• Membership
  • Advert Rates
  • Careers
  • About Us
  • Contact Us
  • Digital Store
Thursday, May 22, 2025
The Trumpet Newspaper Nigeria
No Result
View All Result
  • Home
  • News
    • Breaking News
    • Headlines
    • Metro
    • Health
  • Politics
  • Business
    • Ecommerce
    • Economy
    • Start-up
  • Entertainment
  • Sports
  • Opinion
    • Religion
    • Columnists
    • Contributors
    • Editorial
  • Global
    • Climate
    • Culture
    • Tourism
    • Technology
    • Weather
    • Social Media
  • e-Edition
  • Home
  • News
    • Breaking News
    • Headlines
    • Metro
    • Health
  • Politics
  • Business
    • Ecommerce
    • Economy
    • Start-up
  • Entertainment
  • Sports
  • Opinion
    • Religion
    • Columnists
    • Contributors
    • Editorial
  • Global
    • Climate
    • Culture
    • Tourism
    • Technology
    • Weather
    • Social Media
  • e-Edition
No Result
View All Result
The Trumpet Newspaper Nigeria
No Result
View All Result
ADVERTISEMENT
Home Business

Seplat reacts to Buhari’s purported reversal of ExxonMobil deal

Stephen Jombo by Stephen Jombo
January 5, 2025
in Business
Reading Time: 2 mins read
0
Seplat and Exxonmobil
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedinShare on WhatsAppShare on Pinterest

Seplat Energy has responded to reports claiming that President Muhammadu Buhari has withdrawn the ministerial approval of the company’s proposed acquisition of the share capital of Mobil Producing Nigeria Unlimited (MPNU).

In a statement issued by the Chief Financial Officer (CFO), Emeka Onwuka against an earlier statement purportedly signed by the company’s Director of External Affairs and Sustainability, Chioma Nwachuku, Seplat Energy disclosed that it has not received any official notification of such a decision and was seeking clarification from the relevant authorities.

ADVERTISEMENT

“We will continue to work with all parties to achieve a successful outcome to the proposed acquisition and will provide an update in due course,” the statement said.

Onwuka further said the announcement was made pursuant to Rule 17.10 of the Rulebook of the Nigerian Exchange 2015 (Issuer’s Rule), adding: “This announcement has been authorised for publication on behalf of Seplat Energy by the Chief Financial Officer of Seplat Energy Plc, Emeka Onwuka.”

Read Also: How gambling, stealing of billions by management cause bank failure – Bawa

 The Trumpet recalled that President Buhari had on Wednesday, August 10, 2022, reversed his authorisation of the acquisition of the entire share capital of Mobil Producing Nigeria Unlimited by Seplat Energy Offshore Limited, a move that demonstrated the Presidency’s support for the Nigerian National Petroleum Company (NNPC) Limited, which earlier declined the $1.3 billion worth of transaction.

 A statement earlier issued by the Special Adviser to the President on Media and Publicity, Femi Adesina, revealed that the President consented to the acquisition of Exxon Mobil shares by Seplat Energy Offshore Limited.

 According to the Presidency, Buhari authorised the move in his capacity as the Minister of Petroleum Resources to attract Foreign Direct Investment (FDIs) into the country.

 But providing an update on the issue, Senior Special Assistant (SSA) to the President on Media and Publicity, Garba Shehu, affirmed that Buhari had reversed the decision and that the previous misunderstanding was because the “agencies involved in the decision had not coordinated well among themselves.”

 Earlier, Shehu said the President’s reversal of his earlier approval was in line with the position of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

Tags: exxonmobilseplat
Previous Post

AITEO Cup: Kogi United secure walkover victories

Next Post

It is Onyedika or no one else, Maldini, Massara affirm

Stephen Jombo

Stephen Jombo

Next Post
Onyedika - footballer

It is Onyedika or no one else, Maldini, Massara affirm

About The Trumpet

The Trumpet is a Nigerian based national news media, owned, trademarked and operated by Elomaz Communications Limited with headquarters in FCT-Abuja and regional offices in Lagos and Delta States

Follow Us

Resources

  • Home
  • News
    • Breaking News
    • Headlines
    • Metro
    • Health
  • Politics
  • Business
    • Ecommerce
    • Economy
    • Start-up
  • Entertainment
  • Sports
  • Opinion
    • Religion
    • Columnists
    • Contributors
    • Editorial
  • Global
    • Climate
    • Culture
    • Tourism
    • Technology
    • Weather
    • Social Media
  • e-Edition

Recent News

Diddy's trial: Kid Cudi claims Cassie orchestrated their romance

Diddy’s trial: Kid Cudi claims Cassie orchestrated their romance

May 22, 2025
Prosperity Cup living up to expectations - Ono Akpe

Prosperity Cup living up to expectations – Ono Akpe

May 22, 2025
  • Cookie Policy
  • Disclaimer
  • Contact us
  • About Us
  • Cookie Policy
  • Disclaimer
  • Contact us
  • About Us

© 2025 The Trumpet News Papers - Developed by VIS Nigeria.

No Result
View All Result
  • Home
  • News
    • Breaking News
    • Headlines
    • Metro
    • Health
  • Politics
  • Business
    • Ecommerce
    • Economy
    • Start-up
  • Entertainment
  • Sports
  • Opinion
    • Religion
    • Columnists
    • Contributors
    • Editorial
  • Global
    • Climate
    • Culture
    • Tourism
    • Technology
    • Weather
    • Social Media
  • e-Edition

© 2025 The Trumpet News Papers - Developed by VIS Nigeria.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT
Go to mobile version
Verified by MonsterInsights