Economy
NNPC Moves to Improve Diesel Quality

By Modupe Gbadeyanka
The Nigerian National Petroleum Corporation (NNPC) has commenced work on a scheme to improve the quality of diesel in the Nigerian market for efficient and optimal performance of diesel-powered engines.
This was disclosed by the Manager, Collaborative Research of the Research & Development Division, Engr. David Akpan, in a presentation made to the Group Managing Director of NNPC, Dr Maikanti Baru, during an official tour of some R&D facilities in Port Harcourt on last Wednesday.
Giving details of the research, Engr. Akpan said the R&D Division was working in collaboration with Petronas, Petrobras, Statoil and Saudi Aramco to achieve significant reduction in sulphur and carbon content as well as other impurities in diesel.
He stated that the project also involves non-conventional upgrading of other refined products including crude oil.
Speaking at the event, Dr Baru described research and development as a vital tool for advancement in any organization desirous of re-inventing itself in the ever competitive market place.
The GMD called on the Management and Staff of the Division to support him in the renewed vision to transform R&D.
“Organisations that grow commit a significant part of their budget to research and development and we are going to do that; if what it takes for you to grow is to make you a limited liability company, we are going to do that,” the GMD stated.
He, however, charged the Management and Staff of the Division to brace up for the challenges that come with operating as a limited liability company.
“It means that your staff cost will not be borne by NNPC Corporate Headquarters but by you, and you have to make profit and support the Corporate Headquarters. We are looking forward to that day and we expect a lot from you,” he said.
Engr. Akpan explained that the mission of the Division was to carry out research, develop technology and provide services to the oil and gas industry. He added that its operation was propelled by the vision to be a world-class petroleum research centre driven by innovation and quality.
He said the Division has capabilities to handle sundry industry projects across the upstream, midstream and downstream sub-sectors
In the upstream, he stated that the Division has proven capacity to handle seismic studies, geochemical and geophysical studies, drilling/mud studies among others.
The R&D Division, he also noted, has developed capacity in handling midstream issues like environmental and air pollution monitoring, environment compliance monitoring, environmental impact assessment studies etc.
In the downstream sub-sectors, R&D has posted good results in testing crude oil assay, fresh/waste water evaluation and petroleum product quality testing among others.
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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