Business
FirstBank Convenes Nigeria Economic Outlook Webinar for 2023

First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced the 2023 edition of its Nigeria Economic Outlook event. The virtual event themed “Nigeria Economic Outlook 2023: A look ahead” is scheduled by 8:30am on Friday, 20 January 2023, via Zoom meeting. To register and participate in the event, do click on the link https://firstbanknigeria.zoom.us/webinar/register/WN_Z-8Izr1sRHmdfRqZ5RiYeQ
The event will promote deliberations and analyses of national and global economic trends to shape 2023. Like its previous edition, the 2023 FirstBank Nigeria Economic Outlook aims to set the tone for the year by providing an opportunity for participants to learn directly from economic experts. Participants will be better informed and knowledgeably empowered to make the right decisions in their socio-economic activities in 2023.
‘Biodun Adedipe, Ph.D, founder and Chief Consultant of B. Adedipe Associates Limited (BAA Consult will lead deliberations at the event as its keynote speaker. Other speakers are FirstBank’s Ini Ebong, Executive Director, Treasury and International Banking; Tosin Adewuyi, Executive Director, Corporate Banking; Ugo “Ugodre” Obi-chukwu, Founder, NairaMetrics as well as Mosope Arubayi, economist and global financial analyst. Chike Uzoma, Head, Strategy & Corporate Development, FirstBank will moderate the event.
According to Mrs. Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications of FirstBank ‘Our forthcoming Nigeria Economic Outlook webinar is a viable opportunity for one to be informed on key trends and activities that will shape the global socio-economic landscape in 2023. 2022 was indeed a turbulent year and from the 2023 forecast, the growth would still be slow. In addition, bearing in mind 2023 being an election year in Nigeria, like every democratic nation around the world, commercial and business activities in the country will be impacted by the forthcoming election.
I encourage everyone to join the event as the keynote speaker and panelists will shed more light and perspectives which will have participants informed about opportunities and happenings that will shape the socio-economic and political environment in the country and the world at large.”
Business
NNPC Slashes Petrol Price to N935 Per Litre in Abuja

The Nigerian National Petroleum Company (NNPC) Limited has reduced its premium motor spirit price in Abuja.
Some motorists in Abuja confirmed the new fuel price adjustment at some NNPC retail outlets.
Reports quoted Abdullahi Hashim, a resident of Kubwa, Abuja, to have said: “I observed the drop in the fuel price to N935 per litre on Saturday morning. It is a welcome development.”
“I think I first saw this new price adjustment in Town, Wuse Zone 4 area, on Friday. NNPC filling station at Kubwa Expressway is just reflecting it,” Bukola Adewole also said.
The development comes after Dangote Refinery announced in its ex-depot petrol price to N835 per litre from N865.
The 650,000 barrels per day refinery had announced that its partners, such as MRS and AP filling stations, are expected to sell petrol between N890 and N920 per litre, depending on the location.
Meanwhile, MRS filling stations in Abuja have not been dispensing petrol since Wednesday, April 16, 2025, when Dangote Refinery announced a slash in ex-depot petrol price.
Business
Glo Opens New Retail Outlet to Serve Ogbomosho

Technology and digital solutions services provider, Globacom, on Tuesday opened a retail shop in Ogbomoso, Oyo State. The opening of the retail shop is meant to bring Glo products and services closer to the people of the area.
Speaking at the event, Mr. Ikechukwu Onuekwusi, Globacom’s Retail Sales Chief for Oyo Division, stated that the commissioning of the retail and customer service shop was in keeping with Globacom’s goal of expanding its platforms to enable customers access its extensive array of products and services.
Said he: “As you are aware, our approach to customer service is underpinned by innovation and total inclusiveness. This is why we are consistently seeking innovative channels to make available our array of services to them”.
He disclosed that the newly commissioned facility also stocks high-end and reasonably priced devices, smartphones, and other accessories. He also assured customers in and around Ogbomoso of quick and satisfactory resolutions of all issues ranging from SIM replacement and registration to recovery of over-scratched cards, refilling, unblocking of phones and laptop configurations for internet services, among other services.
Globacom promised that courteous, well-trained, and customer-friendly staff have been deployed to the new shop to offer first-rate services and handle client complaints in addition to meeting their needs for products and services.
Honorable Timothy Oyedokun, the Chairman of Ogbomoso South Local Government, praised Globacom for always providing Nigerians with various forms of relief. He also commended Globacom for being a proud Nigerian company.
“Since I have known Globacom, it has not changed in its resolve to serve the people of this nation. This shows that the management holds the wellbeing of the people in high esteem”, he noted.
Equally, Mrs. Olufunke Olaniyi, the Local Government Secretary, Ogbomoso North Local Government, who spoke on behalf of the Chairman, Hon. George Gbadegesin Ogunlade, noted that the Glo “network belongs to us, so I want to encourage all sons and daughters to patronize Globacom”.
Business
UBA Expands Operations to Saudi Arabia, France, to Focus on Digital Transformation, Others in 2025

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has outlined its roadmap for the 2025 financial year, with a strong focus on innovation, digital transformation, physical and financial strength as well as its global reach.
On the back of its full-year financial performance for the year 2024, which was released to stakeholders on Tuesday, the bank disclosed plans to accelerate growth through strategic investments in technology, enhanced risk management frameworks, and capital efficiency.
UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, who was speaking to its global investors during the Full year 2024 Investors Conference Call, which held at the UBA Head Office on Thursday, explained that the performance reflected broad-based growth across its core businesses, surpassing previous records and reinforcing its status as a leading global financial institution.
At the end of the 2024 full-year, the bank delivered an exceptional financial performance as the results showed an impressive rise in the bank’s profit after tax which went up by 26.14 percent to close the year at N766.6 billion up from N607.7 billion recorded at the end of the 2023 fiscal year.
Its Gross earnings also grew significantly from N2.07tn recorded at the end of the 2023 financial year to N3.187tn in the period under consideration, representing a 53 percent growth.
Despite the highly challenging global economic and business environment, UBA recorded a profit before tax of N803.72 billion representing a 6 percent increase from N757.68 billion recorded at the end of the 2023 financial year.
Consequently, UBA Group Shareholders’ Funds rose from N2.030 trillion as at December 2023 to close the 2024 financial year at N3.419 trillion, achieving an impressive growth of 68.39 percent.
As a result of the impressive performance the bank proposed a final dividend of N3.00 kobo for every ordinary share of 50 kobo, for the financial year ended December 31, 2024.
Alawuba told the investors at the meeting that the bank is set to further surpass its growth projection through strategic investments in technology, enhanced risk management frameworks, and disciplined capital efficiency.
“We will continue to push the frontiers of innovation and technology adoption to build sustainable value for shareholders by making strategic investments in technology. Our team of committed and motivated workforce will continue to work assiduously to sustain our performance and propel the bank in delivering high-impact, customer-centric product offerings,” Alawuba stated.
He disclosed that the bank is on course to sustain the momentum that it has achieved in the past years, adding that “We shall remain focused on best-in-class risk management strategies in navigating emerging market uncertainties while ensuring financial strength, full regulatory compliance, and long-term sustainability.”
This performance underscores UBA’s ability to generate sustainable revenue growth through core operations, including increased loan book growth, deposit mobilization, and transaction banking.
While disclosing the Bank’s finalisation of its planned expansions to France and Saudi Arabia, he said that the Bank’s ex-Nigeria (Rest of Africa & International) operations have expanded significantly over the past five years, now contributing 51.7% of Group revenue, up from 31% in 2019, “delivering diversification benefits and further boosting long-term shareholder value. This will continue to grow, as we further explore strategic markets that align with our overall vision.”
UBA’s Executive Director, Finance & Risk Management, Ugo Nwaghodoh, said the bank recorded triple digit growth in net interest income, resulting in remarkable improvement in net interest margin from 6.83 percent in 2023 to 9.14 percent, while also recording strong double-digit growth in fee and commission income lines of 91.66 percent.
He explained that as the bank navigates evolving risks, its management remains focused on responsible growth, delivering customer-focused value propositions, whilst ensuring compliance with regulatory requirements in all jurisdictions.
United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.