Business
…As Production Resumes At Refineries
The Port Harcourt Refining Company (PHRC), Alesa-Eleme in Rivers State is back on stream producing at full capacity.
The disclosure was made by the Nigerian National Petroleum Corporation’s Chief Operating Officer of the refinery, Mr Anibor Kragha in a statement obtained by The Tide last Monday in Port Harcourt.
Kragha said that besides the Port Harcourt Refinery, the two other refineries in Warri and Kaduna were also back on stream. He said that the NNPC’s three refineries produced additional volumes of 4.6 million litres of kerosene and 7.7 million litres of diesel as at Monday for the Nigerian’s consumption.
The NNPC Chief Operating Officer further explained that Warri Refining and Petrochemical Company (WRPC), Kaduna Refining and Petrochemical Company (KRPC) and Port Harcourt Refining Company Limited (PHRC) were all running, adding that they are producing and they are all fully re-streamed.
He noted that efforts were also underway for the refineries to commence the production of aviation turbine kerosene otherwise known as Jet Al Fuel, stressing that NNPC is working on a holistic strategic plan to ensure the operational integrity of the refineries.
He said that the corporation would surmount its operational challenges of obsolete equipment to ensure the availability of petroleum products nationwide.
He said that the three refineries were currently producing Premium Motor Spirit (PMS) known as petrol.
Philip Okparaji
Business
Agency Gives Insight Into Its Inspection, Monitoring Operations
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.
