By Ayomide Otitoju The Nigerian National Petroleum Company Limited (NNPCL) has raised concerns over inadequate funding for domestic gas projects, attributing the shortfall to a reliance on international oil companies (IOCs) that prioritize export over local gas development. This was disclosed by NNPCL’s Group Chief Executive Officer, Mele Kyari, at the 40th Abu Dhabi International…
By Ayomide Otitoju MTN Nigeria, the country’s largest telecommunications provider, has completed the acquisition of the remaining 7.17% minority interest in MoMo Payment Service Bank (PSB) for N6.95 billion, further solidifying its position in Nigeria’s financial services sector. The transaction was detailed in MTN Nigeria’s unaudited financial results for the nine months ending September 30,…
By Ayomide Otitoju Africa’s Global Bank, United Bank for Africa (UBA) Plc, has renewed its commitment to bolstering the growth of Small and Medium-scale Enterprises (SMEs) across Nigeria and the continent. Speaking at the 38th Lagos International Trade Fair, UBA pledged increased investment in advanced technology and specialized training aimed at empowering SMEs to contribute…
By Ayomide Otitoju RMB Nigeria Issuance SPV PLC, a funding vehicle established to support RMB Nigeria’s financing initiatives in the public debt capital markets, has successfully registered its ₦40 billion Multi-Instrument Issuance Programme. This Programme aims to enhance RMB Nigeria’s asset growth and liability management by facilitating the issuance of debt instruments and structured notes….
By Ayomide Otitoju Ecobank Nigeria has been awarded “Best Web Portal” in Nigeria at the prestigious Phillips Consulting Digital Jurist Awards, outperforming 22 other commercial banks. This award underscores Ecobank’s leadership in digital banking and its dedication to delivering customer-centric, innovative solutions. The Digital Jurist Awards, organized by digital specialists at Phillips Consulting, evaluates the…
By Ayomide Otitoju MTN Nigeria Communications Plc has announced plans to issue up to N50 billion in Series 11 and 12 commercial paper notes as part of its N250 billion commercial paper program. The company disclosed this in a corporate notice filed with the Nigerian Exchange Limited on Monday, signed by Company Secretary Uto Ukpanah….
By Ayomide Otitoju Access Holdings Plc has posted impressive growth in gross earnings, reporting N3.4 trillion for the first nine months of 2024. This marks a 114.5% increase from N1.6 trillion in the same period last year, as detailed in the company’s third-quarter filing with the Nigerian Exchange Limited. The rise was primarily fueled by…
By Ayomide Otitoju Nigeria’s push to develop its domestic gas projects is being hindered by inadequate funding, according to Oritsemeyiwa Eyesan, Executive Vice President, Upstream, at Nigerian National Petroleum Company Limited (NNPCL). Speaking at the 40th Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), Eyesan highlighted the challenges, even with Nigeria’s vast natural gas reserves…
Woodhall Capital has signed a $25 million loan facility with the African Export-Import Bank (Afreximbank) to strengthen support for Nigerian Small and Medium Enterprises (SMEs) aiming to enter export markets. This landmark signing occurred during Afreximbank’s inaugural SME Development Workshop and Stakeholder Engagement Programme, held recently in Lagos under the theme, “Nurturing African SMEs: Bridging…
