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CIoTA President Calls for Transport Revolution Ahead of North Central Zonal Conference

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The President and Chairman of Council of the Chartered Institute of Transport Administration of Nigeria (CIoTA), Prince (Dr.) Segun Ochuko Obayendo, FInstA, has urged a nationwide transport revolution, describing efficient transportation as the heartbeat of Nigeria’s economic development.

Dr. Obayendo made the call during a press briefing at the Plateau State Secretariat ahead of the North Central Zonal Transport Conference scheduled for August 27–29, 2025, in Jos. He described the conference as “a call to action” for stakeholders to overhaul the nation’s transport system.

“Without efficient roads, reliable rail, secure air travel, and connected waterways, markets remain out of reach, businesses struggle, and communities stay isolated,” he said. “This conference is about changing that—with real solutions, real partnerships, and real impact.”

Themed “Transforming Transport Infrastructure for Sustainable Economic Development in Nigeria,” the three-day event will bring together government officials, private sector leaders, development partners, academics, and innovators to address critical sector challenges.

Dr. Obayendo stressed that the quality of a country’s transportation network is a key measure of its progress. “When you arrive in any country, the first thing that welcomes you is its transport system. It reflects its organisation and development. Our mission is to rewrite Nigeria’s story,” he said.

Lamenting the underappreciation of the sector by investors, he said the conference would also highlight opportunities for private sector participation. He noted that CIoTA—empowered by the National Assembly in 2019 to regulate, professionalise, and advocate for improved transportation—would use the platform to promote technology-driven solutions across road, rail, air, water, and pipeline transport.

Citing global innovations, Dr. Obayendo recalled how automated number plate recognition in London detected his expired car insurance. “This is not rocket science; Nigeria can deploy the same. Our road transport sector, which handles 90% of goods and passengers, should be the starting point for such a revolution,” he stated.

He called for a collective regional approach to transport development in the North Central, urging collaboration among states to achieve faster progress. He expressed hope that the conference would produce a North Central Transportation Master Plan with measurable targets to ensure policy continuity regardless of leadership changes.

Commissioner for Transport, Davou Gyang, commended Governor Barr. Caleb Mutfwang’s strides in revitalising Plateau State’s transport sector, citing improvements in land, air, and water transport, the resumption of rail services after two decades, the Metro Bus initiative, enhanced Lagos–Jos flights, and boat services on River Ebi linking Shendam to Taraba State.

Gyang said Plateau was the ideal choice to host the event, given its recent progress in infrastructure. The conference will feature a keynote address by Professor Ibrahim Choji and other transport experts, ending with tours of key transport facilities and tourist sites in the state.

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Seplat Energy Records 498% Profit Surge to $164m, Declares 12 Cents Dividend for H1 2026

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BY NKECHI NAECHE-ESEZOBOR—Seplat Energy Plc, a leading Nigerian independent energy producer listed on both the Nigerian Exchange and London Stock Exchange, has delivered a stellar financial performance for the half-year ended June 30, 2026. Driven by higher output and a favorable pricing environment, the energy giant posted a massive 498 percent year-on-year surge in Profit After Tax (PAT), reaching $164 million, compared to $4.0 cents per share in the corresponding period of 2025.

Gross revenue rose 30 percent to $1.82 billion from $1.398 billion in H1 2025, supported by an average realized oil price of $94.13 per barrel, representing a $7.47 premium to Brent crude. Strong operational execution expanded gross profits by 68 percent to $815.9 million, while cash generated from operations expanded 29 percent to $985.9 million.

In line with its strong balance sheet, Seplat declared a total second-quarter dividend of USD 12.0 cents per share ($72 million), comprising a USD 5.0 cents core payout and a USD 7.0 cents special dividend. Following robust performance and a newly reached agreement to sell a 10 percent interest in the NNPCL-SEPNU Joint Venture to NNPC Limited for $281.6 million, the company plans to raise its full-year 2026 dividend projection to USD 68.3 cents per share ($410 million)—a 173 percent growth year-on-year.

Operationally, group production averaged 139,509 barrels of oil equivalent per day (boepd) in the first half of 2026, marking a 4 percent growth year-on-year and remaining comfortably within full-year target guidance. Second-quarter output surged to 149,070 boepd, up 15 percent from the first quarter, boosted by onshore production improvements and an active idle well restoration program that restored 26,000 barrels per day of gross capacity across 24 wells. The firm also achieved 18.8 million man-hours across operated assets without any Lost Time Injury (LTI), while lowering carbon emissions intensity by 18 percent.

Financially, Seplat significantly deleveraged its balance sheet, making an early repayment and cancellation of $200 million under its Advanced Payment Facility. Consequently, Net Debt dropped 45 percent to $370.7 million by the end of June, pushing the Net Debt/EBITDA leverage ratio down to 0.25x and prompting S&P to upgrade the company’s credit rating to ‘B+’.

The strong half-year earnings coincide with scheduled executive leadership transitions. Engr. Effiong Okon took over as Chief Executive Officer from Mr. Roger Brown on August 1, 2026, while Mr. Tony O. Elumelu, CFR, is slated to succeed Senator Udoma Udo Udoma as Board Chairman on January 1, 2027.

Commenting on the results, outgoing CEO Roger Brown remarked that the company is handing over leadership from a position of unprecedented financial and operational resilience, backed by expanding cash flows, accelerated debt repayment, and historic returns for shareholders.

The post Seplat Energy Records 498% Profit Surge to $164m, Declares 12 Cents Dividend for H1 2026 appeared first on Business Today NG.

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Get up to $400 off your TechCrunch Disrupt 2026 pass until Friday

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Let’s cut to the chase: Starting today, you can take an additional $100 off of our current $300 discount for your founder, investor, or attendee TechCrunch Disrupt 2026 pass, which is a nice bonus on top of our current discounted pricing. 

This flash sale will run all week, up until Friday, August 7 at 11:59 p.m. PT. This discount will mark your last chance at a bonus deal before our next pricing tier kicks in on August 21. 

Register with this link to lock in your extra $100 off.

If you need to learn more before locking in your plans, Disrupt takes over Moscone West from October 13–15, bringing more than 10,000 founders, VCs, tech industry innovators, and builders for three days built around one thing: creating momentum for future success. 

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But that’s just one stage. Disrupt 2026 also features the: 

AI Stage, covering the security gaps and business model shifts AI is forcing on every SaaS company.

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The Builders Stage at TechCrunch Disrupt 2025
Image Credits:Slava Blazer Photography

Beyond the stages 

Most Disrupt passes also unlock Startup Battlefield, where 200 startups will compete live for the Battlefield Cup. You’ll also get access to networking opportunities driven by your needs as a founder, investor, or learner, plus our Expo Hall, where hundreds of startups showcase their work. 

This flash sale ends Friday 

After 11:59 p.m. PT on Friday, August 7, this extra $100 savings goes away. Regular discounted pricing ends on August 21. If Disrupt is on your radar for this year, this is the best deal you’ll get between now and the event. 

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When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.

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