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BUA Cement Plc, Nigeria’s second-largest cement producer, has reported a surge in its bottom line, with its after-tax profit increasing more than five times for the nine months ended September 30, 2025.

The company posted a profit after tax of N289.86 billion for the nine months in 2025, a 492 per cent increase from the N48.97 billion recorded in the corresponding period of 2024.

The ultimate driver of the profit explosion was the net exchange gain/(loss) line item. The company recorded a gain of N21.63 billion in 2025, representing a monumental positive swing from the crippling N57.44 billion loss recorded in 2024.

The company’s rise in revenue was also a major contributor to its success story for the nine months, increasing by 47.2 per cent, rising from N583.41 billion in 2024 to N858.73 billion in 2025. This increase was primarily driven by strong cement demand, coupled with price adjustments to mitigate domestic inflation.

Notably, the 6.6 per cent growth in cost of sales was significantly slower than the revenue growth, resulting in a substantial gross profit of N429.26 billion, a 137.4 per cent increase. This operational leverage expanded the operating profit to N365.62 billion, up 165.3 per cent.

Offsetting these gains, net finance costs ballooned by 165.6 per cent to N46.15 billion. This was due to a rise in gross finance costs to N56.09 billion, from N32.03 billion, reflecting the impact of higher interest rates on the company’s borrowing portfolio.

The cement manufacturer disclosed in its results that the operating profit before working capital changes had risen significantly to N398.62 billion, compared to N169.82 billion in 9M’2024. This confirms the underlying strength of the core business.

However, the net cash inflow from operations was heavily restricted by major outflows in working capital. The company saw a massive decrease in trade and other payables and an equally large decrease in contract liabilities (N56.51 billion and N76.49 billion, respectively).

This movement signifies that the company utilised a large portion of its operating cash flow to settle outstanding obligations to suppliers and to deliver goods against prior customer prepayments, which restricted the net cash generated from operations.

Nevertheless, the firm’s ability to still increase its overall cash balance to N154 billion from N84 billion is a testament to the magnitude of the core operating profitability and the FX-driven profit, which contributed to the high starting point of the cash flow calculation.

BUA Cement’s total assets stood at N1.63 trillion, with its liabilities rising to N1.02 trillion, thereby bringing the company’s equity position to N608 billion, a 66 per cent increase from the N366 billion reported in the same period of last year.

During the period, the firm’s market capitalisation stood at N6.9 trillion, with its share price rising by 93 per cent year-to-date.

The Ministry of Culture and Tourism and the Oyo State Police Command have reaffirmed their commitment to strengthening collaboration for improved security across the State, especially as the state anticipates a vibrant festive season and increased tourist activity.

This renewed partnership followed a courtesy visit by Wasiu Olatunbosun, the Commissioner for Culture and Tourism to Femi Haruna, Oyo State Commissioner of Police.

During the meeting, discussions centred on the critical role of security in creating a conducive environment for social and economic development, particularly within Oyo State’s fast-growing entertainment and tourism sectors.

Olatunbosun expressed appreciation for the Police Command’s ‘steadfast dedication to maintaining peace and stability,’ noting that these efforts are instrumental in positioning Oyo State as a leading destination for tourism and investment. He added that upcoming events including the Ember Month celebrations and other major programmes planned for the new year are expected to attract large numbers of visitors, boosting hospitality businesses and driving significant economic activity through sightseeing and cultural experiences.

Responding, Haruna assured the Commissioner of the Command’s unwavering readiness to ensure safety and order throughout the State. He emphasised the importance of sustained collaboration between law enforcement and cultural institutions, pledging to enhance collaboration with the Ministry to maintain robust security during the busy festive period.

The joint initiative aims not only to reinforce safety but also to harness the full potential of Oyo State’s culture and tourism sector as a driver of economic growth and community development.

The high level meeting was attended by senior officials, including Femi Haruna, (Commissioner of Police, Oyo State Command), Wasiu Olatunbosun (Commissioner for Culture and Tourism), Joke Agboola (Acting Permanent Secretary, Ministry of Culture and Tourism); Belumi Agboola (General Manager, Council of Arts and Culture), DCPs Abiodun Onuoha, James Ekanem, ACP Martins Bamigboye, and other members of the Culture and Tourism management team.

The plan by the Federal Government to boost oil palm industry in some key states was said to have hit the rocks in Rivers State. This is said to have caused a crash of the oil palm industry in the hydrocarbon headquarters.

Now, the Nigerian Export Promotion Council (NEPC) is seen to reactivate the oil palm industry to make it an export product to earn foreign exchange.

The outcry was rendered at a workshop by the South-South Regional Office of NEPC to strengthen oil palm export clusters for global competitiveness and airfreighting held in Port Harcourt on Tuesday.

Erasmus Chukunda, the Rivers State Chairman of the Oil Palm Growers Association of Nigeria (OPGAN), who has been in the oil palm industry for decades, said the plan to boost oil palm industry in 2018 got stock in Rivers State.

He said the FG had asked selected States to provide 100 hectares of land each to form the base of a huge loan package from the Central Bank of Nigeria (CBN) to help meet a one million metric tons per year (1mmtpy) shortfall in palm oil consumption.

Oil Palm industry value chain practitioners and exporters at the NEPC workshop in Port Harcourt Tuesday, October 28, 2025

He said the CBN was providing $600m per year to support import of palm oil but that the FG frowned at it, thus prodding the apex bank to seek local production. Chukunda, who was Director-General of the Port Harcourt Chamber of Commerce (PHCCIMA) for many years said Rivers State then did not do much but later provided 10,000 ha.

To the chagrin of the over 6,000 OPGAN members in the State, the paltry 10,000ha was never handed to the Association to start massive growing of oil palm plantation as the Federal Government envisaged.

He said the members went ahead to secure $700m from the CBN and used it to set up some plantations, 10 milling clusters, etc. He said: ‘Let the Rivers State government hear it, that they did not do anything to help oil palm industry in the CBN and FG scheme. ‘Rivers State was number one in oil palm industry, today, Edo State has taken over just the way Nigeria fell off the first spot to Indonesia. Rivers State has fallen off because the state for years has not been responsive.’

He however said he remained hopeful now that Governor Sim Fubara is back to seat. His optimism seemed to get some lift when Joe Johnson, the newly assigned Commissioner of Commerce and Industry, who was commissioner of information and communications until the suspension, said to the large audience that the State Government is keen to act.

Chukunda said how much he believed Johnson, thus: ‘We are sure that by the return to the office, our Governor HE Siminalayi Fubara, will attend to OPGAN needs as indicated by the new Commissioner for Commerce and Industry in his goodwill message at the just concluded Nigerian Export Promotion Council, South-South Regional Office One Day Workshop on ‘Strengthening Oil Palm Export Clusters for Global Competitiveness and Airfreighting’ in Port Harcourt.

In his welcome remarks, Benedict Itegbe, Regional Coordinator, South-South Regional Office of NEPC, said the workshop was basically to set agenda. ‘The workshop will focus on enhancing the capacity of stakeholders in the oil palm export value chain, understanding quality certifications, market access requirements, and exploring strategies for engaging international buyers.’

Itegbe, an architect, said the workshop was to help reroute export point to Port Harcourt International Airport. He said Lagos airport for now accounts for over $150m worth of goods per year now, while Port Harcourt airport does about 5% of that.

He also said the event was to also unveil the partnership between NEPC and Fidelity Bank. ‘We are working to strengthen non-oil export in the south-south. It will lead to a communique that would point to a roadmap for export boost in the zone.’

He later presented a paper on marketing strategies around the world.

In his goodwill message, Dogara Sagbere, Rivers State chairman, Nigerian Association of Small, Medium Enterprises (NASME), said NEPC is the most active government agency they know. ‘If all other agencies were to work like them. NEPC facilitated a grant to us three years ago, and it helped our members a lot.’

Speaking online, Nana Wanjua, Chief Gender Officer, Pan Africa Chamber of Commerce in Ethiopia office, said she was a real estate expert practitioner and a hotelier. She told women participants to be more enthusiastic and study harder, saying she failed at a point because she did not train well in it.

‘Now I am back to studying and I urge all women to always study. Create work-life-balance or work-life integration. I now travel with either my husband or with my two sons. Also create giving to others and to humanity as a way of life.’

Celebrations, a brand rooted in helping people express their hearts through gifts and meaningful gestures, is making waves with Project Advance, its flagship sustainability initiative designed to uplift female entrepreneurs and build stronger, more connected communities.

At the heart of Project Advance is a simple but powerful belief: when women rise, communities thrive. With this guiding principle, the initiative provides women-owned small businesses with access to vital resources, expert mentorship, and real-world market opportunities. it’s a movement, grounded in Celebrations’ mission and aligned with the United Nations Sustainable Development Goal 8: Decent Work and Economic Growth.

Since its launch, Project Advance has already empowered over 50 female entrepreneurs and helped scale more than 70 small businesses. These efforts have led to the creation of more than 100 new jobs, while participating businesses have seen an 85 percent increase in sustainability. These achievements reflect the initiative’s commitment to fostering long-term success and resilience among women-led ventures.

Through personalized support, immersive workshops, and a vibrant community of like-minded business leaders, Project Advance is helping women not only grow their enterprises but also share their stories: stories of strength, vision, and heart.

‘This is just the beginning,’ at Celebrations CEO, Dele Balogun said. ‘We remain committed to creating meaningful pathways for women to thrive, express their purpose, and build legacies that touch lives across generations.’

As Project Advance continues to grow, Celebrations is redefining sustainability, putting people, purpose, and empowerment at the center of lasting impact.

Nestlé Nigeria Plc has reported a net profit of N72.5 billion for the first nine months of 2025, marking a sharp turnaround from the N184.3 billion net loss recorded during the same period in 2024.

The company’s revenue climbed to N884.5 billion in the nine months, a 33 percent year-on-year increase from N665.3 billion in 2024. Cost of sales also rose by 21.5 percent to N557.7 billion. Despite this, Nestlé’s gross margin improved to 37 percent, up from 31 percent in the previous year, as higher product prices helped boost revenue growth.

The improvement underscores a broader trend of earnings recovery among consumer goods firms. These firms are benefitting from FX market stability and the transfer of rising costs to consumers in 2025.

FX gains drive recovery

A significant highlight in Nestlé’s turnaround is the N20.8 billion net foreign exchange gain in 9M 2025. This marks a full reversal from the N285.3 billion FX loss recorded in 9M 2024.

The gain sharply reduced the company’s net finance costs, which fell from N366.2 billion to N53.4 billion within a year. It also shows how the recent normalisation of Nigeria’s FX market, supported by new monetary policies, has eased pressure on the balance sheets of import-dependent manufacturers. The company’s pre-tax profit surged by 150 percent YoY to N128 billion, from a pre-tax loss of N255.4 billion in 9M 2024.

Pre-tax profit jumped to N128 billion, a 150 percent increase compared to the pre-tax loss of N255.4 billion in 2024. Earnings per share stood at N91.44, translating to a price-to-earnings ratio of 15.75x, a sign of renewed investor confidence in the company’s fundamentals.

Margins narrow in Q3

For the three months ending September 2025, Nestlé recorded N303.4 billion in revenue. This represents a 17.5 percent rise from N258.3 billion in the same period last year. Gross profit climbed 29 percent during the quarter, again driven by higher pricing rather than stronger sales volume.

Net income rose to N21.9 billion, compared to a N7.4 billion net loss a year earlier. However, the company’s Q3 profit margin stood at 7.2 percent, below the nine-month average of 8.2 percent. The weaker margin points to some operational inefficiencies and cost pressures in the quarter. Debt reduction strengthens balance sheet

Nestlé maintained a disciplined approach to debt management. Total assets declined slightly by 1.3 percent to N847.3 billion, from N858.7 billion at the start of the year. Liabilities dropped by 9 percent to N867 billion, reflecting reduced borrowing and lower financial obligations.

The company spent about N259.2 billion on interest and loan repayments during the period. Total borrowings fell to N521 billion from N653.7 billion at the beginning of 2025. This deleveraging helps lower future finance costs and supports a stronger cash position.

Capital expenditure stood at N69.5 billion, underscoring ongoing investments in capacity expansion and supply chain efficiency.

Tragedy struck the University of Jos (UNIJOS) community over the weekend as a 300-level student of the Department of Banking and Finance, identified as Peter Mafuyai, was allegedly macheted to death and buried in a shallow grave by his friend and fellow student, Nanpon Timnan, a 200-level student of the Department of Agriculture.

The incident occurred at Rurso, an off-campus community where both students resided. Witnesses said the two were close friends and were often seen together, making the incident even more difficult for students and neighbours to comprehend.

According to findings, the pair had spent the day together, first playing football, then visiting a music studio for a recording session before returning home later that evening. It was shortly after their return that the situation reportedly took a tragic turn.

Sources within the neighbourhood told BusinessDay that Nanpon allegedly went to retrieve a machete upon arrival at their residence. When questioned by other occupants of the compound about his intention, he claimed he needed it for something unspecified. Moments later, he allegedly struck his friend with the weapon, leaving him lifeless on the spot.

Alarmed by the sudden act, other residents reportedly raised an alarm and ran out to call for help. By the time they returned, the suspect had allegedly buried Mafuyai’s body behind the house in a shallow grave, sparking outrage and panic in the community.

A police source said operatives from the Plateau State Command were alerted immediately and have since launched a full-scale investigation into the matter.

‘All friends and close associates of the deceased have been invited for questioning as part of ongoing efforts to unravel the motive behind the killing’; the source said.

While the reason for the attack remains unclear, a source hinted that it might not be unconnected with a disagreement related to the music project the duo had been working on prior to the incident. However, authorities have yet to confirm this speculation.

At the time of filing this report, Alfred Alabo, the Police Public Relations Officer (PPRO), Plateau state command was yet to make an official statement regarding the incident.

Reacting to the tragic development, the University of Jos Management expressed deep sadness and extended condolences to the family, friends, and colleagues of the late Mafuyai.

In a statement signed by Rejoice James Songden, the Registrar, made available to Journalists on Monday evening in Jos, the institution clarified that the incident occurred off campus, not within university premises, contrary to reports in some quarters.

The University further disclosed that the 2024/2025 academic session had ended on August 30, 2025, and students were not in session at the time of the incident.

The statement assured parents and the public that adequate security measures remain in place to safeguard lives and property within the University environment.

The University also pledged to cooperate fully with law enforcement agencies to ensure that justice is served and that such tragic incidents do not recur, reaffirming its commitment to maintaining a safe, peaceful, and secure atmosphere for learning and research.

The statement reads ‘The Vice-Chancellor, on behalf of the Council, Management, Staff and Students of the University expresses his heartfelt condolences to the family, friends, colleagues of the deceased student and prays for God’s comfort and strength to bear the loss during this painful period.

‘The Management wishes to clarify that the said incident occurred off campus, not within the University premises, as erroneously reported by some media outlets. It further explained that the University has since completed the 2024/2025 academic session, since 30th August, 2025; therefore, students were not in session at the time of the incident. Students are expected to resume the 2025/2026 academic session on the 10th November, 2025,’ the statement reads in part.

ýAhead of the All Progressives Congress (APC) Governorship primary election slated for December 13, 2025 in Osun State, party youths and leaders have thrown their weight behind Bola Oyebamiji, Managing Director of the National Inland Waterways Authority (NIWA) as their preferred candidate for the 2026 poll.

ýA large crowd of supporters on Tuesday held a solidarity rally in Osogbo, marching from the City Stadium through major streets to the Ileri-Oluwa campaign office along Ibadan Road to declare support for the former Commissioner for Finance.

ýSpeaking after the rally, Adebayo Adeleke, former Commissioner for Local Government and Chieftaincy Affairs, who led the rally, said the turnout reflected the growing consensus within the party that Oyebamiji is best positioned to lead the APC to victory.

ýHe stated, ‘All aspirants within the party are competent, but Oyebamiji stands out as the only one capable of winning the election for the APC.’

ýAdeleke expressed confidence that the rally demonstrated their readiness for the primary election, assuring attendees that the APC would secure victory in the 2026 Governorship race if Oyebamiji is chosen as the candidate. ‘This is an unsolicited support for Asiwaju Bola Oyebamiji. The crowd is real. Osun people, members of APC, are coming out to say we do not want to be robbed. This is the man who can send the dancing governor packing from Abere,’ he declared.

ýHe highlighted the impressive turnout in the State capital, noting that if they mobilised supporters from all Local Governments, Osogbo would be completely filled with Oyebamiji’s supporters.

ý’We are prepared for the primary election, any day, anytime. There is no aspirant in the APC who is not competent, but Bola Oyebamiji is above all when it comes to APC. He is more acceptable, knowledgeable, and a financial expert. He is the one who can strengthen Osun’s economic situation,’ Adeleke said.

ýHe criticised the current administration’s handling of federal funds, saying, ‘We are receiving significant amounts from the federal government, but there is little to show for it, aside from unfinished projects. We need someone like Oyebamiji who can reshape the economic landscape and put Osun on a solid footing.’

ýTimothy Owoeye, the former speaker of the Osun House of Assembly, said the unity walk was to tell the people that Asiwaju Munirudeen Bola Oyebamiji (AMBO), remains the only aspirant that APC should be looking at come 2026.

ýAlso, Kehinde Ayantunji, a former SSA, stated that the road show was to tell the party leaders that Oyebamiji has the majority and he is the most competent and the most acceptable.

Nigeria’s healthcare system is on the verge of collapse, as health workers are yet to receive the salaries, allowances, and welfare packages promised by the federal government, resident doctors said, while appealing to President Bola Tinubu to intervene and address the situation.

Resident doctors, who constitute the bulk of Nigeria’s healthcare workforce, decried the current situation, describing it as a national emergency and a matter of national security.

In an open letter to the President titled, ‘A passionate appeal to the Commander-in-Chief of the Federation’ signed by Mohammad Suleiman, president, Nigeria Association of Resident Doctors (NARD), the association urged the president to ignore statements that doctors’ demands have been addressed.

According to the association, the statement is not accurate as the reality in hospitals tell a different story of struggling doctors who are denied basic legitimate entitlements, despite several signed agreements and repeated assurances from government representatives.

Meanwhile the resident doctors have already begun ward rounds and patient handovers in preparation for a planned nationwide, total, and indefinite strike beginning on Saturday, 1 November 2025.

The letter read, ‘Your Excellency Sir,

Warm greetings to you from the entire body of Resident Doctors in Nigeria; a vital group of young medical professionals who provide specialist care and constitute a significant portion of the nation’s healthcare workforce.

‘We write to you today with deep concern and a profound sense of duty to draw your urgent attention to the worsening state of Nigeria’s health sector. Our healthcare system, Sir, is on the verge of collapse, a situation that has now assumed the dimensions of a national emergency and a matter of national security.

‘Your Excellency, we are aware that some individuals around you may have assured you that the challenges facing resident doctors have been resolved. Respectfully, Sir, that information is not accurate. Our realities in the hospitals across Nigeria tell a different story. Many of our members are yet to receive their legitimate entitlements, despite several signed agreements and repeated assurances from government representatives.

‘We are not politicians. We are doctors; men and women devoted to saving lives, working long hours in often harsh and under-resourced conditions. Our appeal is simple and sincere: we seek not luxuries, but the basic salaries, allowances, and welfare packages that have already been approved and promised by government.

‘Sadly, while many in privileged positions continue to receive their full emoluments without delay, the frontline doctors who shoulder the burden of patient care are left struggling. This inequity is demoralizing and threatens the very foundation of our healthcare delivery system.

‘Mr. President, you have always been known for your compassion, fairness, and courage in addressing difficult national challenges. We therefore appeal to your fatherly leadership to personally intervene and resolve the long-standing 19-point demands of the Nigerian Resident Doctors in order to restore hope, trust, and stability to our health sector.

‘We believe that under your decisive leadership, Nigeria’s health system can once again stand strong to serve our people with dignity and save countless lives.

‘May God grant you the wisdom, strength, and goodwill to act swiftly in the interest of all Nigerians. Thank you Your Excellency for your kind attention and anticipated action.’

Ten-time African champions, the Super Falcons of Nigeria, have secured qualification for the 2026 Women’s Africa Cup of Nations (WAFCON) in Morocco after a 1-1 draw with the Benin Republic in the return leg of their final qualifying fixture in Abeokuta on Tuesday, completing a 3-1 aggregate victory.

The encounter was fiercely contested, with the Beninoises showing grit and determination through the lively duo of Dossi Germaine Honfo and Yenido Romaine Gandonou, who constantly troubled Nigeria’s defence. However, the Super Falcons’ experience and composure shone through. Nigeria took the lead in the 13th minute when defender Ashley Plumptre rose highest to head home Esther Okoronkwo’s corner.

The Super Falcons continued to press, with Asisat Oshoala and Michelle Alozie coming close to extending the lead before halftime. Benin, however, found their rhythm after the break and drew level on the hour mark through Yasminath Djibril, whose superb free-kick sailed beyond goalkeeper Chiamaka Nnadozie.

Despite several late chances, the Super Falcons held firm to ensure qualification for next year’s continental showpiece.

The result sees Nigeria book their place at the 2026 WAFCON in Morocco, where they will aim to defend their crown, chase an 11th continental title, and secure a ticket to the 2027 FIFA Women’s World Cup in Brazil.

Idi Mukhtar Maiha, minister of Livestock Development, has lauded the Katsina State Government for its forward-thinking policies in the livestock sector, pledging the federal government’s full support for the state’s ongoing reforms and investment programmes.

Mukhtar gave the commendation on Monday, when Dikko Umar Radda, governor of Katsina State, led a delegation on a courtesy visit to the Ministry in Abuja.

He praised the state for creating a dedicated Ministry of Livestock Development, launching a women-focused goat rearing empowerment scheme, and establishing a modern meat processing plant geared towards export promotion.

The minister noted that Katsina is among 18 states that have set up livestock ministries, describing the state’s initiatives as key to transforming Nigeria’s livestock economy.

‘We want to fine-tune what we are doing to meet international standards optimally in Katsina State. Our focus is on livestock investment that will translate into a sustainable livestock economy,’ Mukhtar said.

He further assured that the federal government would support the establishment of cattle corridors and disease control points across the state to ensure proper certification of animals transported across states and international borders.

Mukhtar also emphasised the importance of sensitising farmers and herders, stressing that both groups must work in partnership to foster peace and productivity. He called for the restoration of grazing reserves in Katsina to enhance feed and fodder availability and reduce cattle movement.

In his remarks, Radda revealed that his administration had invested about ?5.6 billion in the first phase of the goat rearing empowerment programme, which has significantly improved women’s livelihoods across the state.

‘Apart from women selected from each ward, we identified one large-scale farmer per ward and provided them with 50 goats each. The repayment model is not monetary – after two years, beneficiaries return the same number of goats received to enable others to benefit. We now have a success rate of about 70%,’ Radda explained.

He added that the establishment of the Katsina State Ministry of Livestock Development aligns with his government’s broader agenda to boost food security, promote peace, and protect lives and property.

In her closing remarks, Chinyere Ijeoma Akujobi, permanent Secretary to the ministry, commended the Katsina State Government for its strong commitment to livestock development and pledged continued federal collaboration.