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.

The Central Bank of Nigeria has approved a temporary window allowing importers to use expired National Agency for Food and Drug Administration and Control licences for import documentation, offering short-term relief to businesses affected by system changes in Nigeria’s trade processing framework.

In a circular issued on January 26, 2026, by its Trade and Exchange Department and published on the bank’s website on Tuesday, the CBN said authorised dealer banks may continue to process Form M applications with NAFDAC licences that expired on December 31, 2025.

The approval, which takes effect immediately, will run for two months and lapse on February 28, 2026.

The circular, signed by Aliyu M. Ashiru for the Director of the Trade and Exchange Department, read, “The Central Bank of Nigeria wishes to notify all Authorised Dealer Banks and the general public of a temporary dispensation offered by the National Agency for Food and Drug Administration and Control permitting the continued use of NAFDAC licences that expired on 31st December, 2025, for the processing of Forms M for a two-month temporary dispensation ending February 28, 2026.”

The apex bank explained that the approval followed a temporary dispensation granted by NAFDAC and applies strictly to Form M processing during the period. It said the measure was necessitated by operational challenges linked to the migration from the legacy Nigeria Integrated Customs Information System II platform.

According to the CBN, importers have been unable to validate or renew NAFDAC licences since the transition, particularly due to difficulties encountered on the B’Odogwu platform after December 2025.

To ease the bottlenecks and prevent delays in import documentation, the bank directed all authorised dealer banks to continue accepting the affected licences within the approved window.

The CBN stressed that the arrangement itime-bound and urged banks to comply strictly with its terms, noting that the approval would lapse automatically on February 28, 2026. It added that the move is intended to ensure continuity in trade transactions while NAFDAC completes the integration of its systems with the National Single Window.

Earlier in October 2025, The PUNCH reported that the Federal Government announced a decisive step toward digitalising and streamlining the nation’s import and export processes with the formal unveiling of the National Single Window and a new Trade Facilitation Portal.

The initiative, championed by the Minister of Industry, Trade, and Investment, Dr Jumoke Oduwole, is expected to drastically reduce bureaucracy, enhance transparency, and improve Nigeria’s global trade competitiveness.

The National Single Window is a single, centralised digital platform where all stakeholders, including customs and regulatory agencies, importers, and exporters, can submit standardised trade and regulatory documentation.

The government has set a firm target for the National Single Window to become fully operational by the first quarter of 2026, specifically in March 2026.

The Nigerian National Petroleum Company Limited and Chevron Nigeria Limited are planning to increase oil production at their joint venture to 146,000 barrels per day, aiming to boost government revenue.

This was as the NNPC congratulated Chevron, operator of the NNPC Ltd/CNL Joint Venture, on the successful completion of the Awodi-07 appraisal and exploration well located in the shallow offshore western Niger Delta.

According to a statement by the NNPC spokesman, Andy Odeh, the Awodi-07 well was drilled as part of the joint venture’s ongoing efforts to delineate further and unlock hydrocarbon potential within its asset portfolio.

“Drilling operations commenced in late November 2025 and were concluded in mid-December 2025, with all activities executed safely, efficiently, and in strict compliance with approved operational and regulatory standards.

“Following the completion of comprehensive testing, logging, and data acquisition, the well was safely secured, bringing the programme to a successful close. Results from the well are highly encouraging, confirming a significant presence of hydrocarbons across multiple reservoir zones,” Odeh said.

According to him, the outcome represents a notable milestone for the NNPC Ltd/CNL Joint Venture, strengthening confidence in the underlying asset and reinforcing the prospectivity of the area.

The success of Awodi-07, he said, further highlights the effectiveness of disciplined exploration, sound technical evaluation, and the strong operational collaboration between NNPC Ltd and its joint venture partner.

Commenting on the achievement, the Group Chief Executive Officer of NNPC, Bayo Ojulari, commended Chevron for its operational excellence, technical competence, and consistent delivery of value.

Ojulari stated, “The success of the Awodi-07 well further reinforces the strength of the NNPC Ltd/CNL Joint Venture and our shared commitment to responsibly growing Nigeria’s hydrocarbon reserves. This achievement aligns squarely with our strategic priorities of increasing production, enhancing national energy security, and delivering sustainable value for the Nigerian people.”

Also speaking on the milestone, the Executive Vice President, Upstream, NNPC Ltd, Mr Udy Ntia, described the Awodi-07 results as a clear demonstration of the value of sustained collaboration, technical rigour, and a stable, enabling operating environment.

According to him, the discovery underscores the importance of disciplined exploration programmes, strong partnerships, and the positive impact of the reforms introduced under the Petroleum Industry Act.

“We look forward to working closely with Chevron Nigeria Limited to mature this opportunity and progress it towards timely development and monetisation,” Ntia said.

Odeh added that NNPC and Chevron work together under a joint venture agreement to operate several oil and gas fields in Nigeria’s Niger Delta.

“In this partnership, Chevron owns 40 per cent of the assets, while NNPC Limited holds the remaining share. The arrangement allows both companies to combine resources, expertise, and investment to develop Nigeria’s oil and gas resources more effectively.

“Through this collaboration, the partners aim to increase oil production to about 146,000 barrels per day, which would support government revenue, create jobs, and contribute to the country’s energy supply,” he stated.

Analysts have highlighted stalled budgetary progress and pre-election politicking as some of the top risks to the upward review in the growth projections for Nigeria in 2026, as done by the International Monetary Fund in the past week.

The PUNCH reported that the International Monetary Fund projected that Nigeria’s economy will grow by 4.4 per cent in 2026 in the January 2026 edition of its biannual World Economic Outlook. According to its latest report, the IMF hinged growth across sub-Saharan Africa on Nigeria, as the sub-region is expected to strengthen to 4.6 per cent in 2026 and 2027.

“Growth is also expected to accelerate in sub-Saharan Africa, from 4.4 per cent in 2025 to 4.6 per cent in 2026 and 2027, supported by macroeconomic stabilisation and reform efforts in key economies,” the report partly read.

The IMF’s 2026 revised growth projection for Nigeria of 4.4 per cent broadly aligns with Afrinvest’s estimate of 4.3 per cent as captured in its 2026 Macroeconomic Outlook Report.

The projections by Afrinvest were predicated on what it considered to be ongoing strategic private-sector investments in telecommunications (5G network investments by MTN Nigeria and Airtel Africa), oil & gas (Dangote refinery expansion and Tony Elumelu’s acquisition of a majority stake in SEPLAT), agriculture (KONIG Agriculture Ltd’s $42.0m mid-term investment in Ondo State), and finance & insurance (sector-wide recapitalisation) alongside carry-trade inflow prospects (with Nigeria’s elevated yields expected to attract high-yield-seeking foreign portfolio investors from Advanced Economies), which will be pivotal to Nigeria’s economic narrative in 2026.

EnterpriseNGR, a member-led professional policy and advocacy group, also projected a 4.49 per cent growth, which it said reflects a broad-based expansion across services, agriculture, trade, and telecommunications.

Highlighting the risks to the upward review, Afrinvest, in its weekly market research, said, “We are concerned that poor management of global geopolitical alignments, heightened pre-election politicking, and stalled budgetary progress (with the proposed N58.2tn 2026 budget yet to be ratified and passed) could materially undermine the growth outlook, given other subsisting structural constraints such as insecurity and weak infrastructure.

“The projected subdued global trade outlook for 2026 (with volume growth weakening to 2.6 per cent from 4.1 per cent in 2025) could further hurt Nigeria’s macroeconomic prospects, given that net receipts from crude oil, which account for about 85.0 per cent of total exports, are expected to contribute roughly 35.6 per cent of the FG’s targeted N34.3tn in budgeted revenue.

“Overall, we emphasise that effective fiscal management, de-escalation of the domestic political environment, and the rollout of people-centric policies with the potential to drive sustainable and inclusive growth will be paramount for Nigeria to navigate evolving global and domestic risks in the immediate and near term.”

The PUNCH reports that President Bola Tinubu presented a 2026 Appropriation Bill of N58.18tn to the National Assembly, and the budget has yet to be passed into law. Expected revenue stood at N34.33tn, capital expenditure is estimated at N26.08tn, while recurrent non-debt expenditure stands at N15.25tn. Debt servicing is projected at N15.52tn, with a budget deficit of N23.85tn.

EnterpriseNGR also holds a positive view of the oil & gas sector, saying, “The oil sector is also anticipated to make modest gains with improved security and operational stability. This assumes continuity of recent reforms in fiscal management, foreign exchange liberalisation, and infrastructure investment. Nigeria’s crude oil production is expected to average 1.5 million barrels per day in 2026. Brent crude prices are projected to remain in the $61 per barrel range, with Nigerian Bonny Light crude typically trading at a slight premium due to its high quality. This balances production capacity, security considerations, and global market trends, while also factoring in the impact of domestic refining and planned production expansion.

“Nigeria’s oil sector is set for steadier performance in 2026, aided by domestic refining expansion and stable prices.”