The Nation Newspaper

Category: Business

  • PCNGI inaugurates 40 electric powered buses

    PCNGI inaugurates 40 electric powered buses

    The Presidential Compressed Natural Gas Initiative (PCNGI) yesterday commissioned 40 electric powered vehicles in Abuja in order to advance the country’s clean energy transition.

    The Minister of State for Gas, Ekperikpe Ekpo, who launched the buses said the rollout marks “another bold step in Nigeria’s journey towards cleaner, smarter and more sustainable mobility.”

    Ekpo, who was represented by his aide, Abel Igheghe, said the initiative reflects the government’s commitment to cleaner fuels such as compressed natural gas (CNG), liquefied petroleum gas (LPG), liquefied natural gas (LNG) and electric mobility.

    “This gathering is not just a product showcase; it is a statement of intent. We will continue to support initiatives that align with our clean energy aspirations.

    “Electric vehicles are an important part of the future, and they will create new industries, new jobs and new opportunities for Nigerian innovators.”

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    He said the Ministry of Petroleum Resources will sustain policies that promote alternative fuels, deepen gas utilisation and encourage technology transfer.

    “Nigeria’s clean mobility journey must be inclusive. It must deliver affordable transport options for ordinary citizens and strengthen our national emission-reduction targets,” he said.

    In his remarks, the Executive Chairman of PiCNG, Ismael Ahmed, said the initiative is focused on delivering affordable and reliable mobility for Nigerians.

    “This is clean energy. This is affordable energy. This is available energy. What matters is the ordinary Nigerian — the person in Kano, Zanya, or Daura whose transportation costs must come down,” he said.

    Ahmed said PiCNG will power charging stations with CNG to address concerns about electricity supply.

    “We have sunlight, we have gas, and we will use them to deliver cheaper and cleaner mobility,” he said.

    He added that the 40 newly unveiled electric buses demonstrate President Bola Tinubu’s commitment to providing affordable, reliable and cleaner transportation across the country.

    “This bus is not just for showcase. It will be deployed within the week, and Nigerians will begin to see it in several states offering cheaper transportation, especially during this festive season,” he said.

    PiCNG also reaffirmed its partnership with private investors to expand charging infrastructure nationwide, including plans for more stations along major transport corridors.

    Earlier at a press briefing in his office, the PiCNG chairman announced the launch of Pi-CNG 2.0, the next phase of Nigeria’s clean mobility transition.

    Ahmed said the Initiative, originally created to cushion the impact of fuel subsidy removal, has evolved into a catalyst for national energy transformation.

    “From the onset, the mandate was clear provide relief from rising transport costs, deepen gas utilisation, stimulate jobs and catalyse economic growth,” he said.

    He highlighted key achievements over the last 20 months, including activation of CNG value chains in 28 states, establishment of more than 58 refuelling stations, deployment of thousands of NGV buses and tricycles, onboarding of over 300 automotive conversion partners, training of more than 6,000 Nigerians — including 150 armed forces personnel and 220 women in Kano — and securing more than $2 billion in investment commitments.

    Other milestones include progress toward local manufacturing of CNG equipment at the Ajaokuta Industrial Park, strengthened gas-supply infrastructure across the northern corridor, partnership with the Niger Delta Development Commission (NDDC) to expand CNG stations in the Niger Delta, and activation of the national electric-mobility programme.

    Ahmed confirmed that the Kano State CNG launch will hold in the first quarter of 2026 with President Tinubu expected to attend.

    As Pi-CNG enters its 2.0 phase, he said the focus will remain on availability, affordability, and acceptability of clean-energy mobility solutions.

    “Our mission is unwavering: to build a resilient, multi-energy transport ecosystem that lowers transport costs and positions Nigeria as a continental leader in clean mobility,” he said.

  • NRS to enhance port efficiency

    NRS to enhance port efficiency

    The nation’s maritime sector is positioned for a major efficiency boost as the Federal Government prepares to launch the Nigeria Revenue Service (NRS) in January 2026, a unified platform that will consolidate federal revenue collection across key port agencies.

     The Sea Empowerment Research Centre (SEREC), in its latest policy bulletin, described the reform as a potentially transformative step for trade facilitation and fiscal integrity, provided that implementation is guided by transparency, competitive procurement, and strong oversight.

    SEREC noted that the NRS offers an unprecedented opportunity to streamline port charges, eliminate duplications, strengthen audit trails, and simplify compliance for terminal operators, shipping lines, freight forwarders and truckers. It added that a centralised system could enhance the country’s competitiveness by reducing transaction friction and improving predictability for international carriers calling at the ports.

    Head of Research at SEREC, Eugene Nweke, affirmed that the reform holds substantial promise. According to him, “centralising revenue collection through the NRS could transform Nigeria’s maritime competitiveness and fiscal integrity.”

    He explained that the consolidation of collection mandates previously split across Customs, the NPA, NIMASA, the Shippers’ Council, CRFFN and FIRS could create clearer financial visibility and reduce leakages that have historically weakened port performance.

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    However, SEREC emphasised that unlocking these benefits depends on government’s ability to address public trust concerns around centralisation.

    It observed that the rollout is taking place at a time when citizens are increasingly frustrated by governance gaps in infrastructure, security and service delivery. These long-standing concerns, it said, fuel scepticism about whether the reform will truly reflect improved value for port users and taxpayers.

    A major source of public anxiety, according to the position paper, is the potential involvement of private consultants in managing revenue-collection platforms. SEREC warned that without explicit accountability structures, outsourcing could create opportunities for opaque intermediaries, rent-seeking and proprietary systems that limit scrutiny. It stated that “the public fear that private consultants might be used as opaque intermediaries is legitimate and must be addressed proactively.”

    Even with these concerns, SEREC stressed that the risks are manageable, and that government can prevent negative outcomes through well-designed safeguards. It outlined how transparent contract publication, strict procurement standards, real-time remittance rules and open data frameworks can ensure that centralisation does not translate into unchecked power or revenue capture.

    The centre also identified areas where the maritime sector will require support during the transition. It observed that ongoing Central Bank cash-withdrawal and transaction limits have accelerated digitisation across logistics chains, but noted that many small operators at the ports still depend on cash for daily operations. The group cautioned that rapid migration to digital payments may create short-term liquidity pressure for truckers, freight handlers and SMEs unless government provides a structured, supportive onboarding process.

    Security considerations also featured prominently in the assessment. SEREC pointed out that certain emergency situations, particularly in high-risk transport corridors, may require carefully designed cash-access mechanisms to protect lives. It urged policymakers to embed security-sensitive exceptions within the NRS framework to prevent unintended harm while maintaining the integrity of anti-money-laundering controls.

    To harness the full advantages of the reform while maintaining stability, the maritime think-tank proposed a comprehensive suite of 13 safeguards. Key recommendations include the publication of all consultant contracts before signing; open competitive bidding for all revenue-related services; fixed-term contracts capped at 24 months; and prohibitions against private custody of public funds.

    The group also advised that all revenues be remitted instantly into government-controlled escrow accounts, with maritime levies ring-fenced for approved projects.

    In addition, SEREC called for open API systems, machine-readable receipts, quarterly independent audits, live public dashboards on revenue flows, and a multi-stakeholder oversight board that includes maritime operators, civil society and the Legislature. It recommended whistleblower channels for reporting suspicious activity and targeted support measures such as digital onboarding, subsidised transaction costs and liquidity support for SMEs.

    The bulletin further proposed a phased implementation to reduce disruption. The plan begins with publishing legal frameworks and procurement guardrails, followed by a controlled pilot within a selected port cluster. A mid-term independent evaluation would determine whether the system should be expanded to additional revenue lines, while nationwide rollout would be contingent on meeting specified audit, security and stakeholder-consultation benchmarks.

    Despite the cautionary notes, SEREC maintained that the NRS could dramatically reshape Nigeria’s maritime governance if executed with discipline and transparency.

    Nweke reinforced this view, stating that the positive impact will only materialise “if implementation is anchored in transparency, strict procurement and custody rules, credible oversight, AML/security integration, and targeted social protections.” Without these principles, he warned, “the NRS risks deepening the very governance problems it aims to solve.”

    In its conclusion, SEREC underscored that Nigeria’s maritime sector stands at a defining moment. With the right safeguards, the NRS could deliver clearer financial visibility, improved port efficiency, stronger anti-corruption outcomes and a more competitive environment for domestic and international maritime operators.

    The centre urged policymakers to seize the opportunity, implement reforms responsibly, and build the trust needed to ensure that centralisation strengthens, rather than destabilises, the nation’s maritime future.

  • Sahara Group Foundation’s SCIP ignites community development

    Sahara Group Foundation’s SCIP ignites community development

    The Sahara Group Foundation has launched the Sahara Community Impact Project (SCIP) to empower and transform communities through collective action and entrepreneurship.

    “Through SCIP, we are bringing resources, skills, and opportunities directly into the heart of each community, enabling entrepreneurs to scale, strengthening local value chains, and laying the foundation for truly sustainable, locally led economic growth,” said Chidilim Menakaya, Director, Sahara Group Foundation.

    Menakaya explained that the Foundation, through the SCIP hubs, will serve as engines for job creation, and long-term business sustainability, leveraging Sahara’s EXTRApreneurship model to empower individuals and reduce resource waste.

    Sahara Group Foundation is the social impact division of Sahara Group, a leading international energy and infrastructure conglomerate.

    “From agriculture, trade, craftsmanship, services, to emerging innovation, Sahara Group Foundation is looking to ultimately build specialised regional hubs with export potential by unlocking local talent and enterprise potential, “she said.

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    Head, Corporate Communications at Sahara Group, Bethel Obioma, said SCIP would pilot in Nigeria and ultimately become the template for replicating similar interventions to kick-start “community-led economic transformation across Africa.”

    “SCIP is more than a project; it is a commitment to building sustainable communities through capacity building, job creation, and strategic partnerships. By reducing resource waste and improving production efficiency, Sahara is laying the foundation for a future where communities can compete globally while preserving local identity.”

    SCIP will be open to receive applications from communities or entrepreneurs from January 2026 through Sahara Group Foundation’s official channels. After thorough reviews, selected participants will undergo training and mentorship to strengthen their business models. SCIP is guided by an in-built assessment procedure that ensures sustainability and measurable impact.

    The Community Business Hubs will provide shared processing and production facilities to reduce costs, improve product quality, offer training and capacity-building in entrepreneurship, financial literacy, branding and digital skills, and strengthen market access through collective visibility and structured value chains. The hubs will also enhance access to financing via partnerships with financial institutions.

    Urging media partners, community leaders, entrepreneurs, and the public to join in amplifying the transformative initiative, David Ayinde, Project Lead Sahara Group foundation, said the community referral call will go live in Q1 2026. “Through sustained media reports and collaborative participation and support from all stakeholders, we envision SCIP becoming a beacon of sustainable development, empowering communities to grow from within”.

  • PZ Cussons retains Africa business

    PZ Cussons retains Africa business

    Consumer goods business PZ Cussons, yesterday, announced that it is retaining its Africa business and has now set out ambitious growth plans to build a winning portfolio of locally-loved brands, building on the improved momentum achieved in recent years.

    The growth plans will be delivered through three key pillars: Core growth, Revenue Growth Management, and Category expansion.

    The first pillar will focus on growing the company’s core business in Nigeria, Kenya and Ghana through consistently delivering best-in-class fundamentals of brand-building, distribution expansion, Revenue Growth Management, in-store execution and use of digital.

    PZ Cussons said these factors, including the fact that the Nigerian business has, since FY22, more than doubled the number of stores which it serves directly, have been major contributors to the business’ growth in recent years.

    The other pillars are Category expansion: expansion into new category adjacencies, including a focus on Men’s Grooming and Beauty, with the existing brands of Venus, Imperial Leather and Premier; Pan-Africa growth: expansion in other African markets which will be served from the existing footprint in Nigeria and Kenya.

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    In April 2024, PZ Cussons announced plans to conduct a strategic review of its Africa operations. As part of the review, the Group announced the sale of its 50 per cent equity interest in PZ Wilmar Limited, its non-core edible oils business in Nigeria, to Wilmar International Limited, its Joint Venture partner for a total consideration of $70 million.

    The Group received significant levels of interest from a number of parties regarding the wider Africa portfolio.

    The Board has, however, concluded that the greatest value for shareholders will be created by retaining the business and building a Group portfolio balanced between its developed markets of United Kingdom and Australia/New Zealand and its emerging markets of Indonesia and Nigeria.

    The strategy is based on the significant long-term opportunity in Africa where population is forecast to grow by more than 900 million over the next 25 years, representing over half of total global population growth.

    Nigeria’s population alone is forecast to increase by over 100 million further benefitting from urbanisation and rapidly growing middle classes.

    “Recent economic and currency trends have been more favourable, supporting double-digit revenue growth in our Africa business in the first half of the financial year.

    “The Board is confident that PZ Cussons is well placed to succeed through leveraging local insights and its brand heritage.

    “The business will continue to benefit from its scale in manufacturing and route-to-market expertise, particularly against a competitive landscape which has seen a number of multi-nationals exit the market in recent years.

    “Nearly 80 per cent of Nigeria revenue is generated from brands holding #1 or #2 positions in their categories,” the Group said, in a statement which was made available to The Nation, on Thursday.

     Africa generated £141 million of revenue and £16 million of adjusted operating profit in FY25, representing 27 per cent and 30 per cent of the Group, respectively.

    Following the sale of its 50 per cent stake in PZ Wilmar, the Group’s Africa business comprises Family Care and Electricals businesses in Nigeria, and Family Care businesses in Ghana and Kenya. The Group holds a 73.3 per cent stake in PZ Cussons Nigeria plc.

    Headquartered in Manchester, UK., PZ Cussons is a listed consumer goods business that employs about 2,500 people, with operations in Europe, Africa, Asia-Pacific and North America.

    Since its founding in 1884, the company has been creating products to delight, care for and nourish consumers.

    Across its core categories of Hygiene, Baby and Beauty, PZ Cussons’ trusted and well-loved brands include Carex, Childs Farm, Cussons Baby, Imperial Leather, Morning Fresh, Original Source, Premier, Sanctuary Spa and St. Tropez.

  • Turkish Airlines, SAA sign codeshare agreement

    Turkish Airlines, SAA sign codeshare agreement

    Turkish Airlines, the national flag carrier of Türkiye, has signed a codeshare agreement with South African Airways, the national flag carrier of South Africa.

    The agreement, which will take effect on March 1, 2026, was signed in Geneva by Turkish Airlines Chairman of the Board/Executive Committee,  Prof. Ahmet Bolat and South African Airways CEO, Prof. John Lamola, with the participation of senior executives from both companies.

        Under this new agreement, Turkish Airlines will place its TK flight code on South African Airways flights operating across its key African gateways including Johannesburg, Cape Town, Durban, Port Elizabeth, Windhoek, Harare, Victoria Falls and Mauritius. On its part, South African Airways will place its SA flight code on selected Turkish Airlines operated flights between İstanbul and Johannesburg, Cape Town, Durban, Frankfurt, Paris and London.

        Commenting on the agreement, Bolat stated: “Our codeshare agreement with South African Airways is a meaningful step in further strengthening our presence in the African market and deepening the cooperation between Türkiye and South Africa. As the largest non-African airline operating in Africa, we attach great importance to sustainable partnerships that enhance connectivity and cultivate long-term value for our guests.”

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         Lamola said: “South African Airways welcomes this codeshare partnership as a strategic step in expanding safe, reliable, and competitive air services for our customers. Turkish Airlines is a respected global carrier, and this collaboration reflects our shared commitment to strengthening connectivity between Africa and Türkiye. Partnerships of this nature play an important role in supporting tourism, trade, and sustainable economic development.”

            Turkish Airlines continues to reinforce its position as the airline with the most extensive network in Africa, connecting its guests through 65 destinations across 41 countries in the continent.

        The new codeshare agreement with South African Airways will further enhance this connectivity, establishing expanded access across key destinations for Turkish Airlines’ guests in South Africa while offering South African Airways’ guests access to Turkish Airlines’ unparalleled network spanning 355 destinations across 131 countries.

  • PalmPay seeks deeper financial inclusion

    PalmPay seeks deeper financial inclusion

    PalmPay, Nigeria’s leading digital banking platform, has renewed its commitment to deepening financial inclusion across the country.

    At the CeBIH Annual Conference 2025, with “Reimagining Financial Inclusion through Cultural Shifts in Consumer Credit,” as theme, PalmPay’s Managing Director, Chika Nwosu, urged industry players to deepen financial inclusion by embracing community-aligned solutions and customer-centric innovations that can better serve Nigeria’s underserved and unbanked populations.

    Speaking during a panel session titled: “Social Inclusion, A Veritable Tool for Financial Inclusion,” Nwosu joined other industry leaders to share insights on strengthening participation among women, rural dwellers, low-income earners, and other financially excluded groups.

    He highlighted PalmPay’s commitment to inclusive finance through its 500,000-strong agent network, which enables seamless cash-in/cash-out services for unbanked users across Nigeria. He also emphasised the importance of PalmPay’s USSD platform, 861#, which allows users with basic phones or limited internet access to perform essential financial transactions.

    “Financial inclusion goes beyond access; it must be equitable and tailored to real-life needs,” Nwosu said.

    He shared how PalmPay leverages behavioural insights to design impactful services, including affordable health insurance, reliable bill payments, merchant solutions, and automated savings features that support financial discipline among users.

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    The session further examined the role of grassroots agents and community touchpoints in driving last-mile adoption. Nwosu noted that PalmPay’s widespread community presence continues to build trust and encourage excluded populations to embrace digital financial tools.

    The session was moderated by Ronke Kuye of the CeBIH Advisory Council and featured representatives from E-Doc Online, SmartCash Payment Service Bank, SANEF, and EFINA.

    PalmPay reaffirmed its commitment to driving accessible, secure, and inclusive financial services for all Nigerians. PalmPay is a leading digital banking platform driving financial inclusion and economic empowerment in underserved emerging markets. Through its secure, user-friendly, and inclusive suite of financial services, PalmPay empowers individuals and businesses with tools to manage and grow their money.

    PalmPay offers a comprehensive range of products, including mobile payments, savings, and micro-insurance via its app and mobile money agent network.

    Since launching in Nigeria in 2019 under a Mobile Money Operator license, the platform has grown to over 35 million app users. PalmPay has operations in Nigeria, Ghana, Tanzania, and Bangladesh.

  • FIRS rallies EFCC, FIU, FSU for stronger revenue buffer

    FIRS rallies EFCC, FIU, FSU for stronger revenue buffer

    Nigeria’s tax administration architecture is set for a major transformation as the Federal Inland Revenue Service (FIRS) intensifies high-level engagement with the country’s foremost security and intelligence agencies.

    With the National Revenue Service (NRS) Act scheduled to take full effect on January 1, 2026, the agency is pushing for deeper inter-agency cooperation to safeguard national revenue assets, dismantle tax evasion networks, and secure the country’s financial future.

    At a strategic stakeholder meeting held in Lagos, the Head of the FIRS Special Enforcement Division, CSP Kyes Bakfur, said Nigeria has reached a defining moment where revenue protection must evolve into a coordinated national mission.

    “Effective revenue protection depends on shared intelligence, joint field operations and strong operational synergy. No single institution can successfully tackle the sophistication of modern tax evasion,” he said.

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    Bakfur highlighted the division’s contributions to protecting revenue infrastructure and executing critical enforcement operations across the country. He revealed that its activities had significantly supported the service’s revenue drive in 2024, adding that the transition to the NRS model requires even more robust collaboration with institutions such as the Economic and Financial Crimes Commission (EFCC), the Financial Intelligence Unit (FIU) and the Financial Surveillance Unit (FSU).

    He described the Lagos engagement as a platform to deepen mutual trust, eliminate operational silos, and align enforcement strategies. “Our expectation is a more symbiotic relationship—one that strengthens national tax enforcement and ensures that every kobo due to government is secured,” he said.

    Responding to concerns over inadequate logistics for enforcement activities, Bakfur said the FIRS leadership was already closing critical gaps. “The Executive Chairman has taken decisive steps to address those challenges,” he assured.

    FIRS consultant, Oladipo Olayemi, who delivered a paper on inter-agency collaboration, emphasised that the session was not designed to expose internal weaknesses but to build a collective roadmap for a more secure and revenue-efficient Nigeria.

    “More revenue means more funding for security agencies. If we generate more, government can invest more in the tools and manpower needed to make Nigeria safer,” he said.

    Olayemi said persistent insecurity—ranging from smuggling and illegal mining to oil theft, cyber-enabled fraud and illicit financial flows—continues to drain the country’s revenue. He stressed that intelligence sharing and joint taskforces remain critical in uncovering tax evasion schemes that might otherwise go undetected.

    “It takes a secure environment for revenue authorities to operate optimally. We must see ourselves as collaborators, not competitors,” he added.

    Another FIRS consultant, Oladipupo Arowoshebi, reinforced the connection between national security and sustainable revenue generation. “When security becomes a national challenge, adequate funding becomes essential. That funding comes from revenue,” he said.

    The Independent Corrupt Practices and Other Related Offences Commission (ICPC), represented by Chief Superintendent Ade Adams Oluwaseyi, reminded participants that corruption remains a major obstacle to tax compliance. She noted the ICPC’s role in prosecuting bribery, falsification of records and other malpractices that undermine tax administration.

    She added that monitoring political office holders for tax compliance is critical to curbing high-level tax-related offences.

    The meeting also spotlighted the Special Enforcement Division’s partnership with a police unit established by the Inspector-General of Police to support FIRS operations—an alliance described as instrumental to improving investigative reach and operational efficiency.

    By the end of the engagement, all agencies reaffirmed a commitment to a unified national strategy for revenue protection. The collective message was unmistakable: sustained cooperation and intelligence sharing are indispensable to securing Nigeria’s tax system, strengthening national security, and preserving the country’s long-term fiscal stability.

  • TNP: NNPCL targets 2.06mbpd

    TNP: NNPCL targets 2.06mbpd

    The Nigeria National Petroleum Corporation Limited (NNPCL) has set its targeted crude oil production for 2026 at over two million barrels per day.

    The Head, Field Operations, Eastern Corridor Project Monitoring Office (PMO NNPCL), Akponime Omojevwhe, made this known at the monthly stakeholders meeting with host communities of the Trans Niger Pipeline (TNP) organised by Pipeline Infrastructure Nigeria Limited (PINL) in Port Harcourt, the Rivers State capital, yesterday.

    Omojevwhe noted that Trans Niger Pipeline(TNP), is currently running without interruption, reason it is on green, tracing it to cordial, smooth collaboration between Pipeline Infrastructure Nigeria Limited (PINL), and host communities, urging them to sustain the cooperation.

    He said, “I want to sincerely appreciate all our stakeholders on this corridor because right now we can see that the TNP  is green and what that means is that the products are flowing uninterrupted.

    “Secondly, I want to say that our budget for 2026 is targeted at 2.80mbpd and the budget  begins from 1.84mbpd while our targeted projection is 2.06mbpd. So we want to say that even as  we draw closer to next year 2026, as we have come together to ensure that the projection is going up, we want to crave your indulgence, please don’t relent”.

    Highlighting the importance of stakeholders and communities in securing the pipelines, the NNPCL official noted that no private security company can achieve success without their collaboration.

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    “The communities are vital part of this job. So anytime we find ourselves, we must always appreciate them because the community leaders such as the chiefs, CDCs, youth presidents, women leaders, if they don’t carryout our messages to the community people, there will be nothing like green as far as the pipeline is concerned. So our message is clear, we appreciate you and always assist PINL efforts just as you have been doing, “ he pleaded.

    In his remark, the Minister of State (Oil), Heineken Lokpobiri at the meeting appreciated the collaboration between the communities and PINL, stressing its impact on oil production output in the country.

    Lokpobiri who was represented a Staff of the Ministry, Julius Edi, said,

    “Sincerely the minister of petroleum resources appreciates what the communities are doing because without the peace from your domain, I believe production will not be up.

    “Today, all of us can testify to the production level and it’s so ambitious for 2026 that we are going to hit the target of 2 million plus barrels per day production. Those things which will bring more money to the government and also, more money to PINL to be able to reach out to you, “ he stated.

    In his opening speech earlier, the General Manager, Community and Stakeholders Relations, PINL Dr. Akpos Mezeh noted that the meeting the monthly stakeholders meeting serves as a time to take stock,  review the progress it has made in the fight against pipeline vandalism and crude oil theft.

    “It also serves as a time to celebrate, fellowship, and appreciate critical stakeholders, especially leaders of  host communities for their support and commitment, which he said have sustained the economic stability of the country.

    He highlighted the Firm’s achievements in the outgoing year to include deepening of  security operations to include all oil and gas infrastructures in proximity to the TNP, expanded community and stakeholders’ inclusion, human empowerment with focus on women and students and strengthened grassroots communication with introduction the Town Crier Initiative (TCI).

    He also listed sustained consistent stakeholder engagements, zero illegal bunkering and building of greater trust between PINL and host communities as other successes.

    Mezeh called for increased collaboration with the host communities even as they look ahead to 2026.

    “Let us continue to protect national assets, empower our people, and strengthen the prosperity of our region and nation. As we step into 2026, may our collaboration deepen, our unity strengthened, and our shared commitment to peace and progress remain unshakable, “ he appealed.

    The PINL official also used the medium to announce Christmas palliatives for the 215 TNP host communities.

    Meanwhile, one of the host community leader, His Majesty, King Philip Osaro Obele, called on the Federal Government to carry out more developments in the communities now that they are benefitting by way of increased revenue output from oil production.

    He also commended PINL for regularly meeting with them to update the communities on its operations.

    The meeting was attended by stakeholders, traditional Rulers of communities across the four states of Rivers, Imo, Abia and Bayelsa that play host to Trans Niger Pipelines.

  • Fed Govt launches online platform for gas trading, exchange

    Fed Govt launches online platform for gas trading, exchange

    The Federal Government has launched the an online platform for gas trading and exchange also known as the Gas Trading Licence, Clearing House and Settlement Authorisation.

    Speaking at the ceremony in Abuja, the Minister of State for Petroleum Resources (Gas) Ekperikpe Ekpo said it is a new dawn with which the gas industry will emerge with a transparent, competitive, and investment-ready market.

    His words: “I am pleased to join you today on this occasion of the launch of the first Gas Trading Licence and Clearing House & Settlement Authorization.

    “This milestone event signifies the dawn of a new era where our gas industry will emerge with a transparent, competitive, and investment-ready market.”

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    He commended the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) leadership headed the Authority Chief Executive, Farouk A. Ahmed, and also to JEX Markets Limited for their innovative partnership efforts in developing the online platform.

    According to him, the efforts will pave the way for smooth natural gas business, transparent pricing, efficient price determination, and secure payment mechanisms— hallmarks that align seamlessly with our national energy policies and global best practices.

    He said the  launch is completely consistent with the Renewed Hope Agenda of President Bola Ahmed Tinubu, who stated that natural gas will play the central role in the energy security, industrialization, and economic diversification.

    He said Nigeria is richly endowed with natural gas reserves, among the biggest in the world, but if the underlying market where the gas will flow is not efficient, reliable, and well-regulated, it will not be possible for stakeholders to realize the ultimate potential of the resource.

    Ekpo stressed that the Gas Trading Licence introduced is paving the way for a new, regulated market where reliable traders will feel safe doing business, where businesses can plan, and where investors can invest, knowing that it will safeguard both their capital and the public interest.

    He said in line with the provisions of the Petroleum Industry Act, the Authority is mandated to regulate and monitor midstream and downstream operations; protect customers; set fair and transparent cost benchmarks; and ensure strict adherence to licence conditions.

    The minister insisted that the Gas Trading Licence is, therefore, the implementation of the provisions of the licensing requirement that make the investment possible. It provides the governance framework essential for a modern gas industry.

    Ekpo said the licence itself is founded upon sound regulations and guidelines governing technical competence, commercial capability, financial soundness, and responsible operations. Among the responsibilities of the licence holders is the adherence to the various rules on gas measurement, tariffs, pricing, and assignments.

    Meanwhile, the NMDPRA Chief Executive Officer, Engr Farouk Ahmed said the formal presentation of the market enabling Licence is a culmination of an effective collaboration with the Industry.

    He said it also reaffirms the commitment of the Authority to the actualization  of one of the core objectives of the PIA, which is the growth of the domestic gas sector into a dynamic and competitive trading and supply hub.

    Ahmed said as the regulator of Nigeria’s midstream and downstream petroleum sector, the Authority recognizes that the true test of licensing JEX Markets is not in the ceremony of today, but in the transformation it must deliver tomorrow.

    He vowed that NMDPRA provide a firm, transparent and technology -enabled regulatory platform to make JEX succeed.

    “To ensure that JEX succeeds as Nigeria’s pioneering gas trading, clearing and settlement platform, we will provide a firm, transparent and technology‑enabled regulatory framework under the PIA, giving investors the certainty and confidence required to commit long‑term capital to the gas value chain,” he said.

    He pledged that the Authority will continue to work closely with sister regulators, including the Securities and Exchange Commission (SEC) and key financial‑market institutions, harmonize market rules, standardize transaction contracts, and ensure that clearing and settlement arrangements meet the highest global standards.

    Continuing, he said, “We will actively deploy our licensing and regulatory instruments to drive participation in gas trading by producers, transporters, aggregators and large‑scale buyers, ensuring that liquidity is built and that transparent price discovery becomes the foundation of Nigeria’s domestic gas market.

     “In addition, we are committed to sustained capacity building, data transparency and industry education, so that Nigerian companies  are empowered to compete effectively and confidently in this new  gas economy.

    “Above all, we will position JEX as a strategic national platform within  our Decade of Gas agenda to enable regional integration and cross‑border trade and firmly establish Nigeria not only as a leading gas producer, but as Africa’s reference market for gas trading and pricing.”

  • BOI, NCGC to unlock N10b loans for women entrepreneurs

    BOI, NCGC to unlock N10b loans for women entrepreneurs

    The Bank of Industry (BOI), in partnership with the National Credit Guarantee Company (NCGC), has signed a memorandum of Understanding (MoU) to unlock N10billion in guaranteed loans for women entrepreneurs, as women economic participation gains major momentum.

    The Managing Director, BoI, Dr. Olasupo Olusi, who initiated the gender-inclusive financing, has continued to shape national Micro Small and Medium Enterprises MSMEs development policy, noting that the idea is to create a credit-guarantee framework that will make financing more accessible and affordable for thousands of women-owned businesses nationwide.

    Olusi started this during the signing of the MoU with the Managing Director of NCGC, Mr Bonaventure Okhaimo in Abuja, saying that under the arrangement, NCGC will provide a 25 per cent credit guarantee cover on BoI loans, significantly reducing lender risk and enabling BOI to fund more women-led enterprises.

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    He said: “The initiative targets high-impact sectors including manufacturing, processing, ICT, digital marketing, e-commerce, the creative and entertainment industries, healthcare, education, renewable energy, and waste management.  The GLOW (Guaranteed Loans for Women) programme is a national intervention to remove long-standing barriers that prevent women from scaling their businesses.

    “This event represents more than a procedural milestone, it signals our collective commitment to expanding access to finance for the Nigerian entrepreneurs who power our economy, particularly women and MSMEs, GLOW was crafted to deliver affordable, flexible, and well-structured financing to women, which is designed by BOI from the ground up to close systemic gender-financing gaps.

    “With a N10billion fund, concessionary pricing at seven percent, flexible collateral arrangements, and embedded capacity building, GLOW reflects our intentional drive to close gender-financing gaps and stimulate inclusive growth, one of the clearest signs of its necessity is the overwhelming market response.

    ‘‘We have recorded over 33,000 applications in progress, with an estimated value exceeding ₦65bn”.

    Speaking, MD NCGC Bonaventure Okhaimo has assured that the organisation will start with a ₦5bn, as this will help and also support in managing portfolio risk, and reach women and MSMEs who are viable but previously underserved due to collateral constraints, this will allow women-owned businesses to access loans at lower interest rates and with faster approval timelines.

    BOI, NCGC to unlock N10bn guarantee loans for women entrepreneurs