FINANCING

Seplat Energy Plc, a leading Nigerian energy company listed on the Nigerian Exchange and the London Stock Exchange, is pleased to announce that it has begun commercial injection of crude oil through the new Amukpe-Escravos Pipeline. The 67km mostly underground pipeline is expected to provide a more reliable and secure export route for liquids from Seplat Energy’s major assets OML ...

By CHIAMAKA NDUBUWA…. The Lekki Deep Sea Port is expected to generate an estimated $562b revenue to federal government coffers in 45 years, The Nation has learnt. Giving this hint at the weekend were top management staff of the company during the Private Public Partnership Consultative Forum held at its corporate headquarters at the Lagos Free Trade Zone, Lekki-Expressway. Speaking ...

The Nigerian National Petroleum Company Ltd, remitted  $2.7 billion into its accounts with the Central Bank of Nigeria (CBN) between January and June this year, a document made available to The Nation at the weekend has revealed. This disclosure counters CBN’s claim on Thursday that “zero-dollar remittance to the country’s foreign reserve by the NNPC,” precipitated the forex crisis in ...

Nigeria’s total foreign debt as at March, this year stood at $40 billion, increasing from $38.4 billion last December; domestic debt also rose from N23.7 trillion to N25 trillion within the same period. Such levels of debt, the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) said, had become unsustainable. NACCIMA National President Ide John C. Udeagbala, ...

******Maintains strong balance sheet with $350m cash at bank Seplat Energy Plc, a leading Nigerian independent energy company listed on both the Nigerian Exchange and the London Stock Exchange, has reported a rise of 238% in its half year 2022 profit before tax (PBT) to $209.9m from $62.1m year-on-year. The company also maintained a strong balance sheet with $350m cash ...

The Ministry of Petroleum Resources has inaugurated a committee on the Establishment of an Oil and Gas Investment Promotion Office to spur investment in the sector. Mr Kamoru Busari, Director overseeing the Office of the Permanent Secretary said that having an Investment Promotion office in the ministry was a strategic milestone to attract investors in Nigeria’s oil and gas sector. ...

… declares US$ 2.5 cents dividend per share……… Seplat Energy Plc, a leading Nigerian independent energy company listed on both the Nigerian Exchange and the London Stock Exchange, has reported a rise of 238% in its half year 2022 profit before tax (PBT) to $209.9m from $62.1m year-on-year. The company also maintained a strong balance sheet with $350m cash at ...

Ecobank TransNational Incorporated (ETI) has attributed the 24 per cent increase in Profit Before Tax (PBT) in its half-year (H1) operations to the bank’s diversification exercise and massive investment in technology within the period. The bank achieved a 24 per cent rise in PBT to $261 million, in addition to a return on tangible equity of 19.5 per cent. Reviewing ...

Stakeholders have called for improved export to boost the country’s economic performance. The stakeholders who attended a one-day sensitization programme organized by the Ministry of Transportation and the Nigerian Shippers Council (NSC) in Lagos, said increasing Nigeria’s export trade will help in bailing the economy out of the current crisis. The Chairperson of the Nigerian Ship Owners’ Forum, Magreth Orakwusi, ...

Amid a projection by the Federal Government to spend a whopping sum of N6.7tn on fuel subsidy next year and a major shortfall in government oil revenue this year, economic and energy experts have predicted tougher days ahead for the economy, states and Nigerians. The Minister of Finance, Zainab Ahmed, had on Thursday released the four-month fiscal report of the ...