Business

Warri Kingdom, T’suut’ina Nation Calgary Canada Enter Trade, Investment Pact

Published

4 years ago

June 4, 2022

Editor

The Olu of Warri Kingdom, His Royal Majesty, Ogiame Atuwatse III, Tsuut’ina Nation Calgary Canada has entered into a bilateral investment understanding to partner in the area of renewable energy, agriculture, trade and cultural exchange.

This memorandum of understanding was reached Thursday on the second day visit of the Monarch to Canada during a round table discussion with business leaders and investors where they expressed commitment to explore to partner for mutual interest.

A statement released by his Media Relations, Ifetayo Adeniyi Moses, said, the monarch who was accompanied on the investment drive trip by his wife, Olori Atuwatse lll, high palace chiefs and other delegations also highlighted the rich potential of Warri Kingdom.

The statement added that Otuase III harped on the need by all stakeholders to close ranks to address environmental degradation and the impact of climate change.

According to the statement, the respected monarch also embarked on a guided tour of T’suut’ ina nation in company of Andrew JR Onespot Xakiji Sidodi, stating that they both share cultural similarities with Itsekiri nation.

Ifedayo noted that an elated Ogiame who gladly accepted the partnership said it’s historic between T’suut’ina Nation and Warri kingdom because it has never happened in any nation among Africa continent.

The statement reads: “After the tour of T’suut’ina Nation, in conclusion, Representatives of chiefs Andrew JR Onespot Xakiji Sidodi called on Executive Program Coordinator OZ consult, Ms Abi Goodman where the decision of the partnership was communicated to her.

“T’suut’ina Nation has agreed to partner Warri kingdom to First Nation of Canada so that the kingdom will benefit from trade , investment, exchange of cultural activities and educational assistance to the good people of Warri Kingdom.

“The decision was well applauded by Ogiame and the delegation. It was also made known that a later date will be communicated to perfect agreement“

Business

Naira Records Depreciation Against US Dollar Across Official, Black Markets

Published

9 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.