Economy
Nipco Commits to Nigeria’s Energy Diversification, Transition Plans
By Adedapo Adesanya
The Nigerian Independent Petroleum Company (NIPCO) Plc has confirmed that its investment, put at $50 million, is helping push Nigeria’s energy diversification and transition plans, with more in the pipelines.
According to Mr Suresh Kumar, the company’s Managing Director, “We have spent more than $50 million on natural gas infrastructure over the years. We believe that there are lots of potential in Nigeria that can be explored for gas utilisation, and this will further boost our economy.”
Mr Kumar said that the organisation had deepened gas usage and market penetration in the country through massive investment in the sector.
He said that as the federal government plans to put an end to fuel subsidy, natural gas by Compressed Natural Gas (CNG) and Auto CNG were bound to be the preferred fuel of choice as the natural gas is safe, environment-friendly, and economical.
Mr Kumar said that the company had invested massively in gas infrastructure, in line with Federal Government declaration of 2021 to 2030 as Nigeria’s Decade of Gas.
He said that NIPCO was intensifying investment in gas infrastructure to bolster the gas agenda of the federal government, which was getting a booster.
According to him, already, the company has established Compressed Natural Gas (CNG) facilities across the country to make cars run on gas.
He also said that NIPCO had been expanding its scope on the supply of Liquefied Natural Gas (LNG) and constructing new pipeline infrastructure to strategic locations in the country.
Mr Kumar said, “By using indigenous gas, we can reduce the subsidy burden on the federal government.
“We can also reduce the importation burden, and that will directly or indirectly reduce capital flight and create more employment opportunities for Nigerians.
“We are the pioneers. We always dream about the future. So, we dreamt of natural gas utilisation in Nigeria right from 2008, and we started investing.
“We introduced this model to the government. Nigeria is a country that has abundant natural gas, and instead of wasting subsidy on petrol, we should be looking at a blueprint that can change the petrol market to CNG market.”
According to him, NIPCO is an integrated company that supplies the Nigerian market with petrol, diesel and gas, adding that the company currently has about 19,500 metric tonnes of combined storage capacity for Liquified Petroleum Gas (LPG) or cooking gas with 10 loading bays, which could truck-out over 4,000 tons per day.
By Modupe Gbadeyanka
A subsidiary of Stanbic IBTC Holdings Plc, Stanbic IBTC Trustees, has affirmed its leadership in delivering customer-centric fiduciary and investment solutions across the region.
The company said this after it was recently recognised as the Most Customer-Focused Trust and Investment Company of the Year for Nigeria at the 2025 West Africa Innovation Awards (WAIA).
The honour bestowed on the trustee for Customer Service Excellence reinforces its reputation for delivering exceptional client experiences, driven by innovation, integrity, and a deep understanding of the evolving financial needs for their clients.
“Being recognised as the most customer-focused trust and investment company of the year is both humbling and inspiring.
“This award reflects the strong relationships we have built with our clients and our commitment to not only meet expectations but to consistently exceed them through innovative and ethical service delivery,” the chief executive-designate of the organisation, Ms Emi Agaba-Oloja, stated at the award ceremony held in Lagos.
“What sets Stanbic IBTC Trustees apart is our willingness to embrace innovation in a traditionally conservative industry.
“As we work on digital onboarding to bespoke trust solutions, we strive to simplify complex processes and deliver insights that empower our clients.
“Our goal is to make trusteeship more responsive, inclusive, and accessible to Nigerians. A sincere thank you to our clients, partners and the incredible team that continue to drive our success,” she added.
The West Africa Innovation Awards, now in their 14th year, is a leading regional platform that is attended by a wide range of government stakeholders, brand experts, and corporate leaders in West Africa.
As the field of wealth management and trust services undergoes constant transformation, Stanbic IBTC Trustees says it remains at the forefront, redefining standards and demonstrating a commitment to empathy and innovation, stressing that the award reinvigorates a drive to empower clients and protect legacies for future generations.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange increased by 0.27 per cent week-on-week in Week 16 of the 2025 trading year.
Data indicated that the bourse’s market capitalisation rose by N5.15 billion in the four-day trading week to N1.924 trillion from the N1.919 trillion it ended in the previous week and the NASD Unlisted Securities Index (NSI) went up by 8.81 points to 3,286.38 points from the 3,277.57 points recorded in the previous trading week.
The alternative stock exchange opened for business for four days as it closed shop on Friday to celebrate Good Friday, observed by Christians across the globe,
The value of trades in the week was down by 99.4 per cent to N29.35 million from the N4.79 billion recorded in Week 15, and the volume of transactions declined by 99.2 per cent to 1.33 million units from the 171.4 million units in the previous week.
The most active security by value was Central Securities Clearing System (CSCS) Plc with N15.2 million, FrieslandCampina Wamco Nigeria Plc recorded N6.3 million, 11 Plc traded N2.2 million, Nipco Plc posted N1.3 million, and Afriland Properties Plc reported N0.616 million.
Also, CSCS Plc was the most traded instrument by volume with 0.731 million units, FrieslandCampina Wamco Nigeria Plc transacted 0.227 million units, Geo-Fluids Plc recorded 0.218 million, Paintcom Investment Plc traded 0.055 million units, and Afriland Properties Plc exchanged 0.035 million units.
Last week, there were five price gainers led by Newrest Asl Plc, which appreciated by 9.9 per cent to N37.97 per share versus N34.52 per share, UBN Property Plc gained 9.6 per cent to end at N2.17 per unit versus N1.98 per unit, FrieslandCampina Wamco Nigeria Plc rose by 5.9 per cent to N37.64 per share from N35.55 per share, Mass Telecom Innovation Plc improved by 2.5 per cent to 41 Kobo per unit from 40 Kobo per unit, and 11 Plc surged by 1.9 per cent to N245.50 per share from N241.00 per share.
On the flip side, Geo-Fluids Plc slipped by 10.00 per cent to N1.80 per unit from N2.00 per unit, and CSCS Plc depreciated by 2.6 per cent to N22.10 per share from N22.70 per share.
By Adedapo Adesanya
Celebrities, including musicians and influencers, have been warned by the Securities and Exchange Commission (SEC) against promoting unregistered investment schemes following the recent collapse of Crypto Bridge Exchange (CBEX).
In a statement made available to the press on Sunday, the commission stated that those who promote such schemes risk legal consequences.
The warning comes following the enactment of the Investments and Securities Act 2025, signed into law by President Bola Tinubu.
Explicitly defining Ponzi schemes, the new law empowers the SEC to impose a minimum fine of N20 million and a jail term of 10 years on promoters of such schemes.
SEC’s Director-General, Mr Emomotimi Agama, who spoke on the provisions of the new law, said the regulator was collaborating with the Economic and Financial Crimes Commission (EFCC), the Nigeria Police Force, and other law enforcement agencies to investigate and prosecute violators.
“The law also targets influencers and bloggers who promote fraudulent schemes, with clear penalties including imprisonment.
“We are therefore using this medium to warn such persons to desist from promoting unregistered entities,” Mr Agama stated.
He added that following the collapse of CBEX, a digital investment platform that allegedly defrauded Nigerians over billions, the SEC has intensified its crackdown on Ponzi operators.
“We will shut down their operations and the promoters will be made to face the full weight of the law,” he said.
Business Post reports that celebrities and influencers are often major promoters of these schemes and in the past many of them have put Nigerians at losses. One such prominent case was Racksterli, founded by Mr Michael Chidiebere Oti known as Black Gold and was promoted by top Nigerian musicians and actors which promised high return of up to 40 -50 per cent monthly.
However, the platform collapsed in 2021, leaving many investors without their capital or promised returns.
At that time, affected individuals called for the arrest of these celebrities for their roles in endorsing the Ponzi scheme.
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