In a deliberate bid to sustain local gas utilization and curb routine gas flare, the Renaissance Africa Company Limited has inaugurated its Southern Swamp Associated Gas Solutions (SSAGS) Project in Delta State.

The project is supporting injection of approximately 100 million standard cubic feet of gas per day (MMScf/d gas) to the domestic market and about 820 million barrels of oil equivalent (MMboe).

IRenaissance spokesperson, Michael Adande, in a statement explained that the the project is successful implementation of the company’s strategy for ending routine flaring in its Tunu Node operations and boosting industrialisation.

The project is within oil mining leases 35 and 46 fields, located in the coastal swamp region, south of Warri, and establishes anchor infrastructure necessary for future development of substantial discovered and undiscovered potential within the node, currently estimated at about 820 million barrels of oil equivalent.

Adande said “when used for electricity, 100 million standard cubic feet of natural gas will power about 6,700 Nigerian households for one year, with an expected ripple effect that benefits businesses, creating thousands of direct and indirect jobs across different phases of the gas supply chain”.

Speaking at the inauguration, Chief Executive Officer, Renaissance, Mr. Tony Attah, described the inauguration as, “A milestone that marks a significant achievement in our commitment to delivering sustainable energy solutions and advancing associated gas utilisation. It highlights our vision to ensure energy security and industrialisation in the nation delivered through our core values of Collaboration, Respect, Integrity, Safety, and Performance”.

Speaking on the significance of the project to environmental performance of Renaissance, the company’s Chief Production Officer, Mr. Mesh Maichibi, noted the SSAGS project would route all production into four flow stations in Tunu, Ogbotobo, Benisede, and Opukushi, and evacuate oil via the Trans Ramos Pipeline to the Forcados Export Terminal, thereby providing Nigeria with the latest success story in the country’s commitment to ending flaring in oil and gas operations.

The United Bank for Africa (UBA) Plc, has once again, reaffirmed its leadership as one of the continent’s most innovative and resilient financial institutions, as the bank has, for the third time in five years, been named the African Bank of the year 2025 by the Banker.com.

UBA also won the Best Bank of the Year awards in nine of its 20 African subsidiaries, bringing its total awards this year to ten as UBA Benin, UBA Chad, UBA Republic of Congo (Congo-Brazzaville), UBA Liberia, UBA Mali, UBA Mozambique, UBA Senegal, UBA Sierra Leone, and UBA Zambia, all came out tops as the best banks in their respective countries, underscoring the bank’s strength across West, Central and Southern Africa and highlighting the depth of its Pan-African franchise.

The Banker.com, a leading global finance news publication published by the Financial Times of London, organises the annual Bank of the Year Awards, and this year’s edition was held at a grand ceremony at the Peninsula, London, on Wednesday.

The Chief Executive Officer, UBA UK, Deji Adeyelure, received the awards on behalf of the bank, representing the Group Managing Director/CEO, Oliver Alawuba, and was accompanied by the bank’s Head Business Development, Mark Ifashe, and Head, Financial Institutions, Shilpam Jha.

The Banker’s awards are widely regarded as the most respected and rigorous in the global banking industry, celebrating institutions that demonstrate outstanding performance, innovation and strategic execution.

In its remarks on UBA’s winnings, the banker.com said, “For the third time in five years, UBA Group has won the coveted Bank of the Year award for Africa. UBA Group time after time punches above its weight against its larger African rivals. The bank this year also takes home nine separate country awards (one more than it gained for its last continental win in 2024), equivalent to around a quarter of the awards for the continent, and more than any of its continent-wide rivals.”

Continuing, it said, “Perhaps even more impressive is the fact that the awards were won across a broad geographic spread, going to lenders based in the Economic Community of West African States (Benin, Liberia, Senegal, Sierra Leone, and former member Mali), the Central African Economic and Monetary Community (Chad, Republic of Congo) and the Southern African Development Community (Mozambique, Zambia). Its award wins were particularly notable in the highly competitive categories for Benin and Mozambique.”

The Banker also highlighted UBA’s strong financial performance and commitment to future growth. In 2024, the Group recorded a 46.8 per cent increase in assets and a 6.1 per cent rise in pre-tax profits in local currency terms, while continuing to invest significantly in talent and technology. West Africa remains UBA’s heartland, with operating revenue and profit increasing by 87 per cent and 89 per cent respectively in H1 2025.

The bank’s digital and innovation leadership was equally recognised. During the year under review, and launched its Advance Top-Up buy-now-pay-later feature on the *919# USSD platform, expanding financial access for customers, while the bank’s chatbot Leo continued its strong growth trajectory, with transaction volumes rising by 29 per cent year-on-year in H1 2025. Notably, in August, Leo became the first African banking chatbot to enable cross-border payments via the Pan-African Payment and Settlement System (PAPSS).

UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, while reacting to the achievement, said the recognition affirms the bank’s long-term strategy and customer-first philosophy.

“This honour reflects the strength of our Pan-African network, the trust of our customers, and the dedication of our people. Winning Africa’s Bank of the Year for the third time in five years is not by chance; it is a testament to disciplined execution, innovation, and a deep understanding of the markets we serve,” Alawuba said.

“Our nine country awards across diverse regions of Africa show that UBA is not just growing, but growing with impact. We remain committed to driving financial inclusion, supporting economic development, and deploying technology that makes banking simpler, faster, and more accessible to Africans everywhere,” he added.

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide and serving over 45 million customers globally. Operating in twenty African countries, the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.

The Securities and Exchange Commission (SEC) and Nigerian Exchange Group, have expressed that the newly signed Investments and Securities Act (ISA) 2025 signed into law by President Bola Tinubu is expected to drive the nation’s economic growth and further enhance capital formation in the capital market.

Both capital market regulating bodies stated this in Lagos during the Capital Market Correspondents Association of Nigeria (CAMCAN) workshop 2025 held in Lagos with theme : “Regulatory Reforms: ISA 2025 and Nigeria’s Investment Climate”

Giving his keynote address, the Director-General, SEC, Mr. Emomotimi Agama, stated that the ISA 2025 is not only a replacement for the 2007 Act as it represents a comprehensive reform agenda designed to modernise regulatory environment, strengthen governance, attract investment, and reposition Nigeria’s capital market to meet the demands of a dynamic global economy.

Agama, who was represented by Lagos Head of the Commission, John Briggs noted that CAMCAN workshop theme suggests regulatory reforms play a defining role in shaping the nation’s investment climate, and ISA 2025 is central to that transformation.

According to him, operating under the ISA 2025 is aimed to align with International Organization of Securities Commissions (IOSCO) standards with the imperative to strengthen Nigeria’s investment climate by building a deeper, more resilient capital market.

“One of the most transformative aspects of the ISA 2025 is the clarity it brings to the mandate of the Securities and Exchange Commission.

“For the first time, the Act explicitly sets out the regulatory objectives, functions, and powers of the Commission including acting in the public interest, protecting investors, maintaining fair and transparent markets, preventing unlawful practices, reducing systemic risks, and supporting capital formation,” he said.

He noted that the major conceptual shift introduced by ISA 2025 is the transition from regulating only “Capital Market Operators” to supervising a wider class of “regulated entities.”

Part of which include: digital asset and virtual asset exchanges, warehouse operators and warehouse receipt systems, derivatives and commodities platforms and market infrastructure operators.

He maintained that for the first time, the SEC is empowered to: identify market-wide vulnerabilities; collaborate with other regulators during periods of financial stress; take pre-emptive action to prevent contagion; and ensure the stability of systemically important institutions.

For investors, he explained that the ISA 2025 signals a more resilient and predictable market environment, one that is better able to withstand shocks.

According to him, the ISA 2025 addresses Ponzi schemes more decisively by giving the SEC power to seal prohibited schemes and impose criminal sanctions.

“These reforms protect retail investors, deepen the fund-management industry, and encourage genuine collective investment vehicles that can mobilise long-term capital.

“This is a strong boost to investor confidence and contributes meaningfully to improving Nigeria’s investment climate,” Agama added.

He, however, called on collective responsibility of stakeolders to bring the framework to life through collaboration, capacity building, and faithful implementation.

“The ISA 2025 will become the cornerstone of the capital market Nigeria needs and deserves, and a catalyst for a stronger and more competitive investment climate,” he added.

While giving his speech, the Chairman, Nigerian Exchange Group, Alhaji Umaru Kwairanga, stated that the recent reforms encapsulated in the IS) 2025, has entered a pivotal phase in strengthening market governance, boosting investor protection, and enhancing overall market competitiveness.

He noted that, “These reforms are not merely regulatory updates; they are foundational shifts designed to modernize our capital market architecture, attract deeper pools of capital, and position Nigeria as a top-tier investment destination within Africa and globally.

“As we navigate the complexities and opportunities presented by these reforms, your role as market media stakeholders becomes even more critical.”

He called on participants at the conference to maximize opportunities offered by ISA 2025 as regulators, operators, investors, and the media work in alignment.

He commend CAMCAN for its unwavering commitment to enriching capital market literacy and facilitating meaningful engagement among stakeholders.

“I am confident that the insights shared today will contribute significantly to strengthening Nigeria’s capital market and supporting sustainable economic growth,”Kwairanga added.

Oil major, Chevron has highlighted operational progress as it deepens oil production capacity in Nigeria.

Chairman and Managing Director of Chevron Nigeria/mid-Africa business unit, Mr Jim Swartz, confirmed that Chevron recorded zero incidents of sabotage in the last year, during his visit to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), in Abuja over the weekend.

“Chevron has not recorded any oil theft or attacks on our pipelines this year. This is the longest we’ve gone without oil theft,” Swartz said.
Chevron is a member of the Oil Producers Trade Section (OPTS), a subgroup of the Lagos Chamber of Commerce and Industry.

The OPTS is a private industry group dedicated to exploring, developing, and producing Nigeria’s oil and gas resources in a sustainable and beneficial manner for the Nigerian people.

It represents the interests of approximately 31 oil and gas companies that collectively operate approximately 85 per cent of Nigeria’s oil.
in addition to the feat, the NNPCL and the International Oil Companies (IOCs) have been able to ramp up their production to 1.8 million barrels per day, unlike in the past when production was trapped at 600,00 barrels per day.

Government has also set a target of 2.06 million barrels per day, as unveiled in the Medium-Term Expenditure Framework (MTEF), which was made public by the Minister of Budget and National Planning, Senator Atiku Bagudu.

The Commission Chief Executive Officer of NUPRC, while responding expressed delight over Chevron’s testimony on recording zero incidents pertaining to oil theft.

He attributed the feat achieved to the initiatives by President Bola Tinubu’s administration.