Business
NUPRC’s Gbenga Komolafe Makes List of Continental Experts to Speak at Pan-African Parliament 2025 Session*
*NUPRC’s Gbenga Komolafe Makes List of Continental Experts to Speak at Pan-African Parliament 2025 Session*
Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has been listed among leading continental experts invited to address the Sixth Ordinary Session of the Pan-African Parliament (PAP) in November 2025.
The invitation — extended to Komolafe in his capacity as both NUPRC Chief Executive and interim President of the Africa Forum for Petroleum Regulators and Frameworks (AFRIPERF) — marks a rare recognition of Nigeria’s leadership in upstream oil and gas reforms under the administration of President Bola Ahmed Tinubu.
The Bureau of the Pan-African Parliament, in a letter dated October 17, 2025, invited Komolafe to deliver a paper on ‘Legislative Frameworks for Sustainable Upstream Regulation in Africa’s Oil and Gas Sector’ during the upcoming session.
“This topic explores how robust legislative reforms can advance sustainability in Africa’s upstream oil and gas operations, inviting insights from your leadership at NUPRC and as Acting Chairman of AFRIPERF,” the letter reads.
According to the Bureau, the Parliament looks forward to Komolafe’s reflections on Nigeria’s Petroleum Industry Act (PIA) and how its model of transparency, community inclusion, and investment-friendly regulation can guide continental efforts toward a harmonised energy governance framework.
The invitation noted that insights from Nigeria’s recent petroleum reforms would help PAP develop model laws across member states to improve transparency, environmental standards, and revenue fairness in the extractive sector.
This is the second time in recent years that a Nigerian public official has been invited to address the PAP’s plenary session — a platform traditionally reserved for African thought leaders and reformers whose work has contributed to the continent’s development agenda.
Komolafe’s recognition, observers say, underscores how far-reaching the impact of the PIA and its subsequent implementation has become under Tinubu’s reform-driven administration.
Since assuming office as NUPRC’s Chief Executive, Komolafe has championed a new culture of transparency and performance in Nigeria’s upstream sector. His leadership has been credited with streamlining licensing procedures, enforcing environmental accountability, and restoring investor confidence in the industry.
Under his watch, Nigeria’s crude oil production has recovered to around 1.7 million barrels per day, while gas flaring has been reduced to 7.16 percent — one of the lowest levels in two decades.
The PIA’s fiscal clarity and community development provisions have also improved relations between oil companies and host communities, setting new standards for responsible resource management.
The Bureau of the Pan-African Parliament said Komolafe’s address would form part of the session’s broader agenda to support the African Union’s Agenda 2063 — particularly its goals of inclusive growth, environmental protection, and energy transition across the continent.
Analysts view the invitation as a milestone not just for Komolafe but for Nigeria’s global reputation as a reform-minded energy leader. They argue that the Tinubu administration’s ongoing efforts to institutionalise transparency and accountability in the oil and gas sector have repositioned the country as a credible voice in continental economic governance.
By being selected to address the plenary, Komolafe joins a distinguished circle of Africans whose work in regulatory innovation and sustainable development has shaped continental policymaking.
His participation is expected to strengthen collaboration among African energy regulators and advance the continent’s quest for a just and inclusive energy transition.
JuWonOil Expands Into U.S. Gulf LNG Bunker Market
HOUSTON, October 30, 2025 — Houston-based marine fuel and lubricant trading firm JuWonOil LLC has officially expanded into the liquefied natural gas (LNG) bunkering market, positioning itself at the forefront of clean energy adoption across the U.S. Gulf Coast.
The company is currently developing structured logistics for small-scale LNG bunkering and distribution, engaging with LNG suppliers, terminal operators, and vessel owners operating in Houston, Galveston, Corpus Christi, and Sabine Pass, a company representative told Ship & Bunker on Wednesday.
> “JuWonOil LLC is pleased to announce its formal entry into the LNG trading and bunkering market, further advancing our mission to provide innovative, sustainable marine fuel solutions across the Gulf Coast and international ports,” the representative said.
“Our expansion into LNG marks a strategic step toward the clean energy transition and reflects the growing market demand for low-carbon bunkering alternatives in major U.S. and African ports.”
Founded in September 2024, JuWonOil initially specialized in marine lubricants and conventional marine fuels across Texas ports and anchorages. Its latest move underscores the company’s commitment to diversifying its energy portfolio amid a global shift toward greener maritime operations.
The firm’s Chief Executive Officer, Juwon Lawal, a Kogi State, Nigeria–born entrepreneur, previously served as managing director of Dubai-based Africent Group. Lawal also brings extensive experience from his previous roles in bunker supply for Winson Oil Trading and ST&L Bunkers Ltd.
With its entry into the LNG sector, JuWonOil aims to leverage its growing network to support the energy transition and facilitate sustainable marine logistics across both sides of the Atlantic.
GTCO Plc Releases 2025 Q3 Unaudited Results
…….. Reports Profit Before Tax of ₦900.8billion
Guaranty Trust Holding Company Plc (“GTCO” or “the Group”) has released its Unaudited Consolidated and Separate Financial Statements as of September 30, 2025, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).
The Group posted profit before tax of ₦900.8billion on the back of strong performance on the core earnings lines of interest income and fee income which grew y-o-y by 25.6% and 16.8% respectively. The strong core-earning performance continued to narrow the y-o-y dip in PBT to 26%, thereby cushioning the impact of the ₦523.2bn fair value gains recognised in Q3-2024, which did not recur in Q3-2025.
The Group recorded growths across all its Asset lines and continues to maintain a well-structured, healthy liquid and diversified balance sheet in all the jurisdictions wherein it operates a Banking franchise, as well as across its Payments, Pension and Funds Management business verticals.
Group’s total assets and shareholders’ funds closed at ₦16.7trillion and ₦3.3trillion, respectively. Capital Adequacy Ratio (CAR) remained very robust and strong, closing at 36.5%, likewise asset quality improved as evidenced by IFRS 9 Stage 3 Loans which closed at 3.3% and 4.4% % at Bank and Group level in Q3-2025 (Bank 3.5%, Group 5.2% in December 2024). Cost of Risk (COR) also improved to 2.2% from 4.9% in December 2024. In specific terms, the Group’s loan book (net) grew by 16.5% from ₦2.79trillion as of December 2024 to ₦3.24trillion in September 2025. Similarly, deposit liabilities grew by 16.0% from ₦10.40trillion to ₦12.06trillion during the same period.
Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr. Segun Agbaje, said: “Our third quarter performance underscores the consistency and resilience of our business model, as well as the continued strength of our diversified financial services ecosystem. We are seeing steady, sustainable growth across our banking and non-banking businesses, supported by disciplined execution and a strong focus on operational efficiency. The improvements we have made to our digital and payments infrastructure are enhancing customer experience, deepening engagement, and driving greater integration across our ecosystem.”
He further stated: “Looking ahead, our focus remains on advancing our competitive edge through innovation, operational excellence, and a commitment to superior customer outcomes. With a clear growth trajectory and strong organizational alignment, we are well-positioned to sustain performance momentum and deliver another year of industry-leading results.”
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 39.5%, Pre-Tax Return on Assets (ROAA) of 7.6%, Capital Adequacy Ratio (CAR) of 36.5% and Cost to Income ratio of 28.8%.
Guaranty Trust Holding Company 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, GTCO Plc 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
Business
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