Category Archives: Business

Six reasons why fresh, locally sourced food is a game-changer for your Nigerian business

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In a country as vibrant and diverse as Nigeria, the food industry is a cornerstone of our culture and economy. From the bustling food markets of Lagos to the farm-to-table restaurants in Abuja, what we eat and how we source it matters. If you’re a business owner in the food space—be it a restaurant, a catering company, a food-based startup, or even a grocery store—the secret ingredient to success might be closer than you think: fresh, locally sourced food.

Beyond just a trend, embracing local produce is a strategic business move that can transform your operations, elevate your brand, and connect you with your community. Here are six reasons why shifting to local is a game-changer for your business in Nigeria.

1. Superior Quality and Flavor

Let’s start with the most important point for any food business: the taste. Locally sourced food, especially from small-scale farms, is often harvested at the peak of ripeness and delivered to you within a shorter timeframe. Think about the difference between a tomato that’s traveled across continents and one picked from a farm in Ogun State just yesterday. The local tomato is juicier, sweeter, and more vibrant. This freshness translates directly into superior flavors in your dishes, which your customers will notice and appreciate. Using high-quality, fresh ingredients elevates your menu and sets you apart from the competition.

2. Boosted Brand Image and Storytelling

Nigerian consumers are increasingly conscious about where their food comes from. Highlighting your commitment to local sourcing gives your business a powerful and authentic story. You can proudly tell your customers that the yam in their porridge comes from a farmer in Oyo State or that the leafy greens in their salad are from a co-operative in Kaduna. This narrative of supporting local communities and celebrating Nigerian agriculture resonates deeply with people. It builds trust, loyalty, and a positive brand image that extends beyond just the food you serve.

3. Reduced Costs and Improved Profitability

While it might seem counterintuitive, sourcing locally can significantly cut down your business expenses in the long run. By bypassing long supply chains, intermediaries, and import duties, you can often negotiate better prices directly with farmers and suppliers. Furthermore, using seasonal, local produce means you’re buying food when it’s most abundant and therefore, at its cheapest. This allows you to create a dynamic, cost-effective menu that adapts to what’s available, ultimately improving your profit margins.

4. Reliable Supply Chain

Anyone in the food business knows the frustration of delayed shipments and unpredictable supply. Relying on imports can expose your business to a host of risks, from port congestion and customs delays to international market fluctuations. By building relationships with Foodstuff Store that has credible connections with local farmers and suppliers, you create a more resilient and reliable supply chain. You can have a direct supply, ensuring a consistent flow of fresh produce and a more stable business operation. This is especially crucial for managing inventory and planning your menu efficiently.

5. Supporting the Nigerian Economy

Every naira you spend on local produce circulates within the Nigerian economy. You’re not just buying ingredients; you’re investing in the livelihoods of Nigerian farmers, transporters, and market vendors. This has a ripple effect, strengthening local communities and contributing to the country’s economic growth. For many Nigerian consumers, supporting local is a source of national pride, and they will be more likely to patronize businesses that share this value. It’s a win-win situation – your business thrives, and so does the community around you.

6. Creative Menu Innovation

Moving away from a static, import-heavy menu and embracing local, seasonal ingredients opens up a world of culinary creativity. You’re challenged to innovate and develop new, exciting dishes based on what’s available. Imagine creating a menu that celebrates the unique flavors of mango season, or a special that highlights the best of what the rainy season has to offer. This allows you to introduce unique, limited-time offerings that keep your customers intrigued and coming back for more, adding a dynamic and exciting element to your business.

In the competitive landscape of Nigeria’s food industry, differentiation is key. Shifting to fresh, locally sourced food isn’t just a feel-good decision—it’s a smart business strategy. It’s a move that promises better quality, stronger branding, improved profitability, and a deeper connection to the community you serve. So, whether you’re a budding restaurateur or an established caterer, it’s time to look homeward for your ingredients. Your business, your customers, and the Nigerian economy will thank you for it.

The strategic role of long-term storage in maintaining food quality, availability

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Nigeria’s agricultural cycles are deeply connected to its seasons. The transition from the rainy season, with lush harvests, to the dry, festive “Ember” months marks a critical period for food security and economic stability. During this time, the demand for food items surges due to holidays, celebrations, and increased social gatherings. For Nigerian farmers, businesses like food vendors and restaurants, and individual households, the strategic role of long-term food storage becomes paramount in navigating this period of high demand and potential price volatility.

For farmers, long-term storage is a direct antidote to post-harvest losses, a significant challenge that plagues the agricultural sector in Nigeria. Estimates suggest that a substantial percentage of total agricultural production—especially for perishable goods—is lost after harvest due to inadequate storage and processing facilities. This not only represents a financial loss for the farmer but also contributes to food scarcity and inflated prices in the market. By embracing effective storage practices, farmers can preserve their produce, such as grains (maize, rice, sorghum), tubers (yam, cassava), and even vegetables, beyond the harvest season. 

Traditional methods, such as storing unthreshed cereals in mud rhombus or using local granaries, have been practiced for generations, but modern and improved techniques are now essential. Technologies like hermetic bags and silos, developed by institutions like the Nigerian Stored Products Research Institute, offer superior protection against pests, moisture, and spoilage, allowing grains to be stored for years without significant quality loss. This transforms a farmer’s yield from a seasonal commodity to a year-round asset, enabling them to release their produce into the market during off-season periods when prices are more favorable, thereby increasing their income and optimising their profits.

The benefits of long-term storage extend well beyond the farm gate to the bustling world of food businesses. For food vendors and restaurants, the Ember months are a period of heightened activity. Weddings, parties, and festive celebrations mean a constant need for a stable supply of food ingredients. The smart business owner knows that waiting to buy ingredients during this high-demand period is a recipe for disaster. The seasonal nature of certain crops and the general inflation that characterises the Ember months can lead to unpredictable prices and supply shortages. 

Read Also: Prices of food commodities crash in Kaduna 

To mitigate this risk, these businesses can strategically buy and store food items in bulk when they are in season and at their most affordable. For example, purchasing large quantities of rice, beans, palm oil, and pepper during harvest season allows them to lock in lower costs. Proper storage, whether through refrigeration, freezing, or using airtight containers for dry goods, ensures the quality and freshness of these ingredients are maintained. This practice not only safeguards their profit margins but also ensures they can consistently meet customer demand without being at the mercy of market fluctuations. It provides a competitive edge, allowing them to offer stable prices and reliable service to their clientele.

At the household level, long-term food storage is a crucial element of family budgeting and food security, especially with the rising cost of living. Nigerian families often engage in “foodstuff shopping” in bulk, a practice that becomes particularly important in the lead-up to the festive season. This involves buying staple foods like garri, rice, beans, and yams in large sacks or quantities. The storage of these items requires careful consideration to prevent spoilage. For example, storing garri and beans in airtight containers to ward off weevils and keeping tubers like yam in a cool, dry, and well-ventilated space are common practices. 

For perishable items, families leverage technologies like freezers and refrigerators to preserve meat, fish, and vegetables for an extended period. This proactive approach ensures that the family has a stable food supply, reducing the stress of daily market visits and protecting them from the inevitable price hikes that accompany the Ember period. It is a time-tested strategy for economic resilience and self-sufficiency.

The strategic role of long-term food storage in Nigeria is truly undeniable. It is a practice that empowers farmers by minimising post-harvest losses and enhancing profitability. It provides businesses with the stability and security needed to thrive during peak seasons, allowing them to maintain service quality and control costs. For families, it is a tool for smart financial management and ensuring food availability. While traditional methods have long been a part of Nigerian culture, there is an increasing need to integrate modern, scalable, and affordable storage technologies. By investing in and promoting effective storage solutions, Nigeria can strengthen its food value chain, reduce food insecurity, and build a more resilient and prosperous agricultural economy.

IIF opens nominations for the 2025 annual awards for impact investing

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…celebrating changemakers advancing social and environmental impact

The Impact Investors Foundation (IIF), Nigeria’s leading platform for advancing impact investing, has announced the call for nominations for its 2025 Annual Awards for Impact Investing. Now in its seventh year, the Awards celebrate outstanding organisations and individuals whose investments, products, services, or programmes have created measurable social and environmental value while driving sustainable business growth.

The 2025 Award recipients will be recognised at the prestigious IIF Annual Dinner and Awards Ceremony, which will take place during the 8th Annual Convening on Impact Investing on November 6, 2025, in Lagos.

Speaking on the announcement, Ms. Etemore Glover, CEO of the Impact Investors Foundation, said, “Over the years, these awards have spotlighted pioneers who demonstrate that capital can and must deliver more than financial returns. By recognising these leaders, we aim to inspire others to embed impact into their business and investment strategies and strengthen Nigeria’s journey toward becoming a thriving impact economy.”

Read Also: Wema named best digital bank at Euromoney awards 2025

Since inception, the IIF Annual Awards have celebrated bold visionaries, innovative enterprises, and resilient changemakers working across diverse sectors such as healthcare, education, agriculture, gender inclusion, and financial services. The 2024 awardees include Alitheia Capital Management, FAMASI Africa, and the Centre for Legal Support and Inmates Rehabilitation (CELSIR), all of whom are making tangible contributions to social progress.

The 2025 Awards continue this tradition of honouring changemakers who are proving that entrepreneurship, investment, and social good can go hand in hand.

Nominations are open to individuals and organisations across Nigeria and West Africa that can demonstrate measurable impact and a commitment to advancing inclusive, sustainable growth. Interested nominees should visit the IIF Awards website to review eligibility criteria and submit entries by September 30, 2025.

The IIF remains committed to eliminating barriers to impact investing by building an effective ecosystem that nurtures investment pipelines, unlocks private capital, and fosters sustainable impact.

For sponsorship and partnership inquiries:
Chizoba Ada Emmanuel-Awakessien coo@impactinvestorsfoundation.org

Okonjo-Iweala meets CBN Gov Cardoso over trade matters in Abuja

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The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, on Thursday, August 14, 2025, hosted the Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, at the Bank’s headquarters in Abuja.

The meeting, confirmed in a statement posted on CBN’s official X (formerly Twitter) account, was themed “Discussing Trade Matters.”

Read Also: CBN sanctions 9 banks for failing to dispense cash via ATMs

According to the post, the session was also attended by the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, and Nigeria’s Ambassador to the WTO, Amb. (Dr.) Adamu Abdulhamid.

Although the discussions were held behind closed doors, they centered on trade-related issues and Nigeria’s engagement with global markets.

Formal details of the talks are expected to be released in due course.

AfDB commits $40m to drive AGIA green infrastructure fund

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 The African Development Bank (AfDB) has committed 40 million dollars to the Alliance for Green Infrastructure in Africa Project Development Fund (AGIA-PD), anchoring the Fund’s first close of 118 million dollars.

AfDB Vice President for Private Sector, Infrastructure and Industrialisation, Mr Solomon Quaynor, made this announcement in a statement on Saturday.

Quaynor said the milestone marked a major step in mobilising blended finance to deliver investment-ready green infrastructure projects across the continent.

According to him, the initiative will help accelerate Africa’s transition to a low-carbon and climate-resilient economy.

“The AfDB’s contribution comprises 20 million dollars in grants, 10 million dollars in commercial equity, and 10 million dollars in junior equity from the Sustainable Energy Fund for Africa, which it administers,” he said.

He noted that the Bank’s support was designed to de-risk early-stage projects and attract private sector capital.

“Through the 40 million dollars package spanning grants, junior equity, and commercial equity, the AfDB is pioneering a comprehensive approach to unlock Africa’s vast green infrastructure potential.

“This investment is a bold declaration that the Bank stands ready to share early-stage risk alongside our partners, while mobilising billions in private-sector investment,” Quaynor added.

Africa50 CEO, Mr Alain Ebobissé, said the first close demonstrates AGIA’s shift from ambition to execution since its launch at COP27.

Read Also: AfDB secures N3.4trn for agro-industrial processing in Nigeria

“By unlocking early-stage capital, AGIA will accelerate the development of bankable projects, strengthen local capacity, and pave the way for a more sustainable and prosperous Africa,” he said.

UK Minister of State for Development, Ms. Jenny Chapman, said Britain’s contribution would support African-led solutions in vulnerable communities.

“We are partnering with countries to unlock private investment in the places hardest hit by climate change.

“This will support solar farms, water treatment plants, and other projects that help build stronger, climate-resilient economies,” Chapman said.

Christine de Barros Said, Head of Cooperation at the German Embassy in Maputo, said Germany, through its development bank KfW, was contributing 26 million euro to spur investment.

“AGIA identifies and develops projects until they reach creditworthiness, then sells them to investors.

“This generates vital investments in renewable energy, transport, water, and digitalization, sectors Africa urgently needs to foster growth and create jobs,” she explained.

President of the West African Development Bank (BOAD), Mr Serge Ekue, said his institution’s involvement reaffirmed its commitment to bridge the infrastructure gap in the region.

“BOAD’s commitment to supporting Africa50 in implementing AGIA underscores our dedication to closing Africa’s infrastructure gap and fostering private sector investment in innovative projects,” he said.

Mr Mark Gallogly, Co-founder of the Three Cairns Group, highlighted the challenge AGIA aimed to solve: “The lack of bankable projects remains a persistent barrier to scaling clean energy and climate-resilient infrastructure.

“AGIA’s first close marks a significant milestone in tackling the challenge,” Gallogly noted.

Ms. Georgia Keohane, CEO of the Soros Economic Development Fund, described AGIA as a vital Africa-led initiative.

“The Soros Economic Development Fund is proud to support AGIA, a critically important partnership catalysing transformative projects that enhance climate resilience and drive inclusive, sustainable development,” she said.

Jointly led by the AfDB, African Union Commission, and Africa50, the AGIA initiative aims to raise 500 million dollars to unlock a 10 billion dollars pipeline of infrastructure projects across energy, sustainable transport, water, and ICT sectors.

(NAN)

AfDB secures N3.4trn for agro-industrial processing in Nigeria

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 Africa Development Bank (AfDB) and its partners have mobilised 2.2 billion dollars (about N3.4 trillion) to implement special agro-industrial processing zones in Nigeria.

Dr Akinwumi Adesina, the outgoing President of AfDB disclosed this in a paper presented at the 2025 Standard Chartered Bank Africa Summit recently held in Lagos.

In a copy of the presentation obtained by the News Agency of Nigeria (NAN), Akinwumi said the fund would be deployed to implement the phase two of the special agro-industrial processing zones covering 24 states.

He recalled that the bank and its partners had supported the launch of the special agro-industrial processing zones in the first eight States – Ogun, Oyo, Cross Rivers, Imo, Kaduna, Kwara, Kano and the Federal Capital Territory-.

Adesina, a former Minister of Agriculture and Food Security, said the initiative would revolutionise Nigeria’s agricultural sector by enhancing food security, boosting domestic production and creating thousands of employment.

According to him, investments are needed to unlock the agricultural potential in Nigeria and Africa in general, especially for value addition to agricultural commodities.

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To achieve that, he emphasised the need for the development of industrial platforms that would allow the continent to move up the agricultural value chains.

“The AfDB is investing massively in the development of Special Agro-industrial Processing Zones across Africa, enabled with infrastructure to support the establishment of industries to process and add value across a wide range of agricultural products.

“The bank has committed over 934 million dollar towards the development of the special agro-industrial processing zones.

“We have mobilised co-financing of 938 million dollar from partners, including the International Fund for Agricultural Development, the Islamic Development Bank, Japan International Cooperation Agency, and the West African Development Bank.

“We have also launched together with partners, the Alliance for Special Agro-Industrial Processing Zones to accelerate the development of these zones across Africa, with 3 billion dollar in commitments,’’ he said..

The AfDB President also disclosed that development of the special agro-industrial processing zones is ongoing in 27 sites across 11 countries in Africa.

(NAN) 

Naira weakens against Dollar as week closes

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The Nigerian Naira ended the week slightly weaker against the US dollar at the official foreign exchange market, slipping by 19 kobo on Friday.

According to data from the Central Bank of Nigeria (CBN), the local currency closed at ₦1,533.74 per dollar, compared to ₦1,533.55 recorded the previous day.

Throughout the week, the Naira experienced marginal fluctuations. On Wednesday, it traded at ₦1,534.52/$, a slight dip from Tuesday’s ₦1,533.18/$. The week had opened on a positive note, with the currency trading at ₦1,534.20/$ on Monday, but it eventually ended in a minor decline.

Read Also: CBN sanctions 9 banks for failing to dispense cash via ATMs

Currency analysts say the subtle movements reflect persistent pressures in the foreign exchange market, driven by factors such as high import demand, global oil price trends, and ongoing economic policies.

The CBN has maintained that it will continue to monitor the market closely and intervene when necessary to stabilize the Naira and support overall economic growth.

Experts warn that even small shifts in exchange rates could influence import costs and inflation levels, which traders and consumers will be watching closely in the coming days.

Unmasking Nigeria’s Food Safety Crisis: A Dual Pathway to Public Health and Global Competitiveness

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Nigeria, often heralded as Africa’s economic powerhouse and most populous nation, is grappling with a silent epidemic that exacts a devastating toll on its citizens and stifles its economic potential: a pervasive food safety crisis. This isn’t merely a matter of occasional discomfort; it’s a grim reality where over 200,000 Nigerians perish annually from foodborne illnesses, inflicting an estimated economic burden of US$3.6 billion each year. The current state of food safety is not just a public health nightmare; it’s a significant impediment to the nation’s economic growth and global trade aspirations, demanding immediate, comprehensive attention.

The challenges plaguing Nigeria’s food supply chain, from farm to fork, are multifaceted and deeply entrenched. Across the vast landscape, inadequate practices, weak enforcement mechanisms, and a widespread lack of awareness among both consumers and food handlers contribute to this grave situation. Unhygienic food handling, poor storage conditions, and the pervasive use of contaminated raw materials are disturbingly common, particularly within the vast informal food sector. This sector, a lifeline for many Nigerians, often operates without the most basic amenities, such as running water, adequate refrigeration, or proper waste disposal. The problem is further compounded by insidious issues like food fraud, deliberate adulteration of products, and the indiscriminate misuse of agrichemicals, leading to numerous documented cases of mass poisonings and tragic deaths across the country. A critical and alarming finding is the glaring absence of an organized system for monitoring food safety issues. This systemic failure means that incidents are often misclassified, under-investigated, and consequently, the true scope of the problem remains obscured.

Beyond the immediate public health ramifications, the ramifications of Nigeria’s weak phytosanitary policies and inadequate regulatory oversight ripple into the international arena, costing the nation millions in lost export revenue. The repeated rejection of Nigerian agricultural products by discerning international markets, including the EU, US, and various Asian countries, due to contamination from pesticides, aflatoxins, and pest infestations, severely limits market access and fundamentally undermines the nation’s agricultural competitiveness. The seven-year EU ban on Nigerian bean exports, initiated in 2015 and costing the country millions, stands as a stark and painful reminder of these systemic failures. It underscores the urgent need for a robust and internationally recognized food safety framework if Nigeria is to truly unlock its agricultural potential on the global stage.

Read Also: Can urban farming contribute meaningfully to Nigeria’s food security? 

Crucial regulatory bodies like the National Agency for Food and Drug Administration and Control (NAFDAC) and the Standards Organisation of Nigeria (SON), along with policies such as the National Policy on Food Safety (NPFS), are in place to ensure food safety in Nigeria. However, their full effectiveness faces ongoing challenges in implementation and enforcement.

These challenges often stem from overlapping responsibilities, insufficient funding, and a need for greater collaboration among the various agencies. Additionally, current legislation lacks comprehensive traceability requirements, which can make it difficult to identify the origin of contamination and assign accountability. Furthermore, certain traditional cultural practices sometimes present a barrier to the widespread adoption of modern, hygienic food handling standards.

Overcoming these formidable hurdles requires a concerted, multi-pronged strategy. For customers, fostering a culture of food safety is imperative. A pivotal step in addressing this crisis lies in empowering consumers through comprehensive public awareness campaigns and readily accessible food safety education. These initiatives must be presented in simple, digestible formats, perhaps through a “food safety culture toolkit” that demystifies complex information. Education should emphasize the critical importance of personal hygiene, safe food handling, proper storage, and effective preparation practices, all aligned with the World Health Organization’s (WHO) internationally recognized “Five Keys to Safer Food.” Also, promoting the widespread adoption of robust risk assessment and management tools, such as Hazard Analysis and Critical Control Points (HACCP) systems, is vital for food businesses of all sizes. This proactive approach can significantly mitigate risks throughout the food production process.

For market competitiveness, elevating standards and enforcement should be the goal. To enhance Nigeria’s global market competitiveness, a strategic focus on strengthening regulatory oversight is paramount. This includes substantial investment in modern testing and quarantine infrastructure, which is essential for meeting stringent international standards. Furthermore, establishing a more coordinated and effective phytosanitary enforcement authority will streamline processes and ensure compliance. By improving these standards, Nigeria can drastically reduce export rejections, enhance its credibility in global trade, and unlock immense opportunities presented by schemes like the UK’s Developing Countries Trading Scheme (DCTS), which offers duty-free access to over 3,000 Nigerian products. Crucially, enacting the comprehensive National Food Safety and Quality Bill is a vital legislative step, along with ensuring greater involvement and capacity building for state and local authorities in food safety enforcement.

By prioritizing food safety, Nigeria stands at a critical juncture where it can not only safeguard the health and well-being of its citizens but also significantly boost its agricultural exports, attract much-needed foreign investment, create sustainable jobs, and ensure overall economic prosperity. This is not merely a regulatory issue; it is a fundamental pillar of national development. 

Airbus strengthens Africa operations with new Johannesburg Customer Centre

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Airbus has officially opened a new Customer Support Centre dedicated to commercial aircraft in Johannesburg, marking a major milestone in nearly five decades of partnership with Africa’s aviation sector.

The facility will bring Airbus closer to airline customers across the continent, enhancing customer proximity and offering a full range of services to help operators maintain safe, efficient, and reliable fleets. The centre will provide technical assistance, engineering and maintenance solutions, fleet performance analysis, training services, and on-site customer support for all Airbus commercial aircraft families, including the A220, A320, A330, and A350.

“The new centre expands Airbus’ presence in Africa and underscores our confidence in the region’s potential, as we invest in local capabilities, empower our customers, drive connectivity and shared progress across the continent,” said Gabriel Semelas, President of Airbus in the Middle East and Africa.

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Airbus has been present in Africa since 1976, when the first A300 was delivered to the continent. Today, nearly 40 airlines operate more than 260 Airbus aircraft. According to its Global Services Forecast, Airbus foresees in the next 20 years on the African continent, a need for 14,000 new pilots and 21,000 mechanics and engineers to face the surge in air travel demand.

The opening coincides with Airbus Helicopters celebrating 30 years of service and innovation in Southern Africa, where the Midrand hub provides maintenance, spare parts, logistics support, and Africa’s first H125 virtual reality simulator for pilot training.

Airbus Defence and Space also continues to support African governments with military aircraft, Earth observation services, and satellite connectivity solutions.

With more than 180 African suppliers integrated into its global supply chain, Airbus continues to play a key role in developing the continent’s aerospace capabilities. From component manufacturing and maintenance services to training partnerships and technology transfer, Airbus’ industrial presence supports job creation, skills development, and local economic growth across Africa.

NNPC remits N6.96tn to federation in five months, records N905bn profit for June

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The Nigerian National Petroleum Company Limited (NNPC Ltd.) has disclosed that it remitted N6.96 trillion to the Federation Account between January and May 2025, underscoring its vital role in funding the government amid ongoing economic reforms.

According to its June Monthly Report released on Monday, the state oil firm posted a Profit After Tax (PAT) of N905 billion for June 2025. This figure represents a drop from the N1.054 trillion reported in May, reflecting market volatility.

Despite the decline in monthly profits, the cumulative remittance to the Federation Account rose sharply, up from N5.58 trillion in April to N6.96 trillion in May, highlighting strong performance over the five-month period.

The report showed a rebound in upstream activities, with average daily crude oil and condensate production increasing to 1.68 million barrels per day (bpd) in June, compared to 1.63 million bpd in May. This marks the highest production level since the beginning of the year.

Read Also: Petrol price rises to N1,150 per litre after Dangote Refinery’s hike

Natural gas production also improved, reaching 7.58 billion standard cubic feet per day (scf/d) in June, up from 7.35 billion scf/d in May.

Revenue for the month stood at N4.57 trillion, down from N6 trillion recorded in May—attributed to fluctuations in the global oil market.

Petrol supply to NNPC retail stations saw a notable improvement, with availability climbing to 71% in June from 62% in May.

Progress was also reported in key gas infrastructure projects. The Ajaokuta–Kaduna–Kano (AKK) gas pipeline is now 83% completed, up from 81%, while the OB3 pipeline maintained a 96% completion rate. The successful River Niger crossing on the AKK project has reduced major risks to final delivery.

Meanwhile, upstream pipeline availability saw a marginal dip to 97% in June, from 98% in May. The company also began a technical review of the OB3 River Niger segment to replicate lessons from the AKK project.

Refinery rehabilitation projects in Port Harcourt, Warri, and Kaduna remain ongoing, with technical reviews continuing.

In terms of Corporate Social Responsibility, the report revealed that NNPC trained over 67,000 members of the National Youth Service Corps (NYSC) in June as part of its Financial Literacy Programme, raising the total number trained to 870,383.

NNPC noted that all figures are provisional and subject to reconciliation with relevant stakeholders.

This performance, the report added, reinforces NNPC Ltd.’s strategic importance as a key revenue driver for the federal government amid fiscal pressures and structural reforms.