Business
BUA Cement approves ₦338.6bn dividend, targets 23 million tonnes production capacity
Shareholders of BUA Cement Plc have approved a final dividend of ₦10 per ordinary share for the 2025 financial year, amounting to a total payout of ₦338.64 billion.
The approval was granted at the company’s 10th Annual General Meeting held in Abuja, where it also unveiled plans to expand production capacity to 23 million metric tonnes annually by the end of 2027.
Chairman Abdul Samad Rabiu said the company delivered strong financial results despite economic pressures, recording revenue of ₦1.2 trillion in 2025, up from ₦876.5 billion in 2024.
Profit before tax rose by 367 per cent to ₦465.3 billion, while profit after tax climbed 381.7 per cent to ₦356 billion, reflecting what Rabiu described as improved operational efficiency, cost optimisation and stronger financial management.
On expansion, the company said construction of a new three-million-metric-tonne cement plant in Ososo is nearing completion.
Managing Director and CEO Yusuf Binji added that another production line is planned in Sokoto State, which will increase total capacity by six million metric tonnes per annum.
The company said the expansion projects are expected to strengthen domestic cement supply, create jobs and support infrastructure development across Nigeria.
Business
Ultimate Health Pushes Affordable Insurance for Nigeria’s Informal Sector
By Abigail David
Ultimate Health Management Services has intensified efforts to expand affordable health insurance coverage for Nigeria’s largely uninsured informal sector through strategic partnerships and awareness campaigns.
The initiative was highlighted during a meeting in Lagos with a delegation from the Chartered Institute of Directors (CIoD) Nigeria, led by Assistant Director Adekemi Parker, where both organisations explored collaboration to improve health insurance penetration and governance standards in the sector.
At the centre of the initiative is a new health insurance package designed for artisans, traders, transport operators, ICT professionals and small business owners. According to Ultimate Health Managing Director, Lekan Ewenla, the scheme costs N38,000 annually per enrollee and is structured to provide accessible healthcare for workers outside the formal employment sector.
Ewenla said the programme aims to reduce the heavy reliance on out-of-pocket medical expenses, noting that inadequate awareness and limited access to information remain major barriers to health insurance adoption in Nigeria.
He added that the company is working with organised informal sector groups and institutional partners to drive enrolment and improve access to timely healthcare services.
Official data from the 2025 State of Health of the Nation Report shows that health insurance coverage in Nigeria increased from 19.2 million people in 2024 to 21.7 million in 2025, representing about 13 per cent of the population.
CIoD said the collaboration aligns with its commitment to strengthening corporate governance and improving service delivery in critical sectors, including healthcare.
Business
NCC Says Telcos Compensate Over 75 Million Nigerians for Poor Network Service
By Abigail David
The Nigerian Communications Commission (NCC) says telecommunications operators have compensated more than 75 million subscribers for poor network service, marking one of the largest consumer redress initiatives in Africa’s telecom sector.
The disclosure was made in a communiqué issued after the commission’s 109th board meeting held on May 25, 2026. The compensation followed an NCC directive requiring mobile operators to automatically credit affected customers with airtime for service disruptions and substandard network performance.
According to the regulator, the compensation programme reflects significant progress in enforcing quality-of-service standards across the industry. The NCC, however, said it is independently verifying operators’ claims to ensure that all eligible subscribers receive the compensation due to them.
The commission also reviewed compliance by telecom infrastructure providers, including tower companies, directing them to fully implement network upgrade commitments funded through regulatory fines. It noted that while progress had been made, full compliance remained necessary to improve service quality sustainably.
The NCC identified infrastructure vandalism, growing data demand and limited fibre deployment as key challenges affecting the sector. It added that efforts to expand fibre networks and strengthen telecom infrastructure security are ongoing, including plans for a Communications Industry Security Trust Fund.
Nigeria’s telecom industry invested about N2.13 trillion in network infrastructure in 2025, with operators projecting an additional N1.86 trillion investment in 2026 to expand coverage and improve service delivery.
Business
Consumers Can Sell Excess Solar Power to Discos Under New NERC Regulation
By Abigail David
The Nigerian Electricity Regulatory Commission (NERC) has commenced implementation of the Net Billing Regulations 2026, a policy that allows eligible electricity consumers with renewable energy systems to sell surplus power generated from their installations to electricity distribution companies (Discos).
The new framework is designed to encourage the adoption of renewable energy, attract private investment in power generation, and increase electricity supply through distributed generation.
In a public notice issued on Wednesday, NERC said the regulation enables eligible customers, referred to as “prosumers,” to generate electricity for their own consumption and export excess energy to the distribution network under a net billing arrangement.
According to the commission, participants must operate renewable energy systems with installed capacities ranging from 50 kilowatt peak (kWp) to 1.5 megawatt peak (MWp), making the scheme primarily suitable for medium- and large-scale consumers.
Under the arrangement, electricity generated from solar installations will first be used by the customer. Any excess power can then be supplied to the distribution network through bidirectional meters that record both imported and exported electricity.
NERC stated that exported energy will be credited based on tariffs approved by the commission, creating an opportunity for businesses and institutions with large solar installations to earn revenue from unused electricity.
The commission said the initiative aims to promote renewable energy adoption, improve energy security, encourage private sector participation in power generation, reduce greenhouse gas emissions, and support the integration of renewable energy into distribution networks.
Experts believe the scheme could benefit factories, universities, hospitals, shopping malls, telecommunications facilities, industrial estates, and other large organisations that often generate surplus solar power during periods of low demand.
To participate, customers must be connected to a Disco’s network, meet technical and regulatory requirements, obtain approval from their distribution company, sign a net billing agreement, and register with NERC.
Applicants will also undergo a technical feasibility assessment before approval. Successful participants will be provided with bidirectional metering infrastructure required for the programme.
The regulation comes as households and businesses increasingly turn to alternative energy sources amid persistent challenges in Nigeria’s electricity sector, including inadequate generation, transmission bottlenecks, and distribution constraints.
NERC said the framework is expected to unlock private investment in renewable energy while supporting Nigeria’s broader energy transition objectives.
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