Author: Mujeedat
Chairman of Nigerian Exchange Group (NGX Group), Alhaji Umaru Kwairanga, has urged African countries to strengthen collaboration among their capital markets, attract more listed companies and promote domestic investment to unlock the continent’s economic potential. Kwairanga said greater integration of African stock exchanges would expand investment opportunities, improve access to capital for businesses and enable the continent to mobilise resources for infrastructure, manufacturing, agriculture and technology development. He made the call at the Oxford Global Think Tank 2026 Conference in Abuja on Tuesday, November 3, where he spoke on the theme, “Leadership for a Prosperous Future.” The…
The Manufacturers Association of Nigeria (MAN) has unveiled an industrial energy cost reduction and adoption programme to help manufacturers access affordable, reliable and sustainable power solutions through structured financing. The initiative is part of broader measures by the association to improve productivity and competitiveness amid decades of high energy costs and erratic electricity supply from the country’s weak grid network. President of MAN, Ifeanyi Okoye, announced the programme on Tuesday at the 2026 Manufacturers Energy Security and Energy Efficiency Summit in Lagos. The event was organised by Manufacturers Power Development Company Ltd. (MPDCL), alongside GIZ and the…
Saudi Aramco has reported a 34.5 per cent increase in third-quarter net profit, supported by higher crude prices, stronger refining margins and proceeds from an asset sale, despite lower production and repeated attacks on Saudi Arabia’s energy infrastructure. The world’s largest oil exporter reported net income of $36.25 billion for the three months ended September 30, compared with $26.9 billion a year earlier. Adjusted net income increased by approximately nine per cent to $31.2 billion, exceeding analysts’ consensus estimate of $30.66 billion. The difference between reported and adjusted earnings partly reflects a gain from Aramco’s September sale…
Lagos State has retained its position as Nigeria’s best-performing state in the 2026 State of States fiscal performance ranking released by BudgIT. The 11th edition of the report, themed “From Allocation to Impact: Rethinking State Spending Priorities,” examined the 2025 fiscal performance of Nigerian states, assessing revenue mobilisation, expenditure efficiency, fiscal viability, debt sustainability and spending priorities across critical development sectors. The report assessed 35 states, excluding Rivers State because it has yet to publish audited financial statements and budget implementation reports following the declaration of a state of emergency in 2025. Lagos secured the top position…
The Isoko North Local Government Area Campaign Council of the All Progressives Congress (APC) has expressed readiness to receive Delta State Governor, Rt. Hon. Sheriff Oborevwori, at the grand flag-off of the party’s campaign activities ahead of the 2027 general elections. The highly anticipated event is scheduled for Thursday, November 5, 2026, at Ekwerigbe Primary School, Ozoro, with proceedings expected to commence at 12 noon. In a welcome announcement jointly signed by the Chairman of the Isoko North APC Campaign Council, Rt. Hon. Leo Ogor, and the LGA Campaign Coordinator, Hon. Oviemuno Oghoore, party leaders, stakeholders and supporters…
The Federal Operations Unit (FOU), Zone ‘A’ of the Nigeria Customs Service has intercepted 195 smuggling attempts involving prohibited and restricted goods valued at ₦6,194,695,947.05 in just four weeks of intensified enforcement operations. Acting Comptroller Oladapo Afeni disclosed this on Tuesday during his maiden press briefing since assuming office, held in Ikeja, Lagos. He said the seizures form part of a renewed strategy prioritising intelligence-driven enforcement, improved surveillance, risk-based examination, and closer collaboration with other agencies. “These seizures go beyond mere statistics, but represent revenue recovered for the Federation, local industries protected, and lives saved from dangerous and…
Warri North Local Government Area of Delta State is set to hold a 1,000-man solidarity walk in support of President Bola Ahmed Tinubu, Governor Sheriff Oborevwori and other All Progressives Congress (APC) candidates ahead of the 2027 general elections. The rally, scheduled for Wednesday, November 4, 2026, is expected to bring together political leaders, party faithful, supporters and other stakeholders in a show of solidarity and support for the APC. Participants are expected to converge at Koko Garage, the designated meeting point, by 2pm before commencing the solidarity walk. The convener, Dr. Oritsegbegbemi Maurice Ojoede, Executive Assistant…
TotalEnergies SE has signed agreements to acquire a 30 per cent operating stake in the SK410B Lang Lebah and B14 gas fields off the coast of Sarawak, Malaysia. The French oil and gas company said Lang Lebah, one of Malaysia’s largest offshore gas discoveries, and the nearby B14 field are planned to be developed as an integrated project. The combined development is expected to unlock more than 6.5 trillion cubic feet of gas resources, equivalent to more than one billion barrels of oil equivalent. The gas will supply the existing Malaysia LNG liquefaction plant, with a production…
The Renewable Energy Association of Nigeria (REAN) and the Africa Minigrid Developers Association (AMDA) have called on state electricity regulators to adopt naira-denominated licensing fees and more consistent regulatory requirements to encourage private investment in electricity projects across the country. The associations warned that inconsistencies in regulatory charges, particularly fees linked to the United States dollar, could discourage investors from developing mini-grid projects in rural and underserved communities. In a joint position paper titled “The Cost of Regulation: Nigeria State Electricity Market Fees,” the organisations said predictable and affordable regulatory charges are essential to expanding electricity access and…
The Invest in African Energy (IAE) 2027 programme has launched a Strategic Minerals Forum to advance investment in Africa’s mining and energy sectors, positioning mineral development within the same capital allocation discussions shaping the continent’s oil, gas and power projects. Africa holds about 30 per cent of the world’s critical mineral reserves, including cobalt, copper, graphite, lithium, manganese and platinum group metals. The mines producing these minerals are among the largest and most creditworthy electricity consumers on the continent, with their long-term demand anchoring new generation and cross-border transmission projects. The same minerals also supply the cables,…