BUSINESS
Access ARM Pensions Posts N42.4bn Revenue, Declares N2 Dividend
Access ARM Pensions has posted a sharp rise in revenue in its first full financial year following the merger between Access Pensions and ARM Pensions. The results underscore the scale benefits and operational efficiencies already being unlocked by the combination of the two entities.
The Pension Fund Administrator grew gross revenue 50.
4 per cent, rising to N42.4bn in the 2025 financial year from N28. 2bn in 2024. Profit after tax also saw a significant jump, rising 48 per cent to N16.1bn from N10.9bn in the previous year.Assets Under Management followed a similar upward trajectory, surpassing N4tn in 2025, up from approximately N3tn in 2024. This growth reinforces the company’s position as one of Nigeria’s largest PFAs.
Consequently, at the company’s Annual General Meeting held in Lagos, shareholders approved a dividend payout of N2 per share.
Speaking at the meeting, the Acting Managing Director and Chief Executive Officer, Abimbola Sulaiman, described 2025 as a defining year for the business.
“If you recall, FY2025 was our first full year post-merger. In 2024, ARM Pensions was part of the business for only about five months, so 2025 marked the first full year of consolidation,” Sulaiman said.
She noted that the company successfully extracted substantial operational synergies, particularly through cost optimisation, while simultaneously strengthening customer acquisition.
“The business is strong, the brand is strong, and we recorded gains in customer acquisition and assets under management. We are seeing strong double-digit growth, not only in line with the industry but ahead of it, largely because of the value capture achieved from the merger,” she added.
Sulaiman emphasised that the company expects even stronger performance over the medium term as integration benefits continue to mature across operations and revenue channels.
“Mergers and acquisitions typically take between one and three years before full integration benefits are realised. We are therefore optimistic about the growth trajectory ahead,” she stated.
Addressing new regulatory capital requirements, Sulaiman expressed confidence that the firm would meet the new thresholds internally without diluting existing shareholders, affirming, “The fact that we are able to pay dividends while still working towards meeting the new minimum capital requirement demonstrates our confidence. We will meet the requirement before the deadline and will not require any external capital injection to do so.”
The performance was well-received by investors. Obinna Anyanwu, a shareholder present at the meeting, described the commitment to returns as a “positive sign” for the investment community.
“We are beginning to reap the benefits of the merger with ARM Pensions. Based on the performance presented today, we are optimistic that the company will continue to build on and consolidate these gains,” Anyanwu noted.
He concluded by praising the management team, adding, “The quality of leadership within the organisation gives us confidence. We believe the company will perform even better in the years ahead.”
BUSINESS
Two Vessels Cross Hormuz amid War Tensions
Two commercial vessels have successfully passed through the Strait of Hormuz despite ongoing tensions in the Gulf, as Iran submitted its response to a United States proposal aimed at ending the war and reopening peace talks.
Iranian state media reported on Sunday that Tehran’s response was transmitted through Pakistan, which has been mediating between both sides.
According to Iranian state television, the response focused on ending hostilities “on all fronts”, particularly in Lebanon, and guaranteeing the safety of maritime traffic through the strategic waterway.
The report, however, did not specify when or how the strait would fully reopen to international shipping.The development came after Washington proposed halting the fighting before broader negotiations on contentious issues, including Iran’s nuclear programme. There was no immediate reaction from the United States government.
The Strait of Hormuz, which previously handled about one-fifth of global oil supplies, has remained one of the most volatile flashpoints in the conflict, with Tehran restricting non-Iranian vessels from transiting the route.
Despite the tension, it was reported that the QatarEnergy-operated liquefied natural gas carrier, Al Kharaitiyat, safely crossed the strait and headed for Pakistan’s Port Qasim, according to shipping analytics firm Kpler.
The vessel became the first Qatari LNG carrier to transit the strait since the outbreak of the US-Israeli war with Iran on February 28.
Sources familiar with the arrangement said Iran approved the shipment to help ease Pakistan’s worsening electricity shortages caused by disrupted gas imports and to build confidence with both Qatar and Pakistan, which have been involved in mediation efforts.
Also on Sunday, Iran’s semi-official Tasnim news agency reported that a Panama-flagged bulk carrier bound for Brazil passed through the strait using a designated route approved by Iranian armed forces after an earlier failed attempt on May 4.
The passage of the vessels came amid continuing regional security threats.
Meanwhile, as tensions persist around the strategic waterway, Britain announced that it was deploying HMS Dragon, one of the Royal Navy’s six Type 45 destroyers, to the Middle East ahead of a possible multinational mission to protect shipping in the Strait of Hormuz.
According to the UK Ministry of Defence, the warship would “pre-position” in the region for a “potential role” in a future “strictly defensive and independent” operation.
British Prime Minister Keir Starmer, who is championing the proposed mission alongside French President Emmanuel Macron, said the operation would only proceed after active fighting in the region ends.
The deployment comes after months of disruption in the strait, which Iran has been controlling in retaliation for attacks by the US and Israel.
HMS Dragon, designed for anti-aircraft and anti-missile warfare, recently operated in the eastern Mediterranean, where it was tasked with protecting British air bases in Cyprus following a drone attack near RAF Akrotiri in March.
The UK Ministry of Defence said the latest deployment formed “part of prudent planning” and would allow the warship to contribute immediately to any future multinational maritime security mission.
The ministry added that the mission “provides the UK Armed Forces with additional options for the defensive multinational Hormuz mission”.
Last month, representatives from 51 countries reportedly met to discuss securing commercial shipping through the strait, with Britain and France leading discussions on a coordinated response.
Meanwhile, US President Donald Trump is facing growing pressure to end the conflict ahead of a planned visit to China this week, amid mounting fears that the war could deepen the global energy crisis and further destabilise the world economy.
Qatari Prime Minister Mohammed bin Abdulrahman al-Thani reportedly told Iranian Foreign Minister Abbas Araqchi that using the Strait of Hormuz as a “pressure tool” would worsen the crisis.
According to Qatar’s foreign ministry, the prime minister stressed during a telephone conversation that “freedom of navigation should not be compromised.” Over the weekend, oil prices hovered around $100 per barrel.
BUSINESS
NPA Records Increased Cargo, Vessel Traffic in Q1
The Managing Director of the Nigerian Ports Authority, Abubakar Dantsoho, said the maritime sector recorded strong growth in the first quarter of 2026, driven by increased cargo throughput, larger vessel traffic and ongoing port reforms.
Dantsoho disclosed this in a statement issued on Sunday in Lagos by the NPA General Manager, Corporate Communications and Strategy, Ikechukwu Onyemekara.
He said ocean-going vessel Gross Registered Tonnage (GRT) rose by 19.
5 per cent to 46.75 million in the first quarter 2026, reflecting improved cargo efficiency and growing confidence by international shipping lines in Nigerian ports.According to him, the increase was driven largely by the deployment of larger vessels linked to activities at Lekki Deep Sea Port and rising regional trade under the African Continental Free Trade Area (AfCFTA).
“Ports must evolve beyond old limits. Efficiency, speed and reliability will determine who leads African trade,” he said.
Dantsoho said total cargo throughput rose by 11.6 per cent year-on-year to 32.38 million metric tonnes during the period.
He added that outward cargo increased by 23.7 per cent to 14.13 million tonnes, while outward laden containers rose by 67.6 per cent to 102,803 Twenty-foot Equivalent Units (TEUs).
According to him, vehicle traffic also increased by 67 per cent to 58,870 units, while transshipment containers climbed by 83.1 per cent, indicating Nigeria’s growing role in regional trade.
“The time has come to fully utilise our marine resources. Ports can drive major economic growth if properly harnessed,” he said.
Dantsoho noted that reforms under the administration of Bola Tinubu were focused on infrastructure upgrades, digitalisation and restructuring aimed at positioning Nigeria as a leading maritime hub in Africa.
He disclosed that the one billion dollar overhaul of the Lagos Port Complex and Tin Can Island Port was underway following approval of the Memorandum of Understanding (MoU).
Also speaking, the Minister of Marine and Blue Economy, Adegboyega Oyetola, said procurement processes were ongoing for upgrades at Warri, Port Harcourt, Onne and Calabar ports to ensure balanced development.
Oyetola added that the Port Community System and National Single Window project would help reduce delays, lower costs and improve transparency in port operations.
He also noted that investments in rail, inland dry ports, barging and export corridors were aimed at easing congestion and improving cargo evacuation.
According to the NPA, Nigeria has also sustained over four years without piracy incidents under the Deep Blue Programme.
Dantsoho said Nigeria still handles only 25 per cent of West Africa’s cargo despite accounting for about 60 per cent of the region’s Gross Domestic Product (GDP).
“With sustained commitment, Nigeria’s port system will emerge as Africa’s leading maritime logistics hub,” he said.
BUSINESS
Chinese-Nigerian Partnership Targets Electric Vehicle Manufacturing
A Chinese company, Launch Design Shanghai, and Hybrid Motors Nigeria are set to boost electric vehicle manufacturing in Nigeria.
Chief Executive Officer of Hybrid Motors Nigeria, Jubril Arogundade, disclosed this in a statement on Sunday in Abuja.
Arogundade said the partnership would support electric vehicle manufacturing and assembly operations in Lagos and Abuja.
He said both firms signed a strategic cooperation agreement in Shanghai to accelerate production of ‘Acely’.
“Acely is Hybrid Motors Nigeria’s indigenous electric vehicle brand, designed to meet local mobility needs,” he said.
He said the agreement would support technology transfer, workforce training, and gradual development of Nigeria’s electric vehicle supply chain.
Arogundade described the partnership as a major step toward strengthening Nigeria’s automotive future.
“This partnership is more than a business agreement; it is a commitment to building Nigeria’s automotive future.
“With Acely, we are proving world-class vehicles can be designed, engineered, and assembled in Nigeria, by Nigerians, for Nigerians,” he said.
He said the collaboration combined local market understanding with advanced automotive engineering expertise.
According to him, the vehicles would meet international standards while remaining suitable for Nigerian roads and consumers.
Chief Executive Officer of Launch Design Shanghai, Wang Xun, described the partnership as transformative.
“Together, we are not just building vehicles, we are building an industry,” Xun said.
The firms said manufacturing operations would be established in Lagos and Abuja.
They projected a combined annual production capacity of 70,000 units at full operational maturity.
According to the companies, the Lagos facility along the Lekki-Epe corridor would serve as the main production hub.
They said the Lagos plant was projected to produce 50,000 units annually.
The Abuja facility, located within Centenary Economic City, would function as a manufacturing and technology centre.
The companies said the Abuja plant would have an annual production capacity of 20,000 units.
They said the facilities would support job creation, technology transfer, supply chain development, and reduced dependence on imported vehicles.
According to the firms, the initiative aligns with Nigeria’s automotive development plans and cleaner transportation goals.


