NUPRC to Raise Nigeria’s Active Oil Rigs from 36 to 50 By End of 2025 Bloomberg Report: At $5.34bn, Nigeria tops Shell’s 2024 global oil tax payments Seplat predicts H1 revenue to dwarf full year 2024 $1.1bn
Emmanuel Addeh and Sunday Aborisade in Abuja
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reiterated plans to raise the active
oil rigs in Nigeria’s petroleum sector from the current 36 to 50 by the end of 2025, an increase of about 38.89
per cent. Also yesterday, it emerged that global oil giant, Shell Plc, paid $5.34
billion in taxes and other charges to Nigeria in 2024, more than any other country it operates in the world, a
Bloomberg news report said. Continued on page 9
Rabiu: Dangote, BUA Groups Will Stabilise Cement Prices for FG Projects... Page 5 Friday 16 May, 2025 Vol 30. No 10995. Price: N400
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Inflation Declines to 23.71% Amid Lower Food, Energy Prices Severe in Ekiti, Kebbi, Niger, others Varsity don hails price moderation as boost to investor sentiment, macro-economy
Ndubuisi Francis and James Emejo in Abuja
The Consumer Price Index (CPI), which measures the rate of change
in prices of goods and services, eased to 23.71 per cent in April compared to 24.23 per cent in March, National Bureau of Statistics (NBS) said yesterday.
According to the CPI report for April 2025, which was released by the statistical agency, month-on-month, inflation stood at 1.86 per cent in April, from 3.90 per cent in March.
Headline inflation stood at 9.99 per cent, year-on-year, compared to 33.69 per cent in April 2024, using the 2009 base year, before rebasing, NBS stated.
The three major contributors to headline inflation included food and non-alcoholic beverages, which accounted for 9.49 per cent, restaurants and accommodation
services contributed 3.06 per cent, and transport, which contributed 2.53 per cent. Continued on page 9
Tinubu Heads to Rome on Pope Leo XIV’s Invitation with Bragging Rights of 62% Christian Appointees
Story on page 9
Bishops Ugorji, Kaigama, Kukah, Martins on delegation
President expected back in Abuja on Tuesday
3RD ANNUAL GENERAL MEETING OF ACCESS HOLDINGS...
L-R: Non-Executive Director, Access Holdings PLC, Roosevelt Ogbonna; Acting Group Chief Executive Officer, Bolaji Agbede; Non-Executive Chairman, Aigboje Aig-Imoukhuede; and Company Secretary, PHOTO: SUNDAY ADIGUN Sunday Ekwochi, at the Group’s 3rd Annual General Meeting held in Lagos, yesterday