Economy
Osun Woos Investors With Stable Electricity, Others
By Adedapo Adesanya
Governor Gboyega Oyetola of Osun State has urged investors in the Nigerian capital market to consider putting their money in the Land of Virtue because they will never regret taking this investment decision.
Mr Oyetola, who was at the Nigerian Stock Exchange (NSE) on Thursday for the 2019 Osun State Facts Behind the Economy, assured investing public of stable electricity, which he said would boost their returns.
He said his administration was doing everything possible boost the economic potentials of Osun State, calling on both local and foreign investors to be part of the success story. He said the relationship between his government and the investment community would be mutually beneficial.
The Governor, who was honoured with the closing gong ceremony yesterday, said his administration was committed to expanding the size of the state by focusing on inclusiveness, diversification, and sustainable growth.
He also rolled out the opportunities in Osun State, saying his plan for development were based on “four pillars” which were economic development, infrastructure, human capital development and security as well as environmental sustainability.
Governor Oyetola further informed investors that the state offeres resources like stable electricity, infrastructure, and human capital for manufacturing and other industrial activities, complemented by easy access to land, with prompt issuance of certificate of occupancy (C-of-O). According to him, to obtain a C-of-O in Osun State takes not more than 90 days.
During the parley with investors, the Governor said from November 19 to 21, 2019, the state government would hold this year’s edition of the Osun State Economic and Investment Summit in Osogbo, the state capital.
“There are a lot of investment opportunities in Osun that the rest of the world does not know about and we want to showcase these to prospective investors during the Economic Summit. We have massive landmass for agriculture, many mineral resources in large deposits and tourist attractions,” he said.
Speaking on agriculture, Mr Oyetola said that with the presence of a land bank in the state, the barriers of negotiating with the communities were eliminated.
“Osun State has a lot of potential and it is a place to be in the area of agriculture. If you remember, in the past, our state was the leading producer of cocoa, which used to be the major revenue earner for even the Western Region and even Nigeria.
“So, we have quite a lot of opportunities for agriculture and we are blessed with abundant mineral resources,” he added.
The Osun State Governor also said that with the abundance of mineral resources in the state, mining was a core area for investment, saying that there has been regulation of mining activities in the sector to allow the state generate adequate revenue.
With the forthcoming Osun State Economic and Investment Summit scheduled to take place in the state capital, Osogbo, the Governor said that his administration was committed to enhancing the state’s development under a public-private-partnership (PPP) model.
To show its commitment, Mr Oyetola disclosed that the state has embarked on economic reforms through the provision of infrastructures like roads, rail, and cargo airport as well as regulating mining operations to pave the way for new investors.
He added that in order to create an enabling environment for investors, the state had also beefed up its security, noting that it was adjudged to be the most peaceful state in Nigeria.
By Adedapo Adesanya
The Central Securities Clearing System (CSCS) Plc has declared the first interim dividend in its history after posting its financial results for the first half of 2026, reflecting robust earnings growth, improved operating efficiency and stronger capital market activity.
The board approved an interim dividend of N1.00 per ordinary share for the six months ended June 30, 2026, citing the company’s strong cash generation, resilient balance sheet and confidence in the sustainability of its earnings.
The interim payout represents about 56 per cent of the total dividend of N1.78 per share paid for the 2025 financial year, underscoring its strong earnings momentum while preserving financial flexibility to invest in technology, innovation and future growth.
CSCS recorded one of the strongest financial performances in its history during the review period, with total operating income rising by 92 per cent to N18.51 billion from the corresponding period of 2025.
The growth was driven by higher transaction fee income as capital market activity strengthened, continued expansion in depository services, increased collateral management revenues and stronger contributions from data and technology-enabled services. Investment income also improved as the company optimised its investment portfolio.
Despite the sharp rise in revenue, operating expenses increased by only 38 per cent, reflecting disciplined cost management and the scalability of the company’s business model.
As a result, operating profit surged by 186 per cent to N10.11 billion, while profit before tax climbed by 115 per cent to N13.21 billion. Earnings per share also rose significantly to 190.1 kobo from 109.1 kobo in the corresponding period of 2025.
The organisation also recorded improvements in operating efficiency. Its cost-to-income ratio declined to 45.4 per cent from 63.2 per cent a year earlier, while operating profit margin improved to 54.6 per cent from 36.8 per cent.
According to the company, the results demonstrate not only the benefits of stronger market activity but also the resilience of its operating model and its ability to convert revenue growth into higher profitability, improved shareholder returns and sustainable long-term value creation.
Commenting on the interim dividend, the Chairman of CSCS Plc, Mr Temi Popoola, said the board’s decision reflected confidence in the firm’s financial strength, earnings quality and long-term strategic direction.
He said the strong performance was driven not only by increased market activity but also by sustained improvements in operational efficiency, disciplined cost management and the continued diversification of revenue streams.
Mr Popoola noted that the Board remained committed to balancing shareholder returns with investments in technology, innovation, resilience and new growth opportunities that would strengthen CSCS’ position as Nigeria’s leading financial market infrastructure and one of Africa’s foremost post-trade institutions.
The chief executive of CSCS Plc, Mr Shehu Yahaya Shantali, attributed the strong performance to the resilience of the entity’s business model, the dedication of its workforce and the confidence of market participants.
He said the first-ever interim dividend demonstrated the company’s ability to translate strong earnings growth and improved operating efficiency into enhanced shareholder value.
Mr Shantali added that CSCS would continue to strengthen its core market infrastructure, invest in technology and innovation, diversify its revenue base and enhance value creation for stakeholders while supporting the development of Nigeria’s capital market.
By Aduragbemi Omiyale
The national scale long-term issuer rating of Axxela Limited has been upgraded by GCR Rating to A+(NG), just as its short-term issuer rating was affirmed with a stable outlook.
The rating firm upgraded the long-term issue rating for Axxela Funding 1 Plc’s N16.4 billion series 1 senior unsecured bond to A+(NG), while the N11.5 billion series 1 senior secured bond was lifted to A+(NG)(EL).
GCR noted in a note that the actions reflect the leading gas and power portfolio company’s robust business model, strong earnings performance, and sustained financial profile, reinforcing its ability to deliver long-term value while maintaining financial discipline.
Axxela’s recent achievements have been driven by its continued focus on responsible growth, customer satisfaction, and creating lasting value for national development.
“The ratings upgrade by GCR is a strong endorsement of Axxela’s disciplined approach to business. Beyond recognising our financial strength, it reflects the resilience of our business model and the confidence in our strategic direction.
“Over the past few years, we have continued to make significant strides across the business by expanding our natural gas infrastructure, strengthening our operational footprint, advancing our sustainability agenda, and maintaining an unwavering commitment to operational excellence and safety,” the chief executive of Axxela, Mr Moshood Olajide, commented on the development.
As the company continues to advance its long-term growth strategy, the upgraded ratings reinforce confidence in Axxela’s credit profile, financial resilience, and ability to create enduring value for investors, customers and other stakeholders.
By Adedapo Adesanya
The Ministry of Solid Minerals Development and the National Identity Management Commission (NIMC) have strengthened their partnership to deploy digital identity technology, aiming to combat illegal mining and enhance security in Nigeria’s mining sector.
Speaking while receiving the Director-General and management of NIMC on a courtesy visit to his office in Abuja, the Minister of Solid Minerals Development, Mr Dele Alake, described the commission as a critical institution in Nigeria’s development architecture, stressing that effective governance could not be achieved without a credible identity management system.
“NIMC occupies a critical position in translating policy into reality. It is pivotal to the development of any nation because governance today is driven by data, technology and credible identity systems,” he added.
He noted that inadequate identification systems had weakened enforcement efforts over the years, allowing illegal mining activities to flourish in mineral-rich communities.
“Without identification, we cannot trace or track, and insecurity will flourish. In the solid minerals sector, we need effective monitoring of both legal and illegal operations.
“A credible identity ecosystem will strengthen regulation, improve enforcement and support our efforts to sanitise the sector,” Mr Alake said.
The minister identified technology, statistics, data gathering and digital identity as critical enablers for evidence-based policymaking, improved regulatory oversight, efficient licensing, investment promotion and national development.
On her part, the DG of NIMC, Mrs Abisoye Coker-Odusote, highlighted several opportunities for collaboration between both institutions, noting that the newly enacted NIMC Act has positioned Nigeria to fully embrace a digital governance ecosystem.
She explained that deeper integration of identity management into the solid minerals sector would facilitate database integration across government institutions, enhance regulatory compliance, strengthen security and law enforcement, improve monitoring of operators, and provide stronger support for the implementation of Community Development Agreements (CDAs) in mining host communities.
Mrs Coker-Odusote added that NIMC’s upgraded digital infrastructure is capable of supporting government institutions in building reliable databases, improving transparency and delivering more efficient public services.
Both institutions said they would immediately begin implementing technology-driven initiatives under the partnership, expressing confidence that expanding access to trusted digital identities for miners and other eligible residents would enhance accountability and strengthen governance in the solid minerals sector.
