- Indians, Britons Key into Nigeria’s e-Dividend Mandate Scheme
Indians and Britons have emerged the two dominant sets of players, among other foreign players, in Nigeria’s electronic dividend mandate exercise for the capital market.
Latest data released by the Nigeria Inter-Bank Settlement System Plc showed that aside from Nigerian investors, Indian and British investors topped the e-dividend register with 156 and 142 cases, respectively.
In addition, 0.4 per cent of the foreign investors are non-resident in Nigeria.
While 421,377 of the investors on the platform are Nigerians, the numbers of Indian, Lebanese and American investors are 109, 46 and 32, respectively.
In terms of states of residence, Lagos and Abuja came tops as 38 per cent of the investors are based in Lagos, while eight reside in the Federal Capital Territory.
Rivers, Ogun and Oyo states follow on the list as a total of six, five and five investors reside in them respectively.
Age distribution of the investors show that investors between 45 and 54 dominate the process, recording 31.3 per cent compliance. This is followed by the 35 to 44 age range, which has 24.9 per cent compliance.
The 55 to 64 age range drove 22.6 per cent of the process, while age ranges 65 and above, 25 to 34 and 15 to 24 achieved 12.2 per cent, 8.1 per cent and 0.9 per cent compliance, respectively.
The NIBSS recently revealed that indigenes of Anambra State were the highest subscribers to the electronic dividend mandate of the Securities and Exchange Commission, with 10 per cent participation.
The e-Dividend mandate registration update, as of the last release, revealed that Imo, Ogun, Delta and Edo states followed with nine per cent, nine per cent, seven per cent and six per cent participation, respectively.
The total e-Dividend registration stood at 2.1 million, the total unique investors by accounts was 838,671, while the total unique investors by Biometric Verification Number stood at 433,164.
Baker Hughes Set to Boost Nigerian Energy Landscape with Refinery Investments and Oil Field Bid Participation
Global oil and gas giant Baker Hughes has expressed its commitment to invest in Nigerian refineries and actively participate in the upcoming bid round for marginal oil fields, according to an announcement by the Federal Government on Sunday.
The announcement followed a meeting between Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, and Baker Hughes Chairman/President Lorenzo Simonelli at the 28th United Nations Climate Change Conference in the United Arab Emirates.
During the meeting, Baker Hughes expressed its eagerness to sustain and enhance its investments in Nigeria’s oil and gas industry, particularly showcasing interest in contributing to the country’s refinery sector.
Simonelli emphasized the company’s commitment to supporting Nigeria’s energy transformation agenda.
“Nigeria is a blessed nation with vast potentials and great opportunities in diverse sectors. As a partner with the Federal Government over the years, we are inspired to direct investment in the refinery domain of oil and gas,” said Simonelli.
In response, Minister Lokpobiri welcomed Baker Hughes’ move, highlighting the pivotal role Nigeria plays in the global energy landscape.
He expressed optimism about deepening collaboration and assured the company of the Federal Government’s commitment to creating an enabling environment for investments in the refinery sector.
“I am very happy that you have joined other companies in identifying the great opportunities and government’s favourable policies in our oil and gas sector,” Lokpobiri stated.
Additionally, the Minister’s media aide confirmed Baker Hughes’ interest in participating in Nigeria’s forthcoming marginal oil fields bid round, signaling a broader engagement in the nation’s energy sector.
This move aligns with Nigeria’s efforts to revitalize its oil and gas industry, with ongoing rehabilitation works at the country’s three refineries and the anticipation of increased investments under the new Petroleum Industry Act (PIA).
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