Access Holdings Grows Profit Before Tax by 10.4% to N616bn in Q3 2025

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November 1, 2025
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Kayode Tokede

Access Holdings Plc, yesterday announced a N616 billion profit before tax for the third quarter (Q3) ended September 30, 2025, which was a 10.4 per cent year-on-year (YoY) increase over the N558 billion declared in the third quarter (Q3) ended September 30, 2024.

The group from the profit & loss figures recorded improved performance for Q3 2025, with gross earnings rising by 14.1 per cent YoY to N3.9trillion from N3.4 trillion as at Q3 2024.

The Company Secretary, Access Holdings, Sunday Ekwochi, in a statement stated that, “This performance was driven by sustained growth in both interest and fees and commission, reflecting the strength of the Group’s diversified earnings base and improved performance from core operations across its banking and non-banking businesses.

“Maintaining the same momentum, gross earnings rose by 56.2per cent quarter-on-quarter from N2.5 trillion as at Half Year (H1) 2025. Interest income rose by 21.1 per cent year-on-year to N2.9 trillion in Q3 2025, compared to N2.4 trillion in Q3 2024.

“Net interest income also increased by 48.9per cent to N1.3 trillion from N845 billion in the same period. This performance was driven by loan book expansion, reflecting our disciplined risk management approach and a strategic focus towards higher-yielding, quality assets to strengthen portfolio returns.

“On a quarter-on-quarter basis, interest income and net interest income grew by 42.1per cent and 27.8per cent, respectively, from N2.0 trillion and N984 billion in H1 2025.

“There was 44.3per cent growth in net fee and commission to N476 billion in Q3 2025 from N330 billion in Q3 2024, reflecting higher transaction volumes and increased customer activity across digital and payment channels across both periods. On a quarter-on-quarter basis, net fee and commission income also increased by 100.8per cent from N237billion in H1 2025.

“While total non-interest income declined marginally by 8.1 per cent to N872 billion in Q3 2025 from N984 trillion in Q3 2024, the Group’s growth momentum from core operations continues to support overall earnings trajectory.”

He noted that operating income rose 18.8 per cent to N2.13 trillion in Q3 2025 from N1.8trillion in Q3 2024, while impairment on loans increased by 141.5 per cent to N350 billion as of Q3 2025 from N145 billion in Q3 2024.

“Operating expenses increased marginally by 6.7 per cent in Q3 2025 to N1.2 trillion from N1.1trillion in Q3 2024. The cost-to-income ratio (CIR) improved to 54.6 per cent in Q3 2025 from 60.8per cent as at Q3 2024, as revenue growth outpaced operating expenses. We expect cost-to-income ratio to stay moderated from ongoing efficiency initiatives, cost optimisation measures, and stronger revenue across the Group.”

“Compared to H1 2025 performance, profitability demonstrated resilience, as profit before tax (PBT) increased by 91.9 per cent from N321billion in H1 2025 YTD to N616 billion in Q3 2025. Profit after tax (PAT) also showed improvement in the period with a 107.9 per cent increase to N447 billion in Q3 2025 from N215 billion as at H1 2025 YTD.

“The Group’s balance sheet increased with total assets growing by 25.8per cent to N52.0 trillion in Q3 2025 from N41.5 trillion in FY 2024. The growth in balance sheet was supported by customer deposits, which grew by 47 per cent to N33.1 trillion in Q3 2025 from N22.5 trillion in FY 2024. Loans and advances increased by 19.7 per cent to N15.6trillion in Q3 2025 from N13.0 trillion in Q3 2024. The Group is positioned to unlock revenue synergies, enhance cross-border collaboration, and drive sustainable earnings growth.

“The Group’s strong performance was largely driven by its non-Nigerian subsidiaries, which together contributed over 50 per cent of consolidated results.

“These subsidiaries continued to deliver strong growth across key metrics, reflecting the benefits of diversification and deepening franchise strength across our African markets. In comparison, the Nigerian operations experienced underperformance during the period, attributable to changing macroeconomic conditions, inflationary pressures, and continued regulatory adjustments. Despite these headwinds, the Group’s diversified structure continued to provide stability and resilience.”

Looking ahead, He added that, “We will continue to strengthen our franchise across all our markets and businesses, deepen operational resilience, and create sustainable value for all our stakeholders.

“We appreciate the continued trust and support of our shareholders, customers, and employees. Together, we are shaping a resilient and inclusive franchise that is anchored in prudent portfolio management, guided by innovation, and committed to sustainable growth.”

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Dangote Refinery Guarantees Consistent Petrol, Diesel Supply

*Delivers 45 million litres of petrol, 25 million litres of diesel daily

Peter Uzoho

Dangote Petroleum Refinery has reaffirmed its commitment to ensuring steady and uninterrupted supply of Premium Motor Spirit (PMS), commonly referred to as petrol, and Automotive Gas Oil (diesel) nationwide, with a daily production capacity exceeding the domestic demand.
Speaking on the development, Group Chief Branding and Communications Officer, Dangote Industries Limited, Anthony Chiejina, said the refinery’s operations are driven by the company’s dedication to supporting national energy stability and consumer confidence.

“Our refinery is currently loading over 45 million litres of PMS and 25 million litres of diesel daily which exceeds Nigeria’s demand,” Chiejina said in a statement yesterday. “We are working collaboratively with regulatory agencies and distribution partners to guarantee efficient nationwide delivery. Dangote remains steadfast in its commitment to meeting the energy needs of Nigerians. This significant production capacity not only guarantees local supply but also enhances energy security and reduces dependence on imports,” he added.

He noted that improved local production of petroleum products has helped stabilise the exchange rate and strengthen the naira.
“We have reduced foreign exchange outflows and increased inflows, which in turn supports the naira and strengthens the economy,” he added.
He further explained that it would be unpatriotic for anyone to criticise the recently announced tariff, which, according to him, was a good start. He emphasised that the tariff was designed to protect domestic industries from unfair competition and safeguard local production.

“Dumping engenders poverty, discourages industrialisation, creates unemployment and leads to revenue loss for the government. Across the world, nations protect their local manufacturers and industries from the threat of dumping. Dumping destroyed our textile industry, which was once a major employer of labour and creator of wealth,” he added.
He noted that beyond the tariff, the government should strengthen its monitoring and enforcement mechanisms to prevent the dumping of substandard and toxic petroleum products by unscrupulous and rent-seeking individuals who prioritise profiteering at the expense of Nigerians, often undermining well-intentioned government policies for their selfish interests.

He added that the prevalence of dumping in past years discouraged investors from establishing industries in Nigeria, as imported products flooded the market at unsustainable prices, undermining local production. The new tariff policy, he noted, would benefit local refiners and encourage fresh investments in the downstream oil sector, thereby strengthening Nigeria’s industrial base and creating more jobs.

He commended the foresight of President Bola Ahmed Tinubu for approving the tariff policy aimed at strengthening and transforming Nigeria’s downstream oil and gas sector. He noted that the decision reflects the administration’s commitment to creating a stable, business-friendly environment that supports local investment and enhances energy security.
“President Bola Ahmed Tinubu continues to embody courageous and visionary leadership, renewing the hope of Nigerians and restoring investor confidence in the nation’s economy. His administration’s bold and business-friendly reforms are reshaping the downstream oil and gas sector, unlocking new opportunities for industrial growth and national prosperity. The latest policy initiative stands as a testament to his foresight — one of the most transformative steps yet toward securing Nigeria’s energy future and empowering local industries to thrive,” he said.

He warned that failure to protect local industries could lead to large-scale dumping from countries in Asia and Europe with excess production capacity. Such practices, he said, would strangulate domestic refineries, cripple allied industries, and undermine the laudable policies of Tinubu’s administration aimed at promoting industrial growth and economic stability.

Chiejina urged rent-seekers to reconsider their business practices and align with the Federal Government’s vision for a self-sustaining energy sector, rather than promoting the dumping of petroleum products in Nigeria. He emphasised the need for a collective sense of patriotism and responsibility among industry stakeholders, noting that national progress can only be achieved through shared commitment to policies that strengthen local industries and protect the economy.

Equipped with advanced technology and extensive infrastructure, the refinery was expected to significantly eliminate reliance on fuel imports, enhance supply chain stability, and alleviate pressure on foreign exchange reserves.

President of Dangote Industries Limited, Aliko Dangote, recently assured Nigerians that the prices of petrol will not be hiked during the ember months, despite recent global price increases.

“I want to assure Nigerians that the Dangote Refinery is fully committed to maintaining an uninterrupted supply of petrol throughout the festive period. Nigerians can look forward to a Christmas and New Year free of fuel anxiety.”

Since commencing petrol production in September 2024, Dangote Petroleum Refinery has played a pivotal role in ensuring price stability, reducing the cost of petrol, aimed at stabilising the market and easing the burden on consumers. It has also eliminated the recurring fuel scarcity and long queues at filling stations that Nigeria often experienced, particularly during festive periods.

He noted that the average price of Premium Motor Spirit (PMS) in September 2024 was about N1,030 per litre, compared to an average of N841–N851 per litre in September 2025, following the implementation of the Dangote Refinery’s Direct Delivery Scheme.

Similarly, as of September 2024, the pump price of Automotive Gas Oil (AGO) ranged between N1,400 and N1,700 per litre, depending on the state, with prices reaching up to N1,700 in most northern states. By September 2025, however, the average price had dropped significantly to around N1,020 per litre, reflecting the refinery’s impact on stabilising the market and reducing logistics costs.

In comparison, petrol prices in neighbouring West African countries range between $1.20 and $2.00 per litre, while the average price in Nigeria remains around $0.60 per litre, a clear indication of the refinery’s profound impact on affordability and supply stability.

*Delivers 45 million litres of petrol, 25 million litres of diesel daily Peter Uzoho Dangote Petroleum Refinery has reaffirmed its commitment to ensuring steady and uninterrupted supply of Premium Motor

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Trump Lists Nigeria as ‘Country of Particular Concern’ Amid Alleged Christian Killings

*FG to issue official response today

Sunday Ehigiator

President Donald Trump yesterday designated Nigeria a ‘Country of Particular Concern,’ citing alleged widespread killings of Christians and rising religious intolerance.
“Christianity is facing an existential threat in Nigeria,” Trump posted on Truth Social. “Thousands of Christians are being killed. Radical Islamists are responsible for this mass slaughter. I am hereby making Nigeria a “COUNTRY OF PARTICULAR CONCERN” — But that is the least of it.”

This comes despite pushback from the Nigerian government, as only a few days ago, the Minister of Information and National Orientation, Mohammed Idris, faulted some US lawmakers for relying on what he described as “inaccurate and misleading data” to accuse Nigeria of carrying out a Christian genocide.
When contacted yesterday, Bayo Onanuga, the Special Adviser on Information and Strategy to President Bola Tinubu, said the “Federal Government of Nigeria is studying the situation and by tomorrow (today), we shall respond.”
The ‘Countries of Particular Concern’ is a list of nations the US finds to have engaged in religious freedom violations. The list includes China, Myanmar, North Korea, Russia, Pakistan, among others, according to the State Department website.

The US President emphasised that action must be taken when people are persecuted for their faith.
FOX News quoted Trump to have said he had directed Rep. Riley Moore, R-W. Va., Rep. Tom Cole, R-Okla., and members of the House Appropriations Committee to investigate the situation and report their findings to him.

“The United States cannot stand by while such atrocities are happening in Nigeria, and numerous other Countries,” Trump said. “We stand ready, willing, and able to save our Great Christian population around the World!”
According to the international watchdog group Open Doors, nearly 70 percent of all Christians killed for their faith worldwide last year were in Nigeria. The group warned that Boko Haram, Islamic State West Africa Province (ISWAP), and Fulani militant herders were responsible for most of the bloodshed, often targeting Christian farmers in the country’s Middle Belt. Rights organisations estimate that thousands of believers are murdered every year, while countless others are forced to flee.

Trump’s ambassador-designate for International Religious Freedom, Mark Walker, told Fox News Digital that the United States must do what it can to pressure Nigeria’s government to act.
“Even being conservative, it’s probably 4,000 to 8,000 Christians killed annually,” Walker said. “This has been going on for years — from ISWAP to Islamist Fulani ethnic militias — and the Nigerian government has to be much more proactive.”
The White House also acknowledged a surge in anti-Christian violence across sub-Saharan Africa, where jihadist movements were exploiting political instability and porous borders. Both Pope Leo and the U.S. State Department had condemned recent massacres in Nigeria, warning that the crisis risks spreading beyond the country’s borders.

Walker added, “The United States should always stand up for freedom of religion, and that starts with speaking the truth about what’s happening.”
While humanitarian groups continue to raise alarm, Nigeria’s Information Minister, Idris recently told Fox News Digital that claims of mass persecution are “very misleading,” rejecting U.S. reports that tens of thousands have been killed.
Idris spoke during an interview on CNN earlier this week, saying the claims, which prompted calls for US Secretary of State Marco Rubio to impose diplomatic sanctions on Nigeria, distort the country’s complex security realities.
“Some of the claims made by officials of the United States are based on faulty data and the assumption that victims of violence are largely Christians,” Idris had said.

“Yes, there are Christians being attacked, but these criminals do not target one religion — they attack both Christians and Muslims, especially in the northern part of the country.”
According to Idris, the federal government remains committed to protecting religious freedom and upholding human rights, democracy, and the rule of law. He emphasised that freedom of religion is guaranteed under the Nigerian Constitution and must be respected by all.

The minister warned that spreading false narratives about a religious genocide risks playing into the hands of criminals who seek to incite sectarian conflict. He insisted that Nigeria’s insecurity should not be characterised as a religious war.

“Characterising these attacks as being against Christians alone will drive Nigeria towards unnecessary division,” he said.

“The criminals want to portray the situation as a fight between Christians and Muslims. It is wrong to describe Nigeria as a country that does not tolerate religious freedom. It is also inaccurate to say that nowhere is safe in Nigeria. Our country is indeed safe.”

Idris maintained that Nigeria remains a tolerant nation where people of diverse faiths coexist peacefully, adding that it was wrong to describe the country as unsafe or hostile to religious freedom.

While admitting that Nigeria continues to grapple with security challenges, Idris said the administration of President Bola Tinubu has demonstrated stronger commitment and better coordination among security agencies to tackle the problem.

He added that recent changes in the leadership of the armed forces were part of efforts to enhance Nigeria’s security architecture and ensure a faster, more effective response to emerging threats.

“Yes, we have security issues in Nigeria, but the government has made massive investments to ensure safety for everyone,” he noted.

Idris added, “In recent years, the government has focused more attention on improving security through better military hardware and strategy.”

“We are also investing in agriculture and social services to strengthen non-kinetic approaches to peacebuilding. Even the recent changes in service chiefs were made to improve our security architecture and ensure government responds effectively to emerging threats.”

Onanuga, had dismissed the criticism, saying, “Christians are not targeted. We have religious harmony in our country.”

*FG to issue official response today Sunday Ehigiator President Donald Trump yesterday designated Nigeria a ‘Country of Particular Concern,’ citing alleged widespread killings of Christians and rising religious intolerance.“Christianity is

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Access Holdings Grows Profit Before Tax by 10.4% to N616bn in Q3 2025

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