Economy
NNPC Partners Halliburton to Search Crude Oil Deposits

By Modupe Gbadeyanka
The ongoing search for commercial hydrocarbon in the inland sedimentary basins by the Research and Development Division of the Nigerian National Petroleum Corporation (NNPC) has received a boost with a recent partnership with US-based Halliburton Corporation.
Both organisations will step up efforts to achieve the exact location of viable crude oil deposits in the inland.
Speaking in Port Harcourt, Rivers State, the Group General Manager in charge of the R&D Division, Dr Bola Afolabi, disclosed that the collaboration with Halliburton would help fast-track the inland basin exploration efforts through the use of the innovative Neftex solution designed to provide exactitude in drilling for oil.
He said the Halliburton Neftex solution would provide a geophysical mapping structure of the country and would complement the ongoing in-house efforts by the NNPC research centre to develop what is known as “Turonian Cenomanian Cretaceous source rock” for all the basins in Nigeria.
This essentially seeks to identify all the prolific basins in Nigeria by locating the cretaceous kitchen, that is, areas where large crude deposits could be found.
‘’If you take a football field for instance, there are technologies that will direct you to drill for oil within the whole field but we are using a soft wear solution that will tell you with exactitude to drill for instance in goal post one and when you do that you find large oil. That is what we are seeking to achieve with Neftex solution’’, Dr Afolabi explained.
Dr Afolabi said the collaborative research with Halliburton, which had crossed the 65 percent threshold, would take 18 months to complete.
‘’We are so excited about this project and with the assured support of the Group Managing Director of NNPC, Dr Maikanti Baru, our projection is that by the turn of next year, we should be able to help the frontier basin team achieve a pin-point location of possible commercial oil finds for eventual drilling activities’’, he said.
The GGM also informed that research work had reached advance stage on the Federal Government commissioned project assigned by the Organization of the Petroleum Exporting Countries, OPEC, to classify Nigeria’s crude oil and natural gas.
‘’The idea is to check Nigeria natural gas and condensate using the OPEC classification model and determine whether it is within the upper limits or lower limits. The ability to do that well will enable Nigeria to properly classify its Natural Gas Liquids (NGLs) and also gas condensate so we don’t mismatch production of oil with condensate because if you do that you may short change yourself,’’ he said.
He also stated that the NNPC research centre was already working on a project to enhance production from existing assets by introducing a cost effective and reliable alternative to drilling new wells. Already successful pilot scheme has been executed in collaboration with its strategic partners – Cypher Crescent Limited.
‘’With minimal cost, remarkable additional production potential was discovered. We are talking about a digital approach to wells & reservoir management. We are applying a first of its kind technology to easily reveal hidden opportunities and propose realistic well intervention programmes. We are seeking to improve the success rate of exploration and production well intervention activities, reduce operations and improve asset integrity, among others”, he said.
Established in 1977 to provide solution to operational and technical challenges of the Nigerian oil and gas industry, the NNPC R&D Division currently has on its employ, three professors, 12 Ph.D holders and handful of master degree graduates in various fields of the sciences ranging from geology to chemistry and physics.
Under the ongoing NNPC restructing, the projection is to transform the 40-year old research outfit into an autonomous and well equipped one-stop shop technology centre in the frontline of petroleum technology development efforts in the West Coast of Africa and beyond.
Economy
Dangote Cement Assures Shareholders Lasting Value, Pays N753.8bn Dividend
By Aduragbemi Omiyale
Shareholders of Dangote Cement Plc have been assured of lasting value for their investment and trust in the cement producing firm.
This assurance was given by the chief executive of Dangote Cement, Mr Arvind Pathak, at the company’s Annual General Meeting (AGM), where shareholders approved the payment of N753.8 billion as dividend for the 2025 financial year.
The cement brewer paid a cash reward of N45 per share for the year, a 50 per cent increase in dividend payout from the N30 per share a year earlier, reaffirming the company’s position as one of the most rewarding investments on the Nigerian Exchange (NGX).
The increase follows the company’s outstanding 2025 financial performance and underscores its unwavering commitment to shareholder value creation.
It was the highest dividend payout in the history of Dangote Cement and reflects the strength of its earnings capacity, robust cash generation ability, and disciplined execution of its growth strategy
Dangote Cement delivered a landmark financial performance in 2025. Earnings per share rose significantly to N59.86, demonstrating the company’s resilience and operational excellence despite prevailing macroeconomic challenges.
Mr Pathak said the dividend increase is backed by the organisation’s strong financial performance and healthy balance sheet.
“The decision to increase our dividend by 50 per cent to N45 per share demonstrates the strength of Dangote Cement’s earnings capacity and cash generation capability.
“As we continue to execute our pan-African growth strategy, we remain committed to creating lasting value for our shareholders, investing in the future of the business, and supporting Africa’s industrial development. Our shareholders have stood by us throughout our journey, and we are delighted to reward that trust with another significant increase in returns,” he stated.
The chief executive noted that the firm continues to strengthen its footprint across Africa through strategic investments and capacity expansion projects.
In 2025, Dangote Cement commissioned a 3-million-tonne-per-annum grinding plant in Côte d’Ivoire, reinforcing its presence in West Africa and increasing total installed capacity to 55 million tonnes per annum (Mta) across eleven African countries.
He added that the Company remains focused on its long-term objective of expanding installed capacity to 80Mta by 2030, while driving operational efficiency, increasing exports, enhancing sustainability initiatives, and improving shareholder returns.
On his part, the chairman of Dangote Cement, Mr Emmanuel Ikazoboh, said the increase in dividend payout reflects the company’s determination to reward shareholders for their continued confidence and support.
“Our commitment remains to create sustainable value for all stakeholders. This significant increase in dividend demonstrates the strength of our business model, our disciplined approach to capital allocation, and our confidence in the future. We are grateful for the trust our shareholders have placed in us over the years and remain committed to delivering superior returns while maintaining the highest standards of corporate governance and operational excellence,” he stated.
The organisation’s dividend history has continued to set benchmarks in the Nigerian capital market. Over the past 15 years, Dangote Cement has distributed more than N3.3 trillion in dividends to shareholders, reinforcing its reputation as a dependable creator of long-term wealth.
The latest dividend increase follows a previous 50 per cent rise from N20 per share to N30 per share, underscoring a consistent record of rewarding shareholders.
Economy
Binance Crosses $1bn in Assets Under Management for Stocks Trading
By Aduragbemi Omiyale
Stock trading on the world’s leading blockchain ecosystem and digital asset infrastructure provider, Binance, has hit a significant milestone, surpassing $1 billion in assets under management (AUM) in 30 days since launch.
This milestone follows the recent achievement by bStocks, Binance’s tokenised 1:1 US securities, which hit $100 million in AUM within two weeks of launch.
Since the platform began stock trading on June 1, 2026, it has recorded more than $3 billion in total trading volume.
Stock trading on Binance gives users access to over 7,000 US stocks and ETFs, settled in stablecoins, directly within the app alongside their existing crypto holdings.
Analysis showed that the average daily inflows stood at $42 million, while approximately 73 per cent of users come from emerging markets, with one in 7 visitors to Binance’s stock trading page registering an account; of those new sign-ups, nearly 90 per cent went on to place a trade.
In addition, fractional orders averaged 35 per cent of equity trading volume, with users able to participate from as little as $5, while almost 71 per cent of equity holdings are allocated to the Technology sector, with almost half (48 per cent) of that directed toward Semiconductors.
Nearly 740 of the 7,000 available stocks and ETFs have already been traded, with the Technology sector generating approximately 23 times the trading volume of other sectors, underscoring the conviction that Binance users have behind these positions.
The allocation patterns are consistent with a financially literate user base actively managing sector exposure rather than trading indiscriminately.
Binance Research projects that by 2031, crypto exchanges as a category could channel $2 trillion in incremental capital into global equity markets and bring 300 million new investors into the asset class.
“A billion dollars in 30 days is a sign of the demand that has been waiting decades for a door to walk through. The walls that kept most of the world out of US stocks were never as solid as they looked. We built this for the hundreds of millions of people who never had a way in,” the Head of Exchange and Trading at Binance,” Shunyet Jan, stated.
Economy
Velex Advisory’s Approach to Financial Structuring for Business Growth
Expansion across Africa is often framed as a market opportunity.
New customers, growing adoption, and expanding digital ecosystems continue to attract businesses into multiple African markets. Yet for many companies, growth across the continent becomes difficult to sustain beyond initial entry.
Across African markets, businesses must operate within different tax regimes, currency environments, banking systems, and capital access frameworks. These differences introduce financial complexity that directly impacts how companies manage cash flow, allocate capital, and sustain operations across jurisdictions.
Over time, these issues increase financial risk and slow growth, limiting the ability of emerging growth companies and established businesses alike to scale sustainably.
Financial Advisory as a Strategic Growth Enabler
According to Velex Advisory, managing this complexity requires more than accounting. It requires a structured approach to how financial decisions are made across the business.
“Poor financial management and structure is one of the biggest challenges businesses across Africa face, especially as they expand. In many cases, growth happens faster than the systems supporting it, which then leads to cash flow pressure, inefficiencies across markets, and difficulty sustaining that growth,” says Jonathan Nwanze, Finance Manager, Velex Advisory West Africa.
Businesses, therefore, need structured, strategic financial advisory to help them:
- Align their financial structure and capital structure with the expansion strategy
- Manage capital across multiple jurisdictions, and maintain visibility across revenue and cost centers.
- Prepare for investment, funding, and capital raising
- Ensure compliance without limiting operational flexibility.
This is what enables businesses to move from operating to scaling with clarity, financial flexibility, and control across markets.
How Velex Advisory Structures Finance for Scalable Growth
Financial advisory is one of Velex Advisory’s core service areas, supporting businesses by aligning financial strategy with how they operate and expand across African markets.
Rather than treating finance as a back-office function, the firm works with companies to ensure that financial decisions support business growth, market entry, and long-term sustainability across multiple jurisdictions.
“Scaling across multiple markets requires more than access to capital. It requires discipline in how that capital is structured, deployed, and managed across the business,” says Vadim Mildov, Executive Chairman, Velex Group.
At Velex Advisory, financial advisory is delivered as a structured, hands-on process that connects financial planning with operational and strategic decision-making across the business.
This includes:
i) Tax Advisory
Operating across multiple markets requires careful alignment with different tax regimes.
Velex Advisory supports clients in structuring their operations to ensure tax efficiency while maintaining compliance with local regulations. This includes corporate tax positioning, cross-border tax considerations, and aligning tax structures with revenue flows, business plans, and overall financial goals.
ii) Financial and Investment Analysis
As businesses scale, financial visibility becomes increasingly important.
Velex Advisory provides financial and investment analysis to help businesses assess performance, evaluate growth opportunities, and prepare for investment or expansion. This includes supporting investment readiness, understanding valuation, and identifying financial risks across markets.
iii) Banking Advisory and Assurance
Access to banking infrastructure and financial institutions varies significantly across African markets.
Velex Advisory supports businesses in establishing and managing banking relationships, navigating local financial infrastructure, and aligning capital and liquidity structures with operational needs. This includes guidance on liquidity management, capital planning, and financial systems that support cross-border operations.
Connecting Financial Structure to Business Growth
Financial advisory does not operate in isolation. Velex Advisory also supports businesses across key operational and legal functions that directly impact how companies operate and expand.
“Financial structuring and legal structuring are deeply connected. Decisions around transactions, partnerships, and expansion have direct implications on risk exposure and long-term sustainability,” explains Laura Gacho, Legal Manager, Velex Advisory East Africa.
On the legal side, the firm provides support in licensing and regulatory compliance, intellectual property and data protection, and transaction advisory, including joint ventures, M&A transactions, capital raises, and strategic partnerships.
From a business advisory perspective, Velex Advisory works with clients on business establishment and development, market entry and growth strategy, human resources consulting, and due diligence and valuation support, ensuring that operational, structural, and strategic decisions are aligned from the outset.
By integrating business, legal, and financial advisory services, Velex Advisory supports companies in building structures that are not only compliant but capable of sustaining long-term success and growth across African markets.
As part of the broader Velex Group and working alongside Velex Hub and Velex Investments, the firm connects advisory, investment readiness, and expansion strategy into a single, coordinated approach across markets.
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