By Ayomide Otitoju The NNPC Limited has announced the successful completion of the River Niger crossing on the 130-kilometre Obiafu-Obrikom-Oben (OB3) Gas Pipeline, marking a significant advancement in Nigeria’s gas infrastructure expansion.The project, executed by the NNPC Gas Infrastructure Company (NGIC), a subsidiary of NNPC Limited, unlocks the full capacity of the OB3 pipeline, which…
By Ayomide Otitoju The average cost of preparing a pot of jollof rice in Nigeria rose to ₦30,435 in March 2026, driven by surging fuel prices linked to global oil market disruptions following the Iran-related conflict, according to a new report by SBM Intelligence.The report, titled Jollof Index Q1 2026, showed that the cost of…
By Ayomide Otitoju Nigerian National Petroleum Company Limited has increased the official selling prices of all 37 Nigerian crude grades for May-loading cargoes, amid rising global oil prices driven by escalating tensions in the Middle East, particularly the conflict involving Iran, the United States, and Israel. According to industry reports, the national oil company raised…
By Ayomide Otitoju Guaranty Trust Holding Company Plc has reported a marginal 0.88 per cent year-on-year increase in profit before tax to N302.89 billion for the first quarter ended March 31, 2026, compared to N300 billion recorded in the corresponding period of 2025.However, profit after tax declined by 15.42 per cent to N218.13 billion, largely…
By Ayomide Ottoju MTN Nigeria Communications Plc has announced plans to divest its ownership in Y’ello Digital Financial Services and sell a 60 per cent stake in MoMo Payment Service Bank to MTN Group in a transaction valued at N152.06 billion. The proposed deal, disclosed in a shareholders’ FAQ ahead of the company’s Annual General…
By Ayomide Otitoju The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has pegged the retail price of Aviation Turbine Kerosene (ATK) in Nigeria at between ₦1,960 and ₦2,800 per litre amid rising fuel costs affecting airline operations. In a statement, NMDPRA Director of Public Affairs George Ene-Ita said the prices were based on nationwide…
By Ayomide Otitoju Nigeria’s crude oil production has risen to its highest level in five years, reaching 1.71 million barrels per day between April 2025 and April 2026, according to the Nigerian National Petroleum Company Limited (NNPC). The figures were contained in the NNPC One-Year Mandate Report Summary shared on X by Group Chief Executive…
By Ayomide Otitoju The Niger Delta Power Holding Company Limited (NDPHC) and the Nigerian Content Development and Monitoring Board (NCDMB) are planning to supply 10 megawatts of electricity to the Nigerian Oil and Gas Park in Odukpani, Cross River State. In a statement signed by NDPHC’s Head of Corporate Communications and External Relations, Emmanuel Ojor,…
By Ayomide Otitoju Zenith Bank Plc has announced the launch of a new subsidiary in Côte d’Ivoire, marking a key milestone in its Pan-African expansion strategy. The official opening ceremony is scheduled for April 29, 2026, and is expected to attract senior government officials, regulators, and business leaders from across Africa, underscoring growing economic ties…
