Uche Cecil Izuora Nigeria exported about 33.23 million barrels of crude oil to the United States of America, between January and August 2025. The value of the export is estimated at $2.57 billion to earning the country Africa’s largest exporter of crude oil to the United States. This development underscores growing relevance in the U.S. energy supply chain even as its domestic refining capacity expands and reshapes regional oil flows. Data released by the U.S. Mission show that between January and August 2025, Nigeria shipped 33.23 million barrels of crude oil to the United States, valued at about $2.57…
Author: orientalnewsng
By Prof. Lere Baale For decades, Africa’s pharmaceutical markets have lived in the long shadow of multinational drugmakers. Across Nigeria, Kenya, Ghana, South Africa, and much of Francophone Africa, market leadership, pricing power, hospital procurement preferences, and even perceptions of quality were mainly shaped outside the continent. Indigenous manufacturers existed—but mostly at the margins, constrained by structural rather than capability limitations. Then came a turning point many initially misread as a crisis: the gradual exit or downsizing of global pharmaceutical giants from several African markets. What has unfolded since 2023—and crystallised powerfully in 2024–2025—is not decline, but realignment. At…
Agusto & Co. has assigned a “Bbb-” long-term rating to Universal Insurance Plc, reflecting the company’s long operating history, improved profitability, low loss ratio, moderate liquidity position and effective deployment of digital initiatives. The rating agency noted that Universal Insurance ability to maintain a solvency margin of 184.9 per cent, well above Agusto & Co.’s minimum threshold of 100 per cent, indicates a strong capacity to support its underwriting activities. The strong growth according to Agusto was driven by initiatives aimed at deepening relationships with customers and insurance brokers, alongside improvements in customer experience through digital platforms. It noted that…
Joseph Bakare President Bola Ahmed Tinubu has asked the Senate to approve the nominations of two new chief executives for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The requests followed the resignation of Engineer Farouk Ahmed of the NMDPRA and Gbenga Komolafe of the NUPRC. Both officials were appointed in 2021 by former President Buhari to lead the two regulatory agencies created by the Petroleum Industry Act (PIA). To fill these positions, President Tinubu has written to the Senate, requesting expedited confirmation of Oritsemeyiwa Amanorisewo Eyesan as CEO of NUPRC…
Stanley Olisa, a prominent voice in Nigeria’s communications sector, has won Corporate Communications Professional of the Year at the 2025 Lagos Public Relations Industry Gala and Awards(LaPRIGA), a leading industry platform recognising excellence in public relations and strategic communications in Nigeria. The Corporate Communications Professional Award recognises in-house communications leaders who have demonstrated measurable impact in building and protecting organisational reputation while advancing strategic objectives. Olisa, who currently leads global PR at Helpster, was shortlisted alongside senior communications leaders from top organisations— Nestlé and Nigerian Bottling Company Plc. With a decade of experience across aviation, oil & gas, tech,…
In a historic move signaling a coordinated legal and diplomatic offensive, African leaders are advancing plans to file a joint reparation claim against the United Kingdom for crimes committed during the colonial era. The push gained significant momentum at a major conference in Algiers recently, where policymakers convened to translate principle into action. The meeting, focused on having colonial-era crimes “recognized, criminalized and addressed through reparations,” directly advances a resolution passed by the African Union (AU) earlier this year. That resolution calls for justice and reparations for victims of colonialism, building on a landmark proposal at the AU’s February summit…
Uche Cecil Izuora Leading property firm, 1st Choice Properties, has designed a mobile application to eliminate property fraud and attract investors in the housing sector. The App, which is the first in Nigeria, is to save Nigerians at home and abroad seeking to invest in real estate and properties from corruption and the harmful activities of dupes. In a statement by Gbenga Agbana, on behalf of the company, said that Nigeria faces acute shortage of housing, with less than 10 per cent of Nigerians owing properties, while majority of Nigerians have no access to affordable housing. “The country’s housing…
Yemisi Izuora Stakeholders in Nigeria’s insurance sector have emphasised the critical role of resilience in navigating the challenges facing Nigeria’s insurance industry, as it enables the ability to cope with unexpected challenges. This, they emphasised at the 25th Adetunji Ogunkanmi Memorial Lecture themed “Beyond Insurance: Building Resilience, Health, and Legacy,” highlighting its importance in navigating the complexities of the insurance sector. MD/CEO of Nigeria Liability Insurance Pool, Mrs Adeyinka Adekoya, highlighted the sector’s over-reliance on corporate clients while lamenting the low penetration of insurance products in the retail market. “Resilience is the root of everything we are discussing here.…
Yemisi Izuora The Nigeria LNG has entered into negotiations with Hudong Zhonghua for mid-scale LNG carriers, signalling renewed fleet modernisation against a subdued global orderbook Under the initiative, the Nigeria LNG Ltd is negotiating three 74,000-m LNG carriers with China’s Hudong Zhonghua Shipbuilding, with options for three additional vessels, in a fresh phase of its fleet modernisation programme, according to BRL’s latest newbuilding report. The ships are expected to deliver from 2029 and will trade under Nigeria LNG subsidiary Bonny Gas Transport. The prospective contracts come against the backdrop of an LNG carrier segment that remains heavily committed on forward…