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NPDC, Ogoni People Pledge Cooperation on Oil Production
Convener and leader of the Ogoni Liberation Initiative, Rev. Douglas Fabeke (left), presenting a communique from the Ogoni leaders to the Managing Director, Nigerian Petroleum Development Company (NPDC), Mr. Mohammed Ali-Zarah, who was invited as guest to the Ogoni Liberation Day celebration which held in Bori, Rivers State..Tuesday.
The leaders of Ogoniland in Rivers State under the auspices of the Ogoni Liberation Initiative have pledged to cooperate with the Nigerian Petroleum Development Company (NPDC) in the exploration and production of oil and gas resources in its territory.
The Ogoni leaders made the pledge Tuesday at the Ogoni Liberation Day which held in Bori with the Managing Director of NPDC, Mr. Mohammed Ali-Zarah, as an invited guest.
Speaking at the event, the Convener and leader of the Ogoni Liberation Initiative, Rev. Douglas Fabeke, commended the Court of Appeal for the judgement confirming NPDC as the valid operator of Oil Mining Lease (OML) 11, stressing that the Ogoni people welcomed with great joy the intervention of the Federal Government and the takeover of the oil assets by NPDC following the judgement of the Appeal Court in Abuja.
The Ogoni leader described the judgment that handed OML11 to NPDC as liberation for the Ogoni people, stressing that the people of Ogoni have “looked forward to this freedom over the years”.
He further praised President Muhammadu Buhari for his administration’s commitment to the development of Ogoniland, adding that his people would support all efforts aimed at restoring the environment and exploring its huge natural resources for the benefit of all.
He declared that Ogoni leaders have resolved to eschew bitterness and work with the Federal Government to ensure that the people benefitted from the resources in their land.
“The Ogoni people are ready for oil and gas business in the land to entrench development in partnership with the NNPC and the Federal Government of Nigeria through a transformed template and practical community development delivered by the host communities.
The Ogoni people are ready to do all forms of businesses with the State, Federal and Global Corporate Communities for the development of their land, provided the business is anchored upon Ogoni development,” he said.
He submitted a communique on behalf of the people of Ogoni to the Federal Government as the request of Ogoni people and as condition for the mutual relationship between the people and NPDC.
The communique, among other things, requested that “the issue of clean-up in Ogoniland should be re-visited and the Government should mandate the handling agency to expedite actions and clean the land in tune with the UNEP Report’s recommendation or allow the Ogoni people to bring experts that would perfectly implement the recommendations of the UNEP Report to the letter”
It also called on the Federal Government to expedite action on the provisions of infrastructure to the Ogoni people.
“The Ogoni people will not work under any political manipulation that will affect the development and smooth operation in the land without capturing the interest of the people. We stand by every word drafted here and will implement it to the letter, and also ready to give the Federal Government of Nigeria maximum cooperation to achieve its aim for the success and benefit of the nation and the Ogoni people.” the communique stated.
In his remarks, the Managing Director of NPDC, Mr. Mohammed Ali-Zarah, said the company understood the concerns and yearnings of the Ogoni people and shared in their pain.
He said NPDC and the Federal Government would work with the Ogoni people to bring development, employment and growth to the land, remediate the environment and ensure that future exploration and production activities do not impact negatively on the environment.
Ali-Zarah noted that the large turn-out of people, including traditional rulers, at the event was a huge moral boost to NPDC’s confidence in its re-entry plan.
“Indeed, this is a clear testimonial and demonstration of the strong cordial relationship that has existed between us over the years. This, for us, is our social license to operate in this peace-loving community”, the Managing Director said.
He observed that it was in the best interest of the country to speedily restore the environment of Ogoniland and create the needed condition for the social economic development of the communities.
“As a viable partner, we would join you to pursue the greater good of our people and the nation. We stand with you and would work with you to achieve this within the shortest possible time,” he said.
On the communique submitted by the Ogoni Liberation Initiative signed by leaders of various communities that make up Ogoniland, Ali-Zarah assured them that he would send the document to the management of the Nigerian National Petroleum Corporation for onward transmission to the relevant quarters, including the Presidency.
Oil production operations were suspended in Ogoniland in the early 1990s due to disruptions caused by local unrest. The oilfields and other installations have since largely remained dormant.
Hope was, however, rekindled last week following an Appeal Court judgment that paved the way for NPDC to take over the operatorship of the oil assets in Ogoniland from Shell.
The Appeal Court sitting in Abuja upturned the August 23, 2019, ruling of the Federal High Court, Abuja which held that the Shell Petroleum Development Company (SPDC) was entitled to the renewal of the Lease on OML 11.
In the ruling, the Appellate Court held that the Minister of Petroleum Resources has the discretion whether or not to renew the OML 11 Lease in favor of SPDC. The Court further held that the Minister rightly exercised his discretion in awarding the OML 11 Lease to NPDC, a subsidiary of the Nigeria National Petroleum Corporation (NNPC).
Zenith Bank Plc is set to launch the maiden edition of its Girl-Child Empowerment Programme, an initiative aimed at inspiring young girls to dream boldly, develop the skills and confidence to pursue their aspirations, and prepare for meaningful opportunities in the future.
The event, themed “Banking On Her Tomorrow,” is the brainchild of the Bank’s Group Managing Director/Chief Executive Officer, Dame Dr. Adaora Umeoji, OON, the first female GMD/CEO in Zenith Bank’s history and a strong advocate for girl-child education and empowerment. The event will be held virtually on Monday, October 12, 2026, at 11:00 a.m., a day after the International Day of the Girl Child, observed globally on October 11.
The programme, which will feature an impressive lineup of distinguished experts in various fields, seeks to provide girls with the inspiration, knowledge and practical perspectives needed to navigate their education and careers, while exposing them to opportunities in skills development, mentorship and leadership. As an annual platform, it will encourage girls to recognise their potential, broaden their aspirations and equip themselves to make informed choices about their future.
The initiative builds on Zenith Bank’s longstanding commitment to women and girls, demonstrated through programmes and platforms including the Bank’s annual International Women’s Day Seminar, its sole sponsorship of the Zenith Women’s Basketball League, the Women of Honour Awards in partnership with the Ford Foundation, and the Pad-a-Queen Initiative. These complement the Bank’s women-focused financial solutions, including the Z-Woman initiative, an empowerment programme that supports women-owned and women-led businesses through specialised funding, capacity building and networking. Together, these initiatives reflect the Bank’s broader commitment to supporting women and girls at different stages of their lives, and to contributing meaningfully to national development.
This maiden edition is open to all, with girls, parents, educators and other members of the public invited to participate. Interested participants can register via the link below. Those unable to join via Zoom can follow the live stream on Zenith Bank’s social media platforms.
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GTCO Plc Releases 2026 Half Year Audited Results …….. Reports Profit Before Tax of ₦603.03billion,Pays Interim Dividend of ₦1
Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Audited Consolidated and Separate Financial Statements for the period ended June 30, 2026, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).
The Group posted a profit before tax of ₦603.03 billion, driven by strong performance recorded on the interest and trading income lines, which grew y-o-y by 7.5% and 24.7%, respectively. The strong earningsrecorded was moderated by a ₦46.2 billion fair value loss recognized in H1–2026, limiting y-o-y growth in PBT to 0.4%.
The Group grew across its asset lines, reinforcing a balance sheet that is well structured, liquid and diversified. This growth was recorded in each jurisdiction where we operate a banking franchise, and across our Payments, Pension and Funds Management businesses.”
Group’s Total assets and shareholders’ funds closed at ₦18.6trillion and ₦3.3trillion, respectively. Capital Adequacy Ratio (CAR) remained very strong, closing at 34.9% (Bank 29.2%), and asset quality improved as evidenced by IFRS 9 Stage 3 Loans which closed at 3.5% and 4.6% % at both Bank and Group Level in H1-2026 (Bank -3.4%, Group 5.0% in FY-2025). Cost of Risk (COR) improved to 0.6% from 2.2% during the same period.
The Group’s Loan book (net) grew marginally by 0.5% from ₦3.13trillion as of December 2025 to ₦3.15trillion in June 2026, converse for improved performance on Deposit liabilities which grew by 10.3% from ₦12.87trillion to ₦14.19trillion during the same period.
Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc (GTCO Plc), Mr. Segun Agbaje, said; “Our half year results speak to the strength of what we have built: a resilient franchise, a strong balance sheet and a business that no longer depends on banking alone. Fair value movements weighed on reported earnings, but the core business held firm. Interest and trading income grew, deposits strengthened, and asset quality improved at Group level. The priority now is to execute with discipline and grow responsibly. Digital is our lever for scaling across Banking, Payments, Pension and Funds Management, and for building a more diversified and resilient financial services group.”
Overall, the Group continues to post one of the best metrics in the Nigerian Financial Services Industry in terms of key financial ratios i.e., Pre-Tax Return on Equity (ROAE) of 35.9%, Pre-Tax Return on Assets (ROAA) of 6.6%, Capital Adequacy Ratio (CAR) of 34.9% (Bank: 29.2%) and Cost to Income ratio of 31.5%.
GTCO Plc is a leading financial services group with operations across Africa and the United Kingdom. Renowned for its strong corporate governance, innovative financial solutions, and customer-centric approach, the Group provides a wide range of banking and non-banking services including payments, funds management, and pension fund administration. The Group is committed to delivering long-term value to stakeholders while driving growth and development across its markets
The road to the 2026 Zenith Bank NBBF Women’s Basketball League title reaches its defining stage as the nation’s top eight teams converge on the Indoor Sports Hall of the National Stadium, Surulere, Lagos, from September 28 to October 3, 2026, for the highly anticipated national Finals.
Emerging from fiercely contested Atlantic and Savannah Conference campaigns, Nigeria Customs, AS Sky Queens, Titans, Air Warriors, MFM, First Bank, Victoria Queens,and Bayelsa Blue Whales have earned their place in the final battle for national honours.
And there is plenty to look forward to.
Last year’s champions, Dolphins Basketball Club, who lifted the trophy after defeating First Bank in the final, will not be in the mix this year after failing to make the top 4 of the Atlantic Conference, leaving the title firmly up for grabs and setting the stage for a new champion to emerge.
But the trophy will be contested by teams with plenty of championship pedigree.
First Bank, last year’s finalist and the most successful team in the history of the competition, arrives with a record nine league titles, while MFM will be looking to draw on its recent dominance after winning back-to-back championships in 2023 and 2024. With both sides among the Final 8, history, experience and ambition will collide as the battle for the crown unfolds.
It is a level of competition that reflects the growth of a league that has, for more than two decades, provided a platform for Nigeria’s best female basketball talents to emerge, compete and develop. At the heart of that journey has been Zenith Bank, the sole sponsor of the National Women’s Basketball League since 2005.
Through its partnership with the Nigeria Basketball Federation (NBBF), Zenith Bank has consistently supported the development of women’s basketball, helping to provide and sustain a competitive platform where talents can be discovered, nurtured and prepared for the highest levels of the sport.
The league has also served as an important pathway to theNational Women Basketball team, D’Tigress, with several players who have featured prominently for Nigeria emerging from the domestic competition. Beyond the national team, the league continues to contribute to youth development by giving young female athletes the opportunity to build confidence, skill, discipline, teamwork and professional sporting careers.
Now, the spotlight turns to Lagos. Which team will grab theopportunity to write a new chapter in the history of Nigerian women’s basketball?
Eight teams. One destination. One crown.
For Zenith Bank, the sponsorship of the Women’s Basketball League represents more than support for a sporting competition. It reflects the Bank’s broader commitment to creating platforms that provide opportunities, develop potential and make a meaningful difference in the lives of young Nigerians.
This commitment extends across several areas of community development, with notable initiatives including:
Through these initiatives and its longstanding support for women’s basketball, Zenith Bank continues to demonstrate that its commitment to society goes beyond banking, with a focus on creating opportunities and contributing to the development of communities and the next generation.
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