By Adedapo Adesanya

The federal government has reaffirmed its commitment to strengthening Engineering, Procurement and Construction (EPC) execution as a critical lever for timely and successful delivery of oil and gas projects.

This was stated by the Minister of State for Petroleum Resources, Mr Heineken Lokpobiri, while presiding over an EPC Steering Committee Meeting, where stakeholders reviewed progress from previous EPC roundtables and examined emerging industry perspectives shaping project execution in Nigeria.

Mr Lokpobiri said the meeting provided an opportunity to assess milestones achieved so far, align on shared priorities, and identify gaps requiring sustained attention to improve delivery outcomes across the sector.

“We reviewed progress updates from previous roundtables and discussed emerging EPC perspectives shaping the industry,” the minister said.

“The session allowed us to assess how far we have come, align on shared priorities, and identify areas requiring sustained focus to strengthen delivery outcomes,” he added.

He stressed that government remains deliberate in creating a conducive operating environment for industry players, noting that EPC effectiveness is central to achieving efficiency, cost discipline and long-term value in petroleum projects.

“Our commitment to maintaining a conducive operating environment for industry players is reflected in our efforts to provide the necessary support to enable efficient and productive operations,” Mr Lokpobiri stated.

The minister further emphasized that as Nigeria continues to promote and advocate for new oil and gas developments, EPC contractors and frameworks will play a decisive role in ensuring projects are executed on schedule and deliver optimal economic benefits.

“As we continue to promote and advocate for new projects, the role of EPC remains critical to achieving successful execution, timely delivery, and long-term value,” he added.

The EPC Steering Committee engagement forms part of ongoing government-industry collaboration aimed at de-risking project execution, accelerating investments and strengthening confidence in Nigeria’s petroleum sector.

By Aduragbemi Omiyale

The additional shares sold by Morison Industries Plc through private placement have been listed on the Nigerian Exchange (NGX) Limited.

The additional equities were brought to Customs Street last week, according to a circular issued by the Head of Issuer Regulation Department of the NGX, Mr Godstime Iwenekhai.

The company listed a total of 266,838,125 ordinary shares of 50 Kobo each at N1.50 per unit, amounting to N400.3 million, Business Post reports.

The listing of these new stocks of Morison Industries has increased the fully paid-up shares of the organisation to 1,256,000,000 ordinary shares of 50 Kobo each from 989,161,875 ordinary shares of 50 Kobo each.

“Trading licence holders are hereby notified that additional 266,838,125 ordinary shares of 50 Kobo each of Morison Industries Plc were (on) Tuesday, January 13, 2026, listed on the daily official list of Nigerian Exchange Limited.

The additional shares listed on NGX arose from the company’s private placement of 266,838,125 ordinary shares of 50 Kobo each at N1.50 per share.

“With the listing of the additional shares, the total issued and fully paid-up shares of Morison Industries Plc have now increased from 989,161,875 to 1,256,000,000 ordinary shares of 50 Kobo each,” the disclosure disclosed.

By Adedapo Adesanya

The Chartered Institute of Bankers of Nigeria (CIBN) has projected a single-digit inflation rate for Nigeria at 9.84 per cent in its wider optimistic forecast for this year.

In its 12th National Economic Outlook and Its Implication for Businesses in 2026, the bankers group saw a better metric compared to those of the Central Bank of Nigeria (CBN) and the International Monetary Fund (IMF).

The CBN and the IMF respectively see Nigeria’s economy growing at 4.49 per cent and 4.2 per cent, and the inflation rate dropping to 14.45 per cent and 18 per cent while the foreign reserves rise to N45.78 billion and $43 billion respectively this year.

However, in the outlook presentation by Professor Biodun Adedipe, the CIBN projects a 4.51 per cent GDP growth rate and a 9.84 per cent inflation rate. It forecast the exchange rate stabilizing at N1,420/$1 and the foreign reserves hitting $50.8 billion.

Business Post reports that Professor Adedipe, corporate finance scholar and founder of B. Adedipe Associates Ltd, has been presenting the national economic outlook since 12 years ago, with the firm claiming to initiate the trend in Nigeria, before even the CBN and others caught on with it.

Last week, after a revised approach Nigeria’s headline inflation eased to 15.5 per cent year-on-year in December 2025, down from 17.33 per cent in the preceding month. On a month-on-month basis, headline inflation slowed to 0.54 per cent in December, compared to 1.22 per cent in November.

Ahead of the data release, the National Bureau of Statistics (NBS) had cautioned that the rebasing exercise could result in a temporary “artificial spike” in the December inflation figures.

Mr Adeyemi Adeniran, the statistician-general of the federation, said the adjustment in the reference period, known as the base year, would affect the headline number.

“This artificial spike is a result of the base effect of December 2024, which is equated to 100, following the rebasing exercise,” Mr Adeniran said.