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Nairametrics Launches Nigeria Mega Corporate Index (NMX-100) to Track Top Companies

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Nairametrics Launches Nigeria Mega Corporate Index (NMX-100) to Track Top Companies

Lagos — Nairametrics has officially unveiled the Nigeria Mega Corporate Index 100 (NMX-100), a new data-driven platform that ranks Nigerian companies generating at least N100 billion in annual revenue.

The index, built on the latest audited financial statements, provides a transparent and reliable snapshot of corporate performance across Nigeria’s leading sectors. It offers easy access to detailed financial information for over 100 top companies, including key performance indicators such as revenue, profit, dividends, and other critical metrics.

Designed for investors, business leaders, and analysts, the NMX-100 aims to be a one-stop resource for financial insights, enabling informed decision-making and fostering greater transparency in the Nigerian corporate landscape.

This initiative reflects a growing effort to highlight corporate performance and strengthen accountability among Nigeria’s largest businesses.

AfDB Approves $100 Million Loan to Boost Sustainable Infrastructure in Africa

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AfDB Approves $100 Million Loan to Boost Sustainable Infrastructure in Africa

Abidjan — The African Development Bank (AfDB) has approved a $100 million loan to the Emerging Africa and Asia Infrastructure Fund (EAAIF) to support sustainable infrastructure development across the continent.

According to a statement published on the bank’s website on Friday, the financing is intended to unlock private capital and fund transformative projects in renewable energy, transport, digital connectivity, and other critical sectors.

The facility, approved by AfDB’s Board of Directors, is part of the Bank’s broader strategy to address Africa’s infrastructure financing gap and promote resilient, inclusive economic growth.

The loan also forms a component of EAAIF’s debt-raising programme, under which the Fund aims to secure $300 million in long-term capital in 2025 and deploy more than $850 million across Africa and Asia by 2027.

The statement did not disclose specific countries where the projects will be implemented, but the initiative is expected to play a key role in accelerating infrastructure development across the continent.

Rising Healthcare Costs Push Up Insurance Premiums Across Nigeria

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Rising Healthcare Costs Push Up Insurance Premiums Across Nigeria

Lagos — Escalating prices of drugs and hospital consumables are reshaping Nigeria’s healthcare financing landscape, prompting hospitals to raise service tariffs and compelling Health Maintenance Organisations (HMOs) to increase premiums across the board.

Industry sources attribute the adjustments to inflationary pressures, rising import costs, and growing operational overheads. The financial strain is increasingly being passed on to consumers, many of whom are struggling to afford quality healthcare.

Between 2024 and 2025, health insurance premiums have surged significantly, with increases ranging from 8% for basic plans to as high as 59% for top-tier coverage. Previously, Nigerians paid annual premiums ranging from N79,500 to N1.379 million; the revised rates now span from N86,500 to N1.939 million.

The steep adjustments reflect an industry-wide restructuring as healthcare providers and insurers adapt to a rapidly rising cost environment, underscoring the urgent need for policies that can make healthcare more affordable and sustainable for Nigerians.

Vodacom Partners with Starlink to Expand Internet Access Across Africa

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Vodacom Partners with Starlink to Expand Internet Access Across Africa

Johannesburg — Vodacom Group has announced a strategic partnership with Elon Musk’s Starlink to enhance internet connectivity across Africa, with a focus on underserved rural areas.

Under the collaboration, Vodacom will integrate Starlink’s satellite backhaul technology into its network infrastructure, improving coverage and service reliability in regions with limited terrestrial connectivity. Additionally, Vodacom will resell Starlink equipment and services to small and medium-sized enterprises (SMEs) and larger enterprises, helping bridge the digital divide across the continent.

The partnership marks a significant step in leveraging satellite technology to expand internet access in Africa, supporting both business growth and digital inclusion initiatives.

Uganda Advances $4 Billion Oil Refinery Project in Partnership with UAE Firm

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Uganda Advances $4 Billion Oil Refinery Project in Partnership with UAE Firm

Kampala — Uganda has signed agreements to move forward with its $4 billion oil refinery project, which will process 60,000 barrels of crude oil per day and include integrated storage, pipelines, and water infrastructure.

The refinery is being developed in collaboration with UAE-based Alpha MBM Investments and is expected to generate substantial employment opportunities, stimulate local industries, and reduce Uganda’s dependence on imported petroleum.

Officials say the project will position Uganda as a net petroleum exporter, enhancing the country’s energy security and supporting broader economic growth.

President Tinubu Renews Brigadier-General Marwa’s Tenure as NDLEA Chairman

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President Tinubu Renews Brigadier-General Marwa’s Tenure as NDLEA Chairman

Abuja — President Bola Ahmed Tinubu has renewed the appointment of Brigadier-General Mohammed Buba Marwa (rtd) as Chairman of the National Drug Law Enforcement Agency (NDLEA) for a second five-year term, the Presidency announced on November 14, 2025.

The confirmation was made in a statement by Bayo Onanuga, Special Adviser to the President on Information and Strategy. With this reappointment, Marwa will continue to lead the agency until 2031, reinforcing continuity in Nigeria’s fight against drug trafficking and substance abuse.

Under his leadership, the NDLEA has intensified anti-drug operations and public awareness campaigns, making the agency a central pillar in the nation’s efforts to curb illegal drug activities.

 

THE ANNIVERSARY COLLECTION: Lanre DaSilva Celebrates Twenty Years of Timeless Elegance

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THE ANNIVERSARY COLLECTION: Lanre DaSilva Celebrates Twenty Years of Timeless Elegance
This November, influential designer Lanre Da Silva Ajayi (LDA) celebrates 20 years of defining fashion and creativity by unveiling her Spring/Summer 2026 (SS26) line, “The Anniversary Collection,” at a grand showcase in Lagos on November 16th.

For two decades, Lanre Da Silva Ajayi has remained a trailblazer in African fashion, celebrated for her timeless elegance and unique ability to blend vintage glamour with bold African identity. Her journey, from her 2005 debut to international features, has been a masterclass in consistency and reinvention.

The high-profile anniversary event will feature celebrities and models gracing the runway, alongside live performances by two surprise musical acts, creating an unforgettable blend of fashion and art. The production will be led by Elizabeth Elohor, Founder of Beth Model Management, whose creative direction ensures a world-class experience.

Dr

In line with her passion for mentorship, LDA will also relaunch the Runway Renaissance, supporting three emerging designers who are redefining sustainability and craftsmanship in Africa.

Reflecting on her journey, Lanre Da Silva Ajayi shared: “Fashion has never been just fabric and thread for me. Clothes hold memories, the scent of celebrations, and the pulse of our ambitions. They are silent witnesses to who we are and who we’re becoming.”

The collection features LDA’s signature grandeur, sculptural sleeves, flowing silhouettes, and meticulous detailing. Traditional adire fabrics meet modern textures like Chantilly lace, brought to life in a rich color story: emerald green for growth, gold for triumph, and sunlit yellow for joy.

This milestone celebration is proudly supported by the Lagos State Ministry of Tourism, Arts and Culture, Johnnie Walker Blue Label, Bank of Industry, Standard Chartered Bank, Heineken, and Privé Events;  brands that share in LDA’s vision of creativity, craftsmanship, and cultural excellence.

Speaking on the brand’s partnership with LDA, Joan Odafe-Ejumedia, Marketing Manager, Reserve Scotch (Diageo South, West & Central Africa), shared:

“”Johnnie Walker Blue Label is a blend of rare craft and mastery, an enduring pursuit of excellence. This 20th Anniversary celebration is the perfect convergence of two master artisans. We are profoundly honored to partner with Lanre Da Silva Ajayi – a true visionary whose two decades of defining African couture mirror our own commitment to rarity, precision, and the creation of timeless legacies.”

Two decades later, Lanre Da Silva Ajayi remains not just a designer, but a storyteller shaping how Africa expresses beauty, confidence, and culture through fashion.

ABOUT LDA

Lanre Da Silva Ajayi (LDA) is one of Africa’s foremost luxury couturiers and a true pioneer whose work defines modern Nigerian fashion. Her eponymous label, launched in 2005, specialises in couture women’s wear, ready-to-wear collections, jewelry, and hairpieces. LDA is internationally recognised for her signature blend of 1940s vintage glamour with bold African identity, earning her features in prestigious publications like Vogue and retail placement in stores such as Dolce & Gabbana’s Spiga 2 Concept Store in Milan.

Find LDA

Website – https://lanredasilvaajayi.com.ng/

Instagram –@lanredasilvaajayi

Email –  lanredasilva7@gmail.com

 

Press Inquiries:

  • We are open to interviews and coverage requests- this can be emailed to the PR team who will make sure the appropriate persons receive: Elizabeth Osho hello@somesolutions.online

 

 

 

Federal Government Announces N287 Billion Investment in Gas Infrastructure Through MDGIF

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The Federal Government has revealed that the Midstream and Downstream Gas Infrastructure Fund (MDGIF) has committed over N287 billion to key gas infrastructure projects nationwide, in a major push to expand energy access, attract private investment, and strengthen Nigeria’s industrial base in line with the Petroleum Industry Act (PIA).

The disclosure was made in Abuja by the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr. Farouk Ahmed, during the maiden edition of the Energy Correspondents Association of Nigeria (ECAN) Conference, held to mark four years of the PIA. Ahmed was represented by the Authority’s Legal Adviser and Secretary, Dr. Joseph Tolorunse.

According to Ahmed, the MDGIF has so far invested N287 billion across 62 strategic gas infrastructure projects implemented by 16 companies operating within Nigeria’s midstream and downstream value chain. The projects span gas processing, storage, distribution, and other critical infrastructure intended to boost domestic gas utilisation.

He added that the fund’s catalytic role has already begun attracting significant external financing, including an additional $500 million secured through the NMDPRA’s partnership with the African Export-Import Bank (Afreximbank). This partnership, he noted, is accelerating national efforts to unlock the country’s vast gas reserves and support the Federal Government’s gas expansion agenda.

Ahmed emphasised that the MDGIF was designed under the PIA to stimulate private-sector investment in midstream and downstream gas ventures, noting that the current level of financial commitment reflects growing investor confidence in Nigeria’s energy reforms.

He stated that expanding gas infrastructure remains central to improving nationwide energy access, supporting industrial growth, enhancing job creation, and positioning Nigeria as a leading regional gas hub.

Ogun State Targets N500 Billion IGR to Finance 2026 Fiscal Plan

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Ogun State Targets N500 Billion IGR to Finance 2026 Fiscal Plan

French energy giant TotalEnergies is reportedly preparing to divest a portion of its renewable energy assets in Asia as part of a broader strategy to reduce its debt and streamline its portfolio.

According to industry sources, the company has already appointed a financial adviser to manage the transaction and has begun reaching out to potential buyers across the region. The assets being considered for sale span select solar and wind projects within TotalEnergies’ rapidly expanding Asian renewables portfolio.

While the exact valuation has not been disclosed, early estimates suggest the assets could be worth several hundred million dollars, depending on market conditions and investor interest.

The planned divestment aligns with TotalEnergies’ ongoing efforts to rebalance its global asset base, strengthen its financial position, and channel more capital into high-growth, high-return projects—both in renewable and conventional energy segments.

The move also reflects a growing trend among major global energy companies seeking to optimize their clean-energy investments while maintaining financial flexibility amid shifting economic conditions.

Further details are expected as discussions progress and potential bidders complete their initial evaluations.

TotalEnergies Set to Sell Part of Its Asian Renewable Assets to Reduce Debt

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TotalEnergies Set to Sell Part of Its Asian Renewable Assets to Reduce Debt

French energy giant TotalEnergies is reportedly preparing to divest a portion of its renewable energy assets in Asia as part of a broader strategy to reduce its debt and streamline its portfolio.

According to industry sources, the company has already appointed a financial adviser to manage the transaction and has begun reaching out to potential buyers across the region. The assets being considered for sale span select solar and wind projects within TotalEnergies’ rapidly expanding Asian renewables portfolio.

While the exact valuation has not been disclosed, early estimates suggest the assets could be worth several hundred million dollars, depending on market conditions and investor interest.

The planned divestment aligns with TotalEnergies’ ongoing efforts to rebalance its global asset base, strengthen its financial position, and channel more capital into high-growth, high-return projects—both in renewable and conventional energy segments.

The move also reflects a growing trend among major global energy companies seeking to optimize their clean-energy investments while maintaining financial flexibility amid shifting economic conditions.

Further details are expected as discussions progress and potential bidders complete their initial evaluations.

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