Business

EDITORIAL: Austin Avuru at 68 and the unfinished Nigerian oil story   As Austin Ojunekwu Avuru turns 68 on August 17, Nigeria’s oil and gas industry has more than a birthday to mark. His career offers an opportunity to examine the progress—and unfinished business—of Nigeria’s indigenous petroleum industry. From the Nigerian National Petroleum Corporation, NNPC,

Abia tenancy law caps agents’ commission at 5% — Spaces for Change   Spaces for Change (S4C) has commended the Abia State House of Assembly for passing the Abia State Property and Tenancy Regulatory Authority Bill 2026 (H.A.B 34), describing the legislation as a major step towards creating a more equitable and regulated housing market

SBM Offshore Repurchases 140,016 Shares in One Week as €227m Buyback Programme Nears Halfway Mark   By Udeme Akpan SBM Offshore has repurchased 140,016 of its shares for approximately €4.48 million during the five trading days between July 30 and August 5, 2026, as the global offshore energy infrastructure company continues the execution of its

Otti pledges Abia’s readiness to partner REA on renewable energy projects   Abia State Governor, Dr. Alex Otti, has expressed a strong commitment to partner with the Rural Electrification Agency (REA) to fast-track renewable energy projects across the state, admitting that it was unacceptable for Abia to lag behind given its vast potential. Receiving a

Nigeria Defies Africa’s FDI Slump, But Continent Loses Ground in Global Investment Race By Eyo Nsima Nigeria emerged as one of Africa’s strongest investment performers in 2025, even as the continent suffered a sharp decline in foreign direct investment (FDI), underscoring both the country’s renewed appeal to investors and the broader challenge of Africa’s shrinking

Afreximbank launches $50,000 create-thon to unlock Africa’s creative economy   The African Export-Import Bank (Afreximbank), in partnership with pan-African technology company Gebeya, has launched the CANEX Create-thon 2026, a continent-wide initiative aimed at accelerating Africa’s creative economy by equipping artists, filmmakers, musicians and game developers with funding, digital tools and technical support. The initiative, unveiled

Perenco to Highlight Africa-Wide Oil, Gas Expansion at AEW 2026 Independent energy company Perenco will showcase its expanding investments across Africa’s upstream oil and gas sector at the African Energy Week (AEW) 2026, underscoring the growing role of indigenous and independent operators in strengthening the continent’s energy security and industrial development. Perenco has confirmed its

From classroom to communities: How “Path to follow” is rebuilding morals and character for national transformation By Bonny Alaneme Nigeria’s greatest asset is its people. But technical knowledge without character and civic responsibility cannot deliver sustainable development. The Path to Follow – Basic Morals and Civic Knowledge Project is a national intervention designed to deliberately

169 Proposals from Nigerian Universities, Polytechnics, Others Target NASENI Research Commercialisation Grant Programme About 169 proposals from Nigerian institutions including universities, polytechnics, and research institutes spread across Nigeria’s six geopolitical zones have entered for the NASENI Research Commercialization Grant Programme (NRCGP). The programme, an initiative of the National Agency for Science and Engineering Infrastructure (NASENI),

Middle East conflict raises electricity cost risks for African nations reliant on imported LNG – IEA   The conflict in the Gulf region and the resulting disruption to liquefied natural gas (LNG) shipments through the Strait of Hormuz are expected to increase electricity costs and heighten energy security concerns for several African countries that depend