Economy
FG Plans Oil & Gas Park Project beyond Niger Delta States
By Modupe Gbadeyanka
Last Friday, Minister of State for Petroleum Resources, Mr Emmanuel Ibe Kachikwu, laid the foundation of the Nigerian Oil and Gas Park being developed by the Nigerian Content Development and Monitoring Board (NCDMB) at Emeyal-1, Ogbia Local Government Area of Bayelsa State.
When completed, the park will generate about 2000 jobs and also create a regional low-cost manufacturing hub that will produce equipment components and spare parts to be utilized in the nation’s oil and gas industry.
NCDMB said it was working to establish oil and gas parks in five oil producing states, with the Emeyal-1 project the second to take-off.
A similar ground-breaking event was held early March at Odukpani, Cross Rivers State. The other sites are located at Oguta in Imo State, Ikwe-Odio in Akwa Ibom State as well as in Delta State.
Speaking at the event, the Minister stated that the Federal Government plans to develop similar projects in other parts of the country so as to extend the benefits to more Nigerians.
According to him, “We will work with the Board and provide everything that is needed for the projects. After the development of the five pilot parks in the Niger Delta states, we will extend this very innovative idea to other parts of Nigeria where oil has either been found or is being explored.”
Mr Kachikwu affirmed that “this initiative will send a message to investors that Bayelsa is ready for oil and gas business and drive home the point that the park will bring about localization of indigenous companies, where fabrication, pipe milling, procurement hubs and oil and gas related technologies will flourish.”
In his welcome address, the Executive Secretary of NCDMB, Engr. Simbi Wabote confirmed that the “park occupies a total land mass of about 25 hectares which will comprise various warehouses, manufacturing shop floors and factories, training centre, hostels, administrative block, mini estate, security posts, fire station, including truck parking and holding areas.”
He informed that the park will be provided with uninterrupted power supply to address the electricity challenge which often besets most Nigerian manufacturers and businesses.
The Executive Secretary described the ground-breaking as a great step towards achieving one of the Board’s key mandates, adding that “this project will positively impact Bayelsa State in general and Emeyal community and its environs in particular. Citizens of the host community and environs will also benefit from on-the-job training opportunities.”
Mr Wabote appealed to the host community to support and defend the project so it will be completed on schedule, warning that it will be relocated if it faces unreasonable demands and disruptions.
In his remarks, Governor of Bayelsa State, Mr Henry Seriake Dickson, represented by Secretary to the State Government, Mr Kemela Okara, commended NCDMB for siting one of the oil and gas parks in the state. He acknowledged that NCDMB had been a veritable partner of the state government and had contributed to the growth and development of Bayelsans.
Mr Okara asserted that the Government was determined to industrialize the state and will support every effort designed to complement its efforts. “As a state we will support the execution of this project and ensure there is peaceful and conducive environment to aid the speedy completion as planned.”
The Obanobhan III of Ogbia Kingdom, His Eminence, King Dumaro Charles-Owaba assured the Board that the community is peaceful and the project will not be disrupted. He solicited that more investments should be sited in the community to create employment opportunities for youths.
By Dipo Olowookere
It was a windfall for shareholders of Zichis and Japaul on the Nigerian Exchange (NGX) Limited last week as the prices of the two stocks expanded by over 60 per cent each.
Business Post reports that on the part of Zichis, it chalked up 60.74 per cent to trade at N17.36, while Japaul appreciated by 60.16 per cent to N4.02.
Further, Infinity Trust Mortgage Bank expanded by 59.09 per cent to N15.75, Fortis Global Insurance rose by 53.85 per cent to 60 Kobo, and Jaiz Bank surged by 32.53 per cent to N11.00.
However, the losers’ group was led by RT Briscoe after it shed 20.78 per cent to close at N13.80, Mecure depleted by 18.99 per cent to N84.25, Tripple G slipped by 18.80 per cent to N5.40, Sovereign Trust Insurance moderated by 17.14 per cent to N2.32, and Ellah Lakes dropped 14.67 per cent to end at N12.80.
In the week, 71 equities appreciated, lower than 79 equities in the previous week, as 41 stocks depreciated versus 27 stocks in the preceding week, and 36 shares closed flat versus 42 shares of the previous week.
A look at the performance of the bourse showed that the All-Share Index (ASI) and the market capitalisation appreciated week-on-week by 6.95 per cent to 194,989.77 points and N125.164 trillion, respectively.
In the same vein, all other indices finished higher apart from the Growth index, which fell by 15.06 per cent, while the sovereign bond index closed flat.
As for the trading data, 7.662 billion shares worth N252.566 billion were exchanged in 345,118 deals, in contrast to the 4.652 billion shares valued at N193.326 billion traded in 286,751 deals a week earlier.
Financial stocks dominated the activity chart with 5.625 billion units sold for N113.599 billion in 129,729 deals, contributing 73.41 per cent and 44.98 per cent to the total trading volume and value apiece.
Services equities exchanged 493.131 million units worth N5.866 billion in 30,396 deals, and energy shares transacted 425.657 million units valued at N35.742 billion in 23,136 deals.
FCMB Group, Access Holdings, and Zenith Bank accounted for 3.594 billion shares worth N69.147 billion in 33,802 deals, contributing 46.90 per cent and 27.38 per cent to the total trading volume and value, respectively.
By Adedapo Adesanya
The Nigeria Investment Authority (NSIA) and Japan International Cooperation Agency (JICA) have finalised agreements to launch a $50 Sovereignmillion impact innovation fund aimed at strengthening the Nigerian start-up ecosystem.
The fund is expected to provide patient capital to pre-seed, seed, and early-stage startups addressing critical social challenges in sectors such as agriculture, healthcare, education, energy, waste and water management.
JICA will provide $14 million in grant support, while NSIA contributes up to $20 million to match the grant.
Structured as an onshore public fund, the initiative combines financial support with technical assistance to help startups refine products, scale operations, and expand into new markets.
The fund is expected to create jobs, improve livelihoods, and contribute to sustainable economic development across Nigeria.
Speaking at the agreement signing ceremony between NSIA and JICA at the Ministry of Budget and Economic Planning, Mr Aminu Umar-Sadiq, the chief executive of NSIA, said: “The Fund represents a transformative step for Nigeria’s startup ecosystem. By providing early-stage ventures in high-impact sectors with the capital and support they need to grow, we are enabling innovators to tackle some of Nigeria’s most pressing challenges. Our collaboration with JICA underscores our commitment to entrepreneurship, inclusive growth, and sustainable development.”
Preparations are underway to operationalise the Fund and develop a pipeline of high-impact startups ready for investment. NSIA remains committed to advancing socio-economic development through strategic partnerships that scale impact, expand innovative solutions, and unlock access to capital.
On his part, the Japanese Ambassador to Nigeria, Mr Suzuki Hideo, said, “The Government of Japan hopes this new project will take root in Nigeria and bear fruit swiftly.”
By Adedapo Adesanya
Seven price gainers flipped recent declines at the NASD Over-the-Counter (OTC) Securities Exchange, raising the alternative stock market by 2.19 per cent on Friday.
According to data, the market capitalisation added N51.24 billion to end N2.389 trillion compared with the previous day’s N2.338 trillion, while the NASD Unlisted Security Index (NSI) climbed 85.65 points to close at 3,994.32 points, in contrast to the 3,908.67 points it ended a day earlier.
Business Post reports that the advancers were led by MRS Oil Plc, which improved its value by N13.00 to N200.00 per share from N187.00 per share, FrieslandCampina Wamco Nigeria Plc gained N7.40 to settle at N91.55 per unit versus the previous day’s N84.15 per unit, Central Securities Clearing System (CSCS) Plc appreciated by N6.08 to N71.00 per share from N64.92 per share, Afriland Properties Plc added 66 Kobo to finish at N17.17 per unit versus N16.51 per unit, IPWA Plc rose 37 Kobo to N4.15 per share from N3.78 per share, First Trust Mortgage Bank Plc grew by 11 Kobo to N1.20 per unit from N1.09 per unit, and Food Concepts Plc went up by 10obo to N3.70 per share from N3.60 per share.
On the flip side, there were two price losers led by Geo-Fluids Plc, which depreciated by 28 Kobo to N3.32 per unit from N3.60 per unit, and Industrial and General Insurance (IGI) Plc dropped 5 Kobo to sell at 45 Kobo per share from 50 Kobo per share.
Yesterday, the volume of trades went down by 92.0 per cent to 3.7 million units from 45.8 million units, the value of transactions fell by 59.4 per cent to N84.5 million from N208.2 million, while the number of deals went up by 7.7 per cent to 42 deals from 39 deals.
CSCS Plc remained the most traded stock by value (year-to-date) with 32.6 million units exchanged for N1.9 billion, trailed by Geo-Fluids Plc with 119.6 million units valued at N470.3 million, and Resourcery Plc with 1.05 billion units traded at N408.6 million.
Resourcery Plc closed the day as the most traded stock by volume (year-to-date) with 1.05 billion units sold for N408.7 million, followed by Geo-Fluids Plc with 119.6 million units worth N470.3 million, and CSCS Plc with 32.6 million units worth N1.9 billion.
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