In a major boost for Nigeria’s energy future, the National Association of Petroleum Explorationists (NAPE) has pledged strategic collaboration with the Nigerian National Petroleum Company Limited (NNPC Ltd.) to advance frontier exploration and human capital development.
Duringa courtesy visit to the NNPC Towers in Abuja, NAPE President, Johnbosco Uche, led a delegation to meet with Engr. Bashir Bayo Ojulari, the Group Chief Executive Officer of NNPC Ltd.
The discussions centered on discovering new oil and gas reserves, expanding frontier exploration projects across the nation, and strengthening technical partnerships through the NNPC Academy to nurture the next generation of energy professionals.
Both parties reaffirmed their commitment to innovation, capacity building, and sustainable growth in Nigeria’s oil and gas industry signaling a renewed drive to power the nation’s energy ambitions.
[2:30 PM, 10/16/2025] murtadoishola: CBN says Nigeria’s foreign reserves now at five-year high of $43bnMohammed Abdullahi, the deputy governor of the Central Bank of Nigeria (CBN) for economic policy, says the country’s foreign exchange (FX) reserves have climbed to a five-year high of $43.4 billion.
Abdullahi spoke at the Nigeria Investors Forum held in Washington, D.C, United States, on the sidelines of the IMF–World Bank annual meetings, where he led discussions on Nigeria’s economic outlook and reform progress.
He said the reserves, which hit the mark on October 10, despite clearing foreign exchange backlogs, provide 11 months of import cover.
“Our gross reserves are at a five-year high of $43.4 billion as of October 10, enough to cover 11 months of imports,” Abdullahi said.
“This growth comes after clearing FX backlogs and improving liquidity across the market.
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