Business and Economy
NNPC Reports: N13.23bn Trade Surplus In October 2019
The Nigerian National Petroleum Corporation (NNPC) recorded a trading surplus of ₦13.23billion in October 2019.
This represented an increase of 54 per cent compared to ₦8.59 billion surplus posted in September 2019. adsbygoogle || []).push({}); js">
The Corporation disclosed this in its Monthly Financial and Operation Report (MFOR) for the month of October released in Abuja, on Wednesday.
The report reflected the sustained streak of positive results in the operations of the National Oil Company.
It added that the September 2019 trading surplus of ₦8.59 billion in turn indicated a significant increase of 65 per cent compared to the ₦5.20billion surplus posted in August 2019.
The report noted that the August surplus also beat the ₦4.26billion surplus posted in July 2019, reflecting an increase of 22 per cent.
The report revealed that the October surplus was largely due to the improved trading surplus posted by its Upstream subsidiary, the Nigerian Petroleum Development Company (NPDC).
On Crude oil and Gas sales, it said that a total Crude Oil and Gas export sales of 483.25 million dollars were made in October 2019.
It said this was an increase of 35.77 percentage point, compared to September, implying that in October, Crude oil export contributed 396.94million dollars (82.14 per cent) of the dollar transactions, compared with 267.97million dollars contribution in the September 2019.
It noted that the export Gas sales for the month amounted to 86.32 million dollars.
“Overall, the October 2018 to October 2019 Crude Oil and Gas transactions indicated that Crude Oil and Gas worth 5.49 billion dollars was exported,’’ it said.
In the Downstream Sector, it said that 1.16billion litres of Premium Motor Spirit(PMS) also known as petrol, translating to 37.30mn liters/day, were supplied for the month.
It noted that the corporation had continued to monitor the daily stock of PMS in order to achieve smooth distribution of petroleum products and zero fuel queue nationwide.
The report said that in October 2019, 35 vandalized-pipeline points, representing a decrease of 81 per cent from the 186 vandalized-points in September 2019, were recorded.
“Out of the vandalized points, eight failed to be welded, while only one pipeline was ruptured, with Ibadan-Ilorin axis accounting for 34 per cent of the breaks.
“ATC-Mosimi and other routes accounted for 23 per cent and 43 per cent, respectively,’’ it noted.
In the Gas Sector, the report said that out of the 235.82 billion Cubic Feet (BCF) of gas supplied in October 2019, a total of 134.97 BCF of gas was commercialized, consisting of 31.37 BCF for domestic market and 103.60 BCF for export market.
This, it said translated to a total supply of 1.01 Million Standard Cubic Feet (mmscfd) of gas to the domestic market and 3.34 mmscfd of gas supplied to the export market.
It said that during the month, 57.23 per cent of the average daily gas produced was commercialized, while the balance of 42.77 per cent was re-injected, used as Upstream fuel gas or flared. (NAN)
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Business and Economy
Ododo Unveils N820.49 Billion 2026 Draft Budget
From Joseph Amedu, Lokoja
Governor Ahmed Usman Ododo of Kogi statte has unveiled the 2026 draft budget, titled “Budget of Shared Prosperity,” totaling N820.49 billion. The announcement was made following a meeting of the State Executive Council in Lokoja.
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The budget represents a 35.7% increase over the 2025 revised budget, signaling the state government’s focus on sustainable growth, inclusive development, and enhanced service delivery.
Commissioner for Finance, Budget, and Economic Planning, Asiwaju Asiru Idris, briefed journalists after the council meeting, highlighting that the 2026 budget is designed to strengthen internal revenue, improve debt recovery, foster a business-friendly environment, and deepen public-private partnerships.
“The 2026 budget proposals reflect a robust and balanced financial strategy emphasizing enhanced revenue generation, strategic expenditure control, and a strong commitment to capital investment,” Idris said.
He added that the significant rise in both recurrent and capital expenditure underscores the government’s determination to expand infrastructure and improve public service delivery. The total estimated revenue and expenditure for the 2026 draft budget is N820,490,585,443, reflecting a fully balanced fiscal plan.
The meeting also addressed other critical issues, including access to clean water, road safety, and land administration reforms. Commissioner for Information and Communication, Kingsley Fanwo, noted that Governor Ododo directed all commissioners to sink three boreholes each in their respective local government areas and tasked the council with taking over land consent authority to curb fraudulent transactions.
The inclusive meeting, which included former commissioners, reflected Governor Ododo’s commitment to unity and collective progress. Former Commissioner Hon. Salisu Sani Ogu praised the governor’s leadership style, saying, “He has shown a desire to carry everyone along and build on the foundation laid since 2016.”
The 2026 draft budget aligns with the state government’s long-term goals of infrastructure expansion, improved public services, and economic diversification, aiming to create a more prosperous environment for Kogi residents.
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Business and EconomyNovember 9, 2025Ododo Unveils N820.49 Billion 2026 Draft BudgetNewsNovember 9, 2025Troops Rescue 31 In Kogi as Kidnappers Abduct 40 CVR RegistrantsNewsNovember 8, 2025Commissioner Hails Tinubu Over Appointment Of Kogi Indigenes Into Critical PositionsHealth and Life StyleNovember 8, 2025Ogori/Magongo LGA Emerges Overall Best In PHC Quality Service Delivery Award
Business and Economy
Kogi Govt Opens Bids for Livestock Market Rehabilitation Project
From Joseph Amedu, Lokoja
The Kogi State Government has embarked on a major initiative to rehabilitate nine livestock markets across the three senatorial districts of the state.
The bid opening ceremony for the project took place over the weekend, at Kogi State Livestock Productivity and Resilience Support (Kogi L-PRES) Project office in Lokoja.
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The Project Coordinator, Mr Abdulkabir Onoruoyiza Otaru, highlighted the importance of the initiative and assured of a transparent process.
Otaru described the market rehabilitation project as a new dawn in Kogi State’s livestock value chain, and commended Gov. Ahmed Ododo for fully supporting the project.
He revealed that the World Bank had approved the project, with nine livestock markets to be rehabilitated in the first phase across the state’s nine Federal Constituencies.
“We’ve secured World Bank approval for the rehabilitation of one livestock market in each of Kogi State’s nine Federal Constituencies.
“We’ve engaged stakeholders to ensure a smooth bidding process and successful project execution.
“I urge the winning contractor to deliver high-quality work within the timeframe.
“Governor Ahmed Ododo’s support for L-PRES has been instrumental in improving livestock farmers’ livelihoods and the state’s economy,” Otaru said.
He emphasised that the rehabilitation of the nine livestock markets is expected to enhance livestock productivity and value chain in the state, improving the livelihoods of farmers and the economy,” Otaru said.
The Commissioner for Livestock Development, Dr Olufemi Bolarin, said the rehabilitation project aims to enhance the livestock sector, crucial to the state’s economy and food security.
“The modernisation of the markets will improve trading conditions, boost the livelihoods of farmers and traders, and create hygienic and efficient market spaces that meet international standards,” Bolarin said.
Represented by the Ministry’s Director of Livestock, Mr Ali Peter, the commissioner emphasised the need for a transparent and competitive bidding process.
The commissioner urged participants to adhere strictly to the guidelines.
The ministry’s Permanent Secretary,, Dr Abdulsalam Hadi, commended the governor for his commitment to transforming livestock development in the state.
He expressed confidence that the project would be a success, contributing significantly to the growth of the state.
The Kogi L-PRES Procurement Officer, Mr Adeolu Oshadare, disclosed that five companies submitted bidding documents with prices ranging from N1.22 billion to N2.12 billion.
According to him, the project bid was advertised on September 12, 2025, and five companies submitted bids by October 10, 2025.
According to him, the bid prices are: Nuelika Infinity Ltd (N1.54 billion), Izyprecs Ltd (N1.55 billion), Emmanuel-NIK and Gold Ltd (N1.47 billion), RSA Global Investment Ltd (N1.22 billion), and Numora Integrated Ltd (N2.12 billion).
Adeolu noted that the next stage would be the evaluation of bids by the evaluation committee within the next week.
In his remarks, Prof Usman Omeiza, Chairman of the Chartered Institute of Purchasing and Supply, Kogi State Branch, commended the Kogi State Livestock Ministry, L-PRES, and other stakeholders for ensuring a seamless and transparent bidding process.
He urged them to maintain this transparency throughout the project.
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Business and Economy
KGIRS Gives Rebates, Urges Land Owners towards Voluntary Payment
From Joseph Amedu, Lokoja
The Kogi State Internal Revenue Service (KGIRS) has charged property owners who have received Land Use Charge Demand Notice to pay in order to fulfil their obligation to the State.
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Executive Chairman of KGIRS, Alhaji Sule Salihu Enehe made the call in a chat with Our Reporter on the significance of Land Use Charge and early payment of the tax.
He said the Land Use Charge introduced by the government was aimed at eliminating the burden of multiple taxation, provision of a more streamlined and efficient system.
Alhaji Enehe urged property owners that have receivethem enjoy Use Charge (LUC) Demand Notice to pay as soon as possible to enable them enjoy early payment incentives.
“Payment within 5 days of receipt of Demand Notice attracts 15% discount while payment within 15 days of receipt of demand notice has 10% discount and payment within 25 days of receipt of Demand Notice also has 5% discount to encourage prompt payment of the LUC.
“Payment can be made in all bank branches across the State as well as Kogi State Revenue POS Agents” he stated.
He assured that government would continue to use the revenue for infrastructure development, maintenance of the environment, and provision of adequate security for the State.
While re-emphasising the significance of the tax, the Executive Chairman, KGIRS, said “The Land Use Charge offers several benefits, including; Accurate assessment of property values for taxation purposes, Identification and registration of property in the State, Allocation of land for government projects and social amenities, Employment opportunities for enumerators from the District, and Creation of a reliable database on the property makeup of the State to inform decision-making.
“The tax obligation section of the Land Use Charge focuses on property used for lease and commercial purposes, but there are exemptions, and they include; Property owned and occupied by religious bodies for public worship or education, Public cemeteries and burial grounds,
“Others are non-profit educational institutions and public libraries, palaces of recognised traditional rulers, community property like town-halls used for community meetings, and Property owned and occupied by pensioners” Alhaji Enehe stated.
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Business and EconomyNovember 9, 2025Ododo Unveils N820.49 Billion 2026 Draft BudgetNewsNovember 9, 2025Troops Rescue 31 In Kogi as Kidnappers Abduct 40 CVR RegistrantsNewsNovember 8, 2025Commissioner Hails Tinubu Over Appointment Of Kogi Indigenes Into Critical PositionsHealth and Life StyleNovember 8, 2025Ogori/Magongo LGA Emerges Overall Best In PHC Quality Service Delivery Award