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Category: Business

  • NNPC Foundation Wins CSR Champion Award (Health)

    NNPC Foundation Wins CSR Champion Award (Health)

    ABUJA, Nigeria (NPA) — NNPC Foundation Limited/Gte, the Corporate Social Responsibility (CSR) arm of NNPC Ltd., has been named winner of the CSR Champion Award (Health) 2025 by Independent Newspapers. The award was presented at the Silver Jubilee edition of the Independent Newspapers Awards, themed “Game Changers: Breaking Barriers and Shaping Tomorrow”, held at Eko Hotel and Suites on Saturday, April 18, 2026.

    The honour recognises the Foundation’s impact in healthcare and its broader commitment to improving lives through social investment programmes in health, education, environment, and access to energy.

    According to a statement by Andy Odeh, Chief Corporate Communications Officer of NNPC Ltd., the award follows a series of health initiatives delivered by the Foundation. These include free cataract screenings and surgeries that restored sight to over 6,000 Nigerians, cancer and glaucoma interventions, medical outreaches to underserved communities, renovation and furnishing of three wards with 100 beds at the National Orthopaedic Hospital, Igbobi, sponsorship of heart surgeries, and provision of dental health accessories to children in special schools.

    Managing Director of NNPC Foundation, Emmanuella Arukwe, described the recognition as a validation of the Foundation’s work and the trust placed in it by Nigerians. “It speaks to the resilience of the communities we serve, the dedication of our team, and the strength of partnerships that have enabled us to do meaningful work in health, education, environmental sustainability, and access to energy,” she said.

    Arukwe added that the achievements were made possible through the leadership and support of NNPC Ltd.’s management team, whose backing has strengthened the Foundation’s capacity to deliver social investments nationwide. “We receive this award with gratitude and with a renewed sense of responsibility to do more and reach further across the country,” she noted.

    NNPC Foundation Limited/Gte reaffirmed its commitment to advancing health interventions that improve outcomes and contribute to national development.

  • WTO, ITC launch WEIDE Program in Jordan to empower women entrepreneurs

    WTO, ITC launch WEIDE Program in Jordan to empower women entrepreneurs

    INTERNATIONAL (NPA) — The World Trade Organization (WTO) has congratulated 46 women-led businesses in Jordan selected to benefit from the Women Exporters in the Digital Economy (WEIDE) Fund, a program designed to strengthen their participation in international trade through digital commerce. The announcement was made in Amman on April 23 at a launch event organized by the Jordan Enterprise Development Corporation (JEDCO), the program’s local partner.

    The beneficiaries were chosen from a pool of 469 applicants and will undergo a one-year program combining technical assistance, mentorship, access to international business networks, and financial support. The WEIDE Fund, launched in 2024 by the WTO Secretariat and the International Trade Center (ITC), is currently being implemented in four countries, including Jordan.

    WTO Director-General Ngozi Okonjo-Iweala, speaking virtually, said: “Digital trade is reshaping the global economy and creating new pathways for women entrepreneurs to participate in international trade. Ensuring women’s participation is essential for inclusive growth and the creation of even more jobs.”

    ITC Executive Director Pamela Coke-Hamilton emphasized that the program equips women-led businesses with both finance and digital skills to scale sustainably. Jordan’s Minister of Industry, Trade and Supply, Yarub Qudah, described the initiative as part of national efforts to enhance women’s economic participation, calling it “an economic necessity.”

    Dana AlZoubi, Acting CEO of JEDCO, noted that the program provides technical support, training, and grants totaling $1.4 million. Beneficiaries are divided into two tracks: the Discovery Track, offering $5,000 grants to early-stage businesses, and the Booster Track, providing up to $30,000 for advanced firms ready to expand globally.

    Ahead of the launch, participants attended training sessions covering business development, digital trade, financial management, and soft skills such as leadership and negotiation. A pitch competition selected Hanan Aqeel, Manager of Khayrat Alsahra, to represent Jordan at an international trade fair.

    The WEIDE Fund is supported by the United Arab Emirates, the FIFA World Cup Qatar 2022 Legacy Fund, and the Kingdom of Bahrain. Besides Jordan, it is also active in the Dominican Republic, Mongolia, and Nigeria.

  • TCN commissions Ihovbor transmission lines to boost power evacuation

    TCN commissions Ihovbor transmission lines to boost power evacuation

    LAGOS, Nigeria (NPA) — The Transmission Company of Nigeria (TCN) has announced the successful commissioning of the turn-in-turn-out connections for the Ihovbor/Benin and Ihovbor/Ajaokuta 330kV transmission lines, a development expected to enhance power evacuation capacity and improve grid stability.

    According to a statement issued by Ndidi Mbah, General Manager, Public Affairs, the commissioning was completed at 19:05 hours on Wednesday, April 23, 2026. The new connections deliver the Ihovbor corridor and provide additional evacuation capacity for the Niger Delta Power Holding Company (NDPHC) and Azura Power.

    Currently, the Ihovbor/Benin transmission line is transmitting 200MW, while the Ihovbor/Ajaokuta line is transmitting 90MW.

    TCN noted that the project will strengthen power evacuation from the Ihovbor generating plant, improve reliability in the affected regions, and contribute to overall grid stability.

    The commissioning forms part of Nigeria’s broader national grid expansion plan, which aims to increase transmission capacity, reduce system collapses, and support the integration of new generation sources into the grid. With rising electricity demand across the country, projects like Ihovbor are critical to ensuring that generated power is efficiently evacuated and delivered to consumers, thereby reducing reliance on unstable distribution networks and improving overall energy security.

    The Company reaffirmed its commitment to expanding transmission infrastructure nationwide to support Nigeria’s growing electricity needs and ensure efficient delivery of power to consumers.

    Nigeria’s transmission grid currently struggles to wheel more than 5,000–6,000MW reliably, despite installed generation capacity of over 13,000MW. By 2026, transmission capacity is projected to rise to about 10,000MW, while national demand is estimated at 20,000MW — highlighting the urgent need for projects like Ihovbor to close the gap.

  • NNPC warns public against fraudulent claims on refinery scrap sales, reaffirms commitment to transparency

    NNPC warns public against fraudulent claims on refinery scrap sales, reaffirms commitment to transparency

    ABUJA, Nigeria (NPA) — The Nigerian National Petroleum Company (NNPC) Limited has alerted the public to the circulation of false information suggesting that the Company is selling scrap materials, equipment, or components from its refineries to individuals and private firms.

    In a statement issued by Chief Corporate Communications Officer, Andy Odeh, NNPC categorically denied the claims, stressing that it has not issued any request for bids, tenders, expressions of interest, or approvals for the sale of refinery assets.

    The Company disclosed that it has received reports of individuals falsely presenting themselves as NNPC representatives or agents, claiming to facilitate the sale of “scrap metals” or refinery equipment. NNPC emphasized that such persons are unauthorized and are attempting to mislead unsuspecting members of the public.

    NNPC therefore advised the public, corporate organizations, and industry stakeholders to disregard any such solicitations and exercise caution in dealing with individuals making these representations. For clarity, the Company stated that it is not conducting, nor has it authorized, any sale of scrap metals, refinery equipment, or components from any of its facilities.

    According to Odeh, any legitimate disposal of assets by NNPC will only be carried out through established and transparent processes, publicly communicated via official channels and in line with applicable regulations.

    Members of the public who encounter individuals or entities making such claims are encouraged to report the matter to law enforcement authorities.

    NNPC reaffirmed its commitment to transparency, accountability, and the responsible management of Nigeria’s energy assets.

  • FG to grant local airlines discount on debts owed aviation agencies

    FG to grant local airlines discount on debts owed aviation agencies

    ABUJA, Nigeria (NPA) — The Minister of Aviation and Aerospace Development, Mr Festus Keyamo, says the Federal Government has decided to grant domestic airlines discounts on debts owed aviation agencies.

    Keyamo said this in Abuja during a meeting with the Minister of State for Petroleum Resources (Oil), airline operators and other aviation stakeholders.

    The News Agency of Nigeria (NAN) reports that the Airline Operators of Nigeria (AON) had earlier planned to suspend flight operations and increase airfares due to the high cost of Jet A1 fuel.

    According to the minister, the percentage of the discount for domestic airlines will be determined by President Bola Tinubu.

    He said the president had directed airlines to urgently submit formal requests regarding the proposed debt relief.

    Keyamo added that the president had also approved the establishment of a committee to review multiple taxes, levies and charges imposed on domestic flight tickets.

    He said the committee was aimed at reducing the cost burden on both operators and passengers.

    The minister said the federal government intervened swiftly to prevent disruption to air travel following the operators’ warning.

    “A generous discount on debts owed to agencies such as the Nigerian Airspace Management Agency (NAMA), Federal Airports Authority of Nigeria (FAAN), and the Nigerian Civil Aviation Authority (NCAA) is under consideration,” he said.

    The Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, said a meeting would be held with oil marketers on Thursday to address pricing concerns.

    Lokpobiri was represented by the Permanent Secretary in the ministry, Mrs Patience Oyekunle.

    Speaking on behalf of AON, the Chief Executive Officer of Air Peace, Mr Allen Onyema, requested a total waiver of debts owed by airlines.

    Onyema also urged the federal government to strengthen the Bank of Industry (BOI) to enable airlines access loans at lower interest rates.

    He described the reported 300 per cent increase in aviation fuel price as abnormal and called for caution by oil marketers. (NAN).

  • Tinubu pledges stronger UK ties as British Airways marks 90 years in Nigeria

    Tinubu pledges stronger UK ties as British Airways marks 90 years in Nigeria

    ABUJA, Nigeria (NPA) — President Bola Ahmed Tinubu has reaffirmed Nigeria’s commitment to deepening economic relations with the United Kingdom, particularly in aviation and other mutually beneficial sectors, as British Airways celebrates 90 years of service to Nigeria.

    The President made the pledge on Wednesday during a meeting with a British Airways delegation led by the UK High Commissioner to Nigeria, Dr Richard Montgomery, and the airline’s Commercial Officer, Mr Colm Lacy, at the Presidential Villa, Abuja.

    Tinubu highlighted the longstanding partnership between Nigeria and Britain, recalling his recent visit to the UK and the warm reception he received from King Charles III. He described the milestone as a testament to enduring ties and assured that the relationship would continue to create opportunities for growth, investment, and shared prosperity.

    “We celebrate with you your remarkable 90 years of operation in Nigeria, and we hope to continue enhancing that relationship for a stronger and more rewarding partnership,” Tinubu said. He noted that one of his administration’s early achievements was settling outstanding liabilities owed to foreign airlines, restoring confidence in Nigeria’s aviation sector.

    British Airways’ Colm Lacy praised Nigeria as a valued market, stressing that the airline has supported trade, investment, education, and cultural exchange since 1936. He commended Nigerian aviation authorities and the Central Bank for reforms that have strengthened safety and resolved foreign exchange challenges.

    Aviation Minister Festus Keyamo added that British Airways now operates new aircraft on the London–Nigeria route and complies with government policy by serving local dishes on outbound flights.

    UK High Commissioner Richard Montgomery expressed delight at the 90-year relationship, noting that Tinubu’s recent state visit yielded significant investment agreements, including financing for the rehabilitation of Lagos Ports.

    The celebration reinforces the role of aviation in fostering economic and people-to-people connections between Nigeria and the UK, while both sides pledged to build on the historic partnership for future growth.

  • WTO DG Okonjo-Iweala celebrates Lord Nick Stern at 80, highlights trade’s role in sustainability

    WTO DG Okonjo-Iweala celebrates Lord Nick Stern at 80, highlights trade’s role in sustainability

    INTERNATIONAL (NPA) — The Director-General of the World Trade Organization (WTO), Dr Ngozi Okonjo-Iweala, has joined global leaders in celebrating Lord Nick Stern, renowned economist and Chair of the Grantham Research Institute on Climate Change and the Environment at the London School of Economics (LSE), who recently marked his 80th birthday.

    In a statement, Okonjo-Iweala described Lord Stern as one of the foremost intellectuals and practitioners who has worked tirelessly to demonstrate the compatibility of growth, jobs, and climate action through the New Climate Economy initiative.

    She also participated in a high-level panel at LSE alongside Christine Lagarde, President of the European Central Bank, and Kristalina Georgieva, Managing Director of the International Monetary Fund.

    Okonjo-Iweala noted that despite global disruptions, trade can be part of the solution to sustainability and environmental challenges. She extended her appreciation to Professor Larry Kramer, President and Vice Chancellor of LSE, for moderating the session.

    Reflecting on Earth Day, the WTO chief emphasised the role of communities worldwide in driving lasting change to make the planet more liveable. “We cannot achieve this without aligning trade to sustainability and environmental stewardship,” she said.

    Okonjo-Iweala stressed that WTO members are working together to ensure that open and fair trade accelerates a green and just transition, particularly for vulnerable populations.

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  • Court affirms FCCPC’s authority over banks, fines UBA ₦2m

    Court affirms FCCPC’s authority over banks, fines UBA ₦2m

    ABUJA, Nigeria (NPA) — Consumer rights advocacy in Nigeria’s banking sector received a major boost as the Federal High Court in Abuja dismissed a suit filed by United Bank for Africa (UBA) Plc challenging the jurisdiction of the Federal Competition and Consumer Protection Commission (FCCPC).

    In its ruling, presiding Justice James Omotosho affirmed the Commission’s statutory authority to investigate consumer complaints involving banks and other financial institutions. The court held that the FCCPC is the proper agency to handle such matters, citing Sections 1, 2, 17(e), and 104 of the FCCPC Act, 2018.

    UBA had sought to rely on Section 251(1)(d) of the 1999 Constitution and Section 65(1)(a) of the Banks and Other Financial Institutions Act (BOFIA) 2020 to argue that the FCCPC lacked jurisdiction. Justice Omotosho rejected this argument, stressing that neither BOFIA nor the Central Bank of Nigeria Act confers consumer complaint powers on the CBN.

    Consequently, the court fined UBA ₦2 million for filing what it described as a “frivolous and unmeritorious case.”

    Reacting to the judgment, FCCPC Executive Vice Chairman/CEO, Mr Tunji Bello, hailed the decision as a significant milestone for bank customers. “This ruling reinforces confidence that consumers in every sector of the economy, including financial services, are entitled to accessible channels for complaint resolution and lawful redress,” he said.

  • Shettima calls on PR professionals to foster public trust at NIPR Week

    Shettima calls on PR professionals to foster public trust at NIPR Week

    ABUJA, Nigeria (NPA) — Vice President Kashim Shettima has called on public relations practitioners in Nigeria to communicate government policies with clarity and professionalism, stressing that effective communication is vital to fostering public confidence and trust.

    Speaking on Tuesday at the 3rd Nigerian Institute of Public Relations (NIPR) Week in Kaduna, hosted by Governor Uba Sani, Shettima underscored the indispensability of public relations in governance. He warned that policies and reforms that are poorly explained often lead to public distrust and resistance.

    “As a government, we regard public relations as a strategic function of governance. It is integral to building trust, managing uncertainty, and sustaining reform,” the Vice President said. He emphasised that practitioners must not only explain what government is doing, but also why it is being done, how it serves the public good, and the role of citizens in its success.

    Shettima highlighted that reforms undertaken by President Bola Ahmed Tinubu’s administration can only succeed if citizens understand their purpose and benefits. He urged PR professionals to frame government initiatives in ways that resonate with the public, thereby strengthening democratic governance and reform outcomes.

    During the event, the Vice President also commissioned the newly built Brigadier Abba Kyari Banquet Hall at the Sir Kashim Ibrahim House (Government House), Kaduna. He commended the NIPR for its role in advancing professional standards in communication and for providing a platform to discuss the evolving responsibilities of public relations in national development.

    Shettima’s remarks reinforced the government’s recognition of communication as a cornerstone of reform. He noted that effective engagement with citizens is essential to sustaining confidence in governance, particularly at a time when Nigeria is undergoing significant economic and social transformation.

    The NIPR Week 2026 brought together practitioners, policymakers, and stakeholders to deliberate on the role of public relations in shaping public perception and strengthening national unity. The Vice President’s charge is expected to galvanise PR professionals to adopt more strategic approaches in communicating reforms and policies to the Nigerian public.

  • FCCPC warns against breach of merger rules, vows to protect public interest

    FCCPC warns against breach of merger rules, vows to protect public interest

    ABUJA, Nigeria (NPA) — The Federal Competition and Consumer Protection Commission (FCCPC) has cautioned firms, legal advisers, transaction parties, and other stakeholders against violating statutory obligations relating to mergers, acquisitions, and business combinations under the Federal Competition and Consumer Protection Act (FCCPA), 2018.

    In a statement, the Commission reiterated that it has the authority to review, approve, approve subject to conditions, or prohibit mergers and qualifying business combinations once they are duly notified. This framework, it explained, is designed to preserve fair competition, prevent harmful market concentration, and protect the public interest in Nigeria’s economy.

    The FCCPC emphasised that any transaction meeting the thresholds set out in the Notice of Threshold for Merger Notification, issued pursuant to Section 93(4) of the FCCPA, must be reported to the Commission for prior review and approval before implementation. This requirement applies to a wide range of transactions, including share acquisitions, asset acquisitions, joint ventures, and other arrangements that fall within the legal definition of a merger under the Act and relevant regulations.

    The Commission noted that the notification process enables it to assess whether a proposed transaction is likely to substantially prevent or lessen competition in any relevant market in Nigeria, or raise public interest concerns. It also supports the Commission’s responsibility to monitor market developments and maintain an informed understanding of competitive dynamics across sectors.

    FCCPC encouraged parties and their advisers to engage with the Commission at an early stage where a contemplated transaction may be notifiable. Early engagement, including pre‑notification consultations, can provide regulatory clarity, support efficient review timelines, and assist parties in meeting compliance requirements.

    The Commission stressed that failure to notify a notifiable transaction constitutes a contravention of the FCCPA and may attract administrative penalties or other enforcement action. Accordingly, it advised firms and transaction parties to take all necessary steps to ensure compliance before implementing any transaction that may fall within its merger review jurisdiction.

    Stakeholders seeking further clarification were directed to contact the Commission or visit its website. The FCCPC reaffirmed its commitment to promoting fair competition, protecting consumers, and supporting a transparent, efficient, and competitive business environment in Nigeria.