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NNPC’s profit after tax rises to N431bn in August

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The Nigerian National Petroleum Company Limited (NNPC Ltd.) says it recorded a 54.5 per cent increase in Profit After Tax (PAT), rising from N279 billion to N431 billion in August 2026.

NNPC Ltd. made this known in its monthly operations and financial report for the month of August 2026.

According to the report, revenue for the period stood at N3.74 trillion as against N3.09 trillion recorded in July.

It said the company also recorded a 19.89 per cent increase in cumulative statutory payments, from N7.91 trillion for January to July, amounting to N9.49 trillion from January to August.

The report puts the average crude oil and gas production figures for the period at 1.69 million barrels per day (bpd) and 7,680 million standard cubic feet per day, respectively.

ALSO READ: NNPC posts ₦535 billion profit, records 1.72 million barrels daily oil output in June

On the state of infrastructure, it said there was 100 per cent availability of upstream pipelines, while the OB3 and Ajaokuta-Kaduna-Kano (AKK) Gas Pipelines stood at 100 per cent and 95 per cent completion, respectively.

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Nearly 90% of Nigerian Adults Support Methane Emission Cuts – Report

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Nearly 90 per cent of Nigerian adults support measures to reduce methane emissions, one of the most potent greenhouse gases contributing to global warming, a new survey has found.

The figure represents a 17-percentage-point increase from the 72 per cent recorded in 2024. The survey also found that more than half (53 per cent) of Nigerian adults are very concerned about climate change.

The Global Methane Hub (GMH) commissioned the survey in collaboration with the Yale Program on Climate Change Communication (YPCCC), and it was published on 29 October.

Conducted across Nigeria and 17 other countries, the international survey sought to measure public awareness of climate change and methane emissions, and to examine attitudes towards solutions for reducing methane pollution.

The findings show that concern is even greater regarding immediate environmental threats. About 67 per cent of Nigerian respondents said they were very concerned about poor water quality, while 60 per cent expressed similar concerns about flooding and access to drinking water. Another 55 per cent were very concerned about poor air quality.

Researchers said the findings reflect the growing effects of climate change in Nigeria, where increasingly intense rainfall and flooding are putting communities, infrastructure and water systems at risk.

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The findings also reinforce concerns PREMIUM TIMES has repeatedly highlighted about methane emissions across Nigeria’s oil and gas sector and their consequences for the lives and livelihoods of communities in oil-producing areas.

Nigeria faces significant methane emission challenges, largely driven by oil and gas production, routine gas flaring, venting and ageing infrastructure. Concerns have also persisted over the enforcement of regulations governing gas flaring and methane emissions.

Methane leaks and routine gas flaring in the Niger Delta have been linked to environmental pollution, contamination of local water sources, damage to farmlands and respiratory health risks.

In Bille, Rivers State, for instance, severe methane bubbling and contamination of water wells have reportedly created acute health and safety concerns for residents.

The continued burning and venting of associated gas also represents a significant economic loss, as billions of cubic feet of gas that could otherwise be captured and commercialised are wasted annually.

Growing environmental concerns

In July, heavy rainfall triggered widespread flooding across parts of Nigeria, including Lagos, as saturated soils increased the risk of flash floods. Authorities also warned that 27 states could be affected.

As the rainy season intensified, authorities subsequently placed 14 states on flood alert, highlighting the growing risks facing communities already struggling with flooding, deteriorating water quality and limited access to safe drinking water.

Methane is a short-lived climate pollutant and one of the most effective targets for slowing global warming in the near term. It is more than 80 times as potent as carbon dioxide over 20 years.

Reducing methane emissions can also deliver significant public health and economic benefits, including improved air quality and reduced pollution exposure.

“As flooding and water challenges put greater pressure on communities across Nigeria, the case for tackling methane is becoming increasingly clear,” said Marcelo Mena, Chief Executive Officer of the Global Methane Hub.

“This survey shows strong and growing support for methane action, with nearly nine in ten Nigerians now supporting efforts to reduce emissions. In the oil and gas sector, for example, cutting methane leaks, venting and flaring reduces pollution and safety risks for nearby communities while helping slow warming.

“It also makes Nigerian oil and gas more competitive, as buyers in markets like Europe increasingly demand lower-methane supply.”

Tengi George-Ikoli, Nigeria Country Manager at the Natural Resource Governance Institute (NRGI), said Nigerians had legitimate reasons to be concerned about methane emissions and their effects on health, the environment and livelihoods.

“Nigerians are right to be concerned about methane emissions and the harm they cause to health, environments and livelihoods,” she said.

“In parts of the Niger Delta, those costs are already being felt, so communities are justified in calling for stronger enforcement of environmental regulations and for clear mechanisms to prevent, mitigate and respond to methane-related harm.

“As Nigeria expands its use of gas, reducing methane emissions must remain a priority to support liveable communities, protect vulnerable populations and help the country meet its climate commitments.”

Anthony Leiserowitz, Director of the Yale Program on Climate Change Communication, said understanding public awareness and perceptions was essential to effective communication and policymaking.

“Understanding what people know and think is essential to effective public communication and policymaking,” he said.

“Methane reduction is one of the fastest ways to limit global warming, making it critical that the public understands both the challenge and the solutions.

“This research helps provide the data needed to identify public knowledge gaps, strengthen communication campaigns, and help informed citizens participate in these climate change solutions.”

Key findings of the survey

The survey found that 69 per cent of Nigerian respondents believe climate change is caused by human activities, while 89 per cent support measures to reduce methane emissions.

It also found that nearly two-thirds (64 per cent) of respondents were familiar with methane.

Oil and gas companies were identified as both significant contributors to climate change and important actors capable of addressing it.

About 57 per cent of respondents ranked oil and gas companies among the three entities most responsible for climate change, while 78 per cent considered them very capable of making meaningful changes.

Nigerians want industries to address climate change

The findings show broad support for reducing methane emissions across the three major sectors responsible for most human-caused methane pollution: agriculture, waste and energy.

In agriculture, 84 per cent of respondents supported efforts to minimise methane emissions, while 88 per cent backed measures to reduce emissions from waste disposal.

Similarly, 88 per cent supported reducing methane emissions from energy production.

Overall, the 89 per cent support for methane reduction matched the proportion of respondents who backed broader climate action.

The report said the findings demonstrate widespread public support for industry-led interventions and stronger environmental protections.

It also noted that Nigerians see corruption as a major obstacle to enforcing environmental regulations effectively.

With strong majorities supporting methane reduction across all three sectors, the report said policymakers and industries have an opportunity to advance solutions that reduce pollution while strengthening environmental accountability.

Global support for methane reduction remains strong

The international survey covered 18 countries across four continents: Brazil, China, Denmark, Ethiopia, Germany, Greece, Indonesia, Italy, Malaysia, Morocco, Nigeria, Paraguay, South Africa, South Korea, Spain, the United Arab Emirates, the United Kingdom and Uruguay.

The online survey gathered responses from 12,189 adults, including at least 700 respondents in Nigeria.

Participants were asked questions about their perceptions of climate change, environmental concerns, awareness of methane emissions and support for specific policies to reduce methane pollution.

Across the countries surveyed, 85 per cent of respondents supported action to reduce methane emissions, indicating widespread international backing for efforts to tackle the pollutant.

Support was particularly strong in Asia, Africa and Latin America, reaching 94 per cent in South Korea, 91 per cent in Malaysia, 90 per cent in China and Brazil, and 89 per cent in Nigeria and South Africa.

The findings also showed that respondents who reported experiencing greater climate change impacts were more likely to support measures to reduce methane emissions.

Across regions, respondents expressed concern about the tangible effects of climate change in their communities, including extreme heat, wildfires, drought, flooding and deteriorating water quality.

Waste emerged as a particularly prominent area for methane reduction in several countries, alongside strong support for interventions in the energy and agriculture sectors.

The report further highlighted public expectations for governments and industries to take greater responsibility for reducing methane emissions.

Why reducing methane is critical to tackling climate change

The report described methane reduction as one of the fastest ways to slow global warming in the near term.

Methane accounts for approximately 30 per cent of the warming experienced since pre-industrial times and is more than 80 times as powerful as carbon dioxide over 20 years.

Unlike carbon dioxide, which can remain in the atmosphere for centuries, most methane breaks down within approximately a decade.

According to the report, cutting human-caused methane emissions by 45 per cent this decade could prevent nearly 0.3 degrees Celsius of warming by 2045, helping to keep international climate commitments within reach.

Reducing methane emissions would also improve air quality, protect agricultural production, create jobs, strengthen food systems, reduce health risks, and improve community resilience.

The report stressed that because methane pollution crosses national borders, coordinated action among governments, businesses, researchers and communities is essential to achieving significant reductions.

Melissa Bell, Senior Vice President of Research at Global Strategy Group, GMH’s research partner, said the consistent findings across countries demonstrated sustained public support for methane reduction.

“The consistency of these findings sends a clear signal: support for reducing methane emissions is strong and sustained,” she said.

“People are concerned about the impacts of climate change, they support action across the major sources of methane emissions, and they expect those with the greatest ability to make a difference to take responsibility.”

Survey methodology

Global Strategy Group conducted the 10-minute online survey between 3 and 25 August 2026. The questionnaire was translated into 13 languages and administered across Europe, South America, Africa and Asia.

READ ALSO: Nigeria renews 2030 gas flaring pledge despite enforcement, methane monitoring gaps

Responses were collected from adults aged 18 and above who currently reside in the participating countries and have internet access.

The researchers applied weights for age, gender, geographical location, and education to ensure the samples represented adults with internet access in each country.

At least 700 responses were collected in 15 countries, including Nigeria, South Africa, China, Indonesia, Malaysia, South Korea, Morocco, Brazil, Denmark, the United Kingdom, Germany, Greece, Spain, Italy and the United Arab Emirates.

The margin of error was ±3.7 per cent in these countries, except Morocco and Brazil, where it was ±3.6 per cent.

In Ethiopia, Paraguay and Uruguay, at least 400 responses were collected, with margins of error of ±4.9 per cent, ±4.5 per cent and ±3.9 per cent, respectively.


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SMEs Celebrate Business Growth, Increased Visibility at Leadway Lifestyle Fair 2026

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Small and medium-sized enterprises (SMEs) have commended Leadway Group, one of Nigeria’s foremost non-bank financial services providers, for connecting them with new customers, boosting their visibility, and driving sales at the recently concluded Leadway Lifestyle Fair 2026. 

The second edition of the fair, themed “For the Love of the NaijaLifestyle”, ended on Sunday, 25 October, bringing together 100 businesses alongside consumers, lifestyle enthusiasts, content creators and celebrities. Throughout the event, vendors reported a steady flow of visitors to their booths, with many recording sales, meeting new customers and growing their social media following. 

For some exhibitors, it was their first exhibition showcase, and the results exceeded their expectations, as shown by the sales they made, the new customers they met and the visibility they gained from taking part in the fair. 

Speaking on the initiative, Niyi Abiola, Head, Corporate Services, Leadway Group, said the fair was created to give small businesses a platform to showcase their products and connect with consumers. 

“Lifestyle is an important part of how people live, connect and engage with the world around them. With the Leadway Lifestyle Fair, we wanted to create more room for businesses to showcase what they do and reach more people. Having grown from about 25 vendors in our first edition to 100 this year, we are encouraged by the response and look forward to making the experience even bigger in the years ahead,” Abiola said. 

Olusakin Labeodan, Managing Director/Chief Executive Officer, Leadway PFA speaking on behalf of Leadway Group, said the fair reflects the Group’s wider approach to building relationships with its customers beyond the financial solutions it provides. 

“The growth of the fair from its first edition to this year’s event shows the value of creating platforms that bring businesses and consumers together. At Leadway, our relationship with customers goes beyond the financial solutions we offer across insurance, pensions, wealth management, trusteeship, health and hospitality. We also recognise the importance of being part of their everyday experiences, and lifestyle is a significant part of that,” Labeodan said. 

With the number of participating businesses growing fourfold in a year, the Leadway Lifestyle Fair has quickly become a meeting point for Nigerian entrepreneurs and the consumers they serve. LeadwayGroup said it will continue to expand the platform in future editions, allowing more small businesses to reach new customers, grow their brands and celebrate the creativity that defines the Naija lifestyle. 

About the Leadway Group 

The Leadway Group is a diversified financial services ecosystem offering comprehensive retail and corporate non-banking financial solutions. Spearheaded by its non-operating holding entity, the Group provides a unified portfolio of cross-functional services through its market-leading associate companies: general and life insurance (Leadway Assurance), pension fund administration (Leadway PFA), corporate trusteeship and estate planning (Leadway Capital & Trusts), investment portfolio advisory (Leadway Asset Management), and health management (Leadway Health).  Driven by discipline and continuous innovation, Leadway Group is committed to securing future financial freedom and health outcomes for millions of customers across West Africa. 

The post SMEs Celebrate Business Growth, Increased Visibility at Leadway Lifestyle Fair 2026 appeared first on Business Today NG.

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