Matrix Energy Group selected Patrick C. Umunna as its Group Deputy Managing Director starting on Monday, Nov. 3, 2025, positioning him to strengthen operations and enhance financial returns throughout the company's various divisions. The energy firm said Umunna accumulated more than 27 years of expertise spanning banking, corporate oversight and sectors covering petroleum, power and monetary services.
Umunna previously held executive positions at Premium Trust Bank and Polaris Bank Limited, where he oversaw substantial business portfolios while achieving steady expansion. His new responsibilities place him alongside the Group Chief Executive Officer to advance strategic implementation, operational quality and sustainable innovation...
Unilever Nigeria Plc doubled its net profit to 22 billion naira during the nine months ending in September, despite broader economic pressures, according to unaudited financial statements from the consumer products manufacturer. Revenue climbed 50 percent to 155 billion naira from 104 billion naira during the matching stretch of 2024, while gross profit advanced 49 percent to 64 billion naira.
Managing Director Tobi Adeniyi credited the third quarter performance to emphasis on flagship products, optimized product combinations and careful expense control. The executive said the firm remains dedicated to brand spending, supply chain stability and expansion driven by sales volume across its product lineup.
Adeniyi noted the company has...
Access Holdings Plc expanded quarterly revenue by 14.1 percent to reach 3.9 trillion naira during the period ending in September, according to financial statements released by the Nigerian conglomerate. The company brought in 3.4 trillion naira through the same stretch of 2024, with earnings climbing 56.2 percent from the 2.5 trillion naira recorded at midyear.
Revenue from interest jumped 21.1 percent annually to 2.9 trillion naira while net interest earnings surged 48.9 percent to 1.3 trillion naira, up from 845 billion naira one year earlier. Management attributed the performance to loan portfolio growth combined with strategic emphasis on assets generating stronger returns. Quarter over quarter comparisons showed interest revenue...
Nigeria could capture significant value from the $7.7 trillion worldwide halal market, according to Ibraheem Olayinka Adigun, who leads Muassasat Nasrul IIm Wa Da'awat Foundation. The organization president addressed reporters on Wednesday in Lagos while announcing plans for the Muslim Economic Summit 2026, scheduled for Jan. 17-18 at the University of Lagos DIL Main Auditorium.
The gathering aims to stimulate entrepreneurship and skill building among Muslim and non-Muslim Nigerians under the banner Faith, Finance & the Future: Empowering Youths, Women & Businesses for a Prosperous Future. Organizers expect policy advisers, Islamic banking specialists, entrepreneurs, academics and youth innovators to participate in sessions covering...
Intercontinental Distillers Limited honored 290 business partners at its annual recognition ceremony in Lagos while introducing three beverage additions to its product lineup. Managing Director Patrick Anegbe praised distributors as genuine allies whose efforts have maintained the company's market position throughout Nigeria's beverage sector.
The firm launched Chelsea Orange Flavored London Dry Gin, Chelsea Strawberry Flavored London Dry Gin and Ivory Cream Liqueur during the event. Marketing head Mobolaji Alalade said the additions demonstrate efforts to provide consumers with broader choices and enhanced drinking experiences. The Chelsea variants come in 75-centiliter bottles while Ivory Cream Liqueur appears in both 75-centiliter...
Electric utility workers in Lagos disconnected service to landlord Nkeiru Ejiro despite her presentation of receipts showing 70,000 naira in payments, forcing her to contact federal consumer protection officials and company executives before power was restored. The distribution company employees arrived at her Egbeda property demanding bill verification, then cut electricity even after reviewing documentation of her September 2025 payment made one day earlier.
Utility customers across Nigeria face similar treatment from the 11 distribution firms operating nationally, with aggressive billing practices and unauthorized disconnections occurring regularly, according to consumer advocates. Another Lagos resident received a 1 million naira...
Technology executive Babatunde Olusola has built platforms addressing inefficiencies across legal services, financial access, and healthcare delivery through his work spanning three continents. The chief technical officer approaches each sector by identifying where manual processes slow outcomes and designing digital solutions that redirect human effort toward decision-making rather than administrative tasks.
At LawPavilion, Olusola consolidated fragmented case information into unified systems that cut processing times by 40 percent for banking clients. His remittance platform, Wyrr, emerged from observing relatives abroad lose substantial sums to transfer fees, while investment tool GenCapita opened global markets to African...
Global supply networks require leadership capable of engineering continuity rather than managing convenience, as the past 10 years exposed vulnerabilities built into systems designed for efficiency over resilience, according to logistics executive Joe Enobong. The founder of Parcels Mart Solutions argues that disruptions from pandemics to climate events have forced a redesign of trade infrastructure, while Africa positions itself as a growth engine despite logistics costs that add up to 40 percent to business expenses across many economies.
The African Continental Free Trade Area presents opportunities to raise intra-regional commerce from 15 percent to beyond half of total trade by 2035 if physical connectivity matches policy...
Terra Seasoning Cube extended its collaboration with Big Brother Naija beyond the television finale by welcoming housemates from Team Unwrap Joy to the Tropical General Investments Group headquarters in Lagos. The gathering featured Season 10 champion Imisioluwa and marked the start of a corporate social responsibility initiative encouraging participants to develop community projects that reflect the brand's mission of creating happiness.
Executives provided the reality show contestants with an inside look at company operations during the event, which was broadcast live through Instagram to maintain fan engagement after the program ended. The visit represents part of a prearranged strategy to keep the partnership active following the...
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