∆ The Group CEO of NNPC Ltd., Engr. Bashir Bayo Ojulari in a handshake with Maarten Wetselaar , CEO of Moeve Global, a global leader in sustainable mobility and energy, during his visit to NNPCL management, yesterday in Abuja.

The Nigerian National Petroleum Company Limited (NNPC) signalled transparency under new leadership after it posted a whopping N5.89 trillion revenue and N748 billion profit for April.

In a detailed release of its activities for April on Thursday, the Bayo Ojulari- led national oil company witnessed a sharp increase in its monthly total revenue, barely two months in office, unlike in the past when the state-owned firm halted the release of the monthly report years ago without any explanation.

In the report, Profit After Tax hit N748 billion, while petrol availability in its retail stations nationwide was 54 per cent.

NNPC is pleased to announce that in the month under consideration, the total revenue of the company reached N5.89 trillion.

The report also states that NNPC’s statutory payments to the federal government for Q1 of 2025 totalled N4.225 trillion, while plans are underway to make significant investment commitments this year, with four major Final Investment Decisions, FIDs, expected before the end of 2025.

The new NNPC leadership was given a $60 billion investment target by 2030, an oil production goal of 2 million barrels daily by 2027 and 3 million daily by 2030, by President Tinubu.

Besides, the monthly report highlights the company’s operational performance, financial results, and strategic initiatives aimed at boosting Nigeria’s oil and gas production and proving its record of transparency.

The four projects slated for FID by the fourth quarter, Q4, OML 102, Crude Oil Production Expansion Project, OML 29, Gas Development Projects, OMLs 30 and 42, and Brass Fertiliser Project, 2025, include the Ntokon Development Project in the oil mining lease.

…..Unveiled on Democracy Day, the initiative titled Beyond Education, represents a decisive step towards building the country’s future leaders by dismantling the barriers that keep millions of Nigerians from accessing quality, future-focused learning.

Sterling Bank, has announced an over two billion naira (N2 billion) commitment for fully-funded private university scholarships for young Nigerians.

Unveiled on Democracy Day, the initiative titled Beyond Education, represents a decisive step towards building the country’s future leaders by dismantling the barriers that keep millions of Nigerians from accessing quality, future-focused learning.

This is one of the largest private sector investments ever made in a single Nigerian tertiary institution.

It extends Sterling’s longstanding commitment to the HEART sectors: Health, Education, Agriculture, Renewable Energy, and Transportation.

The bank has deployed over half a trillion naira in financing and development programmes across these critical areas.

“Progress is not a spectator sport,” said Abubakar Suleiman, Chief Executive of Sterling Bank.

“While others talk about Nigeria’s potential, we are actively investing in it. These scholarships are direct investments in the architects of our future.

We are funding the education of future leaders who will build the companies, systems, institutions and solutions Nigeria needs to thrive.

”The Sterling Beyond Education programme will fully sponsor 600 students to study high-impact fields such as Technology, Finance, Sales, and Public Health.

It is open to young Nigerians from all 36 states and the FCT, with a merit-based and inclusive admissions process.

Candidates can nominate themselves or be nominated by others, and final selection will be determined through a public voting process open exclusively to Sterling account holders.

“This is what inclusive investment looks like,” said Obinna Ukachukwu, Growth Executive leading the Retail & Consumer Banking Directorate at Sterling Bank.

“This initiative goes beyond access to education, it’s access to a future. Education remains the most valuable asset anyone can have, and we’re proud to stand behind young Nigerians as they claim it.

”The pilot programme is in partnership with Miva University, founded by renowned tech entrepreneur Sim Shagaya.

Fully accredited by the National Universities Commission, Miva is redefining higher education in Africa with scalable, affordable, and flexible programs tailored to the demands of the digital economy.

The programme also reflects Sterling’s advocacy for organisations to shift from short-term philanthropy to long-term ecosystem development.

With deep investments in digitised healthcare, school financing, agricultural cooperatives, solar energy, and low-cost transport systems, Sterling is building pathways to inclusive prosperity.

“We’re moving beyond charity,” Mr Suleiman said. “This is about building systems that last and it is much bigger than hundreds of scholarships. It’s about the future those brilliant young minds will build for our country.”

Nominations are now open at www.sterling.ng/FUTURE. As Africa’s youth population continues to grow, initiatives like Beyond Education may point to a new blueprint for private sector leadership, one where impact is measured not just in profit, but in people empowered.

Justice Lewis Allagoa of the Federal High Court in Lagos has ordered parties in the ongoing legal dispute over the sale of Lafarge Africa Plc to Chinese firm Huaxin Cement Ltd to maintain the status quo pending the outcome of an appeal.

The order followed the filing of a Notice of Appeal by Lafarge Africa, challenging the court’s earlier decision that dismissed its objection to jurisdiction.

The suit was instituted by Strategic Consultancy Ltd, a Nigerian firm and shareholder in Lafarge Africa, seeking to halt what it called the “surreptitious” divestment of Lafarge’s 83.81 percent stake by the Holcim Group—a Swiss multinational and Lafarge’s parent company.

Strategic Consultancy is asking the court to determine whether the transaction violates Nigerian corporate and investment laws, including the Companies and Allied Matters Act (CAMA) 2020, the Securities and Exchange Commission (SEC) Act, and the Nigeria Investment Promotion Commission (NIPC) Act—particularly in relation to minority shareholder rights and foreign ownership regulations.

During the proceedings, Lafarge Africa’s counsel, Mr. Babatunde Fagbohunlu, SAN, informed the court that the appeal had already been filed, and that records of proceedings had been transmitted to the Court of Appeal, along with an application for a stay of proceedings.

(ThisDay)