The Managing Director and Chief Executive Officer of Lovonus Microfinance Bank, Mr. Adeola Ayibiowu, has said that microfinance banks (MFBs) remain the only banking option for millions of Nigerians, especially …
Radarr Africa Business Desk
Radarr Africa Business Desk
The Radarr Africa Business Desk reports daily on companies, markets, banking, energy, technology and policy across Nigeria and Africa. Stories are reviewed and edited by The Radarr Africa Editorial Team in Lagos. Story tips and corrections: business@radarr.africa.
- Banking, Finance & InvestmentEconomyFinance & ServicesNigeriaTechnology
British independent energy company, Savannah Energy Plc, has announced its financial results for the year ended 31st December 2024, with a total income of $393.8 million, marking a significant increase …
Crude oil refiners in Nigeria have raised alarm over their inability to access crude oil locally, blaming the situation on oil producers’ preference to sell crude to international traders in …
- Banking, Finance & InvestmentBusinessGOVERNMENTLeadershipMarkets
Femi Otedola Set to Gain Full Control of First Holdco as Otudeko, Odukale Set to Exit.
The prolonged leadership and ownership tussle at First Holdco Plc, the parent company of Nigeria’s oldest financial institution, First Bank of Nigeria, is drawing to a historic close. Multiple sources …
- BusinessEconomyFinance & ServicesManufacturingMarketsNigeria
Morison Industries Cuts Loss to N18.55bn in Q1 2025
Morison Industries Plc has reported a loss of N18.55 billion for the first quarter ended March 31, 2025, an improvement from the N28.46 billion loss it recorded in the same …
Severe flooding has hit homes and businesses in Bachure New Extension, a residential area in Jimeta, Yola North Local Government Area of Adamawa State. The disaster occurred after a heavy …
- BusinessDevelopmentELECTRICITYEnergyEnvironmentInfrastructureNigeria
Off-Grid Power in Lagos Now Bigger Than Nigeria’s National Grid, Says AFC Report
A new report from the Africa Finance Corporation (AFC) has revealed that off-grid and self-generated electricity in Lagos State has now surpassed the entire power output of Nigeria’s national grid. …
- AgricultureEconomyEnergyPolitics
Peter Obi Slams Tinubu’s Economic Reforms as ‘Haphazard’, Says Fuel Subsidy,
Former Labour Party presidential candidate, Peter Obi, has criticised the Bola Tinubu administration for what he described as the disorganised and poorly executed removal of fuel subsidy and the floating …
- AfricaGOVERNMENTWestern Africa
Togo Frees Over 50 Protesters Amid Unrest, Others Remain in Detention.
Authorities in Togo have released 56 individuals arrested during recent anti-government protests, while others remain in custody as investigations continue, the public prosecutor announced on Monday. The protests, which took …
- BusinessGOVERNMENTInfrastructureNigeriaPoliciesReal Estate
Winhomes CEO Fires Back at Works Minister Umahi.
The Chief Executive Officer of Winhomes Global Services Limited, Stella Okengwu, has responded to the Minister of Works, David Umahi, over recent comments made against her company and the controversial …