Business
NDCCITMA will transform Niger Delta economy – Eno
Governor Umo Eno of Akwa Ibom has expressed the hope that the Niger Delta Chamber of Commerce, Industry, Trade, Mines & Agriculture (NDCCITMA) will facilitate the transformation of the economy of the region.
He said this on Wednesday in Uyo during a one-day sensitisation of the people of the state on the Establishment of NDCCITMA.
Eno, represented by the Commissioner for Trade and Investment, Mr John Etim, said that the region had been wrongly portrayed as mono-economy, in spite of its huge resources.
“For too long, the Niger Delta has been erroneously portrayed as a mono-economy, which boasts only of crude oil deposit with negative fallout, such as environmental degradation, ravaging poverty, among others, but our region is much more than that. “We are blessed with abundant human and mineral resources far beyond crude oil.
“In fact, we are the major producers of oil palm and other cash crops in this country. “The region can be both self-sufficient and a net exporter of palm oil and many other food items.
“The NDCCITMA initiative is not only desirable but imperative for the speedy transformation of our region,” Eno said. He commended the Niger Delta Development Commission (NDDC) for seeking the synergy for the implementation of the initiative for the betterment of the people.
In a remark, the Managing Director of NDDC, Dr Samuel Ogbuku, said that the objective of NDCCITMA is to stand in the gap between NDDC and entrepreneurs in the region.
He further said that the chamber would provide the long sought support to sustain the business of those who cannot meet the stringent conditions of financial institutions.
Ogbuku, represented by the state Representative on the Board of NDDC, Mr Abasiandikan Nkono, said that the activities of the chamber would influence development in the region.
“The establishment of NDCCITMA will positively influence the development of a robust transport system, manufacturing, merchandising, mining, marine, and food security for our families.
“We intend to work with the people and bring down the cost of food to affordable level to improve the health of our people,” he said.
The Chairman of NDCCITMA, Mr Idaere Ogan, described the chamber as a forum where people could seek genuine guidance and assistance in developing their businesses and scaling up capabilities. Ogan also said that the chamber would boost trade and commerce from the nano business level through the micro, small and medium entreprises to the large organisation.
He said, “We are poised to work with our development partners, the NDDC, to solve the food problem of the region, enable manufacturing of goods, develop skills and build capacity within the region.”
He called on all the chambers of commerce in the region, business communities, professional associations, governments and individuals to prepare to work with NDCCITMA for accelerated development of the region.
Source: Vanguard
Business
UPDATE: Malindi Court Declines to Halt Dangote Refinery Launch in Lamu
The Malindi Environment and Land Court has declined to issue orders stopping the launch and construction of the planned KSh 2 trillion Dangote Oil Refinery in Lamu County.
In a ruling made public on Monday, 28 September 2026, the court instead directed both parties to maintain the status quo on the disputed land in the Hindi/Manda Magogoni area until the matter is heard on 14 October 2026.
The case was brought by 133 residents of Chandavai. They claim the land is their ancestral heritage, where their families have lived and farmed for generations. The residents say they do not oppose development but want their land rights recognised before the project proceeds.
The court ordered the government and other respondents to file their responses within 14 days. The application is scheduled for hearing on 14 October 2026.
The groundbreaking ceremony for the refinery is expected to go ahead as planned on Wednesday, 30 September 2026. While the court has not halted the ceremony at this stage, the status quo order means activities on the disputed site may be restricted pending the October hearing.
Business
Oil Rises As US Rejects Iran Proposal
Iran said it is waiting for a definitive US response to its seven-day proposal to reopen the strait and other demands, adding that it will not ease its conditions after Trump rejected Tehran’s latest plan.
Brent crude climbed above $106 per barrel on Monday, recovering losses from the previous session after President Donald Trump rejected Iran’s latest proposal to reopen the Strait of Hormuz, raising concerns that the restoration of oil flows through the critical waterway could face further delays.
Trump also said Tehran had overplayed its hand and expects negotiations to resume this week.
Meanwhile, Iran said it is waiting for a definitive US response to its seven-day proposal to reopen the strait and other demands, adding that it will not ease its conditions after Trump rejected Tehran’s latest plan.
Elsewhere in the Middle East, tensions remain high as Saudi Arabia intercepted Houthi drones heading toward Riyadh, along with a missile targeting Khamis Mushait in the south.
Alerts were also issued in Abha and Jazan, where Aramco operates energy facilities.
In the US, Trump is considering a ban on diesel exports as part of efforts to address elevated fuel prices.
Business
NGX Debuts Invest WhatsApp Channel
The channel provides investors with an additional, convenient way to participate in public offers.
Nigerian Exchange Group (NGX Group) has expanded access to its NGX Invest platform with the launch of a WhatsApp subscription channel.
The channel provides investors with an additional, convenient way to participate in public offers.
Investors can begin the subscription process by sending “Invest” to NGX Invest on WhatsApp at +234 812 731 9521.
They can then follow the prompts to view eligible offers and complete the required subscription steps without downloading a separate application.
As part of the process, investors will select a stockbroker through whom their application will be processed, ensuring that brokers remain an integral part of the investment journey.
(VANGUARD)
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