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Gulf Of Mexico Disaster, Lesson For Nigeria – NNPC

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The Group General Manager of the Nigeria National Petroleum Corporation, Engr. Austen Oniwon, has stated the preparedness of the corporation, along with its partners, to deal with oil spillage emergencies and reduce their impacts towards ensuring a balanced ecological condition in its areas of operation.

Oniwon made the remark on Friday at the World Environment Day celebration event organised by the Environment and Safety Department in the Engineering and Technology Division of the NNPC, which took place in Abuja.

He also said the current BP oil spillage brouhaha in the Gulf of Mexico putting a lot of pressure on off-shore oil exploration, adding that it was also an opportunity for the industry to learn to forestall such incidents in the future.

He stated that, “The incident that is happening in the Gulf of Mexico is a disaster, and it can happen anywhere in the world, including Nigeria. However, it is putting a lot of pressure on off-shore oil drilling.

“It is also a challenge mankind to find a solution to such failures in future; this is the first time a failure is occurring between the downward emission and the atmosphere. It also presents an opportunity for mankind to learn and improve in its handling of such matters.

“I am sure that lessons that will be learned from the mishap will go a long way to ensure that oil exploration is made much safer and ecologically friendly in the future. Every disaster gives another opportunity for humanity to learn and I can assure you that Nigeria, and more specifically the NNPC, would be learning a lot from this case in order to ensure that

Speaking further on the theme of the event, Biodiversity – Ecosystems Management and the Green Economy, Oniwon noted that the Corporation’s Ethanol development project, which would ensure cleaner energy options for consumers in the country, was still on course.

According to him, “NNPC is taking full advantages of all the opportunities to entrench green fuel and green energy delivery in the country. Primarily, we are a hydro-carbon company, but we believe that if coal can be made clean, then oil can even be made cleaner.

“This is because coal is the worst producer of carbon-dioxide that is ever seen, while hydrocarbon contains both hydrogen and carbon and the amount of carbon-dioxide that can be seen in hydrocarbon is not as harmful as in coal technology.”

The NNPC GMD further stressed that the corporation “is doing everything to ensure that the blending comes up in such a way to ensure that the ethanol mix to oil hydrocarbon becomes a better mix for us to have cleaner oil.

“Our ethanol development project is ongoing because our people in Exploration and Technology division are working extremely hard to make sure that we achieve our objective for cleaner energy in the nearest future.

He explained that the Ethanol initiative would involve further reduction of the amount of carbon-dioxide in the hydrocarbon oil by blending it with ethanol.

The GMD noted, however, that the initiative is not undertaken 100 percent by the Corporation but with the support and partnership of some private companies.

“The reason is because we do not believe in being the sole participants, and we think private companies should be a part of this project. Also, there are a lot of logistic issues that have to be resolved. For instance, ethanol that you mix with hydrocarbon is very hydroscopic; it absorbs a lot of water from the air, so we have to be put in place infrastructure that will convince most private companies to come in invest in the project; most of the blending outfits in the country do not have the infrastructure at all.

“When this is completed, we are going to bring in ethanol and make sure that we are able to use it in such a manner that will maximize the benefit for Nigerians. We are doing a lot in that aspect.”

Also speaking at the event, the General Executive Director, Engineering and Technology of the NNPC, Mr. Billy Agha reaffirmed the commitment of corporation to responsible environmental practices.

“As a recognized leader in the oil and gas industry, we also want to set the pace in promoting environmental awareness and protection. Over the years, we have demonstrated this commitment through our corporate social responsibility practices and day to day business operations.

“The NNPC as a national oil and gas company has embarked on global warming control measures such as striving with its joint venture (JV) partners to achieve gas flare-down in all the operations,” he added.

Agha noted that the corporation is targeting the Clean Development Mechanism (CDM) projects by establishing CDM Working Groups that will project the NNPC into international Carbon Trading to reduce carbon emission.

“NNPC has also eliminated the application of Chlorofluorocarbon (CFC) based materials in its operations in compliance with the requirements of the Montreal Protocol. Furthermore, many gas utilization projects are under construction or planned to recover and utilize associated gas from oil wells that was otherwise flared or vented,” he added.

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NEM Insurance celebrates IWD 2026 with pledge to sustain support for women endeavour

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NEM Insurance Plc – the number one motor insurance provider in Nigeria, in a vibrant commemoration of the 2026 International Women’s Day (IWD), has reaffirmed its dedication to fostering an inclusive environment that empowers women to excel in their endeavours.
Speaking at the corporate headquarters in Lagos, the Chairman of NEM Insurance Plc, Tope Smart, stated that the company remains resolute in its mission to support women affairs, noting that their contributions are vital to the sustainability of the insurance industry.
Aligning with the global theme “Give To Gain,” Smart highlighted that the insurance provider views gender diversity not just as a corporate social responsibility, but as a core driver of innovation and high-level performance.
“Our commitment to female professionals at NEM Insurance is unwavering,” Smart declared. “We recognize that by ‘giving’ women the right tools, mentorship, and leadership platforms, the industry ‘gains’ unparalleled dedication and diverse perspectives that move the needle of progress.”
The multiple award winning underwriting company and one of the top three leading general insurance business companies in Nigeria, has remained focused in promoting and supporting women affairs.
Adding her voice to the celebration, the General Manager, Corporate Services, Mrs. Mojisola Teluwo, emphasized that the company’s gender-focused initiatives, such as the “She Means Business” contest, represent a practical approach to inspiring inclusion.
Mrs. Teluwo maintained that supporting women-led initiatives is a strategic investment in the fabric of society, rather than just a philanthropic gesture.
“At NEM Insurance, we believe that when a woman thrives, a family thrives, and the nation prospers,” Mrs. Teluwo stated. “The ‘She Means Business’ initiative is our way of moving beyond mere applause for women toward active, tangible support. We are proud to provide the financial catalyst needed for visionary women to turn their business aspirations into reality.”
To mark the occasion, the leadership outlined several key pillars of support:
Leadership Development: Targeted training programs to prepare more women for executive-level decision-making.
Inclusive Work Culture: Sustaining a workplace environment that balances professional growth with personal well-being.
Economic Catalyst: Providing grants and professional frameworks to help female entrepreneurs upscale their operations.
The event featured a series of internal sessions where female staff engaged in mentorship dialogues, focusing on career advancement within the evolving landscape of the Nigerian insurance sector and paint and Sip, which provided an opportunity for women to showcase their creativity.
Smart concluded by urging other industry stakeholders to prioritize the development of female talent, asserting that a more inclusive sector is a more prosperous one for all Nigerians.
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Nigeria: Profit-Taking Persists as NGX Dips Marginally by 0.2%

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Trading on the Nigerian Exchange (NGX) closed slightly lower on Wednesday as profit-taking in selected equities continued to weigh on the market, dragging key performance indicators into negative territory.
Market data showed that the benchmark All-Share Index (ASI) declined by 0.09 per cent to close at 195,898.53 points, compared with the previous session’s level, as investors booked profits in some large and mid-cap stocks.
Consequently, market capitalisation shed N107.57 billion, settling at N125.75 trillion. Despite the marginal decline, the market still maintained positive returns, with the month-to-date gain standing at 1.6 per cent, while the year-to-date return moderated to 25.89 per cent.
The downturn was largely driven by losses recorded in stocks such as Presco Plc and UAC of Nigeria Plc, both of which declined by 10 per cent, alongside Dangote Cement Plc, which slipped by 0.6 per cent.
Market breadth closed negative, reflecting bearish investor sentiment, as 40 stocks recorded losses compared with 29 gainers, translating to a market breadth ratio of 0.7 times.
Among the top gainers were NGX Group Plc and Premier Paints Plc, which appreciated by 10 per cent and 9.9 per cent respectively. Other notable gainers included Omatek Ventures Plc, Prestige Assurance Plc and HMC Allied Plc.
On the losers’ chart, Presco Plc and UAC of Nigeria Plc led the decline with 10 per cent losses each, followed by Morison Industries Plc, LivingTrust Mortgage Bank Plc and SCOA Nigeria Plc.
Sectoral performance was mixed, with the Industrial Goods index leading the gainers after advancing by 1.42 per cent, while the Banking index recorded a marginal gain of 0.04 per cent.
Conversely, the Commodities sector topped the laggards, declining by 1.30 per cent. The Insurance index fell by 0.44 per cent, the Consumer Goods index dipped by 0.43 per cent, while the Oil and Gas index edged down by 0.06 per cent.
Activity level on the exchange weakened as investors traded a total of 671.27 million shares valued at N26.13 billion in 58,792 deals.
This represents a decline of 8.61 per cent in volume, 5.18 per cent in value and 9.31 per cent in the number of transactions compared with the previous trading session.
Wema Bank Plc emerged as the most actively traded stock by volume and value, accounting for 106.36 million shares worth N2.75 billion.
Analysts said the cautious mood in the market reflects continued portfolio rebalancing by investors following the strong rally recorded earlier in the year.
They noted that trading may remain mixed in the near term as investors react to corporate earnings releases and macroeconomic development.
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Wema Bank Admits 10 Startups into Hackaholics 2026

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Wema Bank has admitted 10 Nigerian startups into the 2026 edition of its Hackaholics Accelerator Programme as part of efforts to strengthen innovation, entrepreneurship, and sustainable business growth in the country.
The 10 cohort selected startups for the 2026 edition such as; Farmslate, Ploy, Stocmed, Feest , Varsityscape, MamaAlert, Sane, Cyclex, Kieva and Loocomo were drawn from the top performing finalists of Hackaholics 6.0.
The Hackaholics Accelerator, a selective growth programme under the bank’s Hackaholics platform, is designed to help promising startups reinforce their business foundations while preparing them for scalable growth and investment readiness.
Wema Bank said the programme represents a strategic expansion of its support for innovators, moving beyond ideation and competition to hands-on startup development after six years of driving innovation through the Hackaholics initiative.
According to Wema bank, the accelerator provides founders with structured mentorship, industry guidance and access to networks required to transform innovative ideas into viable and scalable businesses.
Speaking at the programme, Managing Director and Chief Executive Officer of Wema Bank, Mr. Moruf Oseni, said the accelerator demonstrates the bank’s commitment to supporting founders beyond the early stages of innovation.
He noted that Hackaholics has evolved from a competition into a platform that showcases Nigeria’s entrepreneurial potential and technological creativity. Where he explain that the second edition of the accelerator focuses on helping founders transition from ideation to building sustainable business capable of long trem projects .
“Over the past six years, Hackaholics has grown into more than a competition; it has become a platform that reveals the depth of innovation and entrepreneurial potential that exists across Nigeria,”Oseni said.
Oseni stressed that the startups selected are representing some of the most promising solutions emerging from the Hackaholics ecosystem, and the back remain committed to helping them refine their business models, strengthen their operational foundations, and scale their impact.
Also speaking at the program , Wema Bank’s Chief Transformation Officer,Mr. Babatunde Mumuni, said the accelerator would guide founders through a structured process aimed at strengthening their operations and positioning them for sustainable growth.
As part of the programme, startups founders will participate in intensive training sessions facilitated by industry experts across key areas of business growth. Facilitators include Wema Bank executives such as Chief Transformation Officer, Babatunde Mumuni; Head of Strategy and Investor Relations, Femi Akinfolarin; Head of Data Transformation, Olamide Jolaoso; and Team Lead, Corporate Social Investment, Oluwatoyin Adetunji. While External facilitators include Managing Director of Impact Hub Lagos, Idowu Akinde; Managing Director of B4B Partners, Napa Onwusa; startup advisor and scout, Onaopemipo Dara; Google for Startups mentor, Rosemond Phil-Othihiwa; Head of Growth at Africhange, Tega Ogigirigi; and startup advisor and mentor, Ademola Adewuyi.
The Hackaholics Accelerator is also supported by Wema Bank’s broader innovation ecosystem, including IDEAx Labs, the bank’s innovation and venture platform, and its corporate venture programme focused on enabling startup growth through partnerships, infrastructure and access to capital.
Since its launch in 2019, Hackaholics has grown into one of Nigeria’s leading youth innovation platforms, attracting more than 15,000 applicants and supporting hundreds of digital solutions across multiple sectors.
Through the initiative, Wema Bank said it has disbursed more than $400,000 in funding to young innovators and startup founders nationwide.
Previous participants such as Feegor, Myitura and Bunce have emerged from earlier editions of the programme, highlighting the accelerator’s focus on nurturing growth-ready companies. Meanwhile the 2026 edition builds on this progress by supporting startups as they transition from innovation to sustainable business growth.
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