FINANCING

….by Ben Ndubuwa…. Oando Plc has announced a remarkable increase in its crude oil production by nearly 50% in the past three months, following the acquisition of Nigerian Agip Oil Company (NAOC) from Italian energy giant Eni earlier this year. The announcement was made during a high-level meeting between Oando and its Joint Venture partner, the Nigerian National Petroleum Corporation ...

Chevron Corporation revealed Thursday that it plans to allocate between $14.5 billion and $15.5 billion for capital expenditures (capex) in 2025, marking a $2 billion year-over-year reduction. In addition, the company outlined an affiliate capital expenditure range of $1.7 billion to $2.0 billion for the same year. These moves are part of Chevron’s ongoing efforts to maintain cost and capital ...

Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter, today provided a comprehensive update on its operating performance and outlook, while also outlining its FY25 plans for the existing portfolio in Nigeria and Niger.The update shows that its gross production in Nigeria has averaged 22.7kboe/d (88% gas; flat YoY), generating Total Income of ...

Further to our July 14, 2023 announcement regarding the above subject, Access Holdings PLC (‘Access Holdings’ or ‘the Company’) is pleased to announce that its flagship subsidiary, Access Bank PLC (‘Access Bank’ or ‘the Bank’) has completed the acquisition of Standard Chartered Bank Angola S.A and Standard Chartered Bank (Sierra Leone] Limited (‘the Acquisitions’). Commenting on the completion milestone, Roosevelt ...

NOVA Bank has achieved a major milestone in its commitment to safeguarding customer data and digital operations by attaining the globally recognized ISO 27032 Cybersecurity Standard certification This significant achievement positions NOVA Bank among the elite financial institutions in Nigeria with such a distinction.  The ISO 27032 certification focuses on fortifying cybersecurity measures, ensuring robust protection for data, systems, and ...

KfW (KFW.UL) will provide a 24 billion euro ($25 billion) loan to help develop a future hydrogen network in Germany, the state lender told Reuters, at a time when companies have warned that the technology will take longer than expected to take off. According to Reuters report, KfW will provide a 24 billion euro ($25 billion) loan to help develop ...

The Nigerian National Petroleum Company Limited (NNPCL) has requested an additional N1.19 trillion in subsidy refunds for July 2024, citing exchange rate differentials in Premium Motor Spirit (PMS) importation and joint venture taxes. This request has triggered criticism from state governments and stakeholders, who question the transparency of NNPCL’s accounting practices. The request was detailed in the Federation Account Allocation ...

Our attention has been drawn to a video on social media wherein allegations of missing funds and unethical behaviour have been made against Access Bank PLC. First and foremost, we wish to emphasise that the safety and security of our customers’ funds are core priorities which we take seriously. Second, Access Bank Plc does not engage in or condone any ...

…….by Ben Ndubuwa…. The Federal Executive Council (FEC) has approved a proposed national budget of N47.9 trillion for the fiscal year 2025. This approval came after a meeting chaired by President Bola Tinubu on Thursday, with Atiku Bagudu, Minister of Budget and Economic Planning, briefing journalists about the decision. The proposal is part of the Medium-Term Expenditure Framework (MTEF) for ...

Access Bank PLChas hosted the French Week 2024 Business Forum at its headquarters in Lagos, affirming its commitment to bolstering trade relations between Nigeria and France. The event, which kick-started the annual French Week celebration, highlighted Access Bank’s dedication to fostering bilateral business collaborations and creating a platform for growth, trust, and innovation in the France-Nigeria economic space. The Business ...