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NEWS EXPRESS is Nigeria’s leading online newspaper. Published by Africa’s international award-winning journalist, Mr. Isaac Umunna, NEWS EXPRESS is Nigeria’s first truly professional online daily newspaper. It is published from Lagos, Nigeria’s economic and media hub, and has a provision for occasional special print editions. Thanks to our vast network of sources and dedicated team of professional journalists and contributors spread across Nigeria and overseas, NEWS EXPRESS has become synonymous with newsbreaks and exclusive stories from around the world.
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The federal government has officially approved Seplat Energy?s purchase of Exxon Mobil?s onshore assets valued at $1.28bn.
The approval was confirmed by the chief executive officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe on Monday.
Komolafe while speaking at the NUPRC?s 3rd Anniversary event in Abuja said that the ministerial approval had now been secured.
The approval comes more than two years after the deal was announced in February 2022, signalling a prolonged regulatory delay.
President Bola Tinubu had indicated on October 1 that the final approval would be granted within days, following clearance from the regulatory body.
Seplat Energy will acquire a 40 per cent stake in four oil mining leases as a result of the approval.
The company will also get key infrastructure, including the Qua Iboe export terminal and a 51 per cent stake in the Bonny River natural gas liquids recovery plant, both previously owned by Exxon?s local subsidiary, Mobil Producing Nigeria Unlimited. (Channels TV)
