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Uganda Advances $4 Billion Oil Refinery Project in Partnership with UAE Firm

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Kampala — Uganda has signed agreements to move forward with its $4 billion oil refinery project, which will process 60,000 barrels of crude oil per day and include integrated storage, pipelines, and water infrastructure.

The refinery is being developed in collaboration with UAE-based Alpha MBM Investments and is expected to generate substantial employment opportunities, stimulate local industries, and reduce Uganda’s dependence on imported petroleum.

Officials say the project will position Uganda as a net petroleum exporter, enhancing the country’s energy security and supporting broader economic growth.

President Tinubu Renews Brigadier-General Marwa’s Tenure as NDLEA Chairman

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Abuja — President Bola Ahmed Tinubu has renewed the appointment of Brigadier-General Mohammed Buba Marwa (rtd) as Chairman of the National Drug Law Enforcement Agency (NDLEA) for a second five-year term, the Presidency announced on November 14, 2025.

The confirmation was made in a statement by Bayo Onanuga, Special Adviser to the President on Information and Strategy. With this reappointment, Marwa will continue to lead the agency until 2031, reinforcing continuity in Nigeria’s fight against drug trafficking and substance abuse.

Under his leadership, the NDLEA has intensified anti-drug operations and public awareness campaigns, making the agency a central pillar in the nation’s efforts to curb illegal drug activities.

 

THE ANNIVERSARY COLLECTION: Lanre DaSilva Celebrates Twenty Years of Timeless Elegance

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This November, influential designer Lanre Da Silva Ajayi (LDA) celebrates 20 years of defining fashion and creativity by unveiling her Spring/Summer 2026 (SS26) line, “The Anniversary Collection,” at a grand showcase in Lagos on November 16th.

For two decades, Lanre Da Silva Ajayi has remained a trailblazer in African fashion, celebrated for her timeless elegance and unique ability to blend vintage glamour with bold African identity. Her journey, from her 2005 debut to international features, has been a masterclass in consistency and reinvention.

The high-profile anniversary event will feature celebrities and models gracing the runway, alongside live performances by two surprise musical acts, creating an unforgettable blend of fashion and art. The production will be led by Elizabeth Elohor, Founder of Beth Model Management, whose creative direction ensures a world-class experience.

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In line with her passion for mentorship, LDA will also relaunch the Runway Renaissance, supporting three emerging designers who are redefining sustainability and craftsmanship in Africa.

Reflecting on her journey, Lanre Da Silva Ajayi shared: “Fashion has never been just fabric and thread for me. Clothes hold memories, the scent of celebrations, and the pulse of our ambitions. They are silent witnesses to who we are and who we’re becoming.”

The collection features LDA’s signature grandeur, sculptural sleeves, flowing silhouettes, and meticulous detailing. Traditional adire fabrics meet modern textures like Chantilly lace, brought to life in a rich color story: emerald green for growth, gold for triumph, and sunlit yellow for joy.

This milestone celebration is proudly supported by the Lagos State Ministry of Tourism, Arts and Culture, Johnnie Walker Blue Label, Bank of Industry, Standard Chartered Bank, Heineken, and Privé Events;  brands that share in LDA’s vision of creativity, craftsmanship, and cultural excellence.

Speaking on the brand’s partnership with LDA, Joan Odafe-Ejumedia, Marketing Manager, Reserve Scotch (Diageo South, West & Central Africa), shared:

“”Johnnie Walker Blue Label is a blend of rare craft and mastery, an enduring pursuit of excellence. This 20th Anniversary celebration is the perfect convergence of two master artisans. We are profoundly honored to partner with Lanre Da Silva Ajayi – a true visionary whose two decades of defining African couture mirror our own commitment to rarity, precision, and the creation of timeless legacies.”

Two decades later, Lanre Da Silva Ajayi remains not just a designer, but a storyteller shaping how Africa expresses beauty, confidence, and culture through fashion.

ABOUT LDA

Lanre Da Silva Ajayi (LDA) is one of Africa’s foremost luxury couturiers and a true pioneer whose work defines modern Nigerian fashion. Her eponymous label, launched in 2005, specialises in couture women’s wear, ready-to-wear collections, jewelry, and hairpieces. LDA is internationally recognised for her signature blend of 1940s vintage glamour with bold African identity, earning her features in prestigious publications like Vogue and retail placement in stores such as Dolce & Gabbana’s Spiga 2 Concept Store in Milan.

Find LDA

Website – https://lanredasilvaajayi.com.ng/

Instagram –@lanredasilvaajayi

Email –  lanredasilva7@gmail.com

 

Press Inquiries:

  • We are open to interviews and coverage requests- this can be emailed to the PR team who will make sure the appropriate persons receive: Elizabeth Osho hello@somesolutions.online

 

 

 

Federal Government Announces N287 Billion Investment in Gas Infrastructure Through MDGIF

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The Federal Government has revealed that the Midstream and Downstream Gas Infrastructure Fund (MDGIF) has committed over N287 billion to key gas infrastructure projects nationwide, in a major push to expand energy access, attract private investment, and strengthen Nigeria’s industrial base in line with the Petroleum Industry Act (PIA).

The disclosure was made in Abuja by the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr. Farouk Ahmed, during the maiden edition of the Energy Correspondents Association of Nigeria (ECAN) Conference, held to mark four years of the PIA. Ahmed was represented by the Authority’s Legal Adviser and Secretary, Dr. Joseph Tolorunse.

According to Ahmed, the MDGIF has so far invested N287 billion across 62 strategic gas infrastructure projects implemented by 16 companies operating within Nigeria’s midstream and downstream value chain. The projects span gas processing, storage, distribution, and other critical infrastructure intended to boost domestic gas utilisation.

He added that the fund’s catalytic role has already begun attracting significant external financing, including an additional $500 million secured through the NMDPRA’s partnership with the African Export-Import Bank (Afreximbank). This partnership, he noted, is accelerating national efforts to unlock the country’s vast gas reserves and support the Federal Government’s gas expansion agenda.

Ahmed emphasised that the MDGIF was designed under the PIA to stimulate private-sector investment in midstream and downstream gas ventures, noting that the current level of financial commitment reflects growing investor confidence in Nigeria’s energy reforms.

He stated that expanding gas infrastructure remains central to improving nationwide energy access, supporting industrial growth, enhancing job creation, and positioning Nigeria as a leading regional gas hub.

Ogun State Targets N500 Billion IGR to Finance 2026 Fiscal Plan

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French energy giant TotalEnergies is reportedly preparing to divest a portion of its renewable energy assets in Asia as part of a broader strategy to reduce its debt and streamline its portfolio.

According to industry sources, the company has already appointed a financial adviser to manage the transaction and has begun reaching out to potential buyers across the region. The assets being considered for sale span select solar and wind projects within TotalEnergies’ rapidly expanding Asian renewables portfolio.

While the exact valuation has not been disclosed, early estimates suggest the assets could be worth several hundred million dollars, depending on market conditions and investor interest.

The planned divestment aligns with TotalEnergies’ ongoing efforts to rebalance its global asset base, strengthen its financial position, and channel more capital into high-growth, high-return projects—both in renewable and conventional energy segments.

The move also reflects a growing trend among major global energy companies seeking to optimize their clean-energy investments while maintaining financial flexibility amid shifting economic conditions.

Further details are expected as discussions progress and potential bidders complete their initial evaluations.

TotalEnergies Set to Sell Part of Its Asian Renewable Assets to Reduce Debt

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French energy giant TotalEnergies is reportedly preparing to divest a portion of its renewable energy assets in Asia as part of a broader strategy to reduce its debt and streamline its portfolio.

According to industry sources, the company has already appointed a financial adviser to manage the transaction and has begun reaching out to potential buyers across the region. The assets being considered for sale span select solar and wind projects within TotalEnergies’ rapidly expanding Asian renewables portfolio.

While the exact valuation has not been disclosed, early estimates suggest the assets could be worth several hundred million dollars, depending on market conditions and investor interest.

The planned divestment aligns with TotalEnergies’ ongoing efforts to rebalance its global asset base, strengthen its financial position, and channel more capital into high-growth, high-return projects—both in renewable and conventional energy segments.

The move also reflects a growing trend among major global energy companies seeking to optimize their clean-energy investments while maintaining financial flexibility amid shifting economic conditions.

Further details are expected as discussions progress and potential bidders complete their initial evaluations.

Senate Advances Armed Forces Bill to Strengthen Child Protection in Military Operations

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The Nigerian Senate has moved closer to a major overhaul of the country’s defence legal framework with the passage of the Armed Forces (Repeal and Re-enactment) Bill, 2025 for second reading.

The bill, sponsored by Senator Abdulaziz Yar’Adua (Katsina Central), is designed to modernise Nigeria’s military laws and bring them in line with global child protection standards. According to the sponsor, the legislation aims to ensure full compliance with international frameworks such as the UN Convention on the Rights of the Child and the African Charter on the Rights and Welfare of the Child.

The proposed reforms are expected to strengthen safeguards against the involvement of children in armed conflict, reinforce the welfare and protection provisions for minors in military environments, and update operational guidelines in accordance with international best practices.

Senators who contributed to the debate described the bill as timely and essential, noting that Nigeria must continue to demonstrate commitment to global treaties protecting children in conflict zones.

With the second reading completed, the bill has been referred to the relevant Senate committee for further legislative work, after which it will be returned to the chamber for clause-by-clause consideration and final passage.

 

20 Dead as Turkish Military Plane Crashes Near Georgia-Azerbaijan Border

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Turkey’s Ministry of Defence has confirmed that all 20 people on board a C-130 military cargo plane have died after the aircraft crashed shortly after crossing into Georgian airspace from Azerbaijan.

According to official reports, the plane had been returning from Ganja Airport in Azerbaijan when it disappeared from radar screens without issuing any distress signal. The aircraft was en route back to Turkey as part of a routine military operation.

Search and rescue teams from Georgia and Turkey launched an immediate joint operation following the loss of contact. The wreckage was later located near the Georgia–Azerbaijan border, though authorities have not yet released details about the cause of the crash.

In a statement, Turkey’s defence ministry expressed deep sorrow over the loss of its personnel and confirmed that investigations are ongoing to determine the circumstances surrounding the incident.

Regional aviation authorities have also been notified, and efforts are underway to recover the victims and secure the crash site.

Nigerian Stock Market Rebounds, Gains N2.6 Trillion After Capital Gains Tax Clarification

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The Nigerian equities market bounced back strongly on Wednesday, November 12, 2025, recovering N2.6 trillion in market capitalization just a day after suffering a record N4.6 trillion loss.

The sharp rebound followed assurances from the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, who clarified that the Federal Government would take a cautious and consultative approach to implementing the recently enacted tax reform laws — particularly the controversial Capital Gains Tax (CGT) on securities transactions.

His statement appeared to calm investor fears and restore confidence in the market, which had been rattled by uncertainty surrounding the new tax measures.

By the end of trading on Wednesday, market capitalization surged by 2.9% to close at N93.5 trillion, compared to N90.833 trillion recorded on Tuesday. Similarly, the benchmark All-Share Index (ASI) rose by the same margin, closing at 145,405.39 points, up from 141,327.30 points the previous day.

Market analysts attributed the rebound to renewed investor sentiment following the government’s clarification, noting that the remarks signaled a willingness to engage with stakeholders before enforcing the tax reforms.

The positive momentum also reflects a broader recovery trend in key blue-chip stocks, particularly in the banking and telecommunications sectors, which had borne the brunt of Tuesday’s sell-off.

Trading activity remained robust, with increased volumes across major sectors, suggesting that investors are gradually regaining confidence amid ongoing fiscal policy discussions.

Zenith Bank Staff Provident Fund Buys N2.3 Billion Worth of Shares in the Bank

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Zenith Bank Plc has revealed that its Staff Provident Fund, which consists of contributions from employees’ salaries, recently acquired 33,015,935 units of the bank’s shares valued at approximately N2.3 billion.

The disclosure was made in a director dealing notice submitted to the Nigerian Exchange (NGX) on November 11, 2025, and signed by the company secretary, Mr. Michael Osilama Otu.

According to the filing, the transactions were executed in nine tranches at an average price of N69.67 per share, under transaction ID 029200268F8M5Y1629. The purchases took place across three trading sessions on September 26, 29, and 30, 2025, at the NGX in Lagos.

However, the filing also revealed that on November 7, 2025, the fund sold 1,750,000 units of Zenith Bank shares at N59.98 per share, amounting to N104.97 million. The sale was likely carried out to meet employee benefit obligations.

The September purchase underscores how institutional funds, such as employee provident funds, can strategically invest in the equities market to generate long-term value and enhance employee financial security.

Zenith Bank’s latest financial statements show that for the nine months ended September 30, 2025, the bank spent N182 billion on personnel expenses, a 21% increase from N150.6 billion recorded in the corresponding period of 2024.

Analysts view the fund’s recent activity as a reflection of confidence in the bank’s long-term performance and its consistent dividend track record, which continues to attract both institutional and retail investors.