Uche Cecil Izuora Schneider Electric a, global energy technology leader has unveiled an Advanced Energy Tech mentorship programme. The programme is specifically initiated to support electrical engineering students in West Africa as they move from university into the energy and technology industries. The six-month mentorship programme, which forms part the Company’s global corporate volunteering and citizenship programme, VolunteerIn, aims to equip students with the practical knowledge, professional skills and industry insights needed to build successful careers in the evolving energy sector. The Advancing Energy Tech programme is currently underway at the University of Ibadan and Yaba College of Technology, Lagos where students are…
Author: Orientalnews Staff
Yemisi Izuora Dangote Petroleum Refinery and Petrochemicals FZE (DPRP) has raised US$2.5 billion in private financing to help fund the major expansion of its 700,000-barrel-per-day (bpd) Lekki refinery and petrochemical complex near Lagos. The refinery is not only the largest refinery in Africa, but also the world’s largest single-train oil refinery. According to Industrial Info Resources data, there are 17 projects making up the Lekki expansion worth more than US$7 billion in investment. Dangote said that initial offer was vastly oversubscribed with the US$2.5 billion “believed to be Africa’s largest publicly disclosed primary equity private placement by value.” The…
Uche Cecil Izuora Nigeria has adopted a structured meter supply model that will allow import substitution to support in-country production as it accelerates smart meter delivery to meet demand. The Power Minister Joseph Tegbe, said under the presidential meter initiative about seven million meters would be installed in the next three years as the country matches on to address tariff shortfalls. He told the media in Lagos, that through the Presidential Metering Initiative, Nigeria is moving decisively towards universal metering because consumers deserve transparency, fairness and confidence that they only pay for the electricity they actually consume. The Minister said…
Uche Cecil Izuora ExxonMobil, has reported second-quarter 2026 earnings of $14.5 billion, up from $4.18 billion in the first quarter. The increase was due to rising oil prices, record Permian basin production, the absence of operational disruptions in Kazakhstan, and a sharp turnaround in refining results offset the impact of Middle East disruptions. The operator’s second quarter showcased significant growth in upstream and downstream segments, with record Permian production and improved refining results. Second-quarter results included $2.64 billion in unfavorable identified items: $1.08 billion of impairments and $1.56 billion of other items, partly offset by $2.48 billion in favorable…
Uche Cecil Izuora Chevron Corp., Houston, has sustained production from producing assets and successfully grew its upstream production around the world by 5 per cent in the second quarter compared with early this year. The growth included record performance from the Permian basin even as the company devoted less capital to those operations. Second-quarter net profits at Chevron ballooned to $12.1 billion from $2.2 billion in 2026’s first three months. The growth was supported by higher production (including from Hess assets acquired last year), which totaled nearly 4.1 MMboe/d. But the bigger drivers of that earnings growth were average…
Uche Cecil Izuora Rising crude oil prices is positioning revenue stream of oil and gas producers for significant gains. According to Wood Mackenzie estimates, global upstream oil and gas sector could generate $495 billion in free cash flow in 2026 if crude averages $90 per barrel, more than doubling its previous forecast based on a $60 oil price assumption. The revision follows the sharp jump in crude prices triggered by the Middle East conflict, turning what had been expected to be another year of disciplined cash generation into one of the industry’s most lucrative windfalls in recent years. According…
The Standards Organisation of Nigeria (SON) has awarded Mandatory Conformity Assessment Programme (MANCAP) certificates to 23 companies for 44 products in Enugu State, reinforcing its dedication to quality assurance, consumer protection and the competitiveness of Made-in-Nigeria goods. Speaking at the ceremony on behalf of the Director General/Chief Executive of SON, Dr. Ifeanyi Chukwunonso Okeke, the Director, South East Region, Mr. Chukwuma Lemachi Aharanwa, described the MANCAP scheme as a vital mechanism for ensuring that locally manufactured products comply with Nigerian Industrial Standards. He explained that the certification boosts consumer confidence, strengthens the market position of Nigerian products and opens wider…
By Yetunde B. Oni Confidence rarely arrives before the opportunity. It arrives afterwards, once we have found the courage to begin. There is a conversation I have had, in one form or another, with many talented people over the years. It usually begins with hesitation. Someone capable and clearly gifted explains why they are not quite ready for the role, the platform, or the opportunity in front of them. They are waiting to feel certain. What I have learned, across a career in banking and through my own seasons of doubt, is that certainty is seldom the first thing…
… Balance Sheet Nears ₦5 Trillion Yemisi Izuora Sterling Financial Holdings Company Plc has released its unaudited results for the half-year ended 30 June 2026, posting broad-based growth across key performance indices. The Group’s gross earnings rose 31.5% to ₦279.6 billion over the corresponding period in 2025, led by a 33.7% jump in interest income to ₦223.6 billion as the loan book expanded and asset yields improved. Net interest income climbed 41.0% to ₦137.4 billion, while non-interest income grew by 23.3% to ₦56.0 billion, supported by notable increases in fee income and other operating income lines. Sterling Financial…
Uche Cecil Izuora BUA Foods Plc has announced its unaudited financial results for the half year ended June 30, 2026, delivering another strong earnings performance as disciplined execution, operational efficiency and prudent cost management strengthens profitability across key product categories. The Company reported Profit After Tax of ₦292.27 billion, representing a 12% increase over the ₦260.1 billion recorded in the corresponding period of 2025. Profit Before Tax grew by 14% to ₦314.9 billion, while Operating Profit increased by 13% to ₦320.5 billion, reflecting the resilience of the Company’s integrated operating model and sustained operational excellence. Revenue for the period stood at ₦765.12 billion, compared to ₦912.51 billion in…