Aramco, Exxon, BP, Chevron Reap Massive Profits Off Iran Conflict Trump blasts oil firms, accuses them of making too much money Four companies rake in over $65bn in profits Reuters: Dangote refinery to raise $5bn in Oct. listing Emmanuel Addeh in Abuja
Saudi Aramco, ExxonMobil,
Chevron and BP have reported a combined second quarter profit of about $65 billion, as soaring crude
oil prices and refining margins triggered by the Iran conflict delivered windfall earnings for the world’s
biggest energy companies. This came even as consumers across many countries continue to
grapple with higher fuel prices, and US President, Donald Trump, knocked the oil majors for mak-
ing too much money off the Iran Continued on page 8
Oando’s Revenue Jumps 20% to N2.1tn, Profit Rises 8% in H1... Page 7 Wednesday 5 August, 2026 Vol 31. No 11441. Price: N400
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Wike: Amaechi’s Vice Presidency of No Use to Rivers Peoples, Has Zero Electoral Value
Olawale Ajimotokan in Abuja and Blessing Ibunge in Port Harcourt
L-R: Chairman, NELFUND/Founder, Zenith Bank Plc, Jim Ovia, CFR; President Bola Ahmed Tinubu, GCFR; and Managing Director, NELFUND, Mr. Akintunde Oluwole Sawyerr, during a strategic meeting on sustainability and private sector partnership with NELFUND at the Presidential Villa, Abuja, yesterday PHOTO: GODWIN OMOIGUI
Minister of the Federal Capital Territory (FCT), Nyesom Wike, Continued on page 8
Tinubu Approves Up to 80% Pay Rise for 250,000 Armed Forces Personnel New salary scale effective Sept. 1 Brig. Gen. and above get 30% raise, Colonel to warrant officer get 50% Private and sergeant to receive 80% pay rise Annual military wage bill increases from N660bn to N924bn
Senate committee hails President, says fresh move will strengthen anti-terror war
Deji Elumoye and Sunday Aborisade in Abuja
In a major move aimed at boosting troop morale and strengthening Nigeria’s fight against terrorism, banditry and other security threats, President Bola Tinubu has approved salary increases of between 30 and 80 per cent for about 250,000 personnel of the Armed Forces. Presidential spokesperson, Bayo Onanuga, in a statement issued yesterday, disclosed that under the new arrangement, which becomes effective from September 1, 2026, officers above the rank of colonel would enjoy a 30 per cent salary increase. This applies to BrigadierGenerals, Major-Generals, Continued on page 8
AT DELTA ECONOMIC AND INVESTMENT SUMMIT...
L-R: Executive Governor of Delta State, His Excellency Rt. Hon. Sheriff Oborevwori; Vice President of the Federal Republic of Nigeria, His Excellency Senator Kashim Shettima, GCON; and Managing Director/Chief Executive Officer, PremiumTrust Bank, Mr. Emmanuel Efe Emefienim, CON, FCIB, at the Delta State Economic and Investment Summit 2026