Economy
Buhari to Declare 2020 NIPS Summit Open
By Adedapo Adesanya
During his outlook for the energy sector last month, the Minister of State for Petroleum Resources, Mr Timipre Sylva, declared that 2020 would be the year of Gas for Nigeria. To kickstart this, the country is set to host the third annual Nigeria International Petroleum Summit (NIPS) from February 9 – 12, 2020 in Abuja.
The NIPS conference will be themed: Widening the Integration Circle: Technology, Knowledge, Sustainability and Partnership and will present strategies and opportunities for growth in oil, gas and energy technologies as well as showcase major contract signings.
The summit will provide the opportunity for the nation to outline how local companies can be crucial in the advancement of the petroleum industry to boost the country’s output. The delegation will be led by President Muhammadu Buhari; Mr Timipre Sylva; and the Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr Mele Kyari.
Speaking on the event, Mr NJ Ayuk, the Executive Chairman of the African Energy Chamber and CEO of the Centurion Law Group, noted that the event would attract over 5,000 international energy executives which was an opportunity for the country to make it plans known.
“NIPS is the most opportune space for Nigeria to communicate its growth and development plans, more so since the Honorable Minister declared 2020 as the year of gas for the country,” he said.
The summit will also see the country showcase its oil and gas investment – led by the Nigeria Liquified Natural Gas (LNG) Train-7 project, which recently is set to boost production by 30 percent from the current 22.5 capacity million tonnes per annum (mtpa) to 30 mtpa.
“Following the recent $10 billion investment on Train-7 which will enable the NLNG processing unit to remain the fifth-largest supplier of LNG in the world, Nigeria is right to build on this momentum,” he stated.
The event is set to feature speakers, including former Minister of State for Petroleum Resources, Nigeria, Mr Ibe Kachikwu; Mr Omar Farouk Ibrahim, OPEC Governor for Nigeria; Mr Sun Xiansheng, Secretary General, International Energy Forum; Mr Jean-Marc Thystère Tchicaya, Minister of Hydrocarbons, Republic of the Congo and Mr Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons Republic of Equatorial Guinea.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
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