FINANCING

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 ...

The Securities and Exchange Commission has expressed its readiness to partner with the Nigerian Agricultural Insurance Corporation in a bid to further deepen the commodities trading ecosystem. Director General of the SEC, Mr. Lamido Yuguda,who stated this during a meeting with the Management of NAIC in Abuja,weekend,expressed SEC’s commitment to develop the commodities ecosystem as a potent way forward in ...

The Federal Government has received about $5.28billion as dividends from the Nigeria Liquefied Natural Gas Limited under the regime of the President, Major General Muhammadu Buhari (retd.).The latest data contained in the Facts and Figures 2022 report of the NLNG, obtained in Abuja on Sunday, showed that aside from dividend payments to the Federal Government, the gas company also remitted ...

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it will sanction fuel stations that reject the use of Point of Sale (POS) machines or bank transfers at their outlets.This is contained in a statement by Mr Kimchi Apollo, General Manager, Corporate Communications and Stakeholders Management, NMDPRA, on Thursday in Abuja.The statement frowned at the act by the retail ...

The management of Techno Oil Ltd. has directed its outlets nationwide to make fuel sales to motorists round the clock, to mitigate the hardships facing Nigerians currently. The Chief Executive Officer of the company, Mr Tony Onyeama, made the announcement on Monday in Lagos while speaking on the efforts of the company to end the current crippling fuel scarcity. Nigerians ...