Economy
NNPC to Set Up Security Council to Tackle Pipeline Vandalism
By Modupe Gbadeyanka
The Nigerian National Petroleum Corporation (NNPC) has outlined plans to establish a security advisory council aimed at bringing a lasting solution to the perennial problem of pipeline vandalism and sundry security challenges bedeviling the oil and gas industry.
Speaking during a visit to NNPC by the management of Media Trust Limited, the Group Managing Director of NNPC, Dr Maikanti Baru, said there was need to evolve new measures to bring an end to pipeline vandalism which is a major threat to the nation’s economy.
Dr Baru said the security advisory council would involve critical stakeholders which include security agencies, Niger Delta leaders, IOCs which would address all security and host community agitations.
“We want to passionately appeal to those behind indiscriminate acts of infrastructure vandalism to put an end forthwith to these despicable acts which are a great threat to the economy, the eco-system and energy security of the country,” Dr Baru stated.
He explained that since coming on board, he has ensured that the NNPC was run as a FACTI-based Corporation (Focused, Accountable, Competitive and a Transparent organisation conducting its business with Integrity.)
He noted that the Corporation’s monthly operational and financial reports were always in the public sphere for all to see, adding that it was this new wave of openness and transparency that has earned the NNPC rave reviews and accolades among Nigerians.
“With the consistent release of our monthly financial and operational reports, the Nigerian Extractive Industries & Transparency Initiative (NEITI) recently commended us for embracing openness, subjecting our activities to greater public scrutiny and providing real-time information about the state of the nation’s oil and gas sector,” Dr Baru said.
He explained that through his 12 Business Focus Areas (BUFA), the Corporation has kick-started the implementation of policies to place the organization on the path of growth and profitability.
The GMD explained that aside increasing the nation’s oil and gas reserves to 37 billion barrels of oil and 192 trillion cubic feet of gas respectively, the Corporation has also commenced exploratory activities in the Gongola Basin with the aim of further growing our oil and gas reserves and taking advantage of low oil prices which make inland exploration cost effective.
Dr Baru also lauded the management of Media Trust Limited for its factual reportage of the corporation’s activities and operations
“You have remained a leading voice in the fight against unwholesome activities of crude oil theft, pipeline vandalism and sabotage of the nation’s oil and gas installations. We will like to see this gesture continue” he stated.
Speaking earlier, the Chairman of the Board of Directors, Media Trust Limited, Malam Kabir Yusuf, stated that the visit was to strengthen the existing cordial relationship between the two organisations and to also thank the NNPC management for the good works it was doing for the country.
“We are here as stakeholders in the media and the economy to say that we appreciate the work you are doing and to also have the opportunity to have more insight into these works and to communicate it to the public,” Malam Yusuf said.
By Aduragbemi Omiyale
One of the paint makers in Nigeria, Premier Paints Plc, is currently in talks with a new investor, Xenergi Limited, for the purchase of 51 per cent stake in the company.
Xenergi Limited intends to acquire shares of Clover Global Resources Limited and TGHL Capital Limited in the organisation.
Business Post gathered that the new investor will buy 39.02 per cent from Clover Global Resources Limited and 15.20 per cent from TGHL Capital Limited.
The deal, according to a regulatory notice issued on Tuesday on the Nigerian Exchange (NGX) Limited, will involve about 63 million shares of Premier Paints.
At the current share price of the paint producer, this should be about N630 million as it closed at N10.00 per unit on NGX on December 16, 2025.
“Subject to obtaining required regulatory approvals, the transaction is expected to close before January 31, 2026.
“The company will continue to inform the public of the progress of the transaction,” the disclosure signed by the company secretary, Alozie Nwokoro, said.
By Adedapo Adesanya
The Naira was flat against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Tuesday, December 16, retaining the previous closing value of N1,451.82/$1.
In the same vein, the local currency saw no movement against the Pound Sterling and the Euro in the spot market during the session at N1,943.98/£1 and N1,705.74/€1, respectively.
Also, the Nigerian Naira remained unchanged in the black market yesterday at N1,475/$1 and was N1,460/$1 at the GTBank forex counter.
The Central Bank of Nigeria (CBN) has strengthened US Dollar supply with $250 million to authorised dealer banks at the official window cumulatively as foreign portfolio investors, exporters and non-bank corporate supply dripped.
The spread between official and other non-regulated markets decreased to N30.59$/1 from N44.57/$1, from the previous week, research subsidiary of Coronation Merchant Bank Limited said in a report.
FX analysts said foreign exchange inflows through the Nigerian Foreign Exchange Market decreased to $716.3 million from $844.70 million in the previous week , a 15 per cent drop in a week.
Foreign portfolio investors accounted for the highest share of inflows at 32.98 per cent, followed by exporters at 30.84 per cent, the CBN (17.36 per cent), Non-bank Corporates (16.94 per cent), others (0.72 per cent) and Individuals (0.63 per cent).
On Monday, Nigeria’s headline inflation rate eased to 14.45 per cent in November 2025, down from 16.05 per cent recorded in October, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS), representing a decrease of 1.6 percentage points month-on-month and marks a significant moderation compared to the same period last year.
As for the cryptocurrency market, there was some recoveries after overall capitalization falling below $3 trillion for the third time in a month. Large-cap assets, particularly those with Exchange Traded Fund (ETF) exposure, are experiencing selling pressure as institutional investors reassess risk.
Ripple (XRP) appreciated by 1.5 per cent to $1.92, Litecoin (LTC) expanded by 1.5 per cent to $78.91, Dogecoin (DOGE) rose by 0.8 per cent to $0.1308, Solana (SOL) went up by 0.4 per cent to $127.60, Binance Coin (BNB) grew by 0.3 per cent to $865.40, and Bitcoin (BTC) gained 0.2 per cent to sell at $86,735.17.
On the flip side, Cardano (ADA) depreciated by 1.0 per cent to $0.3802 and Ethereum (ETH) slumped by 0.4 per cent to $2,935.85, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) were flat at $1.00 each.
By Dipo Olowookere
A marginal 0.01 per cent rise was recorded by the Nigerian Exchange (NGX) Limited on Tuesday. This was different from the flattish mode of the market the previous day.
Investor sentiment remained bullish as Customs Street finished with 31 price gainers and 26 price losers, implying a positive market breadth index.
Aluminium Extrusion topped the gainers’ log after it improved its price by 10.00 per cent to N9.35, Guinness Nigeria appreciated by 9.98 per cent to N263.40, Multiverse expanded by 9.95 per cent to N12.15, MeCure Industries also soared by 9.95 per cent to N45.85, and Sovereign Trust Insurance advanced by 9.89 per cent to N4.11.
Conversely, Haldane McCall led the losers’ chart after it shed 9.93 per cent to settle at N3.72, Veritas Kapital lost 9.09 per cent to close at N1.60, LivingTrust Mortgage Bank also declined by 9.09 per cent to N3.50, and Linkage Assurance depreciated by 5.71 per cent to N1.65.
During the trading day, the All-Share Index (ASI) went up by 21.23 points to 149,459.11 points from the previous day’s 149,437.88 points and the market capitalisation increased by N14 billion to N95.281 trillion from N95.267 trillion.
Yesterday, traders transacted 1.0 billion equities for N21.8 billion in 23,701 deals compared with the 553.1 million equities valued at N13.3 billion traded in 28,907 deals on Monday, representing a decline in the number of deals by 18.01 per cent, and a surge in the trading volume and value by 80.80 per cent and 63.91 per cent apiece.
Access Holdings traded 385.8 million stocks worth N7.7 billion, Champion Breweries transacted 111.8 million shares valued at N817.8 million, Sterling Holdings exchanged 85.5 million equities for N589.9 million, FCMB sold 74.7 million shares valued at N791.5 million, and First Holdco transacted 51.9 million equities worth N1.8 billion.
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