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Afreximbank Upsizes Reserve-based Lending Facility for Oando to $375m

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By Tony Obiechina, Abuja

African Export-Import Bank (Afreximbank) has successfully completed upsizing its reserve-based lending facility in favour of Oando Oil Limited to US$375 million.

The company’s pay down of the original US$525-million facility, secured in 2019, to US$100 million in 2024 created significant headroom for refinancing and enhancing Oando’s financial flexibility.

The upsizing, led by Afreximbank, with support from Mercuria Asia Resources PTE Limited (Mercuria), which marks a key milestone in Oando’s strategic capital management, will support Oando’s ambition to achieve production of 100,000 barrels of oil per day and 1.

5 billion cubic feet of gas per day by the end of 2029, effectively boosting Nigeria’s oil output and reinforcing the country’s position in the global energy market.

The upsizing is further expected to drive local economic growth by creating jobs, improving infrastructure, and fostering technological advancements in the oil and gas sector.

Commenting on the development, Group Chief Executive, Oando PLC and Executive Chairman, Oando Energy Resources, Wale Tinubu said: “We are pleased to have completed the upsizing of our RBL facility, a strategic milestone that reinforces our commitment as Operator of the Oando-NEPL JV to maximizing the value of our expanded asset portfolio. Our Joint Venture holds extensive reserves with the potential to generate over $11 billion in net cash flows to Oando over the assets’ life. This working capital facility is a critical enabler towards efficiently extracting and monetizing these resources.

“We appreciate the continued partnership of Afreximbank and Mercuria, whose unwavering support underscores their alignment with our long-term focus on maximizing production, optimizing asset performance, and delivering sustainable value to all stakeholders”.

In his own comments, Haytham Elmaayergi, Executive Vice President, Global Trade Bank, Afreximbank, described the transaction as a critical step in advancing Afreximbank’s strategy for promoting local content in Africa’s oil and gas sector.

“Afreximbank remains a longstanding financial partner to Oando PLC and its affiliates and has consistently supported the company’s growth and expansion initiatives.

“We are delighted that Mercuria, one of the world’s largest independent energy and commodities groups and one of our partners, has brought its global expertise and financial backing to the transaction, further strengthening Oando’s ability to execute its production growth strategy.”

NEWS

NYSC Doctor Donates 155 Menstrual Cups to Policewomen in Jos

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From Jude Dangwam, Jos

A National Youth Service Corps (NYSC) member Dr. Hope Adeyi serving at Police College Cottage Hospital in Jos, Plateau State, has donated 155 menstrual cups to policewomen, wives of police officers alongside civilian staff.

The donation was made during the “Affordable and Hygienic Menstruation for Every Woman” outreach held at the Nigeria Police Staff College on Tuesday in Jos the Plateau State capital.

According to Adeyi, “The cost of sanitary pads has risen sharply nationwide, and for many families, it has become increasingly unaffordable.

“As a result, some women are now forced to use unsafe alternatives such as old rags, tissue paper, or improvised materials.

Unfortunately, these practices significantly increase the risk of reproductive tract infections, urinary tract infections, bad odour, discomfort, and reduced confidence,” she stated

The Doctor Copper highlighted the benefits of menstrual cups, saying, “Menstrual cups offer several benefits; they are safe, reusable, and environmentally friendly. A single cup can last up to 10 years when properly cared for. They only require regular washing with clean water, which is readily available in our community.

“They greatly reduce the financial burden of buying monthly disposable pads and help prevent infections by promoting cleaner and safer menstrual practices,” she explained.

She emphasized that providing the cups is more than a donation: “By providing menstrual cups to our women today, we are not just giving a product, we are offering long‑term relief, health protection, and empowerment. This project ensures that no woman in our community has to choose between her health and affordability,” she maintained.

The initiative she said was made possible by generous sponsors, whose contributions Dr. Adeyi thanked. “Your contributions go beyond financial support—they demonstrate a deep commitment to the dignity and health of women in this community. We thank you sincerely,” she said.

The NYSC doctor urged the women present to prioritize their health and dignity noting that, “Your health matters. Your comfort matters. Your dignity matters. Today’s outreach is a step toward ensuring that every woman in this community is supported, protected, and empowered,” she emphasised.

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NEWS

Mutfwang Congratulates Gen. Danjuma on 88th Birthday, Lauds His Philanthropy

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From Jude Dangwam, Jos

Plateau State Governor, Caleb Mutfwang, has extended his warm congratulations to Lt. Gen. Theophilus Yakubu Danjuma on his 88th birthday.

In a statement signed by his Director of Press and Public Affiars Gyang Bere and made available to Newsmen on Tuesday described Gen.

Danjuma as “a symbol of excellence, an exemplary philanthropist, and a symbol of hope whose life has been wholly devoted to the defence, progress, and upliftment of humanity”.

Mutfwang praised Gen. Danjuma’s outstanding contributions to national life, citing his courageous military service, visionary business leadership, and transformative philanthropic work.

“You remain a priceless national asset and an extraordinary achiever who has enjoyed uncommon grace from God to lead, to serve, and to excel in diverse spheres of human endeavour,” he stated.

The Governor also highlighted Gen. Danjuma’s commitment to improving the lives of vulnerable Nigerians through the TY Danjuma Foundation, which has become a lifeline to underserved communities nationwide.

Mutfwang on behalf of his family, the government, and the people of Plateau State wished Gen. Danjuma long life, sound health, renewed strength, and divine wisdom as he continues to offer wise counsel and mentor younger generations.

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CRIME

Enugu Police Arrest 25-Year-old Man over Alleged Kidnapping, Armed Robbery

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From Sylvia Udegbunam, Enugu

Operatives of the Enugu State Police Command attached to the New Haven Division and the Distress Response Squad (DRS), on 6th December 2025 at about 6 a.m., swiftly responded to a distress call and arrested one Orlu Chukwuemeka (male, 25).

Investigations revealed that the suspect and his accomplice, who is currently at large, disguised as commercial operators of an unregistered white mini bus and abducted their female passenger in a one-chance-styled operation at Fourth Dimension, along Chime Avenue, Enugu.

During the incident, the suspects stabbed the victim, pushed her out of the moving vehicle along the same Chime Avenue, and escaped, after robbing her of an Android phone and ATM card.

Police operatives immediately trailed and intercepted them within Independence Layout, Enugu, leading to the arrest of Orlu, while the other suspect fled.

Ina press statement sent by the Police public relations officer Enugu State Command, Daniel Ndukwe stated that the victim was promptly taken to the hospital for medical attention, where she regained stability and was able to positively identify the arrested suspect as part of the criminal gang.

The suspect has since been arraigned in court and remanded in custody, while intensive efforts are ongoing to track down the fleeing accomplice and ensure every person involved is brought to justice.

The Commissioner of Police, Mamman Bitrus Giwa, appreciates the timely support from public-spirited citizens that aided the swift arrest. He reiterates the Command’s unwavering resolve to combating violent crimes across Enugu State this festive season and beyond, urging residents to continue providing credible and timely security information.

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