Business
SNEPCo Donates Science Labs To Kwara School
The Shell Nigeria Exploration and Production Company Limited (SNEPCO) has donated four ultra-modern science laboratories to Erku Secondary Commercial School in Ekiti Local Government area of Kwara State.
A statement by Media Relations Manager, Bamidele Odugbesan and made available to The Tide in Port Harcourt, yesterday, said, that this was the latest effort by the Shell deep offshore company to spread its social investments across Nigeria and boost the study of science subjects among secondary school students.
Speaking at a ceremony to hand over the laboratories to the school management, last week, Managing Director of SNEPCo, Bayo Ojulari, said, “The importance of science education cannot be overemphasised particularly in this age of rapid technological advancement. Government alone cannot do it which is why SNEPCo, its government and co-venture partners have continued to intervene in this critical area of youth development just as much as we do in the health sector.”
Represented by SNEPCo’s General Manager, Deepwater Exploration, Adedayo Adewuyi, Ojulari charged the students to take maximum learning advantage offered by the well-equipped laboratories to develop their potential in Science, Technology, Engineering and Mathematics (STEM).
Deputy Manager, Community Development, National Petroleum Investment Management Services (NAPIMS), Mrs Jolayemi Kolapo, said NAPIMS on behalf of NNPC was pleased to support SNEPCo’s focus on education across Nigeria as a proof-point of government’s commitment to people’s development in its partnership with oil and gas companies in the country.
Kolapo, represented the Group General Manager of NAPIMS, Roland Ewubare, said: “We believe that our investments should not just be in the bolts and nuts but also in the people. Assisting the government to provide quality education delivery is a crucial aspect of our investment and that is why NAPIMS is pleased to partner with SNEPCo on the delivery of this project. We, therefore, encourage the school to make judicious use of the laboratories for the intended purpose. It is only by so doing that the huge investment made in putting this project in place would be justified.”
The Kwara State Commissioner for Education and Human Capital Development, Bilikisu Oniyangi, described the laboratories as world-class standard and charged parents and teachers to ‘deliberately encourage youths to have inquisitive minds that can help in carrying out research for solving modern day challenges that pose a threat to humanity.’
Oniyangi, who was represented by Director, Human Capital Development in the ministry, Mrs Comfort Abioye, described SNEPCo’s intervention as timely, noting that ‘the project supports the policy thrust of the state governor on the improvement of quality teaching and learning of science subjects aimed at facilitating development in technology and human development’.
Susan Serekara-Nwikhana
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
