FINANCING

Ocean and Oil Development Partners Limited (OODP), has said it will acquire the minority shares of Oando Plc for over N2.1bn. With the decision, Oando which is listed on the Nigerian Exchange Ltd and the Johannesburg Stock Exchange said it will delist and go private. In 2021 fourteen minority shareholders of Oando led by Venus Construction Company Limited asked the ...

As part of continuous efforts geared towards increasing the country’s competitiveness in the African Continental Free Trade Agreement (AfCFTA), the Standards Organisation of Nigeria (SON) has continued to upgrade and equip existing laboratories as well as procuring new ones.In furtherance of this, the SON recently acquired the multi million naira mobile laboratory which is one of the world’s most recent ...

Executive Director, Sahara Group, Wale Ajibade, Global Head, Afrexim Bank, Mr. Rene Awambeng, and Executive Secretary, African Refiners and Distributors Association (ARDA), Mr. Anibor Kragha at the ARDA Week 2023 in Cape Town, South Africa. Africa requires enabling energy policies, effective regulatory frameworks, investments, and collaboration to meet soaring energy needs across the continent, Wale Ajibade, Executive Director, Sahara Group ...

The AfCFTA Secretariat and African Export-Import Bank (Afreximbank), have signed the Host Country Agreement for the AfCFTA Adjustment Fund worth $10 billion with Rwanda. According to Afreximbank, the agreement, signed on March 10 in Kigali, paves the way for the operationalisation of the AfCFTA Adjustment Fund. The deal was signed by the Secretary-General, AfCFTA Secretariat, Wamkele Mene; Executive Vice President, ...

As the focus of oil producers globally shifts to deep water projects which are envisaged to attract over N200billion in new investment this year, Nigeria, one of Africa’s biggest oil producers, has positioned itself to benefit from this investment, Nigeria has big plans to diversify its oil operations by developing new projects outside the Niger Delta in the north of ...

Total Energies Marketing Plc has projected a revenue of N3,578bn for the second quarter of 2023. This was revealed in a notice issued on the website of the Nigerian Exchange Limited on Monday by its Executive Director, Mrs L. Baxter-Green, The oil marketing firm projected N84.855bn in revenue between April and June 2023 and a cost of sales of N70.689bn. ...

Access Bank PLC’s Managing Director, Roosevelt Ogbonna, has been appointed to the Presidential High-Level Advisory Council on Support to Women and Girls by His Excellency, President Muhammadu Buhari, the President of the Federal Republic of Nigeria. This appointment comes as a result of Access Bank PLC’s dedication to women’s empowerment through adequate financing and literacy promotion, as well as advocacy ...

Seplat Energy Plc has said the sale and purchase agreement to acquire the entire share capital belonging to Mobil Producing Unlimited, Nigeria for $1.28 million, plus up to $300 million contingent consideration, was still awaiting presidential approval.Its Chief Executive Officer, Roger Brown, made the announcement while commenting on its audited results for 2022, which recorded a rise in profit before ...

President Muhammadu Buhari was not working towards the truncation of democracy through the installation of an interim government,the presidency has said. The Senior Special Assistant to the President on Media and Publicity, Malam Garba Shehu, conveyed this in a statement titled “Stop the Joke about Interim Government, Elections Will Hold.” Governor Umar Ganduje of Kano State had alleged that the ...

KPMG Partner, Ayi Salami is making case for investments on the deep offshore blocks which Nigerian Upstream Petroleum Regulatory Commission (NUPRC), recently advertised. Salami, who is a Partner in charge of Energy and Natural Resources at the KPMG Professional Services, said those blocks should be attractive to foreign, local investors and businessmen because of their low tax obligation, in addition ...