Business
Catch Hollywood’s biggest awards ceremony, the Oscars® on DStv
Hosted by Jimmy Kimmel, the 89th Academy Awards will be broadcast live on DStv this Monday, 27 February on M-Net Movies Premiere, DStv channel 104 at 2:30am and during Prime Time on M-Net, DStv channel 101/102, from 6:30pm.
The Oscars also will be televised in more than 225 countries and territories worldwide. Viewers can look forward to seeing perfomances by Oscar®-nominees Lin-Manuel Miranda, Sting, Justin Timberlake and 2014 Oscar-winner John Legend. Movies currently distributed by M-Net (highlighted in yellow): Hacksaw Ridge, Florence Foster Jenkins and La La Land are also competing for the most coveted award in their categories.
For more information, visit mnet.tv. Follow M-Net on Twitter @MNet (#Oscars #MMPremiere #MNet101) and Facebook https://www.facebook.com/MNet/
Attached is an image of Jimmy Kimmel. More images available on request.
Please see below the list of nominees:
Performance by an actor in a leading role
Casey Affleck in Manchester by the Sea
Andrew Garfield in Hacksaw Ridge
Ryan Gosling in La La Land
Viggo Mortensen in Captain Fantastic
Denzel Washington in Fences
Performance by an actor in a supporting role
Mahershala Ali in Moonlight
Jeff Bridges in Hell or High Water
Lucas Hedges in Manchester by the Sea
Dev Patel in Lion
Michael Shannon in Nocturnal Animals
Performance by an actress in a leading role
Isabelle Huppert in Elle
Ruth Negga in Loving
Natalie Portman in Jackie
Emma Stone in La La Land
Meryl Streep in Florence Foster Jenkins
Performance by an actress in a supporting role
Viola Davis in Fences
Naomie Harris in Moonlight
Nicole Kidman in Lion
Octavia Spencer in Hidden Figures
Michelle Williams in Manchester by the Sea
Best animated feature film of the year
“Kubo and the Two Strings” Travis Knight and Arianne Sutner
“Moana” John Musker, Ron Clements and Osnat Shurer
“My Life as a Zucchini” Claude Barras and Max Karli
“The Red Turtle” Michael Dudok de Wit and Toshio Suzuki
“Zootopia” Byron Howard, Rich Moore and Clark Spencer (Catch it on M-Net Movies Premiere at 104 on Sunday 26 February at 18:40)
Achievement in cinematography
“Arrival” Bradford Young
“La La Land” Linus Sandgren
“Lion” Greig Fraser
“Moonlight” James Laxton
“Silence” Rodrigo Prieto
Achievement in costume design
“Allied” Joanna Johnston
“Fantastic Beasts and Where to Find Them” Colleen Atwood
“Florence Foster Jenkins” Consolata Boyle
“Jackie” Madeline Fontaine
“La La Land” Mary Zophres
Achievement in directing
“Arrival” Denis Villeneuve
“Hacksaw Ridge” Mel Gibson
“La La Land” Damien Chazelle
“Manchester by the Sea” Kenneth Lonergan
“Moonlight” Barry Jenkins
Best documentary feature
“Fire at Sea”
A Stemal Entertainment Production
Gianfranco Rosi and Donatella Palermo
“I Am Not Your Negro”
A Velvet Film Production
Raoul Peck, Rémi Grellety and Hébert Peck
“Life, Animated”
A Motto Pictures and A&E IndieFilms Production
Roger Ross Williams and Julie Goldman
“O.J.: Made in America”
A Laylow Films and ESPN Films Production
Ezra Edelman and Caroline Waterlow
“13th”
A Forward Movement Production
Ava DuVernay, Spencer Averick and Howard
Barish
Best documentary short subject
“Extremis”
An f/8 Filmworks in association with Motto Pictures
Production
Dan Krauss
“4.1 Miles”
A University of California, Berkeley Production
Daphne Matziaraki
“Joe’s Violin”
A Lucky Two Production
Kahane Cooperman and Raphaela Neihausen
“Watani: My Homeland”
An ITN Production
Marcel Mettelsiefen and Stephen Ellis
“The White Helmets” (Netflix)
A Grain Media and Violet Films Production
Orlando von Einsiedel and Joanna Natasegara
Achievement in film editing
“Arrival” Joe Walker
“Hacksaw Ridge” John Gilbert
“Hell or High Water” Jake Roberts
“La La Land” Tom Cross
“Moonlight” Nat Sanders and Joi McMillon
Best foreign language film of the year
“Land of Mine”
A Nordisk Film Production
Denmark
“A Man Called Ove”
A Tre Vänner Production
Sweden
“The Salesman”
An Asghar Farhadi/Memento Films Production
Iran
“Tanna”
A Contact Films Production
Australia
“Toni Erdmann”
A Komplizen Film Production
Germany
Achievement in makeup and hairstyling
“A Man Called Ove” Eva von Bahr and Love Larson
“Star Trek Beyond” Joel Harlow and Richard Alonzo
“Suicide Squad” Alessandro Bertolazzi, Giorgio Gregorini and
Christopher Nelson
Achievement in music written for motion pictures (Original score)
“Jackie” Mica Levi
“La La Land” Justin Hurwitz
“Lion” Dustin O’Halloran and Hauschka
“Moonlight” Nicholas Britell
“Passengers” Thomas Newman
Achievement in music written for motion pictures (Original song)
“Audition (The Fools Who Dream)” from “La La Land”
Music by Justin Hurwitz
Lyric by Benj Pasek and Justin Paul
“Can’t Stop The Feeling” from “Trolls”
Music and Lyric by Justin Timberlake, Max Martin
and Karl Johan Schuster
“City Of Stars” from “La La Land”
Music by Justin Hurwitz
Lyric by Benj Pasek and Justin Paul
“The Empty Chair” from “Jim: The James Foley Story”
Music and Lyric by J. Ralph and Sting
“How Far I’ll Go” from “Moana”
Music and Lyric by Lin-Manuel Miranda
Best motion picture of the year
“Arrival”
A Paramount Pictures Production
Shawn Levy, Dan Levine, Aaron Ryder and David
Linde, Producers
“Fences”
A Paramount Pictures Production
Scott Rudin, Denzel Washington and Todd Black,
Producers
“Hacksaw Ridge”
A Pandemonium Films/Permut Presentations
Production
Bill Mechanic and David Permut, Producers
“Hell or High Water”
A Sidney Kimmel Entertainment/Film 44/LBI
Entertainment/OddLot Entertainment Production
Carla Hacken and Julie Yorn, Producers
“Hidden Figures”
A Fox 2000 Pictures Production
Donna Gigliotti, Peter Chernin, Jenno Topping,
Pharrell Williams and Theodore Melfi, Producers
“La La Land”
An Impostor Pictures/Gilbert Films/Marc Platt
Production
Fred Berger, Jordan Horowitz and Marc Platt,
Producers
“Lion”
A See-Saw Films Production
Emile Sherman, Iain Canning and Angie Fielder,
Producers
“Manchester by the Sea”
A Pearl Street Films/The Media Farm/K Period
Media/The A | Middleton Project/B Story Production
Matt Damon, Kimberly Steward, Chris Moore,
Lauren Beck and Kevin J. Walsh, Producers
“Moonlight”
A Dos Hermanas Production
Adele Romanski, Dede Gardner and Jeremy
Kleiner, Producers
Achievement in production design
“Arrival” Production Design:
Set Decoration:
Patrice Vermette
Paul Hotte
“Fantastic Beasts and Where to Find Them” (Warner Bros.) Production Design:
Set Decoration:
Stuart Craig
Anna Pinnock
“Hail, Caesar!” Production Design:
Set Decoration:
Jess Gonchor
Nancy Haigh
“La La Land” Production Design:
Set Decoration:
David Wasco
Sandy Reynolds-Wasco
“Passengers” Production Design:
Set Decoration:
Guy Hendrix Dyas
Gene Serdena
Best animated short film
“Blind Vaysha”
A National Film Board of Canada Production
Theodore Ushev
“Borrowed Time”
A Quorum Films Production
Andrew Coats and Lou Hamou-Lhadj
“Pear Cider and Cigarettes”
A Massive Swerve Studios and Passion Pictures
Animation Production
Robert Valley and Cara Speller
“Pearl”
A Google Spotlight Stories and Evil Eye Pictures
Production
Patrick Osborne
“Piper”
A Pixar Animation Studios Production
Alan Barillaro and Marc Sondheimer
Best live action short film
“Ennemis Intérieurs”
A Qualia Films Production
Sélim Azzazi
“La Femme et le TGV”
An arbel Production
Timo von Gunten and Giacun Caduff
“Silent Nights”
A M & M Production
Aske Bang and Kim Magnusson
“Sing”
A Meteor Filmstudio Production
Kristof Deák and Anna Udvardy
“Timecode”
A Nadir Films Production
Juanjo Giménez
Achievement in sound editing
“Arrival” Sylvain Bellemare
“Deepwater Horizon” Wylie Stateman and Renée Tondelli
“Hacksaw Ridge” Robert Mackenzie and Andy Wright
“La La Land” Ai-Ling Lee and Mildred Iatrou Morgan
“Sully” Alan Robert Murray and Bub Asman
Achievement in sound mixing
“Arrival” Bernard Gariépy Strobl and Claude La Haye
“Hacksaw Ridge” Kevin O’Connell, Andy Wright, Robert Mackenzie
and Peter Grace
“La La Land” Andy Nelson, Ai-Ling Lee and Steve A. Morrow
“Rogue One: A Star Wars Story” David Parker, Christopher Scarabosio and Stuart
Wilson
“13 Hours: The Secret Soldiers of Benghazi” Greg P. Russell, Gary Summers, Jeffrey J. Haboush and Mac Ruth
Achievement in visual effects
“Deepwater Horizon” Craig Hammack, Jason Snell, Jason Billington
and Burt Dalton
“Doctor Strange” Stephane Ceretti, Richard Bluff, Vincent Cirelli
and Paul Corbould
“The Jungle Book” Robert Legato, Adam Valdez, Andrew R. Jones
and Dan Lemmon
“Kubo and the Two Strings” Steve Emerson, Oliver Jones, Brian McLean and
Brad Schiff
“Rogue One: A Star Wars Story” John Knoll, Mohen Leo, Hal Hickel and Neil
Corbould
Adapted screenplay
“Arrival” Screenplay by Eric Heisserer
“Fences” Screenplay by August Wilson
“Hidden Figures” Screenplay by Allison Schroeder and Theodore
Melfi
“Lion” Screenplay by Luke Davies
“Moonlight” Screenplay by Barry Jenkins;
Story by Tarell Alvin McCraney
Original screenplay
“Hell or High Water” Written by Taylor Sheridan
“La La Land” Written by Damien Chazelle
“The Lobster” Written by Yorgos Lanthimos, Efthimis Filippou
“Manchester by the Sea” Written by Kenneth Lonergan
“20th Century Women” Written by Mike Mills
MOTION PICTURE NOMINATIONS – 89TH AWARDS
NOMINATIONS BY PICTURE
(This list does not include Short Films or Documentary Short Subjects.)
“Allied,” a Paramount Pictures Production
Costume design
(1 nomination)
“Arrival,” a Paramount Pictures Production
Cinematography
Directing
Film editing
Best picture
Production design
Sound editing
Sound mixing
Adapted screenplay
(8 nominations)
“Captain Fantastic,” an Electric City Entertainment/ShivHans Pictures Production (BleeckerStreet) Viggo Mortensen – Performance by an actor in a leading role
(1 nomination)
“Deepwater Horizon,” a di Bonaventura Pictures/Closest to the Hole/Leverage Entertainment
Production
Sound editing
Visual effects
(2 nominations)
“Doctor Strange,” a Marvel Studios Production (
Visual effects
(1 nomination)
“Elle,” an SBS Production
Isabelle Huppert – Performance by an actress in a leading role
(1 nomination)
“Fantastic Beasts and Where to Find Them,” a Boswell Street Production Costume design
Production design
(2 nominations)
“Fences,” a Paramount Pictures Production
Denzel Washington – Performance by an actor in a leading role
Viola Davis – Performance by an actress in a supporting role
Best picture
Adapted screenplay
(4 nominations)
“Fire at Sea,” a Stemal Entertainment Production
Documentary feature
(1 nomination)
“Florence Foster Jenkins,” a Paramount Pictures Production
Meryl Streep – Performance by an actress in a leading role
Costume design
(2 nominations)
“Hacksaw Ridge,” a Pandemonium Films/Permut Presentations Production
Andrew Garfield – Performance by an actor in a leading role
Directing
Film editing
Best picture
Sound editing
Sound mixing
(6 nominations)
“Hail, Caesar!,” a Working Title Films Production (Universal)
Production design
(1 nomination)
“Hell or High Water,” a Sidney Kimmel Entertainment/Film 44/LBI Entertainment/OddLot
Entertainment Production
Jeff Bridges – Performance by an actor in a supporting role
Film editing
Best picture
Original screenplay
(4 nominations)
“Hidden Figures,” a Fox 2000 Pictures Production
Octavia Spencer – Performance by an actress in a supporting role
Best picture
Adapted screenplay
(3 nominations)
“I Am Not Your Negro,” a Velvet Film Production
Documentary feature
(1 nomination)
“Jackie,”
Fidelity Bank grows gross earnings by 38% to N434.95b in Q1
Fidelity Bank Plc recorded 37.9 per cent growth in gross earnings to N434.95 billion in first quarter 2026 as the international commercial bank continued to expand its core banking market share.
Interim report and accounts of Fidelity Bank for the three months ended March 31, 2026 released at the Nigerian Exchange (NGX) showed that gross earnings rose from N315.42 billion in first quarter 20025 to N434.95 billion in first quarter 2026, representing an increase of 37.9 per cent.
The top-line performance was driven by impressive growth in the bank’s core business operations with interest incomes rising by 22.8 per cent to N314.48 billion in first quarter 2026 as against N256.10 billion in first quarter 2025.
With net interest income at N180.97 billion, the bank closed the period with profit before tax of N92.48 billion. After taxes, net profit stood at N74.47 billion for the three-month period. Earnings per share remained high at N5.69, underlining the capacity of the bank to reward its shareholders.
The balance sheet of the bank also emerged stronger. Total assets crossed the N11 trillion mark to N11.35 trillion by March 2026 compared with N10.46 trillion recorded in December 2025. Customers’ deposits increased from N6.89 trillion to N7.38 trillion. Total equity rode on the back of earnings growth to a 27.5 per cent increase from N1.09 trillion in December 2025 to N1.39 trillion by March 2026.
The first quarter 2026 results further consolidated the strong earnings outlook of the bank, which had successfully completed its recapitalisation amidst impressive earnings performance in 2025.
Fidelity Bank had recorded double-digit growths in interest and non-interest incomes as well as key balance sheet items during the year ended December 31, 2025.
The audited report showed that gross earnings rose from N1.04 trillion in 2024 to N1.52 trillion in 2025, an increase of 45.6 per cent. Interest and similar incomes had grown by 38.7 per cent from N803.1 billion in 2024 to N1.11 trillion in 2025. Fees and commission incomes also rose by 44.7 per cent from N78.4 billion to N113.4 billion. The bank recorded net profit after tax of N242.4 billion in 2025.
The bank’s balance sheet emerged stronger with total assets rising by 18.6 per cent to N10.46 trillion in 2025 as against N8.82 trillion in 2024. Customer deposits increased by 16.1 per cent from N5.94 trillion to N6.89 trillion, reflecting continued franchise strength and an improved funding profile. Net loans and advances meanwhile declined by 2.4 per cent to N4.28 trillion in 2025 as against N4.39 trillion in 2024, attributable to customers paying down on their mature obligations.
The bank had in 2025 strengthened its capital position, with eligible capital rising to N561 billion, above the regulatory minimum of N500 billion for banks with international authorisation. In addition, capital adequacy had remained robust, with Capital Adequacy Ratio of 30.94 per cent by December 2025 as against 23.47 per cent by December 2024.
Managing Director, Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, said the first quarter 2026 results reinforced the bank’s strong and resilient business model.
She noted that with the remarkable success of its recapitalisation programme and continuing expansion, Fidelity Bank has entered a new era of growth and impressive returns.
“We are on a stronger footing and confident that we will set new growth records that are reflective of our legacy and the future we are working on,” Onyeali-Ikpe said.
Business
Dangote Refinery Ends Nigeria’s Era of Fuel Import Dependence, Boosts GDP, FX Earnings — EIU
Dangote Refinery Ends Nigeria’s Era of Fuel Import Dependence, Boosts GDP, FX Earnings — EIU
The operational ramp up of the 650,000 barrels per day Dangote Petroleum Refinery & Petrochemicals is fundamentally reshaping Nigeria’s downstream oil sector, significantly reducing the country’s dependence on imported refined petroleum products and strengthening its external position, according to the Economist Intelligence Unit (EIU).
In its latest assessment on Nigeria’s fuel market and regulatory environment, the EIU said the refinery has already transformed a sector that was previously characterised by heavy reliance on imported fuel despite Nigeria being Africa’s largest crude oil producer. The report noted that the refinery met nearly 80 per cent of domestic petrol demand in April and produced enough volumes to satisfy local consumption requirements as operations approached full capacity.
The EIU described Nigeria’s downstream petroleum sector before the refinery as “long dysfunctional”, noting that the country had remained almost entirely dependent on costly imported fuel while producing nearly 1.5 million barrels of crude oil daily.
According to the report, the emergence of the refinery has reduced import dependence, improved domestic fuel availability and strengthened Nigeria’s balance of payments position through lower import demand and rising exports of refined petroleum products.
“The gradual ramp up of the 650,000 barrel/day Dangote refinery since May 2023 has transformed Nigeria’s long dysfunctional downstream sector,” the report stated. “The country’s main refineries, all state owned, had been inoperative for years and Nigeria was almost entirely reliant on costly imported fuel.”
The research and analysis division of The Economist Group, London added that the refinery’s attainment of full operational capacity and its planned expansion would further support Nigeria’s economic growth and foreign exchange earnings over the medium term.
“Meanwhile, the attainment of full capacity at, and an increase in exports from, the Dangote refinery will support real GDP growth and foreign exchange earnings in 2026 and 2027 and beyond, as a planned doubling of the plant’s output comes on stream around the end of the decade,” it added.
Industry analysts said the refinery is increasingly positioning Nigeria as an emerging refining and export hub, altering energy trade flows across Africa and reducing the vulnerability associated with fuel import dependence.
The EIU noted that the refinery’s expansion has coincided with major reforms in Nigeria’s downstream sector, including the removal of fuel subsidies and the introduction of market driven pricing mechanisms.
The report, however, said the transition from a state dominated fuel import structure to large scale domestic refining has triggered resistance from interests linked to the old import regime.
The latest tensions emerged following the decision by the Nigerian Midstream and Downstream Petroleum Regulatory Authority to relax restrictions on petrol imports despite the refinery’s growing capacity to meet domestic demand.
Dangote Industries subsequently initiated legal action, arguing that continued import approvals undermine domestic refining investments and conflict with the objectives of the Petroleum Industry Act, which seeks to encourage local refining capacity and reduce import dependence.
Analysts noted that the availability of large-scale domestic refining capacity has improved Nigeria’s energy security and reduced exposure to external supply shocks and foreign exchange volatility.
The Centre for the Promotion of Private Enterprise also cautioned against unrestrained importation of petroleum products, warning that such a policy could weaken Nigeria’s industrialisation drive and discourage investments in domestic refining.
Chief Executive Officer of CPPE, Muda Yusuf, said continued dependence on imported fuel had historically contributed to pressure on foreign reserves, exchange rate instability and fiscal leakages.
The refinery’s growing impact is also being reflected in Nigeria’s broader macroeconomic indicators. Earlier this month, S&P Global Ratings cited increased domestic refining capacity and rising hydrocarbon exports among the major factors supporting Nigeria’s sovereign credit rating upgrade – the first in 14 years.
Beyond Nigeria, analysts said the refinery is increasingly being viewed as a strategic industrial asset for Africa, where many countries remain heavily dependent on imported fuel despite rising demand for transportation, manufacturing, and power generation.
Business
BREAKING: Court Dismisses $19.6 Million Claim Against NNPCL — Rules Contract Scope Cannot Be Changed Orally
BREAKING: Court Dismisses $19.6 Million Claim Against NNPCL — Rules Contract Scope Cannot Be Changed Orally
In a landmark ruling on Friday, May 22, 2026, the Federal Capital Territory High Court in Abuja threw out a $19.6 million lawsuit filed by Alternate Dimensions Ventures Ltd against the Nigerian National Petroleum Company Limited (NNPCL), affirming a key legal principle: a written contract cannot be expanded through oral agreements or conduct.
Alternate Dimensions had sought $19,600,000 in professional fees, claiming the scope of its Direct Sale, Direct Purchase (DSDP e-pro) contract with NNPCL was orally expanded. Represented by counsel Patrick Peter, the firm argued it was entitled to the revised sum for services rendered under the alleged new terms.
But NNPCL, through its lawyer Ituah Imhanze of KENNA LP, pushed back sharply, arguing that parties are bound exclusively by the clear terms of their written agreement. Imhanze contended that without any written amendment, the claim was legally unsound, and the court agreed.
Delivering judgment, Justice Hamza Mu’azu upheld NNPCL’s defense, stating that the contract was unambiguous and that no evidence was adduced during the trial, which supported the alleged scope expansion. The court further found that NNPCL fully complied with all contractual terms and committed no breach.
Dismissing the suit as meritless, Justice Mu’azu reinforced the doctrine of sanctity of contract: any amendment to a written agreement must be express, unequivocal, and documented, not implied or verbal.
The ruling spares NNPCL from the S19.6 million claim and also a floodgate of similar potential liabilities.
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