Sunday, October 19, 2025
25.1 C
Lagos

Business

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

Nigeria’s foremost advertising leader and Chairman of Troyka Holdings,...

Zenith Bank, NEM, Seplat, AIICO, Dangote Cement, First HoldCo Recognised as Nigeria’s High-Performing Companies

L-R:    Michael Ani, Manager, Investor Relations, Dangote Cement; Oluseyi...

Finance Min, Wale Edun, to Keynote FiBOP Annual Confab Oct 18

The Honourable Minister of Finance and Coordinating Minister of...

Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

Niteon, one of Nigeria's largest digital export marketplaces, has...

FG Boosts MSME Financing with NCGC Initiative

In a bid to boost economic growth and development,...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

The Director General of the Securities and Exchange Commission...

ISSB-Aligned Disclosures Will Lower Capital Costs, Attract Global Investors — SEC

The Securities and Exchange Commission (SEC) has unveiled plans...

SEC DG to Cadets:  Invest Early, Long Term to Create Wealth

Graduating Cadets of the Nigerian Defence Academy (NDA) have...

SEC DG: Accountability, Transparency will Boost Investor Confidence in Capital Market

The Director General of the Securities and Exchange Commission...

SEC DG: Digital Assets Represent $10tn Opportunity by 2030

The Director General of the Securities and Exchange Commission...

Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating...

Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

L-R: Managing Director, Leadway Assurance, Gboyega Lesi; Publisher, BuisnessDay...

Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has...

Sovereign Trust Insurance Celebrates 2025 Customer Service Week

Sovereign Trust Insurance Plc has been actively involved in...

Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

Leadway, one of Nigeria’s foremost non-banking financial services and...

Business

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

Nigeria’s foremost advertising leader and Chairman of Troyka Holdings,...

Zenith Bank, NEM, Seplat, AIICO, Dangote Cement, First HoldCo Recognised as Nigeria’s High-Performing Companies

L-R:    Michael Ani, Manager, Investor Relations, Dangote Cement; Oluseyi...

Finance Min, Wale Edun, to Keynote FiBOP Annual Confab Oct 18

The Honourable Minister of Finance and Coordinating Minister of...

Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

Niteon, one of Nigeria's largest digital export marketplaces, has...

FG Boosts MSME Financing with NCGC Initiative

In a bid to boost economic growth and development,...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

The Director General of the Securities and Exchange Commission...

ISSB-Aligned Disclosures Will Lower Capital Costs, Attract Global Investors — SEC

The Securities and Exchange Commission (SEC) has unveiled plans...

SEC DG to Cadets:  Invest Early, Long Term to Create Wealth

Graduating Cadets of the Nigerian Defence Academy (NDA) have...

SEC DG: Accountability, Transparency will Boost Investor Confidence in Capital Market

The Director General of the Securities and Exchange Commission...

SEC DG: Digital Assets Represent $10tn Opportunity by 2030

The Director General of the Securities and Exchange Commission...

Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating...

Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

L-R: Managing Director, Leadway Assurance, Gboyega Lesi; Publisher, BuisnessDay...

Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has...

Sovereign Trust Insurance Celebrates 2025 Customer Service Week

Sovereign Trust Insurance Plc has been actively involved in...

Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

Leadway, one of Nigeria’s foremost non-banking financial services and...

Kyari Seeks Academia-Industry Collaboration for Energy Sufficiency, Sustainability

The GCEO, NNPC Limited, Mr. Mele Kyari honoured with the Obafemi Awolowo University’s Faculty of Science Excellence and Innovation Award by the Vice Chancellor, Prof. Adebayo Simeon Bamire, during the GCEO’s Lecture titled, “Energy Security, Sustainability and Profitability in Nigeria: Advances, Challenges and Opportunities,” organised by the Faculty of Science of the 

University in Ile-Ife, Osun State.

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mr. Mele Kyari has called for collaboration between the academia and the Oil & Gas Industry towards addressing the challenges of energy sufficiency and sustainability.

Kyari made this call while speaking as a Guest Lecturer during the 2024 Faculty Lecture titled, “Energy Security, Sustainability and Profitability in Nigeria: Advances, Challenges and Opportunities,” organized by the Faculty of Science of the Obafemi Awolowo University (OAU), Ile-Ife, Osun State, on Wednesday.

In his lecture, Kyari highlighted the important role academic communities, such as the prestigious OAU, play in safeguarding national energy security through research and collaboration with the industry.

While pointing out the challenges hindering energy security in Nigeria to include rapid population growth, pipeline vandalism, and crude oil theft, Kyari identified energy conservation, diversification, and efficiency measures as major avenues for enhancing energy security.

Addressing the projected rapid population growth, Kyari harped on the importance of finding solutions to ensure sustainable energy security for the benefit of current and future generations.

He underscored the intensified competition for vital resources and urbanization drive, which would lead to a doubling of Nigeria’s energy demand by 2050.

On the challenges posed by pipeline vandalism and crude oil theft, the GCEO observed that the issues have impacted NNPC Limited’s operations, stressing that the establishment of a command-and-control center has aided the detection and destruction of illegal refinery sites, removal of illegal connections, thereby addressing vandalism across operating corridors since 2021.

“The centre provides livestreaming of surveillance data to security forces, contributing to the detection and destruction of over 5,686 Illegal Refinery (IR) sites and the removal of 4,480 Illegal Connections (ICs) from 2021 to the present,” the GCEO added.

Acknowledging the severity of vandalism and oil theft, Kyari hinted at a strategic shift, focusing on increased products trucking and storage in underground tankages at NNPC filling stations nationwide.

He highlighted NNPC Limited’s expanded retail assets, making it the largest single downstream company in sub-Saharan Africa after acquiring OVH retail stations and associated downstream infrastructure in 2021.

While underscoring NNPC Limited’s transformation into a fully commercial limited liability energy company following the passage of the Petroleum Industry Act in 2021, Kyari said the removal of fuel subsidies has allowed the Company to play a more active commercial role, ensuring profitability and delivering greater value to Nigeria’s growing population.

Hot this week

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating...

Stanbic IBTC Bank, LOXEA BYD forge alliance for Electric Vehicle Financing

In a strategic move to advance Nigeria’s shift toward...

CBN, Bank of Angola Sign MoU on Technical Co-operation at IMF/World Bank Meeting

In an effort to enhance bilateral cooperation and technical...

NBS: Nigeria’s Inflation Falls to 18.02% in September, Lowest Level in Three Years

Nigeria’s headline inflation rate fell for the sixth consecutive...

NUPEMCO Marks 2025 CSW with Nationwide Pension Awareness Activities, Huawei-Supported National Essay competition

The Nigerian University Pension Management Company (NUPEMCO) celebrated the...

Topics

Minister of Power Commends Savannah for Contribution to Growth of Nigeria’s Energy Sector

L-R: Chief Executive Officer, Income Electrix Limited, Matthew Edevbie;...

‘NCC Not Disqualifying Nigerians Below 18 From Getting SIM’

The Nigerian Communications Commission (NCC) would like to draw...

Non-profit Employees Lack Confidence in Retirement Planning

According to a study released by the TIAA-CREF Institute...

BudgIT Tasks Buhari on N13tr Fuel Subsidy Corruption in 13 Years

To the detriment of socio-economic developments, Nigeria has spent...

Law Union, WAPIC Losses Drag Insurance Index Down by 0.8%

  A report by Afrinvest Research says sustained losses yesterday...

Maersk Sets Net Zero CO2 Emission Target by 2050

A.P. Moller -Maersk aims at having carbon neutral vessels...

REPORT: Supply Chains Must Change to Support Global Energy Demand

The development of new, unconventional energy sources, such as...

Sterling Bank Alleges Exploitation of National Assembly, Police Force CID in Business Dispute

Sterling Bank Limited, has petitioned the Inspector General of...
Exit mobile version