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DBI Unveils Nigeria Digital Economy Outlook 2026: Q1 Intelligence Report

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DigitalSENSE Business Intelligence (DBI), an initiative of ITREALMS Media, has released the Nigeria Digital Economy Outlook 2026: Q1 Intelligence Report (Executive Edition), offering strategic insights into the trends, risks, and opportunities shaping Nigeria’s digital economy.

The report provides a concise, data-driven overview of key developments across telecommunications, financial technology (fintech), digital infrastructure, policy, and investment dynamics. It highlights the increasing role of digital transformation in driving economic growth, financial inclusion, and innovation across the country.

According to the Publisher of DBI, Ogbuefi Remmy Nweke, the report is designed to support decision-makers with actionable intelligence in an increasingly complex and fast-evolving digital landscape.

“This Executive Edition delivers a clear and strategic perspective on Nigeria’s digital economy at a critical time. As the ecosystem continues to expand, access to credible intelligence will be essential for navigating opportunities and managing emerging risks,” he said.

The report identifies key strategic signals, including the continued expansion of broadband infrastructure, the rapid growth of digital payments, evolving regulatory frameworks, and a shift in investor focus toward sustainability and profitability.

It also outlines priority areas for policy and industry stakeholders, including digital financial inclusion, infrastructure investment, digital skills development, and public sector digitisation.

The Executive Edition is available for public access, while the Full DBI Nigeria Digital Economy Outlook 2026: Q1 Intelligence Report (Full Edition) provides deeper sector analysis, investment insights, and forward-looking intelligence tailored for institutional and executive audiences.

Interested organisations, policymakers, and investors can request access to the full report and executive briefings.

About DigitalSENSE Business Intelligence (DBI)
DigitalSENSE Business Intelligence (DBI) is a research and executive intelligence initiative of ITREALMS Media focused on delivering data-driven insights into Nigeria’s digital economy.

About ITREALMS Media
ITREALMS Media is a multiple award-winning, Nigeria-based technology and digital policy platform delivering news, analysis, consultancy, and commentary on telecommunications, information technology, digital economy policy, and emerging innovations—making leadership SENSE with digital news.

 

APC National Chairman, Nentawe Yilwatda, Donates N15m to Jos Attack Victims, Vows End to Killings in Plateau State

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The National Chairman of the All Progressives Congress (APC), Professor Nentawe Goshwe Yilwatda, on Saturday paid a heartfelt and solemn visit to victims of the recent dastardly attack in Angwan Rukuba, Jos North Local Government Area of Plateau State, who are currently receiving treatment at the Jos University Teaching Hospital (JUTH).

Professor Yilwatda was accompanied on the visit by his wife, Dr. Martina Yilwatda, in a demonstration of compassion, solidarity, and shared commitment to the pain and plight of the victims, their families, and the people of Plateau State at this difficult moment.

The visit was not only a gesture of sympathy but also a clear reaffirmation of the resolve of the Federal Government under the leadership of President Bola Ahmed Tinubu to ensure that the lives and properties of Nigerians are protected and that the repeated shedding of innocent blood in Plateau State must come to an end.

Speaking during the visit, Professor Yilwatda described the attack as barbaric, painful, unacceptable, and a direct assault on our common humanity, stressing that the time has come for all stakeholders to move beyond routine condemnation and work deliberately and collectively to prevent any recurrence of such senseless violence.

In a statement signed by Mr. Abimbola Tooki, Special Adviser to the National Chairman of APC, Media and Communications Strategy, Yilwatda said the pain of the victims and their families is a burden that must be shared by all men and women of conscience, adding that no society can make meaningful progress where innocent citizens continue to live in fear and uncertainty.

He stated that the administration of President Bola Ahmed Tinubu remains deeply committed to restoring peace, strengthening security operations, and ensuring that all parts of the country, including Plateau State, enjoy the safety and stability necessary for development and peaceful co-existence.

Yilwatda assured the victims and their families that the Federal Government is not leaving any stone unturned in its determination to ensure that every Nigerian life is valued, protected, and defended against criminality, violence, and terror.

He further emphasized that the tragedy in Angwan Rukuba must serve as a wake-up call to all leaders, communities, security institutions, and political actors to rise above division and work in unity to confront the forces of violence threatening the peace of Plateau and other parts of the country.

As a practical expression of support and compassion, the APC National Chairman announced a donation of Fifteen Million Naira (N15,000,000) to support the victims of the Angwan Rukuba attack as well as other vulnerable patients receiving treatment at the Jos University Teaching Hospital.

The donation, he noted, is intended to ease the immediate burden of medical care and provide some measure of relief to those going through physical pain, emotional trauma, and financial hardship as a result of the unfortunate incident.

Yilwatda also used the occasion to commiserate with the families of those who lost their lives in the attack, praying for the peaceful repose of the departed and asking God to grant their loved ones the strength and courage to bear the painful and irreparable loss.

He expressed deep appreciation to the management and medical personnel of the Jos University Teaching Hospital for their prompt response, professionalism, and commitment in attending to the victims and saving lives under difficult circumstances.

The National Chairman also paid a condolence visit to the Paramount Ruler of Jos North Local Government Area, the Ujah Anaguta, over the unfortunate attack on residents of Anguwan Rukuba, a community within his domain.

The APC National Chairman reiterated that the tragedy in Plateau must not be normalized, politicized, or reduced to another passing news cycle.

Rather, he said, it must provoke renewed urgency, coordinated action, stronger intelligence gathering, deeper community engagement, and sustained security intervention to ensure that communities across the state are protected from further attacks.

He called on political leaders, traditional rulers, religious leaders, youth groups, civil society organizations, and community stakeholders to close ranks and reject every form of hatred, division, provocation, and violence capable of threatening the peace and unity of Plateau State.

Professor Yilwatda maintained that Plateau, with its rich diversity, history, and strategic importance, must not be allowed to descend into repeated circles of bloodshed, grief, and instability.

He affirmed that the APC, the Federal Government, and all responsible stakeholders are united in the resolve to ensure that there is no repeat of such horrific incidents and that every necessary step will continue to be taken to restore confidence, strengthen peace, and guarantee security for all residents of the state.

The visit by Professor Nentawe Yilwatda and Dr. Martina Yilwatda stands as a powerful reminder that in moments of pain and tragedy, leadership must not only speak, it must show up, stand with the people, and act with compassion and responsibility.

As Plateau mourns, the message from the APC National Chairman is clear and unequivocal:

the killing of innocent citizens must stop, the perpetrators must not prevail, and peace must return fully and permanently to Plateau State.

 

PR Industry Leaders Hail Adejumoh’s Book, Advocate Strategic Shift in Practice

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L-R: Chief Yomi Badejo-Okusanya (YBO), Chairman, Board of the Nigeria Reputation Management Group (NRMG)/ immediate past President of the African Public Relations Association (APRA)/Founder, CMC Connect LLP, Dr. Oluwasoromidayo George, Corporate Affairs and Sustainability Director, Nigerian Bottling Company; Godfrey Adejumoh, Author, ‘Winning With Strategic Communications’; Mrs. Funmilayo Onajide, Chairman, Board of Directors, Brooks and Blake Nigeria Limited; and Mr. Israel Jaiye Opayemi, Managing Director/Chief Strategist, Chain Reactions Africa, during the launch of the book: ‘Winning With Strategic Communications’ in Lagos, Nigeria recently.

Industry leaders have overwhelmingly endorsed Godfrey Adejumoh’s newly unveiled book, Winning with Strategic Communications: Essential Strategies for the Next Generation of Leaders, describing it as a timely and transformative contribution to the evolution of public relations practice in Nigeria and across Africa.

The book, launched at a well-attended event in Lagos, drew top communication professionals, corporate leaders, and stakeholders, many of whom commended both the depth of insight and the urgency of its message.

Leading the chorus of commendations, Israel Jaiye Opayemi, Managing Director and Chief Strategist of Chain Reactions Africa, said the publication comes at a critical turning point for the industry.

“First and foremost, this book would not have come at a better time than now,” he noted, pointing to an ongoing generational transition as many founding figures in the PR space approach retirement.

Opayemi described the book as a call to action for practitioners to deliberately document their experiences and contribute to a growing body of knowledge that will sustain the profession’s future.

Similarly, Chief Yomi Badejo-Okusanya (YBO), Chairman, Board of the Nigeria Reputation Management Group (NRMG)/ immediate past President of the African Public Relations Association (APRA)/Founder, CMC Connect LLP, underscored the need for a clear distinction between strategy and tactics in communications practice.

While describing the book as a strong tactical expression, he noted that it aligns with a broader strategic ambition to position communication professionals at the heart of organisational decision-making.

He further stressed that practitioners must assert their relevance across critical business functions, including finance, human resources, sales, and marketing.

Badejo-Okusanya also emphasised the importance of sustained engagement with the book’s ideas, revealing plans to integrate it into structured learning within his organisation.

“I bought about 10 copies. We’re going to have sessions on it. He’s going to come and teach us,” he said, adding that real value lies in internalising knowledge and applying it in practice.

Adding to the commendations, Soromidayo George, Corporate Affairs and Sustainability Director at Nigeria Bottling Company, praised Adejumoh’s professionalism and character, describing the book as impactful and widely relevant.

“This is a book everybody should read. It will make a significant difference in people’s lives,” she said.

In the same vein, Funmi Onajide, Chairperson, Brooks and Blake PR, highlighted the author’s commitment to continuous learning and excellence, noting that he remains a strong asset to the communications industry.

Also lending institutional support, Dr. Samuel Ayetutu, Chairman, Lagos State Chapter of the Nigerian Institute of Public Relations (NIPR), described the book as a timely addition to the profession’s knowledge base.

In his remarks, Adejumoh made a compelling case for elevating the role of communications professionals from tactical support to strategic leadership.

“The communication professional must be present in rooms where decisions are taken,” he said. “We need to get to the point where when a company needs a new CEO, a communication professional is on top of the list.”

He emphasised that corporate communications is not merely about visibility but about influence, transformation, and measurable business impact.

“The business of corporate communications is about turning things around for the good of the business. Our job is not to raise shoulders, it is to influence,” he added.

Drawing from over 15 years of experience working with multinational organisations such as Diageo, Unilever, MTN, DHL, Accenture, and LG, Adejumoh positions the book as a practical playbook for navigating leadership, reputation management, and strategic influence in a complex business environment.

Beyond its immediate reception, stakeholders at the launch agreed that the book has ignited a critical conversation about the future of public relations, particularly the need to deepen strategic thinking, institutionalise knowledge sharing, and position practitioners as key drivers of business success and national development.

 

Beta Glass Reports Revenue of N149.1bn in Audited Results for 2025

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Beta Glass Plc, the leading glass container manufacturer in West and Central Africa, is pleased to announce that its Board of Directors has approved the Company’s Audited Financial Statements (AFS) for the financial year ended December 31, 2025, reporting solid revenue growth and reaffirming the Company’s commitment to its core pillars of operational excellence, innovation, and sustainable business practices.

Key Highlights:

 

N’000 Year ended December 2025 Year ended December 2024 +/-%
Revenue from contracts with customers 149,122,525 117,580,184 +27%
Gross profit 52,663,718 30,757,712 +71%
Operating Profit 48,092,894 23,555,671 +104%
Profit Before Taxation 50,541,595 19,903,373 +154%
Profit for the Year 33,245,317 13,626,830 +144%

 

Revenue: For the 2025 financial year, Beta Glass recorded revenue of ₦149.12 billion, compared with ₦117.58 billion in 2024, representing a 27% year-on-year increase. This growth reflects continued demand for the Company’s glass packaging products across key sectors of the Nigerian economy.

Margins: In 2025, the Company’s Gross Margin improved from 26.3% in 2024 to 35.3% while Operating Margin improved from 20.0% to 32.3%. This significant improvement in margins reflects improved operating efficiency and effective cost management.

Profit After Tax (PAT): The Company reported Profit After Tax of ₦33.25 billion, representing a 144% year-on-year increase from ₦13.63 billion recorded in 2024, demonstrating the resilience of its operations despite evolving global and regional market conditions.

Earnings Per Share (EPS): Earnings per share for the year stood at ₦55.41, representing a 144% year-on-year increase from ₦22.71 in 2024.

“This year’s results reflect the resilience of our business model and the successful execution of our strategic initiatives. Despite market challenges, our commitment to delivering value to our shareholders was and remains strong. Our performance was underpinned by improved production efficiency, effective cost management, and a clear focus on our key customers and segments. At the same time, we continued to invest significantly in our asset base, with the rebuild of our furnace in Delta, positioning the business for sustainable long-term growth.” said Alex Gendis, Chief Executive Officer of Beta Glass Plc.

The Board noted that the Company continues to monitor global developments, including geopolitical tensions and their potential impact on energy costs and supply chains, while maintaining confidence in the Company’s operational resilience and long-term growth strategy.

The full Audited Financial Statements are available on the website https://www.betaglass.com/ and the Nigerian Exchange Group https://ngxgroup.com/.

 

About Beta Glass Plc

Beta Glass Plc is a leading manufacturer of quality glass packaging solutions for the beverage, pharmaceutical, and food industries in West and Central Africa.

The company is committed to innovation, sustainability, and delivering high-performance packaging solutions that support product integrity while promoting environmental responsibility.

Stanbic IBTC Sets Sustainable Growth Agenda for Key Sectors at Inaugural Nigeria Business Summit

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Stanbic IBTC, a leading financial services provider in Nigeria, successfully hosted the 2026 edition of the Nigeria Business Summit from Wednesday, 01 April to Thursday, 02 April 2026, at the Landmark Event Centre, Victoria Island, Lagos.

The two-day summit brought together industry leaders, policymakers, entrepreneurs and stakeholders across multiple sectors to explore sustainable business practices, foster economic growth and unlock global trade opportunities.

With the theme, ‘Nigeria Means Business: Powering Sectors, Growing Sustainable SMEs & Unlocking Global Trade’, the summit addressed critical issues across key sectors, including agribusiness, renewable energy, trade and Africa–China banking, as well as ICT and telecommunications. Additional sessions covered areas such as family business sustainability, artificial intelligence, employee value banking, insurance, pension and wealth management.

The event featured a keynote address by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who emphasised the urgent need for Nigeria to reposition itself as a leading export-driven economy to achieve sustained growth.

“Our true potential lies in becoming a leading export economy,” Edun stated. “Increased participation in regional and global trade will be critical to diversifying foreign exchange earnings and driving inclusive growth.”

He noted that while Nigeria’s GDP growth has improved to approximately 4 per cent, it remains below the level required to significantly reduce poverty. According to him, the country’s economic strategy is now shifting from stabilisation to growth acceleration, with trade expansion playing a central role.

Edun highlighted ongoing reforms, including improved foreign reserves, rising non-oil revenues and renewed investor confidence, as indicators of a more resilient economy. However, he stressed that enhancing trade competitiveness would require continued investment in infrastructure, logistics and policy coordination. He also highlighted the importance of small and medium-sized enterprises (SMEs), which account for over 90 per cent of businesses, noting that inclusive growth will depend on stronger collaboration between the public and private sectors.

Participants engaged in a rich line-up of activities, including expert presentations, panel discussions and high-level networking opportunities. Highlights of the summit included the Africa Trade Barometer presentation, client testimonial showcases and insightful discussions on the state of the African economy and intra-African trade opportunities.

Breakout sessions on agribusiness, ICT and healthcare, Africa-China banking and Trade as well as renewable energy provided attendees with deeper, practical insights into some of the most critical sectors driving Nigeria’s economic future.

Speaking at the event, Chuma Nwokocha, Chief Executive of Stanbic IBTC Holdings, represented by the organisation’s Chief Finance and Value Management Officer, Kunle Adedeji, emphasised the importance of collaboration and innovation in driving sustainable growth.

“This summit has reinforced the importance of creating platforms where ideas can flourish and businesses can grow sustainably. By working together, we can unlock new opportunities and drive economic advancement across Nigeria and the African continent,” he said.

The summit also spotlighted practical strategies for integrating sustainability into business operations, encouraging organisations to adopt environmentally conscious practices while maintaining profitability and competitiveness.

Remy Osuagwu, Executive Director, Business & Commercial Banking, expressed satisfaction at the level of interest from participants, a critical element for a successful summit.

“From our conversations on energy and healthcare to the deep dives into trade, Africa-China relations, and agribusiness, Day 1 has offered perspectives that were both insightful and practical. I believe we’re all leaving with a stronger understanding of the opportunities emerging across our industries” Remy said.

He acknowledged the level of engagement, questions, contributions and willingness of participants to share experiences; describing this as the real power of the Nigeria Business Summit, and a solid foundation for tomorrow.

The Chief Executive of Stanbic IBTC Bank, Wole Adeniyi, who was represented by Bunmi Dayo-Olagunju, Deputy Chief Executive of Stanbic IBTC Bank, opened Day Two of the Nigeria Business Summit by highlighting the focus of the summit’s SME Day.

Bunmi said: “Today, we build on Day One’s momentum with conversations that are equally critical for the future – from the dynamics of family businesses to the growing influence of artificial intelligence; the evolution of insurance, and the emerging space of electric vehicle banking.”

She further added, “Our goal on Day Two is simple: to explore what’s next. To understand how these developments will shape our businesses and how we can position ourselves ahead of the curve.”

Stanbic IBTC’s inaugural Nigeria Business Summit stands as a testament to the organisation’s commitment to empowering businesses, strengthening key sectors and positioning Nigeria as a competitive player in the global economy.

Ecobank Nigeria Assures Customers of Uninterrupted Banking Services During Easter Public Holidays

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Ecobank Nigeria, a member of Africa’s leading pan-African banking group, has reaffirmed its commitment to providing customers with seamless and uninterrupted banking services throughout the Easter public holidays. The Bank assured customers that its secure and robust digital platforms will remain fully operational to support financial activities during the festive period.

All digital channels, including the Ecobank Mobile App, Ecobank Business App, USSD *326#, Ecobank Online, OmniPlus, Omnilite, EcobankPay, Ecobank Cards, ATMs, PoS terminals, and over 35,000 Ecobank Xpress Point agent locations nationwide will remain accessible throughout the holiday.

Speaking on the Bank’s preparedness, Victor Yalokwu, Head, Products & Analytics, Consumer & Commercial Banking, Ecobank Nigeria, assured customers of a smooth and secure banking experience during the Easter break. He noted that customers can conveniently conduct transactions at any time using the Bank’s wide range of digital solutions.

“Customers will continue to enjoy a full bouquet of services during the holiday, including local and international funds transfers, bill payments, airtime top-ups, merchant payments, balance enquiries, account statements, and cardless cash withdrawals via ATMs. We understand that festive seasons come with increased financial activity, and our priority is to ensure our customers enjoy fast, reliable, and secure banking wherever they are. Our digital channels are designed to support uninterrupted transactions, and we have strengthened our systems to guarantee optimal performance throughout the Easter break,” Yalokwu said.

He encouraged customers to maximise the Bank’s alternative channels for transfers, bill payments, airtime purchases, card services, and account management. He also advised customers to stay vigilant by shopping only on trusted websites; avoiding the sharing of PINs, passwords, and one-time passwords (OTPs); refraining from banking on public Wi-Fi networks; being cautious of urgent or emotionally charged messages; and regularly monitoring their account activity.

Yalokwu added: “Ecobank remains committed to providing innovative financial solutions and exceptional customer service. We wish all our customers and partners a peaceful and joyful Easter celebration.”

 

About Ecobank Nigeria

Ecobank Nigeria is a member of the Ecobank Group, the leading pan-African banking institution with operations in 32 African countries and international offices in London, Paris, Beijing, and Dubai.

With over 220 branches, more than 36,000 agency banking locations, and robust digital platforms, Ecobank delivers accessible, affordable, and instant banking services.

The Bank is strategically positioned to support pan-African trade, particularly under the African Continental Free Trade Area (AfCFTA).

APC National Chairman, Nentawe Yilwatda: Plateau State Must Never Bleed Again

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Professor Nentawe Yilwatda, National Chairman of the All Progressives Congress (APC), has commended the visit of President Bola Ahmed Tinubu, GCFR, to Plateau State to commiserate with the government and people of the state over the recent horrific and senseless killings of innocent residents of Angwan Rukuba in Jos North Local Government Area.

The President’s visit is a profound demonstration of responsive leadership, empathy, and national solidarity at a time when the people of Plateau are grieving the painful and unjust loss of their loved ones to yet another round of barbaric violence.

President Tinubu was received in Plateau State by the National Chairman, the Executive Governor of Plateau State, Barrister Caleb Mutfwang, former governors, political leaders, traditional rulers, religious leaders, elders, women and youth representatives, as well as stakeholders from across all segments of society in the state.

Speaking during the visit, the APC National Chairman, Professor Nentawe Yilwatda, condemned the killings in the strongest and most unequivocal terms, describing the attack as inhuman, cowardly, reprehensible, and a direct assault on the peace, unity, and soul of Plateau State.

According to Professor Yilwatda, the continued shedding of innocent blood in Plateau is not only unacceptable but a national tragedy that must no longer be treated with routine outrage and temporary responses.

In a Statement signed by Abimbola Tooki, Special Adviser to the National Chairman on Media and Communications Strategy, Yilwatda stressed that the time has come for deliberate, coordinated, and result-oriented efforts by all relevant authorities and stakeholders to ensure that such dastardly and unconscionable acts never happen again in Plateau State or anywhere else in the country.

Professor Yilwatda called on leaders of communities across Plateau State to become more vigilant, responsive, and proactive in identifying and reporting suspicious movements and security threats within their domains.

He noted that the recurring pattern of killings strongly suggests that many of those behind these heinous acts are not ghosts or invisible invaders, but criminal elements and miscreants living within or around the communities, exploiting local vulnerabilities to unleash mayhem on innocent citizens.

In his words, these evil perpetrators must no longer be shielded by silence, fear, complicity, or communal indifference. He insisted that they must be identified, exposed, apprehended, and made to face the full wrath of the law.

The APC National Chairman further charged security agencies to urgently rethink and upgrade their security architecture and operational methods in tackling the persistent violence in Plateau State.

He emphasised that the security agencies cannot continue to deploy outdated tactics against increasingly adaptive and ruthless criminal networks and expect a different outcome.

Professor Yilwatda therefore advocated the deployment of modern surveillance and intelligence-driven technology, including Artificial Intelligence-powered cameras, drones, advanced tracking systems, and real-time intelligence gathering mechanisms, to detect, monitor, and neutralise criminal elements before they strike.

He said the era demands smarter, faster, and more sophisticated security responses, adding that the protection of lives and property must now be driven not only by manpower, but also by technology, intelligence, precision, and accountability.

He stated clearly that Plateau cannot continue to mourn in cycles, while the enemies of peace roam freely and repeatedly unleash terror on innocent citizens.

Professor Yilwatda also drew attention to the grave economic implications of insecurity in Plateau State, lamenting that the state, which is richly blessed with breathtaking natural landscapes, vibrant tourism assets, and enormous economic potential, has continued to suffer avoidable setbacks due to persistent violence.

He noted that Plateau has long been celebrated as a peaceful and attractive destination with some of Nigeria’s most vibrant tourism centres, cultural attractions, and agricultural potential, but all of these opportunities remain vulnerable and stunted in the face of recurring attacks.

According to him, no economy can thrive where fear reigns, no investment can flourish where blood is spilled, and no society can truly prosper where innocent citizens live under the shadow of insecurity.

He warned that without adequate protection of lives and communities, the social and economic future of the state could be severely paralysed, thereby depriving the people, especially young people, of prosperity, stability, and hope.

Professor Yilwatda therefore called for a whole-of-society approach to ending the violence in Plateau, urging traditional institutions, religious leaders, political actors, youth groups, women’s groups, security operatives, and community stakeholders to work together in honesty and patriotism to restore peace and stability.

During the visit, other leaders from across Plateau State also spoke passionately on the disturbing security situation in the state and the urgent need for decisive and sustained intervention to halt the bloodshed and restore confidence among the people.

As part of the visit, President Bola Ahmed Tinubu, accompanied by Professor Nentawe Yilwatda, Governor Caleb Mutfwang, former leaders, and other key stakeholders, also paid a solemn and deeply emotional visit to the families of the affected victims of the Angwan Rukuba attack.

The visit to the bereaved families was a moving moment of compassion and national mourning, as the President shared in their pain and offered words of comfort, reassurance, and solidarity in the face of unimaginable loss.

The APC notes that this visit by President Tinubu is not merely symbolic; it is a powerful signal that the Federal Government stands firmly with the people of Plateau State and remains committed to confronting the menace of violent attacks with renewed urgency and seriousness.

It is expected that the President will, in the days ahead, continue broader engagements with leaders of Plateau communities and critical stakeholders toward evolving practical, inclusive, and lasting solutions that will guarantee sustainable peace, justice, reconciliation, and security for the people of the state.

The APC reiterates that the lives of Plateau citizens are sacred and non-negotiable, and that those who delight in sowing death, fear, and division among peaceful communities must be hunted down and brought to justice without delay.

“The blood of innocent men, women, and children cries out for justice, and the nation must answer with resolve.

Plateau deserves peace.

Plateau deserves healing.

Plateau deserves protection.

And above all, Plateau must never be allowed to bleed like this again.”

NGX Group Chair: Dangote Refinery Remains a Key Economic Gain for Nigeria, Africa

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 On behalf of the African Capital Market community, which today includes representatives from the Johannesburg Stock Exchange, the Nairobi Stock Exchange, the Ghana Stock Exchange, the BVRM – Cote D’Ivoire; Mali; Senegal; the Ethiopian Stock Exchange and the Rwanda Stock Exchange as well as management and trading licence holders of the Nigerian Exchange Group NGX, I wish to express our joy to be given this opportunity to see what a great titan of entrepreneurship and industry, Alhaji Aliko Dangote and his team in Dangote Industries Limited, have planted here for the betterment of our great continent.

I would like to make some comments about the driving force behind Dangote Industries, my Mentor and Big Life Brother, Alhaji Aliko Dangote.

Alhaji Dangote is a true visionary with a mission to move the African continent from consumption to production, especially through industrialisation. He has the rare ability to conceive grand designs and bring those designs to reality through meticulous planning and exceptional execution.

In doing that, he has transformed lives, businesses and nations. He and his team at Dangote Group have applied their deft touch in food, cement, fertiliser and petroleum products.

Dangote Refinery and Petrochemical Complex is a prime example of the Dangote vision, mission and impact. Determined to put an end to Nigeria and indeed Africa’s reliance on imported petroleum products, the group embarked on the construction of the largest single train refinery in the world.

The impact on the daily lives of Nigerians, and on Nigeria’s balance of payment and external reserves has been massive and positive.

Alhaji Dangote has decided to share the fruits of his labour with willing investors across the continent through a public listing of the shares but those investors need to know more about what they are buying through their professional advisers such as you.

Let me therefore say that we are not only here to see and marvel, but to also evaluate and offer our services as capital market operators and financial advisers for the success of the initial public offer of the shares and their listing on Africa’s foremost exchange, the Nigerian Exchange NGX.

I thank you all for making this trip and also appreciate Dangote Industries Limited once again for granting us an inside and closer look at this magnificent edifice.

 

Alhaji (Dr) Umaru Kwairanga

Chairman NGX Group

NAICOM, Stakeholders Applaud Daily Economy, Author at Insurance Book Launch

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L-R: General Manager, Production, Punch Nigeria Limited, Mr Olayinka Popoola, President of the Chartered Insurance Institute of Nigeria (CIIN), Mrs. Yetunde Ilori; Publisher, Daily Economy, Nike Popoola; Chairman of Prestige Insurance Brokers Limited, Prince (Dr.) Feyisayo Soyewo, MFR; Director, Human Resources & Administration, National Insurance Commission, Mr. Rasaaq Salami; President and Chairman of the Governing Board of the Nigerian Council of Registered Insurance Brokers, Mrs. Ekeoma Ezeibe, FCIB, during Daily Economy’s second anniversary and launch of an insurance book titled “Trends in Nigeria’s Insurance Industry (2005–2025) & Selected Insurance Icons, ” in Lagos.

The Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Olusegun Ayo Omosehin, has reaffirmed the Federal Government’s commitment to strengthening Nigeria’s insurance sector through robust reforms and enhanced regulation.

Speaking at the second anniversary of Daily Economy and launch of the book titled “Trends in Nigeria’s Insurance Industry (2005–2025) & Selected Insurance Icons” in Lagos, Omosehin described the past two decades as a transformative period for the industry.

Represented by the Director of Human Resources and Administration at NAICOM, Rasaaq Salami, he said sustained reforms, innovation, and regulatory interventions have driven growth, financial inclusion, and industry relevance.

He commended Daily Economy and the author, Nike Popoola, noting that her dedication, consistency, and depth of coverage have culminated in an exceptional body of work. He described the book as a strategic documentation of transformation, leadership, resilience, and institutional evolution.

Chairman of the occasion, the Chairman of Prestige Insurance Brokers Limited, Prince (Dr.) Feyisayo Soyewo, applauded Popoola for her relentless efforts in documenting industry activities, particularly her contribution to insurance education and knowledge development.

The Group Managing Director/CEO of African Reinsurance Corporation, Dr. Corneille Karekezi, who was the Special Guest of Honour, also praised the publisher, noting that her stories are being consistently read.

Similarly, President of the Chartered Insurance Institute of Nigeria, Mrs. Yetunde Ilori, described Popoola as a hardworking journalist committed to the growth and development of the industry, adding that her versatility has driven Daily Economy’s progress over the past two years.

Chairman of the Nigerian Insurers Association, Mr. Kunle Ahmed, represented by the Director-General, NIA, Mrs. Bola Odukale, said Popoola is a valuable asset to the insurance industry, noting that her new book has become a lasting documentary that will outlive its author.

President of the Nigerian Council of Registered Insurance Brokers, Ekeoma Ezeibe, also applauded the publisher’s exemplary character, noting that it is positively impacting her platform, which continues to grow rapidly.

Popoola previously worked at Punch Nigeria Limited, where she rose to the position of assistant editor before becoming the publisher of Daily Economy.

Representing the Managing Director/Editor-in-Chief of PUNCH, Joseph Adeyeye, the General Manager, Production, Olayinka Popoola, paid tribute to her transition from a distinguished journalist to an industry authority.

“Nike was an outstanding reporter, hardworking, disciplined, and deeply committed to excellence. It is no surprise that the same depth she brought to journalism at PUNCH has produced this important book. She has risen to become one of the few authorities who have codified their experience for the advancement of the sector,” Adeyeye said.

The book reviewer and CEO of NCRIB, Tope Adaramola, also commended the publication, noting that it reflects key industry milestones in the period under review.

Popoola said the publication embodies Daily Economy’s commitment to deepening financial literacy, preserving institutional memory, and contributing to knowledge within the insurance ecosystem.

NCDMB Lauds ESSO on $23m New Logistics Base at LADOL

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The Nigerian Content Development and Monitoring Board (NCDMB) has applauded ESSO Nigeria on the groundbreaking of its permanent shore-base facility at the LADOL Deep Offshore Logistics Base, describing the project as a major demonstration that Nigeria has become a prime hub for global oil and gas logistics.

ESSO Nigeria is an affiliate ExxonMobil, an international operating company and the shorebase facility is valued at $23 million and will include an administrative building, warehouses, and other storage areas.

Speaking at the event held at LADOL base, Lagos, the Executive Secretary of NCDMB, Engr Felix Omashola Ogbe congratulated ESSO and LADOL on the project, and reaffirmed the Board’s commitment to working with industry players to deepen capacity development in the country’s upstream supply chain.

He praised LADOL’s track record of consistency, tenacity and forward-looking momentum, and noted that the qualities had been evident over many years of close engagement with the facility.

He situated the groundbreaking within the broader context of the ongoing global logistics crisis triggered by instability in the Middle East, noting that supply chain disruptions had driven up costs from Singapore to Eko Hotel and across markets in the United States, sparing no economy.

The Executive Secretary who was represented by his Senior Technical Adviser, Engr. Austin Uzoka noted that LADOL’s emergence as a credible deep offshore base represented a direct and tangible response to vulnerability in the logistics sphere of the Nigerian oil and gas industry.

“Today, we’re pleased that Nigeria has an alternative” he stated, drawing a parallel between the completion of the Dangote Refinery and the expansion of LADOL, and harping that Nigeria’s supply chain was measurably stronger than it was 10 years ago.

The NCDMB chief urged ESSO’s leadership to adopt a front-end-loaded payment structure in its contractual arrangements with LADOL, arguing that timely and adequate funding from the client side would enable the facility to complete the project without recourse to bank loans at cut-throat interest rates.

He noted that cash flow constraints had become a recurring challenge for Nigerian suppliers across the industry, with many approaching the Board for funding support precisely because payment timelines from operators were not aligned with project delivery demands.

“I would like to encourage you to pay LADOL more. Make sure that it is front-end-loaded, so they can have money to finish this on time without having to go to the banks and pay high interest rates to get the job done.”

He emphasised that supply chains are at the bedrock of national development and that the NCDMB, as the agency mandated to grow capacity in Nigeria’s oil and gas industry, will continue to deepen its partnership with both the LADOL and ESSO to build more capacity within the country.

He described ESSO as a measured and deliberate operator that moved decisively once committed, expressing confidence that the groundbreaking signalled the commencement of a project that will be delivered on schedule.

He further charged that ESSO Nigeria to remain committed to the utilizing the Nigerian capacities and capabilities on delivering the project.

The Chairman and Managing Director ExxonMobil affiliates in Nigeria, Mr. Jagir Baxi had earlier indicated that the project reflects an important milestone investment by ESSO Nigeria in its 70-year long partnership with the country. The project also underscores the company’s steadfast commitment to enhance Nigeria’s deepwater offshore operational capabilities.

The structures will be constructed predominantly by Nigerian companies, thereby supporting local job and development of expertise in engineering, construction and commissioning, the company’s chief executive added.

The ceremony was attended by representatives of the Bank of Industry, leadership of ESSO Nigeria, the LADOL management led by Dr. Amy Jadesimi, as well as officials from the Nigeria Customs Service, the Nigeria Immigration Service, and other relevant government agencies.

NCDMB Leads NCCF Overhaul, Sets Path for High-impact Delivery

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The Nigerian Content Development and Monitoring Board (NCDMB) has commenced a strategic reset of the Nigerian Content Consultative Forum (NCCF), a key platform for facilitating information sharing and collaboration among key industry stakeholders and proposing interventions and policy changes. The goal of the reset is to deliver high-impact Nigerian content outcomes.

At a two-day retreat and first half of the 2026 Steering Committee Meeting of the NCCF, the Board underscored the need for a clear, actionable roadmap to reposition the forum as a more effective driver of in-country capacity development in the oil and gas sector.

Declaring the retreat open, the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe described the session as a “defining moment” in the evolution of the NCCF, noting that while the forum had recorded steady growth since its inception, a more deliberate and strategic direction had become imperative.

“The NCCF began as a vision, modest in structure but bold in intent. Today, we can confidently say that this baby has grown, nurtured by your dedication, strengthened by collaboration and sustained by our shared commitment to advancing Nigerian content,” he said.

Represented by the Acting Director, Planning, Research and Statistics at NCDMB, the NCDMB boss stressed that progress must now be matched with intentional planning, urging stakeholders to focus on long-term impact.

“This retreat is not just another meeting; it is a defining moment. We are here to reflect, interrogate our current realities and chart a clearer, more strategic path forward for the NCCF,” he added.

He highlighted the baseline study conducted by Ernst & Young as a critical tool for benchmarking the forum against global best practices, identifying gaps and repositioning it for greater relevance. He noted, however, that transformation would depend on people, not just frameworks.

“The success of the framework, policy guidelines and roadmap we seek to develop will depend on the quality of our engagement, the sincerity of our contributions and our willingness to think beyond silos,” Ogbe stated, urging participants to be deliberate, constructive and bold in their deliberations.

Providing context for the retreat, Partner at EY and session facilitator, Mr. Damilola Aloba, outlined three core objectives driving the engagement—strengthening aligned leadership on NCCF’s long-term direction; improving co-ordination between the Forum, its Sectoral Working Groups (SWGs) and NCDMB; and fostering shared ownership of its mission.

“We want to strengthen aligned leadership on NCCF’s long-term direction and ensure clear expectations across NCDMB, the NCCF Secretariat and SWGs,” Aloba said.

He added that the retreat would also enhance co-ordination frameworks to enable smoother implementation and more consistent stakeholder engagement, while ensuring a common understanding of execution responsibilities across the ecosystem.

Aloba disclosed that stakeholder consultations and benchmarking analysis revealed key structural and operational gaps, including unclear strategic direction, delays in project approvals and limited clarity around post-idea decision-making.

“The forum lacks clear strategic direction from NCDMB, creating uncertainty among SWGs regarding expectations and deliverables,” he noted, adding that “unrefined expectations and the absence of a supportive framework” further constrained performance.

Other findings included budget limitations due to reliance on NCDMB as the sole funding source; weak project evaluation and tracking capacity; and the absence of defined criteria for assessing project viability and impact.

Despite these challenges, he acknowledged strong commitment from SWG members, particularly in deploying time and financial resources towards capacity development initiatives across the oil and gas value chain.

Earlier, the Acting Deputy Manager of NCCF, Engr Bright Amatoru, provided an overview of the forum’s activities, describing NCCF as a statutory collaborative platform established under Sections 57 and 58 of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act.

He explained that since its establishment in 2014, the NCCF had been engaging stakeholders across 12 SWGs to identify industry gaps, develop solutions and implement targeted interventions.

“Our function is to identify issues in the priority mapping and, beyond that, provide solutions through extensive stakeholder engagement,” Amatoru said.

Highlighting key achievements, Amatoru pointed to the development of National Operational Standards to harmonise capacity development initiatives across SWGs, as well as the Marine Assets Listing System, designed to build a comprehensive database of marine assets in the oil and gas industry.

He also referenced benchmarking studies in fabrication aimed at addressing scale gaps, alongside initiatives such as the Women in Oil and Gas Conference and mentorship workshop held earlier in the year in collaboration with the Diversity SWG.

However, he acknowledged that the absence of a clearly defined strategic framework limited the forum’s ability to prioritise interventions effectively.

“As of today, we have not had a very clear direction on how to select interventions. That clarity is critical as we align industry expectations with global best practices,” he said.

The retreat forms part of efforts by NCDMB to develop a comprehensive NCCF strategic roadmap aligned with the Board’s 10-year strategic plan and broader industry expectations.

Participants are expected to generate actionable ideas, refine governance structures and define a clear execution pathway that will enhance NCCF’s ability to deliver on its mandate within Nigeria’s oil and gas sector.

Renaissance MD, Tony Attah, to Speak at Nigerian Content Lecture Series April 9

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The Nigerian Content Development and Monitoring Board (NCDMB) has announced that Engr. Tony Attah, Managing Director of Renaissance Africa Energy Company Limited will speak at the next edition of the Nigerian Content Academy Lecture Series.

The lecture will hold virtually on Thursday, April 9, 2026, by 10am, and the renowned industry expert will speak on “Finding Funds for Effective & Efficient Local Content Initiatives – IPPG Perspective.”

Engr. Attah, who served previously as the Managing Director of Nigeria LNG Limited and Managing Director of Shell Nigeria Exploration and Production Company (SNEPCo) will bring his wealth of experience to bear on the lecture.

This highly anticipated lecture is part of the Academy’s ongoing commitment to advancing discourse, capacity building, and innovation within Nigeria’s local content ecosystem, particularly in the oil and gas and related sectors.

The lecture is designed to engage a broad spectrum of stakeholders, including industry professionals in oil and gas, energy, and manufacturing sectors, policy makers and government officials, finance professionals, local content practitioners and project managers.

Likewise, entrepreneurs and investors, academics, researchers, and students interested in local content development, financial institutions and development partners are encouraged to listen to the lecture via the zoom link: https://ncdmb-gov.ng.zoom.

The guest lecturer, a fellow of Nigerian Society of Engineers, is a distinguished industry leader with extensive experience in Nigeria’s oil and gas sector. Known for his strategic insights and leadership in driving indigenous participation. He brings a wealth of knowledge on sustainable funding models and effective execution of local content initiatives.

He has received several prestigious awards, including the Local Content Icon of the year in the 2025 Champions of Nigerian Content Awards, for leading major milestones including the final investment decision for NLNG Train 7 project.

The lecture will be held virtually, allowing participants from across Nigeria and beyond to attend seamlessly. The format of the lecture will include a keynote presentation by Engr. Tony Attah, interactive question and answer session, open engagement to foster knowledge sharing and collaboration.

The upcoming edition of the Nigerian Content Lecture is designed to provide practical insights into sourcing and managing funding for local content initiatives, highlight challenges and opportunities within the Nigerian content landscape, promote strategic thinking and innovation among stakeholders, and encourage collaboration between industry players, financiers, and policymakers.

Through this lecture series, the Local Content Academy seeks to strengthen local capacity and deepen indigenous participation in key sectors, bridge knowledge gaps in funding and project execution, build a community of informed and empowered local content practitioners, and support sustainable economic growth through effective local content implementation.

The Academy remains committed to creating platforms that drive meaningful conversations and actionable outcomes for Nigeria’s development.

Notable industry leaders who have spoken at the Nigerian Content Academy Lecture Series include the pioneer Executive Secretary of NCDMB, Engr. Ernest Nwapa, former Managing Director Seplat Energy and Chairman of AA Holdings and Board Member of Nigerian National Petroleum Company Limited, Engr. Austin Avuru, Executive Director at SLB, Mr. Nosa Omorodion, among several leaders.

 

 

 

CBN: Recapitalisation Process Rakes in N4.65tn to Strengthen Financial System Resilience as 33 Banks Scale Hurdle

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The Central Bank of Nigeria (CBN) announces the successful conclusion of the banking sector recapitalisation programme initiated in March 2024.

Over the 24-month period, Nigerian banks raised a total of ₦4.65 trillion in new capital, strengthening the resilience of the financial system and enhancing its capacity to support the economy.

The programme recorded strong participation from both domestic and international investors, with 72.55% of capital sourced locally and 27.45% from international markets, reflecting sustained confidence in the Nigerian banking sector.

Governor Olayemi Cardoso commented: “The recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well-positioned to support economic growth and withstand domestic and external shocks.”

Capital Strengthening and Financial System Resilience

The CBN confirms that 33 banks have met the revised minimum capital requirements established under the programme.

A limited number of institutions remain subject to ongoing regulatory and judicial processes, which are being addressed through established supervisory and legal frameworks. All banks remain fully operational, ensuring continued access to banking services for customers.

The programme has strengthened capital adequacy ratios (CAR), with the sector maintaining levels above international Basel benchmarks. Minimum CAR thresholds remain at 10% for regional and national banks and 15% for banks with international authorisation.

The recapitalisation, implemented alongside an orderly exit from regulatory forbearance, has improved asset quality, reinforcing balance sheet transparency and overall financial system stability.

Enhanced Prudential Oversight and Risk-Based Supervision

To safeguard these gains, the CBN has strengthened its risk-based capital adequacy framework, requiring banks to conduct regular stress testing across defined scenarios and maintain appropriate capital buffers.

Key regulatory measures, including prudential guidelines and the supervisory framework, are subject to periodic review to support ongoing strengthening of governance, risk management, and sector resilience.

Continuity of Operations and System Stability

The recapitalisation programme was carried out without disruption to banking services, ensuring continuous access for individuals and businesses throughout the process.

The successful completion of the programme establishes a stronger and more resilient banking system, better positioned to support lending, mobilise savings, and withstand domestic and global shocks.

The Central Bank of Nigeria remains committed to maintaining a stable, transparent, and resilient financial system that inspires confidence among depositors, investors, and the broader public, and to advancing the sustainability of the nation’s financial architecture.

 

Middle-East Crisis: How Tinubu’s Policy of Naira-for-Crude Guarantees Supply Security in Nigeria

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By Temitope Ajayi

President Bola Tinubu demonstrated foresight in July 2024, when he approved the use of the naira as the payment currency for crude oil supplied by the NNPC to the Dangote Refinery.

Since the launch of the naira-for-crude initiative on October 1, 2024, Nigeria has experienced a strategic breakthrough amid the ongoing economic turmoil resulting from the Iran-Israel-US conflict in the Middle East.

Since its inception, the technical committee on naira-for-crude, which has the Minister of Finance and Co-ordinating Minister of the Economy, Wale Edun and Executive Chairman of the Nigerian Revenue Service, Zacch Adedeji and others as members, the Federal government has developed a robust framework that has ensured the Presidential initiative continues to deliver on its core objectives by maintaining supply security, stabilising the economy, and safeguarding Nigeria’s energy future.

The US/Israel-Iran war has now entered its 6th week, triggering global economic chaos. With no immediate end in sight, the conflict has been exacerbated by Iran’s closure of the Strait of Hormuz, an important maritime corridor between the Persian Gulf and the Gulf of Oman, that accounts for over 20% of global oil and gas flows. The disruption of this vital waterway has sent shockwaves through energy markets worldwide.

Across Europe, the United States, Asia, Africa, and the Middle East, prices for LPG, LNG, PMS, and diesel have skyrocketed, placing enormous pressure on households and governments alike.

The rising costs of energy have intensified economic strain on many nations, especially those with limited resources, where transportation and basic goods are becoming increasingly unaffordable.

While the cost of PMS and other petroleum products has also gone up in Nigeria, as in other countries, the global energy crisis has not led to a domestic scarcity of petroleum products, unlike in major countries where people are standing in long queues for days at gas stations. Many countries in Europe, Asia, and major African countries, such as South Africa and Kenya, now rely on supplies from Nigeria through the Dangote Refinery.

The Dangote Refinery, located in Lekki, Lagos, has validated the strategic importance of local production and refining capacity for a country as critical as Nigeria, a regional economic powerhouse. There is no doubt that the ongoing conflict in the Middle East has exposed critical vulnerabilities in the global energy supply architecture.

The conflict has constrained crude oil and refined product availability, triggering acute shortages and sharply rising energy costs across many markets. Countries that historically depended on the import of refined products are currently experiencing disruptions to their supply chains, with immediate and visible consequences.

A few examples: Vietnam is encouraging people to work from home to reduce transportation costs. The Thai government has ordered civil servants to conserve energy in public buildings and is considering whether to compel private businesses to do the same.

Bangladesh told universities to close early for a holiday and imposed daily limits on fuel sales. Pakistan has implemented emergency measures, including a four-day government work week and temporary school closures, to conserve energy. Indian restaurants are closing their doors due to LPG scarcity. In Egypt, shops and restaurants are mandated to close by 9 pm every day as part of the government’s exceptional measures to combat soaring energy prices.

In the Philippines,  the government has declared a national energy emergency. In parts of the United States, Americans join long queues to buy fuel.

Fortunately, the Dangote Refinery has largely shielded Nigeria from the worst effects of the global supply crisis. By scaling up production at a critical time before the escalation of the conflict, the refinery has met Nigeria’s refined products requirements.

Even in the face of more attractive export options, the Dangote Refinery committed to prioritising Nigeria’s energy security. This commitment has ensured full availability of petroleum products with zero queues, while other countries grapple with scarcity.

While the price of petroleum products has had to go up, this is being managed to reduce the impact on Nigerians. For example, despite a 10% increase in crude oil prices over the last couple of days, the Refinery has cut petrol prices by 75 Naira per litre.

This was done, even though the refinery is paying an additional premium of up to $18 per barrel for Nigerian crude oil cargoes. This is the benefit of local refining.

The Dangote Refinery is transforming Nigeria into a more resilient and energy‑independent nation, providing all‑year‑round availability of petroleum products and enabling the country to withstand external shocks better.

Petrol queues, even during festive seasons, have disappeared since the Refinery commenced PMS production in Oct 2024. What is perhaps not visible to many Nigerians is how this was achieved while simultaneously eliminating the huge demurrage bill that NNPC used to incur in maintaining safety stock on several floating vessels.

Furthermore, the ongoing crisis has positioned Nigeria as a strategic and credible exporter to Africa – a role with long-term commercial and diplomatic significance as African governments seek more resilient and integrated energy supply arrangements.

Since the conflict began, the Dangote Refinery has ramped up exports to Africa in a bid to help shore up supply across the continent. In March, the refinery exported close to 500,000 tons of refined products to various African countries, generating export earnings for Nigeria.

This underlines the importance of local production and the need for Africa’s industrialisation as championed by the Dangote Group.

Not only does local production create and sustain jobs for thousands of people, preserve foreign exchange, and stimulate other sectors of the economy, but more importantly, as we have seen, it insulates the country from global volatility, supply disruptions, and geopolitical risks that continue to batter import-dependent economies in times of stress.

The Dangote Refinery is more than an industrial asset; it is the foundation of Nigeria’s energy sovereignty and a catalyst for sustainable economic growth.

 

-Ajayi is the Senior Special Assistant, Media and Publicity to President Tinubu.

Truecaller Crosses 500m Users: Sets a New Global Standard for Trusted Communication

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Truecaller, the leading global platform for safe and trusted communication, today announced that it has surpassed 500 million users worldwide, marking a significant milestone in the company’s mission to build trust in communication.

The platform continues to see significant user growth, adding over 50 million users in 2025, and has surpassed 150 million users outside of India as demand for protection against spam, scam and unwanted communication continues to grow globally.

Truecaller also crossed 4 million paying subscribers globally earlier in the year, further strengthening one of its key revenue streams.

Crossing the 500 million mark underscores how trust has become one of the most essential layers in digital communication today.
“This is an important milestone for us, but it also says something bigger about the world we live in,” said Rishit Jhunjhunwala, CEO of Truecaller.

“More and more people need help navigating spam, scams, and unwanted communication every day. Reaching 500 million users shows the scale of that need, and the trust people place in Truecaller to help make communication safer. Our commitment remains focused on continuously strengthening Truecaller with smarter technology and new capabilities that protect users before, during, and after every call or message. Ultimately, our aim is to build a safer, more trusted communication ecosystem for everyone. We now have our sights set on the next milestone: 1 billion users.”

With half a billion people using the platform every month, Truecaller has evolved beyond just Caller ID. It has become an essential part of how communication works safely in the digital age; a daily-use trust layer that helps people verify identities, avoid fraud, and make informed decisions about who they interact with.

Today, Truecaller operates as a global digital utility platform, embedded into everyday communication habits for hundreds of millions of people. From identifying unknown callers to preventing fraud and enabling safer messaging, the platform has become a habitual, daily-use service that supports safer interactions across the phone ecosystem.

Despite serving more than half a billion users globally, the company remains relatively lean, with a team of approximately 470 employees building and operating the platform for users around the world.

The company will continue to report the average number of monthly and daily active users on a quarterly basis in connection with its interim financial reports.

 

About Truecaller:
Truecaller is an essential part of everyday communication for over 500 million active users worldwide, with more than one billion downloads since launch and 68 billion spam and fraud calls identified in 2025 alone.

The company is headquartered in Stockholm and has been publicly listed on Nasdaq Stockholm since October 2021.