PZ Cussons Reports N45.2bn PAT, Proposes N2.50 Dividend

CEO Oghale Elueni attributed the performance to strong brands, disciplined execution, volume growth, pricing initiatives and efficient working capital management

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23 seconds ago

August 31, 2026

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PZ Cussons Nigeria Plc reported a profit after tax of N45.17 billion for the year ended May 31, 2026, up 348.7 per cent from N10.07 billion in 2025.

Profit before tax rose 364.08 per cent to N77.32 billion from N16.66 billion.

The company proposed a dividend of N2.50 per share, compared with none in the previous year.

CEO Oghale Elueni attributed the performance to strong brands, disciplined execution, volume growth, pricing initiatives and efficient working capital management.

Revenue grew 22 per cent, while net assets improved from N17.3 billion negative to N70.6 billion.

The company also recorded volume growth across its electrical and consumer businesses, supporting market share gains and higher household penetration

Related Topics:Featured PZ Cussons Group PZ Cussons Nigeria 2026 FY

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Meta set to charge WhatsApp Business messages from October 1

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Meta set to charge WhatsApp Business messages from October 1

For example, a Nigerian fintech company sending 500,000 chargeable utility messages could incur about $5,050 in fees from Meta alone, excluding charges that may come from third-party providers or software platforms used to manage the messaging service.

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2 days ago

August 28, 2026

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Businesses using Meta’s WhatsApp Business Platform will begin paying for certain messages sent to customers from October 1, 2026, under a new pricing structure announced by the company.

The change applies to organisations that use the WhatsApp Business Platform, formerly known as the WhatsApp Business API, to manage customer communication on a large scale.

Regular WhatsApp users and small businesses using the standard WhatsApp Business app are not the main targets of the new charges.

Under the revised system, the amount businesses pay will depend on the type of message being sent.

Utility messages, including payment alerts, order confirmations and other service-related updates, will cost about $0.0101 per message, while marketing messages will attract a higher fee of approximately $0.062 each.

Although the individual charges appear relatively small, companies that send large volumes of messages could see their communication expenses rise significantly.

Business

Dangote Refinery Suspends Petrol Sales To Lagos Depots

Dangote Refinery is prioritising markets where imported products are either unavailable or less dominant, rather than adding more supply to Lagos, which receives substantial volumes of imported petrol.

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3 days ago

August 28, 2026

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Dangote Petroleum Refinery has suspended coastal sales of Premium Motor Spirit (PMS) to depot owners and importers in Lagos.

People familiar with the refinery’s operations said that the move is deliberate, aimed at redirecting locally refined petrol to areas where imported supply is scarce.

The suspension is ongoing. A source said: “The suspension of coastal sales to Lagos is still ongoing. It is aimed at redirecting products to locations where imported products are unavailable. Lagos has quite some imported petrol.”

The strategy is intended to ensure locally refined petrol reaches areas where it is most needed.

The decision comes amid concerns at the refinery over the volume of imported petrol entering Nigeria.

According to data available to the refinery, imported PMS accounted for about 43 per cent of total petrol supplied into Nigeria in July

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Naira Exchange Rates Friday, August 28

Today, the Naira Black Market exchange rate for 1 Great British Pound (GBP) is 1900 Naira. This means that you can get 1900 Naira for every 1 Pound that you exchange.

How much is 100 pounds in naira today?
At the current black market rate of 1900 per pound, 100 British Pounds = 190,000 Naira.