FINANCING

…..by Ben Ndubuwa……First Bank Plc, one of the leading banks in Energy financing, in Nigeria has said that the bank is deepening its investment in Africa’s oil and gas sectors, with a strong footprint in six African nations as well as partnerships in the United Kingdom, France, and China. Currently, the bank is active in the Democratic Republic of Congo ...

Africa Capital Alliance’s (ACA) CAPE IV fund has divested 0.57% of its shareholding in Aradel Holdings, a sale valued at N19.8 billion. The transaction occurred over three days—October 14, 15, and 16—during which CAPE IV sold 24.717 million Aradel shares at an average price of N802.99 per share. Following this sale, ACA’s stake in Aradel dropped from 16.49% to 15.92%, ...

The Independent Petroleum Producers Group (IPPG) commended the leadership of Engr. Gbenga Komolafe, the Commission Chief Executive of Nigerian Upstream Petroleum Regulatory Commission (NUPRC), for tireless efforts and unwavering commitment to the growth and development of the oil industry. IPPG made this commendation during the third year anniversary celebration of NUPRC. According to the independent petroleum producers, the Commission has ...

Environment, Social and Governance (ESG) standards and regulatory frameworks in African countries significantly shape oil and gas investments in the continent, as they influence costs, compliance requirements, and project risk profiles. The Chief Financial Officer, Seplat Energy, Mrs. Eleanor Adaralegbe, said this during a panel session at the Africa Oil Week (AOW) Conference & Exhibitions in Cape Town, South Africa. ...

The National President, Independent Petroleum Marketers Association of Nigeria, Abubakar Garima, has stated that the Nigerian National Petroleum Company Limited owes petroleum marketers almost N15bn. Garima stated this on Thursday when he was featured on Channel TV’s Sunrise Daily. According to him, its members have yet to load a single truck since the NNPCL increased its pump price. Responding to ...

The Central Bank of Nigeria has emphasised its commitment to the stability of the country’s financial system, highlighting that regular stress tests are conducted to identify potential vulnerabilities in banks. This is according to a press release by CBN’s Acting Director of Corporate Communications, Mrs Hakama Sidi Ali, on Tuesday. “The CBN recognises the crucial role that confidence plays in ...

…Openness in governance, resource management and revenue collection are essential to restoring investors trust and confidence. Speaking during a special address at the Association of Energy Correspondents of Nigeria (NAEC), annual strategic international conference 2024 in Lagos, the Executive Secretary of Nigeria Extractive Industries Transparency Initiative (NEITI), Dr. Orji Ogbonnaya Orji pointed out clearly that accountability and transparency are key ...

Photo : Helen Lunda, Executive Director, Public Sector and Corporate Banking, Access Bank Zambia; Chizoma Okoli, Deputy Managing Director, Access Bank Plc; Vice President of Zambia, W.K. Mutala Nalumango; Lishala Situmbeko, Country Managing Director, Access Bank Zambia, and Abiodun Olubitan, Group Head, Women Banking, Access Bank Plc during the visit of Access Bank to the Vice President in Lusaka, Zambia… ...

Photo L-R: Abdulrazaq Kassim, Zonal Head, Commercial Banking Division, Access Bank Plc; Oge Kasie-Nwachukwu, Head, Strategic Communications, Events and Sponsorship, Access Bank Plc; Bolaji Agbede, Acting Group Chief Executive Officer, Access Holdings Plc; Professor Babagana Zulum, Executive Governor, Borno; Hadiza Ambursa, Executive Director, Access Bank Plc; Alexius Ayabam, Zonal Head, North East, Access Bank Plc and Uche Onyeigwe, Regional Director, ...

…..by Ben Ndubuwa…….. The Nigeria Extractive Industries Transparency Initiative (NEITI) has disclosed that outstanding collectible revenues from the oil and gas industry owed to the Federal Government have risen to over $6.071 billion and N66.4 billion as of June 2024. This revelation was made in the 2022/2023 Independent Oil and Gas Industry Report released by NEITI today. A detailed breakdown ...