Economy
NNPC Gets DPR Support to Strengthen Energy Sector
By Adedapo Adesanya
The Department of Petroleum Resources (DPR) has pledged to support the Nigerian National Petroleum Corporation (NNPC) to deliver value to Nigerians in the energy sector.
The Director/Chief Executive Officer of the DPR, Mr Sarki Auwalu, gave this assurance when a delegation of the NNPC management team led by the Group Managing Director, Mr Mele Kyari, visited his office in Abuja on Tuesday.
The DPR chief said that as a regulator, it does not stand to look for faults, rather, it helps operators to deliver on business mandates to boost economic activities.
“Being a regulator is trying to catch people that you regulate doing something right, not the other way round; it is better for us to come together like you have done today.
“The most important thing for us is to help operators do something right. Our own is to enable business and create opportunity, and for everything we do, especially for our own company like NNPC, it is to ensure the success of the company.
“This is because the success of the company is the success of Nigeria, and coming together like this is great, and that is why we are excited that the GMD and his team are visiting us, the first in the history of this organisation,” he said.
According to him, the move goes down to change the history and to prove that they are all for Nigeria and the success of the business of oil and gas in our country.
He said that working together would encourage transparency and efficiency, adding that it was a commitment to business and efficiency that brought the NNPC to a profit company.
Mr Auwalu commended the GMD for the various landmarks that had helped to transform the operations of the NNPC which history will not forget.
“Today, in the whole world after 44 years, this is the first year NNPC has recovered and declared profit.
“We are proud of it and we put our head high in the comity of nations that our biggest corporation in Nigeria is no longer the way it is being seen,” he said
He noted that energy security and availability of gas through the East-West pipeline (OB3), Trans Niger pipeline, which the GMD was championing, would help to tackle poverty in the country.
He thanked Mr Kyari for making out time to visit the DPR and assured him of the support of the department to create success in all the corporation was doing.
“What we are doing is to guarantee the success and stability of what you have already done.
“DPR, looking at the success and strategy you embarked on, had created a platform to help consolidate the assets, the licenses, permits and approvals we have issued,” he said.
He noted that DPR was committed to oil exploration in the country and appreciated the effort of NNPC to ensure that more volumes were out to help the country make more money through royalties.
The DPR helmsman also commended NNPC’s effort to enhance production and encourage new production reservoirs.
He noted that the reserve to production ratio was not equal, adding that the profit declared by NNPC had opened a floodgate for investors to the country.
On his part, Mr Kyari thanked the DPR for the support it had been giving to the corporation, which had helped the NNPC operations.
“The fate of the oil and gas industry rests in the hands of DPR and the NNPC, and by implication, the prosperity of the country rests in the hands of the two organisations.
“As we go through the journey of transition to deepen gas penetration and monetisation in the country, to ensure that we create new gas industry, to process new oil, everything leads to making sure there is prosperity in the country.
“Nigerians depend on DPR and NNPC to bring prosperity to this country and therefore as a regulator, you are also the supporter of the National oil company.
“Your presence is to help the National oil company to deliver value to all of us and for us in NNPC, it is our responsibility to make sure that we comply with every regulation to make sure that we are doing the right thing,” he noted.
By Adedapo Adesanya
A 10 per cent equity stake has been acquired by Odu’a Investment Company Limited in a subsidiary of FCMB Group Plc, FCMB Pensions Limited.
The move is aimed at strengthening its presence in Nigeria’s growing pension industry.
The company disclosed that the transaction was completed after receiving all required regulatory approvals from the National Pension Commission (PenCom) and the Central Bank of Nigeria (CBN), while the Securities and Exchange Commission (SEC) has also been duly notified.
Odu’a Investment said the acquisition represents a strategic investment in a resilient and steadily expanding segment of Nigeria’s financial services sector.
The company added that the deal also reinforces FCMB Pensions’ shareholder base through the entry of a long-term institutional investor.
Chairman of Odu’a Investment Company Limited, Mr Bimbo Ashiru, said the investment aligns with the organisation’s strategy of partnering with strong institutions operating in sectors critical to Nigeria’s long-term economic stability.
“This investment reflects Odu’a’s strategy of partnering with strong institutions operating in sectors that are central to Nigeria’s long-term economic stability and growth,” he said in a statement.
“The pension industry plays a critical role in mobilising long-term savings and strengthening the financial system. FCMB Pensions has built a solid platform serving contributors across Nigeria, and we see a significant opportunity to support its continued growth and impact,” he added.
Also commenting on the transaction, the Managing Director of Odu’a Investment Company Limited, Mr Abdulrahman Yinusa, described the deal as a vote of confidence in FCMB Pensions’ leadership and long-term prospects.
“Our partnership with FCMB Group Plc reflects confidence in FCMB Pensions’ strategy, leadership, and long-term potential. Together, we will work to expand its reach, support its strategic objectives, and deliver sustained value to contributors and other stakeholders,” Mr Yinusa said.
The investment brings together two established institutions with complementary strengths and a shared focus on long-term value creation. According to the company, the partnership positions FCMB Pensions to deepen market penetration and enhance service delivery within Nigeria’s contributory pension scheme.
Odu’a Investment Company Limited is an investment holding company jointly owned by the governments of the six South-West states of Nigeria.
The firm manages a diversified portfolio spanning real estate, financial services, hospitality, agriculture, and industrial investments, with a mandate to generate sustainable economic value and support regional development.
By Aduragbemi Omiyale
The chief executive of the Nigerian Exchange (NGX) Group Plc, Mr Temi Popoola, has said Nigeria’s capital market is undergoing a re-rating as global investors begin to reassess the country’s economic trajectory and investment potential.
“What we are seeing is a gradual re-rating of Nigeria. investors are beginning to look at the data more closely, the returns, the reforms, and the improving macroeconomic direction, and that is changing sentiment,” he said during a live interview on BBC Newsday in London.
He is in the United Kingdom as part of broader investor and stakeholder engagements during President Bola Tinubu’s state visit to Buckingham Palace.
Mr Popoola explained that Nigeria’s equity market has delivered strong returns in recent months, positioning it more competitively among emerging and frontier markets. According to him, this performance is helping to recalibrate long-held risk perceptions and attract renewed interest from international investors.
He added that improvements in Nigeria’s energy landscape, including increased domestic refining capacity and ongoing sector reforms, are helping to reduce the economy’s exposure to external oil price shocks, further strengthening investor confidence.
Mr Popoola emphasised that beyond short-term market movements, consistency in policy implementation will be critical in sustaining this shift in perception. “Global capital responds to clarity and consistency. As those elements become more evident, Nigeria naturally becomes more investable.”
He also highlighted the importance of sustained engagement with global financial centres, noting that platforms such as London play a key role in connecting Nigeria’s capital market to international pools of capital.
According to him, Nigeria’s evolving market structure, combined with ongoing reforms, is strengthening its position as a viable destination for long-term investment. “There is a broader recognition that Nigeria offers significant opportunities. The focus now is ensuring that this recognition translates into sustained capital flows.”
The NGX group chief concluded that Nigeria’s capital market is increasingly being viewed through a more balanced and data-driven lens, reflecting both its resilience and its long-term growth potential.
By Adedapo Adesanya
Global cryptocurrency platform, Luno, has launched a structured crypto prediction markets product in Nigeria, which will enable customers to apply their market knowledge to short-term crypto price events and earn USDC when their insights are correct.
The prediction market allows customers to express a view on whether the price of selected crypto assets, being BTC, ETH, SOL, DOGE, and XRP, will be above or below the daily price event. The market operates daily with clearly defined rules and settlement periods, offering customers structured, time-bound opportunities to act on their conviction.
Nigeria remains one of the most active crypto markets globally, with increasing demand for tools that combine simplicity and transparency. By introducing Prediction Markets focused solely on price levels, Luno aims to provide a fast, confident, and opportunity-forward format for market engagement.
Unlike traditional gaming or prediction firms like Polymarket and Kalshi, in which the odds are set by the company, Luno’s Prediction Market, powered by Limitless, is focused exclusively on crypto asset price movements within the Luno platform.
This means customers are not purchasing the underlying asset, but participating in a defined, outcome-based market that settles transparently based on real-time price data.
According to a statement, the launch reflects a broader shift in how customer behaviour is evolving in Nigeria’s growing crypto asset ecosystem, particularly as crypto asset adoption matures, many users are seeking more flexible and responsive ways to engage with markets beyond long-term holding or traditional spot trading.
Luno’s Prediction Markets product is designed to meet this demand within a familiar and regulated platform environment. The feature builds on how customers already interact with crypto asset prices – analysing charts, following market news, and forming views- and provides a structured framework for expressing those views.
According to Mr Ayotunde Alabi, chief executive of Luno Nigeria, the company is combining crypto education with a secure platform to help Nigerians confidently apply their market knowledge in a responsible and practical way.
“We are seeing a clear shift in how Nigerians want to engage with crypto assets. Many already follow price movements closely and form strong market views; we want to lead with education as well as provide a safe and secure platform to help them apply that knowledge. This feature is designed to be a natural extension for those who enjoy forecasting.
“By tying this to our ongoing educational initiatives, such as our scholarships with AltSchool, we are encouraging users to apply what they have learned about market analysis into a practical, responsible framework. Our priority is ensuring that where confidence meets opportunity, it is supported by the standards of trust our customers expect.”
Luno said it will further support the rollout with Learn & Earn educational content and tutorials explaining market mechanics and price determination. To promote informed decision-making and ensure the product is used responsibly,
Luno has embedded specific controls, including customers reading and acknowledging a risk disclosure before participating, as well as moving funds from their ordinary USDC wallet to a separate prediction wallet, which will be used to participate in prediction markets.
The firm also said that customers cannot hold both sides of the same market, in this case, Above and Below at the same time.
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