Uche Cecil Izuora Nigeria has turned a strategic energy import partner to India as the country turns to Africa to secure more import of its energy needs following tensions between Israel-America and Iran. India’s energy imports from Africa are steadily increasing as the country accelerates efforts to diversify its sourcing base and reduce reliance on traditional supply routes through the Strait of Hormuz, amid ongoing disruptions linked to the West Asia conflict, reported Times of India. In response to the evolving situation, India has broadened its procurement base across multiple regions. Officials said the country is sourcing LPG from…
Author: Orientalnews Staff
Yemisi Izuora The Nigerian Content Development and Monitoring Board (NCDMB) is taking strategic measures that will reposition the Nigerian Content Consultative Forum (NCCF). The Forum offers strategic platform for facilitating information sharing and collaboration among key industry stakeholders and proposing interventions and policy changes and the implementing the new agenda aims at delivering high-impact Nigerian content outcomes. At a two-day retreat and first half of the 2026 Steering Committee Meeting of the NCCF, the Board underscored the need for a clear, actionable roadmap to reposition the forum as a more effective driver of in-country capacity development in the oil…
Francesca Odimgbe Lagos State Government has unveiled its plans of achieving a $1 trillion economy by 2052 and also projected an increase in Gross Domestic Products (GDP) to hit about N73.15 trillion in 2026 and N2.99 trillion revenue same year. The Lagos State Governor, Babajide Sanwo-Olu who was represented by the Deputy Governor, Kadiri Obafemi Hazmat revealed this during the officially launching of the Lagos Economic Development Update (LEDU) 2026. Officially unveiling the data document tagged: “Lagos Economic Outlook 2026”, the Governor said the LEDU platform has, over time, evolved beyond a mere policy document; it has become a…
Yemisi Izuora African Export-Import Bank has underwritten $2.5 billion in a $4 billion senior syndicated term loan for Dangote Petroleum Refinery and Petrochemicals. This is in a move aimed at strengthening the refinery’s financial position and supporting its long-term growth and expansion strategy. The five-year facility, arranged alongside Access Bank as co-Mandated Lead Arrangers, is designed to consolidate existing debt, optimise the refinery’s capital structure and align its financing with current operational realities. The transaction marks a significant milestone for the Dangote Refinery, Africa’s largest refining and petrochemical complex with a capacity of 650,000 barrels per…
Joseph Bakare Justice J.O Abdulmalik of the Federal High Court sitting in Abuja on Tuesday, March 31, 2026 has granted the final forfeiture of N3,444,000.,000 ( Three Billion, Four hundred and Forty Four Million Naira) and three properties linked to Salihu Nuhu Jamari while serving as the Managing Director of, Nigerian National Petroleum Corporation, NNPC’s Gas and Power Investment Company Limited, to the federal government. The properties include ; an uncompleted six bedroom semi-detached duplex, with boys’ quarters at Plot 3168, Asokoro District, Abuja, a two bedroom flat, block 2, apartment AI, block, EFG, Orsborne II, Ikoyi,…
Tunde Bakare The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, on Tuesday, March 31, 2026, re-arraigned Nadabo Energy Boss, Abubakar Ali Peters, for an alleged N1.4 billion oil fraud before Justice Ismail Ijelu of the Lagos State High Court sitting in Ikeja. Peters alongside his company, Nadabo Energy Limited, was previously standing trial before Justice C.A. Balogun of the Lagos State High Court sitting in Ikeja. However, the matter was re-assigned to Justice Ijelu, following Justice Balogun’s retirement. The defendants are being prosecuted by the EFCC on a 27-count charge bordering on…
Yemisi Izuora The Board of Directors of VFD Group Plc has proposed a final dividend of ₦0.25 per share, translating to an annualised return of 10 per cent for shareholders who participated in the December 2025 rights issue at ₦10.00 per share. Dividends remain an important component of shareholder returns, particularly for investors seeking periodic cash flow. However, for growth-oriented companies, capital appreciation often represents the primary driver of long-term value creation. The Board therefore maintains a balanced approach of rewarding shareholders in the short term, while retaining sufficient earnings to fund future growth and enhance overall valuation. When…
Joseph Bakare The Independent National Electoral Commission (INEC) has said that the recent enactment of the Electoral Act, 2026, which was assented to just weeks ago in February, has fundamentally recalibrated its statutory windows. Chairman of the Commission, Professor Joash O. Amupitan, speaking at the opening of a 3-day workshop for its personnel in Lagos, noted that the amendment to Clause 28, which reduced the mandatory Notice of Election from 360 to 300 days, has created a compressed operational environment that demands we work with unprecedented speed and surgical precision. “Consequently, the Commission has released a Revised Timetable and…
Tunde Bakare President Bola Ahmed Tinubu has offered Dr Ibrahim Ida, appointment as Chairman of the Corporate Affairs Commission (CAC) and nominated seven individuals as federal commissioners for the National Population Commission (NPC), subject to confirmation by the National Assembly. Dr Ida holds a Master’s degree in Banking and Finance from the University of Ibadan (1983) and a Bachelor of Laws (LLB) from the University of Abuja (2003). He previously served as Commissioner of Finance in Katsina State and as a Permanent Secretary in the Federal Civil Service. He was also elected to the Senate in 2017, representing Katsina…
Joseph Bakare The Christian Association of Nigeria (CAN) has urged Christians to remain vigilant against violence by their adversaries just as it condemned the killings that marred Palm Sunday celebrations in Angwan Rukuba, Gari Ya Waye area of Jos North, Plateau State. In a statement issued by its President, Archbishop Daniel Okoh, CAN described the incident as a tragic distortion of a sacred day, noting that what should have been a moment of spiritual reflection turned into one of bloodshed, as innocent Nigerians; men, women and children, were reportedly hunted and killed. The statement says armed assailants, said to…