The Nigerian National Petroleum Company Limited has said the Obiafu-Obrikom-Oben gas pipeline is ready for first gas, while the Ajaokuta-Kaduna-Kano gas pipeline has reached 95 per cent completion.

NNPC disclosed this in its July 2026 monthly report, stating that pre-commissioning activities at the OB3 River Niger Crossing had been completed in August in preparation for first gas.

In the NNPC report, OB3 was put at 100 per cent, while AKK remains 95 per cent complete. “OB3 River Niger Crossing: Pipeline pre-commissioning activities completed in readiness for First Gas in August 2026,” the report stated.

On the AKK project, the national oil company said construction and installation works had reached an advanced stage, with the pipeline expected to deliver early gas to Abuja in 2026.

“AKK (Early Gas): Construction and installation works are at an advanced stage to deliver early gas to Abuja in 2026,” NNPC stated.

The two projects form part of NNPC’s gas infrastructure development programme aimed at expanding gas transportation infrastructure.

The OB3 pipeline is designed to connect gas supplies across the eastern and western parts of the country, while the AKK pipeline is being developed to transport gas to Abuja and onwards to northern parts of Nigeria.

However, the July report did not provide further details on the expected capacity or commissioning date of the AKK pipeline beyond stating that early gas would be delivered to Abuja in 2026.

Earlier in April, the NNPC announced that it had completed the long-anticipated River Niger crossing of the Obiafu-Obrikom-Oben gas pipeline, unlocking a critical segment of the country’s gas transmission network and paving the way for increased supply to power plants and industries.

The feat, delivered by the NNPC Gas Infrastructure Company, a subsidiary of NNPC Ltd, involved drilling approximately two kilometres beneath the River Niger using advanced horizontal directional drilling technology, a method deployed in complex engineering terrains.

Announcing the development in a statement by the Chief Corporate Communications Officer of NNPC, Andy Odeh, the company said the milestone effectively activates the full capacity of the 130-kilometre OB3 pipeline, designed to transport up to 2 billion standard cubic feet of gas per day.

The pipeline is to significantly strengthen energy availability, enhance supply reliability, and accelerate national economic development.

The company noted that the completion would, in the near term, unlock over 500 million standard cubic feet per day of additional gas supply for the domestic market, with positive implications for electricity generation, manufacturing, and exports.

The Group Chief Executive Officer of NNPC, Bayo Ojulari, noted that the OB3 pipeline remains central to Nigeria’s ambition of building an integrated and resilient gas network.

“I commend everyone involved for their doggedness and for staying the course to deliver this strategic national asset,” he said.

Ojulari also linked the project to the Federal Government’s broader energy targets, including plans to increase crude oil production to 3 million barrels per day and gas output to 12 billion standard cubic feet per day by 2030.

Started in 2016, the $700m OB3 pipeline has missed several completion deadlines before this latest announcement.

Trading on the Nigerian Exchange Limited opened the month of September on a bullish note on Wednesday, as capital appreciation in key mid-cap and blue-chip equities lifted total market capitalisation by N1.22tn.

The benchmark NGX All-Share Index appreciated by 1,883.24 basis points, or 0.77 per cent, to settle at 246,082.63, while the market capitalisation of equities expanded to close at N158.96tn from N157.74tn recorded in the previous session.

This broad-based rally pushed the year-to-date market return higher to 58.14 per cent as buying sentiment extended across multiple sectors on the local bourse.

The sustained positive momentum was primarily anchored by price appreciation in energy, consumer goods and financial heavyweights, including Aradel Holdings, Nestlé Nigeria, HBM Nigeria, May & Baker Nigeria and First HoldCo.

Market breadth closed overwhelmingly positive, with 40 advancing stocks outpacing 19 decliners. Heavyweight gains in Aradel Holdings, which surged  8.83 per cent, alongside Nestlé Nigeria’s 5.83 per cent rise, provided substantial upward leverage to offset moderate profit-taking observed in select large-cap counters.

Activity levels on the trading floor reflected mixed engagement, as total volume traded rose 7.44 per cent to 651.32 million shares, while total transaction value increased 5.35 per cent to N40.77bn. However, total executed deals contracted 18.16 per cent to settle at 43,760.

Access Holdings Plc topped the activity chart by volume, accounting for 129.89 million units valued at N4.16bn, while MTN Nigeria Communications Plc led the market in turnover value with deals worth N4.69bn.

Sectoral performance showed broad investor optimism across major industry groups. The NGX Oil & Gas Index posted the strongest performance with a 3.87 per cent surge, closely followed by the Insurance Index, which rose 3.34 per cent.

The Banking and Consumer Goods indexes both registered gains of 0.87 per cent, while the Industrial Goods sector recorded a 0.71 per cent uptick by the close of business.

Percentage price movements showed FTN Cocoa Processors Plc and McNichols Plc leading the gainers’ chart after soaring 10.00 per cent each to close at N8.25 and N4.95, respectively, followed by SUNU Assurances Nigeria Plc with a 9.94 per cent gain.

Conversely, Tripple Gee & Company Plc fell 9.72 per cent to lead the decliners, while ABC Transport Plc and Nigerian Aviation Handling Company Plc dropped 9.52 per cent and 9.22 per cent, respectively.

Capital market analysts attribute the sustained buying pressure to continued portfolio realignment by institutional and retail investors positioning for third-quarter value opportunities.

Nigeria’s private sector credit climbed to N83.43tn in July 2026, extending a steady rise in lending to businesses and other private-sector borrowers despite the Central Bank of Nigeria’s tight monetary policy stance.

Data from the CBN showed that private sector credit increased by 0.21 per cent between June and July, following a much stronger N2.22tn expansion in June.

The July figure was N6.70tn higher than the N76.72tn recorded a year earlier, representing an 8.74 per cent annual increase.

Over the four-month period from April to July, credit to the private sector rose by N2.84tn, from N80.59tn to N83.43tn

The increase means lending to private sector operators has continued to expand even with the benchmark Monetary Policy Rate held at 26.50 per cent.

The CBN has maintained its restrictive monetary stance as part of efforts to contain inflation and preserve macroeconomic stability. Yet, the sustained rise in private sector credit indicates that demand for financing remains firm.

The pace of expansion, however, slowed considerably in July. After rising from N81.0tn in May to N83.26tn in June, credit added only N171.8 billion in the following month.

The latest figures also showed a contrasting movement in government borrowing.

Net domestic credit declined by N5.94tn, or 4.82 per cent, to N117.35tn in July from N123.29tn in June. Credit to the government similarly fell from N40.03tn to N33.92tn during the month.

The divergence suggests that while bank lending to the private sector continued to gain ground, government’s demand for domestic credit eased during the month.

However, the latest CBN data do not provide a sectoral breakdown of the July increase, making it difficult to determine whether the additional lending was concentrated in manufacturing, agriculture, trade, real estate or other sectors.

Earlier CBN data showed mixed lending trends across key sectors. By March 2026, credit to agriculture stood at N3.86tn, while lending to oil and gas and manufacturing had declined from their January levels. At the same time, credit to power and energy and real estate recorded increases.

The continued expansion in private-sector credit comes amid concerns over the high cost of borrowing. Private-sector groups have repeatedly warned that elevated interest rates could restrict access to finance and increase operating costs for businesses.

For businesses, the rise in credit could provide additional funding for working capital, investment and expansion, although the impact will depend largely on the cost, tenor and productive use of the loans.

Major shareholder N Seven Nigeria Limited has expanded its equity stake in Guinness Nigeria Plc after acquiring 550,092 ordinary shares in an open-market transaction executed on the Nigerian Exchange Limited.

According to an official regulatory filing released on the bourse, the transactions were carried out across multiple price tranches ranging between N356.40 and N384.80 per share. The total deal resulted in an aggregated volume-weighted average price of N367.40 per share.

The acquisition underscores ongoing activity by key insiders to consolidate equity positions in the prominent brewing entity.

Details from the notification indicate that the transactions involved varying lot sizes, with the smallest single transaction block comprising five units executed at N359 per share, while the largest single tranche accounted for 498,973 units purchased at N384.80 per share.

Other notable tranches included 30,000 units traded at N375 per unit, alongside multiple smaller purchases spanning price points such as N356.60, N357, N362.80, N365.90, and N374 per share.

The transaction follows the landmark corporate restructuring completed earlier in 2024, when global beverage giant Diageo Plc agreed to sell its 58.02 per cent controlling stake in Guinness Nigeria to Singapore-headquartered conglomerate Tolaram Group.

Under the transaction structure, Tolaram acquired the controlling equity while entering into long-term licence and royalty agreements to continue the local production, distribution, and expansion of the Guinness brand alongside Diageo’s global spirit portfolio in Nigeria.

N Seven Nigeria Limited, an investment affiliate operating under the broader Tolaram corporate ecosystem, has since led strategic equity consolidations as the manufacturer navigates intense macroeconomic pressures, foreign exchange revaluations, and rising raw material costs affecting the fast-moving consumer goods sector. The open-market top-up signals sustained core investor confidence in the long-term operational recovery and market share retention of the beverage producer.

The formal insider trading disclosure was issued in compliance with Chapter 17 of the NGX Issuers’ Rules governing financial transactions by corporate insiders, directors, and major equity holders.

The notification was signed by Company Secretary Abimbola Ajibola-Jimoh, who noted that the disclosure of insider share transactions reflects standard procedures for maintaining market transparency and adhering to regulatory corporate governance standards across capital markets.