₦airaland Forum

A Niger Delta anti-pipeline vandalization group has backed the reforms championed by the Nigerian National Petroleum Company Limited to stabilise the country’s oil and gas downstream sector.

The National Coordinator, Anti-Pipeline, Oil Theft & Illegal Bunkering Task Force, Pathfinder Fiawei, made this known in a statement on Tuesday.

According to him, the reforms, which are the initiative of the Downstream at the Nigerian National Petroleum Company Limited, NNPCL, led by Isiyaku Abdullahi, have deeply impacted and galvanised that part of the oil and gas value chain.

He noted that NNPCL’s efforts have spurred competitiveness in the country’s downstream sector as Nigerians experience a gradual drop in the price of Premium Motor Spirit.

“We, the Anti-Pipeline Vandalization/Oil Theft & Illegal Bunkering Taskforce Group, are a critical stakeholder in the oil and gas sector, and we have painstakingly assessed and monitored NNPCL and the Executive Vice President, Downstream, Isiyaku Abdullahi, Downstream, and have seen the convincing impact and penetration of the timely reforms he has initiated, championed, and executed that have drastically changed the narrative in the history of the oil and gas sector in this country,” he said.

This comes amid controversies over the import of Premium Motor Spirit despite Dangote Refinery’s capacity to meet 100 percent of petroleum demand in Nigeria.

At the ongoing Nigeria International Energy Summit in Abuja, the Group Chief Executive Officer of NNPCL, Mele Kyari, assured Nigerians that the state-owned oil firm is committed to ensuring energy security in line with the Petroleum Industry Act.

While NNPC retail stations sell PMS at N965 per litre, Dangote petrol is sold at N945 per litre in MRS filling stations.

PMS is sold between N970 and N1000 at other filling stations across the country.

Prices of food commodities like maize, rice, millet, sorghum, beans, flour and soybeans, among others have dropped, especially in major producing states, a survey by Daily Trust has shown.

This is happening ahead of the Ramadan, which commences in a few days.

Non-producing states are also said to be feeling the impact of the reduction in food prices.

Observation at grain markets in different parts of the country showed that agents of poultry feeds and rice milling companies as well as middlemen have scaled down the purchase of grains across states.

Experts linked the declined market activities by the middlemen to low patronages experienced after Christmas and New Year breaks, leading to significant drop in prices of grains like maize, millet, sorghum, paddy and beans, in addition to massive imports of the commodities.

Others said the recent massive import of some of the agricultural produce also contributed to the drop in price.

Experts linked the declined market activities by the middlemen to low patronages experienced after Christmas and New Year breaks, leading to significant drop in prices of grains like maize, millet, sorghum, paddy and beans, in addition to massive imports of the commodities.

Others said the recent massive import of some of the agricultural produce also contributed to the drop in price.

For instance, a 50kg bag of flour, which was sold for N80, 000 before the importation some few weeks ago, is now between N61, 000 and N63, 000 depending on the market.

The same also applied to locally milled rice, which the import of the produce has also affected.

While prices of grains have dropped, those of groundnut, cocoa, yam, Irish potatoes, palm and vegetable oils remain slightly high in many markets visited by our correspondents.

Kaduna

At the Saminaka grain market in Kaduna State, a 100kg bag of maize, which was sold between N70, 000 and N75, 000 in most markets during harvest, is now N47, 000; while soybeans, sold for N110,000, is now N68,000.

Similarly, the white variety of beans, sold for N150, 000 during harvest, is now N100, 000.

At the Giwa market, also in Kaduna State, millet and sorghum were on Friday sold between N50, 000 and N51,000 as against the N79,000 to N80,000 sold last year before harvest.

The price of soybean dropped from N120,000 to N80,000; white beans, from N160,000 to N88,000; paddy, N75,000 to between N55,000 and N60,000.

Taraba

At the Mutum Biyu grains market in Taraba State, the price of a 100kg bag of paddy rice is now N45,000 as against the N50,000 last month; a 100kg bag of maize, sold previously at N57,000, is now between N40,000 and N45 000; a 100kg bag of dried cassava, previously N25,000, is now N18,000 and N19 000.

Benue

A market survey conducted by our correspondent across Makurdi metropolis, showed a significant drop in prices of essential food items compared to six months ago.

At the Wadata Market in Makurdi, Benue State, a 50kg bag of local rice is now between N26,000 and N29,000 as against between N45,000 and N55,000 it cost about six months ago. At the Modern Market, the price of a mudu of rice has dropped from N2,700 to N1,800, Daily Trust gathered.

Other staples have also seen price reductions as a big basket of tomatoes, previously sold for N45,000, now costs between N30,000 and N35,000. The price of a mudu of maize, millet, and guinea corn has fallen from N3,200 to N1,200; a litre of palm oil, is now N1,800 from N2,500; a rubber of garri, N2,300 from N3,500; 10 tubers of yam, between N10,000 and N15,000 from between N12,000 and N18,000.

Kano

In Kano State, our correspondent also reports a sharp drop in food prices. At Danhassan market, the price of a mudu of beans has dropped to N2,500 from N3,500; millet, N1,200 from N2,700.

At Dawanau Market, Kano, a mudu of maize is now between N1,200 and N1,300; millet, N1,000 and N1,100; beans, between N2,000 and N2,200 per mudu; a tuber of yam, between N2,500 and N4,000 depending on the size.

Niger

At Manigi market in Mashegu Local Government Area of Niger State, the price of a 100kg bag of red beans has dropped to N90,000 from the N200,000 sold last year before harvest; white beans, N90,000 from N160, 000; white and red maize, N40,000 per 100kg bag as against the N85,000 sold before harvest; millet is now N45,000; sorghum, N40,000; a 100kg bag of soybeans, N78,000 as against the N135,000 last year.

At Lemu Market, a bag of millet, maize and sorghum is currently sold at N42,000; and a 100kg bag of rice (milled), N108,000.

In Bida, a trader, Mohammed Mahmud, noted that the price of processed rice had dropped from N130,000 to N120,000 per 100kg bag; paddy rice, from N51,000 to N45,000; a bag of sorghum and millet is now N45,000; maize, N48,000.

At Gwadabe weekend market, our correspondent reports prices of rice, maize and sorghum have also dropped.

Lagos

At Alaba Rago market, Ojo, a bag of rice which used to be sold for between N80,000 and N90,000, now sells for N65,000 and N70,000; while the price of a paint rubber of beans has dropped from N12,000 to N6500.

At Daleko market, Mushin, a 50kg bag of rice is now between N70,000 and N75,000; a paint rubber of honey beans, N8,500.

Traders cite naira gain, importation, others

Anas Usman, a businessman at Dawanau market in Kano, linked the price drop to importation of foodstuffs, massive release from warehouses and large scale farming conducted by farmers across the country.

He said: “People have released foodstuff to the market from warehouses and at the same time there was large scale importation from other countries.”

Other traders attribute the reduction in food prices to the zero-duty grains policy of the federal government.

The government had, in July 2024, approved the regulation for the implementation of a Zero Per cent Duty Rate and Value Added Tax (VAT) exemption on selected basic food items.

Some traders also cited the increase in the quantities of rice that comes in through the Seme and Idi-Iroko borders in Lagos and Ogun states.

One of the traders at Daleko market, Sade Baloguj, said she got her supply directly from Cotonou, Benin Republic.

She attributed the reduction in the price of rice to the rise in the value of naira as against the CFA.

She stated that the naira rose by about N65 within a space of one week.

“The price of rice may come down further if the naira appreciates against the CFA in the weeks and months to come,” she added.

An importer, Alhaji Olukolu Tunde Khallil, Chief Executive Officer (CEO) of Khallil Associate Nig Ltd., attributed the drop in prices of some food items to the “improved” security, especially in the North.

Farmers lament

Daily Trust reports that some farmers are expressing frustration over the development, saying the government had misplaced its priorities.

One of them said he harvested about 6,000 bags of 100kg but could not sell because of the low price compared to the high cost of inputs like fertilizer, which is needed for the next cycle of cultivation.

Another farmer, Abubakar Ismail, said government should subsidize farm implements so that in turn, farmers would also reduce the prices.

“Importation is just a temporary measure, it is not sustainable. Only God know how much the government spent to subsidize importers.

“We must face the reality by ensuring that we secure our farmlands, provide fertiliser and seedlings on time and also support farmers with basic tools. Nigeria is too big to survive on imports,” he said.

Abdullahi Musa, another farmer alleged that Nigerian borders were deliberately left opened for smugglers to import rice, beans, maize, among others in order the crash the prices.

“Some of us are now counting our losses…It is sad,” he said.

‘Inflation rate drop stabilising food prices’

The secretary of the National Agricultural Commodities Project (NACP), Abuja, Dr Austin Maduka, said the purported drop in the inflation rate was helping to stabilise food prices.

Alhaji Rabiu Gambo, a grain merchant in Jalingo, Taraba State, told Daily Trust that since the federal government announced its decision to grant import waiver last year for rice and maize, big companies and businesses that usually made bulk purchases of maize and paddy had reduced their purchases.

A dealer at Mutum-Biyu grain market, Taraba State, Musa Adamu, said since the announcement of three months import window for rice and maize, the market had slowed down.

He said at the beginning of harvest, the market was full with activities and prices went up, but soon after the announcement by the federal government, prices started coming down.

Consumers rejoice

Consumers, especially Muslims preparing for Ramadan fast, have welcomed the reduction in the prices of food items.

Hajiya Memuna Ahmadu, a civil servant in Abuja, said even though the reduction was not much in the nation’s capital, the drop in the prices of rice, millets, tomatoes, onions and sorghum would go a long way to help Nigerians struggling with the current economic reality.

“Last Tuesday, I went to Karmo market and I bought millet, sorghum, maize, beans and rice ahead of the holy month of Ramadan. I actually bought them at slightly reduced prices compared to what we bought last three weeks,’’ she said.

Mr Yusuf Jimoh, a civil servant, said he was waiting for February salary to make bulk purchases of the produce in view of the drop in the prices.

Food importation not a good devt – Farmers

The All Farmers Association of Nigeria (AFAN) said the importation of food items is not a good development for the nation’s agriculture.

Chief Daniel Okafor, Vice National President of AFAN, in a chat with DailyTrust, alleged that nothing was done to protect farmers before allowing grains’ importation.

“Farmers are not happy. Let me let you know that we are not there. It will discourage local production,” he stated.

AmazingGenius:
Tinubu was never my friend, we weren’t close – El-rufai speaks on APC primary election.

Former governor of Kaduna State, Nasir El-rufai has said he wasn’t a close associate of President Bola Tinubu.

El-rufai, who spoke in an interview with Arise TV on Monday, stated that during the 2022 presidential primary election of the All Progressives Congress, APC, he was indifferent on the choice of candidate.

According to him, his only concern was for a Southerner to emerge as the party’s flagbearer, stressing that whoever the South presented didn’t matter.

He said, “I was indifferent on who became the presidential candidate of APC.

“The only thing I was determined to do was to stop a Northerner from becoming the candidate of the party based on what I know.

“When we formed the party in 2013, we agreed that after Buhari’s 8 years, power will go to the South.

“Tinubu was never my friend, we weren’t close”.

Source: https://gistafri.com/2025/02/25/tinubu-was-never-my-friend-we-werent-close-el-rufai-speaks-on-apc-primary-election/

Dangote Peugeot Automobile Nigeria (DPAN) has ramped up its production capacity to 44,000 vehicles annually, thanks to the integration of advanced technology in its assembly processes. Leveraging cutting-edge systems, the plant now produces up to 120 vehicles daily, boosting local manufacturing and reducing Nigeria’s reliance on imported cars.

Popular Peugeot models such as the Landtrek pickup, 3008, 5008, and 508 GT are now being locally produced, reducing Nigeria’s dependency on imported vehicles while offering high-quality, competitively priced options.

Speaking during the 46th Kaduna International Trade Fair, Fatima Wali Abdurrahman, Senior Advisor to the President of Dangote Group, revealed that the company’s ongoing digitization efforts have revolutionized its operations, particularly in the cement sector.

“By assembling globally renowned Peugeot models, DPAN is helping to foster trade, promote local manufacturing, and drive Nigeria’s journey towards industrial self-sufficiency,” Abdurrahman said.

Themed “Promoting Efficiency in Manufacturing, Trade, and Agriculture through Digital Transformation”, this year’s Kaduna Trade Fair provided a platform for Dangote Group to showcase its extensive adoption of cutting-edge technologies.

Abdurrahman highlighted the conglomerate’s sustained digitization efforts, noting that the introduction of smart and automated systems has revolutionized operations across Dangote’s industries.

“We have since digitized our manufacturing and sales processes, particularly in our cement plants, where tasks that once took days now take minutes.

“This integration of advanced technology spans all our sectors—cement, sugar, salt, fertilizer, petrochemicals, agriculture, and now automobiles—positioning us as leaders in every industry we operate”, she said.

Abdurrahman also pointed to the company’s digital ordering platform, the DMS Application, which has enhanced customer experience.

“The DMS App, available on Android and iOS, allows our registered customers in the cement, sugar, and salt sectors to access our products anytime, anywhere,” she added, highlighting Dangote’s customer-centric approach.

The Dangote Group’s influence on Nigeria’s economy was widely acknowledged at the trade fair.

Ishaya Idi, President of the Kaduna Chamber of Commerce, Industry, Mines, and Agriculture (KADCCIMA), praised the company’s role in job creation and economic growth.

“The 46th Kaduna Trade Fair has strengthened the partnership between KADCCIMA and Dangote Group, a company that continues to be a driving force in Nigeria’s industrial landscape,” Idi noted.

The Federal Government also commended Dangote Group for its contributions to national development.

Representing President Bola Tinubu and the Minister of Industry, Trade, and Investment, Jumoke Oduwole, Acting Permanent Secretary Dr. Dafang Sale lauded the company’s investments.

“Dangote Group’s commitment to innovation and industrialization is critical to Nigeria’s economic growth. We appreciate the remarkable work they are doing,” Sale said.

Usman Saulawa, Director General of KADCCIMA, further emphasized Dangote’s impact on both local and global economies.

“The Dangote Group has made a significant contribution to Kaduna State’s business community and continues to play a vital role in Nigeria’s broader economic development,” Saulawa stated, noted that the unique collaboration between the Kaduna State Government, Dangote Group, and other stakeholders as a highlight of the fair.

We all know that after a couple of years phones mysteriously seem to last for shorter and shorter periods between charging. Katie Rosseinsky speaks to a tech expert to figure out all the secrets to making your phone battery stay as long lasting as possible.

Charging your phone is a mundane fixture of modern life. Most of us probably plug in our devices just after we’ve brushed our teeth at night, filling them up to 100 per cent, readying them for another day of social-media scrolling and app-based procrastination. It’s part of our routine, something we don’t really think about – until it becomes a problem, that is.

There tends to come a point in your phone’s lifespan when it starts greedily eating up its charge with an insatiable appetite. Once you could get through the working day without dropping into the red zone, battery-wise, but now you’re constantly scoping out potential charging points so you can top up on the go.

As someone who has never been fussed about gadgets, I clung on to the last phone I owned for around four and a half years. By the end, I couldn’t leave the house without a chaotic array of power banks, wires and adaptors. The most frustrating part? Woeful battery life aside, this ancient artefact was actually functioning pretty well (although, I will admit, the photos it took were rudimentary at best).

I’d like to hold on to my current phone for as long as possible, and I’m guessing that, in a cost of living crisis, you might well do, too. So is there any way that we can stop this annoying process of decline from playing out again (or at least slow it down a bit)? In order to answer that, we need to look closer at our charging routine – and ask whether we might inadvertently be hastening the demise of our own devices.

First up, a quick science refresher. Your mobile phone uses a lithium-ion battery; so does your laptop, tablet and electric toothbrush. Swapped to a rechargeable vape recently? That will run off a lithium-ion battery too. Drive an electric vehicle? There’s a high chance your car uses the same technology. Are you, for some unfathomable reason, the proud owner of a hoverboard? You can probably guess by now exactly what powers your weird device.

Lithium-ion technology emerged in the Seventies and started to become an integral part of portable tech (think handheld camcorders – remember them?) in the Nineties, thanks to their high energy density. Essentially, they can pack a large amount of energy into a small space, charge quickly and last longer than other battery types.

So how do they actually work? Essentially, a battery makes electricity from a chemical reaction; when you charge it, you use electricity to reverse that reaction. Each comprises three essential parts. There’s two electrodes: the anode (in a lithium-ion battery, this is typically made from graphite) and the cathode (made from lithium cobalt oxide). There’s also an electrolyte, a conductive medium. When your phone is being used, lithium ions move from the anode to the cathode, through the electrolyte. The process flips around when it’s on charge. “By shuttling lithium ions back and forth between the battery electrodes, the battery can store and release electrical energy,”explains Sandeep Unnikrishnan, chief technology officer at battery tech start-up Lionvolt.

But although lithium-ion technology might trounce other battery types when it comes to long life, that doesn’t mean it is infallible. Far from it. Your phone’s battery life certainly does get worse as the years go on, “due to internal electrochemical wear and tear”, Unnikrishnan says. The chemical reactions that power these batteries also cause them to slowly degrade over time – essentially, they’re on the decline from the very first time you use them (don’t think about this too deeply if you’re already prone to existential crises). Typically, they last around 500 charge cycles, or between two to three years, before their capacity takes a nosedive.

Of course, many phone contracts tend to lock customers in for two years, meaning that plenty of customers will simply ditch their old handset for an upgrade at this point. Therefore, it’s not exactly in the manufacturers’ interests to make it easy to replace your battery and keep your old device. “Once upon a time, you could easily do this replacement yourself, [but] now it’s designed to be difficult so that you can’t,” explains James Bore, director of Bores tech and security consultancy.

In 2023, however, the European Union introduced a new rule. From 2027, it will require manufacturers to ensure that customers can “easily remove and replace” batteries in smartphones, tablets and other electronics, without any specialist skills or tools. It’s a callback to those halcyon days when the chunky battery of your Nokia 3310 used to slide in and out with ease. The idea is that fewer devices will end up being chucked in landfill as a result – and the regulation will mean that phone companies will have to seriously rethink the design of any products they’re selling in the EU.

Before that, though, what can we do to eke out our battery life for as long as possible? The first thing you need to do is to stop obsessing over filling up your phone to full capacity. Many of us will feel the urge to keep it topped up to 100 per cent whenever possible. I’m certainly guilty of leaving mine plugged in when it’s long been all charged up, just in case. But although this “more is better” approach might alleviate our short term worries about our devices giving up while we’re out and about, it’s not the best for the battery in the long term.

That’s because “lithium-ion batteries experience increased stress when [they are] maintained at full charge for prolonged periods”, Unnikrishnan says. Keeping it at the 100 per cent mark just places it under extra, unnecessary strain that will hasten its downfall. Instead, “maintaining the battery charge between 20 per cent and 80 per cent is more beneficial for battery cycle life”. For this reason, Unnikrishnan recommends plugging in your phone during the day rather than overnight, as “you can monitor its charge level and unplug it before it reaches full capacity”. Think Goldilocks – not too empty, not too full, just right. Congratulations if you have the mental resilience to keep your charge on the lower end of that spectrum. The mere thought is making me anxious.

[b]Most new phones now have built-in battery management systems to help you out. If you head to the “battery charging and health” section of your iPhone, for example, you’ll see the option to switch on “optimised battery charging”. The phone takes your daily usage and charging routine into account in order to work out when it actually needs to go above 80 per cent capacity. Android models, meanwhile, have a similar “adaptive charging” feature. Plus, many handsets have their own battery health indicator, which estimates “the phone battery’s present energy capacity”, based on “the number of cycles [it has been through], the temperature profile, [and] the voltage of charge and discharge”, Unnikrishnan says.

Temperature also plays “a crucial role”, he points out, as heat and extreme cold “can lead to electrode degradation, particularly affecting the cathode, and causing “severe” reactions at the shared boundary between the electrode and the electrolyte. For this reason, he advises against using your device while it’s charging – a habit I indulge in on a nightly basis – “as this generates excessive heat and promotes chemical degradation”. Similarly, placing your phone under a pillow or a blanket isn’t a great idea, because this will further warm it up (plus, there’s a fire risk).[/b]

And while it might be tempting to opt for one of the many super-fast chargers that are on the market, in the interests of expediency, this could be a false economy. “While fast charging offers convenience, frequent use can be detrimental,” Unnikrishnan says. In fact, you really are best off sticking with the chargers recommended by your phone’s manufacturer, even if they’re pricier than off-brand options. “Very cheap non-standard chargers should be avoided,” Unnikrishnan recommends, “as they may deliver unstable current or voltage and pose an overheating risk.”

Essentially, if you’re serious about keeping your phone battery thriving for as long as possible, you might have to ditch (or at least curtail) some of your bad tech habits. The other, glaringly obvious, option is to simply try and spend less time staring at our tiny screens, but where’s the fun in that?

AmazingGenius:
Last week, Lagos State Government signed a Memorandum of Understanding (MoU) with Summa Group, an international construction company, for the development and construction of Lekki-Epe International Airport.

Governor Babajide Sanwo-Olu announced the agreement via a post on X, describing it as a major step toward improving connectivity, fostering economic growth, and attracting global investment to Lagos.

The MoU was signed with the Summa Group to develop and construct the much-awaited Lekki-Epe International Airport.

Sanwo-Olu said the ground-breaking initiative is an essential part of Lagos State’s vision to improve connectivity, stimulate economic growth, and draw in global investments.

Summa Group was established in 1989 by Mete Bora in Ankara after the construction of Atakule Tower, which immediately became the city’s landmark.

In 1990, Summa completed its first international project in Gara Altin Presidential Guest House in Ashgabat Turkmenistan. In 1994, the company expanded into Russia.

Since then till date, the company has expanded into several countries, constructing projects in various sectors such as aviation, hotels, offices, residential, conventions, education, shopping malls, government buildings, marine, sports and healthcare, among others.

Headquartered in Moscow, Summa Group owns assets in the oil and gas, telecommunications, engineering, construction, and port logistics sectors.

Its subsidiaries include: Summa Telecom, Yakutsk Fuel and energy company.

Summa Group’s financial services arm offers wealth management services, including asset management and estate planning.

The group is part of Oppenheimer & Co. Inc.

Barron’s and Forbes ranks the group as one of the top financial advisors in the United States.

A professor of competitive strategy, who has some knowledge about the company but would not want his name mentioned, said: “I have now seen that Summa International Construction Group was founded in 1989, and expanded into Russia in 1994.

“The other ‘Summa Group’ was founded by a Russian oligarch in 1993 but was called Summa Capital till 2011 but is now defunct apparently,” the professor said.

The professor explained that the current chair of Turkish Summa is the son of the founder, who joined the family business in 1993. He is in charge of business development in the Russian neighbourhood (Turkmenistan & Kyrgyzstan) and was promoted the regional manager of Summa for Russia based in Moscow in 1995 before becoming group chairman in 1999.

“So their corporate history seems to have had quite a few Russian linkages in the 1990s, and the dates interestingly seem to overlap the Russian Summa, but to be fair, big business in UK & US also had heavy Russian exposure in the 90s, and many of them had to go through oligarchs as well,” he added.

However, among the group of companies under Summa, Summa International Construction Company is the subsidiary that would be helping Lagos to build the proposed Lekki International Airport.

The construction company specialises in the design and execution of projects. The company has its operations in 14 countries across four continents.

Summa Construction has completed several projects across diverse geographies and under challenging conditions in many countries, including Russia, Turkmenistan, Romania, Moldova, Libya, Equatorial Guinea, Venezuela, Senegal, Rwanda, Republic of the Congo, Niger and Turkey. Summa has become one of the leading contractors worldwide and is rated as one of the top 225 international contractors listed by ENR since 2004.

Aviation projects developed by Summa Construction have been majorly across Africa and they include Osvaldo Vieira International Airport, Guinea-Bissau; Freetown International Airport, Sierra Leone; Diffa airport, Niger; Diori Hamani International Airport, Niger; Blaise Diagne International Airport, Senegal; International Airport Magas, Russia; and Chisinau International Airport Terminal Building, Moldova.

The company also designed the new international terminal building for Vnukovo Airport, Moscow.

Source: https://businessday.ng/news/article/what-to-know-about-summa-group-tapped-to-build-lekki-airport/

fergie001:
I didn't see any.

The Presidential candidate of the Peoples Democratic Party in the 2023 general election, Alhaji Atiku Abubakar, has strongly condemned the presence of the Department of State Services operatives at the Lagos State House of Assembly on Monday.

In a statement posted on his X page, Atiku described the security deployment as “utterly reprehensible” and insisted that such actions must not be tolerated in a democracy.

“The viral video of armed security operatives invading the Lagos State House of Assembly is utterly reprehensible and stands condemned,” he wrote.

Atiku called for a full investigation into the matter, raising concerns over reports that the operatives were allegedly enforcing a leadership change within the Assembly.

“It must be subjected to a full and thorough investigation. It is bewildering that the invading operatives reportedly have a mandate to enforce a leadership change in the House,” he stated.

He further criticised those he accused of undermining democracy, despite previously positioning themselves as pro-democracy advocates.

“It is appalling that it is those who claimed to have fought for democracy that decided to sanction this crass desecration of the state’s foremost legislative body, and by so doing, putting our hard-earned democracy in jeopardy,” Atiku said.

Describing the incident as a direct assault on Nigeria’s democratic values, Atiku warned that it posed a serious threat to the electoral process and governance.

“This act is an attack on the sanctity of democracy and a landmark of indignity to the Nigerian electorate, especially the people of Lagos,” he said.

While acknowledging that leadership disputes are common in democratic systems, Atiku condemned the involvement of armed operatives in resolving internal parliamentary conflicts.

“Whatever may have caused the leadership crisis in the Lagos State House of Assembly is an undercurrent that is not abnormal in a system of democracy,” he noted.

“The purported invitation of armed security operatives for a conflict resolution in a parliament is an anathema that should be frowned upon and interrogated with all sense of urgency.”

The former Vice President also took a swipe at President Bola Tinubu, accusing him of meddling in state affairs instead of addressing pressing national issues.

“Tinubu should focus on bringing Nigeria out of the mess he plunged the country into rather than interfering in the state matters,” Atiku said.

The DSS, however, has insisted that its deployment was based on an official request from the Assembly, citing security threats.

Aliko Dangote, Africa’s wealthiest individual, has reflected on the immense risk he undertook in building the Dangote Refinery, a project that has not only redefined his fortune but also reshaped Africa’s energy landscape.

The 67-year-old billionaire described the refinery venture as “the biggest risk of my life,” revealing that the final investment exceeded $20 billion, more than double the original budget.

In an exclusive interview with Forbes, Dangote shared the complexities behind the massive undertaking. Initially, the refinery’s projected cost was $10 billion, but the price escalated as Dangote insisted on expanding its scope beyond the original plans.

“If this didn’t work, I was dead,” he admitted to Forbes, acknowledging the enormity of the gamble he took when he first announced the refinery in 2013.

Dangote initially planned to build the facility in southwest Nigeria but faced delays due to disputes with local officials. In a dramatic pivot, he relocated the project to the Lekki Free Zone, just outside Lagos, paying $100 million to secure the land. The move, however, came with its own set of obstacles, as the swampy terrain required dredging 65 million cubic meters of sand and constructing a port to facilitate transport.

Despite these setbacks, the Dangote Refinery began operations in 2024. Situated on a 6,200-acre site, the refinery initially processed 350,000 barrels of crude per day (b/d), reaching 500,000 b/d by January.

With full capacity slated for next month, the refinery will process a staggering 650,000 b/d, positioning it as the seventh-largest refinery globally by production and the largest in Africa. Adjacent to the refinery is a petrochemical complex that produces 3 million metric tons of urea annually, making Dangote the continent’s largest fertilizer producer.

How Dangote raised funds for his refinery project

The financing of the refinery was no less ambitious. To fund the project, Dangote secured $5.5 billion in bank loans and divested stakes in his cement business, raising $600 million from investors including Dubai’s investment corporation and an Australian sovereign wealth fund.

Additionally, his holding company, which oversees Dangote’s cement, flour, and sugar businesses, provided a $10 billion intercompany loan to cover the project’s rising costs. The total bill for the refinery ultimately reached nearly $23 billion, significantly surpassing the initial estimates.

However, the refinery still faces financial challenges. With $3 billion in outstanding debt, the project’s liquidity came under scrutiny, leading to a downgrade from Fitch in August.

This was attributed to the under-utilization of the refinery in its early months and the severe depreciation of Nigeria’s Naira, which has lost over 70% of its value since the currency was floated in June 2023.

Despite these hurdles, Dangote remains confident in the refinery’s financial stability, citing its dollar-based revenue model from foreign clients as a buffer against the Naira’s volatility.

Looking ahead, Dangote has plans to build a subsea pipeline to transport natural gas from the Niger Delta to Lagos and to expand production at the refinery’s fertilizer plant.

Furthermore, Dangote is eyeing a public listing for the refinery within the next few years, signaling his long-term vision for the project’s success.

fergie001:
I know why you are angry with Adeleke, and nobody can blame you oooo, it's politics

But they won't unless they are ready to govern themselves.

dominique:
He's your best friend buuuttttttt are you his best friend?

French President, Emmanuel Macron has reportedly scheduled an “emergency meeting” for European leaders to discuss United States President Donald Trump.

Fox News, citing Politico, reports that Polish Foreign Minister Radosław Sikorski on Saturday made an allusion to the meeting at the Munich Security Conference.

According to the report, two EU officials told the Politico that the meeting would take place on Monday.

“I’m very glad that President Macron has called our leaders to Paris,” Sikorski was quoted as saying, noting that the event would involve talking about the implications of Trump’s actions “in a very serious fashion.”

Sikorski has not shied away from discussing US politics in the past.

He previously compared President Joe Biden’s poor debate performance to the decline of ancient Rome, while at other time said Trump was right to say that NATO countries need to spend more on their own defense.

The report further noted that Macron has been cordial to Trump since the latter’s reelection in November last year.

The French leader had, in a post on X, expressed a willingness to work with Trump.

“Congratulations, President @realDonaldTrump,” Macron’s post read. “Ready to work together as we did for four years. With your convictions and mine. With respect and ambition. For more peace and prosperity.”

Macron said it was “an honor” to host Trump in December, when he visited Paris to witness the reopening of the Notre Dame Cathedral.

AmazingGenius:
FBN Holdings Plc has been renamed First HoldCo Plc (FirstHoldCo) as part of plans to create a uniform identity across all its subsidiaries.

The leading Nigerian financial company announced the change in its name in a statement released on Tuesday, February 11, 2025.

The rebranding was intended to highlight FirstHoldCo’s commitment to innovation, customer focus, and operational excellence.

Part of the statement from the banking firm read:

"FirstBank, FirstHoldCo Plc will retain First Bank Nigeria Limited as its flagship brand while adopting new, unified names for its other subsidiaries in Asset Management, Capital Markets, Securities, Trusteeship, and Insurance Brokerage."

The statement also confirmed that this change would be effected across the group once the relevant regulatory approval had been given.

Legit.ng previously reported that at the 12th AGM of the holding company in November 2024, First Bank shareholders approved a change in the legal and brand names from First Bank Holdings to FirstHoldCo Plc and FirstHoldCo, respectively.

Details about First Bank's name change

First Bank described the transformation and rebranding as a pivotal milestone in its journey to redefine its identity, unify its subsidiaries, honour its heritage, and solidify its leadership in the financial services industry.

Group managing director Wale Oyedeji said the transition was significant for the company and marked a strategic shift towards future growth and innovation, as reported by Punch.

“The transition to FirstHoldCo Plc marks a defining moment in our history as we embark on a bold path toward the future."

He added that the rebranding was not just a name change but also described this process as a 'reaffirmation of our purpose, vision, and commitment to providing world-class financial solutions to our stakeholders'.

Oyedeji said the rebranding would unify the company’s identity across subsidiaries and regions, reinforcing its leadership position in Africa while maintaining a global presence.

"It strengthens our dedication to creating lasting value while preserving the trust and confidence that have shaped our relationships for over a century."

The GMD highlighted that within Nigeria, FirstHoldCo’s unified brand structure would strengthen operational synergies, enhance clarity in service offerings, and improve the delivery of tailored solutions for businesses and individuals nationwide.

“Internationally, it strengthens the Group’s position as a formidable organisation, enabling us to capitalise on global market opportunities while reinforcing our role as a trusted partner in financial services.”

ThisDay reported that the GMD said the rebranding aligned with the company’s strategic vision of staying ahead of industry trends through innovation and a customer-centric approach.

“We are not just redefining a brand; we are shaping a legacy that seamlessly blends heritage with progress, tradition with transformation, and local impact with global reach."

Rebranding is First Bank's mind game tactic amidst fraud scandal - Analyst First Bank's rebranding effort, which saw the bank's holding company, FBN Holdings Plc, renamed First HoldCo Plc, is expected to have a positive impact on its relationships with customers, investors, and partners, according to financial analyst, Ishaya Ibrahim.

In an interview with Legit.ng, Ibrahim noted that the rebranding is a plot to reassure customers and investors, amidst its reputational issues.

As he put it:

"First Bank is currently dealing with reputational issues following fraud cases to the tune of over N6 billion against some of its former top executives. The rebranding appears to be an effort to reassure customers and investors that things are going well."

Ibrahim described the rebranding as:

"A powerful mind game designed to show that the brand is still very strong despite those financial misdeeds."

He expressed optimism that the rebranding would help to boost customer confidence and reassure investors. When asked about potential challenges during the rebranding process, Ibrahim downplayed the likelihood of any significant hurdles.

The analyst added:

"Although the name has to be approved by the shareholders, I don't see any challenges from realising that. This is a bank that has been in business for 129 years. It has earned the magic wand to make anything successful.”

SME owner hails First Bank's secure platform amid rebranding The rebranding of First Bank to First HoldCo Plc has elicited reaction from Small Medium Enterprise (SME) owner, Eroh Mavis.

In a chat with Legit.ng, she noted that change is a welcome development.

Mavis, who is also a customer service specialist, expressed her confidence in the bank's ability to continue delivering top-notch services saying:

"First Bank's reliable and efficient services have transformed my business transactions, enabling seamless customer experiences. I have absolute confidence in their secure platform, knowing my funds are protected.”


Source: https://www.mynigeria.com/NigeriaHomePage/business/First-Bank-announces-new-name-shareholders-approve-new-identity-745170

Gbeleyi stated this while interfacing with the House of Representatives Committee on Public Assets in Abuja.

“A company worth $700m was sold for just $30m,” he said, noting that under the Federal Government’s privatisation policy, “80 per cent of Delta Steel Company in Aladja, Delta State, was sold to Global Infrastructure Nigeria Ltd in 2005, while the government retained a 20 per cent stake.”

He explained that residential buildings and land owned by the company were used to settle workers and pensioners.

After privatisation, the company reportedly used Delta Steel Company’s assets as collateral for a loan from Ecobank.

The BPE DG further revealed that due to non-performance, the Asset Management Corporation of Nigeria acquired the assets in 2015 and sold them to Premium Steel and Mines Ltd.

He accused AMCON of failing to seek clarification from BPE before selling the assets, stressing that while BPE was aware of the loan from Ecobank, it had no knowledge of three other banks listed by AMCON as creditors.

The petitioners, including the Association of Concerned Residents of Camp 2, 4 and 5 of Delta Steel Company, Aladja, Warri, before the involvement of AMCON and Premium Steel and Mines in DSC assets, had been staying in the estate and plots of land which were used to settle them in line with contractual agreement.

The petitioners claimed that they have been under constant intimidation and harassment by police and Army personnel since 2015, claiming to be acting on the instructions from AMCON and Premium Steel and Mines to vacate the estates.

Speaking on behalf of the petitioners, Dr David Emomotimi and Richardson Osifor, said the assets AMCON acquired were assets used as collateral by Global Infrastructure Nigeria Ltd to obtain a loan from Ecobank which did not in any way include the residential buildings.

Osifor said from the contract agreement and information at the Corporate Affairs Commission, the loan Global Infrastructure Nigeria Ltd obtained from Ecobank was N250m but AMCOM jacked it up to N7bn.

In their submission, the representatives of AMCON, Chukwuemeka Umunakwu (AMCON legal unit), said AMCON acquired the assets of DSC used as collateral to obtain loans from four banks to prevent them from collapsing.

He said AMCON acquired the assets at N22bn but sold it to Premium Steel and Mines at N32bn.

Responding to the inquiry by the committee whether the Office of the Accountant General of the Federation has the receipt of payments by both BPE and AMCON in respect of sales of Delta Steel Company’s assets, the representative of AGF, Kabiru Ademola (Director, Finance) acknowledged receipt of N3bn in favour of BPE in respect of sales of 80 per cent of DSC assets to Global Infrastructure Nigeria Ltd.

He stated that the AGF is yet to get any response from Central Bank of Nigeria regarding claim of payment of N32bn by AMCON in respect of DSC assets to Premium Steel and Mines Ltd.

According to him, though AMCON claimed the money was paid to the Federation Account (TSA), the agency was unable to provide proof of payment to the committee.

In his submission, Managing Director/CEO of the Ministry of Finance Incorporated, Dr. Armstrong Takang, said though MOFI oversees the management of assets and investments in the country, the agency withdrawn from the issue of Delta Steel Company as a result of many controversies.

He said, “If our forefathers who were less exposed and less educated would build such infrastructure and maintaining it by our contemporary leaders LovePeddler are more exposed and educated than them will be a problem, I wonder what will be the future of the country.”

Chairman of the Committee, Ademorin Kuye (APC, Lagos), said the committee whose mandate includes oversight over the use, management and disposal of all Federal Government assets within and outside the country decided to probe the purported sales of the Delta Steel Company and the controversies surrounding its acquisition by AMCON.

The committee directed AMCON and Premium Steel and Mines to desist from harassing the residents of the estate in Delta Steel Company untill the investigation is concluded.

puskin:
Foreigners, Europeans, whites just like living simple crazy and their best lives

FOD:
What a disastrous fourth quarter!

dominique:
3-0! Marmoush hat trick on his first match!
Na this Egyptian boy go bench Harlaand laslas

FG To Take Over Salaries Of 28,000 Health Workers Affected By USAID Freeze – Health Minister, Pate.
[/b]

The freeze in billions of dollars in global funding for the United States’ health and education projects in countries of the world including Nigeria continues to dominate global discussions. There have been palpable fears on the continental scene that the decision of the Donald Trump presidency to halt the United States Agency for International Development (USAID) will reverse the compounded gains achieved in the global fight and campaign against diseases and infections such as malaria, tuberculosis, Human Immunodeficiency Virus (HIV) and its advanced stage, the Acquired Immuno-deficiency Syndrome (AIDS). On Channels Television’s Hard Copy programme, Prof Ali Pate, Nigeria’s Coordinating Minister of Health and Social Welfare, speaks on Nigeria’s preparedness to manage the impact of America’s aid cut on interventions in the health sector. He also speaks on the fate of 28,000 Nigerian health workers previously paid by the aborted American programme.

What would you say the primary challenge has been with Nigeria’s health sector?

The fundamental issue is that we have not invested seriously in our health infrastructure, in our health human resources, and equipment. We have not come together as a nation to build a National Health System. The Federal Government had its parts, states had their part, and local governments too. Some pulled more than others. The government’s revenue, as a portion of our GDP, has been very low.

So, of the little that the government collects, it had prioritised health lower, education lower, but this president, in his Renewed Hope Agenda, had put human capital as a core and we have seen a deliberate effort to invest more in health and service delivery. We have begun to see the impact of those slowly happening but it will take time for a system that has spent years without the required infrastructure, equipment and human resources to supply chain consumables.

It’s a system and that system will take time to get to the point where people will see a much larger transformation which is possible. When folks think about the UK or the US Healthcare System where many of our compatriots go. Those systems spend a large chunk of their resources for health. The UK spends more than $4,000 per capita in health. Here, we’re talking about $120 per capita, total, of which public financing is about 30% of that. So, you can look at the disparity. The United States, for instance, about $4,000 per capita. Healthcare is not cheap. Quality healthcare is not cheap. You have to invest in it. We as a country had not invested in it and yet we had been asking for the highest quality health. The few elite afford it, they go out but domestically we have not invested.

Now, we have seen that change in the last 18 months with a deliberate effort to improve the investments and to allocate the Investments where it matters — the foundation, the primary healthcare, the higher-level health infrastructure, the cancer infrastructure that we’re rebuilding, the teaching hospitals, the equipment, the human resources, the expansion of the training, the regulatory oversight, the harmony in the sector and the production of the commodities that we need to deliver, whether it’s antibiotic. Can you believe that more than 70% of our drugs, we import with foreign exchange that we didn’t have? So, if we can flip it over time. 99% of our medical devices, we import them.

Now, if we flip that over time, that is not going to take place overnight but we have to be on that path. What we’re trying to do is to change a trajectory and we’re beginning to do that. First, it requires political will and we have seen it. The president unveiled the Renewal Investment Initiative and we saw 36 state governors join the Federal Government and sign a contract.

We’ve seen deliberate efforts to mobilise resources to invest in health. Just last week, the Federal Executive Council approved almost a billion dollars in terms of financing for the programme. That is a significant resource that states will implement. It’s a programme for results that will deliver better but it will take time. We can have the health system that we desire.

Complaining on the sidelines and thinking that things will not change or things are so bad is not going to get us there. We are acting in that direction and I believe many leaders are keying into that because all the 36 state governors have now expressed interest to join the Federal Government in this journey. Our private sector actors, the hospitals, the providers, and the pharmaceutical industry should also rise up. This will make our healthcare system serve Nigerians and potentially even serve other parts of our continent.

Our total health spend in Nigeria, the total health exposure: 30% is public, 70% is private. So, the component of overseas development assistance for health is not the largest chunk of our health expenditure.

How significant is overseas assistance?

those health workers are Nigerians. We have to find ways to transit them.

Our approach, long before the change in US policy has been towards increasing national ownership, increasing domestic resources, improving our healthcare value chain and producing what we use, strengthening our resilience through surveillance, laboratory systems so that we deal with infectious diseases. We never really absorbed ourselves of the responsibility for taking care of Nigerians who require government support. Health is right and it has a value inherently and is key to the future prosperity of our country.

So, the pivot that the US government has met in a way found us where we had already been moving in that direction and it’s just about raising the additional resources to be able to cope and we are confident that Nigeria can be able to cope. It may not be able to buy the most expensive versions of the medications that the US dollars buy but with the resources that we have I believe that we can find those who have those medications, generic as they may be, but with the quality that is needed that we buy and distribute to our population and we want to safeguard the progress that has been made on HIV.

The electricity situation, for instance in the University College Hospital, Ibadan, has remained intractable. It’s over 100 days now and we’re still counting. This is a well-known hospital in darkness.

This has been a story for several years of accumulated debt to the Ibadan Disco. The hospital was disconnected and we stepped in to help the hospital The chief medical director, over the last three months, has done an incredibly good job of transiting to off-grid power, solarise many of the wards, theatres and others. He developed a mechanism whereby there are hours when the hospital uses diesel for theatres to operate so it’s not as if the hospital wasn’t functioning; it was functioning within certain bounds and using off-grid resources to power the hospital. I can show you the pictures of UCH at night three days ago with light; it’s not as if they are in darkness.

The UCH power was connected to the University of Ibadan and there are private entities within the university so the University College Hospital was paying for a bill of what it consumes as well as others including residences that are within that perimeter. So, disentangling that is necessary. How can the hospital bear the burden including residences of those who are not necessarily working in the hospital?

If you go to UCH, if you call the CMD, he will tell you the hospital functions, the theatres function. There are patients. I can show you live recordings of those of the hospital just three days ago.

In the 2025 budget, not only UCH but almost all our hospitals. We’re working through the Rural Electrification Agency to solarise them so that we use alternative power sources to power our facilities because the cost of diesel is encroaching on their internally generated revenue.

We may be a poor country but we are a capable country and we are determined to own up that responsibility. Now, if others step in and support us, we appreciate it but we are not begging for it and we also will live within what we have but we have the responsibility on us as leaders to ensure that our population gets the care they need. The Federal government is going to do its part. For states, we expect that they will also step in because there are many things that happen at the state level on HIV, TB or malaria. There are health workers, 28,000 of them who were been paid through US government support. While it has been appreciated, those health workers are Nigerians. We have to find ways to transit them.

SalamRushdie:
Next week you will hear he has decamped to APC , take these LP clowns serious at your own peril

Chai

Immediate past Caretaker Committee Chairman of LP in Kaduna State and a critical stakeholder in the ‘Obidient Movement’, Elder Yusuf Solomon Danbaki has asserted that the party will take over power in 2027, he accused the Julius Abure-led leadership of self imposition and misinterpretations of both the High Court and Appeal Court’s judgment and also spoke on a possibility of merger before the 2027 round of elections.

Excerpts from the interview:

The latest court judgment is in favour of Julius Abure, what are the feelers from your camp under Senator Nenadi Usman?

Let me start by saying that the interpretation of the court judgment that is in circulation was done by the Abure-led leadership of the party. So, it was interpreted to suit their interest, giving the public an impression that the judgement was in their favour.

They did that also with the earlier judgement at the High Court and they are doing it again even with the judgement of the Court of Appeal. My call to the media is that when a judgment is passed, seek interpretation either from a neutral constitutional lawyer or get a copy of the judgment because the interpretation of the parties involved might not be the true interpretation. It will be, to favour them.

So, as a party that was involved from Senator Nenadi’s side, give us the interpretation of the two judgements?

Let’s start with the High Court judgment. The case in the High Court was taken to court by Abure when he was denied the right as a party chairman to upload agents’ names and pictures on INEC’s portal. So, he took the INEC to court, demanding that the court grant him the right to do so.

He did that on August 29, 2024, if I’m not mistaken. And then on September 4, 2024, the caretaker committee was formed in Abia State. So, when Abure took INEC to court, Nenadi was not in place. But immediately, the caretaker committee was formed; Nenadi then joined INEC in the suit, seeking to join in the matter. The court then granted her application to join in the matter but did not give her a fair hearing.

So, the court ruled that INEC should grant Abure his right to upload agents of the governorship election in Ondo State. And then, because the application was granted, the court wrote the judgement against INEC and Nenadi, the leader of the Caretaker Committee but she was not heard.

So, they used that to say the court has recognised Abure as Chairman of the Labour Party?

Yes. Then, quietly, INEC and the Nenadi-led Caretaker Committee appealed the judgement in the Court of Appeal. After two months and some days – from October 2024 to January 2025, the judgement of the Appeal Court came. That judgment contains three things. First, the high court did not have the jurisdiction to entertain the matter of the leadership tussle between Nenadi and Abure in the Labor Party. That it is the sole responsibility of the party to determine its leaders.

So, what the High Court did was just an academic exercise. And then, they went further to say that even at that sitting, Nenadi Usman was not heard since she was not given a fair hearing, which is another violation of the basic principle of law. So, in other words, what they are saying is that the judgment in the High Court cannot stand for these two major things: lack of jurisdiction and fair hearing. That was why, in the Nenadi-led leadership, we felt it was not yet Uhuru. We are not celebrating any victory because the court did not also grant the leadership of the party to Nenadi Usman.

So, what the court did was to open up the case for the matter for us to be heard. That was why we did not wait for Abure to go to the Supreme Court. We did because the Supreme Court will listen to us. It is there that we will know who is the leader of the party. The court will also test the process that led to Abure’s leadership.

Process? What process are you referring to?

How he (allegedly) fraudulently selected people by himself, being a sole candidate himself and conducted an election that returned him elected by his appointees when the constitution of the party clearly stated that a convention of such magnitude must be carried out by the delegates who shall be elected at the state level from the local government level. So, this did not happen and Abure went ahead and anointed himself with his cronies.

In the Labour Party, we are not saying Abure should not be the chairman. What we are saying is that the right thing must be done. If truly Peter Obi has come to rescue Nigeria, if truly Obi has come to do the right thing, then charity must begin at home. We must start doing the right thing from the party.

If not, it will be a lie that we are going to do the right thing when we take over leadership and that is why we are pushing for the right thing and by the grace of God, in no distant time, the Supreme Court, I believe, going by the recent judgments they have been passing, it is showing they are being fair to the parties involved.

So, we hope we are going to get the justice we so desire and the whole world will see Labour Party like never before. We will bounce back, bring the aggrieved members together, go to the field and take over leadership from the current APC that has brought untold hardship to Nigerians.

If the judgment was interpreted by Abure-led leadership contrary to the real judgment as you claimed, how come the same Abure was given a warm welcome by the INEC Chairman during his first meeting with political parties in 2025?

The court judgment came on January 17. That meeting took place on January 22. Now, before INEC would call for a meeting, it would have sent an invitation two weeks earlier. When that invitation is sent, it qualifies you as an entrant to that meeting. Now, when a judgment is passed, the court will serve the parties involved. In this case, we have not received the judgment and because of that, he attended the meeting. But that does not translate into stopping him from attending the meeting. Let us wait for the next quarter’s meeting when the court judgment must have been well served.

But are they planning to exit the party?

They are the ones to say whether they are leaving the party or not. But as their strong supporters and followers, what we think is that if we cannot set a good example at the party level, we cannot convince Nigerians that we are going to make any changes. It will be better to leave the party and start afresh, where we can set the example of the kind of leadership we want to bring to Nigeria.

But in 2023, the signature tune was so loud that the party made a good showing at the presidential election. How is it now in 2025, is the party gaining or losing members?

Yes, people are patiently waiting. Let me tell you, what will make us popular is that we have a strong candidate, Peter Obi. Now, we have a weak government that is bringing hardship to Nigerians as a result of bad economy and political policies. This hardship is increasing. And, with the kind of appointments Tinubu is making, I don’t see it reversing anytime soon. Imagine petrol from less than N200 to over N1,000. Labour party is going to bounce back. Obidient Movement is going to bounce back and we are going to take over power, come 2027 whether they like it or not.

You are talking as if you don’t know the power of incumbency. If Tinubu could win the 2023 election from a distance, how much more that of 2027 as a sitting President?

That was what we thought during Jonathan. It is just a matter of coming together.

Are you suggesting a merger like it happened in 2014?

It may not be the Labour Party alone. It is going to be a strong merger with other political parties. It is not going to be easy with the incumbent, but the house of the incumbent is already divided because many of them have realised Tinubu was not what they thought he was, especially here in the North.

What do you mean, how did not see him?

The North has seen that Tinubu is a political scam. He did whatever he could. He used the. Muslim – Muslim ticket, he shared money and now he’s not the president they expect him to be. So, the APC members in this category are looking for alternatives. I can tell you that half of those in APC in 2023 are no longer with him.

So, which are the political parties that are likely going to make that possible?

Negotiations are ongoing.

Including the Labor Party?

Yes. All the leaders of other parties and their candidates are talking. I don’t want to mention names now but five top political parties have given their consent to this move.

MTN Nigeria has increased the prices of its data plan weeks after the Nigerian Communications Commission (NCC) approved a 50 percent hike in the cost of telecom services.

The price increment has been met with outcry, with many lamenting how higher costs may impact the consumption of telecom services.

Here are the new prices of some of MTN’s plans:

15GB/week has risen to N6,000 from N2,000; 1.8GB monthly plan for N1,500, replacing the previous 1.5GB plan priced at N1,000; 20GB plan has been adjusted to N7,500, up from N5,500; 15GB plan now costs N6,500, up from N4,500.

The 90-day 1.5TB plan has jumped from N150,000 to N240,000, and the 600GB 90-day plan increased from N75,000 to N120,000. The two/three-month data plan of 100GN for N20,000 is now 90GB for N25,000, and 160GB for N30,000 is now 150GB for N40,000.

For now, only MTN has increased prices, but Airtel and Globacom are expected to follow after the Nigerian Communications Commission (NCC) approved a 50 percent increase in the cost of calls, data, and SMS on January 20 for the first time in a decade.

The hike is meant to support “the ability of operators to continue investing in infrastructure and innovation, ultimately benefiting consumers through improved services and connectivity, including better network quality, enhanced customer service, and greater coverage.”

The Nigerian National Petroleum Company Limited mulls fresh premium motor spirit price reduction as MRS filling station, in partnership with Dangote Refinery, announced a fuel pump price cut on Monday.

The National President of Petroleum Products Retail Outlet Owners Association, Billy Gillis-Harry, and Spokesperson for Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, made this known in a separate exclusive interview with DAILY POST.

The development follows MRS filling station’s announcement of a fuel price reduction on Monday, for the first time in 2025.

The oil firm stated on Monday in its official X account that its pump price had dropped to N925 per litre in Lagos, South West (N933), North (N945), and South-East (N955). The new per litre price drop is from around N970 previously sold by the company.

This comes weeks after Dangote Refinery, on February 1, 2025, announced an ex-depot price drop to N870 from N970 per litre.

Reacting, Gillis-Harry and Ukadike were optimistic that NNPCL will, in the coming days, announce a PMS price reduction to remain relevant in the country’s downstream sector.

Gillis-Harry said that “NNPC has no choice but to reduce petrol retail prices because it is not possible to see a product at a cheaper price and still go for NNPCL.”

Similarly, Ukadike explained that since the price war between Dangote Refinery and NNPCL persists, the latter cannot afford to do anything other than a price reduction.

“It is likely that NNPCL will drop its price because there is a price war with Dangote Refinery. Once Dangote Refinery announces a price drop, NNPC will follow suit,” he said.

Why petrol price reductions by Dangote and NNPCL is not impacting transportation costs, others

Despite the recent petrol price reduction by MRS filling stations, Gillis-Harry noted that the cost of transportation and food prices have remained stagnant.

According to him, the weak purchasing power of Nigerians is the major reason the fuel price reduction is not impacting food prices and transportation costs.

“If you watch, the cost of transportation has not reduced in spite of the reduction of fuel at the retail market. That tells you that the purchasing power of Nigerians is very weak.

“In my opinion, we need to engage Nigerians in production activities such as farming, fishing, and technology.

“Go to the park, you will see that the price of transportation cost has not been impacted by the fuel reduction,” he stated.

However, Ukadike said that the impact of the petrol price reduction will be felt on transportation, goods, and services in the long run.

“The impact will be gradual; it will eventually impact transportation and others,” he noted.

Concerns over frequent petrol price adjustments

Gillis-Harry frowned at the frequent adjustments of petrol price by actors in the oil and gas sector.

He noted that incessant price adjustments will affect petrol security.

He added that arbitrary petrol price hikes cause serious losses to marketers who might lift fuel stock before the arrival of new stock.

“There was a lot of fuel that was purchased at the old price that is still in the system, and they have not been sold.

“Marketers cannot sell below the cost price. It is completely impossible for someone to buy a product at N970 per litre and sell below the purchase price.

“MRS that is trying to deepen the distribution process with PETROAN and Dangote Refinery still has the same challenge of the buying power,” he told DAILY POST.

DAILY POST reports that last December, Dangote Refinery had slashed its petrol ex-depot price from N899.50 per litre to N970.

NNPCL also announced a PMS price drop to petroleum markets.

The price rivalry between NNPCL and Dangote pushed fuel prices down in the last lap of 2024.