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Barcelona have announced a post-tax loss of pound 17 million for the 2024/25 financial year, marking a significant improvement from the pound 91 million loss reported in the previous season.

While this represents the club’s second consecutive year of losses, overall revenue has soared, reflecting a period of strong commercial performance amid ongoing financial restructuring and the massive Spotify Camp Nou renovation project. According to the club’s official financial report, Barcelona’s total revenue hit pound 994 million ($1.16 billion), up pound 100 million from the previous year, boosted by a series of key factors, including:

A lucrative 14-year, pound 1.7 billion partnership with Nike, strong merchandising sales, UEFA Champions League run and sell-out crowds at the Olympic Stadium during Camp Nou’s renovation

Despite the temporary relocation from Camp Nou, matchday revenue rose by pound 39 million, while sponsorship income reached a record pound 259 million. Merchandise sales also surged by 55%, totalling pound 170 million, driven by the global expansion of Barça’s e-commerce operations in more than 170 countries.

The club’s finances, however, remain under the strain of its Espai Barça project, which includes the redevelopment of Spotify Camp Nou.

The construction loans and rising interest costs have made the balance sheet a delicate juggling act between progress and prudence.

When the Camp Nou reopens at full capacity, it is projected to inject an additional pound 50 million ($58m) in annual revenue, likely pushing Barcelona’s income above the pound 1 billion mark for the first time.

Despite the ongoing challenges, club president Joan Laporta insists the latest results show ‘consolidation, not crisis.’

‘The reduction in debt and wage control places Barçelona in a strong position to face the new season,’ the club said in a statement. ‘We project more than pound 1 billion in ordinary revenue and expect to maintain positive results for the third consecutive year.’

The club reported a pound 90 million reduction in debt, bringing the total down to pound 469 million. Meanwhile, wages now account for 54% of revenue, keeping Barcelona well within UEFA Financial Fair Play limits.

Other notable developments include:

The revaluation of Barça Productions to pound 178 million.

Over pound 70 million raised through the sale of Personal Seating Licenses (PSL).

Settlement of UEFA Financial Fair Play breaches with a pound 15 million fine

Laporta and sporting director Deco are now tasked with maintaining financial discipline while maximising performance. The club’s famed La Masia academy continues to play a crucial role in cost control and talent development.

‘A couple more Lamine Yamals, and the Camp Nou will pay for itself,’ one club insider quipped, highlighting the academy’s role in balancing the books.

Barcelona also underlined its expanding global reach, noting that its YouTube channel now leads all sports organisations worldwide with over 24 million subscribers and record-breaking digital engagement, including 9.7 million unique viewers during the recent Joan Gamper Festival.

With financial discipline improving and commercial revenue at all-time highs, Barcelona appear to be stabilising, even as the club continues to walk a fine line between ambition and austerity.

The Nigerian Economic Summit Group (NESG) has said that promoting industrialisation and implementing policies that encourage regional trade are crucial steps toward achieving Nigeria’s $1 trillion economy target by 2030.

Olaniyi Yusuf, Chairman of the Group stated this in Abuja on Wednesday, during a press briefing to mark the close of the 31st edition of the Nigerian Economic Summit.

According to him, it has become imperative for government to coordinate policies and ensure they harmonise with the broader West African region, for easy movement of goods and services and persons across the continent.

For him, there is need for Nigeria to focus on the processing of raw materials.

‘One of the policies that was mentioned is an African mobility-free movement, or easy movement of goods and services and persons across the continent. That is important.

‘Trade is critical, industrialisation is also critical for us to become a $1 trillion economy. So we’ve got to industrialise, we’ve got to move from agriculture to be able to process the output of our farms and become a country that exports not just raw materials, but process the goods and services where incredible value has been added.

Yusuf also reiterated the need for Nigerians to protect and support investors, especially domestic investors. ‘The way we treat domestic investors sends a signal of how we treat other investors. And so from the NESG, we call on governments, labor, civil society, and Nigerians as a whole, that we all should warmly embrace investors. ‘We all should protect investments. And if we do that, everybody benefits. The government benefits in terms of IGR, individuals benefit in terms of decent work and income, communities benefit, everyone benefits,’ he said.

In his remarks, Sampson Ebimaro, permanent secretary, ministry of budget and economic planning, said that the annual summit is critical for policy making, adding that there was need to set targets to drive effective implementation of policies generated.

‘Going forward, we need to set targets and say between now and 5 or 10 years time, this is what we want to achieve working with government. With that said, anyone can look at Nigerian Economic Summit Group and say, yes, we do have a goal, we have a target, and this is how far we have come,’ he said.

Also speaking, Tayo Aduloju, chief executive officer of NESG said that the summit, in the past 30 years has been instrumental in shaping government’s policies.

If you’re planning to grow your business or launch a new venture, Canada is one of the most welcoming and stable markets to consider. Whether you’re a Canadian entrepreneur or an international company looking to expand, the country offers unique benefits that promote long-term development. From its strong economy to an inclusive workforce, Canada continues to be a top destination for business investment.

Let’s explore six major advantages of operating a business in Canada and how they can support your success.

1. Canada is Geographically Strategic

Canada’s physical location makes it a powerful hub for global commerce. Surrounded by the Atlantic, Pacific, and Arctic Oceans, the country acts as a natural link between North America, Europe, and Asia. Its logistics network is impressive,boasting more than 550 ports, over 1,000 airports, and hundreds of heliports. These connections allow businesses to transport goods quickly and efficiently both locally and internationally.

Cities like Toronto, Montreal, and Vancouver are within easy reach of major U.S. and European financial centers. This closeness reduces travel time, cuts shipping costs, and simplifies international partnerships. On top of that, Canada’s highways and railways form a reliable infrastructure that ensures products can be moved across provinces without hassle. For any business that depends on timely deliveries or global reach, Canada’s accessibility is a major plus.

2. Canada Has a Strong and Resilient Economy

Stability is one of Canada’s biggest draws for businesses. The country has a steady economy with consistent growth, a low inflation rate, and a secure banking system. Even during tough times like the COVID-19 crisis, the government acted swiftly with financial support and vaccine programs that helped businesses stay afloat and recover faster.

This dependable environment gives business owners peace of mind. You can expect well-maintained public services, reliable utilities, and a market that holds up under global pressure. With the Canadian dollar seen as a trustworthy currency and wages staying competitive, it’s a favorable setting for both companies and their employees. This stability reduces risk and allows entrepreneurs to plan for the long term.

3. Corporate Taxes are Business-Friendly

One of the biggest financial perks of doing business in Canada is its competitive corporate tax structure. Compared to other major economies in the G7, Canada offers one of the lowest overall tax rates for corporations. For business owners, this means keeping more of your profits and having more capital available to grow, innovate, or reinvest in operations.

In addition, Canada doesn’t charge a repatriation tax on foreign-earned profits thanks to its territorial tax system. The tax environment encourages companies, whether domestic or international, to expand within the country. Lower taxes help reduce overall expenses, giving businesses a stronger financial foundation to scale and compete.

4. Canada Offers a Highly Skilled and Diverse Workforce

Canada is home to a well-educated, capable, and culturally diverse population. Businesses in Canada benefit from a broad talent pool that includes professionals in technology, healthcare, finance, engineering, and more. The government supports workforce growth through training programs, development incentives, and easy access to labor market resources.

What sets Canada apart is its diversity. Almost one in four people living in the country were born abroad, and over 20% identify as racialized or Indigenous. This multicultural background leads to fresh perspectives, stronger innovation, and access to multilingual employees, qualities that are especially useful when entering global markets. Businesses that want to think outside the box and reach diverse customer bases will find Canada’s workforce a major asset.

As an example of Canada’s openness to new industries, the online gambling sector has seen impressive growth. Provinces have embraced regulated online casinos in Canada, offering players a wide range of casino games, including slots, roulette, blackjack, bingo, and live dealer games. This has opened doors for startups and tech companies in the iGaming space, proving that Canada fosters innovation in both traditional and digital business landscapes. For entrepreneurs interested in entertainment, fintech, or gaming, it’s a sign that Canada is ready to support forward-thinking ventures.

5. Canada Welcomes Global Talent and Immigrants

Canada stands out for its inclusive and supportive immigration policies. If you’re considering relocating your team or hiring international professionals, Canada makes the process easier than most countries. The nation’s approach to immigration is grounded in multiculturalism and longstanding policies that promote integration rather than exclusion.

Programs like Express Entry and the Provincial Nominee Program make it possible for skilled workers and business owners to move to Canada with fewer barriers. Immigrants are welcomed by both the government and the public, creating an environment where diverse talent can thrive. This openness is a big advantage for companies looking to recruit globally or scale across borders.

6. Canada Has Strong Intellectual Property Protections

Protecting your ideas and innovations is critical, and Canada excels in this area. The country has modern intellectual property (IP) laws and belongs to international agreements that ensure your patents, trademarks, and designs are secure across borders. Businesses that rely on technology, branding, or proprietary processes can operate here with confidence.

Recent changes to Canadian IP laws have strengthened protections. For example, industrial designs are now safeguarded for up to 15 years, an increase from the previous 10. The IP registration process is also faster and more user-friendlythanks to digital applications. Whether you’re a solo inventor or a multinational tech firm, Canada gives you the legal tools to defend your creations and remain competitive.

Governor Abdullahi Sule of Nasarawa State has highlighted the gains recorded by his administration in the areas of mining, agriculture, education and human capital development.

Sule spoke as a panelist during a joint session of the United Nations World Food Programme (WFP) and the African Development Bank AfDB) organised on the sidelines of the Nigeria Economic Summit in Abuja, on Tuesday.

The governor recounted the success story of the state’s education sector, recalling that at the commencement of his administration in 2019, the state’s WAEC enrollment and performance were very low, with Nasarawa State ranking 28th out of 36 states.

He stated that the state government took a decision to pay for WAEC registeration fees for all students which spurred Nasarawa to 5th position in the country this year.

The governor further highlighted major reforms in the solid minerals sector, adding that following the discovery of high-quality lithium, an executive order was issued to ban the export of raw minerals, mandating local processing. He explained, the policy has given birth to major foreign and domestic investments, including the largest lithium mining and processing facility in Nigeria, with a capacity of 3000 metric tons daily, and another 6000 metric ton plant set to be commissioned by President Ahmed Bola Tinubu.

Governor Sule also emphasised the fundamental connection between investment and human capital, explaining that the state has entered into partnerships with companies where signature bonuses are used to fund training for the local workforce. He acknowledged the ongoing job of rehabilitating the state’s 1,400 public primary schools, noting that while significant progress has been made, moving from 10 percent to nearly 50 percent of schools meeting good standards, more work remains.

He reiterated his administration’s commitment, reflected in consistently allocating over 26 percent of the annual budget to education.

On agriculture, the Governor stated that the sector remains a non-negotiable priority for national food security, especially given its 26 percent contribution to the national GDP.

He described the state’s practical steps in agriculture, with his administration starting with the cultivation of 2,000 hectares of rice, which was successfully harvested and sold to Olam, with the state now expanding by clearing an additional 1,300 hectares of virgin land.

He expressed confidence in the state’s potential, boosted by storage infrastructure set up by the Federal Government in Lafia, urging every state in the federation to leverage its own agricultural potential.

Governor Sule restated that for Nigeria to achieve true economic prosperity, every state must look inwards and unlock its unique potential in sectors like mining and agriculture, moving the nation firmly towards a diversified and sustainable economic future.

‘The good thing about Nigeria is that every state has potential for agriculture. There is no state whatsoever that if they want to go into agriculture, they will encounter difficulties,’ he stated.

More Nigerians have fallen into poverty as economic stabilisation and growth momentum have yet to improve the livelihoods of citizens of Africa’s top crude producer, according to the World Bank.

Poverty levels are projected to hit 61 percent in 2025 as 139 million people slipped below $3 per person per day, compared to 129 million people last year as weak growth and high inflation eroded purchasing power more sharply since 2019, largely reflecting pre-2023 policy missteps and external shocks.

‘Between 2019 and 2023, average consumption fell by 6.7 percent, especially in urban areas, while poverty rose from 40 percent (81 million people) to a projected 61 percent (139 million people) by 2025, with three-quarters of the increase occurring before 2023,’ the Washington-based lender said in its Nigeria Development Update report, ‘From Policy to People: Bringing the Reform Gains Home’, Wednesday.

‘Recent reforms are correcting past policy missteps, but meaningful improvements in livelihoods will hinge on sustained disinflation, stronger inclusive growth, better public services, and continuous targeted support to the most vulnerable.’ Nigeria has embarked on a series of reforms since President Bola Tinubu took the helm of affairs some two years ago, including scrapping decades of fuel subsidies that drained government finances and relaxed the exchange rates to be more market determined.

Those radical policies, though have restored long-lost investor confidence in Africa’s most populous nation, stoked inflation to a near three-decade high and saw the naira tumble by more than 70 percent.

But the storm might just be over as key economic indicators are showing signs of recovery and stability, a turnaround that’s expected to slow poverty levels in the medium to long term.

The World Bank wants authorities to bring ‘reform gains home to Nigerians’ by reducing food inflation; improving the use of public resources for development, and strengthening the social safety net to protect the poor and economically insecure.

Tetracore Energy Group, a leading integrated midstream-downstream energy company, in Nigeria and Africa, is proud to announce the appointment of three distinguished professionals: Oscar N. Onyema OON, Aisha Balewa Abubakar, and Dr. Ayodele Oni to its Board of Directors.

They join existing board members President/CEO – Olakunle Williams, Kemi Williams, Okezie Okah-Avae, and Oladayo Williams, bringing a wealth of expertise and leadership that aligns with Tetracore’s growing ambitions.

Over the years, Tetracore has consistently demonstrated innovation and resilience across the energy value chain, from expanding natural gas infrastructure and distributing gas across Nigeria and beyond, being the largest Gas Trading Company and auto gas distributors in the country. The company has also pioneered hybrid renewable projects that power industries and communities, reinforcing its commitment to Africa’s sustainable energy transformation. Strengthening its board marks a strategic step toward consolidating these achievements and guiding the company’s next phase of growth.

‘The energy future of Africa will be driven by strong institutions and visionary leadership,’ said Olakunle Williams, President/ CEO, Tetracore Energy Group. ‘Welcoming our new directors represents a defining moment for Tetracore as we will continue to drive, deliver reliable, affordable, and sustainable energy solutions across the continent.’

Meet the New Board Members

Oscar N. Onyema, OON, a renowned figure in Nigeria’s financial and capital markets, brings over 25 years of leadership experience spanning financial services, energy, and technology. As former Chief Executive Officer of the Nigerian Stock Exchange (now NGX Group), he transformed the institution into a globally respected organisation through transparency, innovation, and investor confidence. With several prestigious awards showcasing his excellence, he was given a special recognition award for Transformational Leadership in the Nigerian Capital Markets in 2018 and the Meritorious Service and Contribution to the Development of the Stock Exchange /Capital Markets in Nigeria award in 2021.

At Tetracore, Onyema’s deep expertise in capital markets and financial innovation will support the company’s next phase of growth, driving strategic partnerships and unlocking new investment opportunities across Nigeria’s energy infrastructure landscape.

Aisha Balewa Abubakar joins the board as a respected strategist and advocate for sustainable business practices. With over three decades of experience in banking and finance, she has served as a Director at the Central Bank of Nigeria (Capacity Development Department), where she spearheaded collaborations with global institutions such as the U.S. Federal Reserve, International Monetary Fund (IMF), and West African Institute for Financial and Economic Management (WAIFEM).

Beyond her financial acumen, Balewa brings a strong understanding of corporate governance, diversity, and human capital development. She holds an MA in Human Resource Management and an Executive Certificate in Public Leadership from the Harvard Kennedy School of Government, Harvard University. Her appointment reinforces Tetracore’s commitment to sustainability, inclusiveness, and stakeholder trust.

Dr. Ayodele Oni, a distinguished energy lawyer and industry expert, complements the board with his exceptional technical and regulatory expertise. Recognised globally, he was ranked among the world’s leading energy lawyers in the Chambers and Partners and Legal 500. With decades of experience advising national and multinational energy firms, he combines technical insight with legal precision to ensure projects are not only innovative but also compliant and commercially viable.

At Tetracore, his vast experience will enhance the company’s technical oversight, regulatory alignment, and project delivery frameworks, particularly as it expands in gas commercialization, renewable energy, and infrastructure development.

With these appointments, Tetracore Energy Group reinforces its commitment to shaping Africa’s energy narrative through innovation, leadership, and long-term value creation. Guided by a dynamic board and strong executive management, the company remains steadfast in its mission to accelerate industrialization, expand clean energy access, and build a resilient energy ecosystem that powers growth across communities and industries.

President/CEO Olakunle Williams, Kemi Williams, Okezie Okah-Avae, Oladayo Williams, and the newly appointed directors will continue to drive Tetracore’s mission to advance industrialization, promote cleaner energy adoption, and empower communities through reliable access to power.

The Plateau State Police Command has dismissed reports claiming that social media activist Ummulkair Abdulmumin Illyasu was arrested, describing the allegations as false and misleading.

According to the Command, the viral reports circulating on various social media platforms alleging that officers raided her residence and forced her to delete a video from her Facebook page are entirely untrue.

In a press statement issued to Journalists on Tuesday in Jos, Alfred Alabo, the Police Public Relations Officer, clarified that Ummulkhair was only invited for questioning following a report of an alleged inciting post made by her on social media. According to the statement, the post had the potential to incite unrest in the state, and the invitation was aimed at seeking clarification not effecting an arrest. ‘During the interview, she was simply advised to desist from making inciting comments and to explore proper channels to seek clarification on government policies,’ the statement said.

The Command stressed that at no point was she arrested, detained, or forced to delete any content, contrary to viral online claims.

The police further noted that no instruction was given by the Plateau State Government to arrest the activist, adding that such assertions are entirely baseless.

The Command reaffirmed its commitment to upholding the rule of law and respecting citizens’ right to free speech, stating that its actions were intended solely to maintain peace and public order.

The National Health Insurance Authority (NHIA) has signed Memoranda of Understanding (MoUs) with the National Bureau of Statistics (NBS) and the Service Compact with All Nigerians (SERVICOM), aiming to strengthen data management and improve service delivery within Nigeria’s health insurance system.

At the signing ceremony in Abuja, Kelechi Ohiri, director-general of NHIA, described the agreements as an important step toward making the agency’s operations more evidence-based and responsive to citizens’ needs.

‘Today is a landmark day for us because we have been able to sign MoUs that represent real commitments by the respective organisations. These are not just documents; they are concrete steps toward improving data quality and service experience for Nigerians,’ Ohiri added.

He explained that the partnership with NBS would help ensure NHIA policies and programmes are guided by accurate, inclusive data.

‘This is both a commitment of the Statistician-General and myself to work together towards improving data quality and to be able to answer simple but crucial questions: what works well in Nigeria, and are we having measurable impact on people’s lives?’ Speaking on the second MoU, Ohiri said the partnership with SERVICOM is aimed at improving the service experience of over 20 million Nigerians covered by health insurance programmes. He noted that the agreement, which coincides with Customer Service Week, will strengthen feedback systems and complaint resolution mechanisms.

Addressing questions on petitions made against some institutions, Ohiri revealed that NHIA resolved about 90 per cent of over 2,000 complaints from enrollees last year.

‘We encourage people to speak up when there’s a problem. Silence is what I call the silence of the graveyard; it gives a false impression that everything is fine when it’s not. People must feel they can be heard, and we must make sure they are heard’, he said.

Anthony Oshie, SERVICOM national coordinator, commended NHIA for initiating the collaboration and reaffirmed the agency’s commitment to strengthening service delivery in the health sector.

He described the signing as ‘a significant milestone’ that will enhance citizens’ access to quality healthcare and promote accountability in public institutions.

‘Today, we are ready to move forward, not just on paper, but in action, to make sure citizens can see and feel the difference in service delivery,’ he said.

Peter Ameh, the National Secretary of the Coalition of United Political Parties (CUPP), has scored the tenure of Mahmood Yakubu, immediate past chairman of the Independent National Electoral Commission (INEC) low, saying that his tenure was a setback for multi-party democracy in Nigeria.

Yakubu on Tuesday handed over to the commission’s oldest serving National Commissioner in the electoral body, May Agbamuche, as the Acting National President.

But speaking on Channels Television’s Sunrise Daily on Wednesday, Ameh alleged Yakubu’s leadership was characterised by high-handedness, disregard for opposition parties, and a failure to uphold transparency in the electoral process.

According to him, ‘Under Professor Mahmood’s tenure, the opposition suffered. He was not accommodating when it came to opposition or multi-party democracy; all he wanted was to crush it. The high-handedness was much.’

According to him, Yakubu’s administration had failed to build institutional capacity within INEC, claiming that the commission became elitist and detached from its core mandate.

‘Mahmood spent 10 years at the commission, leaving that place, what you see is an elitist escort to protect him from the anger that was in the commission. There wasn’t any essence to build or lift the spirit of the staff,’ he stated. He further criticised the former INEC chairman for mismanaging Nigeria’s electoral cycles and eroding public trust. ‘When you talk about INEC, the commission’s primary duty is to conduct elections. During Mahmood’s tenure, there was corruption and mismanagement. Legitimacy was bastardized,’ Ameh said, citing the Edo State election as an example of alleged irregularities.

‘The conduct of the 2023 general elections is a bitter taste in everybody’s mouth; that is what he will be remembered for,’ he added.

Ameh also faulted Yakubu for failing to take responsibility after the technical glitches that marred the 2023 polls.

‘He was supposed to come out and say what happened’, he added.

He made promises that the results would be transmitted, but he failed. Maybe there was a glitch, but he should have set up an independent investigative body to find out what went wrong,’ he argued.

He concluded that Yakubu’s actions weakened Nigeria’s democratic structure.

‘For me, Mahmood’s tenure damaged the multi-party democracy we have. He pushed and invested so much energy in Section 225A to undermine political parties. He turned the essence of our democratic system into a laughing stock,’ Ameh stated.

Uba Sani, Kaduna State Governor, has approved disbursement of ?2.321 billion for the settlement of pension entitlements, gratuities and death benefits to retirees and families of deceased civil servants across the State.

The disbursement covers Accrued Rights under the Contributory Pension Scheme (CPS) and Gratuity/Death Benefits under the old Defined Benefit Scheme (DBS). With this payment, Kaduna State has now paid out ?6.678bn in 2025 and a total of ?13.5bn in the last two years of the present Administration.

Ahmed Maiyaki, Kaduna State Commissioner of Information, said the welfare of pensioners remains a top priority of the government, stressing that regular and timely payments will continue to ease the hard ship of senior citizens.

According to Ibrahim Balarabe, Executive Secretary, Kaduna State Pension Bureau, the latest batch will benefit 661 retirees and families across State and Local Governments – with ?1.736bn for Accrued Rights of 511 retirees under the CPS, and ?585m for Gratuities and Death Benefits to 315 pensioners and next-of-kin under the DBS.

The Bureau further explained that for those under the Contributory Pension Scheme, their Accrued Rights would be credited directly into their Retirement Savings Accounts (RSAs) with their respective Pension Fund Administrators, while pensioners under the Defined Benefit Scheme would be invited for screening and verification before payment.

Governor Uba Sani has consistently maintained that ensuring dignity for pensioners is not just a statutory obligation, but a moral responsibility of Government.

This approval, the statement concluded, further underscores the administration’s commitment to safeguarding the livelihoods of pensioners, upholding their rights, and strengthening the trust of the Kaduna workforce.