Archived edition · 19:30 Lagos
Tuesday 29 September
- New articles analysed in today’s runs
- 26
- High-risk articles today
- 1
- Board appointments today
- 0
- Contract awards today
- 3
Key Developments
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NNPC Financial Performance
The Nigerian National Petroleum Company (NNPC) reported a 33% profit increase to N7.2 trillion, despite experiencing a decline in overall revenue and lower global oil prices ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMiiwFBVV95cUxPakx5U2lzOVhYX3FWM056ZW1VRVVXSnMyLTdZWEFvUlNTTThTX0Q4NFNxOGw4RE1lQ2ItRmdNNHpTcEhTZVlUM3dMaUh6Y2RadG1TSjlzWjB6YTY4TVZmOVp1d3hPU0VTZlUxNk9HdFlPelBVUjdLckJwY0ZxdTQ0WEZ4Ykh0dmJhNW5n?oc=5), [Vanguard News](https://news.google.com/rss/articles/CBMijwFBVV95cUxQdVJOZk91ZGFqaHJKWExNRnFJVTZVOFd2T213aGQ4bmxodXY3MllIM0lHbW9wYmJEdmxUaWtlR2xRYktCNzhkWGNHbEtkYzNfUEdrbWlLX0l6dmxsUGZIQ0twM1hSdXEwcXZsVjVudjgxbjBsUkdQLXVJUERvb1Ntb3Q2MmRRYjAycUdnNEVOONIBlAFBVV95cUxPQ0RZdGs1RDhtZTE4TEI1Y3Awdi1lZXVQTktBN0lCLXFvekZyam1NT0JuWWVxU2R3azFjcEFNRWc0V1FBM1I4S2FLNW44ZUlOd1J0TlpuZzVDeFNVeTZRSWpjNGdiNjZBWWhmeWs4ejRpM3Qtb2VrUUJBNF9YbXQ4Z0hmZDZ2NDcydmVMNGVxOUZnb05z?oc=5)).
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Strategic Logistics Partnership
DP World has partnered with TGI Logistics to expand and deepen trade activities within the Nigerian market ([Premium Times Nigeria](https://news.google.com/rss/articles/CBMitAFBVV95cUxQUExVRDh5N01EaUN2cDY0OG11X0dzb2FmNTQ0SnpZaDI0M1I5U0NtVkQxVjBSRDhGLWdUN0Iyb1BTbHFva183Z2FVNWl6QXFJNUpWcWRrcTdzTEhRdU9Qc0pLMFBwQXdCTWhPVlJaeEJxSmlIcWEzWVVSUWRjYjBwd2lwOUVxeWQ0cjgyRmJHYmlqdlAxUVh0MW0xeksxdnlPTjdfazVFd3pxVVlzZGZCcm5CV3A?oc=5)).
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Financial Market Entries
Coremars launched a N1 billion offer to enter the mutual fund market ([Punch Newspapers](https://news.google.com/rss/articles/CBMihwFBVV95cUxNY1hWQ2Y2VW05ajJGQXMwMFJKb1E0X0FjZFZRZGZGZGQ3NHRPWnBtVVJoV0pab0Zvd3IwZFVDZkRVUmpZZU85ek5hMWswaW1wcmNqSXN2bGljak9tN3FYWDBNSmdNQ0xpM1V5R1lUQlZlMkdORktmV2hPMHpOMTdOWk1uWHBlLTQ?oc=5)), while Continental Re is pursuing a $156 million offer to address African insurance gaps ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMiqAFBVV95cUxPM2ZrdzRqWXZpN184NDNPWlFSUDlDZkVSQk1iMVdvdmplXzQ0dHFMc1RKU2xjMk5xS2t4bWx3T3RRNzYxV2FLeE44cGhGZlNSdDZXWVA2b0NScmZxRTNaSEs3Z21RTkdBQmJ0a290cGU0SGUzOGlVdlR1Sk9Id2VCQnctYU5GdFFiQlhzN09mMmkzQXZ0eHlaWVlSZEFvcTBJNXdTRTR5aWs?oc=5)).
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Regulatory & Policy Shifts
The FG is targeting 70% local content for domestic industries ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMipwFBVV95cUxQTkxHUDBRaGtzaUxXNWVDRlJSSGlLT2t4THdZTG1IRkt4RTdVRXNCWFFQVXVOUi1WMHdWZzdVTWI0T2tFRVRIdU1zSll5Wm5yVzZ5MkFJQW82NXItdldyUlUyb3NEREhxN0NRWkphdG0wMVNJYTlCODJlZVRTVjlkM2h4MWoxTWtMR2JhUzROdjJ6RVdlS0pvT0cyRktGam0zVzR3Z0JWVQ?oc=5)), and President Tinubu has transmitted the 2026 NDDC budget and research bills to the House of Representatives ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMilAFBVV95cUxQaTVtU2g0QVJ0dFlGdHo4WUxLVThBRUxhY3pESFNtU09tRzZ5YVFvUnBlQjliMGhzUlNadVcyYURqdkRzTVdkSUlwdGFsVEphWVdMLVFjV1drM3ZIeHl0OE9jTHJLQXpwNTI0NjVPVzFKZkVrS19JUU81dF9wRXFBMW93WHhfc2dMZFJJS0Vwd1J2UzlE?oc=5)).
High Risk Alerts
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International Corruption Allegations
Former Vice President Atiku Abubakar is responding to reports of international corruption cases involving himself and his former spouse ([Premium Times Nigeria](https://news.google.com/rss/articles/CBMi5AFBVV95cUxOzHE3NUQ1ODYyN00taUt4Z2lPQVBEUm9zVElvZnhnNVBBenFKQkNwajFZRF9GWVpwSjFhNWZDUkNwTVdfdmF5NlJQR3piQ3NhcFI1RTNDUmpNelJnTEZPR1FIZ3dQNWlBSENGbE9WUjcwYmk5UWxmeVVwQ3R1QWlESm0tcHJ5NWoweWd0TFo3dC1WTUhhLU1DZllEYlItNjZZd2VVMHk3U1RZaDk0ZS1YU3NEX3R1VkQtV09tWGFtSHZ6ZTdMOEtKZ1RKU3RoWUFpNGJUWlhMVDd0WlVoYUV5Wllva2w?oc=5)).
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CBN Audit Concerns
The House of Representatives is scrutinizing the Financial Reporting Council's position on the CBN's audited accounts following concerns raised by Special Investigator Jim Obazee ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMilAFBVV95cUxNRjd0aUZJM1VNbk52dVNzVTljT29QemlTRlZ0UGlmUE44TVBYeWh4OWpWbGN6QkZBb3g0UVhJRVI2RzdoQ2pNWnE4RDBqNWlCV1AwbGl4Z1p6RTJ6R25WSm5zQ3hEcS1WQWppUUliblM4clc0X2M4dXNZTS03YmJMNnNiREJ3R0pUWkZFdTNGMHR0aFhh?oc=5)).
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Infrastructure Legal Disputes
Arbitration involving former Attorney General Abubakar Malami regarding the Mambilla hydropower project has highlighted significant legal and financial infamy ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMiogFBVV95cUxPeEdnWUNoS3pvc3dmQ2pmVnRUdGZsSmU3NVRjVlFaa0hnOUktejNicnN1eVZxd3RBU2hsd1JIN3N5ckJhZW1Kc0YySmtYNVJwSFVqV2JJb2Z6eUlvdVY3czhhN3BjZTZHdHVWQXNLU01ucnZVaEFod05udTliSkxPaUNYcVdSY3lfTVlfQ1N1Ny1kZTgtLUpfZGlscjllMkZSRGc?oc=5)).
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Public Project Verification
CSOs are demanding independent verification and evidence regarding allegations against an individual named Adeola concerning public project execution ([Premium Times Nigeria](https://news.google.com/rss/articles/CBMi4gFBVV95cUxPaXhPLWFIaUtDclpWN090d0xaOW0ydnNmQTAtb1g0ZTlaZV9YY3B4Y2RncHA5UEMtVTZkQzVDa01MeW52ZVllQmtzTHR0R00zczBJWjBxZXJsVFRtTjFrb3pqYzdlYlNfM0hINUgzMk1zT2N5RU9aeE5xRkdidnVsc2NxUTVDdUF0TFAwODJHMlJYWEsya2pBZ200SUU5WjZUSEJQV0xET0RNUTBEUjl2ZFdoY0VHUm9KeTJxRm9qUzF1bjBSM0FBek1KYzUyakVMbzVUUjJRVHY0Zkx6T1NCM1ln?oc=5)).
Beneficial Ownership & PSC Disclosures
No persons with significant control were identified in the provided data.
Procurement & Board Changes
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Refinery Revitalization
NNPC official Ojulari confirmed the selection of Chinese companies to revamp Nigerian refineries ([Premium Times Nigeria](https://news.google.com/rss/articles/CBMiyAFBVV95cUxOS0JrVEZFMWkwZk5vMWdNemxzSGgxNGk2Rkh2bllKUU1ucFYyTmhCWTN1ZG5rcU03ZE96QzFFcDExYWlTVERFUXZwckgwN0hTdFZGel8tNnk1SnNyMmw0NU42RGhHajNzcFpZTGx6MHpDVV9XUTRqbkk2b1ZTNEs5aERRQlpoRkZZbFpHRVY5aUxaNVl2TkRuVUtZTS0zRHhLY2RIa1ZhUHJKWDBQSVZqZ1IxdXZub2x2SEVlaS11THpRcDdsbWdLbQ?oc=5)).
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Bioethanol Plant MoU
The Ogun-Osun River Basin Development Authority signed a €256 million MoU with NNPC Biofuels for a bioethanol plant ([Punch Newspapers](https://news.google.com/rss/articles/CBMilwFBVV95cUxOa0hxVzA5WEVxblZtY0NqVnFiWWc5QTBJQ0trYm9yRUFTNnd4cUxLbUFQckVCR0g1MUlMS29Wc3JEMWVqcnQzZ3dHMUVNYjZUVWE0c0huZERzVzI2aWhxWWZ6SmtHV0JnQV9KRHNPbHpBVXYyUmhIdlhLS3hRZmFTN0YyV2FhU2IzQXN4eUhMWGZmcDM0MGtV?oc=5)).
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Security Procurement
Sokoto State has allocated N1.59 billion for the purchase of 30 Hilux vans to enhance security ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMinwFBVV95cUxOVUZza2RqbUE3U3NVMThJVGNrTlZPZWlYNjk5WE1IZU02b0puYWhHS2JWU3lZUm5jU05YWlpQaTZMQXEtWkV0UEJhaW1uaFZ3WWlxa05jNGk0VW1jUFFSLWFUM0p4NXhkVWxXbkVicE54T2h3cks1U3RmNll1d1lieU0zOFNIVF9QSktyZVEySW9Hd0dnRlBWMGZrUVdjdUk?oc=5)).