Economy
Nigerdock Attracts More Investments, Deepens Nigeria-UK Ties
By Dipo Olowookere
The new British Deputy High Commissioner for Lagos, Ms Laure Beaufils, visited Snake Island Integrated Free Zone (SIIFZ) to see first-hand the significant potential to further strengthen the bilateral relationship between the United Kingdom and Nigeria, by enabling UK businesses to partner with Jagal Energy and Nigerdock and to promote exports to, and investment in, Nigeria.
Ms Beaufils made this known during her visit to the company’s extensive facility, located at Snake Island Integrated Free Zone in Lagos, as part of her familiarization of the oil and gas industry in her new role to explore opportunities for UK firms to do business in Nigeria. To date, Jagal has invested over $550m at the Free Zone and continues to expand to drive greater local content capability, working with the UK and many others.
Speaking during the visit, the British Deputy High Commissioner lauded the significant contributions of Jagal Energy and Nigerdock to the growth of Nigeria’s energy sector by stating:
“The scale of investment within Nigerdock here is much more than I had anticipated. The facility is very large and there is so much strategic investment in terms of materials and facilities which provides massive opportunities for companies working in oil and gas supply chain to partner with Nigerdock and Jagal Energy.
“There is a lot more I know that can be done here and I have been incredibly impressed by what is available here.
“We all know that oil and gas industry contributes hugely to Nigeria’s export revenue, so it is fundamental that this industry continues to be effective and efficient. Stakeholders like Jagal Energy are key players in the field. And they are at the heart of growth, job and economic development in Nigeria,” she noted.
The British Deputy High Commission will explore opportunities for UK businesses to partner with Nigerdock as this can further strengthen the socio-economic and political ties between the two countries.
She was received and conducted on a tour by a team of top executives of Jagal and Nigerdock.
While presenting an overview of Jagal Energy to the delegation, the Group MD Chris Bennett explained that Jagal has been at the forefront in providing world class services in Nigeria’s energy sector for many years, driven by its core values of leadership, excellence, accountability and dynamism.
Nigerdock is a wholly owned Nigerian company with diverse capabilities that support highly complex oil and gas projects, during all stages of an asset lifecycle.
The company’s facility is an integrated hub that offers services to broad range of leading global IOC’s and National clients across the energy sector.
The Group MD also stated that at the very core of these major oil and gas deliveries is Nigerdock’s committed passion for developing a highly skilled indigenous workforce in-country in line with local content development standards.
Nigerdock is also the largest shipyard facility in West Africa and continues to strive to achieve its vision to maximize its stakeholder returns, thus fostering National economic development, enhance the capabilities and most importantly the competencies of its people, and build a sustainable and efficient skills base. In terms of capacity building in Nigeria, Nigerdock provides the highest quality needs-based training and development.
This track record is delivered through the Nigerdock Training and Development Academy, a fully-equipped facility which has trained over 6,000 personnel in a range of skills including project management, quality, occupational health and safety, welding, fitting, painting and coating, machining, lifting and rigging as well as scaffolding etc.
Even before the enactment of the NOGICD Act, Nigerdock was at the forefront of Nigerian content development and has come to be known across the industry as the Champion of Nigerian Content. We have attained this recognition not only by consistent investment in our people, infrastructure, equipment and facilities, but also by our dedication to lead the market in building National capacity in Nigeria,” Chris Bennett explained.
The British Deputy High Commission delegation was given an extensive tour of the facility including viewing where Nigerdock are currently preparing to load out, on schedule, to budget the second phase of some 6,500 tonnes of fabricated FPSO structures; the single largest fabrication location in-country for the Egina project. The Egina project involvement, a flagship project for Total, attests to Nigerdock’s massive contributions to local content development in Nigeria.
Nigerdock also added that several global blue-chip businesses and smaller service providers have become investment Partners with Jagal and Nigerdock, due to Jagal Energy’s track record of successful Partnering relationships and bespoke Partnership methods and agreements.
The delegation commended Nigerdock for its commitment to Nigeria and the energy services sector. Over the years, Nigerdock has continuously demonstrated its project execution expertise by taking on and delivering complex projects of an ever-increasing scope and complexity; these projects include the Ofon Phase II Project for Total, the Satellite Field Development project and Erha North Projects for ExxonMobil, and the DSO (Meren and Sonam) project for Chevron among others.
By Aduragbemi Omiyale
Barring any last-minute changes, the 50th Annual General Meeting (AGM) of Champion Breweries Plc will take place on Thursday, May 21, 2026, at the Oriental Hotel, Victoria Island, Lagos, at 11:00 am.
At the yearly shareholders’ gathering, some of the key statutory and governance matters to be considered will include the Audited Financial Statements for the year ended December 31, 2025, alongside the Reports of the Directors, Auditors, and the Audit Committee.
Other agenda items are the declaration of dividends, election and re-election of Directors, authorisation for Directors to determine the remuneration of the Auditors, and election/re-election of shareholders’ representatives to the Audit Committee.
In line with its commitment to transparency, accountability, and shareholder engagement, the AGM will be held physically while also being accessible to stakeholders via the company’s official website: www.championbreweries.com.
This year’s AGM comes at a defining moment in the organisation’s corporate journey, following a transformative year marked by strategic expansion initiatives, including the acquisition of Bullet Energy Drink and its successful engagement with the capital market to raise growth capital.
These developments reinforce Champion Breweries Plc’s commitment to strengthening its competitive positioning, expanding its portfolio, and delivering long-term shareholder value.
The brewer has strengthened its transition into a group structure with the acquisition of an 80 per cent stake in enJOYbev B.V., a strategic move already delivering early earnings contribution and validating its international expansion drive.
The subsidiary’s results are now being consolidated into the Group accounts for the first time, with enJOYbev B.V. already contributing positively to earnings through operating profitability within the reporting period, an early validation of the group’s expansion strategy.
“This AGM reflects a defining chapter in our journey as a Company. The acquisition of Bullet, our successful capital market engagement, and the integration of enJOYbev B.V. into our group structure all signal a deliberate strategy for sustainable growth and diversification.
“These milestones position Champion Breweries Plc for stronger performance, broader market reach, and enhanced shareholder value. We remain committed to disciplined execution, operational excellence, and the highest standards of corporate governance,” the chairman of Champion Breweries, Mr Imo Abasi Jacob, said.
By Adedapo Adesanya
The Nigeria Revenue Service (NRS) has unveiled a unified Taxpayer Identification (Tax ID) system for all taxable persons across the country as part of efforts to strengthen tax administration and improve transparency.
The agency announced the development in a public notice issued jointly with the Joint Revenue Board (JRB) on Monday.
According to the notice, the initiative is backed by Sections 6, 7, and 8 of the Nigeria Tax Administration Act, 2025, which mandate every taxable person in Nigeria to obtain a Tax ID, in a wider move to expand the country’s tax base.
The NRS said the new framework is designed to create a centralised and harmonised taxpayer database that would enhance interactions between taxpayers and revenue authorities at both federal and sub-national levels.
“The Tax ID will serve as a single, unified identity for all taxpayers, enabling seamless interaction with tax authorities at both federal and sub-national levels. It is designed to consolidate taxpayer records, eliminate duplication, and ensure more efficient management of tax-related information,” the agency stated.
The revenue agency explained that the new system would simplify tax compliance procedures, including taxpayer registration, filing of returns, and payment processes.
According to the NRS, the framework is also expected to improve accountability and reduce leakages in tax collection by creating better visibility and tracking of taxpayer information nationwide.
“The initiative will simplify tax compliance processes, including registration, tax filing, and payment procedures. The system will improve transparency by enabling better visibility and tracking of taxpayer records while reducing leakages and improving accountability in tax collection. The framework will also harmonise taxpayer information across all levels of government,” the notice added.
The agency further disclosed that the new Tax ID system would replace the existing Tax Identification Number (TIN) Validation API currently used by Ministries, Departments and Agencies (MDAs), financial institutions, and other organisations for taxpayer verification.
By Adedapo Adesanya
Three bellwether stocks weakened the NASD Over-the-Counter (OTC) Securities Exchange by 1.31 per cent on Monday, May 18.
This brought the NASD Unlisted Security Index (NSI) by 54.71 points to 4,133.70 points from 4,188.41 points, and shrank the market capitalisation by N32.73 billion to N2.473 trillion from N2.506 trillion.
Yesterday, FrieslandCampina Wamco Plc contracted by N12.45 to sell at N146.55 per share compared with last Friday’s closing price of N159.00 per share, Central Securities and Clearing System (CSCS) Plc declined by N2.34 to N70.00 per unit from N72.34 per unit, and NASD Plc lost 50 Kobo to trade at N34.50 per share versus N35.00 per share.
The trio overpowered the N5.56 gained Newrest Asl Plc. This stock ended the trading session at N61.15 per unit, in contrast to the previous session’s N55.59 per unit.
During the trading day, the volume of securities traded by investors slid by 56.1 per cent to 514,142 units from 1.2 million units, and the value of securities dropped 29.8 per cent to close at N17.4 million versus N29.8 million, while the number of deals jumped 12.5 per cent to 27 deals from 24 deals.
Great Nigeria Insurance (GNI) Plc remained the most traded stock by value on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 60.8 million units exchanged for N4.1 billion, and Okitipupa Plc with 27.9 million units traded for N1.9 billion.
GNI Plc also ended the day as the most traded stock by volume on a year-to-date basis 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 transacted for N1.2 billion.
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