FINANCING

Savannah Energy PLC, the British independent energy company has said that as it focuses on Key proojects in Africa the is delighted to announce an increase in its revenue by 26 percent for the year ended 31 December 2022. The results show that Savannah’s total revenues grew 26% to US$290.4m (from US$230.5m in 2021), ahead of previously issued guidance of ...

L – R : Independent Non – Executive Director, Lawal Idirisu ; Chief Operating Officer , Ramesh Virwani ; Managing Director,Adetunji Oyebanji ; Non – Executive Director / Alternate Chairman ,Alhaji Abdulkadir Aminu Mamman ; Company Secretary ,Chris Olumayowa Meseko and Non- Executive Director, Paul Chukwuma Obi ,all of 11Plc ( formerly Mobil Oil Nigeria plc ) during the company’s ...

Tunji Oyebanji …..… N18 billion PAT in 2022 as against N6.08 billion PAT in 2021….. ……..by Ben Ndubuwa…….The ingenuity and long standing industry experience by the Executive Directors of 11 Plc, (formerly Mobil Oil) led by Dr. Tunji Oyebanji have turned the massive investment by the company’ s new investors into huge profit making downstream company. The companies new operational ...

L-R : Executive Director ,Pascal Demarchi ; Company Secretary ,Alex Ugwuanyi; Non – Executive Director / Alternate Chairman,Paul Chukwuma Obi and Managing Director,Ravi Bachu ,all of Capital Hotels Plc during the company’s Annual General Meeting at Abuja Continental Hotel …….by Ben Ndubuwa……. Shareholders of Capital Hotels Plc have expressed their excitement over the positive performance and transformation by the new ...

The Nigerian Content Development and Management Board (NCDMB) has called for collaboration and aggressive investment in the oil and gas industry to stop the decline and return the sector’s contribution to aggregate Gross Domestic Product (GDP) to double digits levels. Simbi Wabote, Executive Secretary, NCDMB challenged the oil and gas industry regulators, investors and other critical stakeholders, in his remark ...

Investors in Nigerian capital market have expressed their dissatisfaction with the exit prices in the scheme of arrangement proposed by Titan Trust Bank Limited and Ocean and Oil Development Partners Limited (OODP) to acquire all shares of minority shareholders in Union Bank Plc and Oando Plc respectively. The shareholders stated that the considerations for minority shareholders are unacceptable and will ...

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on Thursday in Abuja expressed concerns over Nigeria’s N77 trillion public debt. Addressing the 7th triennial national delegates’ conference of the association, its president, Mr Festus Osifo, said the debt profile as at the first quarter of 2023 was mind-blowing. He noted that poor implementation of fiscal and monetary ...

The United Kingdom, UK, Prime Minister Rishi Sunak has declared the country will need fossil fuels for the “next few decades” thus calling for sustained investment in the sector for that period. This is also as the UK moves to eliminate net greenhouse gas emissions, after being urged to oppose Equinor ASA’s Rosebank oil field project in the North Sea. ...

L-R: Chioma Afe, Director External Affairs & Sustainability, Seplat Energy Plc; Chief Operating Officer, Sam Ezugworie; Vice-President, Finance, Eleanor Adaralegbe; Board Chairman, Basil Omiyi; Company Secretary/General Counsel, Edith Onwuchekwa; and New Energy Director, Effiong Okon, at the Seplat Energy 10th Annual General Meeting (Virtual) on Wednesday. …As Energy Company recommits to corporate governance, best practice Seplat Energy Plc, a leading ...

The International Monetary Fund has said Nigeria could lose an estimated $10bn of foreign direct investment and official development assistance inflows to geo-political tensions. The IMF in its country focus on Sub-Saharan Africa, released on Monday, said the figure is about a half per cent of the nation’s annual Gross Domestic Product. The Washington-based lender said, “The losses could be ...