Business
Modular Refinery: Operators Form Group To Actualise Proposal
Operators of artisanal refineries in the Niger Delta have formed a group to actualised the Federal Government’s plan to establish community-based modular refineries in the area.
The Tide source reports that the group, tagged Modular Refinery Business Stakeholders’ Forum, was launched in Ughelli, Delta, Monday.
Chairman of the forum, Mr Para Ekiyes, said the forum was to forge a common front that would engage the relevant authorities on the proposal.
Ekiyes said the forum would ensure smooth take off of the policy when the government comes up with the operational guidelines.
He urged government to urgently release the guidelines, which would enable the local people to participate legally in the downstream sector.
He thanked President Muhammandu Buhari for his concern for oil-bearing communities, noting that the actualisation of the plan would give the people a sense of belonging and also reduce restiveness.
The Vice Chairperson of the forum, Mrs Adiboh Adipere, said women were key stakeholders in local refining business, being the only viable source of livelihood for the rural women.
“Our farmlands and rivers have failed to yield produce because of pollution from oil and gas exploration in the area over the years.
“We urge the government to come up with alternative business opportunities for rural women in the creeks,” she said.
Business
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Business
BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
