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NUPRC approves Oando’s acquisition of Agip

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The Nigerian Upstream Petroleum Regulatory Commission, NUPRC has approved Eni’s proposal to divest its Nigerian wholly-owned subsidiary, Nigerian Agip Oil Company (NAOC), to Oando PLC, a development that marks a significant in Nigeria’s oil and gas sector.

 

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced the completion of the deal at Nigeria’s Oil and Gas Week in Abuja, maintaining that the signing ceremonies for the deal would come up any moment.

 

“For some of you who were at the panel session on Monday, the Chairman of IPPG (Independent Petroleum Producers Group) raised issues about the need for us to give update on the divestments programmes on-going. Now, I am here to give you real-time update on the major divestments in Nigeria,” Gbenga Komolefe, the CEO of NUPRC said on Tuesday.

 

He added, “ NAOC-Oando divestment has been concluded. Signing ceremony will come up any moment”.

See also  Oando Group Chief Executive, Adewale Tinubu, Celebrates Nigerian Workers on May Day

 

Currently, NAOC holds stakes in four onshore blocks comprising Oil Mining Licenses 60, 61, 62, and 63; in two power plants, Okpai 1 and 2; and in two onshore exploration leases – Oil Prospecting License 282 and OPL 135.

 

The transaction, however, excludes NAOC’s interest in the Shell Production Development Company Joint Venture (SPDC JV) as it will be retained in Eni’s portfolio.

 

Eni said it continue its presence in Nigeria through Nigerian Agip Exploration and Agip Energy and Natural Resources and will focus on operated offshore activities.

 

When the deal is finally signed by both parties it will move Oando from its current 25,000 barrels per day to double its oil equivalent output to 50,000 barrels per day.

 

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Good morning! Nigerian Newspapers Headlines: How 44 abducted Oyo pupils, teachers were rescued – Army

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1. The Nigerian Army has revealed how troops, working with other security agencies, rescued pupils and teachers abducted by suspected Ansaru terrorists in Oriire Local Government Area of Oyo State after 56 days in captivity. The Army said the victims regained their freedom following an intelligence-led operation that lasted for more than a month and targeted the kidnappers’ network and hideouts in the Old Oyo National Park and other parts of the country.

According to a statement issued hours after the rescue on Friday by the Acting Deputy Director, 2 Division Army Public Relations, Lt. Col. Danjuma Danjuma, the operation involved troops of the Nigerian Army led by the General Officer Commanding 2 Division, Maj. Gen. Chinedu Nnebeife

2. Tokyo police have arrested a 53-year-old Nigerian, Nwadiukwu Ikenna, on suspicion of persistent touting in the Japanese capital’s Kabukicho nightlife district. According to the Tokyo Metropolitan Police Department on Friday, Ikenna allegedly approached a passer-by and grabbed the individual by the left hand on a street in the district during the early hours of Thursday, July 9, 2026

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3. Minister of Aviation and Aerospace Development, Mr Festus Keyamo, SAN, has demanded a public apology from the Nigerian Democratic Congress, NDC Presidential Candidate, Peter Obi, over claims that his vehicle was unfairly clamped at the Nnamdi Azikiwe International Airport, Abuja. The Minister while clarifying the incident insisted that CCTV footage belied Obi’s allegations of political persecution.

4. A Federal High Court in Abuja has again rescheduled its planned judgment in the suit by the Economic and Financial Crimes Commission, EFCC for the final forfeiture of about 57 properties allegedly acquired unlawfully by a former Attorney General of the Federation (AGF), Abubakar Malami (SAN), to July 15. Justice Joyce Abdulmalik had earlier fixed the judgment for July 6 after taking final arguments and submissions from lawyers for the parties in the case.

5. Governor Siminalayi Fubara of Rivers on Friday presented the 2026 appropriation bill of N1.85 trillion to the Rivers State House of Assembly. The bill, tagged ”Budget of Resilience for Growth and Development.” Fubara said that the proposed total operating revenue for 2026 was projected to increase by 24.49 per cent over the 2025 adjusted budget projections.

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6. Three Mexican nationals and seven other suspects have been remanded in prison by a Federal High Court in Lagos. The defendants, including a 63-year-old alleged drug baron, Anochili Innocent, were arraigned before Justice Musa Kakaki on Friday on an 11-count charge bordering on conspiracy, unlawful production and possession of methamphetamine valued at N480bn, operation of a drug trafficking organisation and unlawful possession of precursor chemicals.

7. Troops of Operation Hadin Kai, in the early hours of Friday, repelled an attempted infiltration by Islamic State of West Africa Province terrorists into three communities near Maiduguri, the Borno State capital. The acting Media Information Officer of the Joint Task Force North East, Operation Hadin Kai, Capt. Muhammad Goni, said in a statement that the affected communities were Muna Garage, Shuwari Village and the Ajilari Cross area.

8. The Federal High Court in Abuja on Thursday affirmed the powers of the Federal Competition and Consumer Protection Commission to investigate consumer complaints over airline ticket pricing, ruling that the commission’s authority to conduct investigations is distinct from its statutory power to regulate or fix prices.

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9. The Enugu Zonal Directorate of the Economic and Financial Crimes Commission has arraigned the Group Managing Director of Brass Engineering and Construction Nigeria Limited, Egwuche Gladys, for alleged abuse of office and embezzlement of public funds to the tune of $600,000 (N827 million). This was disclosed in a statement posted by the EFCC on its X page on Friday, adding that Gladys was arraigned alongside the firm on a 12-count charge before Justice F. O. Giwa-Ogunbanjo of the Federal High Court at Independence Layout, Enugu State

10. President Bola Tinubu has expressed joy over the successful rescue of the pupils and teachers abducted from Oriire community in Ogbomoso, Oyo State. Tinubu commended the military, the Department of State Services, DSS and the Nigeria Police for securing the victims’ release after 56 days in captivity. The commendation is in a statement issued by the Presidential Spokesperson, Mr Bayo Onanuga, on Friday in Abuja.

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Ogbomoso pupils, teachers rescue a big relief to Nigeria – Tinubu

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President Bola Tinubu on Friday evening said the rescue of the abducted pupils and teachers from schools in Oriire LGA of Oyo state has brought relief to the entire nation.

The president’s special adviser on information and strategy, Bayo Onanuga, said in a statement that Tinubu “expressed profound joy” over the successful rescue of the victims.

Onanuga said the president commended the military, the Department of State Services (DSS), and the police “for working round the clock in the last 56 days to secure the release of the abducted children and their teachers without any collateral damage and for arresting eight of the abductors and neutralising others.”

Onanuga said Tinubu also expressed regret over the suffering endured by the children, their teachers, their families, and the nation since the abduction.

The president praised the Oyo state government for working closely with the federal government throughout the rescue operation and urged the state to strengthen security around schools.

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“I am profoundly happy that our security forces successfully rescued the abducted pupils and teachers from Orire, Ogbomoso in Oyo State today after a military, police and intelligence-driven operation that neutralised some of the terrorists that perpetrated the evil act and the arrest of eight of them,” the statement reads.

“This successful military operation has ended the siege and standoff of over 50 days and has brought relief to the entire nation and the affected families in particular. 

“On behalf of the country, I express my gratitude to the officers and men of our armed forces, the intelligence agencies and the police for the safe rescue of the children and their teachers.

“My government will get justice for these children and their teachers and for the family of Mr Oyedokun, who the terrorists gruesomely murdered.

“I must commend the government of Oyo State for working cooperatively with us in bringing this unfortunate incident to a successful end.”

See also  Oando Group Chief Executive, Adewale Tinubu, Celebrates Nigerian Workers on May Day

The president also directed emergency agencies to work with the Oyo state government to provide the rescued children and teachers with all necessary medical care and relief support.

According to reports, the pupils and their teachers were rescued during a joint operation involving personnel of the Nigerian Army and the police, backed by intelligence from the DSS.

A security source said at least nine of the bandits were killed during the operation, while eight were arrested and are in the custody of the DSS.

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Makinde thanks Tinubu over rescue of abducted Ogbomoso pupils, teachers, says it’s a big relief

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Governor Seyi Makinde of Oyo state has said that he is overjoyed following the rescue of pupils and teachers abducted in Oriire LGA of the state.

The victims regained their freedom on Friday after spending 56 days in captivity, following a coordinated operation involving the military, the Department of State Services (DSS) and the police.

Speaking with Channels Television shortly after the rescue, Makinde described the development as a huge relief for the state.

He thanked President Bola Tinubu for pushing for their release.

“It is such a big relief for all of us. Just right now, I am overjoyed and can hardly say much,” the governor said.

“I use this opportunity to say a big thank you to all the service commands, the police, DSS, military and, of course, the president for pushing for their release.”

On May 15, gunmen attacked Baptist Nursery and Primary School, Yawota; Community Grammar School, Esiele; and LA Primary School in Ogbomoso, all in Oriire LGA.

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The sad incident prompted the Oyo state government to shut schools in four LGAs as security agencies intensified rescue efforts.

Protests were organised in some parts of the country to demand the rescue of the abducted schoolchildren.

On May 18, Makinde said one of the teachers abducted during the attack was killed in captivity.

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