Wema Bank Plc, Nigeria’s oldest indigenous financial institution and digital banking pioneer, has announced an extraordinary 231% rise in Profit Before Tax (PBT), reaching ₦101.2 billion in its unaudited half-year (H1) 2025 results. The figures, filed with the Nigerian Exchange Group (NGX), position the bank as one of the strongest performers in the Nigerian financial sector this year.

This impressive leap, up from ₦30.55 billion in the corresponding period of 2024, underscores Wema Bank’s ongoing transformation and expansion, particularly in digital banking via its flagship product, ALAT.

Robust Financial Metrics Across the Board

Wema Bank’s Gross Earnings rose to ₦303.2 billion in H1 2025, a 70% increase from ₦178.63 billion in H1 2024. Interest Income surged to ₦240.12 billion — a 65% year-on-year increase — while Non-Interest Income jumped by 91% to ₦63.08 billion.

Its balance sheet remains healthy and forward-facing. Total assets climbed from ₦3.585 trillion in H1 2024 to ₦3.963 trillion in the same period this year. Deposits rose modestly by 3% to ₦2.60 trillion, while Loans and Advances grew by 19% to ₦1.426 trillion, up from ₦1.201 trillion.

The bank’s Non-Performing Loan (NPL) ratio stood at 3.17%, reflecting its continued dedication to maintaining asset quality.

CEO Moruf Oseni: “This is Just the Beginning”

Speaking on the stellar performance, Wema Bank’s Managing Director and CEO, Mr. Moruf Oseni, attributed the gains to a long-standing culture of innovation, resilience, and customer-focused delivery.

“For 80 years, Wema Bank has redefined impossible, consistently breaking new ground and raising the bar in delivering positive impact. Three years ago, we took our Profit Before Tax from ₦14.75 billion in 2022 to ₦43.59 billion in 2023, and in 2024, our PBT stood at an impressive ₦102 billion. Now, just halfway through 2025, we have achieved over 99% of our 2024 full-year PBT in just H1, and for us, this is just a starting point,” he said.

“As a Bank, we have remained committed to surpassing expectations and redefining limitations and this is a standard we are prepared to uphold relentlessly. Wema Bank is the Bank that works for all and we will continue to pull all stops in delivering optimum value to every stakeholder, from our shareholders to customers, employees, partners, regulators, and every person and institution who has played a part in our 80-year journey and beyond.”

Performance Highlights in Figures

The half-year financial statement also showcased key profitability and efficiency metrics:

Return on Average Equity (ROAE): +60.40%

Return on Average Assets (ROAA): +4.64%

Capital Adequacy Ratio (CAR): +13.68%

Cost-to-Income Ratio: +47.55%

These indicators reflect not only profitability but also operational efficiency and strong capital buffers, boosting investor confidence.

Sustaining Eight Decades of Innovation

For 80 years, Wema Bank has maintained its position as a trusted and evolving financial partner for Nigerians across all demographics and industries. With ALAT, Africa’s first fully digital bank, it continues to lead the sector in innovation and inclusion.

The bank’s consistent growth despite economic headwinds signals strong management practices, digital agility, and a clear strategic vision for the future.

In a fresh push to bolster women entrepreneurship at the grassroots, Nestlé Nigeria has launched a new phase of its Nestlé Empowering Rural Women in Nigeria initiative in Agbara, Ogun State. The expansion brings 49 female retailers into the programme, bringing the total number of beneficiaries nationwide to 431 since its launch in 2021.

The initiative aims to provide rural women with the tools, training, and support to scale their retail businesses—some by as much as 300% in just three months. Each woman receives a tailored combination of business education, mentorship, and product grants valued at N200,000.

Speaking at the launch event held in Agbara, Victoria Uwadoka, Corporate Communications, Public Affairs, and Sustainability Lead at Nestlé Nigeria, underscored the company’s long-standing relationship with the community and the broader goal of inclusive growth.

“Nestlé Empowering Rural Women in Nigeria is about creating genuine opportunities for women,” Uwadoka said. “Supporting rural women to scale their retail operations by up to 300% within just three months is not only beneficial for business but also essential for fostering a more inclusive economy, stronger families, and resilient communities.”

“Opening new doors for hardworking women determined to build better futures for themselves and their families in Agbara holds significant meaning for us, as this community has been home to Nestlé Nigeria for over four decades,” she added. “We are confident that we will see more success stories emerge from Agbara. Through this initiative, we are not only supporting individual entrepreneurs; we are investing in ripple effects that will benefit the entire community.”

The initiative’s commercial strategy was further explained by Boladale Odunlami, Commercial Manager at Nestlé Nigeria, who reiterated that the project is rooted in the company’s commitment to sustainable development across its value chain.

“At Nestlé, we are intentional about creating growth opportunities across every segment of our value chain,” Odunlami said.

“The Empowering Rural Women in Nigeria initiative was launched in 2021 to support women retailers in underserved communities, recognizing their critical role in driving local economies. Since its inception, over 380 women have benefited from the program, with more than 85% reporting sustained business expansion. With product grants valued at up to 300% of their existing business size, participants have improved their turnover, increased revenue, and strengthened their community presence. This edition is particularly special, as the participants were nominated by their own communities and will each receive product grants worth N200,000.”

The Agbara community leaders have lauded the programme as timely and transformative. Representing the Alagbara of Agbara, Olori Adeola Agunbiade, wife of His Royal Highness Oba Lukman Jayeola Agunbiade JP, commended Nestlé for investing in local women and sustaining a peaceful, mutually beneficial relationship with the community.

“Our community enjoys a peaceful and respectful relationship with Nestlé, which enables us to work together effectively on community-led initiatives like the women empowerment program,” said Olori Adeola.

“We are delighted to see the women we have carefully selected from our community benefit from this program, whose impact we have heard about. I urge every woman here today to take full advantage of this training to build something lasting for herself and her family. I assure Nestlé Nigeria of our commitment to co-owning this project, which will further strengthen the long-standing bond with the people of Agbara.”

For the new beneficiaries, the programme offers both promise and practical tools to transform their businesses. Mrs. Eniola Fausat, one of the participants, expressed her gratitude and optimism.

“This opportunity has opened my eyes to what is possible in my business,” Fausat said.

“With the training and support, I am now more confident that I can improve my shop and better support my family. I thank Nestlé and the Alagbara for believing in us.”

More Than Just Grants: Structured Business Growth

Each participant in the programme receives business development training covering topics such as entrepreneurship, bookkeeping, merchandising, and customer service—critical skills for operating and scaling retail shops. The initiative also assigns personal mentors to guide the women through the early months of their business transformation.

Nestlé’s focus on sustainable impact is evident in the design of the programme, which aims not only to increase income for participants but also to catalyze broader economic benefits for their communities. With each new location added, the initiative strengthens local economies by empowering women to become successful entrepreneurs and community role models.

A Legacy of Inclusive Growth

Now in its fifth year, Nestlé Empowering Rural Women in Nigeria has touched lives in nine different locations across the country. The programme exemplifies Nestlé Nigeria’s corporate commitment to creating shared value—a business philosophy where success is measured not only by profit margins but by social impact.

As the women of Agbara begin their journeys with renewed hope and stronger business acumen, Nestlé looks ahead to scaling even further, enabling more women to take control of their economic futures and build stronger communities.

In a defining moment for Nigeria’s automotive industry, Sikkens Nigeria, the country’s leading automotive coatings brand, emerged as a double award winner at the 11th Transport Day Media Lecture and Awards 2025, held at Radisson Blu Hotel, GRA, Ikeja.

The highly-anticipated event, themed “Sustainable Transportation in Nigeria: Prospects and Challenges”, brought together industry leaders, transport policymakers, fleet managers, and technical professionals. But amidst the celebration of progress, one name continued to shine with consistent brilliance—Sikkens.

Honours for Innovation and Leadership

Sikkens Nigeria was awarded the coveted “Auto Paint of the Year”, recognizing its continued excellence in automotive refinishing technology, durability, and climate-specific performance.

Receiving the award on behalf of the company, Mr. Israel Oyekanmi, Technical Support Manager, reaffirmed Sikkens’ vision:

“We are honored by these recognitions and remain committed to driving innovation in Nigeria’s automotive industry.”

Adding to its laurels, Mr. Onuh Gowon (FCA, CFAN), Managing Director of Sikkens Nigeria, was named “Distinguished Auto Aftermarket Personality of the Year”, celebrating his pivotal role in shaping Nigeria’s auto aftermarket. The award was received on his behalf by Mrs. Oloche Pauline, Manager of Marketing and Digital Innovation.

The Science Behind the Shine

Beyond the accolades, Sikkens showcased the very innovations that earned it such acclaim. Experts at the event highlighted the Sikkens Auto System, which includes:

Auto Base Plus: Offers flawless color match, smooth application, and exceptional vibrancy.

Reducer Medium: Perfectly calibrated for Nigeria’s varying workshop conditions, ensuring even basecoat flow.

Auto Clear Plus HS: Delivers a “showroom-quality” high-gloss finish with exceptional self-levelling and durability.

P35 Hardener: A top-tier catalyst ensuring resilience, temperature adaptability, and long-lasting results.

“This trio is a dream team for refinishing professionals,” said one paint technician. “Whether for daily repairs or luxury restoration, the results speak volumes.”

Beyond Products: A Commitment to Service

Sikkens’ impact isn’t limited to its paint technology. Attendees widely praised the brand’s ecosystem—from its nationwide technical training programmes to customer support networks that empower workshops and body shops with both tools and knowledge.

“Sikkens equips us not just with materials, but with expertise,” said a leading body shop owner. “They’re raising the bar for the entire industry.”

Consistency That Commands Respect

This is not Sikkens’ first brush with glory at the Transport Day Awards. The company’s consistent recognition year after year underscores its deep understanding of the Nigerian transport landscape and relentless pursuit of excellence.

“This isn’t a fluke,” said a transport analyst at the event. “Their consistency proves leadership, not luck.”

An attendee captured the industry’s sentiment aptly:

“They understand what durability and finish mean in our harsh conditions, especially with so many substandard brands in the market.”

A Symbol of Excellence

The awards presented at this year’s Transport Day Lecture were more than ceremonial. For Sikkens, they symbolised a legacy built on quality, innovation, and trust.

“To the Transport Day Media team, thank you for this incredible honor,” said Mrs. Oloche Pauline. “This award fuels our mission to redefine Nigeria’s auto paint industry with superior finishes that protect, shine, and last.”

As Nigeria charts a path toward eco-conscious transportation, Sikkens has aligned itself as a solutions leader—offering durable, climate-adapted, and sustainable coating technologies.

Looking Ahead: A Future Polished in Gold

As the event wrapped up, Sikkens’ double wins were the talk of the evening. The gleaming trophies on display weren’t just metal—they were testaments to decades of trust, hard work, and a relentless drive to push boundaries.

“They’ve set a very high bar,” a rival paint firm’s representative admitted. “Their consistency is remarkable.”

With its unmatched product quality, client-centric service, and clear industry leadership, the golden touch of Sikkens Nigeria is not just a standard—it’s the future of automotive coatings in Africa.