by Jaiz Bank in the first half (H1) of 2026, exceeding the N45.54 billion recorded in the corresponding period in 2025, representing a 27.23 percent

Seplat Plans $250M Gas Plant In Delta State, Focuses On Energy

Business News·Top Stories

Revenue Surge, Falling Operational Costs… How Seplat Achieved Over 400% Profit Growth In H1 2026

August 19, 2026

Seplat Energy generated N2.50 trillion in revenue in the first half (H1) of 2026, rising by 15.48 percent above the N2.16 trillion turnover recorded in the corresponding period in 2025. In the

Industry Review: CAP Losing Grip Over Paint Industry As Meyer, Berger Expand Market Share

Business News·Top Stories

Industry Review: CAP Losing Grip Over Paint Industry As Meyer, Berger Expand Market Share

August 18, 2026

There were changes in the market share of the paint industry in the first half (H1) of 2026, with one company recording a decline, two raising theirs and one producer’s share remaining

Industry Review: Dangote Cement Losing Market Share To BUA Cement, HBM Nigeria

Business News·Top Stories

Industry Review: Dangote Cement Losing Market Share To BUA Cement, HBM Nigeria

August 17, 2026

The cement industry recorded N3.92 trillion in revenue in the first half (H1) of 2026, an improvement of 23.74 percent when compared to the turnover of N3.16 trillion generated in H1 2025.

AIICO's Revenue Rises By 2%, Net FX Loss Increases To N1.79bn

Business News·Top Stories

AIICO’s Revenue Rises By 2%, Net FX Loss Increases To N1.79bn

August 14, 2026

The first half (H1) of 2026 ended with AIICO Insurance recording N104.71 billion in gross written premium, exceeding the N102.68 billion reported in H1 2025, indicating an increase of 2 percent. AIICO

Int'l Breweries Losing Market Share To Rivals As Nigerians Spend N1.44trn On Drinks In Six Months

Business News·Top Stories

Int’l Breweries Losing Market Share To Rivals As Nigerians Spend N1.44trn On Drinks In Six Months

August 13, 2026

Nigerians spent over N1.44 trillion on alcohol and non-alcoholic drinks between January and June 2026, up 8.59 percent when compared to the N1.33 trillion revenue generated by brewers in the first six

How Nascon Grew Profit By 27% After Slow Revenue Growth In H1 2026

Business News·Top Stories

How Nascon Grew Profit By 27% After Slow Revenue Growth In H1 2026

August 11, 2026

In the first half (H1) of 2026, Nascon Allied Industries recorded a marginal increase in its revenue, which rose by 3.84 percent, from N78,15 billion in H1 2025 to N81,15 billion. Prime

Business News·Top Stories

From N2bn Profit To N8bn Loss… How Caverton Became Unprofitable In H1 2026

August 10, 2026

Caverton Offshore Support Group Plc became unprofitable in the first half (H1) of 2026, following a significant decline in the company’s revenue and surge in expenses. According to analysis of the company’s

Oando Plc's Share Price Rise By %1,286% In One Year, Market Cap Crosses N1trn

Business News·Top Stories

Oando’s Pretax Loss Declines To N32bn As Cost Pressure On Revenue Drops To 95%

August 7, 2026

Oando Plc reduced its post-tax loss in the first half (H1) of 2026 as the company’s revenue rose faster than the cost of sales and the firm cut other expenses. According to

BUA Foods Cuts Costs To Grow Profit By 14% --- After Revenue Dropped To N765bn

Business News·Top Stories

BUA Foods Cuts Costs To Grow Profit By 14% — After Revenue Dropped To N765bn

August 5, 2026

BUA Foods failed to replicate the N912.51 billion revenue generated in the first half of 2025, as the company earned N765.11 billion in turnover in the corresponding period in 2026. Analysis of

Tax Burden, Rising Operating Costs Cap Infinity Trust’s H1 Profit Growth At 28%

Business News·Top Stories

Tax Burden, Rising Operating Costs Cap Infinity Trust’s H1 Profit Growth At 28%

August 4, 2026

Infinity Trust Mortgage Bank reported N4.03 billion in revenue in the first half (H1) of 2026, exceeding the N2.79 billion posted in H1 2025 by 44.40 percent. The company also grew interest

Business News·Top Stories

MTN Fintech Revenue Plummets By 72% Over Airtime, Data Credit Service Suspension

July 31, 2026

MTN Nigeria overcame a twofold decline in its turnover from financial technology (fintech) services — driven by the temporary suspension of its airtime and data credit service — with double-digit growth in

FX Loss, Decline In Investment Earnings... Why Mutual Benefits' Profit Fell 16% In H1 2026

Business News·Top Stories

Why Mutual Benefits Assurance’s Profit Dropped To N4bn — Despite 6% Increase In Revenue

July 15, 2026

The revenue of Mutual Benefits Assurance increased to N20,39 billion in the first quarter (Q1) of 2026, surpassing the N19.32 billion reported in the same period in 2025. While revenue increased by

My Takeaways From Access Holdings AGM

Business News·Top Stories

Access Holdings’ Revenue From Lending, Investments Drops To N895bn

July 14, 2026

Access Holdings recorded N895.03 billion in interest income, covering lending and investments, in the first quarter (Q1) of 2026, failing to replicate the N980.67 billion earned in Q1 2025, representing an 8.73

Business News·Top Stories

Tax Burden Pushes Veritas Kapital’s Profit Down To N1.53bn

July 13, 2026

In the first quarter (Q1) of 2026, Veritas Kapital Assurance suffered a decline in gross premium, after recording N5.80 billion, below the N6.86 billion recorded during the corresponding period in 2025. Veritas

Conoil Plc's Shareholders Approve N1.734 Billion Dividend Payout for 2022

Business News·Top Stories

Conoil Tames Expenses To Prevent Revenue Decline From Affecting Profit

July 10, 2026

Conoil generated N71.45 billion in revenue between January and March 2026, compared to the N79.25 billion reported in the corresponding period in 2025. According to an analysis of the company’s unaudited financial

Universal Insurance's Revenue Grows By 48%, Profit Rises To N1.99bn

Business News·Top Stories

Universal Insurance’s Revenue Grows By 48%, Profit Rises To N1.99bn

July 8, 2026

The Universal Insurance Plc generated N20.43 billion in revenue in 2025, exceeding the N13.76 billion reported in 2024, indicating an increase of 48.49 percent. Also, insurance service expense grew by 68.15 percent,

Business News·Top Stories

PZ Cussons Grows Revenue To N260bn, Profit Rises By 364%

July 7, 2026

PZ Cussons recorded N260.19 billion in revenue between June 2025 and May 2026, surpassing the N212.63 billion generated in the corresponding period the year before. According to an analysis of PZ Cussons‘

Fidelity Bank Kicks Off N127 Billion Public Offer, Rights Issue Today

Cost Of Funds, Credit Loss… Why Fidelity Bank’s Profit Crashed By 12%

July 1, 2026

Fidelity Bank saw a 37.89 percent growth in its topline in the first quarter (Q1) of 2026, after securing N434.94 billion in revenue, compared to the N315.42 billion generated between January and

Business News·Top Stories

Morison Industries No Longer Operating At A Loss — After Strong Topline Growth

June 30, 2026

Morison Industries Plc generated N513.76 million in revenue between January and December of 2025, outstripping the N287.17 million recorded in 2024, indicating an increase of 78.90 percent. Turnover growth exceeded that of

Business News·Top Stories

Legend Internet Depending On Loan Amid Declining Revenue

June 29, 2026

The burden of debt on Legend Internet’s finances is rising as the company turns to bank loans and commercial papers to make funds available for its operations amid a decline in revenue.

FCMB Borrows N20.68bn To Protect Against Insolvency After Silicon Valley Bank Collapse

Business News·Top Stories

FCMB Earnings Rose To N252bn In Q1 2026, Profit Up Over 100%

The gross earnings of First City Monument Bank (FCMB) Group Plc increased by 26.72 percent to N320,21 billion in the first quarter (Q1) of 2026, surpassing the N252.69 billion generated in the same period in 2025. Analysis of the company’s interim unaudited

June 26, 2026

Conoil Plc's Shareholders Approve N1.734 Billion Dividend Payout for 2022

Business News·Top Stories

Conoil’s Profit Crashes By 75% Amid Declining Revenue, Loan Burden

Conoil Plc, an oil and gas company, suffered a significant decline in its profit following a decline in revenue and loan burden. The oil and gas company earned N301.72 billion in revenue from its services in 2025, a 6.6 percent decline, according

June 25, 2026

Cornerstone Insurance's Profit Declines As Firm Fails To Curtail Rising Expenses

Business News·Top Stories

Cornerstone Insurance’s Profit Declines As Firm Fails To Curtail Rising Expenses

Cornerstone Insurance revenue increased to N14 billion in the first quarter (Q1) of 2026, up from N11 billion generated between January and March 2025, representing a 25.20 percent growth. According to Prime Business Africa’s (PBA) analysis of the company’s financial statement for

June 22, 2026

Business News·Top Stories

Aradel Holdings’ Expenses Rising Faster Than Revenue

Aradel Holdings profit is on an upward trend, but the company has a cost problem that might hurt its bottom line in the long term. In its unaudited consolidated and separate financial statements for the year ended December 31, 2025, Aradel Holdings

June 10, 2026

VFD Group Takes Out N6.82bn From Investment In Abbey Mortgage Bank

Business News·Top Stories

Abbey Mortgage Bank Earns N6.71bn From Interest Income, Profit Rises Threefold

In the first three months of 2026, Abbey Mortgage Bank recorded N6.71 billion in interest income, exceeding the N3.68 billion generated in the first quarter of 2025, reflecting an 82.28 percent increase. However, Prime Business Africa’s (PBA) analysis showed that interest expense

June 9, 2026

Business News·Top Stories

Fortis Global Insurance Is Running Out Of Cash As Firm’s Loss Increases By 452%

Fortis Global Insurance’s revenue increased by 1,322 percent in the first quarter (Q1) of 2026 to N445.97 million, compared to the N31.36 million generated between January and March 2025. Analysis of the company’s financial statements for the first quarter ended March 31,

June 8, 2026

Financial Expert Says Stable Forex Regime Will trigger Nigerian Breweries, Others’ Return To Profitability In 2024

Business News·Top Stories

Lower Tax, Declining Finance Cost Helps Nigerian Breweries Overcome Rising Production, Distribution Expenses

The Nigerian Breweries’ revenue grew by 7.65 percent to N413.01 billion between January and March 2026, surpassing the N383.63 billion recorded in the first quarter (Q1) of 2025. To generate the revenue, Nigerian Breweries expended N233.16 billion on production, according to the

June 5, 2026

AIICO's Revenue Rises By 2%, Net FX Loss Increases To N1.79bn

Business News·Top Stories

AIICO Insurance Battling With Declining Revenue, Rising Expenses, Investment Contract Loss

Between January and March 2026, the gross written premium recorded by AIICO Insurance Plc increased by 14 percent to N62.57 billion, compared to the N54.81 billion reported in Q1 2025. However, analysis of the insurer’s unaudited consolidated and separate financial statements for

June 4, 2026

Preline Limited Splashes N17.55 billion On Eterna Plc’s Shares

Business News·Top Stories

Eterna’s Revenue Drops To N70.51bn As Production Cost Gulps 91% Of Turnover

The revenue of Eterna Plc declined to N70.51 billion in the first quarter (Q1) of 2026, below the N73.27 billion generated in the corresponding period in 2025, representing a 3.76 percent decrease. According to Prime Business Africa’s (PBA) analysis of the company’s

June 3, 2026

Jaiz Bank Generates N29bn From Financing Contracts, N25bn From Investment In H1 2026

Business News·Top Stories

Jaiz Bank Grows Profit By 14% — Despite Commission Earnings Declining By 31%

Jaiz Bank generated N14.89 billion from financing contracts in the first quarter (Q1) of 2026, up by 52.87 percent when compared to the N9.74 billion recorded in Q1 2025. Analysis of the company’s unaudited financial statements for the period ended March 31,

May 29, 2026

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India-New Zealand Free Trade Agreement to Take Effect on Oct. 20

India and New Zealand’s free trade agreement (FTA) will take

UBA marina house

UBA Opens Subscription Channel for Dangote Refinery IPO, Invites Investors to Participate

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has

NGX

Top 5 Best-Performing Industrial Goods Stocks In Q1 2026

Shareholders in Nigeria’s industrial goods sector recorded massive returns in

Naira Weakens Against Dollar, Gains On Pound, Euro In Official Market

On Thursday, the official foreign exchange (FX) rate for the

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