Nigeria Digest: July 31, 2025

Nigeria is revising its 2025 budget due to lower-than-expected oil revenue. The government is considering various measures, including adjusting its oil price benchmark and increasing non-oil revenue.

Transcorp Plc reported N279.7 billion in revenue during the first half of 2025 and plans to pay a N4.06 billion interim dividend, attributing its success to strategic investments.

The share performance of 39 Nigerian firms led to a N863 billion gain for the stock exchange, indicating a continued bullish trend in trading.

Nigerian Breweries Plc achieved a revenue of N733.19 billion in the second quarter of 2025, a 53% increase compared to the same period in 2024, driven by cost optimization, strong market execution, and brand equity.

First Holdco reported a N1.7 trillion interim dividend as part of its latest financial results.

Wema Bank saw its profit before tax surge by 231% to N101.2 billion in the first half of 2025, due to various strategic initiatives.

Sterling Financial Holdings Company reported a 157% year-on-year profit surge in the first half of 2025, driven by strategic focus and operational efficiency.

BUA Foods reported a significant 101% increase in profits to ₦1 billion in the first half of 2025, accompanied by total assets reaching ₦1.5 billion. Revenue also grew by 8% to ₦1 billion, driven by strong performance across all product segments.

Dangote Cement plans to inaugurate a 3Mta grinding plant in Côte d'Ivoire this quarter, furthering its expansion in Africa and cementing its position as a major exporter.