Business

NNPC Retail Unveils First Smart Self-Service Station in Abuja

Published

2 months ago

September 12, 2026

Customers in Abuja can now enjoy a more convenient and technology-enabled fuelling experience following the commissioning of NNPC Retail Limited‘s first Smart Self-Service Station on Bill Clinton Drive, Abuja.

The new station brings fuel, electric vehicle charging and other mobility and lifestyle services together in one location. Its 24-hour self-service system allows customers to complete fuel transactions independently; select the exact volume they require and pay at any time of the day or night.

NNPC Retail Limited, a subsidiary of the Nigerian National Petroleum Company Limited (NNPC Ltd), developed the station in partnership with the Nigeria Immigration Service (NIS), which provided the land for the project.

Speaking at the commissioning, NNPC Ltd’s Executive Vice President, Downstream, Mumuni Dagazau, said: “Today marks another important milestone in the evolution of NNPC Retail. The launch of this Smart Station reflects our commitment to innovation, convenience, operational efficiency, and most importantly, an exceptional customer experience.

NNPC Retail commended the NIS for its sustained cooperation, describing the collaboration as an example of the institutional partnerships required to deliver modern energy infrastructure across Nigeria.

Managing Director of NNPC Retail, Huub Stokman, said the Smart Station responds to changing consumer preferences across Nigeria’s downstream sector.

“More than ever, we need to meet the needs of Nigerian consumers. They want quality products at the right price, prompt and friendly service, more value-added offerings and convenient payment options. They also want to be rewarded for their loyalty, have access to more energy solutions, including EV charging and CNG, and, particularly among younger customers, receive these services sustainably. That is precisely what this Smart Station represents,” Stokman said.

Stokman acknowledged the contributions of the NIS, the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Africa Motor Works, technology partners, contractors and other stakeholders whose support was essential to the project’s delivery.

He reaffirmed NNPC Retail’s commitment to expanding the Smart Station model across the country, strengthening partnerships with public and private institutions, and building a more convenient, technology-enabled retail network centred on customers’ needs.

In her remarks, the Comptroller General, Nigeria Immigration Service (NIS), Kemi Nandap, represented by the Deputy Comptroller General, Finance & Accounts, Saidu Bashir Daura congratulated NNPC on the commissioning, describing the new station as a model for encouraging greater investment in sustainable energy infrastructure and innovative transportation solutions.

The station has 16 Premium Motor Spirit (PMS) pumps and two Automotive Gas Oil (AGO) pumps, supported by storage capacity of 180,000 litres of PMS and 5,000 litres of AGO. It also features an electric vehicle charging facility with an 86-point capacity, deployed in partnership with Africa Motor Works, as well as an LPG dispensing facility, a modern lubricant service bay and a fully automated car wash. Provision has been made for the future installation of Compressed Natural Gas (CNG) infrastructure.

Powered entirely by more than 200 kilowatt-hours of installed solar capacity, the facility also includes space for quick-service restaurants, a coffee shop and a convenience store. Together, these services position the station as a modern mobility and lifestyle destination rather than a conventional fuelling point.

The post NNPC Retail Unveils First Smart Self-Service Station in Abuja appeared first on Business Today NG.

Related Topics:abuja NNPC retail SelfService smart station Unveils

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Veritas Kapital Assurance Records 54% Growth in Total Assets to ₦54.56 Billion, Strengthens Financial Position

Published

3 hours ago

November 13, 2026

PlateauReports

Veritas Kapital Assurance Plc has recorded a 54 per cent increase in total assets to ₦54.56 billion as at September 30, 2026, compared to ₦35.40 billion recorded in the corresponding period of 2025, reflecting growth in the company’s financial position.

The company’s unaudited financial results for the nine months ended September 30, 2026, also showed a 60 per cent increase in total equity, which rose from ₦19.12 billion in 2025 to ₦30.59 billion.

This growth was supported by an increase in share capital from ₦6.93 billion to ₦14.43 billion and share premium from ₦663.6 million to ₦8.16 billion.

Further reflecting the growth in its financial position, cash and cash equivalents increased by 28 per cent, from ₦7.98 billion to ₦10.17 billion, while investment securities held at amortised cost more than doubled, rising from ₦12.45 billion to ₦25.64 billion.

The company also recorded a 34 per cent increase in net investment income, from ₦2.61 billion in the corresponding period of 2025 to ₦3.51 billion in 2026. This performance reflects the contribution of its investment portfolio to income during the period.

Commenting on the results, the Managing Director/Chief Executive Officer, Dr. Adaobi Nwakuche, said: “Our nine-month performance reflects notable developments in our financial position, particularly the growth in our asset base, equity position and investment income.

“As we continue to build on these gains, our focus remains on strengthening our core insurance business, enhancing operational efficiency and improving overall business performance.

“Our commitment to meeting our obligations to policyholders remains central to our business as we work towards delivering sustainable value to all stakeholders.

The results also highlight areas requiring continued management attention within the company’s underwriting operations. Insurance revenue stood at ₦15.41 billion, compared to ₦16.31 billion in the corresponding period of 2025, while the company recorded a loss after tax of ₦3.84 billion, against a profit after tax of ₦4.12 billion in the previous year.

This performance was largely attributable to increased insurance service expenses and net expenses from reinsurance contracts held.

Overall, the results reflect growth in Veritas Kapital Assurance’s asset base, equity position and investment income, alongside areas for improvement in its insurance operations.

The company remains focused on strengthening its core business, enhancing operational efficiency and sustaining its commitment to delivering dependable insurance solutions and long-term value to its stakeholders.

About Veritas Kapital Assurance Plc
Veritas Kapital Assurance Plc is a Nigerian insurance company providing general insurance solutions to individuals and businesses. The company is committed to delivering reliable insurance services and building lasting relationships with its customers and stakeholders.

The post Veritas Kapital Assurance Records 54% Growth in Total Assets to ₦54.56 Billion, Strengthens Financial Position appeared first on Business Today NG.

Business

Airline refunds aggrieved passenger’s fare, adds perks

Published

11 hours ago

November 12, 2026

PlateauReports

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Governance expert Joe Abah has confirmed he received a full refund of his flight ticket from United Nigeria Airlines after a six-hour flight delay.

Mr Abah disclosed that the airline refunded his ticket within 12 hours of his request and offered him a 50 per cent discount on a future flight for four months.

In a post on X on Thursday, Mr Abah said the airline has apologised, refunded his money, and offered compensation following the disruption to his Enugu-Abuja journey.

“I can confirm that I have now received a full refund from @flyunitedng and that the refund came within 12 hours of my making the request,” he wrote.

“They also offered compensation of 50 per cent off a future flight for the next four months. They have thus apologised, offered compensation, and speedily refunded my money. These are good remedial steps,” he added.

PREMIUM TIMES reported on Wednesday that United Nigeria Airlines apologised to Mr Abah over the delay, acknowledging that its communication and follow-up with affected passengers fell below expectations after he called out the airline on X and questioned its handling of the disruption.

Mr Abah had said his flight, scheduled to depart Enugu for Abuja at 8:30 a.m. on Tuesday, was delayed until 3 p.m., prompting him to demand an immediate refund and question the airline’s explanation.

United Nigeria Airlines, in its response, said its aircraft encountered worsening weather conditions while approaching Akanu Ibiam International Airport, Enugu, forcing it to divert to Anambra in line with safety procedures.

The airline said weather conditions can vary across routes and airports and change quickly, explaining why other aircraft might land while its own could not.

It also acknowledged that keeping passengers adequately informed remains its responsibility, even though weather-related disruptions are sometimes beyond its control.

Following the airline’s response, Mr Abah demanded an immediate refund after purchasing another airline ticket to complete his journey.

The airline subsequently asked him to submit a refund request through its official website, promising immediate processing rather than the usual seven working days.

READ ALSO: Nigerian airline removes passenger after threat to ‘burn down’ aircraft

Mr Abah’s latest confirmation indicates the refund was completed within 12 hours of his request.

The development resolves the refund dispute and highlights how public complaints draw attention to passenger concerns over flight delays, communication, and refund procedures among domestic airlines.

Nigeria’s Civil Aviation Regulations contain consumer protection provisions covering flight delays, cancellations, passenger assistance and compensation in qualifying circumstances.

The NCAA advises passengers to first lodge complaints with airlines and escalate unresolved cases to its Consumer Protection Department.