Business

NEITI Set to Release Probe Report on 198 Extractive Companies and Agencies

Published

2 years ago

August 27, 2024

Photo source: Google

The Nigerian Extractive Industries Transparency Initiative (NEITI) is preparing to release a comprehensive report on its ongoing investigation into 198 extractive companies and government agencies.

This probe is part of the organization’s nationwide reconciliation and validation exercise for revenues collected in 2022 and 2023.

NEITI’s Executive Secretary, Dr. Orji Ogbonnaya, made this announcement through a statement issued by the agency’s spokesperson, Mrs. Obiageli Onuorah, on Monday.

Dr. Ogbonnaya shared these details during a meeting with stakeholders from Civil Society Organizations (CSOs) in Abuja, emphasizing the importance of transparency in the extractive sector.

According to him, the 198 entities under scrutiny are spread across both the oil and gas sector, as well as the solid minerals industry. Of these, 63 companies in the oil and gas industry have been found to meet the materiality threshold, defined as making a minimum royalty payment of $5 million.

Meanwhile, 135 companies from the solid minerals sector have met the criteria, requiring a minimum payment of N6 million in royalties.

Dr. Ogbonnaya further revealed that the 2022/2023 reports on the oil, gas, and solid minerals industries are nearing completion, with the reconciliation process in its final stages.

The findings of this report are expected to provide critical insights into the operations of the extractive sector, fostering greater transparency and accountability in the management of Nigeria’s natural resources.

Business

Dangote Refinery Increases Petrol and Diesel Prices

Published

2 weeks ago

March 10, 2026

Ese Ohwofa

It has been noted that there is now an increase in fuel all around Nigeria, from … to 1000 plus in fuel stations.

It was also noted that Dangote Petroleum Refinery increased the price to 1,175 per litre and diesel has been increased to 1,620 per litre.

This new spike in fuel increase has caused Nigerians to lament widely, wondering why this change happened all of a sudden.

Business

10 Businesses to Invest in 2026: Best Sectors, Stocks, and Companies to Watch

Published

1 month ago

February 17, 2026

Ese Ohwofa

MTN Nigeria Communications Plc (MTNN) – Strong telecom growth and 5G expansion.
Dangote Cement Plc (DANGCEM) – Leading cement maker benefiting from infrastructure demand.
Guinness Nigeria Plc (GUINNESS) – Consumer stock with solid turnaround potential.
Okomu Oil Palm Plc (OKOMUOIL) – Agriculture stock tied to palm oil demand.
Seplat Energy Plc (SEPLAT) – Energy player with gas and oil sector exposure.
Zenith Bank Plc (ZENITHBANK) – Tier-1 bank with strong financial performance.
Guaranty Trust Holding Company Plc (GTCO) – Leading bank with diversified revenue streams.
Presco Plc (PRESCO) – Palm oil producer with export and dividend potential.
NASCON Allied Industries Plc (NASCON) – FMCG stock with strong fundamentals.
Aradel Holdings Plc (ARADEL) – Growing energy sector stock with upstream exposure.

Business

BATNF, NYSC Collaborate to Promote Agribusiness Among Corps Members

Published

2 months ago

January 28, 2026

Ese Ohwofa

It has been noted that the National Youth Service Corps (NYSC) and British American Tobacco Nigeria Foundation (BATNF) plan to renew their partnership in agribusiness.

The new project is to involve youth in the agriculture business, widen their horizons, and educate them about the agritech sector.

The general manager shared that “The foundation is not only providing grants but also building a system of mentorship, structure, and support that enables corps members to see agribusiness as a serious enterprise pathway.” The plan is to use the NYSC platform to engage youths.