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.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) 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 traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
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