Linkage Assurance Plc has forecast a profit after tax of N1.16bn for the fourth quarter ending 31 December, 2026, on projected insurance revenue of N7.58bn.

The insurer’s earnings forecast submitted to the Nigerian Exchange Group shows that the company expects to generate N1.22bn in profit before tax during the quarter, after accounting for insurance service expenses, reinsurance costs and operating expenses.

Linkage Assurance projected insurance revenue of N7.59bn, while insurance service expenses are estimated at N4.98bn. Allocation of reinsurance premium is expected to amount to N1.94bn, while the amount recoverable from reinsurers for incurred claims is projected at N554.1m.

Investment income is forecast at N1.407bn, contributing to a projected net operating income of N2.63bn.

The company expects operating expenses to amount to N1.406bn, leaving profit before tax at N1.220bn.

After a forecast taxation charge of N61m, Linkage Assurance expects to close the fourth quarter with profit after tax of N1.159bn.

On cash flows, the insurer projects N1.29bn in cash from operating activities, while operating cash flow before working capital changes is estimated at N1.062bn billion.

However, net cash generated from operating activities is forecast at N379.2m, while investing activities are expected to consume N1.52bn. Financing activities are also projected to result in a cash outflow of N151.7m.

Consequently, Linkage Assurance expects a net decrease of N1.289bn in cash and cash equivalents during the period.

The company’s cash and bank balance, which stood at N5.15bn at the beginning of the period, is projected to fall to N3.86bn by the end of the fourth quarter.

The Nigerian National Petroleum Company Limited has announced plans to deploy between 50 and 70 smart, self-service filling stations across the country within the next six months.

The company said the initiative was part of a broader plan to transform its conventional retail outlets into modern energy and mobility hubs, offering petrol, electric vehicle charging, liquefied petroleum gas, compressed natural gas and other services.

The Executive Vice President, Downstream, NNPC Limited, Mumuni Dagazau, disclosed this on Thursday in Abuja while speaking at the commissioning of a technology-driven service station with an electric vehicle charging facility. The mega station is located along Bill Clinton Drive, Airport Road.

Dagazau said the newly commissioned station was the first of several smart outlets that would be introduced nationwide, adding that the concept was to move beyond traditional petrol retailing to provide customers with multiple energy and mobility services in one location.

He said, “This is the first of many smart stations that we are going to have around the country. What the whole concept is, we are trying to turn from a filling station to an energy hub, and we are rolling out a lot of stations.

I think even in Abuja, for this type of station, we have about four or five. We have another two that we’re launching out in Kano. This sort of smart stations that we’re doing.

“We are hoping to roll out a significant number, probably about 50 to 70 of these types of stations within the next six months. So this is what you’ll be seeing going forward from NNPC.

“So what you see here is that we are using all sorts of energy available to us, including EV, electric energy. We are going to be using gas; we are going to be using petrol. So it’s a centre where you can come, and we are going to be calling it our energy hub.”

The new model will also allow customers to dispense petrol themselves, including at night, through a digital payment system, although attendants will remain at the stations to assist customers.

Dagazau dismissed concerns that the introduction of self-service pumps would result in job losses, arguing that the expanded services would require more workers to operate and support the technology.

“Well, you saw all of the pumps have attendants. So I really don’t know what they’re talking about when it comes to jobs. What NNPC does is create jobs. What this does is create a job.

“You have an energy hub today. If you look at the average filling station and you look at the energy hub, you’ll find more people in the energy hub than you would find in the filling stations, right? So what we are doing is creating jobs for that. Somebody has to support the integration.

“Somebody has to support the automation. The EVs, we have to be here to support people. So nothing really changes for us. What we’re doing is just what the delivery to the customer is. The guarantee, the comfort of the customer, that’s really what we’re after. That’s what the smart delivery is all about.”

The Executive Director, Retail Operations and Mobility, NNPC Limited, Shettima Baba-Kukawa, said the Abuja station had a storage capacity of 180,000 litres of Premium Motor Spirit and 45,000 litres of Automotive Gas Oil.

The facility has 16 PMS pumps, two AGO pumps and six electric vehicle charging points installed in partnership with African Motor Works. It is powered entirely by solar energy through a system with a capacity of more than 200 kilowatts.

Baba-Kukawa said the outlet would also feature a quick-service restaurant, coffee shop, automated car wash, modern service bay and LPG dispensing facilities, while CNG and a vehicle conversion centre were planned.

He said, “The station is going to run 24 hours. And it is fully self-service. So for customers that want to trust themselves and dispense themselves, they can actually do that. Transactions are done on their phone app and concluded by dispensing the exact amount of fuel they purchased into their tanks.”

Despite the digital system, he said customers unable to use the application would not be excluded, as staff would be available to assist them.

Dagazau also disclosed that NNPC had begun plans to modernise its existing stations, stressing that the company was responding to changing customer expectations.

He said, “We’re going to modernise our station. That’s the word that we’re going to say. You don’t want to be going into the same station every day, every day, every day. You are demanding, so our modernisation is a demand from what the customer wants. The customer deserves a better quality of service, and we are delivering that quality of service.”

He said the company hoped that most of its stations would eventually adopt the new model, although the pace would depend on customer demand and the investment required.

The Managing Director, NNPC Retail, Huub Stokman, said the transformation was necessary as the downstream petroleum market evolved following deregulation and the commencement of operations at the Dangote Refinery.

He said consumers were increasingly demanding quality products, competitive prices, faster services, digital payments and alternative energy options such as EV charging and CNG.

“Above all, especially the younger generation, they want us to deliver it sustainably, hence the fact that you also see that this station is completely solar-powered,” Stokman said.

On her part, the Comptroller-General, Nigeria Immigration Service, KN Nandap, in a goodwill message at the commissioning, commended NNPC for combining conventional fuel retailing with electric vehicle charging and other modern services.

Nandap said the facility reflected Nigeria’s growing adoption of technology, cleaner energy and smart mobility, adding that such investments could create opportunities for employment, skills development and industrial growth.

The development comes as Nigeria’s downstream sector undergoes significant changes, with deregulation, increased domestic refining capacity and the emergence of alternative fuels reshaping how petroleum products are sold and consumed.

NNPC said its smart-station programme was intended to position its retail network for the changing market by combining conventional fuel sales with cleaner energy, digital services and other consumer-focused offerings.

The Bank of Industry has raised N274.18bn through its inaugural domestic naira-denominated five-year fixed-rate bond due 2031, making it the largest debt capital markets issuance by a Development Finance Institution in Nigeria, based on publicly available market data.

Rand Merchant Bank Nigeria acted as Joint Issuing House for the transaction, which was initially targeted at N250bn. The bond was oversubscribed, with strong investor demand enabling the Bank of Industry to increase the issuance to N274.18bn.

The transaction attracted a broad range of institutional investors, including pension fund administrators, banks, insurance companies, asset managers, development finance institutions and other institutional investors.

“This transaction demonstrates the ability of Nigeria’s capital markets to mobilise long-term capital at scale,” said the Executive Director and Head of Investment Banking, Broader Africa, RMB Nigeria, Chidi Iwuchukwu, in a statement on Thursday.

“BOI plays an important role in advancing industrialisation, enterprise growth, and job creation. We are pleased to have partnered with the Bank on this issuance and remain focused on delivering financing solutions that support sustainable economic growth in Nigeria and across the broader African continent.”

The transaction also builds on RMB’s relationship with BOI, having previously acted as Financial Adviser on the bank’s inaugural Eurobond issuance and supported the establishment of its domestic bond programme.

Head of Debt Capital Markets, RMB Nigeria, Laju Atake, said the transaction reflected the continued development of Nigeria’s capital markets and the importance of access to long-term capital.

“Supporting inaugural issuers and significant capital markets transactions is a core strength of RMB’s debt capital markets franchise,” Atake said.

“Over the past nine months, we have advised five distinct issuers on their debut debt capital markets transactions in Nigeria. BOI’s domestic bond issuance reflects the continued development of Nigeria’s capital markets and the importance of efficient access to long-term capital for leading institutions.”

RMB said the transaction demonstrated the depth of liquidity in Nigeria’s domestic capital markets and the capacity of local investors to support large-scale, long-term financing transactions.

The bank extended its appreciation to the Securities and Exchange Commission, the Central Bank of Nigeria, professional advisers, transaction parties, investors and other market participants who supported the execution of the issuance.

RMB also congratulated the Board, Management and staff of the Bank of Industry on the transaction and thanked BOI for its continued trust.

The transaction adds to RMB’s work with BOI across international and domestic capital markets and supports the mobilisation of long-term capital for sustainable economic development.