Author: Ogochukwu Ndubuisi

Moniepoint Women in Tech initiative Turns 5, Expands Access for 15 Interns As the world marks International Women’s Day (IWD), Moniepoint Inc, leading digital financial services provider and Africa’s fastest growing financial institution, has announced the expansion of its “Women in Tech” program. This year, the program will increase its offerings from 10 to 15 internship roles, furthering its commitment to bridging the gender gap in the technology sector. This announcement aligns with the 2025 IWD theme, “Accelerate Action,” which calls for urgent action to close the gender gap and promote equality across industries. The program is a vital part…

FG Denies Diverting $3bn Railway Project The Federal Ministry of Transportation (FMT) has described as false a report claiming that Sen. Said Alkali, the Minister of Transport, diverted three billion dollars railway project from South-East to his home state, Gombe for political gain. The ministry urged Nigerians to disregard the publication, describing it as false, malicious and misleading to the public, and should be discarded. This is contained in a statement issued by the management of the ministry and signed by Mrs Janet McDickson, Director of Information and Public Relation in the ministry. “Attention of Management and Staff of FMT…

Seplat Energy Seeks to Raise $650m for Debt Refinancing Seplat Energy Plc has launched an offering of USD$650 million in senior notes due in 2030 at $1000 per note, according to its regulatory filing issued on the Nigerian and London Stock Exchange on Tuesday. The energy company said the net proceeds of the offering will be used to repurchase its outstanding 7.750% senior notes due in 2026. Seplat also plans to pay transaction fees and expenses from the proceeds, according to its filing. “There can be no assurance that the transactions will be completed,” Seplat Energy said.  Seplat also announced…

Oando Plc. Wins Trinidad and Tobago Refinery Bid –Official Oando Plc has been named the preferred bidder for the lease of the Guaracara Refining Company Limited’s (GRC)’s refinery assets from Trinidad Petroleum Holdings Ltd. (TPHL). The indigenous energy group said in a statement, announcing its successful bid on Tuesday.  “This award underscores Oando’s track record of reliability, innovation, and infrastructure development and aligns with its Corporate strategic vision of expanding across the Caribbean region,” Oando said in an official statement. It said the partnership also represents a strategic bridge between Africa and the Caribbean, as Oando’s involvement in the refinery…

68m Poor Nigerians in National Social Register – Official The National Social Safety Net Coordinating Office (NASSCO), says it has so far captured more than 68 million poor and vulnerable Nigerians into the National Social Register (NSR). NASSCO disclosed this on Tuesday in its verified social media handle on Instagram nassco_nigeria. The agency also explained that the figure represented a total of 19 million vulnerable Households across the 36 states and the FCT. The idea behind the NSR is to create a comprehensive database of poor and vulnerable households in the country. This is to assist government design, coordinate and…

FG Unveils Economic Plan for the Country The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, says the Federal Government has unveiled a comprehensive economic plan for sustainable development. Edun disclosed this in a statement issued by the Ministry’s Director of Information and Public Relations, Mr Mohammed Manga, on Tuesday in Abuja. The minister, who unveiled the plan at the 2025 KPMG Arise TV Budget News Day, also outlined Nigeria’s fiscal priorities and economic direction for the coming year. Edun said that government was commitment to fiscal discipline, revenue mobilisation, and an improved investment climate. According…

Naira-for-Crude Policy Remains in Place – Zacch Adedeji Naira-for-crude policy remains in place, the Federal Inland Revenue Service (FIRS) chief said in an official statement amidst media report that the programme has been discontinued. “Our attention has been drawn to reports suggesting that the naira-based crude oil supply arrangement with local refineries has been discontinued, forcing them to rely solely on international crude purchases. “These reports do not reflect the realities of the ongoing work under the Federal Executive Council Initiative on Domestic Sales of Crude Oil and Refined Products in Naira”, FIRS boss said. FIRS said as the committee…

Oil Prices Rebound Amidst Lingering Uncertainties Oil prices rebounded amidst uncertainties in the commodities market and concerns over the global economic impact of tariffs, a potential US recession, and OPEC+ output increase plans. The international benchmark Brent crude increased by 0.5%, trading at $69.32 per barrel, up from $68.97 at the close of the previous session. The US benchmark West Texas Intermediate rose by 0.48%, settling at $65.98 per barrel, compared to its prior session close of $65.66. As global concerns over inflation and recession persist, the trade war initiated by US President Donald Trump through tariffs is adding uncertainty…

U.S. Dollar Mixed as Euro Stabilises at 4-Month High The US dollar was mixed against its major trading partners early Monday — up versus the pound and Canadian dollar, down versus the euro and yen — as the focus turns to inflation data for February later in the week. Analysts have maintained that the US dollar is fragile and would be hit by a soft number. However, FX markets are starting to settle down after a momentous week, ING says in a note. Federal Reserve officials are in their ‘quiet period’ ahead of the March 18-19 Federal Open Market Committee…

Geregu Power Sets N8.651bn as Q2 Profit Target Geregu Power Plc has estimated N8.651 billion as its profit target for the second quarter of the financial year 2025.  The company is expecting revenue to print at N53.143 billion in the same period, estimating a gross profit of N20.588 billion as costs of sales amounting to N32.55 billion.   The power-generating company estimated an impairment charge of N4 billion on its financial assets, and about N2.7 billion was set for administrative expenses. For the second quarter of the year, Geregu Power estimated that the company’s operating profit will be N13.877 billion.…