Author: Olu Anisere

NNPC, NLNG, suppliers Sign Landmark Gas Supply Deals The Nigerian National Petroleum Company Limited (NNPC Ltd.), Nigerian Liquefied Natural Gas (NLNG), and other Joint Venture (JV) partners have signed agreements to supply 1.3 billion standard cubic feet per day (mmscf/d) of feedgas. This move aims to ensure sustainability and strengthen gas supply for ongoing and future operations. The long-term Gas Supply Agreements (GSAs), with options for extension, were signed on Friday at the NNPC Towers in Abuja to boost gas supply to NLNG’s Bonny Plant. The third-party suppliers include Shell Nigeria Exploration and Production Company Ltd. – Sunlink Energies and…

Israel Warns of Gaza City Destruction Unless Hamas Disarms and Releases Hostages Israel’s Defense Minister, Israel Katz, has issued a stern warning to Hamas, stating that Gaza City will face destruction if the group fails to disarm and release all hostages. Katz’s ultimatum comes after Israeli Prime Minister Benjamin Netanyahu approved plans for a massive assault on Gaza City, despite widespread international opposition. The Israeli military has begun preparations for the evacuation of Gaza City’s one million residents, instructing medical officials and international organizations to prepare for the mass movement of civilians to southern shelters. However, Gaza’s Hamas-run health ministry…

Meta Signs Six-Year $10 Billion Cloud Computing Deal with Google Meta has signed a six-year cloud computing deal with Google worth over $10 billion. This partnership will see Meta utilizing Google Cloud’s servers, storage, networking, and other services to support its massive AI projects. The agreement is one of the biggest in Google’s 17-year cloud unit history and positions Google Cloud as a key provider for Meta’s AI infrastructure needs. The deal is part of Meta’s broader strategy to accelerate its AI infrastructure spending, with CEO Mark Zuckerberg pledging to invest hundreds of billions of dollars in building several massive…

Why Nigeria Refineries are Failing – PENGASSAN The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has identified the reasons why the Nigeria’s state-owned refineries are failing. The association said that the refineries are not failing because Nigerians lack the skills, but as a result of political interference which denied workers the tools, resources, and enabling environment to deliver effectively. Mr Festus Osifo, the association’s President who stated this on Friday at the ongoing 4th PENGASSAN and Labour Summit (PEALS 2025), also identified widespread corruption and mismanagement as reasons for the failure of the refineries. The three days…

NIGCOMSAT Targets N8bn Revenue Through Broadband Expansion The Nigerian Communications Satellite Ltd. (NIGCOMSAT) has announced plans to generate N8 billion in revenue within the next three years through expansion of its broadband services. The Managing Director of NIGCOMSAT, Mrs Jane Egerton-Idehen, disclosed this during a stakeholder roundtable event organised by the company on Friday in Lagos. Egerton-Idehen said broadband remained the company’s most profitable but least utilised product line, with only seven per cent currently in use. She said that about 93 per cent of the satellite’s broadband capacity was still idle, despite its wide applications in education, healthcare, defence,…

Equity Investors Lose N780bn as BUA Cement, MTN Nigeria Plunge The equity market capitalisation of the Nigerian Exchange (NGX) declined further as investors lost more than N780 billion from their combined portfolio value on Thursday due to a bearish pose in the local bourse. The market was dragged down by sell pressures in heavyweightstocks BUA Cement and MTN Nigeria eclipsing gains recorded by other lightweight companies. Due to profit-taking on these bellwether stocks, the domestic bourse closed today’s trading session on a bearish note, as key market performance indicators declined by 0.87%. The NGX year-to-date return moderated to 36.34% as…

FG’s Loan Facilities Viable to Boost Export Trade – NEPC The Nigerian Export Promotion Council (NEPC) has described loan and grant facilities provided by the Federal Government as viable tools to boost export trade. Coordinator of the NEPC in Imo, Mr Anthony Ajuruchi, said this at an engagement forum of non-oil exporters with trade-related agencies, organised by the council, in Owerri, on Wednesday. Ajuruchi said that with support from government agencies, the export market in Imo and Nigeria at large can afford to expand and compete with global markets. He urged exporters in Imo to take advantage of the soft…

FG Declares Nationwide Push to Address Housing Deficit The Federal Government has declared a nationwide broader strategy to reduce Nigeria’s housing deficit. The Minister of Housing and Urban Development, Ahmed Dangiwa made this known while inaugurating the FHA Express View Estate 1 and FHA Complex in Lugbe, Abuja on Tuesday. Represented by the ministry’s Permanent Secretary, Dr Shuaib Belgore, he said the newly commissioned estate was among several housing projects being delivered under President Bola Tinubu’s Renewed Hope Agenda. He said: “This event is not just about cutting a ribbon. It is about showing Nigerians that progress is possible. “The…

Mobile Data: NCC Commits to Consumer Protection, Transparency Dr Aminu Maida, the Executive Vice-Chairman of the Nigerian Communications Commission (NCC), has reaffirmed the organization’s commitment to transparency, accountability, and innovation in regulating the country’s telecommunications sector. Many Nigerians have complained about what they describe as high tariffs and expensive data by telecom providers. Maida said during an interactive session with newsmen on Tuesday in Abuja that the commission was determined to protect the interest of telecom services and mobile data users nationwide. He said that NCC was adopting information disclosure strategies, rooted in behavioural economics to nudge service providers toward…

South Africa Rand Rally on Higher Gold Prices, Economic Data The South African rand traded around 17.6 per U.S dollar in the forex market, closed near its 30-day high of 17.5 against the greenback amidst sharp rally in the gold market. ZAR attraction was spurred by higher gold prices and a weaker US dollar amid economic concerns following U.S tariff and uncertainties relating to geopolitical risks. The local currency gained more than 1% in the last two days, boosted by weaker dollar after U.S reported inflation rate eased, raising investor expectations of an interest rate cut by the US Federal…