Archived edition · 17:45 Lagos
Friday 4 September
- New articles analysed in today’s runs
- 18
- High-risk articles today
- 1
- Board appointments today
- 1
- Contract awards today
- 3
Key Developments
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Market Exit
US ride-hailing giant Uber has officially ceased operations in Nigeria and Uganda after more than a decade, signaling a major strategic withdrawal from key African markets ([RT](https://www.rt.com/africa/645086-uber-quits-nigeria-uganda-markets/), [Vanguard News](https://news.google.com/rss/articles/CBMicEFVX3lxTE9LNnM1dGpxMGFaVUpFU0dwT1E4TG5xYkRJUUFXSGhaRHhuMHpCUVhqX1VqaHhvNThmWlp5d1Zad2lQd1pKYnJsRDJwTDVkQUxRb3RWdzBGQjlrTURWRlYxYkx1cFdrVGphYkE2clFVcWzSAXZBVV95cUxQbTlDZFlOQWRNNFBQcWlycEpMZ21jTHpHNFdtY21rSGpfanZZMzd6WUQ0c25HYzhRUkwyWHprOWpwODBMemthTjRFZWFva1dfTTFycXM3bGc2UTZ2eFpsN2ZsYThPTlZDZEFIUmpmZUlwQzBjM2R3?oc=5)).
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NNPC Financials
The Nigerian National Petroleum Company (NNPC) reported a profit decline driven by a 29.6% revenue drop in July ([Vanguard News](https://news.google.com/rss/articles/CBMikAFBVV95cUxNQkFOZU1FeWFwclhDcW5aN296LTlReXBVUGJrbEdrSWtYZEtwczFiWUJSalpCanctakdWR1IyYnBHbEpHeTQ1WWc3UnZVQ3R4dVBER3NzZGRoVDc1ck5BN3RaUzhXdlB3V0NKVEw2Z0ZJNG9iTk1mUjBVQTY5cjdrZGxGTDIxanBCajZHandpMWpS?oc=5)).
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Institutional Shifts
Oyetola has transferred the functions of inland dry ports to the Nigerian Ports Authority (NPA) ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMigwFBVV95cUxQWXJVeDBCWnNLbXotSUpOR3MyVE5QYjhpY0I1Sm9mSk0wd0J4RTBOM0FVZ1VRUWpNODA5MUhRQ1hfSkhET3E2NS1GT3dIMXZMTURnS2RfNl9DVE42SnZOQ0ZpanFfYmlObmJ3Z0haejcwSDY1TlVZTXhkQ1FYV3kxaVJiaw?oc=5)).
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Energy Infrastructure
NNPC Limited announced the completion of the OB3 pipeline project to bolster the national gas economy ([vanguardngr.com](https://news.google.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?oc=5)).
High Risk Alerts
-
Fiscal Loss
The Niger Delta Power Holding Company (NDPHC) has reported a substantial loss of N300 billion ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMiiAFBVV95cUxQcXh3TVNKdkJOVmpyOHJjRUtQOUF1VlhwOVlOemI0aWNrM1hGOTJROWF0b1dzTjBEa3dnVU1lYUY0eDNUU0d4ZFV4U25leFNRMWl1UENaZThHemd3Rkx5OTByOVBsSWJMNHdHY3NzRGhlVEtpcDFESktYemEwd2pjd0NiTUdQZF84?oc=5)).
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Government Bloat
Reports emphasize the urgent need to implement the Oronsaye Report to eliminate "fake agencies" and duplicate government entities ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMimwFBVV95cUxNZ093Z3NUUWRJdnBGazNEbkQ3U2xocXVTTlVuNGFPNVpzQ3JIOUNoUHhvd1J5VGtpYlI0TkpNTDdJNk5uNXFiM09UVXdkUkp0Z1NNWFpCRFFwRW5HQjUyTGhWMTdCVDIzMGFmTEZhMTJlSlpuRWRRMWZvUjhDQ3JiUkdad2l4Z0VPM1pHN3FtVlpsOHIteUM5ZElIMA?oc=5)).
Beneficial Ownership & PSC Disclosures
No persons with significant control were identified in the provided data.
Procurement & Board Changes
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Board Appointment
Security expert Okere has been appointed as a board member of WAD, marking the first Nigerian to hold this position ([Vanguard News](https://news.google.com/rss/articles/CBMinwFBVV95cUxNNzNlNVNPUm91RzhoWUxlT3FBVUUtQkV6SjAzQXJSZWVSSlNNM2pQRjVlSnc5bjNVa1BfZk9xaFFHaDBxMG5JNlJJUDR2N2d1VE82MFlOQUxkQWhtLXRpNXVGWUNUMGpYU2tyMGRXNGcyS0M3dEhCcEJMX1NHNWNITDJpYWwwWHk0dmpmQ05WU0otb0s4dmRhVVZQSzZlcllS?oc=5)).
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Infrastructure Procurement
The Akwa Ibom State Government commissioned the 6.475km Amanyam–Mbiaso Road project ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMiwAFBVV95cUxQcmN4OEhiVzJEcGdmby02VkxjOTR5Z0Z0ckMyVG1CUjlvZW1wTXZWLWRZbXlpd0xJMkh0LUdyTmJ1emxYYXpUWVgxZE1fdk81R0JLazhCMWhSNk82R1JiQkczQUVBbWpFRHltNUs1dnZsY2RQbXcyWlpaWkZJZE14QXlPYVZMckJyYTRGRUtMWDlNYnd1OFlLNmZPeHcwamZ3OWJOc0U3ck82MzJtX2dFX1VJQ3ZuZkY3C9pdDhXRkE?oc=5)).