₦airaland Forum

Namaster:
What is going on with Olabisi Onabanjo University?

#1.2 BILLION for them.
That's easily 10X the amount some schools received.

Something FISHY is going on there.

Renewed Hope everywhere

What you need to know about the reconstruction of the Ibadan-Ilesa/Ife Federal Highway.

-Unprecedented road structure in the history of Nigeria

-Mainly concrete.

-Thickness 20cm height

-First section 11km done(From Iwaraja, ilesa, Osun State)… pic.twitter.com/n1VJDHabAI

— Ubaidullah Yahaya kaura (@Ubaidullahkaura) January 26, 2026

Another day to give you the latest update on the infrastructural strides of the Renewed Hope administration under President Tinubu; the ongoing reconstruction of Ilesa-Ife-Ibadan highway. pic.twitter.com/TM7ElNkzvJ

— Daddy D.O🇳🇬 (@DOlusegun) January 22, 2026

Dangote Petroleum Refinery and Petrochemicals FZE has suspended petrol sales, nullifying all active Premium Motor Spirit (PMS) deal recaps with customers, as rising demand coincides with ongoing maintenance on key processing units at the facility.

In a notice sighted by Petroleumprice.ng and circulated to counterparties on Monday, the refinery informed customers that all existing PMS deal recaps are now invalid. The communication, signed by its Group Commercial Operations team, did not provide a timeline for replacement terms or revised delivery schedules.

Deal recaps typically confirm commercial parameters such as volumes, pricing benchmarks, delivery windows, and payment conditions. Their cancellation effectively pauses previously agreed gasoline supply commitments and signals a temporary reset of trading arrangements.

Market sources link the move to a combination of heightened demand pressures and operational adjustments underway at the Lekki-based refinery, Africa’s largest with a nameplate capacity of 650,000 barrels per day.

CDU Maintenance and Throughput Adjustment
At the operational level, Dangote Refinery is preparing a short, planned shutdown of its crude distillation unit (CDU), the primary unit that processes crude oil into feedstocks for downstream conversion units.

Shipping and flow data indicate that crude inflows to the refinery have slowed in January, averaging about 290,000 barrels per day, down from roughly 440,000 barrels per day in December. With reduced feedstock availability, operating the CDU at suboptimal rates would undermine efficiency, prompting the refinery to align throughput with available crude during the maintenance window.

Industry sources describe the CDU outage as temporary and strategic, aimed at operational optimisation rather than signalling deeper supply stress. The refinery continues to fine-tune unit coordination as it transitions from ramp-up to more stable operations.

Gasoline Strategy Under Pressure
The suspension of the PMS deal recaps also comes against the backdrop of ongoing work on the refinery’s residue fluid catalytic cracker (RFCC), its main gasoline-producing unit. While the RFCC remains offline for planned maintenance, Dangote has relied on blending components from other units to sustain output.

and for locally refined petrol rising and operational flexibility constrained, market participants say the refinery may be prioritising inventory management and internal balancing over fixed commercial commitments.

The Menace Of Street Begging In Kano pic.twitter.com/m3WmrBrUbK

— Channels Television (@channelstv) January 24, 2026

History is brutally honest: monopolies are never accidental. They are built when governments confuse “big investors” with “public interest,” and when power is allowed to concentrate faster than regulation can respond.

Ogun State now stands at such a moment.

With a seaport coming onstream and offshore oil drilling ready in Eba, Ogun Waterside, the state is on the brink of a transformational economic leap. But transformation cuts both ways. If Ogun fails to act deliberately, it risks creating a private empire one that controls ports, oil, logistics, pricing, and political influence in one sweep. Nigeria has seen this movie before. The ending is never good for the public.

This is not an argument against investment. It is an argument against unchecked dominance.

The Rockefeller Lesson Nigeria Should Not Ignore

John D. Rockefeller did not conquer America through oil alone. He conquered it by controlling the entire system production, storage, transport, pricing, and access to markets. By the time regulators woke up, Standard Oil had already bent the economy and politics to its will.

Nigeria’s version of this risk is even more dangerous. In a federal system with weak antitrust enforcement and high political capture, a single corporate actor controlling a seaport and an oil field in the same coastal corridor would not just dominate a market it would dominate policy choices.

Ports decide who trades. Oil decides who earns. Logistics decides who survives.

Hand all three to one corporate group directly or through subsidiaries and Ogun would be outsourcing its economic sovereignty.

Growth Without Guardrails Is Not Development

Supporters of mega-investors often argue that scale brings efficiency, jobs, and speed. That is true at first. But without competition rules, scale quickly becomes leverage: leverage over suppliers, over communities, and eventually over the state itself.

Once a dominant player controls evacuation routes, storage facilities, and access to export terminals, competitors do not fail because they are inefficient. They fail because they are locked out. Prices stop reflecting markets and start reflecting monopoly power. Communities become hosts, not stakeholders. Governments become regulators in name only.

Ogun must not wait until this happens to act. Antitrust law works best before dominance hardens, not after.

What Ogun Must Do Now

The solution is neither radical nor anti-business. It is standard practice in mature economies and resource-sensitive regions:

• Structural separation: No company or corporate group should control offshore oil and seaport infrastructure in Ogun simultaneously no matter how they structure subsidiaries or special-purpose vehicles.

• Ownership caps and cross-ownership bans to prevent silent consolidation.

• A Golden Share for Ogun State, giving the government veto power over mergers, asset transfers, and monopolistic expansion.

• Non-exclusive port and pipeline access, with regulated, transparent tariffs.

• A strong, independent coastal market regulator with breakup powers.

• Host community equity, not token compensation, so local people have real stakes.

• Absolute transparency of beneficial ownership to prevent political capture.

These are not obstacles to investment. They are rules of trust signals that Ogun welcomes capital but will not surrender control.

The Choice Before Ogun

Eba and Ogun Waterside could become a model of balanced coastal development multiple investors, competitive markets, strong state revenues, and empowered communities. Or they could become another cautionary tale where one dominant interest grows so powerful that regulation becomes theoretical.

Once monopoly power sets in, reversing it is costly, political, and often violent to the economy. Prevention is cheaper. Prevention is wiser.

Ogun still has the advantage of timing. The port is coming. The oil is coming. The rules can come first.

If Ogun gets this right, it will not just protect itself it will set a precedent Nigeria desperately needs: that development is not about how big an investor is, but about how fairly power is distributed.

Ogun should choose wisely.

Otunba Segun Showunmi
The Alternative.

A new research by Renaissance Capital Africa (Rencap) has examined the market valuation of banks in Nigeria The research ranked Zenith Bank Plc as its "top pick" ahead of GTCO, and ACCESSCORP It further provided insights into the banking industry in Nigeria and gave useful recommendations.

Zenith Bank Plc continues to reinforce its position as one of Nigeria’s most resilient and fundamentally strong financial institutions, with recent research by Renaissance Capital Africa (Rencap) highlighting significant upside potential in both valuation and shareholder returns.

Following a comprehensive review of the Nigerian banking sector, Renaissance Capital Africa Research identified Zenith Bank as a top conviction pick, reflecting renewed confidence in the Bank’s balance sheet strength, earnings quality, and long-term value proposition.

Despite the strong performance of the NGX Banking Index in recent periods, Rencap believes Zenith Bank’s current market valuation does not yet fully reflect its improving fundamentals, leaving room for further upside.

Although we expect banks to face challenges in growing earnings, given our outlook for CBN rate cuts, we believe the balance sheet clean-up of forbearance and SOL exposures, along with improvements in cash profits, will support higher dividend payouts relative to prior years. In our view, this should drive market valuations for our coverage banks. As such, our top picks, in order of conviction, are ZENITHBANK, GTCO, and ACCESSCORP.

A key driver of this positive outlook, according to the research, is the successful balance sheet clean-up arising from the resolution of regulatory forbearance exposures. Loan write-offs and improvements in asset quality have significantly strengthened Zenith Bank’s financial position, providing a more solid foundation for sustainable growth and positioning the Bank to benefit from ongoing policy reforms within the Nigerian financial system. In prior periods, sector-wide profitability was boosted by abnormal foreign exchange-related gains. However, Rencap notes that these gains were largely unrealised and, in line with regulatory guidelines, could not translate into higher cash dividend distributions. Consequently, dividend payouts across the period between 2023 and 2024 remained constrained, despite record headline profitability.

Dividend outlook for Zenith Bank Historically, Zenith Bank has demonstrated a strong commitment to shareholder returns. In 2021 and 2022, the bank recorded one of the highest dividend payout ratios in the sector, underpinned by robust cash generation and disciplined capital management.

Looking ahead, analysts expect a return to higher and more sustainable dividend payout ratios as cash profits improve and balance sheet pressures ease. This anticipated recovery in dividend capacity is viewed as a key catalyst for enhanced market valuation, particularly as investors increasingly prioritise income stability and payout consistency.

Zenith Bank: Valuation upgrade reflects improved fundamentals Reflecting these positive developments, Renaissance Capital Africa Research upgraded Zenith Bank from HOLD to BUY, increasing its target Price by 96%. The revision reflects improved valuation assumptions, including a lower risk-free rate aligned with changes in government bond yields, as well as refined beta estimates.

Although sustainable return on equity assumptions have been moderated to reflect near-term earnings growth challenges, Rencap maintains that Zenith Bank’s valuation remains compelling.

The research firm believes that the combination of a cleaner balance sheet, stronger cash earnings, and improved dividend prospects positions the Bank for superior long-term value creation. Outlook for Zenith Bank Zenith Bank Plc stands at a pivotal stage, transitioning from a phase of balance sheet repair to one of renewed growth and enhanced shareholder value. As regulatory headwinds ease and earnings quality improves, the Bank is well-positioned to deliver stronger dividends and unlock further market value.

With a proven track record of resilience, prudent governance, and a shareholder-focused strategy, Zenith Bank remains a standout institution within Nigeria’s financial services sector, well-equipped to sustain its performance and create lasting value in the years ahead. Zenith Bank retains Nigeria’s top spot Earlier, Legit.ng reported that Zenith Bank emerged the number one bank in Nigeria by tier-1 capital for the 16th consecutive year. The new ranking was released by The Banker, a Financial Times company, which publishes the top 1000 banks in the world.

The Bauchi State Government paid millions of dollars, off the banking system and via unofficial channels, to finance what it called the state’s “security commitment” between late 2023 and July 2024, a PREMIUM TIMES review of government records, official accounts and court documents shows.

A substantial portion of the payouts was disbursed in cash through intermediaries to a wide range of beneficiaries, including individuals and corporate entities.

Processed through unofficial channels and outside banking systems, the cash was handed out by intermediaries acting on behalf of government officials at unconventional locations, including a restaurant, a supermarket, and a private residence in Abuja.

An agent engaged for cash deliveries told the Economic and Financial Crimes Commission (EFCC) that no documents were signed by the beneficiaries who received these “security” payouts.


According to government records and accounts of officials and agents, one of the beneficiaries was a leader of the Miyetti Allah Kautal Hore, Bello Bodejo, who has had run-ins with Nigeria’s security and intelligence community.

Mr Bodejo reportedly spent about six months cumulatively in detention in 2024 and briefly faced terrorism charges within the year before the Attorney-General of the Federation’s office withdrew the case without giving reasons.

The Bauchi State Government, according to its records and agents, disbursed a total of $2.33 million to him in four tranches across four months, between 2023 and 2024.

In July 2024, the Accountant-General of Bauchi State, Sa’idu Abubakar, issued a memo to Governor Bala Mohammed, through the Secretary to the State Government (SSG), for the “regularisation” of the disbursements already carried out from January to July 2024.

The amount captured in the memo totalled nearly $17 million ($16,985,000) and N75.2 million released to individuals, including Mr Bodejo, between January and July 2024.

On 30 December 2025, the EFCC charged the state’s Commissioner for Finance, Yakubu Adamu, and three civil servants in the state with terrorism financing and sundry money laundering offences for the funds released to Mr Bodejo and others.

Mr Adamu’s co-defendants, whom the prosecution described as Bauchi State civil servants and signatories to the state government’s accounts and/or payment instruments, are Balarabe Ilelah, Aminu Mohammed Bose and Kabiru Mohammed.

The charges accused them of releasing funds to Mr Bodejo and others, who allegedly used part or all of the money to finance a terrorist organisation.

The charges also include allegations that Mr Adamu received nearly $7 million from the disbursements in a money laundering scheme. The funds allegedly released to Mr Adamu and Mr Bodejo were also said to have violated the money laundering law for taking place outside a financial institution.

The EFCC arraigned them before the Federal High Court in Abuja on the terrorism financing charges on 31 December 2025.

Governor Mohammed, whose aides have been charged by the EFCC in various cases over the past year, has fumed over the trial. Mr Mohammed, who enjoys immunity from prosecution as a sitting governor, said the EFCC was targeting his officials at the behest of the Minister of the Federal Capital Territory (FCT), Nyesom Wike, a political rival within the Peoples Democratic Party (PDP).

In response, the EFCC described Mr Mohammed’s claim as wild.

The anti-corruption agency stated that it is an independent body established to combat economic and financial crimes. “The attempt to portray it as a pliable agency that panders to the demands of certain political interests is therefore mischievous and condemnable,” it said.

Amid the public spat between Mr Mohammed and the EFCC, trial judge Emeka Nwite of the Federal High Court in Abuja ruled on 6 January that the allegations against Mr Adamu and his co-defendants were so weighty, and documents filed as proof of evidence in support of the charges so compelling that he could not grant them bail.

PREMIUM TIMES obtained some of the court documents filed by the EFCC, including memos on the fund releases and approvals, as well as the extrajudicial statements of some of the state’s officials and agents.

Together, the documents provide a fuller picture of the unofficial, off-bank system that drew billions from the treasury of the Bauch State Government and disbursed them to an array of individual and corporate accounts between 2023 and 2024.


Bodejo: Target of security agencies, darling to Bauchi govt
Bello Bodejo is the national president of Miyetti Allah Kautal Hore, a group of herders-turned-political pressure group, mainly comprising Fulani.

Media reports and open source details reveal that he hails from Nasarawa State and was born in 1979.

In January 2024, Mr Bodejo launched a nomadic vigilante group in Lafia, the Nasarawa State capital, drawing public attention and scrutiny.

He said the group, which had already recruited more than a thousand Fulani youths at the time, aimed to help secure the livelihoods of farmers and herders and share information and intelligence with security agencies.

But the move did not go down well with Nigeria’s security and intelligence community.

The Defence Intelligence Agency (DIA) arrested him on 23 January 2024, accusing him of establishing an ethnic militia group, Kungiya Zaman Lafiya. While he was in custody, the Nasarawa State Police Command declared that the group was not recognised as a vigilante group.

In March 2024, the AGF’s office arraigned him before the Federal High Court in Abuja on three terrorism charges brought under the Terrorism (Prevention and Prohibition) Act, 2022.

Apart from the alleged offence of unlawfully establishing an ethnic militia group, other charges include providing material support, assistance and transportation for activities connected with acts of terrorism.

In April 2024, the defendant applied for bail, but his request was turned down by the court the following month.

However, he was later released from custody after the AGF’s office withdrew the charges against him without giving any explanation on 30 May 2024.

Meanwhile, he was arrested again for undisclosed reasons on 9 December 2024 by the military, which transferred him to the custody of the State Security Service (SSS).

Following a legal challenge of his detention, the Federal Capital Territory (FCT) High Court ordered his release from custody on 30 December 2024.

Mr Badejo’s group, the Miyetti Allah Kautal Hore, is a socio-cultural association of predominantly Fulani pastoralists, whose members are often accused of violent clashes with farmers and residents in Benue, Nasarawa and other states.

Some of their members have also been blamed for being responsible for kidnap-for-ransom in different parts of the country. However, the group has vehemently denied the allegations.

How Bodejo received millions of dollars from Bauchi govt – Agents, Official

A former Accountant-General of the State, Saidu Abubakar, explained Governor Mohammed’s role in the payments to Mr Bodejo. Mr Abubakar, in July 2024, wrote the memo that sought the governor’s approval for the regularisation of the disbursements between January and July 2024.

The former official, in a statement he wrote during EFCC investigation last year, said he facilitated the disbursement to Mr Bodejo based on the governor’s instruction, maintaining that he had no personal relationship with the Miyetti Allah leader or knowledge of the purpose of the money paid to him.

“Why payments were made to Bello Bodejo was based on the governor’s directives, verbally and via WhatsApp chats,” Mr Abubakar, 50, wrote. He added that the payments were regularised by the governor, adding, “I was also asked for the purpose of the payments, and I said I did not know the purpose of the payments.”

In another part of his statement, he said the governor gave disbursement directives to pay him and other persons “via text and WhatsApp messages in addition to phone calls and physical verbal directives.”

He cited instances of when he received the governor’s instruction to pay “the usual N10 million monthly to Malam Nura Suleiman Sale” and “N250 million to Northern Elders.”

“For instance, on 22 June 2024, the governor directed me via WhatsApp chat to give $100,000 to Bello Badejo,” he wrote.

He said the Commissioner for Finance, Mr Adamu, was present on some occasions when the governor gave physical and verbal instructions.

Yakubu Takai, one of the fund delivery intermediaries, gave a vivid picture of how Mr Bodejo was allegedly paid.

In the statement he wrote during interrogation by the EFCC on 11 August 2024, Mr Takai recalled acting on the instructions of Danlawan Abdulmumin, who, by accounts of other interviewees, received billions of naira directly from the state government and coordinated their disbursement. Mr Abdulmumin received funds from government sources through different accounts, including those of his flagship D Nice City No. 1 Ltd, which is based in Wuse Zone 4, Abuja, the hub of black market forex trading in the capital city.

Mr Takai, who identified himself as a businessman operating from Wuse Zone 4, Abuja, said, on different occasions, Mr Abdulmumini instructed him to collect US dollars in cash from Kabiru Sale Mohammed of MAHR Multipurpose Ventures of Zone 4, Abuja, for disbursement to Mr Bodejo.

He said he collected a total of $2.33 million, all in cash, from Mr Mohammed, who is also based in Wuse Zone 4, Abuja, and physically delivered it in four tranches to Mr Bodejo.

According to him, on each of the four occasions that he received the money in parts, he contacted Mr Bodejo through a phone number he claimed Mr Abdulmumini provided. Mr Bodejo would then describe the location for their meeting to receive the money, Mr Taika said.

He shared the dates and locations where he delivered the total $2.33 million in four tranches to Mr Bodejo between December 2023 and March 2024.

According to him, he delivered the first tranche of $100,000 to Mr Bodejo in cash at CT View Restaurant Zone 4, Abuja, on 26 December 2023.

He said the second tranche of $980,000 was delivered to Mr Bodejo in cash at Mr Bodejo’s residence at Brains and Hammers behind Old CBN Garki 2, Abuja, on 7 February 2024.

The next delivery, according to Mr Takai, took place at Wuse Zone 4, Abuja, on 3 March 2024, when he said he handed over $750,000 in cash to Mr Bodejo.

He said he delivered the last tranche of $500,000 in cash to Mr Bodejo on 20 March 2024.

Mr Takai, who said he never knew Mr Bodejo until Mr Abdulmumini introduced him, reiterated that “All the United States of America dollars totalling $2,330,000, I personally handed over in cash to Bello Bodejo.”

Point to ponder about Bodejo payments
Mr Takai’s account of cash delivery to Mr Bodejo raises a point to ponder, which will perhaps be clearer at the trial stage.

Three out of the four occasions during which Mr Takai claimed to have delivered funds to Mr Bodejo coincided with the period of Mr Bodejo’s incarceration.

Save the delivery that allegedly took place in December 2023, the rest of them, according to Mr Takai, happened at different locations in Abuja chosen by Mr Bodejo between February and March 2023.

Yet, several media reports show that Mr Bodejo was arrested by the DIA on 23 January 2024 and held till July 2024.

In fact, the Federal High Court in Abuja rejected his bail application on 27 May 2024.

He remained in custody till July 2024, when the AGF’s office withdrew the terrorism charges brought against him, ending his trial.

Compounding the puzzling situation, Kabiru Mohammed, from whom Mr Takai claimed to have received the dollars he delivered, confirmed in a statement he wrote during an interrogation by the EFCC on 11 August 2024, that he was present when Mr Takai handed the total sum of $2.33 million to Mr Bodejo at all the locations.

Mr Mohammed said he similarly witnessed the delivery of funds by Mr Takai to the finance commissioner, Mr Adamu, at various times.

How Mr Bodejo came to receive money from the Bauchi State government’s agent and chose the venue, including his house, to take the funds, when he was reportedly still in detention, remains a puzzle to be resolved.

How finance commissioner received nearly $7 million

Mr Takai also narrated how he delivered about $7 million to the Commissioner for Finance, Yakubu Adamu.

The delivery, which consisted of eight transactions between April 2024 and July 2024, formed the basis for the sundry money laundering charges contained in the terrorism financing case.

Mr Takai said he received a total of $6,965,000 from one Yusuf Haruna based on Mr Abdulmumini’s instructions, “and handed over all in cash to the current commissioner of finance, Bauchi State, Mr Yakubu Adamu.”

He said he met Mr Adamu after calling him through the phone number provided by Mr Abdulmumini.

As in Mr Bodejo’s case, he said, Mr Adamu chose and described their meeting places on each occasion.

He recalled delivering the first tranche of $2 million to Mr Adamu on 4 April 2024 at CT View Restaurant, Zone 4, Abuja, which, according to his narrative, hosted two of their subsequent meetings.

Three meetings followed in May.

On 5 May 2024, he said he gave Mr Adamu a cash sum of $50,000 at Sahad Stores located in the Central Area of Abuja.

On 15 May 2024, Mr Takai said he delivered $915,000 to Mr Adamu at Asokoro, Abuja.

Mr Adamu chose Amingo Supermarket, Wuse 2, Abuja, for their third meeting in May, according to Mr Takai. At the supermarket, Mr Takai said he handed over $1.5 million in cash to Mr Adamu on 27 May 2024.

The rest of the deliveries took place in July, according to Mr Takai’s account. He said he handed over $200,000 to Mr Adamu at the Federal Ministry of Finance, Abuja, on 1 July 2024. This was followed by another delivery on 4 July, when Mr Takai said he handed over $50,000 to Mr Adamu.

Mr Takai said he delivered $250,000 to Mr Adamu at NNPC Headquarters, Abuja, on 6 July 2024.

On 25 July 2024, Mr Takai said he handed $2 million in cash to Mr Adamu at CT View Restaurant, Zone 4, Abuja.

He stressed that neither Mr Adamu nor Mr Bodejo gave any “acknowledgement of receiving the above stated amounts from me”.


Abdulmumuni: The Bauchi’s pre-eminent cash purveyor
The centrality of Mr Abdulmumini to the money vending system emerged in at least six statements written by 36-year-old Yusuf Haruna.

Mr Haruna, a physics graduate and holder of a master’s degree in nuclear physics, was the person from whom Mr Takai claimed to have received the $6.95 million he handed to Mr Adamu, the finance commissioner, on Mr Abdulmumini’s instruction.

Mr Haruna, who authored at least six statements dated 3 April 2025, 26 May 2025, 1 August 2025, 11 August 2025, 25 August 2025, and 26 August 2025 during EFCC interrogations, gave detailed descriptions of the funds he received from Bauchi State Government-related sources.

He detailed how he received cash inflows from the accounts and followed Mr Abdulmumuni’s instructions on how to distribute them.

PREMIUM TIMES tracked at least N7.6 billion Mr Haruna received in his trading accounts, including those of AMY Trading Concept Ltd. He said he registered the business in 2023 for trading in groundnut, palm oil and forex, among others.

Some of the sources of the inflows are the Bauchi State Secretary to the State Government (SSG) Office, Bauchi State Sub-Treasury, and Bauchi Investment Corporation MFB. Other corporate accounts, which did not carry the state government’s name, were believed to have sent money to Mr Haruna as the agent of the state government.

Most of the funds received went to the account of D-Nice No.1 City Ltd, operated by Mr Abdulmumini. Some were disbursed through bank transfers. Others were delivered in cash, in naira or dollars – in Bauchi, Dubai and Abuja.

Disbursements like these, which occurred from July 2023 to 2025, are reflected in separate charges the EFCC has filed against several serving and former officials of Governor Mohammed’s administration in the last few months.

The latest include the finance commissioner, Mr Adamu, whom the EFCC arraigned along with others last month.

Apart from the terrorism financing charges brought against him, there is also a pending money laundering case filed against Mr Adamu and a corporate co-defendant in December.

While the court granted him bail in the money laundering case on 2 January, it denied him and his co-defendants bail in the terrorism financing charges on 5 January.

In April 2025, the EFCC arraigned the Accountant General of Bauchi State, Sirajo Jaja, along with a bureau de change operator, on charges of transferring and converting billions of naira belonging to the Bauchi State Government.

The defendants allegedly committed the offences between 10 July 2024 and 25 November 2024.

The EFCC arraigned them for the offences before a trial judge, Obiora Egwuatu of the Federal High Court in Abuja.

Apart from Mr Jaja and his co-accused, the bureau de change operator, other suspects, including a former Secretary to the State Government, Ibrahim Kashim, were named to be part of the alleged fraud but were said to be at large.

Mr Kashim resigned as the state’s SSG in December 2024, just about a month after the part of the transactions complained of in the EFCC charges allegedly took place in November 2024.

The former official recently denied any wrongdoing regarding the allegations.

Meanwhile, the trial court has set 13 January for the commencement of the terrorism financing trial involving Mr Adamu.

Oil marketers have revealed that they are getting their petrol supplies from Dangote Refinery and Petrochemical, insisting that nobody is importing the product for now.

They stated that the supply chain has been stable, with the oil marketers now buying their products from Dangote Refinery.

However, some marketers argue that petrol importation is still going on as the domestic refining capacity is not enough to meet national demand.

What the marketers are saying
In an exclusive interview with Nairametrics, the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, said independent oil marketers have no complaints as there is no shortage of products, with prices dropping.

Ukadike emphasized that he doesn’t think anybody is importing petrol at this moment, as they are getting all their supplies from Dangote Refinery.

He said, ‘’Well, since Dangote has reduced his price, and we have not complained of a shortage of products. Even when it’s in the Christmas period, when you know that there is a high level of traffic. There is no shortage of products, and there is no importation.

‘’So, you will find out that the supply chain is stable. So, that one, literally, has also cancelled all these accusations and counteraccusations on petrol importation. I don’t think anybody is importing within this period on that regime. Nobody is importing now. I’m sure that nobody is importing. So, all the supplies we are getting now are from Dangote. You know Dangote has also opened up the market for independent marketers.’’

There had been earlier reports that the fuel supply arrangement between the Dangote Refinery and 20 major petroleum marketers, under which the parties agreed to offtake 600 million litres of petrol monthly, had collapsed over pricing disagreements, leading to an upsurge in the importation of the product in November 2025.

The agreement, which was structured as a pilot arrangement, was part of efforts to stabilise supply in the domestic market and ease the recent surge in pump prices.

Surge in petrol import
According to a fact sheet from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), petrol importation rose to 1.563 billion litres in November 2025 from 828 million litres of petrol imported in October 2025.

However, Dangote Petroleum Refinery, in its reaction, refuted claims that the surge in petrol imports in November 2025 was linked to a breakdown in supply arrangements between the oil firm and petroleum marketers, describing the report as inaccurate and misleading.

It noted in its clarification that no supply agreement with oil marketers had collapsed, adding that its engagement with the downstream market was deliberately structured to meet rising demand and enhance access, competition, and efficiency.

Also, independent oil marketers had distanced themselves from suggestions that the surge in petrol imports in November 2025 was linked to a breakdown in supply arrangements between Dangote Refinery and petroleum marketers.

They stated that the report does not reflect the reality experienced by oil marketers, emphasizing that the commencement of supply from Dangote Refinery has significantly improved product availability nationwide.

On independent marketers buying directly from Dangote Refinery, the IPMAN Spokesman said, ‘’We are buying directly now from Dangote. Instead of that three-tier distribution process, we are now taking directly, and it (Dangote refinery) has reduced the volume, 250,000 litres. Instead of the 500,000. So, it also means that marketers can just combine and get some product as quickly as possible.’’

Price reduction will continue
Ukadike said the marketers are impressed with the level of openness from Dangote Refinery and expect further downward review of prices as operations stabilize.

‘’Even in this period when fuel is normally high and scarce, day by day you will see a downward review from marketers. So, we are impressed with the level of openness Dangote has introduced in the market. It also makes the market more competitive. The effectiveness of production and pricing, you know, determines price stability and distribution. So, independent marketers were happy, and we applaud that kind gesture.

‘’Once the local pricing is cheap, that will be a drastic price drop, because the transportation logistics are much cheaper and are also more affordable. That policy of supplying directly to Independent marketers has started and it’s paying us tremendously, ‘’ he added.

Stock security
In contrast, another retail oil marketer, Edwin Ogah, admitted that marketers are still importing petrol. He, however, stated that the imported petrol is basically for stock security, to build buffers to avoid scarcity, and not to dump the product beyond the demand.

Ogah said, ‘’I don’t think that narrative is correct at all. What happens is that imported volumes are sometimes higher than immediate daily consumption because marketers build buffers to avoid scarcity. Nigeria still relies significantly on imports, so cargoes come in batches. This can create the impression of “excess imports,” but in reality, it’s about stock security, not dumping fuel beyond demand.

‘’At the moment, I don’t think domestic refining is sufficient to meet national demand. While we now have growing domestic refining capacity, it has not yet reached the scale, consistency, and nationwide distribution required to fully replace imports. The supply chain is relatively stable compared to previous years, but it remains sensitive to FX availability, port congestion, pipeline integrity, and trucking costs.

‘’Many marketers are still importing fuel. Importation remains necessary to bridge the supply gap left by insufficient local refining. Any marketer who has access to FX and credit will continue to import to ensure steady supply, especially during peak consumption periods.’’

He said that the Dangote Refinery has started producing and supplying products, noting that full-scale, seamless direct supply to all marketers is evolving and still being fine-tuned.

What you should know
Nairametrics had reported a few days ago that Dangote Petroleum Refinery refuted reports claiming it was shutting down for maintenance, insisting that it continues to operate at full capacity while supplying over 50 million litres of petrol daily to the Nigerian market.

The refinery, in its statement, described the reports as false, misleading, and deliberately promoted to create panic in the downstream petroleum market.

The 650,000 barrels-per-day facility said production remains stable and uninterrupted, reaffirming its role as a stabilising force in Nigeria’s fuel supply amid recent pump price volatility.

In a related development, in December 2025, Dangote Refinery had, in a letter to the NMDPRA, confirmed its readiness to take full responsibility for Nigeria’s domestic petrol supply, pledging to deliver 1.5 billion litres of petrol monthly from December 2025.

The Standards Organisation of Nigeria (SON) has launched investigations into counterfeit television production following a viral video exposing fraudulent practices at Alaba International Market in Lagos State.
The viral video, which circulated widely on social media, showed stacks of television cartons bearing logos of popular brands like LG and Hisense. An unidentified narrator in the clip alleged that traders at the market were assembling low-quality televisions and fraudulently branding them as genuine products from well-known manufacturers.

According to the narrator, counterfeit operators print brand logos on cartons, remote controls, and television frames to deceive buyers. He claimed to have visited a shop with over 3,000 fake television sets already branded and ready for sale.

“I was in Alaba and I came across these guys that are printing on new televisions, especially LG and Hisense. If you bought an LG TV, irrespective of the size, and it has this carton, it is actually fake,” the man said in the video.

He further alleged that the counterfeit operators order low-quality televisions from Chinese manufacturers, then rebrand them locally to resemble premium products.

Angela Okisor, Press Liaison Officer for SON, confirmed that the agency has begun tracking those responsible for the fraudulent operation. Speaking on Friday, she said SON is collaborating with security operatives and working with market unions to address the issue.

“We are tracking the stuff. We are working with the union to sort it out. We are working with security operatives on it. We are working at a high level,” Okisor stated.

Residents and market observers have warned buyers to exercise extreme caution when purchasing electronics at Alaba Market. Ajayi Damilola, a local resident, noted that both genuine and counterfeit products are sold in the area, making it difficult for unsuspecting customers to distinguish between them.

"In Alaba, there is nothing you can’t find. Fake products are repackaged like originals, so you have to be very careful when buying things there,” Damilola said.

Social media users also condemned the practice. Daniel Regha, a popular commentator on X, emphasized that the problem extends beyond electronics to pharmaceuticals and food products. He advised consumers to purchase only from trusted distributors and verify serial numbers directly with manufacturers.

Another user, @YesItsBash, claimed that experienced buyers can identify counterfeit televisions through various indicators including packaging quality, remote control design, menu interface, and suspiciously low prices.

The revelation has sparked widespread concern about consumer protection and the proliferation of counterfeit goods in Nigerian markets.

The revelation has sparked widespread concern about consumer protection and the proliferation of counterfeit goods in Nigerian markets.

Nigeria’s commercial capital, Lagos, has earned international recognition as one of the world’s seven must-visit art destinations for 2026, according to a prestigious listing by Artsy, a leading global online art marketplace.

The announcement, detailed in an article titled “7 Art Destinations to Visit in 2026” and published on January 8, described Lagos as “a banner biennale in West Africa’s preeminent art capital.” The city joins an elite group of cultural hubs including Venice, Italy; Doha, Qatar; Sydney, Australia; Bangkok, Thailand; Philadelphia, Pennsylvania; and Malta.

According to a statement released Friday by Gboyega Akosile, Special Adviser to the Lagos State Governor on Media and Publicity, Artsy highlighted Lagos as “rapidly becoming the commercial and creative engine of African contemporary art,” with expectations that this momentum will accelerate throughout 2026.

The recognition is anchored by several major cultural events scheduled for the year. The fifth edition of the Lagos Biennial, running from October 17 to December 18, will feature a main exhibition curated by Folakunle Oshun under the theme “The Museum of Things Unseen”—an exploration of ancestry and cultural history through museology. Artsy noted the biennial’s distinction for its “thematic urgency and use of non-traditional sites, mirroring the city’s density and political charge.”

October will also mark the official launch of The Àkéte Collection – Museum of Modern and Contemporary Art’s permanent home, designed to serve as a “living archive” for the African continent. Additionally, the 11th edition of ART X Lagos art fair is scheduled for November 5-8.

“Many of the young artists in Nigeria believed they had to leave the country to establish themselves globally. I wanted to change that. I wanted to bring the world to us,” ART X Lagos founder Tokini Peterside-Schwebig told Artsy in December 2025.

The article emphasized that Lagos’s cultural vitality extends beyond these flagship events, sustained by a dynamic year-round arts ecosystem. Galleries including Rele, kó, Ogirikan Art Gallery, and Nike Art Gallery are actively supporting artists who shape contemporary African discourse, while institutions like the John Randle Centre for Yoruba Culture and History provide historical context for contemporary work.

Responding to the recognition, Lagos State Governor Babajide Sanwo-Olu described the listing as validation of his administration’s commitment to developing the creative sector. He reaffirmed his vision to establish Lagos as the premier destination for arts, culture, and tourism globally.

“We will continue to invest in the sector in which our youths have exhibited remarkable talents,” Governor Sanwo-Olu stated.

The international acknowledgment positions Lagos not only as Africa’s cultural powerhouse but as a global arts destination worthy of international attention and travel.

Microbiologists are issuing a stark warning to households: your kitchen sink may be one of the most contaminated surfaces in your home, harboring dangerous bacteria that can cause serious illness.
New research reveals that leaving dirty dishes to soak overnight transforms sinks into incubators for harmful microbes, creating ideal conditions for bacterial growth that can lead to food poisoning and potentially life-threatening infections.

“The kitchen sink serves as a collection point for unwanted bacteria, including fecal coliforms, foodborne pathogens, and skin bacteria,” explains Jason Tetro, microbiologist and author of The Germ Code. “The warm, moist environment created by soaking dishes allows these microbes to multiply at alarming rates.”

A comprehensive study by Cardiff Metropolitan University examined kitchen surfaces in 46 UK households and found that sinks contained higher bacterial counts than any other area—including cutting boards and countertops. Researchers identified several concerning pathogens, including E. coli, Enterobacter cloacae, and Klebsiella pneumoniae.

E. coli infections, which can prove fatal in severe cases, typically manifest as fever, vomiting, and diarrhea. Recent research has also linked the bacterium to rising colon cancer rates among people under 50. The pathogen commonly lurks in ready-to-eat salads and undercooked meat.

Scientists attribute the high bacterial load partly to common kitchen practices, such as washing raw poultry before cooking—a habit that splashes bacteria across surfaces, utensils, and nearby foods.

“While dry environments may slow bacterial growth, bacteria can still survive and proliferate later,” notes Dr. Brian Labus, public health expert at the University of Nevada. “Food left out near the sink can attract insects that spread bacteria throughout your kitchen.”

Safer Kitchen Practices

To minimize infection risks, health authorities recommend:

Using dishwashers when possible, as high temperatures effectively eliminate harmful microbes
Regularly sanitizing sponges in the dishwasher or microwave
Avoiding washing raw meat, which can spray bacteria onto surrounding surfaces
Washing dishes promptly rather than leaving them to soak
The Food Standards Agency emphasizes that washing raw meat increases cross-contamination risks, potentially spreading germs to other foods and raising the likelihood of food poisoning.

These warnings come as food poisoning incidents continue to concern health officials, including recent E. coli outbreaks traced to contaminated supermarket sandwiches. Campylobacter remains the most common culprit, typically causing diarrhea, nausea, and vomiting that resolve within a week. However, vulnerable populations—including young children, elderly individuals, and immunocompromised people—face potentially fatal complications from such infections.

https://www.tiktok.com/video/7593836692855999752?_r=1&_t=ZS-92xss7razsz


Super Eagles forward, Victor Osimhen has shared a heartfelt message to the team’s fans around the globe following Nigeria’s 2-0 triumph against Algeria in the AFCON quarter-finals on Saturday.

Osimhen contributed to the win with a goal, while Akor Adams also found the back of the net, securing Nigeria’s progression to last-4 stage.

In a video posted on X after the match, Osimhen expressed his gratitude to Super Eagles supporters.

The Galatasaray star also noted the difficult nature of the victory and hope Eric Chelle’s side win the tournament in the coming days.

“Hello Super Eagles fans worldwide, thank you for your support. This victory against Algeria wasn’t easy,” Osimhen said (via PoojaMedia).

“I’m happy that the team got the win against Algeria. We’ll continue to build on this momentum, and hopefully, we’ll get to the AFCON final and win the trophy.”

With four goals in the tournament, Osimhen is now just one goal shy of Morocco’s Brahim Diaz.

https://www.tiktok.com/video/7592698263355018517?_r=1&_t=ZS-92tRYGFIkzt


A former Super Eagles captain, Mikel Obi, has defended Victor Osimhen’s aggressive reaction during his on-pitch confrontation with teammate Ademola Lookman.

He described the striker’s attitude as part of a “warrior spirit” needed for success at the highest level.

Osimhen and Lookman clashed during Nigeria’s 4–0 win over Mozambique in the Round of 16 of the 2025 Africa Cup of Nations on Monday.

The clash followed Lookman’s failure to pass to Osimhen in a promising move that could have completed the striker’s hat-trick.

Speaking on his Obi One podcast posted on YouTube on Wednesday, Mikel said Osimhen’s passion and intensity should not be misunderstood.

“One thing people need to understand about Victor is that he plays with his heart on his sleeve,” Mikel said.

“He’s a fighter, he plays like a warrior, and that’s what top teams need. He gives everything on the pitch, and that’s how he gets the best out of himself.”

Osimhen had already scored twice in the match, with both goals assisted by Lookman, before the incident occurred midway through the second half, with Nigeria leading 3–0.

The Galatasaray striker was seen shouting and gesturing, leading him to demand a substitution.

He was booed by fans as he left the pitch and stormed straight to the tunnel at full-time, bypassing team celebrations.

Mikel said he understood Osimhen’s frustration, noting that most strikers would react similarly after being denied a potential hat-trick.

“As a striker, when you score two goals, you want the third. Any striker would feel frustrated in that situation.

“Victor is a player who wins games for us, not just with the ball but with his work rate off it as well,” he said.

While praising the competitive edge shown by both players, Mikel said he did not approve of Osimhen’s actions after the incident, particularly his body language and early exit at full-time.

“That part I didn’t like. Football is always about the team. No individual is bigger than the national team, and Victor knows that.”

The ex-Chelsea star, however, welcomed the intensity of the confrontation, arguing that successful teams are often built on high emotions and internal demands for excellence.

“I like seeing players argue and demand more from each other on the pitch. What matters is that once the game is over, you make up and move on.”

He also praised Lookman for his response after the match, describing it as mature, and expressed confidence that both players would resolve the issue quickly.

“They are both important to this team. The manager has to manage the situation well because the last thing you want is friction between your two best players.”

Nigeria will face Algeria in their next AFCON quarter-final fixture on Saturday as they continue their bid for the title.

Troops, 12 Brigade Nigerian Army Lokoja on Saturday 3 January 2026 recorded another operational successes following coordinated patrols and ambush, conducted in Kabba Bunu and Yagba West Local Government Areas of Kogi State.

A statement by the Acting Assistant Director, Army Public Relations 12 Brigade Nigerian Army Lieutenant HASSAN ABDULLAHI says the troops, acting on credible intelligence on the movement of bandits from Adankolo area towards Agbadu Bunu in Kabba Bunu LGA, swiftly deployed and laid ambush at bandits identified crossing point.

He says the he bandits subsequently ran into the troops's ambush where they were engaged.

In the course of the encounter, troops neutralized two bandits and recovered one AK 47 rifle.

Relatedly, further intelligence revealed another movement of bandits around Saminaka village in Yagba West LGA.

The statement says Troops, in conjunction with local vigilantes, conducted a patrol to the village and adjoining forested areas. On arrival, the village was observed to have been deserted, prompting troops to dismount and explore the surrounding forest and routes leading towards the Saminaka Sabo Rijiya road where they came across a number of bandits and engaged them.

During the operation, troops also arrested a suspected bandit logistics supplier identified as Sunday Adedotun, from Odo Eri village in Yagba West LGA.

The suspect was apprehended on a farmland within Saminaka village, claiming to be assisting farmers in transporting produce from their farms.

Items discovered include cartons of energy and soft drinks, bottled water and harvested farm produce.

The suspect according to the statement is currently in custody undergoing investigation.

Commander, 12 Brigade Nigerian Army, Brigadier General Kasim Umar Sidi commends the troops for their professionalism, courage and timely response to credible intelligence, noting that their actions reflect the high level of commitment to duty.

He assures the public that troops will continue to sustain aggressive patrols, ambushes and intelligence driven operations to deny criminal elements freedom of action within the area.

Senator Oluremi Tinubu, wife of Nigeria’s president, welcomed the nation’s first baby of 2026 during a hospital visit on Thursday, continuing her annual tradition of celebrating New Year births and supporting maternal healthcare.

Baby Zion Adakole entered the world precisely at midnight on January 1 at the Federal Medical Centre in Abuja. His mother, 26-year-old Patience Adakole, delivered him via caesarean section in her first childbirth experience alongside her husband, Celestine Adakole.

During her visit, Mrs. Tinubu presented young Zion with a National Birth Certificate from the National Population Commission, along with gifts and financial support. She extended similar gestures to other newborns at the facility, including three additional babies born on New Year’s Day and a set of quadruplets whose parents, Mr. and Mrs. Blessing Oragwu, had waited 13 years for children.

The First Lady characterized Zion’s birth as representing both the new year and fresh opportunities for the nation. She emphasized the government’s dedication to fostering conditions where Nigerian children can reach their potential.

Mrs. Tinubu held each infant, offering prayers for the babies, their families, and all Nigerians. She urged parents to treasure their children as future national leaders and called on citizens to show compassion by supporting those in need.

The hospital tour is scheduled to continue at other medical facilities across the Federal Capital Territory, including the National Hospital in Abuja.

Accompanying the First Lady were Vice President’s wife Hajiya Nana Shettima, Women Affairs Minister Hajiya Imaan Sulaiman-Ibrahim, National Population Commission Chairman Aminu Yusuf, and other officials.

Araba Femi Sanni, Chairman of the Stefolga Group, has expressed heartfelt gratitude to clients, listeners, partners, and well-wishers in his New Year message for 2026.

The message, conveyed on behalf of the group’s subsidiaries, including Stefolga conglomerate, Flow FM 92.7, and Araba FC, highlighted the essential role of collaboration and trust in the organization's operations and community impact.

Araba Sanni emphasized that such partnerships remain the foundation of the group’s engagement and success.

He wished all stakeholders a prosperous, healthy, and successful new year, reaffirming a shared commitment to growth and development in 2026.

Funke Akindele has once again made history in Nollywood, with her latest film “Behind the Scenes” claiming the title of highest-grossing Nigerian movie of 2025 and achieving the fastest climb to N500 million at the box office.

Distribution company FilmOne announced the milestone on Instagram Monday, revealing that the film has earned N512 million while topping weekend cinema charts across West Africa. “Thank you, West Africa, for showing up, filling cinemas, and carrying this story with love,” the company wrote, celebrating what they described as “a historic run.”

The film achieved this remarkable feat within days of its theatrical release, surpassing competing titles in Nigerian and Ghanaian cinemas. “Behind the Scenes” tells the story of Ronke Fernandez, a successful woman navigating challenges to her generosity and personal boundaries. Akindele leads a star-studded ensemble including Tobi Bakre, Iyabo Ojo, Uzor Arukwe, Mr Macaroni, Destiny Etiko, and Scarlet Gomez.

This success continues Akindele’s extraordinary box office dominance. Her 2024 release “Everybody Loves Jenifa” broke multiple records by racing past N500 million before ultimately crossing the N1 billion threshold. In 2022, “Battle on Buka Street” earned over N668 million, while her 2020 production “Omo Ghetto: The Saga” grossed more than N636 million and held the record for highest-grossing Nollywood film until her subsequent releases surpassed it.

Why Saidu Aliyu Mohammed’s appointment is a defining regulatory trust test for NMDPRA

If downstream regulation loses trust, Nigeria does not merely face higher prices. It faces a deeper hazard: market capture; where influence replaces rules

Nigeria is standing at a fork in the road in its downstream petroleum sector. One path leads to a competitive market; multiple refiners, transparent rules, predictable pricing signals, and lower long-term risk.

The other path looks efficient in the short term but is dangerous in the long run: a market where one dominant player becomes so large that regulation quietly bends around it.

The nomination and swift confirmation of Saidu Aliyu Mohammed, an engineer as CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) arrives at precisely this sensitive moment; after a public dispute between the regulator’s outgoing leadership and Aliko Dangote over market rules, imports, and credibility.

In that environment, the key issue is not competence on paper. It is regulatory independence and the public’s ability to see it.

If downstream regulation loses trust, Nigeria does not merely face higher prices. It faces a deeper hazard: market capture; where influence replaces rules and the “referee” is perceived to be wearing one team’s jersey.

NMDPRA is not an ordinary agency. It is the umpire for licensing, quality standards, pricing frameworks, supply discipline, and competitive fairness. These issues directly shape inflation in Nigeria, transport costs, food prices, and business survival.

In a market where one player has extraordinary scale, capital, and political reach, small regulatory “tilts” become massive economic outcomes.

A slight preference in licensing speed, product rule interpretation, access conditions, compliance enforcement or import policy signals can quietly shift the entire playing field and once the market senses that the biggest actor is “too important to challenge,” competition dies without a formal announcement.

This is how monopolies are born: not always through a single law, but through a thousand small decisions that cumulatively make everyone else unviable.

WHY THIS APPOINTMENT TRIGGERS A REGULATORY-TRUST ALARM

When a leadership change follows immediately after a high-profile clash between a regulator and the most powerful downstream investor, the reputational risk is obvious: Nigerians may reasonably suspect a move from neutral oversight to managed outcomes.

That suspicion becomes more severe if there are any recent advisory, consulting, or commercial ties (real or perceived) between the incoming CEO of NMDPRA and any entity with major interests before the authority.

Even the appearance of closeness matters, because the downstream market runs on confidence. If investors and operators believe the referee is aligned with the dominant team, they stop competing on efficiency and start competing on access. This makes the results predictable: smaller refiners and marketers reduce investment or exit, new entrants pause or cancel projects, innovation slows because outcomes are no longer merit-based, consumers lose choice and pricing power concentrates on one entity.

This evolving model could make Nigeria easily move from a “scarcity crisis” to “single-supplier dependency.”

Nigeria has suffered enough from dependency. It cannot afford to replace foreign dependency with domestic dependency.

A SECOND RED FLAG: PROXIMITY TO REGULATED ENTITIES

Recent reporting has linked Engr. Mohammed to an incoming non-executive board role in a regulated-sector company effective 1 January 2026. Even where lawful, near-term board affiliations with sector participants can inflame conflict-of-interest concerns unless the public sees clear actions: resignation where necessary, cooling-off compliance and a documented recusal regime.

The standard here should be simple: no grey zones in a sector this politically charged and economically consequential.

THE “SYSTEM CONTINUITY” QUESTION NIGERIA MUST ASK

Nigeria’s downstream story has been a long cycle of broken promises: failed crude oil refineries, supply shocks, unstable rules and expensive workarounds. This is not a personal indictment of any one official but it is a legitimate national question:

Does this appointment represent a clean break from old habits or continuity dressed as reform?

A regulator trying to rebuild legitimacy must be more than technically experienced. It must be structurally independent, publicly accountable and visibly willing to enforce rules against the biggest players not only the weakest.

If the regulator cannot credibly regulate the dominant actor, then Nigeria has not built a market. It has built a hierarchy.

THE NEXT 90 DAYS: A PASS/FAIL TEST FOR ANTI-MONOPOLY CREDIBILITY

If government intends this appointment to restore trust and prevent monopoly risk, the next steps must be non-negotiable, immediate, and public:

1. FULL TRANSPARENCY DECLARATION

Publish a clear disclosure of recent engagements, advisory roles and beneficial interests linked to major regulated entities across refining, trading, shipping, depots, and retail.

2. A BINDING RECUSAL AND ETHICS FRAMEWORK

State (publicly) what decisions the NMDPRA CEO will not participate in and which internal controls will manage those files.

3. COMPETITION-FIRST REGULATION COMMITMENTS

Announce measurable enforcement priorities: non-discriminatory licensing, transparent product standards enforcement, predictable market rules, and zero preferential treatment (regardless of size)

4. A PUBLIC PERFORMANCE SCORECARD

Quarterly reporting on licensing timelines, compliance actions, product quality enforcement, and supply stability – an individual’s discretion must shrink so that confidence can grow.

These recommendations are not public relations gestures. They are the minimum governance controls that stop dominance from hardening into control.

THE URGENCY: NIGERIA MUST ACT BEFORE THE MARKET HARDENS

Monopolies are easiest to prevent at the start and hardest to reverse once the ecosystem has adjusted around them.

Once competitors shut down, once investors walk away, once supply chains become single-threaded, the country loses leverage. At that point, Nigerians will not be negotiating prices in a competitive market; they will be pleading for mercy in a controlled one.

This appointment, therefore, is not merely administrative. It is a referendum on whether Nigeria’s downstream future will be governed by rules or by weight.

The fastest way to de-escalate suspicion is not rhetoric. It is radical transparency, enforceable safeguards, and visible even-handed enforcement.

Nigeria does not need a downstream sector that simply works,Nigeria needs a downstream sector that works without fear, without favor, and without one player becoming the market itself.

Babajide Ogunsanwo, Multiple Award-Winning Data and Information Analyst writes from Lagos, Nigeria

Ahead of the 2027 governorship election in Ogun State, the Labour Party (LP) has reached out to the convener of The Alternatives and chieftain of the Peoples Democratic Party (PDP), Otunba Segun Showunmi, inviting him to be the party’s flagbearer for the gubernatorial seat.

This was revealed during a visit by party executives, led by its South West Vice Chairman, Abayomi Arabambi, and the state chairman, Mrs Olubukola Soyoye, to Showunmi at his private residence in GRA, Ibara, Abeokuta, over the weekend.


https://www.youtube.com/watch?v=QP_rNWw7cdQ?si=JKZc9YGpx640axA6

The party noted that Showunmi has long been on its radar and commended his passion for good governance and deep commitment to democratic ideals of equity and justice that advance the welfare of the masses.

Speaking during the visit, Arabambi criticised the All Progressives Congress (APC) government in the state, saying it had failed to improve the lives of the people and should be voted out in 2027.

He said: “Labour Party members are here at your private residence to ask you to join us and drive our 2027 governorship ambition. We have suffered enough under the leadership of the APC government, and the people of Ogun State must begin to smile.

“We want you to be our governorship candidate in 2027. We can’t continue to be second-class citizens in our own state; we are suffering and smiling. With your antecedents, experience, and pedigree, we know you have what it takes to offer a refreshing time for the residents of the state. Our roads are bad, schools are in shambles, and urbanisation policies are being pursued with a hidden agenda.”

In his response, Showunmi described LP as a party with a stable ideology, likening it to workers’ parties in China, Brazil, and other parts of the world. He noted that a party which polled over six million votes during the 2023 general elections should not be considered a pushover in Nigeria’s political space.

Showunmi described the party’s gesture as the greatest honour he had ever received, vowing to give serious thought to the request after consultation with President Bola Tinubu, as well as former governors Gbenga Daniel, Ibikunle Amosun, and the incumbent governor, Dapo Abiodun.

He said: “You have called on me to contest on the platform of the Labour Party in 2027. I don’t even know how to begin to thank you for this great honour. Reflecting on everything I have done in life, I can say I have never received an honour this great.

“By the grace of God Almighty, I will consider your request seriously because I will have to leave where I am, where I have invested many years. I have been with the PDP since 1998. When the time to depart comes, no one should be afraid of leaving their comfort zone. So, I will go and think deeply about your request.

“For the 2027 governorship race in the state, I have looked at everyone in the race and have not found anyone more eminently qualified or better prepared for the job at hand.”