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All Posts in "Day: February 5, 2026"

Savannah Energy Provides Unaudited FY 2025 Operational and Financial Update with 12% Increase in Cash Collections in Nigeria

 
 
 
 
Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter, has released its financial and operational update on its Nigerian operations and other markets in Africa, including up-to-date cash collections in its Nigerian business.
The update shows that its gross production in Nigeria averaged 18.8 Kboepd for FY 2025, of which 83% was gas (FY 2024: 88%). Following the completion of the SIPEC Acquisition in March 2025, it had commenced an 18-month expansion programme that saw it Stubb Creek average gross daily production increase to 3.0 Kbopd in 2025, approximately 13% above the 2024 average.
The report also shows that its cash collections in Nigeria increased by over 12% to US$278.0 million, compared to the previous year’s US$248.5 million, with the trend continuing into 2026 with cash collections during January 2026 at over US$64.4 million, compared to US$20.4 million in January 2024.
According to the report, Savannah’s Total Revenues for FY 2025 stood at US$235.0 million, compared to US$258.9 million in FY 2024. As at 31 December 2025, its cash balances stood at US$39.5 million, compared to US$32.6 million in FY 2024, with a net debt US$655.9 million, compared to US$636.9 million as at 31 December 2024. It also reported a Gross debt US$698.4 million as at 31 December 2025, of which only US$39.0 million (6%) was recourse to the Company, with the balance sitting within subsidiary companies on a non-recourse basis. Its Trade Receivables balance as at 31 December 2025 stood at US$507.2 million, a 6% improvement on year-end 2024’s US$538.9 million.
Savannah also reported that it has made significant progress in refinancing its debt facilities. It reports that  following the previously announced increase in the Accugas debt facility from NGN340 billion to up to approximately NGN772 billion as at 31 December 2025, there was a remaining principal balance under the US$ Facility of approximately US$2 million, which has been repaid in early 2026.
Savannah also provided new updates on its Uquo NE development well, the Uquo South exploration well, and the new compression system at the Uquo Central Processing Facility (“CPF”). It reports that site construction on the Uquo NE development well is expected to be completed this month, with the rig ready for deployment, and mobilisation scheduled over the next few weeks, with first gas from the facility targeted by the end of Q2 2026. Well site preparation has also commenced on the Uquo South exploration well.
According to the company, the newly completed and fully commissioned compression system at the Uquo Central Processing Facility which was delivered safely and approximately 10% under the original US$45 million budget, will enable it to maximise production from its existing and future gas wells. It also announced signed a gas contract extension agreement with the Central Horizon Gas Company Limited to end December 2026 for up to 10 MMscfpd.
On the renewable energy front, Savannah, which had in 2025 repositioned its power sector business model to pursue operating asset opportunities in both the thermal and renewable energy spaces alongside interests in large scale renewable energy development projects, said it has set itself the target of completing its proposed acquisition of indirect interests in three East African hydropower projects by H1 2026. The assets include the 255 MW Bujagali power plant, with a 13-year operating and payment track record, and two advanced-stage development projects, marking Savannah’s potential for entry into five new countries – Uganda, Burundi, the Democratic Republic of the Congo, Malawi and Rwanda.
It is also continuing to progress its existing priority Power Division projects, including the up to 250 MW Parc Eolien de la Tarka wind farm project in Niger and the up to 95 MW Bini a Warak hybrid hydroelectric and solar project in Cameroon.
In Niger, its subsidiary is considering commencing a four-well testing programme and/or a return to exploration activity in the R1234 PSC contract area in 2026/27, subject to a satisfactory agreement being reached with the country’s government.
Online Poster by — February 5, 2026 in Industry
Nestlé Nigeria Recognised by Nigeria Customs Service For Supply Chain Security And Compliance Excellence

Nestlé Nigeria Recognised by Nigeria Customs Service for Supply Chain Security, Compliance ExcellenceNestlé Nigeria Plc has been awarded the highest level of Authorised Economic Operator (AEO) certification by the Nigeria Customs Service (NCS). The company achieved Security and Safety status under the NCS AEO programme, a certification valid for five years that recognises its compliance with trade regulations, supply chain security requirements, and global best practices.

 

The certification followed a rigorous evaluation process, including detailed customs audits and on-site operational assessments. Out of 391 applications received nationwide, only 35 companies were granted full certification, with even fewer achieving the Security and Safety status.

 

Highlighting the significance of this milestone at the recent formal presentation of certificates in Abuja, the Comptroller General of the Nigeria Customs Service, Alhaji Bashir Adewale Adeniyi (MFR), said: “With the presentation of certificates today, it is a clear testament that compliance is indeed possible, even within an ecosystem often challenged by non-compliance.”

 

Providing operational perspective, Assistant Comptroller NU Awa, AEO National Lead, added: “Nestlé Nigeria was granted AEO Safety and Security certification in recognition of the very high safety and security standards observed during the validation process. This certification reflects the Service’s trust in the company’s compliance framework and its commitment to strengthening supply chain security.”

 

For Nestlé Nigeria, the AEO Security and Safety status supports faster customs clearance, reduced inspections at ports and warehouses, improved material availability, and stronger engagement with regulators and trade partners. These benefits enhance supply chain efficiency while supporting business continuity and the consistent delivery of products to consumers across the country.

 

Commenting on the achievement, Kasum Diabate, Supply Chain Manager, Nestlé Nigeria, said the certification reflects the company’s disciplined approach to operating responsibly.
“This certification is a clear recognition of the strength and integrity of our supply chain. At Nestlé Nigeria, we are deliberate about building systems that are secure, compliant, and resilient from sourcing to delivery. Being awarded the highest AEO Security and Safety status by the Nigeria Customs Service reinforces the trust placed in our operations and our responsibility to support efficient and responsible trade in Nigeria.”

 

Nestlé Nigeria has operated in the country for over six decades, consistently prioritising compliance, transparency, and collaboration as it serves millions of consumers daily. This milestone reinforces Nestlé Nigeria’s commitment to being a trusted partner in Nigeria’s economy, setting standards for how business should be done, and continuing to meet the evolving needs of consumers through responsible and sustainable operations.

Online Poster by — February 5, 2026 in News
Transcorp, DMO, CardinalStone, Chapel Hill Denham, Among winners At NGX Made Of Africa Awards

Transcorp, DMO, CardinalStone, Chapel Hill Denham, among winners at NGX Made of Africa Awards | Worldstage News

 

Transnational Corporation Plc, the Debt Management Office, CardinalStone, Chapel Hill Denham and MTN Nigeria Communications were among the recipients at the 2025 Made of Africa Awards hosted by Nigerian Exchange Group, recognising institutions driving performance across Nigeria’s capital markets.

 

The awards honour brokers, issuing houses, trustees, fund managers, listed companies and other market participants for excellence in value delivery, compliance and market impact.

 

Group Chairman of NGX Group, Umaru Kwairanga, said the awards underscore the role of market stakeholders in strengthening investor confidence and improving market standards. “Their achievements set a benchmark for performance, integrity and innovation across the capital market,” he said. He added that sustaining this level of discipline and transparency is essential to maintaining the trust of both domestic and international investors in Nigeria’s financial markets.

 

Group Managing Director and Chief Executive Officer, Temi Popoola, emphasised the importance of collaboration and operational efficiency stating “Operational efficiency and cooperation across the ecosystem are increasingly important as trading activity diversifies and investor expectations continue to rise”

 

Adding a regulatory perspective, Bola Ajomale, Executive Commissioner, Operations, Securities and Exchange Commission (SEC), said the awards underscore the value of compliance and transparency in market development. “Recognition through the Made of Africa Awards reinforces the importance of adherence to market rules and standards. When operators demonstrate accountability and professionalism, it strengthens investor confidence, ensures market integrity, and supports sustainable growth across Nigeria’s financial markets,” he said.

 

Chief Executive Officer of Nigerian Exchange Limited, Jude Chiemeka, said recognising strong performance across the ecosystem supports deeper market participation and long term capital mobilisation.

 

Among the recipients, First Trustees Limited won Best Trustees in Terms of Deal Value, while Legend Internet Plc received the Market Debut Excellence award. CardinalStone Securities emerged as Equity Trader of the Year and Broker of the Year, Capital Express Securities won ETPs Trader of the Year, and Stanbic IBTC Stockbrokers was named Fixed Income Trader of the Year. Chapel Hill Denham received awards for Fund Manager with the Largest Listed Fund Size and Market Operator with the Highest Value of Foreign Portfolio Investment Transactions.

 

Mainstreet Capital and APT Securities and Funds jointly won Issuing House with the Highest Number of Primary Market Equity Transactions, while Anchoria Advisory Services led in corporate bond issuances. Dangote Cement was named Best Issuer in Terms of Fixed Income Listings, BUA Cement received the award for Most Compliant Listed Company, and Transnational Corporation Plc was honoured for Capital Market Excellence in Equity. Network Capital was named Most Compliant Trading License Holder, United Capital Securities won Best Sponsoring Trading License Holder, and Banwo and Ighodalo received recognition for legal advisory value in capital market transactions.

Special recognition went to the Debt Management Office for fixed income market development and to the Capital Markets Correspondence Association of Nigeria for capital market reporting, while Lambeth Capital/Bamboo Systems Technology were recognised for onboarding the highest number of new retail investor accounts.

 

The awards come as NGX Group continues efforts to broaden market participation and deepen liquidity across equity and fixed income segments.

Online Poster by — February 5, 2026 in Capital Market
NGX Group, SEC, Nigeria Police Force Collaborate On Capital Market Integrity

Nigeria's SEC, NGX Group, Police Agree To Sustain Partner For Capital Market Integrity – Invest Data

 

Nigerian Exchange Group Plc (NGX Group) on Wednesday, hosted a Closing Gong Ceremony in honour of the Inspector-General of Police, IGP Kayode Egbetokun, signaling a strengthened partnership between capital market regulators and law enforcement agencies.

 

The ceremony highlighted a shared commitment to investor protection, the prevention of financial crime, and the reinforcement of trust and confidence in Nigeria’s capital market.

 

Welcoming the IGP, Alhaji Umaru Kwairanga, Group Chairman of NGX Group, commended the leadership of the Nigeria Police Force in supporting market integrity. He said: “Market integrity is a shared responsibility. By honouring the Inspector-General of Police, we are reinforcing the importance of institutional alignment in protecting investors and preserving trust in our financial system. Strong collaboration between regulators, enforcement agencies, and market infrastructure institutions is essential to building a resilient and credible market that supports economic growth.”

 

The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, emphasized the importance of coordinated enforcement, noting: “Investor protection is at the core of market regulation, and today’s engagement highlights how critical collaboration with law enforcement is to achieving that mandate. This partnership strengthens our enforcement capacity, enhances deterrence against illegal investment activities, and reinforces confidence in the Nigerian capital market.”

 

In his response, IGP Kayode Egbetokun reaffirmed the commitment of the Nigeria Police Force, stating: “A transparent and well-regulated capital market is vital to Nigeria’s economic growth. The Nigeria Police Force remains committed to working with regulators and market operators to prevent financial crime, protect investors, and uphold the integrity of our financial system.”

 

Also speaking, Chairman of Nigerian Exchange Limited (NGX), Ahonsi Unuigbe, highlighted the role of the Exchange in promoting market discipline: “A transparent and orderly market can only thrive where rules are respected and misconduct is addressed decisively. The presence of the Nigeria Police Force in this collective effort sends a strong signal that safeguarding the market is a national priority.”

 

Similarly, Group Managing Director/Chief Executive Officer of NGX Group, Temi Popoola, stressed the importance of aligning innovation with oversight: “Technology and market growth must be supported by strong enforcement and investor protection frameworks. Our collaboration with the SEC and the Nigeria Police Force reflects a unified approach to preserving the credibility of Nigeria’s capital market.”

 

The event brought together key stakeholders across the capital market ecosystem, all reaffirming their commitment to accountability, transparency, and investor confidence. The ceremonial Closing Gong marked a collective resolve to strengthen Nigeria’s financial system through sustained collaboration.

Online Poster by — February 5, 2026 in Capital Market
NAFDAC Warns Public Against Fake Recruitment Notice

By Winifred Bosa
The National Agency for Food and Drug Administration and Control (NAFDAC) has disowned a purported press release circulating on social media announcing a planned recruitment exercise by the agency, describing it as fake and misleading.
In an official clarification, NAFDAC said while it occasionally conducts recruitment exercises to engage qualified Nigerians, the press release currently in circulation did not originate from the agency and should be disregarded by members of the public.
The agency warned that the fraudulent publication was designed to mislead unsuspecting job seekers and, in many cases, to extort money from them under the guise of recruitment.
NAFDAC advised Nigerians to always verify information relating to its activities through its official website and other recognised communication channels, stressing that any authentic recruitment announcement would be formally communicated through those platforms.
The agency emphasised that it has not issued any press release announcing a new recruitment exercise at this time.
The clarification was signed by the Director General of NAFDAC, Professor Mojisola Christianah Adeyeye, who reiterated the agency’s commitment to transparency and urged the public to remain vigilant against fraudulent claims.
Online Poster by — February 5, 2026 in News
Amavi Sol Debuts “Ihugba,” A Love-Led Afro-Soul Single

Amavi Sol presents “Ihugba,” a new Afro-soul single rooted in love, honesty, and emotional clarity. Calm and reflective in tone, the song explores love not as spectacle, but as something real, grounding, and life-affirming.
Ihugba draws from the Igbo idea of pleasant turns and bright possibilities, and is inspired by the quiet beauty of finding a companion who feels like home.
 With warmth at its core and passion in its delivery, the song invites listeners to sit with feeling and bask in it.
Blending soulful expression with gentle Afro-influenced rhythms, Ihugba creates a sound that feels intimate, human, and timeless.
 It is a record suited for reflective moments, quiet nights, and joyful celebrations — spaces where emotion is allowed to breathe and move freely.
“Afro-soul and Afrobeats continue to show the world a softer, more human side of Nigeria — one rooted in depth and emotional honesty,” says Creative Director of the Amavi Sol project, Tony Usidamen.
 “Ihugba is a contribution to that story — music that carries warmth and culture, and reflects the beauty of emotional expression within contemporary Nigerian sound.”
Ihugba is available now on all major streaming platforms.
Listen here:
About Amavi Sol
Amavi Sol is an artist creating emotionally grounded music that explores the full human experience — love, joy, pain, loss, connection, and the quiet strength it takes to keep going.
Through reflective songwriting and a warm, intimate sound, Amavi Sol’s music offers comfort, clarity, and moments of stillness in a noisy world.
Rooted in honesty rather than spectacle, Amavi Sol creates songs meant to be lived with — music for reflection, healing, hope, and celebration.
 His work honors both the depth of feeling and the light that makes life worth celebrating.
“Ihugba” marks the first official release from Amavi Sol.
Online Poster by — February 5, 2026 in News
Leadway Assurance Partners Paga With Insurance Solutions To Safeguard Doroki Mechants

Paga, the fintech company behind the Doroki merchant platform, has entered into a strategic partnership with Leadway Assurance, one of Nigeria’s foremost insurance providers, to deliver comprehensive insurance solutions designed specifically for Doroki merchants. The collaboration aims to help merchants safeguard their businesses against everyday risks and recover quickly from unforeseen events.

Under this partnership, Doroki merchants will gain access to tailored insurance solutions designed to protect the critical components of their day-to-day operations thereby safeguarding their income, assets, and continuity of operations.

Beyond offering coverage, this initiative is built on a holistic approach to risk resilience. Doroki and Leadway will equip merchants with clear guidance on what each product covers, how to file a claim, and best practices for risk management—empowering them with knowledge that strengthens decision-making and builds confidence in handling uncertainties.

“At Doroki, we see our merchants as partners in driving economic activity across Nigeria’s retail landscape. This partnership with Leadway—an insurer with decades of experience and a strong reputation for reliability—means our merchants can focus on growing their businesses with the peace of mind that they’re protected,” said the General Manager of Doroki Merchants, Arike Okwunowo.

Commenting on the development, Head of Digital Business, Leadway, Diana Mulili reiterated Leadway’s commitment to expanding access to financial security for every Nigerian. “At Leadway, we believe insurance should integrate seamlessly into the everyday realities of people and businesses. By partnering with Doroki, we are embedding practical, easy-to-understand insurance solutions into a platform merchants already trust—helping them protect their income, assets, and livelihoods while continuing to grow with confidence.”

This collaboration not only provides financial protection for Doroki merchants but also fosters a culture of preparedness, awareness, and informed decision-making—key pillars for sustainable business growth in an unpredictable environment.

Online Poster by — February 5, 2026 in News
Anambra Police Nab 29- year Old Woman for Abusing  17- Year Old Housemaid

As part of the continuous commitment to the welfare and safety of students and pupils in the State, the Anambra State Police Command today Tuesday, 4th February 2025, received a 29-year old female suspect, Mrs Edeh Osinachi from the Anambra State Ministry of Education. The suspect allegedly abused and inflicted serious injuries on a 17-year old girl said to be her house help in Awka.
Preliminary investigations reveal that officials of the school during a teaching session, noticed severe injuries on her body and immediately made enquiries. During the interaction with the victim, she disclosed that the injuries were inflicted on her by her guardian because she used her guardian’s phone to make calls without her permission.
According to the victim, Mrs. Osinachi, angered by the act, allegedly used a hot pressing iron on her as a form of punishment. During interrogation by the Police, the suspect reportedly confessed to the act.
To this end, Anambra State Police Command while commending the vigilance of the school authorities, assures the public that a thorough investigation will be conducted and that justice will be served in accordance with the Law. The Command also urges parents to give birth to the number of children that they can train, to avoid leaving them vulnerable to abuse whilst in the care of others.
Online Poster by — February 5, 2026 in News