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Government Approves ₦1bn Revolving Fund For MSMEs In Delta

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MSMEs

Government Approves ₦1bn Revolving Fund For MSMEs In Delta

Government approves ₦1bn revolving fund for MSMEs in Delta. The Delta State Government has approved a ₦1 billion revolving fund to be managed by the Bank of Industry (BOI), offering loans at a single-digit interest rate to support Micro, Small, and Medium Enterprises (MSMEs) across the state.

The State Commissioner for Economic Planning, Sonny Ekedayen, announced this during a post-Executive Council (EXCO) briefing at Government House, Asaba, on Thursday.

Ekedayen stated that the initiative is designed to boost entrepreneurship, create jobs, and stimulate economic growth by providing accessible financing to small business owners at affordable rates.

“This is exciting news for MSMEs, manufacturers, hoteliers, and small-scale industries in Delta State. The Exco has approved a ₦1 billion managed fund with the Bank of Industry—another laudable achievement of the Oborevwori-led administration,” he said.

He emphasized that the low-interest loan would help businesses expand operations, improve productivity, and sustain growth.

“Many businesses struggle due to high prime lending rates, which are around 30%. However, this initiative guarantees business owners access to a single-digit interest loan from the Bank of Industry,” Ekedayen explained.

He further clarified that the fund is a loan, not a grant, and will be available to serious-minded entrepreneurs with a proven track record. The repayment period will range from one to five years, with a flexible moratorium period.

Delta State Medium-Term Development Plan Approved

MSMEs

MSMEs

The commissioner also announced the approval of the Delta State Medium-Term Development Plan (2024-2027), which will serve as the strategic framework for project approvals and implementation under the Governor’s MORE Agenda.

“This document encapsulates the Governor’s vision and mission and will guide government spending—all without borrowing,” he added.

Economy

NNPC Ltd. HSE Chief Sets Tone For Industry-Wide Safety Standards

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NNPC's Mass Sack

NNPC Ltd. HSE Chief Sets Tone For Industry-Wide Safety Standards

NNPC Ltd.’s Chief Health, Safety and Environment Officer, Tonye Alagba, has urged Health, Safety and Environment (HSE) personnel across the company to strengthen collaboration and build a unified HSE team.

Alagba, who made the call at the recent First Quarter 2026 HSE Council Meeting held in Abuja from 15th to 17th April, 2026, called for collective responsibility, strict compliance, and proactive prevention of HSE violations across all business units.

NNPC's Mass Sack

NNPC

NNPC Ltd. values strict HSE adherence across all its businesses and operations. The HSE Council Meeting signals the company’s broader intent to raise the bar for safety culture across Nigeria’s energy sector.

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Economy

NNPC, SNEPCo, NCDMB Donate Geosciences Centre To UNILAG

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SNEPCo

NNPC, SNEPCo, NCDMB Donate Geosciences Centre To UNILAG

NNPC Limited, in partnership with Shell Nigeria Exploration and Production Company Limited (SNEPCo), the Nigerian Content Development and Monitoring Board (NCDMB), and the University of Lagos (UNILAG), commissioned and donated the newly built UNILAG Geosciences Centre of Excellence to the University on Friday.

Purposely built to strengthen geosciences education and research in Nigeria, the Centre was inaugurated by the Chief Upstream Investment Officer of NNPC Upstream Investment Management Services Ltd. (NUIMS), Olanrewaju Igandan, alongside the Managing Director of SNEPCo, Ronald Adams; Director of Capacity Building (NCDMB), Abayomi Bamidele; Lagos State Commissioner for Tertiary Education, Tolani Sule; and the Vice-Chancellor of UNILAG, Professor Folasade Ogunsola.

The Centre boasts of a 250-seat auditorium, geoscience and instrumentation laboratories, a rock preparation workshop, hydrogeology, mineralogy, environmental geology, sedimentary and palaeoenvironmental sciences laboratories, a seismic interpretation room, a modern library, a digital museum, and collaborative spaces for students and researchers. It is also supported by a 600 kVA transformer, a 40 kVA solar power facility, and a field investigation coaster bus.

SNEPCo

SNEPCo, NNPC

By connecting academia, industry, and government under one roof, the Centre provides Nigerian students and researchers with hands-on access to modern energy tools, reduces the oil and gas industry’s reliance on international markets for testing and training, and builds the in-country expertise Nigeria’s energy sector needs.

NNPC Limited remains committed to driving capacity building, supporting national development, and working with partners to secure a stronger energy future for Nigeria.

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Economy

NNPC: Ministers Chart Course Gor West African Gas Pipeline (WAGP)

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(WAGP)

NNPC: Ministers Chart Course Gor West African Gas Pipeline (WAGP)

The Committee of Ministers for the West African Gas Pipeline Project met in Abuja on Friday, reaffirming its central role in West Africa’s regional energy agenda.

The meeting brought together ministers and high-level representatives from Nigeria, Benin, Togo, and Ghana, alongside officials from ECOWAS, the West African Gas Pipeline Authority (WAGPA) and West African Gas Pipeline Company Limited (WAPCo).

Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, who opened the meeting, reaffirmed Nigeria’s commitment to the long-term sustainability and expansion of the pipeline, adding that since its inception, the WAGP has transported over 613 million MMBtu of natural gas, with Nigeria accounting for more than 68 per cent of total volumes supplied to Benin, Togo, and Ghana.

(WAGP)

NNPC

 

On his part, NNPC Limited’s Executive Vice President, Gas, Power & New Energy, Olalekan Ogunleye, emphasised the company’s active stewardship of Nigeria’s gas export commitments and its broader role in shaping regional energy cooperation across West Africa.

With gas throughput reaching approximately 80 million MMBtu in 2025, a 22 per cent rise on prior years, and discussions advancing on expanding pipeline capacity utilisation by 45 per cent in 2026, NNPC Limited remains at the centre of efforts to grow a credible, commercially viable regional gas market.

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