Business

Investor Moves To End Land Grabbing In Edo

Published

3 years ago

June 6, 2022

Editor

The Managing Director of GlobaKey Investment ltd and Diamond Estate, Osazee Edigin, says his venturing into real estate is to nip land grabbing and cushion the effects of housing deficits in Edo State.

He said this while allocating lands to subscribers of the Diamond Estate in Evborohun community in Oredo local government area of the state.

Edigin said issue of land grabbing and sales of a parcel of land to multiple buyers has remained a teething problem for quite a long time adding that this has contributed immensely to housing deficits in the state.

He said with the move of people buying land from a registered body, guarantees its safety.

“We have actually come to open this community by putting an estate here and also encouraging our people to own their property.

“Today, we came for plot allocation to all our subscribers in Evborohun community in Oredo ward 2.

” We want to ensure that people no longer have the issue of land grabbing, the issue of community trouble, the issue of underdevelopment in the state.

” What we have done today is to create that platform for Edo people not to be worried when they buy lands from a reliable company like ours and we have come to partner with Edo people to ensure that we have a mini city here that will give them rest of mind”, he said.

For Mrs Akhimien Martha, one of the subscribers, she said she is fulfilled while calling on other Nigerians to invest in landed property noting that it is a risk worth taking.

Business

Naira Records Depreciation Against US Dollar Across Official, Black Markets

Published

8 hours ago

December 2, 2025

Editor

The naira depreciated against the dollar at the official and parallel foreign exchange markets on Monday to begin the new month on a bearish note.

Central Bank of Nigeria’s data showed that the Naira weakened to N1,448.44 on Monday, down from N1,446.74 traded on Friday last week.

This means that the naira dropped by N1.7 against the dollar on Monday when compared to Friday.

Similarly, at the black market, the Naira declined by N5 to N1,475 on Monday from N1,470 at the close of work last week.

The development comes as Nigeria’s foreign reserves stood at $44.61 billion as of November 27th, 2025.

Business

NNPCL Revenue, Profit Soar To N5.08tn, N447bn In October

Published

3 days ago

November 29, 2025

Editor

The Nigerian National Petroleum Company Limited has announced a significant revenue increase to N5.078 trillion for October 2025.

The state-owned firm disclosed this in its monthly financial report released on Saturday.

According to the financial report, from N5.078 revenue in October, the company posted a N447 profit after tax.

The figure represents a significant 19.2 percent increase in revenue from N4.26 trillion and a 106 percent rise in PAT from N216 billion in September 2025.

The report stated that from January to September, NNPCL paid N11.150 trillion in statutory payments to the federation.

Four days ago, NNPCL posted a total of N45.1 trillion as total revenue for the 2024 financial year.

Business

NNPCL Reveals Reason Behind N5.4trn Profit After Tax

Published

3 days ago

November 29, 2025

Editor

The Group Chief Executive Officer of Nigerian National Petroleum Company Limited, NNPCL, Bayo Ojulari, has explained that the state-owned firm’s N5.4 trillion profit after tax declaration in its 2024 financial statements indicates that the country has begun to reap the benefits of the Petroleum Industry Act.

He made this explanation in an interview released on NNPCL’s X account on Friday.

Recall that NNPCL declared a significant N5.4 trillion PAT from a total revenue of N45.1 trillion in 2024.

Reacting, Ojulari said the earnings result demonstrated the state-owned firm’s commitment to transparency.

“This earning is our first step in going out there to make ourselves more visible and demonstrate our commitment towards transparency. The profit of N5.4 trillion is quite significant. What that indicates is that we are beginning to reap the benefits of the Petroleum Industry Act.”

According to DAILY POST, since Ojulari’s appointment in April 2025, NNPCL has been consistent in making its monthly financial records public.