Morison Industries Plc reported a loss after tax of N10.28 million for the half-year ended June 30, 2026, deepening from a loss of N4.33 million in the same period of 2025. Although revenue grew by 21.42 percent to N274 million, rising operating and distribution costs weighed heavily on profitability. The firm transitioned from an operating profit of N5.42 million last year to an operating loss of N3.52 million in 2026. Despite the financial performance, the company’s stock has seen significant momentum, posting a year-to-date gain of over 100 percent.

May & Baker Nigeria Plc led the pharmaceutical sector in profitability for the first half of 2026, achieving a net profit margin of 16.59 percent. While the combined profit margin for five major listed pharma firms rose to 10.24 percent, May & Baker’s performance was distinct because it stemmed from improved cost efficiency rather than top-line revenue growth. Fidson Healthcare followed with a 10.37 percent margin, while MeCure Industries and Neimeth International Pharmaceuticals recorded 7.76 percent and 5.65 percent respectively. Morison Industries trailed the group, posting a net loss for the period.

Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has stated that the regulator will maintain heightened supervision of the banking sector despite the successful conclusion of the recent recapitalisation exercise.

Speaking at the BusinessDay 14th Annual CEO Forum, Cardoso noted that while the industry raised between N4 trillion and N5 trillion in fresh capital to build resilience against economic shocks, continuous oversight remains essential. He emphasized that the stronger capital base is intended to support eventual increased lending to the private sector once inflation and interest rates moderate. Cardoso also warned banks against indiscriminate lending, urging them to prioritize sophisticated risk management and proper analysis, especially when navigating complex sectors like oil and gas. The CBN plans to collaborate with financial institutions to enhance their internal risk assessment capabilities.