TotalEnergies’ Global CEO Hails Gbenga Komolafe for Restoring Investors’ Confidence, Pledges Additional Investment in Nigeria Emmanuel Addeh in Abuja The President and Chief Executive Officer of TotalEnergies worldwide, Patrick Pouyanne, has commended the Chief Executive of the Nigerian
Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, for restoring investors’ confidence in the Nigerian upstream sector. Pouyanne, who commended the
NUPRC boss during a meeting they both held at the Commission's headquarters in Abuja, also pledged billion dollar investments in Nigeria’s oil and gas sector. According to a statement in
Abuja, by the NUPRC, the meeting focused on key issues surrounding divestment, investment, and regulatory consent. It added that during the meeting, parties discussed ongoing initiatives
related to the Shell Petroleum Development Company Joint Venture (SPDC JV) deal which covered the deal’s current status and its potential implications for future investment opportunities in
Nigeria's upstream petroleum sector. During the visit, Pouyanne expressed his company's interest in exploring additional areas of Continued on page 5
In Final Sprint for White House, Harris, Trump Woo Undecided, Latinos, First-time Voters...
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Saturday November 2, 2024 Vol 29. No 10797
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Obaseki Launches Edo Digital Policy, Inaugurates Nigeria’s First State-owned Data Centre...
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Six Big Banks Rake in N4.15tn Profit in First Nine Months of 2024
Kayode Tokede
Amid macroeconomic challenges facing the Nigerian economy, Zenith Bank Plc, Guaranty Trust Holding Company Plc (GTCO), Access Holdings Plc, United Bank for Africa Plc (UBA), FBN Holdings
Plc and Ecobank Transnational Incorporated (ETI) generated an estimated N4.15 trillion profit before tax in the first nine months of 2024. According to data compiled by THISDAY, the aforementioned amount raked in by the financial institutions, was about 110.4 per
cent increase, compared with the total of N1.97 trillion profit before tax generated by the banks in nine months of 2023. The figures were compiled from the respective nine months unaudited financial statement of the financial institutions released to
the investing public on the Nigerian Exchange Limited (NGX). After paying an accumulative N789.88 billion income tax expenses in nine months of 2024, THISDAY gathered that the six deposit money banks (DMBs) generated N3.91 trillion profit after tax in nine
months of 2024, a growth of 104 per cent compared with the total of N1.92 trillion reported by the banks in nine months of 2023. So far in 2024, these DMBs are faced with a range of challenges stemming from both domestic economic factors and global
financial trends. Notable challenges include currency volatility and foreign exchange shortages, double-digit inflation that is currently at 32.70per cent as at September 2024; rising Continued on page 5
Tinubu: Tax Reform Bills Will Go Through Legislative Process in National Assembly Insists bills require further stakeholders’ consultations Rejects advice to withdraw proposed legislations Arewa think-tank backs president’s reform, other policies Deji ElumoyeinAbujaandSunday Ehigiator inLagos President Bola Tinubu yesterday, reacted to the National Economic Council's (NEC) recommendation during its meeting on Thursday at the State House, Abuja, that the four tax reform bills already sent to the National Assembly be withdrawn for further consultation. The President, according to a statement issued by his Adviser on Information and Strategy, Bayo Onanuga, while commending the NEC members, especially Vice President Kashim Shettima and the 36 State Governors, for their advice, however, believed that the legislative process, which has already begun, provides an opportunity for inputs and necessary changes without withdrawing the bills from the National Assembly. The development emerged as a notable Northern group, the Arewa Think Tank (ATT) threw its weight Continued on page 5
PAYING FINAL RESPECTS TO LATE IWUANYANWU… L-R: Governor Hope Uzodimma of Imo State; his wife, Chioma Uzodimma; former First Lady, Mrs. Patience Jonathan; National Chairman, All Progressives Congress (APC), Abdullahi Ganduje, and Secretary to the Government of the Federation, George Akume, at the funeral service held for the late President General of Ohaneze Ndigbo, Chief Emmanuel Iwuanyanwu, in Atta, Ikeduru Local Government Area, Imo State…yesterday
FG Intervenes After Outrage Over Detention of Underage Protesters...
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Kaper Jesse Legacy (2024) by Fred Ebami. Courtesy of Galerie MAM
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