Uber has rolled out a feature in Nigeria that promises to revolutionize the way drivers receive their earnings.

Dubbed “Flex Pay,” this innovative initiative allows Uber drivers across the country to access their earnings daily, a significant departure from the previous weekly payment system.

The announcement came during a recent media briefing led by Tope Akinwumi, Uber Nigeria’s country manager.

Akinwumi expressed the company’s commitment to supporting its drivers by introducing Flex Pay, which aims to help drivers meet their financial obligations more promptly and efficiently.

With Flex Pay, drivers now have the flexibility to access their earnings directly through their mobile wallets on a daily basis.

This move is poised to bring about a host of benefits for drivers, offering them greater financial stability and control over their finances.

In addition to the introduction of Flex Pay, Uber also unveiled a set of new features designed to enhance the driver experience on the platform.

One such feature is the ability for drivers to see upfront details about a trip request, including the destination and expected fare.

This added transparency empowers drivers to make more informed decisions about which trips to accept, ultimately improving their overall experience on the platform.

Speaking about the new features, Akinwumi emphasized Uber’s commitment to prioritizing the needs and feedback of its driver-partners.

He highlighted the company’s ongoing efforts to innovate and develop solutions that enhance the driver experience and ensure their satisfaction with the platform.

“We are constantly listening to feedback from our driver-partners and striving to provide them with the tools and support they need to succeed,” said Akinwumi.

“The introduction of Flex Pay and other new features is a testament to our commitment to empowering our driver-partners and enhancing their experience on the Uber platform.”

The implementation of Flex Pay marks a significant milestone for Uber in Nigeria, demonstrating the company’s dedication to driving positive change and innovation in the ride-hailing industry.

As drivers begin to benefit from daily earnings and increased transparency, Uber is poised to strengthen its position as a leading provider of flexible earning opportunities in the country.

After a prolonged two-year wait, Exxon Mobil’s anticipated $1.28 billion asset sale to Seplat Energy is poised for approval by Nigeria’s oil regulator.

The deal, which has been in limbo since 2022, could finally see the light of day following recent communication from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

Gbenga Komolafe, the chief of NUPRC, revealed to Reuters on Thursday that the regulatory body is on the verge of giving its consent to the transaction.

Komolafe disclosed that Exxon Mobil and Seplat Energy are scheduled to attend a pivotal meeting on Friday, during which they will discuss the final steps towards approval.

He expressed optimism, stating, “Subject to the outcome of the meeting, consent… could be given in less than two weeks from the date of the meeting.”

According to Komolafe, NUPRC will present the companies with two mutually exclusive options, the acceptance of which would pave the way for the deal’s approval.

While he didn’t delve into specifics, he emphasized that Nigerian law mandates provisions for decommissioning, host community development, and environmental remediation.

“We don’t want our nation to carry unwarranted financial burdens arising from the operations of the assets over time by the divesting entities,” Komolafe asserted, underscoring the importance of responsible asset management.

The $1.28 billion sale holds immense significance for Nigeria’s oil industry, which has faced challenges stemming from underinvestment and security concerns in recent years.

With oil majors like Shell and TotalEnergies divesting from onshore shallow water operations due to security issues, regulatory approval of the Exxon-Seplat deal could inject much-needed capital into the sector.

Analysts view the impending approval as a potential catalyst for improved oil output in Nigeria. Moreover, it could serve as a positive signal to investors, paving the way for similar deals in the future.

The regulatory clearance of Shell’s asset sale to Renaissance in January has further bolstered expectations regarding the viability of such transactions.

As Nigeria looks to revitalize its oil sector and attract investment, the imminent approval of Exxon Mobil’s asset sale to Seplat Energy marks a significant milestone, bringing an end to a prolonged period of uncertainty and setting the stage for renewed growth and stability in the country’s vital energy industry.

DLM Trust, a subsidiary of DLM Capital Group is thrilled to announce the launch of DLM Single Asset Trust.

The model is a variant of the Living Trust construct that allows for a groundbreaking solution for individuals or Corporations seeking to settle assets into a trust, for the benefit of themselves and their chosen beneficiaries.

The DLM Single Asset Trust guarantees that peoples’ assets are protected and managed in accordance with their intentions by operating under the tenets of trust, security, and careful management. The DLM SAT offers a novel approach to trust services by fusing state-of-the-art technology with knowledgeable advice to enable people and families effortlessly manage their assets.

DLM SAT enables individuals, often referred to as Settlors, to create a single asset trust that will serve both their own and their designated beneficiaries’ purposes. The Trust Fund may be started using the Settlor’s assets/funds and then expanded with future contributions in accordance with the Settlor’s goals. Only authorised individuals, including the settlor, can access the trust because of its strong independent and confidentiality level. DLM Trust Company holds the Fund in trust and manages it for the benefit of the Settlor and designated Beneficiaries.

In a statement, MD of DLM Trust, Lola Razaaq commented on the introduction of the DLM Single Asset Trust, stating that it is a means of establishing a timeline for legacy preservation. “The DLM SAT is our newest offering, and we are thrilled to announce this important milestone for DLM Trust.” The aim of our organisation is to equip people and families with the necessary resources and assistance to safeguard and maintain their heritage for future generations. “Furthermore, we are transforming the concept of future planning with DLM Single Asset Trust.” she said.

DLM Trust Company Limited is registered with Securities and Exchange Commission (SEC) and incorporated under the Companies and Allied Matters Act to provide trust services to individuals, corporations, sub-sovereign entities. As always, strategic thinking and innovation will be combined by DLM Trust Company to offer its clients best-in-class services. Since its founding, DLM Trust has worked on a variety of creative and unique transactions, including securitizations, private and public bonds.