Reuters: Approval for TotalEnergies’ $860m Asset Sale to Chappal Revoked by NUPRC Emmanuel Addeh in Abuja
TotalEnergies’ sale of a minority stake in a Nigerian
onshore oil producer has failed, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) told Reuters
yesterday, a setback to the TotalEnergies had reached French oil major’s strategy to an agreement to offload its sell mature, polluting assets 10 per cent stake in the Shell and pay down debt. Petroleum Development Com-
pany (SPDC) joint venture in Nigeria to Chappal Energies in a deal valued at about $860 million.
The stake covered interests in several oil-producing licenses as well as gas asContinued on page 9
FIRS Chair, Zacch Adedeji Justifies External Borrowing Amid N3.64tn Revenue Boost... Page 9
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2025 Fidelity International Trade and Creative Connect...
L-R: Managing Director/Chief Executive Officer, Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe,OON; Mayor of Atlanta, Georgia, Andre Dickens; and Executive Director, South, Fidelity Bank Plc, Mrs. Pamela Shodipo at the 2025 Fidelity Nigeria International Trade and Creative Connect (FNITCC) held in Atlanta, Georgia over the weekend.
Monetary Easing Begins as CBN Cuts MPR to 27%, Cites GDP Growth, Falling Inflation Cardoso: Our goal is to achieve single-digit inflation, declares 14 banks have fully met new capital thresholds
James Emejo in Abuja, Nume Ekeghe and Dike Onwuamaeze in Lagos The Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC), yesterday, kick-started monetary easing with a cut in the Monetary Policy Rate (MPR) by 50 basis points to 27 percent, from the 27.50 percent it was previously, citing sustained disinflation and stronger Gross Domestic Product (GDP) growth for the second quarter 2025, released on Monday. The move the central bank signaled a shift towards supporting economic expansion. Continued on page 9
WIKE’s SON’S CALL TO BAR CEREMONY...
R-L: Wife of the Federal Capital Territory Minister and Appeal Court Judge, Justice Eberechi Suzzette Wike; FCT Minister, Nyesom Wike; his son, Jordan; and daughter, Jasmine, at Jordan’s Call to Bar ceremony in Abuja, yesterday