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Nigeria Can Replicate World-Class Transport Systems- Ngwama

 

 

Organiser of the 2025 Transport Summit, Mrs. Pearl Ngwama, has called for an integrated transport masterplan to propel Nigeria’s growth, stressing that Nigeria’s transport infrastructure must become the engine of national development.

 

Speaking at the opening of the 2025 Transport Summit in Lagos with the theme ‘Nigeria’s Transport Infrastructure: Innovation for a Sustainable Future’, Ngwama said the world’s most advanced nations are built on formidable multimodal transport systems integrating road, rail, air and sea.

 

She said Nigeria’s geographical location and economic diversity offered an unparalleled opportunity to build such networks, linking farms, factories, ports and airports into a seamless logistics chain.

 

“We only have to look around the world to see how advanced nations are built on multimodal transport systems. These systems facilitate trade, improve productivity, reduce costs and drive innovation,” she said.

 

Highlighting Nigeria’s economic momentum, Ngwama noted that maritime trade surged to N130.75 trillion in 2024, marking a 91% increase over 2023. She added that the aviation sector contributed N215.6 billion to GDP, while the rail system recorded sharp increases in both passenger and freight movement in 2025.

“These numbers tell us we have momentum and potential, but also work to do,” she stressed.

Ngwama emphasised that transport infrastructure remains the bloodstream of the economy, asserting that when it flows freely, other sectors thrive, but when blocked, growth is stunted.

 

She urged collaboration among public and private stakeholders to ensure sustainability and innovation drive future transport development.

 

“Our ambition must be to move beyond quick fixes and stop-gap solutions. We must plan, finance and execute systems built to last and adapt as technology evolves,” she added.

 

Ngwama expressed optimism that under the government’s Renewed Hope Agenda, Nigeria could build transport infrastructure capable of transforming trade and connectivity across West and Central Africa.
Ngwama Links ‘Japa Syndrome’ to Poor Infrastructure, Calls for Sustainable Transport Innovation

 

Ngwama also emphasised that Nigeria’s human capital widely regarded as its greatest resource cannot realise its full potential in the absence of robust infrastructure that connects people, markets, and industries.

 

“If transport infrastructure remains underdeveloped, every other sector of agriculture, mining, manufacturing, banking, health, and education will struggle,” she said. “Transport is the bloodstream of the economy. When it flows freely, the organs of the economy thrive; when it is weak, growth is stunted.”

 

She explained that sustainable transport innovation is not merely about constructing new roads or rail lines, but about creating systems that can adapt to new technologies, enhance productivity, and generate local opportunities.

 

“Our young people leave in search of better prospects abroad because we have not created enabling systems at home,” Ngwama said, referring to the rising wave of youth migration known as Japa syndrome. “If we build world-class infrastructure that supports jobs and innovation, our talents will stay and thrive here.”

 

“We must move beyond quick fixes and stop-gap measures,” she added. “We must plan, finance, and execute transport systems that are sustainable, resilient, and built to last.”

Online Poster by — November 1, 2025 in News
Nigeria’s Freight Forwarding Enters New Era with Multimodal Infrastructure Push

 

 

Nigeria’s freight forwarding industry is witnessing a structural revolution driven by massive investment in freight forwarding infrastructure modernization aimed at cutting inefficiencies, improving trade competitiveness, and diversifying cargo movement beyond roads.

 

Presenting a paper at the Nigeria Transport Infrastructure Summit 2025, Chairman of Widescope International Group, Dr. Oluwasegun Musa, represented by Mr. Mark Onuchi, noted that Nigeria’s freight sector has begun a deep transformation through strategic public-private partnerships and multimodal integration designed to enhance efficiency and sustainability.

 

“Nigeria loses an estimated $8 billion annually to logistical inefficiencies,” Dr. Musa stated, citing data from the Lagos Chamber of Commerce and Industry (LCCI). “That’s why modernization is not optional it’s an economic imperative.”

 

A major symbol of this transformation is the $1.5 billion Lekki Deep Sea Port, commissioned in 2023. According to Musa, the facility has already begun to ease congestion at Apapa Port by enabling direct international shipping links and bypassing costly transshipment routes.

 

The port’s 2.7 million TEU annual capacity makes it a crucial hub for Nigeria’s growing container traffic, while its multimodal design linking directly to rail and road networks marks a decisive shift from the country’s outdated mono-modal system that once depended almost entirely on trucks.

 

Studies referenced in Musa’s paper predict the new port could help meet projected container demand increases by 2025 and save shippers up to $300 per forty-foot container, directly boosting Nigeria’s trade competitiveness.

 

Complementing port expansion, Nigeria’s rail infrastructure revival, particularly the Lagos-Kano and Kano-Maradi lines is reshaping how cargo moves inland.

 

“Rail cargo volumes grew by an astonishing 132% in 2018, showing the untapped potential for modal shift,” Musa observed. “Shifting freight from road to rail can reduce emissions by up to 76%.”

Inland water transport (IWT) is also seeing a resurgence after years of neglect. Freight forwarders are increasingly using barges and inland vessels to move containers from Lagos ports, reducing truck congestion and cutting transit times for terminal evacuation.

 

“Water transport not only decongests our roads but provides an environmentally friendly alternative,” Onuchi said, noting that barge operations emit far less carbon per ton-kilometer than road freight.

 

These multimodal improvements are translating into measurable benefits: lower costs, reduced travel time, and greater resilience in supply chains.

 

Musa noted that these investments, coupled with policy reforms by the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) and improved customs procedures, are positioning Nigeria for a major leap on the World Bank’s Logistics Performance Index (LPI) where the country ranked 88th in 2023.

 

However, he cautioned that more investment in regional connectivity, particularly the integration of dry ports and logistics corridors, will be essential to sustain momentum.

 

“What we’re building today is not just infrastructure but the backbone of Nigeria’s trade future,” Musa concluded. “Every new rail line and every barge movement brings us closer to a seamless logistics ecosystem.”

Online Poster by — November 1, 2025 in News
Nigeria’s Freight Forwarding Enters New Era With Multimodal Infrastructure Push

 

Nigeria’s freight forwarding industry is witnessing a structural revolution driven by massive investment in freight forwarding infrastructure modernization aimed at cutting inefficiencies, improving trade competitiveness, and diversifying cargo movement beyond roads.

 

Presenting a paper at the Nigeria Transport Infrastructure Summit 2025, Chairman of Widescope International Group, Dr. Oluwasegun Musa, represented by Mr. Mark Onuchi, noted that Nigeria’s freight sector has begun a deep transformation through strategic public-private partnerships and multimodal integration designed to enhance efficiency and sustainability.

 

“Nigeria loses an estimated $8 billion annually to logistical inefficiencies,” Dr. Musa stated, citing data from the Lagos Chamber of Commerce and Industry (LCCI). “That’s why modernization is not optional it’s an economic imperative.”

 

A major symbol of this transformation is the $1.5 billion Lekki Deep Sea Port, commissioned in 2023. According to Musa, the facility has already begun to ease congestion at Apapa Port by enabling direct international shipping links and bypassing costly transshipment routes.

 

The port’s 2.7 million TEU annual capacity makes it a crucial hub for Nigeria’s growing container traffic, while its multimodal design linking directly to rail and road networks marks a decisive shift from the country’s outdated mono-modal system that once depended almost entirely on trucks.

 

Studies referenced in Musa’s paper predict the new port could help meet projected container demand increases by 2025 and save shippers up to $300 per forty-foot container, directly boosting Nigeria’s trade competitiveness.

 

Complementing port expansion, Nigeria’s rail infrastructure revival, particularly the Lagos-Kano and Kano-Maradi lines is reshaping how cargo moves inland.

 

“Rail cargo volumes grew by an astonishing 132% in 2018, showing the untapped potential for modal shift,” Musa observed. “Shifting freight from road to rail can reduce emissions by up to 76%.”

 

Inland water transport (IWT) is also seeing a resurgence after years of neglect. Freight forwarders are increasingly using barges and inland vessels to move containers from Lagos ports, reducing truck congestion and cutting transit times for terminal evacuation.

 

“Water transport not only decongests our roads but provides an environmentally friendly alternative,” Onuchi said, noting that barge operations emit far less carbon per ton-kilometer than road freight.

 

These multimodal improvements are translating into measurable benefits: lower costs, reduced travel time, and greater resilience in supply chains.

 

Musa noted that these investments, coupled with policy reforms by the Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) and improved customs procedures, are positioning Nigeria for a major leap on the World Bank’s Logistics Performance Index (LPI) where the country ranked 88th in 2023.

 

However, he cautioned that more investment in regional connectivity, particularly the integration of dry ports and logistics corridors, will be essential to sustain momentum.

 

“What we’re building today is not just infrastructure but the backbone of Nigeria’s trade future,” Musa concluded. “Every new rail line and every barge movement brings us closer to a seamless logistics ecosystem.”

Online Poster by — November 1, 2025 in News
Nkerefi Community Lauds Gov Mbah’s Rural Devt Initiative

New Yam Festival, Nkerefi Community Lauds Gov Mbah's Rural Devpt Initiative | Independent Newspaper NigeriaLarryBravo Nwaiwu
The Enuogu-Nkerefi Autonomous Community in Nkanu East Local Government Area of Enugu State came alive on Thursday with colours, rhythmic Abia dance steps, and the rich aroma of roasted yam as the people celebrated their annual Iri Ji, otherwise known as the New Yam Festival. The event was marked by excitement and praises for Governor Peter Mbah’s rural development initiatives, which aim to bridge the economic gap between urban and rural communities in the state.
The ceremony, held at the palace of the traditional ruler, Igwe Emmanuel Onukwube, attracted dignitaries, traditional rulers, government officials, business moguls, as well as sons and daughters of Nkerefi from within and outside the state.
In his address, Igwe Onukwube, the Ogu I of Enuogu Nkerefi, expressed gratitude to God and his people for another successful festival, describing the Iri Ji as a sacred cultural event that strengthens the bond of unity among the Igbo.
He explained that the festival marks the beginning of the harvest season and symbolizes thanksgiving for bountiful yields and divine blessings upon the land.
The monarch, who has reigned for twenty-three years, commended Governor Mbah for his commitment to rural transformation, especially in Nkerefi, where major infrastructure projects have been executed over the past two years.
According to him, the once deplorable road to the community which had forced motorists to pass through Nkanu West, Aninri, and even Ebonyi State before returning to Nkerefi has now received massive attention under the current administration.
“I want to commend our present governor, Barrister Peter Mbah, for his rural development initiatives across the state. We are happy with him for extending this good gesture to us. He will continue to have our support in all he does because he means well for our people. Construction is ongoing, and it is now much easier to drive down to Nkerefi without taking those long, distressing routes,” Igwe Onukwube said.
He further appreciated the governor for appointing indigenes of Nkerefi into strategic government positions, noting that such recognition has given the community a strong voice in the state.
The traditional ruler also lauded the establishment of two Smart Green Schools and two Type-2 Primary Healthcare Centres in Nkerefi, describing them as life-changing projects already impacting the lives of the people.
In his goodwill message, the traditional ruler of Imeoha-Nkerefi Autonomous Community, Igwe Luke Okorie, commended the host community for preserving the age-long festival and applauded Governor Mbah’s administration for the ongoing construction of roads and bridges in Nkerefi.
He noted that Nkerefi, made up of four autonomous communities — Imeoha, Enuogu, Ishienu Amofu, and Ohuani Amofu — remains the food basket of Enugu State, supplying large quantities of yam, garri, rice, and other staple foods to major markets. He urged the government to ensure the speedy completion of ongoing projects.
“This festival has drawn our sons and daughters from far and near to celebrate together. A fortnight ago, my kingdom held its own Iri Ji, and I am here today to witness that of my brothers in Enuogu. It is a time to thank God for His blessings and also to draw government attention to our needs. Governor Mbah has demonstrated uncommon love for our people, and we pray that the ongoing projects will be completed soon to ease the movement of goods and services to other parts of the state,” Igwe Okorie said.
Addressing the mammoth crowd, the Special Assistant to the Governor on Research and Publications, Mr. Josh Ejeh, explained that the recent alignment of the Mbah administration with the All Progressives Congress (APC) was borne out of collective interest and the desire to attract more development projects to Enugu State. He stressed that the decision was not a matter of political expediency but a deliberate step to ensure that Enugu benefits maximally from federal presence and national decision-making.
“The decision to align with the APC is in Enugu’s collective interest. The governor took this decision in consultation with the people, and it is aimed at improving the welfare of Ndi Enugu. Our goal is to position Enugu State strategically so that more federal projects and investments can come our way.
“Already, we have seen what Governor Mbah’s vision is doing in Nkerefi through smart schools, healthcare centres, roads, farm estates, and pipe-borne water projects. These are tangible results of purposeful leadership,” Ejeh stated.
He commended the people of Nkerefi for their continued support for the administration, urging them to remain steadfast and to embrace the APC as a party that genuinely promotes the interest of Ndigbo. He assured them that more projects had been earmarked for the community and would continue to spread with time.
Highlights of the occasion included the cutting and eating of the new yam, the rhythmic Abia dance performed by the traditional rulers and their council of chiefs, and various cultural displays that showcased the beauty and unity of the Nkerefi people.
Online Poster by — October 31, 2025 in News
NGX Group Declares ₦1.00 Interim Dividend, Sustains Track Record Of Shareholder Value Creation

NGX Group declares ₦1.00 interim dividend, sustains shareholder value creation track record - Champion Newspapers LTD
Nigerian Exchange Group Plc (NGX Group or the Group) has announced the declaration of an interim dividend of ₦1.00 per ordinary share of 50 kobo each, following the approval of its unaudited financial statements for the third quarter ended 30 September 2025, at the meeting of its Board of Directors held on Wednesday, 29 October 2025.

 

 

The interim dividend will be paid to shareholders whose names appear in the Register of Members as at the close of business on Friday, 7 November 2025, while payment will be remitted electronically to qualified shareholders on Tuesday, 18 November 2025.

 

 

This declaration marks another milestone in NGX Group’s history of consistent dividend payments, underscoring the Board’s confidence in the Group’s resilience, profitability, and value-creation strategy.

 

 

Commenting on the announcement, the Chairman, NGX Group, Alhaji (Dr.) Umaru Kwairanga, stated: “The declaration of this interim dividend reaffirms the Board’s confidence in NGX Group’s solid fundamentals and long-term growth outlook. We have maintained a consistent dividend track record that reflects our unwavering commitment to shareholder value. This payment recognises our investors’ trust and remains focused on reciprocating that trust through consistent value addition to its shareholders. Our focus remains on delivering sustainable returns through disciplined execution and strategic growth.”

 

 

In his remarks, the Group Managing Director/Chief Executive Officer, NGX Group, Temi Popoola, noted: “Our commitment to shareholders is at the heart of every strategic decision we make. This dividend reflects the Group’s strong financial discipline, consistent profitability, and prudent capital allocation. As we advance our growth agenda, we will continue to unlock opportunities across our ecosystem, creating measurable value for our investors and reinforcing NGX Group’s position as a trusted driver of capital market prosperity in Africa.”

 

 

NGX Group will continue to demonstrate its commitment to transparent governance, financial discipline, and sustainable value creation.

Online Poster by — October 31, 2025 in Capital Market
Access Bank Deepens Engagement With SME Customers

Amaka Obiefuna

 

Access Bank Plc once again demonstrated its commitment to the growth and sustainability of Nigeria’s Small and Medium-Scale Enterprises (SMEs) as it hosted an exclusive roundtable with its SME customers in Abuja.

 

The event, aptly titled “An Exclusive Roundtable with Chizoma Okoli,” held on Thursday, October 23, 2025, at the Reiz Continental Hotel, Abuja, brought together hundreds of entrepreneurs and business owners across diverse sectors. It was more than a corporate engagement; it was a genuine heart-to-heart conversation between the Bank and its customers.

 

The session opened with a remark from the Bank’s Unit Head, Strategic Communications, Oge Kasie-Nwachukwu, who welcomed guests and set the tone for the conversation. She then introduced the Bank’s Deputy Managing Director (Retail South), Mrs. Chizoma Okoli, whose presence was both reassuring and inspiring for the customers.

 

Addressing customers at the event, Okoli said, ‘At Access bank, we love SMEs, and that is why we have been engaging our SME customers across Nigeria since last year to know their pain points and how to serve them better. We have engaged with our customers in Portharcourt, Enugu, and Lagos. Today, we are in Abuja, we are here for you; to engage, to listen, and to understand how we can make our products and services better suited to your needs,” she said, earning nods of approval from the audience.

 

The event quickly evolved into an open, candid engagement where customers were encouraged to share their experiences and challenges. Participants raised issues ranging from technology downtimes and loan conditions to communication gaps and staff responsiveness. One recurring concern was the stringent collateral requirements attached to loan facilities.

 

Mr. Bala Muhammed, a public health consultant, urged the Bank to review its loan policies to make them more accessible to small businesses. On the other hand, Mrs. Ifeoma Grace Okoye, a small business owner, praised the Bank for its sustained support but encouraged it to do even more to empower SME operators.

 

Okoli in her response, addressed each issue with some reassuring honesty. On technology, she revealed that Access Bank is undergoing a major digital upgrade to ensure faster and smoother transactions. On loan conditions, she explained that regulatory standards from the Central Bank of Nigeria (CBN) sometimes shape internal policies, but assured customers that the Bank was exploring ways to ease access to credit and improve turnaround times.

 

“We are here because of you. We cannot do without you. We are not an institution that claims to know it all. We recognize our shortcomings, and we are committed to doing more,” she said with a resonating tone that reflects humility and sincerity.

 

The Group Head, SME Banking, Mrs. Abiodun Olubitan, also took the stage to outline some of the Bank’s key SME support initiatives, including its collateral-free loan scheme and other innovative financing solutions tailored to help small businesses scale.

 

Oge Kasie-Nwachukwu, Unit Head, strategic communications also reaffirmed the Bank’s commitment to enhancing communication with its customers. She emphasized that Access Bank remains open to partnerships and sponsorships that can help SME clients gain more visibility and access to growth opportunities.

 

As the dialogue deepened, customers became more knowledgeable about products and interventions the Bank had introduced in recent years they had not been aware of. Another customer, Mr. Lolu Adewalure, Chief Operating Officer of Rex Africa, commended the Bank for its consistency in dishing out values. Mr. Adewalure however called for further improvements in its digital infrastructure to enhance customer experience.

 

At the end of the extended session that lasted well beyond the scheduled closing time, many customers described the engagement as enlightening and impactful. They applauded the Bank’s leadership for creating an avenue where customers could be heard directly and their concerns addressed in ample time.

 

For Access Bank, it was not just another customer engagement; it was a reaffirmation of its philosophy; more than banking, it is about building relationships that empower growth. As the guests departed with smiles and renewed confidence, one sentiment echoed across the hall: Access Bank was not just talking about customer care; it was living it.

Online Poster by — October 31, 2025 in Capital Market
SEC Partners CBN, EFCC To Track, Freeze Illicit Digital Wallets

SEC partners CBN, EFCC to track, freeze illicit digital wallets – Mediatracnet
 The Securities and Exchange Commission (SEC) has announced a collaboration with the Central Bank of Nigeria (CBN) and the Economic and Financial Crimes Commission (EFCC) to track and freeze illicit digital wallets used for money laundering and other financial crimes.
 The Director-General of the Commission, Dr. Emomotimi Agama, disclosed this in Abuja while addressing participants at the Abuja Journalists Academy during a lecture on “The Regulation of Digital Assets and Virtual Asset Service Providers in Nigeria.”
Represented by the Head External Relations Department of the SEC, Mrs. Efe Ebelo, Agama said the partnership marked a major step in protecting investors and strengthening integrity in Nigeria’s fast-growing digital finance ecosystem.
“To strengthen enforcement, the SEC is working closely with the Central Bank of Nigeria and the Economic and Financial Crimes Commission to freeze illicit digital wallets and recover criminal proceeds. Our goal is to ensure that innovation serves progress, not predation,” he said.
 The SEC boss noted that Nigeria ranks among the world’s top adopters of digital assets, with more than one-third of the population involved in crypto-related activities.
This, he said, reflects the creativity of Nigerian youth, the spread of mobile technology, and the drive for financial inclusion.
However, he warned that the rapid growth of digital assets has also opened opportunities for abuse.
  He listed common threats such as crypto scams, fake wallet applications, phishing attacks, and ransomware schemes, which have defrauded many unsuspecting citizens.
“Without strong regulation, innovation can quickly become vulnerability,” he cautioned.
“Regulation is not about restriction; it is about building trust and ensuring that innovation strengthens our economy rather than weakens it.”
 To address these challenges, the SEC has established a detailed regulatory framework for Virtual Asset Service Providers (VASPs) under its 2022 Rules on the Issuance, Offering, and Custody of Digital Assets.
 The framework rests on three pillars of licensing, compliance and transparency.
Agama said these measures were part of the Commission’s broader commitment to build a transparent and trustworthy digital asset market that protects investors and discourages criminal activities.
Beyond issuing regulations, he said the SEC is also deploying modern technology to monitor transactions in the digital space. A
 Agama said the Commission now uses blockchain analytics tools and artificial intelligence (AI) to trace transactions, detect fraud, and improve cybersecurity.
 “We are leveraging blockchain analytics, AI, and advanced monitoring systems to strengthen our supervisory capacity,” he explained. “This will help us respond faster to suspicious transactions and protect market integrity.”
 He added that the Commission’s collaboration with the CBN and EFCC would enhance coordination between financial regulators and law enforcement agencies, allowing them to act swiftly against cross-border financial crimes.
 Dr. Agama also placed Nigeria’s regulatory approach within a global context. He said the FATF, through its Recommendation 15, now requires all VASPs worldwide to implement AML and CFT controls.
 He cited other jurisdictions such as the European Union, with its MiCA framework, and the United States, where enforcement against unregistered exchanges has intensified.
“The message globally is clear- digital finance must be as transparent, accountable, and investor-friendly as traditional finance,” the SEC DG stated.
According to Agama, the SEC is committed to maintaining a regulatory balance that supports innovation while safeguarding the financial system from abuse.
“If regulators clamp down too hard, innovation migrates offshore; if they regulate too softly, risks multiply,” he noted. “Our task is to find the right balance, one that encourages creativity while protecting Nigerians from exploitation.”
 He stressed that digital assets were no longer a fringe concept but a structural pillar of modern finance, reshaping markets and redefining trust, ownership, and value exchange globally.
 Agama concluded by reaffirming the SEC’s commitment to building a digital finance ecosystem grounded in ethics and transparency.
“The future of finance is digital, but its foundation must remain ethical, transparent, and trustworthy,” he said. “Trust is the ultimate currency, and as regulators, our highest duty is to preserve it.”
 He urged Nigerian innovators, fintech firms, and investors to embrace responsible innovation, assuring them that the SEC’s goal is to create a secure environment that promotes financial inclusion, investor protection, and national development.
Online Poster by — October 31, 2025 in Capital Market
Access Holdings Records N3.9 Trillion Gross Earnings In Nine Months

 

Access Holdings PLC (“the Group” or “the Company”) today announced its nine-month ended September 30, 2025 (“Q3 2025”) results, recording gross earnings of ₦3.9trillion, which represented a rise by 14.1% year-on-year over ₦3.4trillion as at Q3 2024.

This performance was driven by sustained growth in both interest and fees and commission, reflecting the strength of the Group’s diversified earnings base and improved performance from core operations across its banking and non-banking businesses.

Maintaining the same momentum, gross earnings rose by 56.2% quarter-on-quarter from ₦2.5trillion as at Half Year (H1) 2025.

Interest income rose by 21.1% year-on-year to ₦2.9 trillion in Q3 2025, compared to ₦2.4 trillion in Q3 2024. Net interest income also increased by 48.9% to ₦1.3 trillion from ₦845 billion in the same period. This performance was driven by loan book expansion, reflecting our disciplined risk management approach and a strategic focus towards higher-yielding, quality assets to strengthen portfolio returns.

On a quarter-on-quarter basis, interest income and net interest income grew by 42.1% and 27.8%, respectively, from ₦2.0 trillion and ₦984 billion in H1 2025.

There was 44.3% growth in net fee and commission to N476billion in Q3 2025 from N330billion in Q3 2024, reflecting higher transaction volumes and increased customer activity across digital and payment channels across both periods.

On a quarter-on-quarter basis, net fee and commission income also increased by 100.8% from N237billion in H1 2025.

While total non-interest income declined marginally by 8.1% to ₦872 billion in Q3 2025 from ₦984trillion in Q3 2024, the Group’s growth momentum from core operations continues to support overall earnings trajectory.

Operating income rose 18.8% to ₦2.13 trillion in Q3 2025 from ₦1.8trillion in Q3 2024.

Impairment on loans increased by 141.5% to N350billion as of Q3 2025 from N145billion in Q3 2024.

Operating expenses increased marginally by 6.7% in Q3 2025 to N1.2trillion from N1.1trillion in Q3 2024. The cost-to-income ratio (CIR) improved to 54.6% in Q3 2025 from 60.8% as at Q3 2024, as revenue growth outpaced operating expenses. We expect cost-to-income ratio to stay moderated from ongoing efficiency initiatives, cost optimization measures, and stronger revenue across the Group.

Profit before tax (PBT) increased by 10.4% to N616billion in Q3 2025 from N558billion in Q3 2024. Profit after tax moderated to N447billion in Q3 2025 from N458billion in Q3 2024.

Compared to H1 2025 performance, profitability demonstrated resilience, as profit before tax (PBT) increased by 91.9% from N321billion in H1 2025 YTD to N616billion in Q3 2025. Profit after tax (PAT) also showed improvement in the period with a 107.9% increase to N447billion in Q3 2025 from N215 billion as at H1 2025 YTD.

The Group’s balance sheet increased with total assets growing by 25.8% to N52.0trillion in Q3 2025 from N41.5trillion in FY 2024. The growth in balance sheet was supported by customer deposits, which grew by 47.0% to N33.1trillion in Q3 2025 from N22.5trillion in FY 2024. Loans and advances increased by 19.7% to N15.6trillion in Q3 2025 from N13.0trillion in Q3 2024. The Group is positioned to unlock revenue synergies, enhance cross-border collaboration, and drive sustainable earnings growth.

The Group’s strong performance was largely driven by its non-Nigerian subsidiaries, which together contributed over 50% of consolidated results. These subsidiaries continued to deliver strong growth across key metrics, reflecting the benefits of diversification and deepening franchise strength across our African markets. In comparison, the Nigerian operations experienced underperformance during the period, attributable to changing macroeconomic conditions, inflationary pressures, and continued regulatory adjustments. Despite these headwinds, the Group’s diversified structure continued to provide stability and resilience.

The return on average equity (ROAE) stood at 15.4% in Q3 2025, down from 22.2% in Q3 2024, while return on average assets (ROAA) also moderated to 1.3% in Q3 2025 from 1.8% in Q3 2024. The cost-to-income ratio (CIR) improved to 54.6% in Q3 2025 from 60.8% as at Q3 2024.

Looking ahead, Access Holdings will continue to strengthen our franchise across all our markets and businesses, deepen operational resilience, and create sustainable value for all our stakeholders.

Online Poster by — October 31, 2025 in Capital Market
How Red Cross Champions  Vaccination Efforts Globally 

By Nnedinma Michael
Red Cross has been at
 the forefront of vaccination efforts globally, working tirelessly to increase access to life- saving vaccines.
During the COVID-19 pandemic, the organisation emphasised the need for extraordinary steps to boost vaccine accessibility.
They employed innovative approaches, such as animation, to spread awareness and encouraged people to get vaccinated.
One notable initiative was the Red Cross’s commitment to helping vaccination efforts amid a global slide in vaccine uptake.
They focused on reaching vulnerable populations, including children, youths, people with disabilities, among others.
Speaking on “Saving Lives and Livelihood Skill ( SLL) Project, carried for six months, the Anambra State Branch Secretary, Engr. Kingsley Nonso Okoye, said the Nigeria Red Cross Society’s effort to promote integrated vaccine intake in Anambra State, was funded by Mastercard, through African CDC.
“The project’s approach to capacity building, community engagement and sensitisation is commendable, especially involving mothers, people with disabilities and youths  in promoting vaccine awareness. The focus on integrated vaccine intake  addresses misconceptions and emphasising the benefits of vaccination is crucial in improving pubic health,” he concluded.
He stated that the organisation has engaged in working with local partners, such as primary health care, training healthcare workers and community members to effectively promote and administer vaccine, educating mothers, partnering with media outlets to amplify the message and reach a broader audience, sensitising people to take all recommended vaccines, rather than just one or two.
He stated further that the organisation engaged in  house-to-house approach, confidential counselling and education sessions to personally engage with the
community members, including advocacy meetings with various agencies, groups and community leaders to encourage vaccine intake, community outreach in organising campaigns, posting handbills, leveraging church gatherings to disseminate information, designing programmes to educate students about vaccination, focusing on community- level mobilisation to promote vaccine awarness and uptake, among others.
Online Poster by — October 30, 2025 in News
Nestlé Nigeria 9-Month 2025 Results Shows Growth, Momentum, And Continued Profitability

By Winifred Bosa
Nestlé Nigeria PLC has announced strong financial results in its 9-Month report, driven by high growth.  Key highlights for January to September 2025 Results :
Revenue Growth: Nestlé Nigeria PLC saw a robust 33% increase in revenue, totaling N884.5 billion compared to 9M of 2024.
Operating Profit: The operating profit grew to N181.3 billion, a 63.6% increase from N110.8 billion in 9M of 2024.
Profit Before Tax: The profit before tax reached N127.9 billion, in contrast to the loss of – N255.4 billion in the same period of 2024.
Profit After Tax: The profit after tax amounted to N72.5 billion, compared to a loss of – N184.3 billion in 9M 2024.
Equity Position: The equity position improved by N72.5 billion.
Early payment of USD 20 million inter-group forex debt in Q3 2025
Summary of the results : Jan-Sept 2025
Jan-Sept 2025
Jan-Sept 2024
Revenue
884,536,899
665,289,761
Cost of Sales
(557,661,594)
(458,977,837)
Gross Profit
326,875,305
206,311,924
Results from operating activities
181,343,663
110,843,852
Finance income
1,785,024
2,930,478
Finance costs
(55,173,305)
(369,158,960)
Net finance costs
(53,388,282)
(366,228,482)
Profit /(loss) before income tax
127,955,382
(255,384,629)
Income tax (expense)/credit
(55,473,301)
71,113,867
Profit /(loss) for the period
72,482,081
(184,270,762)
In his remarks on the results, Mr. Wassim Elhusseini, Managing Director and CEO of Nestlé Nigeria PLC, stated, “The results for the nine months signify the sustainability of our return to profitability since the fourth quarter of 2024. The topline growth of 33% during this period, along with a profit after tax of N72.5 billion, clearly illustrate that our dedication to operational excellence and our robust fundamentals are producing the desired outcomes.”
Looking ahead, he emphasized, “we remain focused on enhancing our margin management initiatives, accelerating transformation of our business, while investing in programs that create sustainable value for all our stakeholders, starting from our employees, consumers and extending to our communities and partners across our value chain.”
Nestlé Nigeria’s nine months 2025 results underscore the company’s resilience and operational effectiveness, positioning it for continued success in navigating challenges and seizing future opportunities.
Online Poster by — October 30, 2025 in News