Yemisi Izuora GeoPredict AI startup has won the Nigerian Content Development and Monitoring Board (NCDMB) maiden Technology Innovation Challenge (TIC) 2026, picking N25 million prize at the final competition and award ceremony held in Yenagoa. The award was for its innovative solution with strong potential to address critical challenges in the oil and gas industry and advance the Board’s commitment to indigenous technology development and increased Nigerian Content. The TIC 2026, promoted by the Entrepreneurship and Innovation Centre (EIC) Limited, is a strategic intervention by the NCDMB to bridge the gap between research and commercialisation, providing a platform for…
Author: Orientalnews Staff
Yemisi Izuora Nigeria has recorded significant growth in petroleum products export according to report. A new report published by Vortexa Analytics, shows that seaborne petroleum product exports from Nigeria have grown seven-fold since 2023, playing an increasing role in the international market for petroleum products at a time when supplies from other areas have experienced some challenges. Underpinned by the opening of the Dangote refinery in January 2024, seaborne petroleum product shipments from Nigeria averaged 561,000 barrels per day (b/d) in the second quarter of 2026 (2Q26), compared with an annual average of 79,000 b/d in 2023, according to…
Yemisi Izuora Dangote Group has expressed its willingness to offer East African countries a 30 per cent equity stake in its planned Lamu refinery. The refinery will be located on Lamu Island, off the coast of Kenya. With financing of the USD 16 billion project taking a structure of 70/30 debt to equity, the stake offered to East African countries would total around USD 1.5 billion according to Bloomberg report. The report says that Kenya has already expressed interest in investing USD 500 million for a 10% stake of the equity tranche, with Ethiopia and Rwanda expected to take…
Uche Cecil Izuora Africa’s off-grid energy market is receiving financing support following a €2 million investment support from CEI Africa to help Spark widen access to off-grid solar solutions across Africa. Africa’s decentralized systems are expected to play a major role in bringing electricity to communities beyond the reach of national grids. Announced on August 20, the funding will support new financing mechanisms and the early stages of the Spark Catalyse and Spark Connect initiatives. Nigeria has made significant progress in mini-grid expansion and has forged partnerships to support its growth potential. The Rural Electrification Agency (REA) is already…
Yemisi Izuora Heirs Holdings has opened applications for the second cohort of its Graduate Trainee Programme, offering young Nigerians an opportunity to build careers across some of Africa’s most dynamic business sectors. The pan-African investment company said the programme, which is run under the Heirs Academy, is designed to identify and develop high-potential young professionals and equip them with the skills and experience required to thrive in today’s competitive corporate environment. The six-month programme combines structured foundational learning with hands-on exposure across sectors including energy, insurance, financial services, power and real estate. To qualify, applicants must be aged 27…
Joseph Bakare President Bola Ahmed Tinubu has renewed the tenure of the Director-General (DG) of the Nigerian Television Authority (NTA) and the Managing Director (MD), of the News Agency of Nigeria (NAN) for another three-year term President Tinubu first appointed Abdulhamid Salihu Dembos of the NTA and Ali Mohammed Ali of the NAN on October 20, 2023. Their second term will begin on October 20, 2026. Salihu Dembos, from Yola, Adamawa State, is a former National President of the Radio, Television, Theatre and Art Workers Union (RATTAWU). He previously served as the executive director of marketing at the…
Uche Cecil Izuora The Nigerian Navy has dispossessed criminal elements of illegal project structure and attempt to revive illegal refining activities in Rivers State. Personnel of Nigerian Navy Ship (NNS) PATHFINDER in a swift move disrupted three illegal refining sites and recovering approximately 103,000 litres of products suspected to be illegally refined Automotive Gas Oil (AGO) around the Ohaji axis of Egbema-Ndoni Local Government Area. The operation, conducted on 22 August 2026 following credible intelligence, uncovered 12 dugout pits, sacks and reservoirs containing the suspected illegally refined products, alongside two pumping machines. The intervention comes barely a week after NNS…
The Nigerian Navy, in collaboration with the Nigerian Army, has intercepted two vehicles conveying approximately 8,500 litres of products suspected to be illegally refined petroleum products along the Ejemekuru–Obudi-Agwa axis of Imo State. The operation, conducted on 21 August 2026 by personnel of Naval Base (NB) OGUTA and the Nigerian Army, led to the interception of a tipper truck and a Toyota Hiace bus carrying about 150 bags of suspected illegally refined petroleum products. Three suspects were arrested during the operation, while some occupants of the second vehicle fled, abandoning the vehicle. The arrested suspects, vehicles and recovered products…
Moses Ofodeme The National Chairman of the All Progressives Congress (APC), Professor Nentawe Yilwatda, has condemned former Vice President Atiku Abubakar’s proposal to reverse the removal of petrol subsidy, describing it as a deeply troubling policy U-turn that raises serious questions about the opposition’s preparedness to govern Nigeria. Professor Yilwatda said Nigerians deserve more than election-season declarations. He said any proposal to restore a costly subsidy regime must be subjected to rigorous scrutiny, particularly given the enormous fiscal burden subsidies placed on public finances and the distortions they created in the economy. The APC National Chairman made the remarks…
Yemisi Izuora Market leaders and researchers at the Coronation Asset Management, have delivered a strong verdict predicting that Nigeria’s capital market is entering the second half of 2026 from a position of significantly stronger domestic participation, improved macroeconomic stability and renewed potential for international investor interest. Their position was delivered at the Coronation Media Parley 2026, which was held in collaboration with the Capital Market Correspondents Association of Nigeria (CAMCAN). The media parley, themed “Positioning for the Second Half: Market Outlook, Capital Flows and Investment Opportunities”, and brought together capital-market journalists, industry leaders and researchers to examine the forces…