Economy
NNPC to Restore Kano, Jos, Suleja Pipelines

By Dipo Olowookere
Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr Maikanti Kacalla Baru, has said efforts were on the way to repair Kaduna-Kano; Kaduna-Jos; Kaduna-Suleja) pipelines.
He made this disclosure over the weekend when he supervised the recommencement of loading operations activities at its Mosimi Area depot in Ogun State, which marked a major milestone in NNPC’s quest to ensure steady supply and distribution of white petroleum products across the entire nation.
“Already, plans are underway to re-commission System 2D (Kaduna-Kano; Kaduna-Jos; Kaduna-Suleja) pipeline. Very soon Kano, Jos and Suleja will experience the impact of our collective resolve to get these critical infrastructures back on stream,” he stated.
Mr Baru, who was represented by the Chief Operating Officer, Downstream, Mr Henry Ikem Obih, further said, “Today marks the beginning of a new era of hope and the return of commercial activities in this economic corridor, as products are being received in Atlas Cove and pumped to Mosimi for on-ward pumping to Satellite depot and loading from these two (2) great depots in this Area.”
He added, “This is a historic day for NNPC, the South West Region and indeed Nigeria as this great Area is once again back on stream, bringing more fortunes for all and sundry. The stress of moving our trucks to Lagos to convey petroleum product to this area is getting highly minimized.”
It would be recalled that System 2B Pipeline (Mosimi Area) has been down for almost a year now (since May, 2016) due to the activities of pipeline vandals along the Atlas Cove-Mosimi Pipeline Right of Way (PROW), a development that has led to crippling of commercial activities and loss of lives due to the nefarious activities of vandals.
“At some point, commercial activities that spun from our operations in this area had to be moved to Lagos. We can see that vandalism causes huge loss not only to NNPC, but to the host communities and the general public,” the GMD explained.
He thanked President Muhammadu Buhari for the constant support in ensuring the revamping of critical Oil and Gas infrastructures, especially Petroleum Products storage and distribution facilities that will aid effective distribution of products across the country.
The GMD also commended the Ogun State Government for its commitment towards ensuring the security of NNPC’s pipeline network, especially around Arepo area.
He further noted that the re-streaming of loading activities at the Mosimi Area was in line with NNPC’s drive to ensure development of oil and gas infrastructure as contained in the Corporation’s 12 Business Focus Areas (12 BUFA) and by extension, realizing Mr. President’s agenda of adding value across the entire oil and gas value chain.
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.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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