Multi-Trex Integrated Foods Plc has secured approval from the Nigerian Exchange to take steps aimed at increasing its public shareholding, following a recapitalisation that left its free float below the Main Board requirement.

According to a statement signed by the Company Secretary, Sogunle Adekunle, on Tuesday, NGX Regulation Company granted the company a 24-month moratorium, ending 14 January 2028, to restore its free float to at least 20 per cent of issued share capital or a market capitalisation of 20bn, whichever is lower. This extension provides the company with additional time to comply with regulatory requirements while implementing strategic plans to increase shareholder participation.

The recapitalisation, which followed a seven-year cessation of operations, involved Messrs N-Foods Universal Concept Limited injecting capital to settle obligations to the Asset Management Corporation of Nigeria.

As a result, N-Foods Universal Concept Limited now controls 70 per cent of Multi-Trex’s issued share capital, leaving the company’s public free float at 7.23 per cent, valued at N117.46m, according to the 2024 audited financial statements.

In a statement to shareholders, the company emphasised its commitment to maintaining its listing on the NGX and assured investors that it is actively exploring strategies to increase the public free float. The board warned that failure to meet the NGX threshold within the extension period could result in trading suspension or potential delisting of the company’s securities.

The management expressed appreciation to shareholders for their continued patience and support during the company’s recovery phase, highlighting the strategic measures undertaken to strengthen operations and compliance with market regulations.

Multi-Trex Integrated Foods’ NGX approval marks a milestone in its ongoing business recovery, giving the company a clear regulatory pathway to enhance public participation in its shareholding while ensuring compliance with market standards.

The Nigerian Communications Commission on Wednesday said its Q4 2025 industry performance data shows measurable improvements in network quality and service delivery across the country, as the regulator deepened efforts to promote transparency and accountability in the telecommunications sector.

At the virtual media engagement held to present the Q4 2025 Industry Performance Reports, the commission walked journalists through key insights, performance trends, and highlights from the report. The full document has also been published on the NCC’s website.

Speaking during the session, the Head of the Public Affairs Department, Mrs Nnenna Ukoha, said the quarterly data reflects the commission’s commitment to evidence-based regulation and improved consumer experience.

“The commission has, over time, affirmed its commitment to accountability, transparency, and a data-driven approach in implementing its mandate,” Ukoha said. “Part of this commitment is our responsibility to generate accurate, transparent, and timely data and to ensure that this data is properly understood, well interpreted, and correctly communicated to the Nigerian public.”

Ukoha described the media as critical partners in shaping public understanding of developments in the telecoms industry, noting that accurate reporting of industry data plays a key role in strengthening consumer trust, investor confidence, and policy direction.

“Our objective today is straightforward,” she said. “It is to deepen your understanding of the NCC’s quarterly performance data and to equip you with practical insights on how best to integrate these findings into your reporting.”

According to Ukoha, the engagement was designed not only to provide access to raw data but also to offer context that would prevent misinterpretation and improve the quality of information available to Nigerians.

She urged journalists to adopt what the commission terms “constructive framing” when reporting sector performance, stressing that this does not imply downplaying challenges but rather presenting them alongside progress, solutions, investments, and innovations shaping the industry.

“Constructive framing means highlighting improvements in quality of service and experience, recognising the work being done by stakeholders, and supporting industry resilience, while still addressing existing challenges,” she said.

Ukoha added that the quarterly performance reports offer material for daily news coverage, feature stories, investigative reporting, interviews, and sector monitoring tools used by newsrooms.

In separate remarks, the Executive Commissioner, Technical Services, Engr Abraham Oshadami, said the commission’s decision to consistently publish network performance data reflects its belief that transparency strengthens the telecoms ecosystem and reinforces accountability among operators.

“Transparency has become a guiding principle that underpins our regulatory approach,” Oshadami said. “We believe that open access to information strengthens the industry, builds public trust, and ensures that service providers remain accountable to consumers.”

Oshadami noted that the NCC has expanded its data-driven oversight in recent years, including a partnership with network intelligence firm Ookla to develop nationwide network coverage maps that allow consumers to compare network quality across locations and operators.

“As part of this same partnership, we commenced the publication of Quarterly Network Performance Reports to provide consistent, data-driven insights into how networks are performing across the country,” he said.

He recalled that the first report, covering Q3 2025, was published in October last year, adding that the Q4 2025 report builds on that foundation and highlights early gains from regulatory and industry interventions.

“Our collective efforts are beginning to yield positive results,” Oshadami said. “We are observing measurable improvements in network performance and, importantly, in the quality of experience delivered to consumers.”

He said the objective of the media engagement was to explain key findings from the report, clarify performance trends, and ensure stakeholders fully understand what the data reveals about the state of the industry.

The executive commissioner described the media as strategic partners in communicating progress and reform in the sector, urging journalists to engage critically with the data and help amplify stories that reflect both achievements and ongoing challenges.

“Your reporting shapes how Nigerians understand the technologies that power their daily lives,” he said. “It influences investor confidence, consumer trust, and the broader policy conversation.”

The NCC said it would continue to publish quarterly performance data as part of its broader push to strengthen service delivery, improve network quality, and ensure that consumers benefit from sustained improvements in Nigeria’s telecommunications sector

The Nigerian Upstream Petroleum Regulatory Commission has opened 50 oil and gas blocks across five sedimentary basins for bidding and exploration in the 2025 licensing round, warning that only technically competent and financially strong firms will be allowed to scale through the process.

The commission said the exercise is designed to eliminate speculative participation and reposition Nigeria’s upstream sector as a transparent, rules-based destination for long-term investment.

The Chief Executive of the NUPRC, Oritsemeyiwa Eyesan, made this known on Wednesday during the 2025 licensing round pre-bid webinar, where the regulator outlined the framework, evaluation criteria, and commercial terms guiding the bid process.

Eyesan said the licensing round should be viewed as a strategic intervention to grow reserves, improve production, and strengthen Nigeria’s energy security in a rapidly evolving global energy landscape.

“This upstream sector is serious business. It is for long-term investment, and it is an open invitation to partnership, transparency, and shared responsibility as we work together to shape the next phase of Nigeria’s upstream oil and gas industry,” she said.

According to her, the commission has adopted a strictly merit-based approach that places technical competence and financial capacity at the centre of the selection process.

“Only candidates with strong technical and financial credentials, professionalism, and credible plans will move forward. Winners will be chosen through a transparent, merit-based process that takes you from award to exploration, appraisal, and ultimately full production,” Eyesan stated.

She disclosed that the 50 oil and gas blocks on offer are spread across five of Nigeria’s seven sedimentary basins, giving investors access to both frontier and mature terrains.

“In this licensing round, 50 oil and gas blocks across Nigeria are available, allowing investors to access the country’s key basins and create long-term value,” she said.

Eyesan added that, with the approval of President Bola Tinubu, the Commission had reviewed the commercial structure of the bid round to lower entry barriers while discouraging unserious bidders.

She revealed that signature bonuses for the 2025 licensing round have been set within a $3m–$7m range, with greater emphasis placed on work programmes and speed to production.

The CCE said the new structure places greater emphasis on technical capability, credible work programmes, and speed to production, rather than aggressive cash bids, as Nigeria competes for mobile global capital amid tightening energy security and supply.

“With the approval of His Excellency, President Bola Tinubu, signature bonuses for the 2025 licensing round are now set within a value range of $3m–$7m that reduces entry barriers and places greater weight on what truly matters, technical capability, credible work programmes, financial strength, and the ability to deliver production within the shortest possible time,” she said.

According to her, the decision was informed by global capital mobility and the need to make Nigeria competitive in attracting serious, long-term upstream investors.

“This has been done deliberately to increase competitiveness and in response to capital mobility. The upstream sector is serious business. It is for long-term investment, and it is an open invitation to partnership, transparency, and shared responsibility,” Eyesan stated.

The NUPRC boss said the licensing round follows a five-stage process comprising registration and pre-qualification, data acquisition, technical bid submission, evaluation, and a commercial bid conference.

She stressed that the entire exercise would comply strictly with the Petroleum Industry Act 2021, with digital tools deployed to ensure transparency and public accountability.

“Let me emphasise clearly that the bid process will comply with the Petroleum Industry Act, promote the use of digital tools for smooth data access and remain open to public and institutional scrutiny through NEITI and other oversight agencies,” Eyesan said.

She added that all licensing materials had been uploaded on the commission’s portal since December 1, 2025, with dedicated support channels created to respond promptly to investor enquiries.

Eyesan reaffirmed that the entire process would comply fully with the PIA 2021, with extensive use of digital tools to ensure transparency and public scrutiny.

“The bid process will comply strictly with the PIA, promote the use of digital tools for smooth data access, and remain open to public, international, and institutional scrutiny through NEITI and other oversight agencies,” she said.

The NUPRC boss concluded that the 2025 licensing round represents a strategic signal to global investors that Nigeria’s upstream sector has been re-engineered for long-term value creation.

“Let me emphasise clearly that the Nigeria 2025 Licensing Round is not merely a bidding exercise. It is a clear signal of a re-imagined upstream sector, anchored on the rule of law, driven by data, aligned with global investment realities, and focused on long-term value creation,” Eyesan said.

In a technical presentation to participants, the Director of Lease Administration, Exploration and Acreage Management at NUPRC, Amber Ndoma-Egba, said the 2025 licensing round cuts across the Chad Basin, Benue Trough, Anambra Basin, Bida Basin, and the Niger Delta Basin.

He explained that the technical evaluation would focus on subsurface understanding, exploration work programmes, development concepts, sustainability, host community plans, and lifecycle management.

“We look at your understanding of the block, your subsurface evaluation, your exploration work programme, your development and production concept, sustainability, decarbonisation objectives, and host community development. Technically weak firms will not scale through this process.

“We have seven sedimentary basins in Nigeria. We have the Sokoto Basin, the Chad Basin. We have the Benin trough, Bida Basin, Anambra Basin, Benin Basin, and, of course, the mature Niger Delta Basin. This licensing round will take place across five of the seven sedimentary basins,” Ndoma-Egba said.

On commercial terms, Ndoma-Egba disclosed that the Commission, in a bid to support investment, had approved a minimum work performance security of one per cent, although bidders could voluntarily increase it to improve their technical score.

“The Commission Chief Executive, in the spirit of enablement and support for investment, has approved that the minimum work performance security should be one per cent. However, bidders may boost this if they want a higher weighting in their score,” he said.

He said bidders must clearly outline their exploration plans within the initial exploration period, three years for onshore assets and five years for deepwater and frontier blocks.

“We look at your understanding of the block, your subsurface evaluation, your exploration work programme, your development and production concept, evacuation and facilities planning, sustainability, decarbonisation objectives, and host community development

He also confirmed that final winners would emerge based on a weighted combination of technical and commercial scores, in line with the Petroleum Industry Act.

On December 1, 2025, the NUPRC announced the official commencement of the 2025 petroleum licensing round, targeting about $10 billion in new investments.