₦airaland Forum

In this piece, DIRISU YAKUBU examines the practice of sitting governors demolishing property owned by their opponents to score political points

The Chinese military strategist, Mao Zedong, defined politics as war without bloodshed. Events in Nigeria’s political environment in the past few years have lent credence to that brief but deep-seated definition.

Seen largely as an authoritative allocation of values in society, politics in Nigeria sometimes morph into a vengeful mission to drum home the trappings and essence of power by those who wield it.

In the past few years, Nigerians have been treated to ugly episodes of sitting governors who take on their opponents as soon as elections are over.

Being a zero-sum game in this part of the world, politics in the form of personal attack, replaces electioneering politics when a winner emerges particularly at the sub-national level.

In 2020, shortly after he was sworn in for a second term in office, Edo State Governor Godwin Obaseki turned the heat against the state ex-deputy governor, Mr Pius Odubu, and other All Progressives Congress chieftains, who opposed his second-term governorship aspiration.

The Certificates of Occupancy of their property were revoked alongside that of his own, stating that they were government property which former Governor Adams Oshiomhole gave as parting gifts to former political office holders, companies and private individuals.

“On December 21, 2020, the Edo State Governor, Mr Godwin Obaseki, revoked the Certificates of Occupancy of 11 government properties within the Government Reserved Area which were allotted to former political office holders, companies and private individuals as parting gifts on the eve of the exit of former Governor Adams Oshiomhole from office. One of the properties was allocated to Governor Obaseki and was also revoked,” a government statement read.

Taking a clue from Obaseki’s playbook, Imo State Governor, Hope Uzodimma, wasted no time in getting down to business as the Owerri building of the then spokesperson for his predecessor, Sam Onwuemeodo, was marked for demolition by officials of the state government.

Onwuemeodo, who currently serves as Special Adviser on Media to Rochas Okorocha, had stated that the only reason the building was marked for demolition was his political association with the former governor.

He said, “They have marked the house where I have been living with my family for demolition. As of now, nobody has told me the reason for marking my house for demolition.

“On Friday, March 19, 2021, someone called and told me to be very careful, because the government has decided to demolish my house; that by Tuesday, March 23, 2021, my house would be marked for demolition. And to avoid making it look personal, they would also mark other houses around my own.

“Following this information, on Tuesday, March 23, 2021, I decided not to leave the house early. By 11:22am, two Hummer buses with tinted glasses came and parked in front of my gate. I decided only to watch them. The two buses were filled with young men I wouldn’t like to describe as thugs and about six hefty men in mobile police uniforms, fully armed.”

Before then, Uzodinma, whose political battles with Okorocha are well documented, had ordered the demolition of seven roundabouts built by the latter.

On his part, Kano State Governor, Abba Yusuf, in 2023, ordered the demolition of buildings on government lands sold by the immediate past administration of Governor Abdullahi Ganduje.

In a demonstration of the executive power he possessed, Yusuf, accompanied by the state Commissioner of Police, Muhammed Gummel, was physically present to witness the demolition of the property.

Although the property, according to the state government, was illegally built, many commentators attributed the development to the perennial rift between Ganduje and Abba’s political godfather, Mr Rabiu Kwankwaso.

In his inaugural speech shortly after the 2023 election, Abba, who won on the platform of the New Nigeria People’s Party, gave a marching order to security agencies in the state to immediately take over all public property sold by Ganduje’s administration.

“I am announcing today, that all these public places and assets that were immorally plundered and sold by the Ganduje’s administration should be taken over by law enforcement agencies, led by the police, the DSS, Civil Defence, and Hisbah pending the final decision of the government.

“These places are meant for public utilisation. It is therefore disheartening to witness the incessant destruction and conversion of public places that are used to render social services by unpatriotic citizens. We shall bring an end to land grabbing and indiscriminate erection of illegal structures in the state,” he warned.

Last week, Crystal Place, a shopping mall located on Sulu Gambari Road in Ilorin, the Kwara State capital, was demolished allegedly on the orders of the state government.

In his reaction, a former governor of the state, Bukola Saraki, noted that the mall, owned by Mr Moshood Mustapha, was brought down owing to the latter’s political association with him.

Mustapha was commissioner and special adviser to Saraki and a House of Representatives member on the platform of the Peoples Democratic Party until he defected to the APC.

Saraki, the leader of the PDP in Kwara State, has remained the opposition leader in the state since his party lost control of power in 2019 to the ruling APC.

With this trajectory showing no sign of abating, prominent Nigerians have warned of the dire consequences on the nation’s socio-economic development if left unchecked.

Speaking with Sunday PUNCH, a former Minister of Education, Prof. Tunde Adeniran, lamented the demolition of buildings erected with huge sums of money even as he called for an end to the menace.

According to him, “it is a symptom of Nigeria’s vindictive politics of bitterness,” which he noted, should not be encouraged for any reason.

On his part, newspaper columnist and current affairs commentator, Mr Jide Ojo, agreed with Prof. Adeniran, stressing that the development could be a result of envy or jealousy.

He said, “It is an unwholesome development, which leaves a sour taste in the mouth. This is the carriage of vindictiveness to the highest level. I think it is borne out of envy, jealousy or the pull-him-down syndrome. There was the one between Dapo Abiodun, the Governor of Ogun State, and Gbenga Daniels. A multi-billionaire project of Daniel was demolished.”

Continuing, Ojo warned politicians to make the most of power in the interest of the people.

“It also shows the transient nature of power. When you are there, you want to undo the legacies of your predecessor and when your successor comes, he does the same to you.

“We may expand the argument to include the craze by the incumbent to hurriedly commission projects that are not completed. In this development, there is no trust that if you do not complete your own project, your successor will give you credit for it when he completes it,” he added.

Asked to throw more light on the non-completion of projects, Ojo said, “On the eve of the departure of the former governor of Ekiti State, Kayode Fayemi, he hurriedly commissioned the Ekiti State Airport and they flew one military aircraft to the runway and gathered religious and traditional rulers to add colour to the ceremony.

“However, since the commissioning of the airport, no private or commercial aircraft has flown to the state. What that tells you is that the case of undoing your predecessor may be responsible for this development. Incumbents hurriedly do some things, and publish books to document that XYZ projects were completed during the lifetime of their administration even when such projects were only 70 per cent completed.

“The same thing is happening now in Rivers State. Gov Siminalayi Fubara is turning against Nyesom Wike and Wike himself did the same to Amaechi. Wike set up a judicial commission of enquiry to probe Amaechi, accusing him of selling the patrimony of Rivers State,” he said.

He however added that there’s nothing wrong if demolitions of property are carried out in public interest.

“If a building is erected on a green area or a place designated for relaxation, of course, there is nothing wrong to demolish it. We know that some governors often use their influence to acquire choice property in violation of the law. If such an allocation is revoked and the building demolished, it is in order.”

Also speaking on the political trend, a pro-democracy advocate and founder of Women Arise, Mrs Joe Okei-Odumakin, in a telephone conversation with our correspondent, described the development as unfortunate.

“It is a retrogressive style of governance as we have observed that demolition of property has only involved political opposition or any politically exposed persons that hold a different political ideology to the governors of these states. Personal vendetta is a manifestation of a flawed character. I appeal to our public servants to add conscience to their service,” she said.

Also speaking, a chieftain of the APC, Mr Jackson Ojo, said, “The action of governors that demolish their opponent’s buildings and properties is sheer executive recklessness. Gov Abba did it in Kano State against Ganduje. It is economic sabotage. Some of these properties are on rent to people. Demolishing properties on account of political differences is sheer wickedness. It is against the law.”

Taking a slightly different position is the Chairman of the Human and Environmental Development Agenda, Mr Suraju Olanrewaju.

Describing the culture of demolition as the height of political intolerance, the HEDA boss called for maturity among the political class, noting that politics ought to be about the people, rather than a means for settling personal differences.

“The penchant of our political office holders for intolerance is at its worst crescendo. The governors are the worst culprits as they use the state apparatus and influence to silence dissent, criticism, and opposition. This is responsible for the increasing rate of political violence across the country.

“Politics is essentially about public service. Politicians should realise that they are in power to serve and not to pursue political vendetta against their political foes. The earlier they realise this, the better for them, the citizens and the country as a whole,” he said.

By Saawua Terzungwe


Like the proverbial cat with nine lives, the Senate President Godswill Akpabio, former governor of Akwa Ibom State, defied all opposition to clinch the position of Senate President of the 10th National Assembly on June 13, 2023.

His emergence was characterised by high-powered politics, intrigues, and bickering, considering that he was said to have been President Bola Ahmed Tinubu’s preferred candidate for the number three position.

He defeated his lone challenger, Senator Abdulaziz Yari, former governor of Zamfara State, after polling 63 votes against the former’s 46 votes. Since then, Akpabio has been navigating the legislative political ship.

But while he is admired by many because of the way he jocularly handles some issues during plenary, he is equally known for making controversial remarks over serious national issues.


‘Let’s be eating while Nigerians protest’

On July 31, 2024, Akpabio, while speaking on a planned nationwide protest over the economic hardship, said he and other members of the National Assembly would be “eating” while they (Nigerians) protest.

He spoke at the Niger Delta Ethnic Nationalities, Youths and Women Group Sensitisation conference in Port Harcourt, Rivers State. The event, organised by the Niger Delta Development Commission (NDDC), was broadcast live on a national television station.

During the event, the Managing Director of the NDDC, Samuel Ogbuku, said the Niger Delta region was not interested in a change of government in Nigeria.

In his remarks, Akpabio said, “Managing Director, I want to thank you for what you said. You said we are not interested in regime change; let us own this government. Those who want to protest can protest, but let us be here eating.” His remark sparked outrage as many felt the Senate president was mocking Nigerians.


Senate chamber not a ‘night club’

On July 18, 2024, Akpabio told the senator representing Kogi-Central senatorial district, Natasha Akpoti-Uduaghan, that the Senate chamber was not a night club, therefore, she must be recognised before speaking during plenary.

The senators were debating a bill for an Act to establish National Road Transport Council, sponsored by the Deputy Senate Leader, Senator Oyelola Ashiru (APC Kwara South).

The bill titled, ‘National Road Transportation Council (Establishment) Bill, 2024’, was aimed at “regulating the road transport industry and the transport profession and other related matters in Nigeria.”

But senators were divided during the debate. Opponents of the bill argued that creating the council would be a duplication of the functions of the Federal Road Safety Corps (FRSC) and Vehicles Inspection Office (VIO).

They argued that the bill shouldn’t be passed at a time the government was trying to implement the Oronsanye report by merging some of the agencies with similar functions. But other senators spoke in support of the bill.

When the senate president subjected the bill to a voice vote to determine its acceptance or rejection, many senators said ‘aye’ and many others said ‘nay.’ This happened twice.

Senator Akpoti-Uduaghan, who had earlier contributed and suggested that the issue of water transportation should also be looked into, to relieve the roads of serious burden stood up again without Akpabio’s permission.

The female Senator said, “Mr President, we don’t want the bill to be killed, we just want a bit of clarification. We don’t want the bill killed, but it should be slightly modified.”

Responding, Akpabio said, “Distinguished Senator Natasha, in the chamber, you have to be recognised before you speak. We are not in a night club.” Senator Natasha responded, saying, “Oh, pardon me.”

Akpabio’s statement was greeted with heavy bashing from many Nigerians, who felt it was derogatory.

And on July 23, Akpabio tendered an apology to Senator Akpoti-Uduaghan over his “nightclub” comment, saying, “I will not intentionally denigrate any woman. I always pray that God will uplift women. Distinguished Senator Natasha, I want to apologise to you. The interest shown on the social media shows that we have enemies. I felt I should tender a public apology to you.”


Prayers to senators’ mail boxes

On August 7, 2023, Senate President Godswill Akpabio goofed when he announced that funds had been disbursed to senators to enjoy their recess.

He was addressing his colleagues after the Senate had concluded the screening and confirmation of ministerial nominees and was about to adjourn the plenary to embark on their annual recess.

Akpabio said, “To enable all of us to enjoy our holiday, a token has been sent to our various bank accounts by the clerk of the National Assembly.’’

However, he was quickly informed by his colleagues that the proceeding was being transmitted live. Upon realising the gravity of his comment, Akpabio swiftly retreated, saying, “I withdraw that statement.”

He then added, “To allow you to enjoy your holiday, the Senate president has sent prayers to your mailboxes to assist you to go on a safe journey and return.”

The “holiday bonus” comment came weeks after the lawmakers were allocated funds to support their “working conditions” in an amended 2022 supplementary appropriation act.

Many Nigerians flayed the senate president, saying it was unfortunate that such a statement could be made by him at a time Nigerians were experiencing hardship.

Let the poor breathe

The “Let the poor breathe” comment by Senator Akpabio amidst the prevailing hardship in the country was followed by condemnation also.

Akpabio made the statement during plenary when the Senate passed a resolution to halt an increase in electricity tariff by the Nigerian Electricity Regulatory Commission (NERC) in an apparent move to stand with Nigerians.

The senate president said, “The prayer is that, let the poor breathe, and Senator Mustapha has seconded that the poor should breathe. Those who are in support of the additional prayer that the poor should be allowed to breathe, say ‘aye’ and those who are against say ‘nay’.”

The senators responded “aye”, to which Akpabio said, “The ayes have it! The poor must be allowed to breathe.”

But while the remarks generated controversy among Nigerians who viewed it as a mockery of poor Nigerians, Akpabio’s media office in a statement defended him saying, “Let the poor breathe’ remark “was to firmly reject any plan of increasing electricity tariff for Nigerians”.

Return to old anthem as best gift

Also, Akpabio said the return to the old national anthem which President Bola Ahmed Tinubu had championed was the ‘best gift for the country and most profound’.

Akpabio had at a joint sitting of the National Assembly with President Tinubu in attendance, said, “Of all the significant things you have done, the most profound is to take us back to our genealogy — the genealogy of our birth — that though we may belong to different tribes, though we may have different tongues, in brotherhood we stand.”

The hasty passage of the bill by the National Assembly to return Nigeria to the colonial national anthem, ‘Nigeria We Hail Thee’, was one of the issues that triggered controversies and backlash in the country.

‘Nigeria, We Hail Thee’, composed by the Britons, was Nigeria’s national anthem from independence in 1960 until 1978, when it was replaced by a new anthem, ‘Arise, O Compatriots.’ The bill to change the anthem, which was simultaneously introduced in the Senate and the House of Representatives, on May 23, received accelerated consideration and passage.

The speed at which both chambers of the National Assembly considered and passed the bill at a time Nigerians were facing challenges of rising inflation and insecurity among others generate backlash.

Many Nigerians questioned the rationale behind the hasty passage of the bill, wondering why it was not subjected to a public hearing, during which various stakeholders would have made inputs.

Analysts speak

Reacting, a political analyst, Chief Jackson Lekan Ojo, described Akpabio’s gaffes as provocative.

He said, “With the senate president’s statements, I can no longer recognise the parliament in Nigeria as the conscience of the public and the sanctuary of the common people, despite their statutory role as representatives of the people.

“It’s becoming unbecoming. It’s demeaning the position of the number three citizen of the Federal Republic of Nigeria.

“Women in another clime could protest because of what he said to Senator Natasha Akpoti-Uduaghan. This is the senate president who said ‘let them be protesting, we will be here eating’. These statements are provocative.

“If characters like this continue to lead this country, there is no hope. I don’t know what the senators are doing about it. It’s an insult to this country and the black race.”

Similarly, a public policy analyst and International Director of Studies at the European Centre for Advanced Professional and International Studies, Lagos, Prof. Anthony Kila, had flayed Akpabio, during a breakfast television show monitored in Abuja, saying his statements were a product of shallow thinking.

Prof Akila said, “I suspect the senate president is living in a world that is very disconnected from the world in which millions of Nigerians are living.

Siminalayi Fubara, governor of Rivers, has approved N85,000 as the minimum wage for civil servants in the state.

The governor approved the minimum wage for workers on Friday during a meeting with representatives of organised labour at the government house in Port Harcourt, the Rivers capital.

Addressing journalists after the sit-down, George Nwaeke, head of the Rivers State civil service, said the implementation of the minimum wage will begin in November.

“He (Fubara) has announced a figure that is higher than the national minimum wage. He has set a sum of N85,000, which is above the minimum wage prescribed nationally,” Nwaeke said.

“As the head of service and a major stakeholder in the labour family, I am very pleased to say that Rivers state civil servants have never had it this good since the inception of this state.

“The labour union leaders and all the other major stakeholders were pleased with this development.”

Also speaking, Emecheta Chuku, chairman of the joint public service negotiating council, commended the governor for approving the minimum wage for workers in the state.

“For the governor to come, despite all the crises and challenges he is facing, and to declare that he will pay N85,000 as the minimum wage, fills our hearts with joy,” Chuku said.

“Of course, we have no doubt, knowing the kind of person we have as our governor. He is a decent man, very responsible, and has risen through the ranks of the system.

“He understands what it takes to earn a living salary. He comprehends the difference between gifting money and paying someone a salary that can sustain them from the first day to the last day of the month.”

On his part, Alex Agwanwor, chairman of the Nigeria Labour Congress (NLC) in Rivers, said workers will stand with the governor.

“We will support him for the next eight years,” Agwanwor said.

The development comes about two days after Babajide Sanwo-Olu, governor of Lagos, announced that civil servants in the state will be paid the N85,000 minimum wage.

In July, President Bola Tinubu signed the minimum wage bill, increasing the workers’ pay package from N30,000 to N70,000, into law.

The Food and Agriculture Organisation of the United Nations (FAO) has estimated a loss of 855,629 metric tonnes of food to the 2024 floods.

This figure according to the FAO represents an amount equivalent to feed 8.5 million Nigerians for the period of six-months.

FAO assistant country representative, Salisu Mohammed at an event to mark the 2024 World Food Day in Abuja yesterday, outlined climate-related crises, inflation, insecurity and economic situation as the key factors that have taken a toll on agricultural productivity and farmers’ livelihoods.

The theme of this year, “The Right to Foods for a better life and future” with a call for governments and private individuals to recognise the hardship and empathise with vulnerable populations who face unique challenges in accessing adequate and nutritious food.

While the FAO acknowledged the federal government drive towards food security, the organisation warned that these food adversities could persist unless the country worked with stakeholders to address the challenges.

The organisation called for a holistic approach including government, private sector, civil society, and local communities to provide an enabling environment for production and equitable access to safe and nutritious diets for all through its agrifood systems policies and programmes.

Federal government has hinted at a plan to step-up wheat production to 750, 000 metric tonnes in the upcoming 2024 dry-season farming.

The target surpassed the 500,000 metric tonnes of wheat earmarked for the 2023-2024 dry-season farming.

Minister of state for agriculture and food security, Sabi Abdullahi who addressed journalists on the occasion of the 2024 World Food Day in Abuja yesterday said that the idea was to increase wheat production to reduce import dependence and enhance food security.

The minister who acknowledged the current challenges facing food production, reiterated the federal government commitment to addressing food accessibility, availability and sustainability.

Abdullahi urged Nigerians to take an active role in tackling food insecurity and emphasised the importance of continued international cooperation to address Nigeria’s food challenges.

He said, “I want to call on governments at all levels, international organisations, private sector, civil society organisations and the general public to work together to bring the food crisis and hunger to the top of the global agenda and invest in short, medium and long-term solutions that will provide everyone with enough food to eat.

I urge all and sundry to get involved by educating ourselves about global food challenges and food insecurity. Let us advocate for policies and initiatives that address hunger, food waste, and sustainable farming practices at the local, national, and international levels. Let us be mindful of those facing hunger and malnutrition and take urgent steps to reduce food loss”

The Libyan Football Federation is panicking after being asked by CAF to submit documents relating to the cancellation of the AFCON qualifying Group D match against Nigeria after the latter refused to play the match after their plane was diverted to Labraq Airport and held hostage for 18 hours without food and water.

According to Libya Al-Ahrar Channel, the Secretary-General and person in charge of running the body, Nasser Al-Suwaie, confirmed in a special statement to Libya Al-Ahrar that CAF has given the Libyan and Nigerian associations until the 20th of this month to submit the documents related to this file.

Al-Suwaie revealed that the Libya FA has assigned a specialised lawyer to provide evidence, adding that there may be collusion from some parties within the CAF, but the position of the Libyan Federation is strong.

Al-Suwaie added that the Libyan Federation did not change the course of the plane’s landing to Al-Abraq Airport, and the reason for changing the plane’s landing to Al-Abraq was a decision by the Libyan state, and that the sovereignty of the Libyan state must be respected by everyone.

The Super Eagles returned the country on Monday with gory tales of taking turns to sleep on the bare floor of the airport, with the team manager, Patrick Pascal, explaining that the toilet had been deliberately seriously messed up by the Libyan officials in anticipation of their arrival

The National Security Adviser, NSA, Mallam Nuhu Ribadu, has stated that a significant number of illicit weapons currently in circulation in Nigeria originally belonged to the Federal Government.

Ribadu stated this on Thursday, during the arms destruction exercise conducted by the National Centre for the Control of Small Arms and Light Weapons (NCCSALW) at Muhammadu Buhari Cantonment in Abuja.

He explained that the weapons ended up in the hands of non-state actors due to corrupt elements within the security agencies.

The NSA condemned security personnel who facilitate the distribution of weapons to terrorists, bandits and other non-state actors.

He assured that the government will do everything possible to ensure the country’s security.

Bode George, ex-deputy national chair (south) of the Peoples Democratic Party (PDP), says he would have left Nigeria if President Bola Tinubu did not send Femi Gbajabiamila after him.

In January 2022, after Tinubu announced his presidential bid, George threatened to flee Nigeria.

“I will move away from Nigeria. I’ll leave because he will be your representative in the international plane. Which investment will he bring here? I am not talking because I have any hatred for him,” he said.

“This is not the kind of person we can hand over this massive country to manage. He will be the greatest joke on the international plane. We should bother who should lead us.

“If by whatever chance he gets to the villa, I won’t be part of this country. And I am not joking. I can go to Ghana and be watching with binoculars from afar. You will see what will happen.”

It was the umpteenth time George had threatened to leave Nigeria for good in the event of a Tinubu presidency.

Speaking in an interview with Arise TV on Wednesday, George said it took Gbajabiamila, the president’s chief of staff, to get him to change his mind.

“During the campaign period I stated it and I meant it; that if by whatever measure Bola Tinubu wins this election, I was going to get out,” he said.

“Once they heard that, Tinubu sent his chief of staff, who is my little brother from Lagos state, Femi Gbajabiamila, to appeal to me.

“He came to say: ‘my boss said I should tell you, please be calm’. They knew they had wronged me. They said they were sorry.”


PDP CRISIS

George said the crisis in the PDP began during the buildup to the 2023 presidential election.

He also asked Nyesom Wike, minister of the federal capital territory (FCT); and Atiku Abubakar, presidential candidate of the PDP in the 2023 election; to sheathe their swords and work toward a resolution of the internal crisis.

“The last convention — the presidential convention — was when everything started. Instead of arresting it, they were exacerbating it,” George said.

“With all that, you cannot have the chairman of the party and the presidential candidate from one side of the divide — they didn’t listen.”

George recounted how he confronted Iyorchia Ayu, ex-party chair, over his promise to step down if a northern presidential candidate emerged.

“Ayu made a public statement that peradventure the presidency comes from the north, he would resign. But when the results were announced, he said, ‘I have four years; I’m not going anywhere’.

“This is breach of trust! Of course, people would react to that. It’s against the party constitution to have the chairman of the party and the presidential candidate from the same zone — it is an anomaly.

“I want to appeal to the leaders of the various groups in the party that it is time to shelve your personal ambitions and let us rebuild the party.

“There is no organisation in the world without crisis but the ability to rebuild the crisis is needed.

“This crisis didn’t start now; it started from the presidential convention and nobody was able to manage it.

“Atiku and Wike should calm down and let us go to the elders meeting where we would start this discussion, to trace this crisis back to that convention, because that was where everything started going in the wrong direction.”

George recalled expressing dismay at the party’s disunity ahead of the election and noted that a crucial meeting was held two days before the poll.

“Two days before the general election, we had a meeting in Abuja, and it was only Oyo governor and Wike that came,” he said.

“They told us the stories of what they were going to do, and Wike said, out of the two candidates from the south, ‘I think we can go with Tinubu’. I said, at this meeting?

“I looked around and said there is nobody that knows Tinubu better than me, and I can’t do that; it would be wrong for you to leave this meeting and have a communique issued that our group has agreed to support Tinubu.

“They further asked me what my suggestion was and I told them they should take the discussion to their respective states to discuss whether they wanted Peter Obi or Tinubu.”

The House of Representatives has asked the federal government to reverse the pump price of petrol and cooking gas through targeted subsidy.

This resolution followed a motion of urgent importance moved by the Minority Leader, Kingsley Chinda (PDP, Rivers) and 111 others during Wednesday’s plenary session.

Last week, the pump price of petrol rose to N998 and N1,030 per litre after NNPC Limited announced the end of the sole offtaker arrangement with the Dangote Refinery.

Moving the motion on behalf of the sponsors, the Deputy Minority Leader, Aliyu Madaki (NNPP, Kano), stated that “the rising cost of petrol and cooking gas poses a significant threat to the livelihood of millions of Nigerians. The unchecked inflationary pressure caused by the increased prices could lead to social unrest, increased poverty, and other negative long-term effects.”

He further warned, “Unless urgent and pragmatic steps are taken to control the rising cost of petrol and cooking gas, the nation will face an economic crisis, resulting in increased crime rates and mortality.”

Sada Soli (APC, Katsina) raised a point of order, noting that a joint committee of the National Assembly is already reviewing the entire downstream sector and the subsidy regime.

However, this was met with opposition from the minority bench, who attempted to shout Mr Soli down.

Speaking in support of the motion, the Minority Whip, Isa Ali (PDP, Gombe), argued that petrol prices impact all sectors of the economy, particularly inflation.

“The people are suffering due to the fuel price increase. The government should allow the people to breathe and should not remove the little oxygen cylinder giving Nigerians relief.

“The government should listen to the cries of the people and take steps to review any policy that negatively affects Nigerians. Those who signed this motion believe that Nigerians are suffering,” he said.

In his contribution, Yusuf Gagdi (APC, Plateau) pointed out that deregulation of the downstream sector is a product of the Petroleum Industry Act (PIA) and cautioned against playing politics with the price of petrol.

However, Mr Chinda countered this, stating that “laws are made for man, not man for laws.” He emphasised that the intention behind the PIA was not to allow unchecked price hikes for petrol.

Kingsley Chinda (PDP), Member Representing Obio/Akpor Federal Constituency, Rivers State
Kingsley Chinda (PDP), Member Representing Obio/Akpor Federal Constituency, Rivers State
“We yearn for deregulation, but how do we implement it without negatively affecting the people? We must consider Nigerians in the process of implementing such laws.”

Prayers of the Motion

The motion urged the federal government to reverse the recent pump price hikes and take immediate steps to stabilise petrol and cooking gas prices through targeted interventions, such as temporary price relief measures, tax reductions, or subsidies for low-income households.

It also called on the Nigerian National Petroleum Corporation (NNPC), the Ministry of Petroleum Resources, and other relevant agencies to expedite the repair and maintenance of domestic refineries and increase local refining capacity to reduce reliance on imported refined petroleum products.

Additionally, the motion urged the Central Bank of Nigeria (CBN) to implement monetary policies to mitigate the adverse effects of fuel price hikes on inflation, particularly concerning essential goods and services.

The motion further called on the federal government to explore alternative energy sources and diversify the country’s energy mix, promoting sustainable and affordable renewable energy solutions.

State governments were also encouraged to adopt policies that alleviate the financial burden on citizens, such as waiving taxes or levies on transportation and goods affected by high fuel costs.

Lastly, the House Committees on Petroleum Downstream and Legislative Compliance were mandated to ensure compliance and report back to the House within two weeks for further legislative action.

Debates over the Prayers

There was a prolonged debate over the prayers in the motion, with the ruling APC lawmakers calling for amendments to allow the Joint Committee to review some of the issues raised.

Olumide Osoba (APC, Ogun) and Patrick Umoh (APC, Akwa-Ibom) argued that the motion should be referred to the Joint Committee.

The opposition strongly opposed this, arguing that some matters required urgent action.

Speaker Abbas Tajudeen intervened, appealing to the opposition to allow the motion to be referred to the Joint Committee and assuring them that the committee would consider the issues raised.

Reluctantly, Mr Chinda moved the amendment, which was seconded by Abdussamad Dasuki (PDP, Sokoto).
The motion was subsequently passed as amended.


Procedural Flaws

Once again, the House failed to properly address amendments during the debate. Although the amendment to refer the motion to the Joint Committee was adopted, they did not explicitly state that “other prayers” should be deleted.

This is not the first time the House has made this procedural error, later blaming the media for “erroneous reporting.”

In July, during the debate on the Samoa Agreement, the House made a similar mistake by amending prayers in a motion without deleting existing prayers. The House Spokesperson, Akin Rotimi, later issued a disclaimer stating that the House did not “ask the government to suspend the agreement.”

Recently, during consideration of the motion on the GCON, the House repeated this blunder and again blamed the media for “erroneous reporting.”

By Saawua Terzungwe


Senator representing Kano South, Kawu Sumaila, has accused politicians of fueling illicit drugs by youths, a development he said has assumed a dangerous dimension.

Sumaila flayed his colleagues while contributing to a debate on a bill sponsored by Senator Rufai Hanga (Kano Central), titled, “A bill for an act to establish national institute for drug awareness and rehabilitation 2024”, during plenary on Tuesday.

Leading the debate on the general principles of the bill, Senator Hanga said the institute, if established, would coordinate and promote drug awareness, prevent substance abuse and facilitate the rehabilitation of drug users.

But while contributing, Senator Sumaila said the institute would not help the situation until politicians change their way of doing things.

The Kano Senator suggested that to get rid of drug abuse and peddling, all politicians seeking elective offices must be made to undergo drug test.

The lawmaker challenged politicians including his colleagues at the Senate to swear with the Qur’an or Holy Bible, that they were not culpable.

He said, “What do we do during our campaigns? I will suggest that those who seek elective offices undergo a drug test. Some of our political leaders are into drug abuse. Let’s go through the test and see who is who.”
Sumaila was however, ruled out of order by the Deputy Senate President, Barau I. Jibrin, who presided over the session.
Barau said his contribution was not relevant to the subject of the debate.

After contributions by senators Adams Oshiomhole (APC, Edo North), Adamu Aliero (Kebbi Central), Abdul Ningi (PDP, Bauchi Central), Salihu Mustapha (APC, Kwara Central), Seriake Dickson (PDP, Bayelsa West) and many others, the bill scaled second reading.

The bill was referred to the Senate committee on drugs and narcotics for further legislative action. Senator Barau gave the committee four weeks within which to report back to the committee of the whole.

Ibrahim Manga, acting national publicity secretary of the Peoples Democratic Party (PDP), says Siminalayi Fubara, governor of Rivers, rejected the offer to control the state’s political structure.

Speaking with the Nigerian Tribune on Sunday, Manga recounted that the PDP’s national working committee (NWC) approached Fubara to nominate a candidate to fill the vacant position of the party’s chairmanship in Rivers.

He said Fubara turned down the opportunity to nominate someone for the position, insisting that Nyesom Wike, his predecessor, should choose a nominee.

Fubara and Wike, minister of the federal capital territory (FCT), have been at loggerheads over control of the state’s political structure.

The conflict has led to a polarisation of the Rivers state house of assembly.

The PDD spokesperson said the party had done everything to support Fubara, noting that the governor failed to rally the national working committee (NWC) and fellow governors to his side.

“The kind of opportunity given to Fubara by this party is the sort that you never imagine exists from any political party to any of its members, not a governor, not a president,” Manga said.

“It is the sort that you would not believe any member will enjoy, any person no matter his status, whether in former president.

“If I start talking now, I’ll dig out what we have been keeping in the cooler—the opportunities, the chances, the repeated chances given to this governor for him to take the leadership and take control of the structure.

“He was the first person that came to meet this NWC when they requested the replacement of the state’s chairman of the PDP.

“He said, ‘No, no, no’, nobody should call him that they should call ‘oga in Abuja; let oga give the person; anyone oga’ gives he is comfortable.

“This was the beginning of the whole of this problem. He was the one who said he cannot take decisions when Nyesom Wike is still alive.

“That was before the relationship went sour. So, at what point did you now stop recognising him as your boss, that you start taking all of those decisions?”

‘FUBARA, BALA MOHAMMED MAY FACE DISCIPLINARY ACTIONS’

The PDP spokesman hinted that Fubara and Bala Mohammed, the governor of Bauchi, may face disciplinary actions for alleged anti-party activities in the Rivers LGA elections.

“That is a clear anti-party on the part of the governor, and we will wait for him with that himself,” Manga said.

“The governor that went to identify with him during the inauguration of the elected officials himself, the chairman of the governors’ forum, will be accused of anti-party.

“And this is why we are always careful to, you know, apply the sledgehammer on the heads of all of those persons accused of identifying with this thing called anti-party.

“Because you would soon realise that you have finished all the members of the party, and you are leaving nobody behind. Everybody has one action or the other that can constitute what is anti-party in the face of law.

“So, in the running party…because he went there, they were inaugurated, none of them was PDP local government chairman, none of the 21 of them.

“But the chairman of the PDP Governors’ Forum went there, gave his blessing for a sitting PDP governor to inaugurate the opposition party, and then they were all joyful and in a festive mood.

“How will you now say you are serving PDP with this action alone?”

The Chairman of Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has said the Committee is coming up with reforms to ensure that Nigerians who are supposed to pay tax fulfill that obligation as the tax gap stands at about 75 per cent.

He also stated that the government was working to ensure that personal income tax reduces for Nigerians earning below N1.5million monthly after the Economic Stabilization Bill is passed, stating, however, that “the rich people earning N1.5 million above will see their personal income tax rise by up to 25 per cent.”

Oyedele made the disclosure while commenting as a panelist at the ongoing 30th Nigeria Economic Summit #NES30 with the theme “Fiscal and Monetary Policy Reforms: Removing Barriers to Private Sector Investment.”

According to him, a survey conducted by NESG shows that “Only 17 per cent Nigerians pay taxes as well as 30 per cent of businesses and one of the reasons is because they don’t trust government. Therefore what we want to do is to have a National portal just like South Africa where tax payment is seamless and transparent because or current tax gap is about 70-75 per cent but if we correct that and everyone pays, our revenues will be 4 times.


“Another issue about is policy gaps where we grant unnecessary waivers to some people who dont even deserve it. But the main issue remains compliance issue,”

On the incentives for businesses, Oyedele stated “That currently before the national assembly is a policy document that is targeted at reducing tax burden on businesses and once our reforms are implemented, corporate income tax rate will reduce from 30 to 25 per cent we are hopeful it comes on board in January 2025.”

He added that the lowest hanging fruits that his Committee wants to tackle is removing disincentives as contained in the Economic Stabilization Bill which is currently in the National Assembly, adding that the document has also harmonized over 60 official taxes being paid by Nigerians.

On what the monetary side is doing, the acting director, banking supervision at the Central Bank of Nigeria, Dr. Adetona Adedeji, CBN, noted that one of the innovations introduced by the Bank is to ensure a robust risk management system.

“We want a situation every bank will put in place a cyber security management mechanism to boost investor confidence and trust. While on the other side we are accelerating our inflation targeting to ensure price we have been doing a lot and what we are doing now is Inflation targeting to ensure we get price stability because without price stability we won’t achieve it. We won’t leave any step to reign.”

The Super Eagles of Nigeria are making their way back to Nigeria from Libya 48 hours earlier than expected. This is as a result of the hostile reception the first-class players who are sought after in Europe and across the world faced in the North African country.

Daily Trust had reported how the Nigerian stars were stranded in Libya for over 16 hours after their flight was diverted one hour to landing at their initial destination.

Following Nigeria’s defeat of Libya in Uyo, Akwa Ibom State, on Friday, a return leg for the ongoing AFCON 2025 Qualifier was fixed for Benghazi, Libya, on Tuesday.

Ahead of the return leg, the Nigerian team was expected to land at Benina International Airport from where they were to connect Benghazi, host city of the game, but instead the chartered flight, which conveyed them was diverted to Al Abaq International airport, which is only used for hajj operations. Strangely, Libyan Football Federation (LFF) officials were not on ground to receive the players and officials in line with established protocol. Hence, Nigerian Football Federation (NFF) made arrangements for the trip by road to Benghazi, but the officials at the airport reportedly denied access to the bus, leaving the players and officials stranded.

The officials probably felt they had the situation under control, but when the reality dawned, pictures and videos started flowing from the camp of Super Eagles. In a 46 seconds clip released by NFF TV, Nigerian officials were seen engaging the airport staff in discussions on how to resolve the imbroglio. Players were also seen in circles, with their countenance showing they were worn out and needed rest.

Shockingly, the Nigerian team was left stranded at the airport all through the night, with emotions running high among fans and Nigerian officials back home.

NO FOOD, NO WIFI

Commenting on the ordeal, Super Eagles striker, Victor Boniface, tweeted, “Been at the airport for almost 13 hours no food no wifi no where to sleep . African we can do better @caf.”

The NFF subsequently issued a statement to inform Nigerians about the latest development, announcing that the players had resolved not to go ahead with the match.

“The delegation of Nigeria to Tuesday’s 2025 AFCON qualifier against Libya still remained at the Al Abraq Airport 12 hours after landing in Libya.

“The chartered ValueJet aircraft was, strangely and in a dangerous manner, diverted to the small airport away from Benghazi just as the pilot was completing his approach to the Benghazi Airport. We understand the Al Abraq International Airport is only used for hajj operations.

“Fatigued players and officials have remained nonplussed as the host Libyan Football Federation failed to send any reception team or even vehicles to take the delegation members from the airport to their hotel, said to be 3 hours away in Benghazi. The NFF made arrangements for separate vehicles for the team, but the plan was unhinged by the diversion of the aircraft.

“Players have resolved not to play the match any longer as NFF officials are making plans to fly the team back home.”


LIBYA DENIES WRONGDOING

But expressing regret over the situation, the Libya Football Federation (LFF) said it was incorrect to say there is a deliberate attempt to frustrate the Nigerian team.

The Libyan FA said their players also faced the same situation while in Nigeria for the first leg but didn’t make accusations.

“While we regret any inconvenience caused, it is essential to note that such incidents can occur due to routine air traffic control protocols, security checks, or logistical challenges that affect international air travel.

“These are standard procedures at airports worldwide, and delays or rerouting, though unfortunate, are not uncommon. We have the utmost respect for our Nigerian counterparts and want to reassure them that the diversion of their flight was not intentional.

“There are no grounds to accuse the Libyan security teams or the Libyan Football Federation of deliberately orchestrating this incident. Such actions are inconsistent with our values and principles,” LFF said in a statement.

However, an earlier tweet by @Libyatoday24, a handle which focuses on authentic information about the North African country, showed that the Nigerian team was deliberately frustrated.

“In accordance with the principle of reciprocity, the appointed government has redirected the Nigerian national team’s flight to land at Al Abraq Airport in Al Bayda, instead of Benina Airport. They will then travel by bus to Benghazi,” read the tweet, which was posted on Sunday night.


BEGINING OF THE DRAMA

Ahead of the trip to Nigeria, the NFF had made preparations for the Libyan team at the Godswill Akpabio International Stadium, Uyo, same city that hosted Nigeria’s match against Libya. But for reasons best known to the Libyan contingent, they touched down at Port Harcourt International Airport, and made a road trip to Uyo. The team reportedly rejected the offer to make bus arrangement for them.

Libya captain, Faisal Al-Badri, claimed that the team was treated badly in Nigeria ahead of the Super Eagles’ 1-0 win, and called for ‘reciprocity’.

But speaking on News Central, the Nigeria Football Federation’s director of communications, Ademola Olajire, disclosed that the Mediterranean Knights of Libya kept their travel plans from Nigerian authorities, claiming they had prepared for their arrival in Uyo.

“We assumed correctly that the team would be landing in Uyo because the Benin Republic team that came last month landed in Uyo. It was an hour after they had been airborne and due to land in three hours, we were told that they were going to land in Port Harcourt.

“We had buses, logistics and other things planned waiting at the Victor Attah Airport in Uyo,” he said.

Olajire disclosed that the NFF secured approval for the visitors to fly from Port Harcourt to Uyo, but they opted out.

“We asked them what happened, you landed in Uyo? They told us they only had a landing permission in Port Harcourt. ‘You should have told us’. They didn’t do that,” he added.

“We looked at the possibility of difficulty they would face if they have to travel by road from Port Harcourt to Uyo. So, we moved mountains and valleys to ensure that they fly from Port Harcourt to Uyo.

“But apparently aware that they would be extra cost, they opted out of it. They didn’t want to pay extra expenses from the charter company. So, they opted to travel by road. We secure them buses but they


CAF TALKS TOUGH

The Confederation OF African Football (CAF) has vowed to investigate the incident and take appropriate action.

In a statement, it said, “CAF has been in contact with the Libyan and Nigerian authorities after it had been informed that the Nigerian National Football Team (‘’Super Eagles’’) and their technical team were stranded in disturbing conditions for several hours at an airport that they were allegedly instructed to land by the Libyan authorities.

“The matter has been referred to the CAF Disciplinary Board for investigation and appropriate action will be taken against those who violated the CAF Statutes and Regulations.”

A Federal High Court sitting in Abuja has ordered the Central Bank of Nigeria (CBN) to pay N579 billion to Kasmal International Services, a Nigerian private firm, for stamp duty collection services rendered.

Kasmal rendered the collection services to the apex bank between January 1, 2015 and January 31, 2020.

During the hearing, it was established that the firm was hired by the Nigerian Postal Service (NIPOST) to collect a N50 fee on all receipts issued by banks or financial institutions for services related to electronic transfers and teller deposits of N1,000 and above.

It was also agreed by both parties that N7.5 would be paid to the private firm for every N50 deduction made from electronic transactions consummated by bank customers.

The percentage remuneration was, however, not fully paid to the private firm as agreed.

Court documents reflected that N3.8 trillion currently stands in the Stamp Duty Collection Account. It was also established that the money was to be distributed among the federal government, state governments, local governments, the Federal Inland Revenue Service (FIRS), Coordinating Consultants, and other bodies.

In its objection to the suit, the CBN and the Attorney General of the Federation (AGF) described the agency contract the firm had with NIPOST illegal.

The defendants went on to argue that only the federal, state and local governments were entitled to sharing the revenue in the federation account.

While delivering his judgement on Friday, Justice Inyang Ekwo, the presiding judge, his judgment, said the submission of the defendants that NIPOST lacked the statutory power to collect stamp duties “did not hold water”.

In the end, the judge ordered the CBN to pay over N579 billion with associated interest within the stipulated period to Kasmal International Services.

The latest figures from the official pricing template have indicated that the pump price of locally produced premium motor spirit, PMS, otherwise called petrol, is now being matched with the price of imported products.

But petroleum marketers are hinting that such a match would not be sustainable if exchange rates for both locally produced and imported products are left to market forces.

Vanguard findings from the costing template managed by the Nigerian National Petroleum Company Limited, NNPCL, show the landing cost for imported PMS has been raised by 4 per cent to N956.13 per litre in October 2024, from N919.55 in September 2024.

The increase is mainly driven by the differential in the value of the Naira to the United States of American dollar, where N1, 625/$ was used for September while N1, 645/$ was used for October.

An updated transactional analysis of the pricing template obtained by Vanguard, yesterday, put the total direct cost, including product cost at N887.45 per litre, Freight (Lome-Lagos) N10.37, port charges N7.37, Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA Levy N4.47, storage cost N2.58 to arrive at N913.12 per litre for total direct cost.

The total direct cost was added to the finance cost, including a letter of credit (N16.53) and total interest (N43.01) which raised the landing cost of the product to N956.13 per litre.

In addition to this haulage cost and marketers’ margin along with other unspecified costs have pushed the average pump price to be around N1,000 per litre.

Consequently, while the average pump price in NNPCL petrol stations and major marketers is around N1,000 per litre, most independent marketers in the Lagos area sell between N1,005 and N1,020 per litre, contrary to the officially recommended pump price of N998/litre.

However, many marketers who spoke to Vanguard believe that the existing price differences are not too wide.

But they also hinted that a significant change in the exchange rate would upset the balance significantly.

They also called for more openness and competitiveness in the market across all segments of the operators to create an even playing field.


We expect competition in the domestic market — operators

With the downstream sector’s deregulation, marketers said they look forward to healthy competition in Nigeria’s domestic market.

In an interview with Vanguard, yesterday, the Chairman of the Lagos State chapter of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Mr. Joseph Ehimen, said: “The next step now is to allow others to compete in the open market, bring in the products (local or international), and entrepreneurs can build more modular refineries.

“If the government likes, let them put for sell the nation’s four refineries or make them functional to compete with Dangote Petroleum Refinery.”

Similarly, the Independent Petroleum Marketers Association of Nigeria, IPMAN, said, with the deregulation of the downstream sector, its members can now buy petrol from both domestic and international markets.
The Public Relations Officer, IPMAN, Chief Chinedu Ukadike said marketers would source their products from ‘wherever they feel is cheaper and will make them competitive’.


Marketers are now free to buy from Dangote — Edun

Meanwhile, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, said all marketers can now buy products directly from the Dangote Refinery in Lagos.

This ends the arrangement in which the Nigerian National Petroleum Company Limited (NNPCL) was acting as sole off-taker of the Dangote Refinery products.

In a statement yesterday, Edun said, “Following the directive of the Federal Executive Council (FEC) and the implementation of the new Naira-based sales mechanism, the Implementation Committee on the Sales of Crude Oil and Refined Products in Naira, chaired by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun held its second review meeting on Wednesday, October 10, 2024.

“The meeting focused on assessing the transition towards a deregulated market structure for Premium Motor Spirit (PMS) and addressing the change in the purchasing model for petroleum product marketers.

“New Direct Purchase Model: The most significant change under the new regime is that petroleum product marketers can now purchase PMS directly from local refineries. This marks a departure from the previous arrangement where the Nigerian National Petroleum Corporation (NNPCL) served as the sole purchaser and distributor of PMS from the refineries.

“This direct purchasing mechanism allows marketers to negotiate commercial terms directly with the refineries, fostering a more competitive market environment and enabling a smoother supply chain for petroleum products.

“Local Production of PMS: With the commencement of local PMS production, the market is better equipped to support these direct transactions. This transition is expected to enhance efficiency in product availability and stabilize market conditions for the benefit of all Nigerians.

“The Committee recognizes that there are questions and discussions regarding this change in the market structure. We are committed to providing clarity on this development and will continue to engage with stakeholders to ensure a seamless transition process.”

He described the direct purchase of PMS by petroleum product marketers as a new era of growth and development for Nigeria’s petroleum industry.

Reacting to this statement, the Managing Director, 11 Plc (formerly Mobil Oil Nigeria Plc), Mr Adetunji Oyebanji, said: “The price of PMS has finally been deregulated, and subsidy has finally been eliminated. Henceforth, the price of PMS will be determined by market dynamics. This is inevitable as the government could no longer bear the burden of the subsidy.

“A good measure the government has taken to address the development is selling crude oil to local refineries in Naira at a fixed exchange rate. This will protect consumers from the negative impact of the fluctuations in exchange rates.

‘‘The fact that the crude will be refined in local refineries will also save the cost of transporting crude to offshore refineries and transporting refined products back to Nigeria.

“Without these two factors, prices would have been higher. Another thing will be that the incentive to smuggle petrol from Nigeria to our neighbouring countries will be greatly reduced’’.

However, he added, ‘‘Henceforth, prices can change at any time, depending on market dynamics.”

The Federal Government of Nigeria has generated N103.7bn in revenue from the Electronic Money Transfer Levies in the first half of 2024.

According to data from the Central Bank of Nigeria’s statistical bulletin, this represents a 7.55 per cent increase compared to the N96.44bn collected during the same period in 2023 of last year.

This figure shows the growing use of digital payment platforms and a higher volume of electronic transactions as more Nigerians and businesses embrace digital banking solutions.

Electronic money transfer levy was introduced as a source of government revenue in the Finance Act 2020, which amended the Stamp Duty Act to tap into the growth of electronic funds transfer in Nigeria.

The EMT levy is a singular and one-off charge of N50 on electronic receipt or transfer of money deposited in any deposit money bank or financial institution on any type of account on sums of N10,000 or more.

In January 2024, the revenue from EMTL stood at N18.60bn, reflecting a 26.57 per cent decrease compared to N25.33bn in the same period of last year.

However, February 2024 showed a 20.21 per cent increase, with collections rising to N16.59bn from N13.80bn in February 2023.

March 2024 also experienced growth, recording N18.60bn, up by 53.41 per cent from N12.13bn in March 2023.

The revenue in April 2024 was N15.37bn, which was a marginal 1.85 per cent increase compared to N15.09bn collected in April 2023.

May 2024 saw a more substantial year-on-year increase, with earnings reaching N18.78bn, 24.24 per cent higher than the N15.12bn collected in May 2023.

Although June 2024 saw a slight dip compared to May, with N15.78bn collected, it still marked a 5.40 per cent increase from the N14.97bn recorded in the same period of last year.

The PUNCH had earlier reported that e-payment transactions in the country jumped by 86.44 per cent to N566.39tn in the first half of 2024 from N303.60tn in the same period of last year, according to data from the Nigeria Inter-Bank Settlement System.

The NIP, launched in 2011 by NIBSS, is an online real-time interbank payment platform that enables instant value transfers.

Banks have since made the NIP platform accessible to customers through various channels, such as internet banking, mobile apps, USSD, ATMs, POS, and bank branches.

The surge in e-payment transactions was linked to the increasing adoption of digital payment platforms by businesses and individuals, driven by convenience and efficiency in financial transactions.

Last year, electronic payment transactions in the country hit an all-time high, rising by 55 per cent to N600tn, compared to N387tn in 2022.

However, as telecom operators in Africa increasingly invest in the mobile money sector, they confront a major fraud crisis, prompting calls for improved security measures.

According to the Global System for Mobile Communications Association’s “State of the Industry Report on Mobile Money 2023”, mobile money fraud in Africa exceeded $1bn, raising concerns that security issues could impede the adoption of mobile money services

President Bola Ahmed Tinubu has departed the United Kingdom for Paris, France, where he is expected to attend an “important engagement”.

This was disclosed by his Senior Special Assistant on Political and other matters, Ibrahim Kabir Masari.

Tweeting via his verified handle, @KabirIbrah64, Masari said he had the honor of visiting President Tinubu at his private residence in the UK, where they engaged in productive discussions before he departed for Paris.

“Today, I had the honor of visiting President Asiwaju Bola Ahmed Tinubu GCFR at his private residence in the United Kingdom, where we engaged in productive discussions. We then departed for Paris, France, for another important engagement”, Masari said.

However, details of the engagement were not made public.

President Tinubu departed Nigeria on Wednesday, October 2, for a two-week working vacation in the UK, as part of his annual leave.

Recall that Special Adviser to the President on Information and Strategy, Bayo Onanuga, in a statement on October 2, announced Tinubu’s departure for the two-week vacation

“President Bola Ahmed Tinubu will depart Abuja today for the United Kingdom to begin a two-week vacation, part of his yearly leave.

“He will use the two weeks as a working vacation and a retreat to reflect on his administration’s economic reforms.” Onanuga had said.

By Chibuike Chukwu


It was a show of disappointment as a public lecture scheduled to make public the achievements of President Bola Ahmed Tinubu in his quest to revive the ailing economy in his 500 days in office, was shunned by the All Progressives Congress (APC) chieftains, including the Chief of Staff to the President, Hon. Femi Gbajabiamila.

A report by Efe Aghalokope said the public lecture, organised by Mr. Davies Abdulrafiu, the chairman/publisher of the Tinubu Progressive Grassroots Initiative for Sustainable Governance (TPGISG) Magazine, was expected to draw dignitaries of the ruling party, especially from Lagos and beyond to Surulere in Lagos but failed to live up to expectation.

The programme which took place on Thursday at the Surulere Local Government secretariat, off Masha Close, Surulere, Lagos State, was to enlighten the public on the eight-point agenda of the Tinubu administration towards fixing the Nigerian economy.

It was optimistically expected that the Chief of Staff to the President, Gbajabiamila, would give a keynote address on the eight point agenda on ‘A Renewed Hope Towards Fixing Nigeria Economy’ but he also failed to honour the invitation.

The bewildered executive chairman of Surulere Local Government Area, Hon. Bamidele Yusuf, the host, also expressed his disappointment as none of the dignitaries who were invited showed up and he could not speak on their behalf.

Although the latest petrol pump price hike by the Nigerian National Petroleum Company (NNPC) Limited is seen as a step towards the full deregulation of the downstream sector, the huge subsidy payments and its sole-distributor role have become a significant burden on the national oil firm, insiders have told TheCable.

The Dangote refinery officially began petrol production on September 3 with plans to sell only to the NNPC.

After more than a week, petrol lifting from the refinery began on September 15, arriving at the pump stands to the delight of Nigerians who desire an end to Nigeria’s chronic petrol importation — with eyes on cheaper pump prices.

An insider said the delay in lifting petrol — also called premium motor spirit (PMS) — owed to logistics challenges, noting that the supply from the refinery also fell below expectations.

“While the PMS discharge from the station may have sliced off a portion of the country’s fuel import requirements, it was still a far cry from expectation as the refinery only delivered 102,973,025 litres, out of the 400 million it pledged to supply within the period,” the insider told TheCable.

It is understood that the volume provided by the Dangote refinery within 15 days “was barely enough for the amount required for only two days”.

“The Nigeria National Petroleum Company (NNPC) had to cough out nearly N13 billion for Nigerians to buy the commodity at the price they did in the second half of September,” the source said.

Evacuation analysis seen by TheCable shows that about 2,207 trucks were used by the national oil firm and other marketers to lift PMS from the facility between September 15 and September 30.

OIL PRICE, FX VOLATILITY

The unit price per litre tumbled with the prevailing foreign exchange (FX) rate, resulting in a change in the price of the commodity about six times within the 15 days under scrutiny.

“The NNPC, as the sole off-taker of the product, paid between $746 per metric tonne when the lifting started picking up to $759.40 and sliding down to $714.15 per metric tonne by the end of September,” the insider explained.

He said the naira price oscillated between N882.18 and N960.85 per litre — depending on the purchase and FX rates on the days of each transaction.

The insider said a day before the announcement of truck mobilisation, the NNPC’s first consignment signed off on September 14 was received at N882.18 per litre using the FX of N1,546.41 per dollar.

By September 18, according to the source, the product price and FX rate increased to $759.1 and N1,656.49/$, respectively.

“This sharply affected the product price in naira to N960.85,” he said.

“However, by September 20, the product price slimmed along with the FX rate which dropped to N1,544.02, bringing the PMS price to N893.35. Though the product price from the refinery had come down to $714.15 by the end of the month, the worsening of the FX rate to N1,657.42 made the PMS price close at N937.30.

“To maintain stability at the pump price, the NNPC Trading sold the product to its retail company and other marketers at a fixed price of N749.99 throughout the period.

“With this, the company topped up an average of N133 per litre for every litre bought from the refinery. This came to over N12.5 billion for what a senior official called a ‘paltry 103 million litres’.”


‘UNBEARABLE BURDEN’

On October 7, reports of NNPC’s decision to quit its sole off-taker role with the Dangote refinery circulated.

Insiders told TheCable that the middleman role played by the national oil firm in distributing the PMS has caused it an “unbearable burden”.

This comes as NNPC struggles to clear a $6 billion debt owed to international fuel suppliers. The company has been dealing with serious financial strains, a situation that continues to threaten petrol supply.

In a recent interview with Bloomberg, Aliko Dangote, chairman of Dangote Industries Limited (DIL), had asked the federal government to stop subsidy payments, which he described as unsustainable.

Sources said due to this, the NNPC will be forced to relinquish its role as the sole supplier and allow other marketers to access the product directly from the Dangote refinery at the prevailing market price — an outcome the federal government had tried to prevent.

On September 14, the federal government had said the refinery would sell petrol only to the NNPC, adding that interested marketers would have to buy the product from the national oil firm.

The house of representatives had frowned on this arrangement, asking the federal government, on September 26, to allow independent marketers to buy petrol directly from the plant.

The insiders believe that with NNPC quitting as the sole distributor, fuel prices will likely jump at the pumps nationwide, as an augmented amount will now be passed to the consumers.

“The prices are however expected to stabilise in coming days as freeing up of the market would induce competition and potentially stabilising supply chains,” another source said.

By Seun Adeuyi


Before President Bola Ahmed Tinubu took over on May 29, 2023, fuel sold at N198 per litre. Outlets of the Nigerian National Petroleum Corporation Ltd (NNPCL) which now have different prices, depending on the location, also sold at the old rate.

However, in his inaugural address at Eagle Square, Abuja, Tinubu exclaimed “Subsidy is gone”, resulting in an instant increase in fuel price from N198 to N540 at NNPC outlets.

According to the president, fuel subsidy had become a clog in the wheel of progress and needed to give way for the country to survive. Tinubu, who said subsidy was fueling corruption, vowed to pump the money saved from it into others aspects of the economy.

“You have paid attention to the subsidy removal. Why should we in good heart and sense, feed smugglers and be Father Christmas to neighbouring countries, even though they say not every day is Christmas? The elephant that was going to bring Nigeria to its knees is the subsidy. A country that cannot pay salaries and we say we have potential to encourage ourselves. I think we did the right thing,” Tinubu had told some monarchs who visited him at Aso Rock a month after subsidy removal.


FRESH INCREASE IN LESS THAN 2 MONTHS

On July 18, 2023, the pump price at NNPCL outlets rose from N540 to N617 per litre. This was when Nigerians were still trying to adjust the cost of living crisis occasioned by the increment. The Group Chief Executive Officer of NNPCL, Mele Kyari, had attributed the rise in pump prices to market forces.

According to him, the hike reflected the dynamics of a market-regulated pricing model.

Addressing journalists after a closed-door meeting with Vice President Kashim Shettima at the State House, Abuja, Kyari said, “They are just prices depending on the market realities. This is the meaning of making sure that the market regulates itself. Prices will go up and sometimes they will come down also.”

He debunked notions that the price increase was due to a shortfall in petrol supply.


13 MONTHS’ BREAK

Amid protracted fuel queues, NNPCL attributed fuel shortage to supply disruptions caused by outstanding debt obligations to international oil traders. The corporation did not disclose the exact amount owed to oil traders, but reports said the debt was to the tune of $6.8 billion. Before acknowledging being indebted, the oil firm had repeatedly told Nigerians that things were under control. However, the queue worsened and prices were inflated. In a statement on September 1, 2024, Olufemi Soneye, NNPC spokesperson, said the corporation’s ability to sustain fuel supply was under threat.

Experts had, however, told Daily Trust that the announcement was part of a game plan from the government, which may lead to 950/1,000 per litre price for petrol. They alleged that government officials had been pushing the narrative for weeks.

On September 3, 2024 NNPCL increased hiked pump price from N617 per litre to N897 per litre, an increase of over 45 percent.

FUEL PRICE HIKE NECESSARY – TINUBU

Addressing members of Nigerians in Diaspora Organization in China (NIDO China) and the Nigerian community at the China World Hotel, Tinubu had described the increment as one of the unprecedented steps aimed at reforming the country.

According to him: “Nigeria is going through reforms, and we are taking very bold and unprecedented decisions. For example, you might have been hearing from home in the last few days about fuel prices. But, can we help it? Can we develop good roads like you have here? You see electricity being constant in quantity and quality. You see water supply, constant and running, and you see their good schools. And we say we want to hand over a banner without stain to our children? What is the critical part to get us there if we cannot take hard decisions to pave the way for a country that is blessed and so talented?

WHERE WE ARE CURRENTLY

Due to the proximity of the refinery to Lagos, fuel is sold at N998 per lite over there
24 hours after Daily Trust reported a likely pump price increase as a result of NNPCL’s exit as a middleman in the Dangote Refinery fuel purchase deal, NNPC increased pump price from N898 to N1,030 per litre, Previously, the NNPCL was the sole off-taker of fuel from Dangote Refinery. In the cause of doing this, the national oil company covered the price gap between the facility’s price and the selling price to retailers, absorbing a subsidy of N133 per litre. But in the quest to shift towards a fully deregulated oil market, it allowed marketers to deal directly with the refinery.

Marketers can now negotiate petrol prices directly under a “willing buyer, willing seller” arrangement, aligning with practices for other deregulated products such as diesel and kerosene.


WHAT NIGERIANS ARE SAYING ON SOCIAL MEDIA

Below are some of the reactions of Nigerians to the recent fuel price hike:

On X, @rolandjick267: “How do we survive? This is becoming too much.”

@Sthabbey: “This situation is becoming unacceptable. Nigerians deserve respect from @officialABAT and his administration. This is unwarranted, and our patience has been stretched to its limit.”

@qudus_kalas: “At this point they should just throw atomic bomb 💣 in the country make every body kuku kpai once and for all”

@Abubakar_tatari: “It’s getting out of hand , no sympathy for the masses . This regime is just heartless.”

@Chambez84: “Thank you Mr President for us. we like the suffering and I am happy about it. please suffer us more Nigerian love you.. I am suggesting for Nnpc to sell the fuel at 5000 per liter it will strengthen our economy.”

@El_khaleel: “Tinubu just take the price that you want it to be we tired with this your policies yesterday price is not todays price 🥹🥹.”

@khalifakila: “Nigerians are very patient people wallahi. This can’t happen in other countries. Just wake up one morning and add price of PMS and life goes on.”

@Sirpascal: “Instead of Nigerians to benefit from dangote refinery , they’re paying more for fuel , even though crude is sold in Naira to him … Nigeria is not a place for the living ..”

On Facebook, Abdullahi Bala Muhammad said: “The president should call them to order because what they are doing these days is getting out of hand’s in fact they are pushing poor Nigerians to the wall and if they pushed back the things won’t be good to the government.”

Nurabros Ahmed: “Well let’s president Tinubu Knows that all this things that he is Rulling people with hardship suffernes day will come he will be Accountable to the Almighty Allah.”

By Tijani Labaran


A housewife, identified as Barkisu Sulaiman, has been arrested at Karaworo-Lokoja by the residents of the area for reportedly throwing her newly born baby into a gutter.

City and Crime gathered that the woman was arrested following a tip-off by a woman in Kabawa area of Lokoja who was said to be her close confidant.

“Touched by the condition of the abandoned baby, her friend ran to an elderly man in Karaworo-Lokoja and confessed the crime of her friend (Barkisu) to him.

“She told the elderly man that her friend (Barkisu) once told her that she was carrying a seven months pregnancy for one of her sick husband’s servants, residing in Adankolo-Lokoja”, a resident of Karaworo-Lokoja, who spoke under condition of anonymity, said.

Unfortunately, she added that the alleged father of her friend’s baby, said to be at large, had rejected the pregnancy and advised her to abort it.

Against this backdrop, the locals were said to have moved against Barkisu and arrested her, and that she allegedly confessed that “she threw her one-day-old infant into the gutter because she cheated on her sick husband.”

The Kogi commandant of the Nigeria Security and Civil Defence Corps (NSCDC), Paul Igweibuke, confirmed the arrest of Barkisu, saying, “She is in our custody and investigation is in progress.

The Lagos State Government has clarified that the recent Federal High Court ruling in Abuja, which bars the Directorate of Vehicle Inspection Services from stopping vehicles, impounding them, or imposing fines on motorists, does not apply in Lagos.

The judgment, delivered on October 2, 2024, by Justice Evelyn Maha, stemmed from a fundamental rights enforcement suit filed by human rights activist and public interest attorney Abubakar Marshal.

Justice Maha, in the judgment, agreed with the applicant’s contentions that there was no legal basis for the VIO and its officials to stop, impound, or confiscate vehicles, or to levy fines against motorists.

However, in a statement issued on Tuesday, the Lagos State Commissioner for Transportation, Oluwaseun Osiyemi, emphasised that the ruling, delivered by Justice Maha in the fundamental rights enforcement suit FHC/ABJ/CS/1695/2023, is territorially limited to Abuja.

He explained that the court’s decision was based on the absence of a specific law in Abuja empowering the VIO to carry out such actions, noting that in Lagos State, the situation is different.

“It is important to note and be informed that, in law, a court has limits to its territorial jurisdiction, and in this case, the judgment is restricted to Abuja,” he said.

According to him, Lagos operates under the Transport Sector Reform Law of 2018, which establishes the duties and powers of the VIO in the state

The minister added that the decision was made during a recent meeting of airline operators.

Festus Keyamo, Minister of Aviation and Aerospace Development, says Nigerian airline operators have collectively decided to stop purchasing imported fuel.

The minister made the revelation when he appeared on a live broadcast of Channels TV on Tuesday, saying the decision was made by the aviation sector stakeholders to patronise locally refined products from Dangote Refinery.

The minister added that the decision was made during a recent meeting of airline operators.

This would mark a major shift towards self-sufficiency in Nigeria's aviation fuel supply. By opting for Dangote Refinery's products, the operators aim to bolster the local industry and reduce reliance on imported fuels.

“Incidentally, it also coincides at a point when Dangote Refinery is coming on, and they are about to start producing Jet A1 for our local industry. The airline operators of Nigeria recently met. And let me give you this expo, I am sure they have not released this to Nigerians,” the minister said in the broadcast monitored by SaharaReporters on Channels TV.

He continued: “They have made a clear decision, all of them. They no longer buy imported fuel to also support the local industry, the Dangote Refinery. This is the decision of the Airline Operation of Nigeria, with my push that they should be buying from Dangote Refinery.”

The Nigerian government had announced the commencement of naira transactions for crude oil as directed by President Bola Tinubu.

Petroleum marketers have revealed that they will be meeting with the Department of State Services, DSS, on Wednesday, 9 October, 2024 over the price of Premium Motor Spirit (petrol) and its availability.

The President of the Independent Petroleum Marketers Association of Nigeria disclosed this in an interview with DAILY POST on Monday.

Although he didn’t give details on the reason for the meeting, he however noted that it is about petrol pump price and its availability to oil marketers.

“Wednesday I have a meeting with the Department of State Services.

“It is about the petrol pump price. Anywhere IPMAN is involved it is about the issue of petrol and its availability to members,” he said.

When DAILY POST correspondent probed further on the details of the meeting, he said, “Until we go there, I will brief you after the meeting”.

This comes as Nigerians buy fuel between N950 and N1,200 or more across the country.

On Monday, it was reported that the Nigerian National Petroleum Company Limited quit its role as the sole off-taker of Dangote Petrol.

In September, Dangote Refinery began the distribution of petrol, the same day NNPCL increased petrol pump prices.

By Punch Editorial Board


PRESIDENT Bola Tinubu is close to reshuffling his cabinet 17 months after assuming office. The speculation in the public of a cabinet reshuffle had gained frequency for some time because of the perceived non-performance of some ministers. The Presidency has now confirmed the reshuffle.

The average performance of the Tinubu administration is largely foundational. It is a product of unfulfilled campaign promises and policy flip-flops. The President promised to “hit the ground running,” but it took him nearly three months to constitute his cabinet.

The administration started with the controversy generated by the “subsidy is gone” policy, yet no minister was on the ground to mitigate the crisis. Consequently, things stood still for the first three months of the government. Public perception of the government is still a product of that initial slip.

The President had promised a “cabinet of technocrats.” In the end, he unveiled a cabinet heavy on politicians. The outcome is the good, the bad, and the ugly profile of the cabinet.

When the President eventually constituted the cabinet, he established the policy coordination unit to drive performance and put the ministers on their toes, but Nigerians have yet to see the impact. Only a few demonstrated competence so far. Consequently, instead of corporate achievement of the Renewed Hope Agenda, the country witnessed flashes of achievements powered by individual capacities.

The first 16 months of this administration are therefore periods of missed opportunities. They must be doubly regained. This administration must go back to the drawing board, walk its talk, and implement strategies to get the next two and a half years right. The policy coordination unit must adopt progressive evaluation and not post-mortem analysis with appropriate timelines to make the desired impact.

Most areas of national life are beset by underfunding and dilapidated facilities, but a few ministers have been able to make a difference. Nigerians can feel the bold initiatives, programmes, projects, and innovations being undertaken by the ministers of the FCT, Interior, and Works. These are products of good and deep thinking powered by passion. Tinubu needs to seek more men of passion, vision, and innovation to man the other sectors.

Many ministers are operating below the average. It is indeed obvious that many of them cannot work without supervision. Some of the ministers need to be pushed to talk even about the little impact they have made.

The Petroleum Ministry which the President oversees is overwhelmed by crisis. Tinubu is too busy to combine this crucial ministry with his job. Oil earnings fund 90 per cent of the country’s budget. Tinubu should yield the ministry to a capable hand to lift the country out of the long-running economic crisis.

The composition of the present cabinet, 47 in all and the largest in the Fourth Republic is unwieldy and out of sync with the economy. The President should slash them to a manageable number. He should look for technocrats and a few politicians with sterling records to power his agenda.

Nigeria requires people with experience and excellent records who can think out of the box and function in this digital era. This is not the time to give critical ministries to allies and political cronies, especially those who retired decades ago and are out of tune with current economic realities.

Ordinarily, the composition of the cabinet should be done discreetly by the President working with a few trusted allies to avoid distraction and needless lobbying. The proposed reshuffle is unfortunately in the public space, but the President should eschew distractions and exhibit courage and conviction in choosing the most competent.

Amid opposition protests especially from Senate President Godswill Akpabio, the Peoples Democratic Party (PDP) has overwhelmingly won the local government elections across 30 of the 31 councils in Akwa Ibom State.

The Chairman of the Akwa Ibom State Independent Electoral Commission (AKISIEC), Elder Aniedi Ikoiwak, who declared the outcome of the Saturday:s contest on Sunday, said the ruling PDP won in all the councils except Essien Udim LGA, hometown of the Senate President, Godswill Akpabio, where the All Progressives Congress (APC) won.

However, Akpabio, who lamented the PDP’s sweeping victory, recalled that during his era as Governor (2007-2015), he never demonstrated high disregard and disdain for the opposition, as Governor Umo Eno expressed at the weekend’s LGA elections in the State.

“When I was the Governor of Akwa Ibom State (2007-2015), I conducted about two elections. I remember one occasion when I flew back into the state, and I was told that there was a crisis in the local government election and that the opposition had rejected the results.

“The then Chairman of AKISIEC, Gloria Ukpong, had told me stakeholders would accept the results. I said she should declare for the opposition, and the ANPP won the Championship position in Ini LGA and other councilorship positions,” he recalled.

Also, the House of Representatives member representing Ikono/Ini Federal Constituency on the Young Peoples Party (YPP) platform, Rt. Hon. Emmanuel Ukpong-Udo described the exercise and its outcome as “shambolic”, noting that it was deliberately designed to have a predetermined outcome for the PDP.

Therefore, he called on his YPP supporters to remain calm, warning against taking the laws into their hands in the face of what he described as polling corruption that characterised the contest.

Responding, his colleague in the Green Chamber, Rt. Hon. Uduak Odudoh, representing Ikot Abasi/Mkpat Enin/Eastern Obolo, Federal Constituency, dismissed the claims of rigging for the PDP in the just-concluded poll, explaining that while the PDP had sufficiently prepared and campaigned to woo voters, the opposition, especially the ruling APC at the centre, were asleep

By Daily Trust


The Federal Capital Territory Administration (FCTA) has issued a warning to 3,273 allottees to settle their outstanding payments for Certificates of Occupancy (C-of-O) within two weeks or risk revocation.

The allottees include prominent Nigerians and corporate organisations.

According to online newspaper, Premium Times, a two-week notice was issued by the administration to the affected plots located in the Maitama District of Abuja.

It cited infrastructural development within the district as the reason for the notice.

The notice read: “The Federal Capital Territory Administration (FCTA), through the Federal Capital Development Authority (FCDA), is carrying out infrastructural development in Maitama II (A10) District.

“All allottees who have not paid their bills for the Certificate of Occupancy (C-of-O) are hereby advised to settle their bills in full within two (2) weeks from the date of this publication.

“All affected allottees are informed that failure to pay all outstanding land bills, rents, fees, and charges within the stipulated grace period will result in the withdrawal of the offers of Rights of Occupancy (R-of-O) over the said plots of land by the honourable minister of the FCT, and reallocation of the lands.”

Among those listed are high-profile individuals including Femi Gbajabiamila, Speaker of the House of Representatives; Bukola Saraki, former Senate President; and Rochas Okorocha, former Governor of Imo State.

Also included are serving and former lawmakers, ministers, and even children of former President Muhammadu Buhari, Yusuf and Zahra Buhari.

Serving and former lawmakers on the list are Dino Melaye, Kabiru Marafa, Stella Oduah, Danjuma Goje, Ben Bruce, David Umaru, Saliu Mustapha, Biodun Olujimi, Andy Uba, Sunday Karimi, Olumide Osoba, Nicholas Ossai, Emmanuel Bwacha, Osita Izunaso, and the House Leader, Julius Ihonvbere, Wole Oke and Kabiru Gaya.

Having lifted about 103 million litres of petrol from Dangote Refinery between September 15 and 30, the Nigerian National Petroleum Company Limited (NNPC) is now set to implement a new pricing regime for the product, those familiar with the matter have told PREMIUM TIMES.

The refinery was able to load 2,207 of 3,621 trucks sent to it within the period under review. The vehicles carried just 102,973,025 litres of the planned 400,000,000 litres of petrol earmarked to be lifted from the refinery at 25 million litres per day. That translated to just 26 percent performance, records seen by PREMIUM TIMES show.

The NNPC began lifting petrol from Dangote Refinery on September 15 as sole off-taker of the product from the facility.

On that same day, the company announced that it was buying the product from the refinery at N898.78 per litre and then selling it to marketers at N765.99 per litre, shouldering a significant subsidy of almost N133 per litre.

The state oil company then indicated that as consignments from Dangote Refinery are discharged in fueling stations across the country, the price of the product would rise to reflect depot sale price, statutory charges, transportation costs and distribution challenges faced by different regions.

However, despite that announcement, pump prices of petrol at NNPC stations across Nigeria have in the one month hovered around N855 and N897, depending on location.

But NNPC insiders have now told PREMIUM TIMES that with the company gradually exhausting its imported stock of petrol and now relying more on cargoes from Dangote Refinery, the pump price of the product would have to be adjusted upward to reflect that reality.

It is unclear what the new price regime would be. Femi Soneye, the chief communications officer of the NNPC, was not immediately available to provide details of the impending price adjustment. He did not answer or return calls seeking his comment for this story.

However, the company had indicated in a pricing template it released on September 16 that once gantry price from Dangote Refinery and all charges were computed, the price of petrol at its pumps in Lagos would be N950.22 per litre, N980.22 in Rivers State, and N992.22 in Abuja.

The company estimated in that same September 16 template that the product would sell for N999.22 per litre at its stations in Nigeria’s North-western geopolitical zone while in Borno and other North-eastern states, the product would cost an estimated N1,019 per litre.


In Nigeria’s South-east, the company said petrol would cost N980.22 while consumers in South-west states (Oyo, Ogun, Ekiti, Osun, Ondo) would pay N960.22 per litre for the product.

But company insiders said the September 16 estimate is outdated given foreign exchange fluctuations in the country and the rise in crude prices due to the escalating tension in the Middle East.

“With crude now trading for more than $78 per barrel as of Sunday (today) and the naira exchanging for N1,660 to a dollar, there is no way a litre of petrol can sell for below N1350 per litre in Nigeria,” the official said.

The NNPC had on September 3 increased the price of petrol at its pumps from from N617 per litre to between N855 and N897, depending on location.

BY Bunmi Aduloju


The federal government says Nigeria has officially commenced the sale of crude oil and refined petroleum products in naira.

Wale Edun, minister of finance and coordinating minister of the economy, in a statement on Saturday, announced that in line with the federal executive council (FEC) directive, the sale of the products in naira commenced on October 1.

“Following a meeting of the Implementation Committee, Chaired by the Honourable Minister of Finance and Coordinating Minister of the Economy to conduct a post-commencement review of the Crude Oil and Refined Products Sales in Naira initiative, the commencement of this strategic initiative was affirmed by key stakeholders,” he said.

“The meeting brought together prominent figures, including the Honourable Minister of State, Petroleum (Oil), the Special Adviser to the President on Revenue, the Special Adviser to the President on Energy, the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the representative of the Chairman of Dangote Group, the Vice President of Dangote Group, and the management of the Nigerian National Petroleum Company (NNPC), led by the Group Chief Executive Officer (GCEO), Chief Financial Officer (CFO), and Executive Vice President (Downstream).”

According to the statement, the strategic initiative and bold step taken by President Bola Tinubu-led administration is expected to have a lasting impact on Nigeria’s economy, enhancing growth, stability, and self-sufficiency.

The ministry said the country continues to navigate the complexities of global markets, and the strategic move positions Nigeria for success in the years to come.

On July 29, the FEC approved a proposal by Tinubu directing the NNPC to sell crude oil to Dangote Petroleum Refinery and other refineries in naira.

The federal government said the sale of crude oil to the Dangote refinery and other refineries in naira would commence on October 1.

On September 30, Eche Idoko, publicity secretary of Crude Oil Refinery-owners Association of Nigeria (CORAN), said the sale will start with refineries producing petrol.

Three days later, the Nigerian Ports Authority (NPA) said it had commenced implementation of the federal government directive to coordinate service provision from all stakeholders for the smooth sale of crude oil in naira to the Dangote refinery.

Nigeria’s former Ambassador to The Philippines, Dr Yemi Farounbi, says the President Bola Tinubu of today is not the same he knew in the days of their activism as members of the pro-democracy group, the National Democratic Coalition (NADECO).

Farounbi expressed concerns over the frequency of policy changes of the Tinubu administration that have made it impossible for businesses and common Nigerians to plan economically.

The former ambassador, who turned 80 on October 1, 2024, said Tinubu is ideologically somersaulting by not staying true to the ideals he stood for before he was sworn in as Nigeria’s President on May 29, 2023.

Farounbi was a guest on Inside Sources with Laolu Akande, a socio-political programme aired on Channels Television on Friday.

He said economic instability would persist so long as the President doesn’t restructure the country properly.

The ex-ambassador said, “If I have that opportunity, I am going to ask him (Tinubu) to look back at what he was. I am going to ask him to look at the letter he wrote to (former President Goodluck) Jonathan in 2012. I am going to ask him to look at the cases he took to the Supreme Court on local governments.

“I am going to ask him why is he ideologically somersaulting. Why is he not appearing as the Tinubu that we knew, why is not the Tinubu that was committed to the restructuring of this country, a Tinubu that was interested in a sovereign national conference, a Tinubu that was committed to true federalism?

“I’m going to ask him what had happened. Can he be true to himself? Let him be himself as he was in the past and I think that a lot of these problems will not be there.

“Of course, I am going to tell him that he promised us a government of national competence and ask him that in the name of all that is good, does he think that he has a government of national competence? Does he think that the people that he has assembled are the best in this country? Does he think that he has the competence to deal with all that they have been asked to deal with?

“I will ask him to look even at his media; have they been projecting him rightly? What about the contradictions in what he has been saying?

“I will ask him what is happening that there are so frequent policy changes. That doesn’t seem like the Tinubu that I know. It has become even more difficult for anybody to even plan because you are not even sure of when he is going to somersault.

“I will ask him to change his team, to look for the best, those who will help him translate whatever he is doing for the greater good of Nigerians.

“People have been praising him for identifying the best of brains. I will ask him to go into that mold and identify the better brains that are scattered all over Nigeria and help us restructure the economy, help us restructure the country to ensure that his government takes greater care of the common man.

“The him (Tinubu) that I know will confront problems and find solutions to them. It is not him that will go into China and say what can we do? That is not the Tinubu that I know. Can he please come back to his original mold? Can he bring better people and look at his policy on subsidy?”

Furthermore, Farounbi lamented the vulgar monetisation of the political system as well as the departure of ideological politics to the politics of convenience since 1999.

“It wasn’t an ideological replacement; it was a vote-gathering mechanism,” he said, adding that the country has not been able to put his best hands forward because of the “money politics” and this has interrupted the dreams of many of Nigeria’s founding fathers and patriotic citizens.

“We must demonetise the political system here in Nigeria. We must look at our political recruitment system from councilors to the top in terms of what they are bringing to the table in terms of intellect and competence,” he said, emphasising that those who help the President to win the 2023 election have not been able to help him to run it well.

Farounbi said the idea of a progressive is to be able to provide for the welfare of the people, to be able to provide food and jobs for the people.

He said Nigeria needs a mental rebirth for states to become effective federating units. He lamented that the relationship between the Federal Government and states has become that of a headmaster and a student. “We must strengthen our federating units, they are not just Lilliputs in the hands of giants,” he said.

Italian referee, Fabio Maresca has been suspended from officiating UEFA Champions League (UCL) games after allegedly threatening to kill a player.

Maresca also faces a potential one-month suspension from Italian Serie A refereeing duties.

According to Corriere della Sera, the incident happened in the face-off between Kuwait SC and Al-Arabi when Maresca was confronted by Khaled Al Murshed upon colliding with each other.

While the referee did not make much out of it, a board member of Al Arabi, Adnan Abdul, revealed that Maresca said he would ‘kill the player’.

Maresca, who was selected as the fourth official for the tie between PSV and Sporting CP, was then replaced by his compatriot, Daniele Doveri, a matchup that eventually ended 1-1 on Tuesday night.

However, another Italian referee, Marco Guida officiated the game, assisted by the duo of Ciro Carbone and Giorgio Peretti.

From 2015 to 2019, Nigeria could only produce 1.46 billion litres of petrol due to low refining capacity caused by the country’s inactive refineries, as reported by the National Bureau of Statistics.

It disclosed this in its 2023 Petroleum Products Distribution Statistics released recently.

The PUNCH observed that the 1.46 billion litres produced within the period was not up to what the country would consume in two months.

According to the report, in 2015, the country produced 377.9 million litres of petrol; 1.05 million litres in 2016; 951.56 million in 2017 and 128.1 million litres in 2019.

No fuel was refined in 2018, it indicated.

From 2020 to 2023, the country only produced diesel and kerosene with the help of modular refineries, as the country’s refineries were moribund.

As a result, over 20 billion litres of petrol was imported in 2023, three billion litres below the 23 billion litres imported in 2022.

According to the report, 20.30 billion litres of Premium Motor Spirit were imported in 2023 relative to 23.54 billion litres in 2022, dipping by 13.77 per cent.

In the same period, PMS truck out stood at 20.22 billion litres, indicating a 16.96 per cent decrease relative to 24.35 billion litres recorded in 2022.

The Federal Government had repeatedly linked the reduction in the quantity of imported petrol to the removal of subsidies.

It was revealed that about 69.71 million litres of kerosene were locally produced in 2023, compared to 44.68 million litres in the previous year, indicating a 56.02 per cent rise.

For automotive gas oil (diesel), 109.39 million litres were locally produced in 2023, compared to 102.47 million litres reported in 2022, representing a 6.76 per cent growth rate.

“Also, 4.94 billion litres of automotive gas oil were imported in 2023, indicating an increase of 23.66 per cent compared to 4.00 billion litres in the previous year,” the report stated.

Despite being an oil-rich nation, Nigeria depends on imported petrol due to a lack of refining capacity.

However, the Dangote refinery appears set to break the jinx as it commenced petrol production in September.

The President of the Dangote Group, Aliko Dangote, said the refinery would put an end to fuel importation when it became fully operational.