By Dipo Olowookere

The Nigerian Exchange (NGX) Limited returned to green territory on Tuesday after it chalked up 0.09 per cent on the back of renewed buying pressure.

The market regained strength yesterday despite profit-taking in the banking space, which caused its index to close lower by 0.69 per cent.

Business Post reports that insurance counter was up by 2.80 per cent, the energy sector appreciated by 2.40 per cent, the commodity segment grew by 1.22 per cent, and the consumer goods industry improved by 0.03 per cent, while the industrial goods counter closed flat.

At the close of transactions, the All-Share Index (ASI) went up by 144.32 points to 166,256.82 points from 166,112.50 points and the market capitalisation gained N93 billion to finish at N106.436 trillion compared with the N106.343 trillion it settled on Monday.

During the session, investors transacted 795.5 million equities valued at N20.0 billion in 45,410 deals versus the 629.6 million equities worth N14.8 billion executed in 57,858 deals a day earlier, indicating a rise in the trading volume and value by 26.35 per cent and 35.14 per cent apiece and a decline in the number of deals by 21.52 per cent.

Tantalizers was the busiest stock yesterday with a turnover of 87.0 million units valued at N300.9 million, Secure Electronic Technology traded 74.2 million units worth N87.6 million, a new member of the NGX, Zichis Agro Allied Industries, transacted 69.6 million units for N138.5 million, Zenith Bank sold 49.1 million units valued at N3.5 billion, and GTCO exchanged 39.1 million units worth N3.8 billion.

On Tuesday, the market breadth index was positive after Customs Street ended with 39 appreciating shares and 25 depreciating shares, representing a bullish investor sentiment.

Deap Capital, NPF Microfinance Bank, and Red Star Express gained 10.00 per cent each to sell for N5.39, N4.73, and N15.95 apiece, as NCR Nigeria soared by 9.97 per cent to N155.50, and Morison Industries also increased by 9.97 per cent to N6.84.

Conversely, Aluminium Extrusion lost 9.95 per cent to settle at N17.20, Jaiz Bank declined by 9.88 per cent to N7.21, FTN Cocoa shrank by 8.44 per cent to N7.05, UPDC decreased by 8.06 per cent to N5.70, and Caverton slumped by 5.59 per cent to N7.60.

By Adedapo Adesanya

The chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs Oritsemeyiwa Eyesan, has identified the recovery of shut-in oil and gas volumes as a central strategy for optimising Nigeria’s upstream production and stabilising revenue.

She said the oil and gas sector remains critical to Nigeria’s economic stability, stressing that effective regulation must be anchored on a strong, efficiently run upstream industry.

According to Mrs Eyesan, the commission’s agenda for the sector under her leadership, is built on three core pillars, with production and revenue optimisation taking priority.

“Our agenda rests on optimising production and revenue by recovering shut-in volumes,” she said. Shut-in volumes refer to the amount of oil or gas that is currently capable of being produced but is not being extracted because the wells have been deliberately closed off.

The NUPRC head explained that unlocking idle production requires closer collaboration between regulators and operators, supported by transparent and accountable industry practices.

Mrs Eyesan added that regulatory efficiency is another key enabler of production optimisation, noting that speed and predictability in approvals are essential to sustaining upstream operations.

“We are focused on ensuring regulatory speed and predictability through clear rules and digital processes,” she said.

The NUPRC chief further said that optimising output must go hand-in-hand with safe and sustainable operations, including effective governance of assets and improved host community outcomes.

“Strengthening safe, governed and sustainable operations, including host community outcomes and decarbonisation, is part of our broader objective,” Mrs Eyesan said.

She noted that a stable regulatory environment, combined with production recovery efforts, would support industry confidence and improve Nigeria’s ability to maximise value from its hydrocarbon resources.

By Adedapo Adesanya

Seplat Energy Plc has announced that the 300 Million Standard Cubic Feet per Day (MMscfd) ANOH gas project has achieved the supply of its first gas.

A statement by the company on Tuesday noted that the feat followed completion of the 11km Indorama gas export pipeline and receipt of regulatory approval from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

“On Friday, January 16, 2026, ANOH Gas Processing Company (AGPC) commenced gas supply to Indorama, under a firm and interruptible offtake Gas Sales Agreements (GSAs).

“To enable the flow of gas, the four upstream wells, which had been on standby since November 2025, were brought online.

“Since first gas, wet gas production has been stabilizing, delivering 40-52 MMscfd of processed gas directly from the ANOH gas plant to the Indorama Petrochemical Plant,” the statement read in part.

It noted that condensate production has reached 2.0-2.5 kboepd and is expected to increase with gas production as the plant ramps up to design capacity.

In addition, it said preparations are underway to initiate sales of processed gas to the Nigeria LNG (NLNG) with an offtake agreement structured on an interruptible basis and will support the gas plant to further scale production towards full design capacity of 300MMscfd.

“Meanwhile, the construction of the OB3 pipeline export route by Nigerian Gas Infrastructure Company (NGIC), originally designated as the primary channel for ANOH gas supply to the domestic market, has resumed, and a revised completion date will be communicated in due course”, the statement added.

The ANOH gas plant was developed by AGPC, an incorporated joint venture between Seplat Energy and the NGIC.

The integrated plant consists of two 150 MMscfd gas processing units, Liquefied Petroleum Gas (LPG) recovery units, condensate stabilisation units, a 16MW power plant, and other supporting facilities, and has been built to operate with zero routine flares.

Across the unitised field of OML 53 and OML 21, the ANOH gas plant unlocks an estimated 4.6 Tcf condensate-rich gas resource base.

“Seplat’s working interest 2P reserves in the unitised field, as booked at year-end 2024, stood at 0.8 Tcf.

“Seplat will derive value from two distinct income streams: wet gas sales from OML 53 to the ANOH gas plant, and dividends from its 50% equity ownership in AGPC.

“The LPG produced from ANOH, combined with the LPG production at Sapele and the Bonny River Terminal (BRT), will make Seplat a leading supplier of clean cooking fuel to the domestic market.

“In addition, the ANOH gas plant will process the flared gas from the Ohaji field, enabling Seplat to achieve its onshore End of Routine Flaring programme, a key commercial and sustainability initiative for the company.

“The ANOH gas plant has been developed without a single recordable Lost Time Incident (LTI) across 17.5-million-man hours, a testament to the focus of the whole team on safe and secure operations.

Speaking on the development, Mr Roger Brown, Chief Executive Officer of Seplat Energy, commenting on the feat, said, “ANOH is the first of the seven critical gas development projects identified by Federal Government of Nigeria to commence operations.

“It is an important strategic project for Seplat, our partner NGIC, and Nigeria as a whole. It has taken a significant amount of commitment and hard work to complete the project in a part of the onshore Niger Delta with limited gas pipeline infrastructure, and we are extremely proud of this achievement.

“This is our third major gas processing facility onshore and increases our Joint Venture gross gas processing capacity onshore to over 850 MMscfd.

“ANOH will provide material income streams for Seplat, reduce our carbon intensity and contribute significantly to the 2030 production target of 200 kboepd, set at our recent CMD. It will also increase energy access for Nigerians in terms of both power and clean cooking fuel for the local communities, while advancing delivery of our mission to support economic prosperity in Nigeria.”