Economy
13 Nigerian Oil Terminals Record Heavy Fall in Q3

By Adedapo Adesanya
The production output from 13 of Nigeria’s 29 crude oil terminals declined drastically between July and September 2022, according to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
According to the NUPRC data, the worst-hit crude terminals were Bonny, Brass, and Forcados, which saw production output decline by 79 per cent, 40.5 per cent, and 96.5 per cent, respectively, during the period under review.
Of the three terminals, Forcados terminal recorded the highest loss, from over 3 million barrels in July to a little over 100,000 barrels in September.
Similarly, crude oil output from Bonny was 799,294 in July before declining to 749,463 in August and then 167,582 in September.
For the Brass terminal, the output was 290,227 in July, 270,932 in August, and 172,814 in September. In the same vein, the production output from Forcados was 3,858,188 in July, 208,430 in August, and 134,437 in September.
Earlier in January 2022, the Forcados terminal produced 7,508,980 barrels, Bonny produced 3,880,351 barrels, and Brass produced 1,369,363 barrels.
The slide in production output comes as the nation battles oil theft which has seen it lose Africa’s largest producer status amid dwindling production capacity as well as its revenue generation, leading to a strain on its obligations.
Giving details about others, the data showed that crude production from the Qua Iboe terminal for July 2022 was 4,811,149, 4,796,262 for August, and 4,976,836 for September.
The Escravos crude oil terminal produced 3,697,075 for July, 4,184,361 for August, and 3,272,962 for September; The Odudu (Amenam blend) terminal produced 2,272,260 for July, 2,337,348 for August, and 2,708,033 for September; and the data from Bonga terminal shows 2,822,521 for July, 3,134,311 for August, and 3,192,789 for September.
Egina produced 3,875,580 barrels in July, 3,484,854 in August, and 3,316,063 for September while Usan produced 1,426,818 barrels in July, 1,420,202 in August (2022) and 1,274,147 in September; and Erha produced 2,123,907 in July, 1,979,774 in August, and 1,662,039 in September.
Meanwhile, Yoho produced 1,067,443 barrels in July, 970,559 in August, and 867,274 in September, while the Tulja-Okwuibome terminal produced 1,190,108 in July, 1,252,513 in August, and 1,233,366 in September 2022.
NUPRC noted that while six terminals showed nil data, 10 terminals showed an increase in crude oil production between July and September 2022.
Economy
Dangote Empowers Farmers With Tools to Improve Productivity, Livelihoods

By Modupe Gbadeyanka
To boost food security in Nigeria, Dangote Fertiliser Limited, a subsidiary of the Dangote Industries Limited, has empowered farmers in the country with the basic knowledge and tools needed to have bountiful harvests.
The company made this possible through a comprehensive training programme targeted at more than one million farmers across the country.
This is part of the organisation’s commitment to supporting small businesses, agriculture, and job creation in Nigeria.
“This programme, integral to our agricultural extension services, encompasses spot demonstrations, result demonstrations, field demonstrations, and soil sample collections.
“The training is designed to educate farmers on best practices in fertiliser application, aiming to enhance crop yields and promote sustainable farming techniques.
“By providing hands-on demonstrations and soil analysis, we strive to empower farmers with the knowledge and tools necessary to improve their productivity and livelihoods.
“This programme shows our dedication to fostering agricultural development and economic growth in Nigeria,” Ms Fatima Wali-Abdurrahman, the Senior Adviser to the president of Dangote Group, Mr Aliko Dangote, said at the 2025 Nasarawa Trade Fair Exhibition in Lafia recently.
Ms Wali-Abdurrahman, represented by the company’s National Assembly Liaison Lead, Mr Shuaibu Abdullahi, noted that partnership with the Nasarawa state chapter of the Nigeria Association of Small-Scale Industrialists (NASSI) will help create awareness and scale up small businesses.
“I am pleased to inform you that in alignment with theme of this year’s Trade Fair, the Aliko Dangote Foundation and the Bank of Industry (BoI) had entered a Memorandum of Understanding (MoU) and established a N5 billion fund dedicated to supporting micro, small, and medium enterprises (MSMEs) across Nigeria.
“This initiative aimed to create at least one million direct jobs by providing financial support to entrepreneurs engaged in manufacturing, agro-processing, and the merchandising of goods made wholly in Nigeria,” she disclosed.
According to her, the deal has benefitted cassava processors, aluminium artisans, poultry farmers, calabash carving groups, small traders, cattle rearing groups, vegetable sellers, market women and artisan groups, among others.
Economy
China Plans Duty-Free Access to Nigeria, Others

By Adedapo Adesanya
The Chinese government has announced plans to grant Nigeria and 52 other African nations full duty-free access to its vast consumer market, as part of its policy shift set to reshape Africa-China trade relations.
The new trade initiative, disclosed by President Xi Jinping in a letter to African foreign ministers, will extend zero-tariff treatment to 100 per cent of tariff lines for all African countries maintaining diplomatic ties with the Asian giant.
The move builds on a previous policy that benefited only 33 least-developed African nations and is part of China’s broader strategy to deepen economic cooperation with the continent amid intensifying trade tensions with the United States.
The results are already being felt as Chinese exports to Africa surged 12.4 per cent in the first five months of the year, reaching a record 963 billion Yuan ($134 billion), according to China’s Foreign Ministry.
The implementation of this policy could allow all Nigerian goods, from agricultural produce and manufactured items to solid minerals, enter the Chinese market without the burden of import duties. It could also help drive Nigeria’s exports higher and drive revenue for the country.
The announcement comes at a critical time, as over 30 African countries, including Nigeria, face the risk of being excluded from the United States’ African Growth and Opportunity Act, a preferential trade agreement that once allowed eligible nations to export goods to the US duty-free.
For Nigeria, the proposed duty-free access could significantly boost non-oil exports, especially in sectors like agriculture, textiles, solid minerals, and manufactured goods, areas where the country has long sought to diversify.
China is also trying to boost its partnership with other regions as it faces increased scrutiny and a tariff war with President Donald Trump of the United States, who has alleged unfair trade practices. This led to hikes in tariffs between both countries until they were paused recently to allow for more negotiations.
Economy
Sterling Bank Launches N2bn Scholarship for Private University Students

By Aduragbemi Omiyale
An initiative to provide funding support to young Nigerians studying at private universities in Nigeria has been introduced by Sterling Bank.
The financial institution is offering N2 billion under a scheme known as Beyond Education.
Sterling Bank explained that it came up with this programme to build the country’s future leaders by dismantling the barriers that keep millions of Nigerians from accessing quality, future-focused learning.
It reflects the lender’s advocacy for organisations to shift from short-term philanthropy to long-term ecosystem development.
The Sterling Beyond Education programme will fully sponsor 600 students to study high-impact fields such as Technology, Finance, Sales, and Public Health.
It is open to young Nigerians from all 36 states and the FCT, with a merit-based and inclusive admissions process.
Candidates can nominate themselves or be nominated by others, and final selection will be determined through a public voting process open exclusively to Sterling account holders.
The pilot scheme is in partnership with Miva University, founded by renowned tech entrepreneur, Mr Sim Shagaya.
Fully accredited by the National Universities Commission, Miva is redefining higher education in Africa with scalable, affordable, and flexible programs tailored to the demands of the digital economy.
The chief executive of Sterling Bank, Mr Abubakar Suleiman, said, “Progress is not a spectator sport. While others talk about Nigeria’s potential, we are actively investing in it.
“These scholarships are direct investments in the architects of our future. We are funding the education of future leaders who will build the companies, systems, institutions and solutions Nigeria needs to thrive.”
“We’re moving beyond charity. This is about building systems that last and it is much bigger than hundreds of scholarships. It’s about the future those brilliant young minds will build for our country,” he added.
Also commenting, the Growth Executive for Retail and Consumer Banking Directorate at Sterling Bank, Obinna Ukachukwu, said, “This is what inclusive investment looks like.
“This initiative goes beyond access to education, it’s access to a future. Education remains the most valuable asset anyone can have, and we’re proud to stand behind young Nigerians as they claim it.”
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