₦airaland Forum

by Jeremy


Fresh facts have emerged as to why Business mogul Aliko Dangote withdrew the petition he sent to the Independent and Corrupt Practices Commission (ICPC) against Engineer Farouk Ahmed, the immediate past ACE/CEO of the Nigerian Midstream Downstream Petroleum Regulatory Authority (NMDPRA).

Credible industry sources confirmed to LEADERSHIP that Dangote withdrew the petition due to concerns that the presence of Ahmed’s spouse as a key staff member of the ICPC could impact the investigation.

“What we understand,” a source said, “is that after the petition was filed, it came to light that Ahmed’s spouse holds a key position in ICPC. Although no one is sure how that might play out, there are concerns of interference.”

Although neither Dangote nor his lawyer could be reached to provide reasons for the withdrawal, our sources suggested that fear of possible interference may have been the reason for the withdrawal.

The Principal Partner of an Abuja-based law firm, O’J Law Consult, Dr Lilian Ojimma, said a petitioner is free to withdraw his petition from a prosecuting agency and go to another agency, if he so wishes.

“The only thing,” she said, “is that the petitioner cannot file the same petition in two agencies at the same time and pursue them simultaneously.”

However, the ICPC has assured that no one can interfere in the ongoing investigation into Dangote’s petition.

ICPC spokesperson, John Odey, told LEADERSHIP that: “I am not aware of any person working in the ICPC who is married to Farouk. Even if it is true, I can assure you that nobody will interfere in the ongoing investigation. Dangote’s withdrawal of the petition does not mean that the ICPC has stopped the investigation. Investigation continues.”

Our correspondent gathered that the ICPC had contacted the Swiss school that Dangote claimed that Farouk’s children attended and paid $7 million as school fees.

The ICPC spokesperson had, in a statement earlier, noted that the investigation will continue as the ICPC works for the interest of the public.

According to him, “The ICPC is in receipt of a letter dated January 5, 2025, titled ‘Notice of Withdrawal of Petition against Engineer Farouk Ahmed,’ submitted to the Commission by Dr O.J. Onoja, SAN and Associates, legal counsel to Alhaji Aliko Dangote.

“The letter from O.J. Onoja SAN, states that the petitioner has withdrawn the petition dated 16th December, 2025, submitted against Engineer Farouk Ahmed, the immediate past ACE/CEO of the NMDPRA, in its entirety and that another law enforcement agency has taken over.

“The ICPC wishes to state categorically that in line with the provisions of sections 3(14) and 27(3) of its enabling Act, the investigations in the interest of the Nigerian people and the Nigerian state have already commenced and are presently ongoing.

“The ICPC will therefore continue to investigate this matter in line with its statutory mandate and in the interest of transparency, accountability and the fight against corruption for the benefit of Nigeria.”

Meanwhile, Dangote has also petitioned the Economic and Financial Crimes Commission (EFCC) to seek an investigation into Farouk.

LEADERSHIP is in possession of an acknowledgement copy of the letter dated December 17, 2025, addressed to the EFCC chairman. The letter was duly received by the EFCC.

In the letter, Dangote asked the EFCC to investigate Farouk for alleged gross abuse of office, violation of the Code of Conduct for Public Officers, and corrupt and financial impropriety.

When EFCC spokesperson Dele Oyewale was contacted, he requested time to gather more information. He has yet to respond at the time of this press release.

by Onuado Cynthia


Political tension escalated in Rivers State on Thursday as the State House of Assembly formally commenced impeachment proceedings against Governor Siminalayi Fubara, listing multiple allegations of gross misconduct against him and his deputy, Prof. Ngozi Odu.

At plenary, the Majority Leader of the House, Major Jack, acting on the directive of the Speaker, Rt. Hon. Martins Amaewhule, read out a notice of misconduct, which contained 10 allegations against the governor.

According to the notice, the alleged offences of gross misconduct include the appointment of persons into offices and positions in the Rivers State Government without compliance with constitutional requirements for screening and confirmation by the House of Assembly.

Other allegations include the seizure of salaries, allowances and funds due to the “legitimate Rivers State House of Assembly,” allegedly in violation of Section 121(3) of the 1999 Constitution (as amended), as well as the seizure of the salary of the Clerk of the House, Mr. Emeka Amadi.

The lawmakers further accused the governor of refusing to implement constitutional provisions on the financial autonomy of the Rivers State House of Assembly and the judiciary, withholding funds meant for the Rivers State House of Assembly Service Commission, and frustrating the operation of a commission established under Part 2AA of the 1999 Constitution (as amended).

Additional allegations listed include “attack and contempt for the rule of law by the Governor of Rivers State or any person,” and “destroying the Government because of fear of being impeached.”

Addressing lawmakers after the notice was read, Speaker Martins Amaewhule said: “The Majority Leader has just laid before the House the Notice of Allegations of Gross Misconduct brought pursuant to Section 188 of the Constitution for the Federal Republic of Nigeria as amended in 1999. This particular letter was signed by 26 members of the River State House of Assembly, which the Majority Leader has read their names.

“Distinguished colleagues, I am now in receipt of this letter and pursuant to sections of the 1999 Constitution as amended, I will ensure that this letter is forwarded to His Excellency Siminalayi Fubara, GSSRS, Governor of River State within seven days. Distinguished colleagues, I will do that. Rest assured, I will not renege. I will do my job in line with the Constitution.”

LEADERSHIP recalls that the Rivers State House of Assembly had earlier in 2025 raised allegations against Governor Fubara, including extra-budgetary spending, demolition of the State Assembly complex, withholding funds due to the Assembly Service Commission, and alleged non-compliance with a Supreme Court directive on legislative autonomy.

The fresh impeachment move, which also affects the deputy governor, has further heightened political tension in the state, raising concerns over governance and stability in Rivers State.

By Christian Appolos



Former President Olusegun Obasanjo has disclosed that Nigeria’s organised labour movement was, at a critical stage in its history, funded by foreign intelligence agencies, a development he said exposed the country’s labour system to external control and raised grave concerns about national sovereignty.

Obasanjo made the revelation at the 85th birthday celebration and public presentation of the memoir of a former President of the Nigeria Labour Congress (NLC), Hassan Sunmonu, titled “Memoirs of an African Trade Union Icon: Organise, Don’t Agonise”.

The gathering of labour leaders, policymakers and civil society actors evolved into a broader reflection on the past, present and future of trade unionism in Nigeria.

According to the former president, Nigeria’s labour space during the Cold War era was dominated by two powerful labour organisations which, though Nigerian in name, were allegedly financed and influenced by opposing global power blocs.

He said one faction received support from the Soviet Union’s KGB, while the other was funded by the United States’ Central Intelligence Agency, a situation he described as unhealthy and dangerous for an independent nation.

“As far as you remember, when Gooduck was leading one of the two major labour then Adebola, these two labour organizations are Nigerian labour organizations but they were not organized or funded by Nigeria,” Obasanjo said. “I don’t know if you know that, but that was the reality.

“One was being financed by KGB, that is the truth, and the other one was being financed by CIA, that was the truth, and then I came on the scene.”

He explained that this reality shaped his resolve, as military Head of State, to reform the labour movement and insulate it from foreign interference by building a structure that was organised, controlled and financed by Nigerians.

“I needed a Nigerian labour union organised by Nigeria, controlled by Nigeria, financed by Nigeria. So I decided there was going to be a labour union reform,” Obasanjo said, recalling that the reform process was spearheaded by Justice Adebiyi.

He noted that Sunmonu was among those who initially questioned his involvement in labour matters.

Obasanjo said, “Hassan was one of those who was forefront to ask, what do I know about labour that I’m asking for reform? What is my business?”

Obasanjo said the reform process eventually led to the restructuring of trade unions and the enactment of laws that gave birth to the Nigeria Labour Congress as a unified national platform.

He stressed that the emergence of the NLC leadership was achieved without direct government interference, restoring credibility to organised labour and fostering relative industrial stability.

“Of course, I don’t know anything about labour but I know that I wanted a Nigerian labour organization organized by Nigeria, headed by Nigeria, and funded by Nigeria,” he said.

“When Justice Adebiyi finished his job and we reformed the labour and party law establishing NLC, what happened? Without government’s hand, they elected their leader and Hassan became the first leader they elected. I don’t know how I felt at that time, but I felt comfortable.”

Sunmonu, who led the NLC from 1978 to 1984, is widely regarded as one of the architects of modern trade unionism in Nigeria.

Reflecting on his relationship with Sunmonu, Obasanjo said government and labour were bound to interact and even depend on each other, but must do so without compromising their independence.

He recalled advising Sunmonu to openly criticise government policies after private engagements in order to preserve labour’s credibility and the trust of workers.

He added that the introduction of a compulsory check-off system ensured sustainable union funding and permanently eliminated foreign financial influence from Nigeria’s labour movement.

Obasanjo further praised Sunmonu for elevating Nigerian labour on the continental and global stage, describing him as the most influential figure in the country’s labour movement after the late Pa Michael Imoudu.

The occasion also provided a platform for the current President of the Nigeria Labour Congress, Comrade Joe Ajaero, to deliver a blistering critique of contemporary economic policies, new tax laws and Nigeria’s rising public debt. Ajaero warned that the systematic exclusion of labour from critical policy processes was deepening poverty and undermining democratic governance.

He argued that the philosophy captured in Sunmonu’s memoir, Organise, Don’t Agonise, stood in sharp contrast to what Nigerians were currently experiencing, accusing the government of preferring “enrage over engage.”

“Tax laws that tax the national minimum wage, impose heavier burdens on workers and the poor, and worsen excruciating poverty are not progressive but regressive,” Ajaero said.

He insisted that labour was deliberately excluded from the Presidential Committee on Tax because workers were “meant to be on the menu.”

Raising broader concerns about governance and accountability, the NLC president echoed Sunmonu’s recent public interrogation of Nigeria’s growing debt profile.

“Where are all the monies being borrowed by the federal government?” he asked. “It is from this standpoint that we must speak directly to the Nigerian Government.”

Ajaero warned that bypassing key stakeholders, distorting Acts of Parliament and ruling “by strong arm” eroded public trust and threatened national stability.

He said the central message of Organise, Don’t Agonise also imposed a responsibility on the state to engage citizens sincerely rather than provoke frustration and social unrest.

“The philosophy of ‘Organise, Don’t Agonise’ also implies that the state has a duty to engage, not enrage.

There is an urgent need for deeper, more sincere, and structured engagement with the trade union movement at all levels,” he said.

“Policies, from fuel pricing to taxation, from wage to social services, must be crafted with the active, respected input of those who represent the workers and the broader masses.”

“To sideline the organised voice of labour is to design policies on shaky, exclusionary foundations, destined to generate crisis and agony as is being witnessed currently,” he added.

The NLC president also demanded the immediate constitution of the PENCOM board and called for clarity and restraint in the implementation of the new tax laws, warning that persisting on the current path was dangerous for tax administration and democracy.

While celebrating Sunmonu as a symbol of courage, integrity and principled engagement, Ajaero said the event had transcended personal honour and become a moment of national reckoning on the condition of Nigerian workers.

He urged the Federal Government to urgently address workers’ wages ahead of the next statutory minimum wage negotiation and called for a decisive shift toward inclusive governance.

“Comrade Sunmonu, as we launch your book today, we pledge to keep its central message alive,” he said.

“We will continue to organise. We will continue to challenge power. We will continue to fight for a Nigeria where no worker has to agonise over poverty, insecurity, heavy taxation or a stolen future riddled with national debt.”

Efforts to obtain official government reactions to the concerns raised were unsuccessful as of press time.

Africa’s foremost businessman, Alhaji Aliko Dangote, has withdrawn his petition to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) against the former Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Alhaji Farouk Ahmed.

However, the ICPC said there was no going back on its investigation of Ahmed, stressing that the matter is in the public interest.

The anti-graft agency has activated a formal procedure to reach out to schools in Switzerland to verify whether Farouk’s children were, or are, enrolled in the institutions listed in the petition.

Dangote had alleged that Ahmed expended, without evidence of lawful income, a humongous sum of over $7 million in public funds on the education of his four children in different schools in Switzerland, allegedly paying fees upfront for a period of six years.

Investigation by our correspondent revealed that Dangote decided to withdraw his petition from the ICPC because a similar complaint is already being investigated by the Economic and Financial Crimes Commission (EFCC).

He reportedly asked the ICPC to allow the EFCC to proceed with the investigation, even though he had initially chosen to petition the two agencies.

A source at the commission said: “We asked him to come in person to adopt his petition because our law does not allow representation in criminal matters.

“We pleaded with Dangote to come to the ICPC headquarters in Abuja on December 29 to do the needful.

“We have now received a letter of withdrawal from him. But he cannot stop our investigation because the petition falls within our mandate.

“We deal with the public sector and public service. It is in the public interest, and we must see it to its logical conclusion.

“There is also an inter-agency understanding that once ICPC or EFCC is handling a petition, one of us must stay action.

“Despite the withdrawal of the petition, we are going ahead with our probe of the allegations against Farouk.

“The ICPC has initiated a formal procedure to reach out to all the schools in Switzerland mentioned in Dangote’s petition.

“As a matter of fact, we are awaiting their feedback.”

A statement by the Spokesperson and Head, Media and Public Communications of ICPC, Mr. John Okor Odey, last night confirmed the commission’s position.

The statement said: “The ICPC is in receipt of a letter dated January 5, 2025, titled ‘Notice of Withdrawal of Petition against Engineer Farouk Ahmed’, submitted to the Commission by Dr. O.J. Onoja, SAN and Associates, legal counsel to Alhaji Aliko Dangote.

“The letter states that the petitioner has withdrawn the petition dated December 16, 2025, submitted against Engineer Farouk Ahmed, the immediate past ACE/CEO of the NMDPRA, in its entirety, and that another law enforcement agency has taken over.

“The ICPC wishes to state categorically that, in line with the provisions of Sections 3(14) and 27(3) of its enabling Act, investigations in the interest of the Nigerian people and the Nigerian state have already commenced and are presently ongoing.

“The ICPC will therefore continue to investigate this matter in line with its statutory mandate and in the interest of transparency, accountability and the fight against corruption for the benefit of Nigeria.”

Special Adviser to President Bola Tinubu on Policy Communication, Daniel Bwala, has likened former presidential candidate of the Labour Party, Peter Obi, as Premier League football players that change club every season.

Speaking during an interview on The Clarity Zone Podcast, Bwala described Obi as political opportunist and actor.

He said that Obi has an army of soldiers on social media, who attack people everyday for changing party but do not see anything wrong when their master or hero defected from one party to another.

“Of all the political gladiators in Nigeria, the one who is an actor is Peter Obi. Let me give you a good example. After the 2023 election, he lost everybody he was leading.

“He had House of Representatives and Senators. How many of them are in the National Assembly at the moment? The only governor he had, is the governor with him or with us?

“Taking it down to state, in fact, I have not seen anyone that identifies with him at the moment . All the candidates he had gone across Nigeria supporting, failed.

“He claims to be building a movement. A movement means you are departing from the norm. That means these people can do anything for you but will just realize after a while that oh this is not actually someone with the intention to govern Nigeria.

“Obi is just like Premier League football players that change club every season. He moved from APGA to PDP, then to Labour Party, and now, he is in ADC,” Bwala said.

U.S. President Donald J. Trump, on Saturday, January 3, announced the capture of Venezuelan President Nicolás Maduro following an overnight joint military operation in Caracas.

Speaking at a news conference from his Mar-a-Lago residence in Palm Beach, Florida, Trump described the raid as a high-risk extraction carried out against what he called a heavily fortified target in the heart of Venezuela’s capital.

According to the U.S. President, the operation resulted in the arrest of Maduro and his wife, Cilia Flores de Maduro. Trump said the pair will face criminal proceedings in the United States stemming from a 2020 Department of Justice indictment that includes charges of narco-terrorism and drug trafficking.

While the detention of a sitting foreign president is rare and controversial, Maduro’s case is not without historical precedent. On a handful of consequential occasions, the United States has directly detained or removed sitting presidents or de facto heads of state abroad, actions that have often sparked lasting legal, diplomatic and sovereignty debates.

Here are notable foreign leaders who have been detained by the United States.


1. 1901 — Emilio Aguinaldo (Philippines)

During the Philippine–American War, U.S. forces conducted a covert operation to capture Emilio Aguinaldo — leader of the Filipino independence movement and head of a rival government. Although not a president in today’s sense, Aguinaldo’s detention effectively broke organized resistance and highlighted America’s expanding imperial reach at the start of the 20th century.

His capture remains a defining moment in early U.S. colonial history

2. 1990 — Manuel Noriega (Panama)

Once a CIA asset turned adversary, Panama’s military ruler Manuel Noriega was seized during Operation Just Cause, the U.S. invasion of Panama in 1989–1990. After his surrender, Noriega was flown to the United States, tried in a federal court on drug trafficking charges and sentenced to prison.

His case stands as perhaps the clearest example of the U.S. treating a foreign head of state as a criminal defendant within its own legal system.


3. 2003 — Saddam Hussein (Iraq)

After the U.S.-led invasion of Iraq, Saddam Hussein was found hiding near Tikrit in December 2003. His capture marked a symbolic end to the Ba’athist regime.

Following his arrest, Saddam was transferred to Iraqi authorities, tried before an Iraqi court for crimes against humanity and executed in 2006.

This remains one of the most legally formalised cases of a foreign leader detained after U.S. military engagement.


4. 2004 — Jean-Bertrand Aristide (Haiti)

The removal of Haitian President Jean-Bertrand Aristide remains one of the most disputed U.S. interventions of the modern era.

In the midst of an armed uprising, U.S. forces escorted Aristide onto a plane and flew him out of Haiti.

Washington described the move as a protective evacuation amid chaos, while Aristide later denounced it as a forcible removal, calling it a “kidnapping.”

Debate endures over whether he was “captured,” but the U.S. undeniably controlled his departure.


5. 2026 — Nicolás Maduro (Venezuela)

In a stunning and highly controversial military operation on January 3, 2026, U.S. forces captured Venezuelan President Nicolás Maduro in Caracas and transported him to New York to face criminal charges, including narco-terrorism and drug trafficking.

Maduro and his wife, Cilia Flores, appeared in federal court on January 5 and entered not guilty pleas amid debate over the legality of the operation and claims of presidential immunity.

The Trump administration argued the action was justified by longstanding indictments and a global narcotics threat, but critics say it violates international law and sovereign norms.

by Bukola Aro-Lambo


With less than 90 days to the recapitalisation deadline for banks in the country, 19 banks have now met the new capital requirements ahead of the March 31, 2026 deadline given by the Central Bank of Nigeria (CBN), as First Bank Nigeria, Fidelity Bank and FSDH Merchant Bank join the league of recapitalised banks.

This is as analysts say they expect more banks to conclude their recapitalisation plans between next week and the end of this month.

LEADERSHIP had earlier reported that 16 banks met the new capital requirements for their respective licence categories last year.

These included Access Holdings, Zenith Bank, GTBank, Ecobank, Stanbic IBTC, Wema Bank, Jaiz Bank, Lotus Bank, Providus Bank, Greenwich Merchant Bank and PremiumTrust Bank, alongside Globus Bank, Citibank Nigeria, United Bank for Africa, Nova Bank and Sterling Bank.

More recently, First Bank, Fidelity Bank and FSDH Merchant Bank also joined the list.

Fidelity Bank Plc has raised approximately N250 billion through a private placement. This offer opened and closed on December 31, 2025, driven by substantial investor demand fuelled by the bank’s impressive financial performance and solid track record.

A source close to the lender stated that this swift completion is a notable achievement for Nigeria’s stock market.

NGX regulations typically allow up to 10 days for such private placements.

Fidelity Bank aims to meet the Central Bank of Nigeria’s N500 billion minimum capital requirement for banks with international authorisation by the March 31, 2026 deadline.

Reportedly, participation was limited to a small circle of pre-qualified institutional investors, many with global investment footprints.

Market intelligence estimates the proceeds at roughly N250 billion, comfortably exceeding the bank’s estimated capital gap of N194.5 billion. This fully subscribed offer places Fidelity Bank among the more strongly capitalised Nigerian banks with international operations.

While the CBN is yet to ratify the new capital base of some of these banks, they seem to have scaled the hurdle, with some others set to scale it soon.

A player in the industry who craved anonymity noted that many of the banks yet to clear the hurdle are expected to do so before the end of the month, with announcements expected from next week.

CBN Governor Olayemi Cardoso had late last year confirmed the progress of banks in their race to meet the deadline.

Cardoso had stated that “several banks have already met the new capital thresholds, while others are advancing steadily and are well positioned to comfortably meet the March 31, 2026 deadline.”

He disclosed that 27 banks had accessed the capital market through public offers and rights issues, with 16 already meeting or exceeding the new benchmarks, adding that beyond headline figures, stress tests conducted in 2025 showed that the banking system remained fundamentally robust, with key financial soundness indicators meeting prudential standards across the board.

Despite the progress, several lenders are still fine-tuning their capital plans.

The First City Monument Bank (FCMB) Group is among those in advanced stages of capital raising and regulatory verification.

Shareholders of FCMB Group Plc at an Extraordinary General Meeting (EGM) recently approved an increase in capital raise of up to N400 billion to enable it to retain its international banking licence ahead of the March 2026 deadline.

Group chief executive officer of the bank, Ladi Balogun, noted that “the additional capital will be deployed to strengthen our capital adequacy ratio and accelerate growth.”

Analysts say mergers and acquisitions remain limited for now, but ownership changes are becoming increasingly likely as banks court new investors.

Head of Financial Institutions Ratings at Agusto and Co, Ayokunle Olubunmi, said only a few institutions remain under real pressure.

“Nothing dramatic has happened yet on the mergers front, but by January or February, we could see clearer outcomes. Capital raising through private placements and rights issues will inevitably lead to dilution for shareholders who do not participate,” he said.

The race for capital has also triggered a wave of strategic realignments.

Nova Bank opted to downgrade its licence to a regional banking status, significantly lowering its requirement to N50 billion to beat the deadline.

Meanwhile, consolidation is picking up steam; Union Bank has merged with Titan Trust Bank, and Providus Bank is set to merge with Unity Bank, a move that would create Nigeria’s ninth-largest lender by assets.

Left in the race with the option of either meeting up, merging or closing shop are Keystone Bank, Parallex Bank, Polaris Bank, Signature Bank, TAJBank, Citibank Nigeria and Standard Chartered Bank Nigeria.

Others are FBN Quest Merchant Bank, Coronation Merchant Bank and Rand Merchant Bank.

by Ayomikunle Daramola


Omoyele Sowore, presidential candidate of the African Action Congress (AAC) in 2023, says he would prioritise drone technology over traditional military fighter jets if he becomes Nigeria’s president.

Speaking on Monday during his appearance on Morning Brief, a Channels Television programme, Sowore said drones would be effective in Nigeria’s fight against terrorism and banditry.

“If I’m president of Nigeria, I’m not buying any jet anymore. I’m buying unmanned aerial vehicles. I want to invest in drones. They are pretty expensive, but they are more effective,” he said.

Sowore said drones provide better surveillance with fewer personnel, adding that drones can be deployed to track kidnappers and other criminals in difficult terrains.

“You can just have five persons operate ten drones. Even the drones that they buy for two thousand dollars, I have two of them, and they get seized all the time. They can cover a four-kilometre radius within twenty minutes,” Sowore said.

“If I have ten unmanned drones and operators, and I hear there is a kidnapper walking in the bush, I can use that drone to at least track them for a while, until the police can then conduct their cordon,” he said.

“If I’m president of Nigeria, I won’t have a minister of defence. My minister of defence would be a drone.”

He added that buying multiple drones for a state would significantly improve security, while investing in costly fighter jets that require lengthy training and complex maintenance is inefficient.

On his broader priorities, Sowore said his first focus would be to restore electricity supply across Nigeria.

“It would be a general awareness of dignity. For the first time, you would feel like you’re Nigerian. You’d feel like you’ve come to a country that has respect for you and people ready to work from day one,” he said.

“My priorities are many but one of the first ones is to turn on electricity in Nigeria. It would be my first priority because it would have impact on security.”

By Vanessa Onah


The National Secretary of the All Progressives Congress, APC, Senator Ajibola Basiru, has slammed Minister of the Federal Capital Territory, FCT, Nyesom Wike, urging him to resign from his ministerial position and face his “obsession with Rivers politics and the APC”.

In a statement on Monday, Basiru declared that Wike has no standing to involve himself in any APC political matters until he formally joins the party.

He also rejected Wike’s claim that he is motivated by the N600 billion in the coffers of Rivers State government, emphasizing that he is not an opportunist and has consistently taken principled positions.

“From my record, he (Wike) isn’t a member of APC. I don’t see which authority or temerity he has to be dabbling in APC affairs.

“I am the National Secretary of APC and I don’t see any basis for him to be making comments about my activities either in Rivers State or in any part of Nigeria.

“As the National Secretary of the party, my activities aren’t confined to Osun State contrary to his wrong impression. I am the head of the National Secretariat of the APC.

“So, he has no locus whatsoever to engage me in any political activity that concerns the APC until he joins the party.

“Secondly, I take strong exception to his allusion that I am interested in the N600 billion allocations of Rivers State. My records of service are those of integrity and commitment to service.

“I am not an opportunist, and I have never shied away from taking principled positions on any matter, no matter whose ox is gored.

“As to his veiled threat against me, I am a believer in God, that only God can do something for anybody, no matter how highly placed.

“I am one of the young Nigerians that confronted military dictatorship. I can’t be bullied by anybody, no matter how highly placed. My records as national secretary are above board, and I can’t be queried by somebody who isn’t a member of APC.

“Finally, my advice to him is that he should resign as Minister and face his obsession with Rivers politics,” Basiru said in the statement.

by Chika Izuora


A nationwide petrol price adjustment is expected soon as marketers prepare to take free delivery of products from Dangote refinery.

A source close to the refinery confirmed to LEADERSHIP that modalities are being finalised to ensure all areas of the country are covered.

Our source said the exercise would commence soon and adequate bridging would cover key marketing associations that have signified interest to partner with the refinery.

Already market operators anticipate downward price tweak in response to the refinery’s planned free delivery of its refined petrol to registered members of the Independent Petroleum Marketers Association of Nigeria (IPMAN), and petrol stations nationwide, aiming for January 2026.

The ultimate target is to improve supply, stabilise prices, and support local marketers, though this is a logistical service (free transport) rather than giving away fuel for free to the public, with the goal of lowering pump prices by cutting distribution costs and bypassing middlemen.

Though, the exercise is yet to commence, the national president of the IPMAN, Abubakar Shettima, in a chat with the LEADERSHIP said the country would witness a downward spiral price effect at the take off of the exercise.

Shettima, told our correspondent on the phone that his members anticipated a further crash from current price levels.

According to him, once the exercise begins, IPMAN members will review downward pump price levels to reflect the free distribution gains.

He said that one of the key factors that put pressure on pump price is cost of transportation of products to designated outlets.

The IPMAN president, assured that with the agreement reached with Dangote refinery, price of the products would drop significantly in the north as Dangote trucks would help offset logistics costs.

He also stated that his members would not have to further source products from importers since the agreement would help reduce further associated costs.

Shettima, urged government to jettison the policy of products importation which he said iwas mpacting negatively on the economy.

Our correspondent reports that Dangote refinery is building on existing facility expansion to provide adequate support services to petroleum marketers as it said free product delivery will commence in January 2026.

This services may be available to expanded marketing groups as the IPMAN has called on all its members nationwide to patronise the refinery in their purchase of petrol.

The IPMAN noted that the refinery already offers the best affordable price for all marketers.

The association also expressed delight over a recent agreement by the Dangote Petroleum Refinery to begin the supply of petrol directly to registered IPMAN members.

The IPMAN applauded the support of the Chairman of Dangote Petroleum Refinery, Aliko Dangote towards the Federal Government, which it noted had become evident in the regular reduction of the petroleum pump price.

According to Shettima, “the association has the highest percentage of the supply chain of the PMS downstream sector, controlling over 80% of the PMS retail market. We therefore declare that there will be no gap or scarcity in PMS supply to Nigerians.

“We are also excited at the recent agreement by the Dangote Refinery to begin the supply of PMS products directly to registered IPMAN members, and its free delivery to our filling stations anywhere and everywhere in Nigeria which will commence in January 2026.

“This will again, certainly lead to further decrease in the pump price of the products at our filing stations. Therefore, I am calling on all IPMAN members nationwide to prioritise patronising the Dangote Refinery in their purchase of PMS products, as they already offer the best affordable prize for all marketers today”, the statement added.

The IPMAN boss noted that “At IPMAN we have no doubt as to the viability of the oil and gas policies being initiated by the Federal Government, and we have ceaselessly called and sought for enhanced cooperation across all levels of governance in the oil and gas sector. Hence our repeated persuasion to always partner the Dangote refinery, to ensure the steady availability of PMS products.

“The focus of the Dangote & IPMAN partnership, has always been geared towards making life better for Nigerians. And of course, this blooming partnership would never have been possible without the pragmatic leadership of President Bola Ahmed Tinubu, and his sound judgment in readjusting the leadership of the NMDPRA and the NUPRC.

Our position has always been to deepen domestic refining in order to eradicate imports of petroleum products. Continuous import is NOT an acceptable parallel business model, because issuing import licenses recklessly distorts market dynamics, drains foreign exchange, enthrones poverty, destroys jobs, and scares potential investors away,” Shettima added.

by Agency Report


The University of Gambia has renamed its School of Agriculture and Environmental Sciences after the former President of the African Development Bank Group, Akinwumi Adesina.

Mr Adesina was honoured in recognition of his contributions to agriculture and food security in Africa.

This was disclosed in a statement signed by Victor Oladokun and made available to journalists on Thursday in Lagos.

President Adama Barrow unveiled a plaque on Wednesday formally designating the faculty as the Dr Akinwumi Adesina School of Agriculture and Environmental Sciences.

The News Agency of Nigeria (NAN) reports that the honour celebrates Mr Adesina’s leadership during his tenure as AfDB President from 2015 to 2025, when the bank implemented wide-ranging reforms that advanced economic development across the continent.

Speaking at the unveiling, Mr Barrow said the renaming reflected The Gambia’s appreciation of Mr Adesina’s “visionary leadership and lasting contributions to Africa’s agricultural transformation.”

Under Mr Adesina’s leadership, the AfDB rolled out the High 5s development agenda, which includes Light Up and Power Africa, Feed Africa, Integrate Africa, Industrialise Africa and Improve the Quality of Life of Africans.

This, according to bank data, impacted more than 535 million people.

During the same period, the Bank’s capital base grew from $93 billion to $318 billion, the highest in its history, while the institution retained its AAA credit rating and won several global awards.

NAN reports that Mr Adesina also spearheaded the Feed Africa Strategy, which provided food security for more than 104 million people and strengthened agricultural productivity across the continent.

In The Gambia, the AfDB under Mr Adesina financed the Senegambia Bridge, a landmark project that has significantly reduced travel time between The Gambia and Senegal and boosted trade and regional integration.

The decision to rename the faculty was conveyed in a letter dated 27 November 2025, by the Minister of Higher Education, Research, Science and Technology, Prof. Pierre Gomez.

“Your tenure as President of the African Development Bank has been transformative, driving economic growth, poverty reduction and sustainable development across Africa,” Mr Gomez said.

He added that Mr Adesina’s leadership in launching the Feed Africa Strategy and the Technologies for African Agricultural Transformation (TAAT) initiative had “revolutionised agricultural productivity and food security.”

The university stated that the gesture was intended to inspire students to emulate Mr Adesina’s vision, determination, and commitment to Africa’s development.

In a letter of appreciation to President Barrow, Mr Adesina described the honour as exceptional.

“It is with great humility and deep gratitude that I express my appreciation for the renaming of the School of Agriculture and Environmental Sciences in my honour,” he said.

NAN recalls that President Barrow, in 2023, conferred on Adesina The Gambia’s highest national honour, the Grand Commander of the Order of the Republic, in recognition of his contributions to the country and Africa.

(NAN)

By Babajide Komolafe


Musa’s phone buzzed just as he was settling down after dinner. “N250,000 CREDIT ALERT.” He smiled. It was money his elder sister in Ibadan had sent to support their mother’s hospital bills.

But almost immediately, another thought crept in. “Wait o… with all this new tax law wahala, will this money be taxed?” If Musa feels confused, he’s not alone.

Many Nigerians are now worried that any money entering their bank account automatically means tax. But that’s not how tax works — and the new tax laws make this clearer than ever. Let me tell you what Musa learned.

Not All Money Is Income The first thing Musa discovered is a simple rule: Tax is not about money entering your account. It’s about what that money actually is. In other words, not every credit alert is income, and only income is taxed.

This is where many people get into trouble — not because they are doing anything wrong, but because they describe money wrongly.

The Description Matters More Than the Alert A few days later, Musa checked his bank statement and noticed something interesting. Each credit had a description. That’s when it clicked.

If money looks like income, the system may treat it like income — even when it isn’t. But when money is correctly described, you only pay tax where tax is truly required. Let’s walk through the kinds of money Musa receives — just like most Nigerians.

Family Support Is Not Income That N250,000 from Musa’s sister? It was family support. As long as it is truly a gift or family assistance, it is not taxable. Money sent to help parents, siblings, or relatives does not suddenly become income just because it entered a bank account.

Correct description: “Gift” or “Family support” Tax: None Refunds and Reimbursements Are Not Income Another day, Musa’s office refunded him money he had spent on transport during a work trip. That money wasn’t profit.

It wasn’t a salary. It was his own money coming back to him. Correct description: “Refund” or “Reimbursement” Tax: None

Moving Your Own Money Is Still Your Money Musa sometimes transfers money from his savings account to his current account. Sometimes he sends money to himself using different banks. That doesn’t create income.

Correct description: “Personal transfer” or “Savings” Tax: None Loans Are Not Income When Musa borrowed money from a cooperative to fix his car, that money also came as a credit alert. But borrowing does not make you richer — you must pay it back. Correct description: “Loan received” Tax: None

Business Capital Is Not Business Income Musa’s cousin runs a small printing business. When she added her own money to the business to buy new equipment, that money entered the business account. But that wasn’t a profit. It was the capital. Correct description: “Capital contribution” Tax: None

Why This Matters Under the New Tax Laws What the new tax laws emphasize is accuracy and transparency. They are not saying: “Every credit alert must be taxed.” They are saying: “Money should be described honestly and correctly.”

If you wrongly label money in a way that makes it look like income, you may end up paying more tax than you should.

One Important Warning

All these descriptions are tax-free only when they are true.

Calling income a “gift” when it is actually payment for work is illegal and can lead to penalties. The law protects honest taxpayers — not false descriptions.


The Lesson Musa Learned

That night, Musa relaxed. He hadn’t done anything wrong. His money was clean, legal, and properly described.

The new tax laws didn’t come to punish him. They came to make one thing clear:

Always describe your money accurately and legally. That way, you pay only the tax you truly owe — and nothing more. And really, that’s something every Nigerian can agree with.

by Emmanuel Femi


The Nigerian Air Force (NAF) operating under the Air Component of Operation FANSAN YAMMA, Sector 2, on December 28, 2025, neutralised scores of terrorists and destroyed their Improvised Explosive Device (IED) manufacturing hub and camps in Zamfara State .

A statement by the NAF spokesman, Air Cdre Ehimen Ejodame, said the two high-impact precision Air Interdiction (AI) missions at Turba Hill and Kachalla Dogo Sule’s Camp, both in Tsafe Local Government Area of Zamfara State also killed several terrorists fighters.

Air Cdre Ejodame said the Air Component, acting on credible and multi-source intelligence, deployed NAF air assets against terrorists’ enclaves at the identified locations.

According him, the first strike targeted Turba Hill, a confirmed bandits’ hideout.

He added that persistent intelligence, surveillance and reconnaissance revealed significant human activity and an operational zinc-roofed structure assessed to be central to the enclave’s activities.

Ejodame said the target was engaged with precision following positive identification, resulting in a direct hit.

“Post-strike battle damage assessment confirmed the complete destruction of the structure and the neutralisation of several bandits,” he said.

According to the NAF Spokesman, the second Air Interdiction mission was conducted at the camp of a Kachalla Dogo Sule, a notorious bandit stronghold identified as a key IED manufacturing and operational hub.

He said intelligence had linked the camp to the planning and execution of recent IED attacks along the Dan Sadau–Magami axis.

“The precision strike successfully engaged multiple active structures within the enclave, triggering intense fires that destroyed the facilities and neutralised several bandits, effectively crippling the group’s IED production and deployment capability,” he said.

He assured that these decisive air strikes represent a significant degradation of bandits’ networks operating in Zamfara State, particularly their capacity to manufacture and employ improvised explosive devices.

He further reaffirmed Nigerian Air Force’s unwavering commitment, working in close coordination with other components of Operation FANSAN YAMMA, to deny criminal elements safe havens, degrade their combat effectiveness, and support ongoing joint efforts to restore lasting peace and security across the North-West and the nation at large.

Controversial Islamic cleric Sheikh Ahmed Gumi has called Nigerians who praise the recent United States airstrikes against extremist groups “stupid,” describing their support as misguided.

The airstrikes, reportedly conducted with Nigeria’s approval, targeted Islamic State‑linked militant camps in Sokoto State.

Officials said the operations were precision attacks based on intelligence shared by Abuja, aimed at weakening insurgent networks.

Gumi criticised the Nigerian government for allowing foreign military involvement and called for it to demand the withdrawal of U.S. forces.

He said: “The Nigeria government should call the attention of the ambassadors concerned to immediately withdraw the US military intervention on Nigeria insurgency fight.”

He then addressed citizens who had welcomed the strikes, describing such reactions as a misunderstanding of the implications for national security.

“This is nothing but a betrayal of our Nigerians. Some people will be saying that since we cannot end the insecurity and we have United States government intervention, why don't we gladly accept the help?” he said in a video.

“There are stupid people whose thinking faculty is very small; they are the ones who will think so.”

“This person (US President Donald Trump) must be stopped and chased out. This is a person that has his hands stained with the blood of children and adults,” he said.

“How can you call for assistance from a thief when they enter your house?”

In a statement titled ‘The Symbolism of the US Strike,’ posted on his Facebook page last week, Gumi said Nigeria had made a strategic error by allowing cooperation with the United States, insisting that “terrorists don’t fight terrorists in truth; they may only kill innocent people and have ulterior motives behind the drama of fighting ‘terror.’”

He further stated that no country should allow its territory to become a battleground or permit its neighbours to become enemies, warning that foreign military presence often comes with hidden agendas.

“If Nigeria wants military assistance, China, Turkey, and Pakistan can do the job effectively,” he said, adding that U.S. involvement would “attract the real anti-US forces, making our land the theatre of war.”

Gumi also cautioned that American intervention under the guise of protecting Christians could deepen religious divisions and undermine national sovereignty.

Investigators have linked a bulk of the wealth of Abubakar Malami, the former attorney-general of the federation, to a number of sources, TheCable can report.

At the top of the list are Paris Club refunds made to states, unpaid loans taken from the Central Bank of Nigeria (CBN) under the anchor borrowers programme, and the restitution of Abacha loot to Nigeria.

Malami has been detained by the Economic and Financial Crimes Commission (EFCC) ahead of his arraignment before a federal high court in Abuja.

Properties estimated at over N200 billion have been traced to Malami. The assets are believed to have been acquired when he was attorney-general under former President Muhammadu Buhari from 2015 to 2023.

He has denied all allegations in statements by his media team, alleging political persecution and promising to defend himself in court.


PARIS CLUB REFUNDS

On the legal advice of Malami, the federal government had decided to deduct $418 million from state allocations as payment to consultants over the Paris Club refund.

Nigeria had exited the Paris Club of creditors in 2005 after paying $12 billion in exchange for a write-off of $18 billion of its $30 billion debts accumulated from the early 1980s.

However, the federal government, under former President Obasanjo, paid the $12 billion from the federation purse regardless of how much was owed by the federal, state and local governments to the creditors.

After the states protested, it was decided that they should be refunded since most of the debts were taken by the federal government — with most states not owing foreign creditors.

Consultants were engaged by the federal government to calculate how much was to be refunded to the states, and they charged a commission in excess of $400 million.

The Nigeria Governors’ Forum (NGF) opposed the arrangement, but Malami insisted that the consultants must be paid from state allocations, to be deducted at source.

In a media spat between 2021 and 2022, the NGF accused Malami of pursuing “selfish interest” and alleged that he was working for the consultants rather than in the national interest.

“We’re constrained by the manner in which the honorable attorney-general has been going around various media houses and purporting to create the impression that this is a liability to which governors had committed themselves to and agreed to, even though he is very much aware that that’s not the case,” the NGF said.

“And we reject all of the claims that he has made on this issue. And we also insist that states will not give up on insisting that these purported claims are fraudulent and will not stand as far as governors are concerned and we would take every constitutional and legal means to ensure that these purported consultancy are fully litigated upon by the highest court in the land.”

After initially stopping payment, Buhari later gave his approval, much to the disappointment of the governors.

EFCC investigators have traced the bulk of Malami’s alleged sudden wealth to kickbacks from the deal, sources in the know told TheCable.


ANCHOR BORROWERS’ PROGRAMME

In 2015, the CBN launched the anchor borrowers programme (ABP) — a development finance initiative to boost local food production, create jobs, and reduce food imports.

The ABP was to provide farmers with farm inputs such as seeds, fertiliser and cash for labour, to enable them to increase yields and supply processors.

This was to create a value chain linkage from farm to market and supporting food.

Investigators discovered that Malami used the name of one of his wives, Hajiya Bashir Asabe, to get a N4 billion loan, which was never repaid.

The wife has now been charged to court along with him.

The CBN dispensed over N1 trillion on the ABP and is yet to recover over N600 billion, fuelling speculation that a significant portion of the disbursements might have been slush fund for politicians.


ABACHA LOOT COMMISSION

In 2016, Malami hired the services of two Nigerian lawyers — Oladipo Okpeseyi and Temitope Isaac Adebayo — for the repatriation of $321 million stolen by Sani Abacha, the former military head of state.

The repatriation of the stolen funds started before the administration of former President Muhammadu Buhari in 2015.

The monies had been recovered and frozen in 2013 under former President Goodluck Jonathan, but the repatriation process was stalled in 2015 following a lawsuit filed by the Abachas.

From 2013 to 2014, the federal government had engaged the services of Swiss lawyers, Enrico Monfrini and Christian Luscher, to recover the stolen funds from Liechtenstein and Luxembourg — and domiciled the monies with the attorney-general of Switzerland.

Nigeria had paid four percent of the recovered Luxembourg assets as professional fees and expenses to the foreign lawyers, in addition to roughly $6.8 million in fees paid to Monfrini for the Liechtenstein recoveries.

Since all the fees had been paid by Nigeria, it was only required that Malami, who was the then AGF, would sign a memorandum of understanding (MoU) with the Swiss authorities and commit to an undertaking that the funds would be properly utilised.

However, in December 2017, Malami, in a suspicious move, engaged the services of the two Nigerian lawyers, which cost the country $16.9 million as commission and professional fees from the recovered funds.

Malami engaged the two lawyers to duplicate the job of the Swiss lawyers and get their own cut from the already done deal.

TheCable understands that Okpeseyi and Adebayo have been detained and interrogated by the EFCC.

“They made useful statements to the EFCC,” a source in the know told TheCable.

After the disbursement of the duplicated commission, payments were said to have been traced to Malami by investigators at the anti-graft agency.

by Aderonke Oni


Tears, anguish, and a cry for help filtered through Nigeria’s social media space on Christmas Eve. For many importers and Instagram vendors, the festive season ushered in losses reportedly north of “billions”, following an inferno that consumed the 22-storey Great Nigeria Insurance House on Martins Street, Lagos Island.

The fire had lit up the skies on the night of December 24, spreading to adjacent structures, including a mosque, before emergency responders brought it under control.

In an update on December 25, Damilola Oke-Osanyintolu, director-general of the Lagos State Emergency Management Agency (LASEMA), said preliminary investigations showed that the fire originated from an apartment on the fourth floor before rapidly escalating to the sixth floor and beyond.

Seven adult males reportedly sustained various degrees of burns and received immediate medical attention from paramedics before being transferred to nearby hospitals.

The building, which served as a warehouse and outlet for clothing materials, alongside corporate offices, housed goods “worth millions”, and in some cases, “billions of naira”, according to affected traders.

Several vendors took to social media to narrate their losses and the emotional toll of the incident.

An importer, with the name ‘Monchericloset_empire’ on Instagram, described the building as “majorly a warehouse”, lamenting that importers had lost goods worth billions of naira.

“To be an importer is not easy. I am not even crying for myself only. I am crying for everybody that has goods in that Great Nigeria House. Imagine billions of naira,” she said.

Another vendor, known as the ‘_houseofemmy’, said illness delayed her from clearing newly arrived goods from the warehouse.

“What type of consolation do I want to give myself? I keep blaming myself. I cannot cheat nature. I have been sick since last week. Terribly sick, and whenever I have migraine, I will be unable to function,” the vendor said.

“Last week, I was called that my market has arrived. I was saying, what is my January market doing now in December? That it was too early. I was like, ‘let me see the way my body will feel when I come back next week, (this week that we want to enter), we will offload everything. I am very sure we would have sold a little bit from the goods in the store and there will be space.

“I was still saying that I would go and pay, not until I saw the fire incident. I just questioned myself.

“Everything people worked for in one year. No single holiday, no single break for me since 2024. I worked all year.”

Also, Bussie_closeet said she delayed clearing her goods until December 29, only for the warehouse to be “burnt to ashes”.


‘I SAW PARTICLES OF MY GOODS… IN THE FLAME’

“Imagine losing all my new year goods to Wait and Carry,” she added.

Another vendor, Tifefashionstores confirmed that both personal and pre-order goods were destroyed in the fire, urging customers to be patient as shipping companies were yet to provide full details.

“A lot of people are asking if their exact goods are there or not. We are not certain of all items yet, as the shipping company hasn’t provided all information. With time, we will be back with solid information,” she said.

“Please be gentle on me at this time, that’s all I ask. Millions of naira have gone in the flames, I could see particles of my goods.”

In an emotional post, a TikTok user identified as Bimzee Collections said she lost two shops to the fire.

“God, do you want to take everything from me? People will mock me,” she said.

“I have no one to depend on. I have been struggling since d (sic) age of 12 years old. So all what I have been struggling for since this year has vanished just in a day.”

An Instagram vendor, Chic.hub, said she confirmed the loss of her goods after initially trying to shield herself from the emotional impact.

“I can’t stop thinking about how much stress I went through in China trying to source all these items and how much money went down just to invest in my business. 2025 will forever be a year I will never forget!” she said.

TheCable understands that about 36 containers were in the affected building.

In an official notice circulated among victims, Wait and Carry Cargo said it would not issue payments or refunds to affected customers, citing the losses it also incurred.

The company said the fire destroyed its office, warehouses, and stored goods, adding that it was still conducting a full assessment as not all affected containers had been identified.

“However, we are actively working to put all necessary information together and will continue to keep our customers updated,” the notice reads.

“For now, below is the list of recently offloaded containers that were within the affected building: 638, 640, 648, 653, 656, 657, 660, 661, 668, 669, 674, 675, 676, 677, 678, 679, 681, 684, 687, 691, 695, 701, 703, 704, 705, 707, 708, 709, 715, 716, 717, 719, 720, 723, 724.

“Kindly note that this incident falls under Force Majeure/Act of God, being an unforeseen and unavoidable event beyond the control of the company.

“As a result, no payments or refunds can be made to affected customers, as the company has also suffered a total and severe loss.

“We sincerely appreciate your patience and understanding during this extremely difficult period.”

A similar notice from Express Cargo, another shipping company, also circulated online.


‘NO WRITTEN REPORT CAN REFLECT PAIN’

Reacting to the incident, Babajide Sanwo-Olu, governor of Lagos state, expressed sympathy with the victims and commended emergency responders.

Sanwo-Olu, who visited the scene for an on-the-spot assessment, noted that the scale of the loss could not be fully captured in reports.

“No written report can truly reflect the pain or the full extent of this loss,” the governor said.

“I want to thank our firefighters, emergency responders, and all the agencies that worked tirelessly through the night to bring the fire under control. Their courage and dedication saved lives and prevented the damage from spreading further.”

He said the state government will continue to assess the situation and “provide support to those who have been impacted”.

Many traders reported that the state fire service failed to put out the blaze, despite arriving early at the scene.

Explaining the delay in containing the fire, Margaret Adeseye, controller-general of the Lagos State Fire and Rescue Service, said the affected buildings are predominantly warehouses with poor storage practices, involving highly combustible materials that fuelled the fire’s rapid spread and complicated suppression efforts.

Adeseye added that crowd control and limited access to the scene posed significant challenges for emergency responders, while the conjoined nature of the building structures further aided fire propagation.

by Bunmi Aduloju


Conflicting figures have been noticed in the proposed federal government budget for 2026.

On December 19, President Bola Tinubu presented the 2026 budget of N58.18 trillion to the national assembly.

He highlighted the key aggregates to include: expected total revenue of N34.33 trillion, projected total expenditure of N58.18 trillion, recurrent (non-debt) expenditure of N15.25 trillion, and capital expenditure of N26.08 trillion.

According to the president, the budget is expected to be funded with a revenue of N34.33 trillion, leaving a budget deficit of N23.85 trillion (4.28 percent of gross domestic product).

Following Tinubu’s national assembly engagement, a major stakeholder in the civic tech space reported a different amount.

BudgIT, a civic tech non-profit organisation, cited N58.47 trillion as the proposed 2026 budget.

According to the organisation, the appropriation bill includes capital expenditure of N25.68 trillion, debt servicing of N15.52 trillion, personnel costs of N10.75 trillion, statutory transfers of N4.1 trillion, and overhead costs of N2.22 trillion.

Checks by TheCable Index showed that this amounted to N58.27 trillion, as against the total of N58.47 trillion presented by BudgIT.

Earlier on December 19, the federal executive council (FEC) approved the 2026 appropriation budget, with aggregate expenditure projected at N58.47 trillion.

The discrepancies may create uncertainty about Nigeria’s exact spending plan for 2026 and raise questions about the country’s budgeting processes.

by Aderonke Oni


The Dangote Petroleum Refinery says it has commenced nationwide sale of premium motor spirit (PMS), also known as petrol, at N739 per litre across all MRS Oil Nigeria Plc filling stations.

Dangote refinery said the move represents a significant milestone in its mission to deliver affordable petrol and stabilise Nigeria’s downstream petroleum market.

The firm said with over 2,000 MRS stations nationwide, the new pricing is expected to be implemented across all outlets, ensuring that the benefits of the reduction reach consumers nationwide.

“We commend MRS and other marketers who have demonstrated patriotism by reflecting the reduced price at the pump,” the refinery said in a statement on Sunday.

“We call on others to join this effort as a show of support for Nigeria’s economic recovery.

“Historically, the festive season has been associated with fuel scarcity and sharp price hikes.

“However, Dangote Refinery has delivered a decisive market intervention—crashing pump prices at a time when Nigerians typically brace for hardship.

“Backed by a guaranteed daily supply of 50 million litres, this initiative fundamentally alters the supply dynamics during the holiday period.”

By refining locally at scale, the refinery said it is reducing Nigeria’s exposure to volatile global markets, conserving foreign exchange (FX), stabilising the naira, and strengthening energy security.

The refinery said its sustained price cut and steady supply are providing relief to households, businesses, and transport operators nationwide.

But the organisation warned against attempts by “unscrupulous” operators to create artificial scarcity in response to the price reduction, calling on government agencies to take decisive action.

“Any attempt to create artificial scarcity or manipulate supply to frustrate recent price reductions is unpatriotic and unacceptable,” the statement further reads.

“We urge regulatory authorities to remain vigilant and take firm action against such practices, especially during this critical festive period.”


‘REPORT MRS STATION SELLING ABOVE N739’

The refinery urged consumers to refrain from buying petrol at inflated prices, noting that high-quality alternatives are available.

“We encourage Nigerians to avoid buying PMS at excessively high prices when they can access locally refined fuel at N739 per litre from over 2,000 MRS stations nationwide,” the firm said.

“Report any MRS station selling above N739 per litre by calling 0800 123 5264.

“We also call on other petrol station operators to patronise our products so that the benefits of this price reduction can be passed on to Nigerians across all outlets, ensuring broad-based relief and a more stable downstream market.”

Dangote refinery reaffirmed its commitment to steady supply, price moderation, and energy security, noting that its operations are anchored on long-term national interest rather than short-term market pressures.

By Dare Olawin


As more MRS filling stations in Lagos and Ogun states join in dispensing the Premium Motor Spirit (petrol) produced by the Dangote Petroleum Refinery at N739 per litre, motorists have started boycotting retail outlets that sell the product at higher prices.

This has compelled other stations to lower their petrol prices by about N100 per litre, an amount that is far below their cost of purchase, indicating the severity of the price war in the downstream oil sector.

Last week, the Dangote refinery shocked depot owners and marketers when it slashed the gantry price of petrol by N129, from N828 to N699 per litre. During a recent press briefing, the President of the Dangote Group, Aliko Dangote, said he had information that some marketers planned to keep pump prices high despite the reduction in the gantry price.

Consequently, Dangote vowed to enforce the new price regime, with MRS selling petrol at N739 from last Tuesday. “I was told that the marketers have met with (some officials) and were told to make sure that the price is maintained high. But this price we are going to introduce, we are going to start with MRS stations, most likely on Tuesday (last week) in Lagos; that N970 per litre, you won’t see it again. We have also asked members of IPMAN to come now. We have asked anybody who can buy 10 trucks to come and buy 10 trucks at N699.

“We are going to use whatever resources we have to make sure that we crash the price down. For this December and January, we don’t want people to sell petrol for more than N740 nationwide. Those who want to keep the price high to sabotage the government, we will fight as much as we can to make sure that these prices are down. If you have money to come and buy, you can pick up petrol at N699,” he said.

Our correspondent reports that when some MRS filling stations in Lagos dropped the price of petrol on Tuesday, it triggered long queues of vehicles seeking to buy the commodity at the outlets. It was observed that the MRS filling station in Alapere, Lagos, recorded a large turnout of buyers, many of whom boycotted other outlets selling petrol above N800 per litre.

As a result, checks by our correspondent on Sunday showed that other filling stations had started reducing prices in order to remain competitive in the market. From over N900 last week, many retail outlets now sell petrol below N800 per litre as motorists patronise those with lower prices.

While buyers thronged MRS and other stations with cheaper fuel, outlets selling at higher prices struggled to attract customers.

“The good thing is that there is always an MRS in almost every neighbourhood you turn to, and this has given buyers the opportunity to shun other stations to buy the cheaper Dangote petrol from MRS. This is a major concern for all traders nationwide,” a major oil marketer familiar with the development, who spoke to our correspondent in confidence in order not to be victimised, stated on Sunday.

The PUNCH reports that as of Sunday, many filling stations had effected changes in their pump prices.

For instance, SGR filling station in Ogun sold petrol at N750 per litre, while Petrocam in Mowe sold the fuel at N785 per litre. The stations struggled to compete with the N739 price offered by MRS opposite the RCCG Camp Ground. Before now, their prices were close to N900.

Heyden, known to be a partner of Dangote, had yet to lower its price, selling petrol at N875 per liter, while AP sold the product at N800 per litre. It was observed that Mobil filling stations along the Lagos-Ibadan Expressway sold petrol at N780; Akiavic, N799; Habeeb, N850; Eternal, N880; and Asharami, N890 per litre.

The fuel prices represent a significant reduction of about N100 or more compared to their previous price levels before Dangote dropped the price. However, The PUNCH reports that the reduction comes at heavy losses to both Dangote and the marketers competing with him.


Dealers suffer losses

Amid the intense competition, the Nigerian National Petroleum Company Limited also reduced petrol prices from N875 to between N825 and N840, depending on the location. The state-owned company is one of the biggest importers of petrol in November, according to a report by the Nigerian Midstream and Downstream Petroleum Regulatory Authority.

In the NMDPRA fact sheet, the NNPC, said to be the supplier of last resort, imported petrol in November to build inventory and further guarantee supply during the peak demand period.

However, at a landing cost of about N828 per litre, according to the Major Energies Marketers Association of Nigeria, importers like the NNPC would find it difficult to compete with Dangote’s N699 per litre ex-depot price and N739 per litre pump price, thereby selling the product below the landing cost.

Recall that the NNPC used to be the sole importer of petrol due to subsidies. As the Dangote refinery began petrol production a year ago, the sector was fully deregulated, and the queues that used to build up at NNPC stations because of price differentials vanished.

It was gathered that many NNPC stations in Lagos now struggle for customers who opt for lower petrol prices.

Meanwhile, as marketers said they were losing billions of naira, Dangote replied that he was also losing money. Findings by The PUNCH show that petrol importers are on the verge of losing as much as N102.48bn monthly following the Dangote refinery’s reduction in gantry price.

At the same time, the refinery is projected to lose about N91bn in a month as a direct consequence of the price cut, underscoring the intensity of the competition currently reshaping Nigeria’s downstream oil market.

The spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, earlier said, “Marketers will lose over N80bn on this reduction. We will lose more than N80bn. And now that this reduction is there, you will see that the pump price will start dropping gradually from N900 towards N750 per litre,” he said, adding that consumers would naturally flock to stations selling cheaper fuel.

Ukadike urged the Dangote refinery to consider compensating marketers who bought petrol at the old rate, suggesting discounts on future purchases as a way of cushioning the losses.

Dangote, however, insisted that the refinery was also losing heavily each time it reduced prices. During the last media briefing, he disclosed that the refinery lost about N60bn in November alone after reducing gantry prices by N49.

“For the marketers, I pray, and I wish they would even lose more because I’m not printing money. I’m also losing money; it’s not that I’m making money,” Dangote said recently.

He added, “They want imports to continue. I don’t think it is right. They want to continue to dump imported petrol, so I must have a strategy of how to survive because $20bn of investment is too big to fail. We are in a situation where we will continue to play cat and mouse, and at the end of the day, somebody will give up. It is either we give up, or they will give up, and I don’t think I will give up.”


Price determines patronage

Speaking with our correspondent on Sunday, IPMAN spokesperson Ukadike stated that any marketers who refuse to reduce prices would lose their customers, saying price determines patronage.

“We are in a situation where competition can be determined by price. Patronage will be determined by pricing. Nobody is againstyou; nobody is regulating you. You will regulate yourself. The market will regulate itself. The time has gone when people were queuing at NNPC filling stations. Wherever the fuel is cheap, that is where the marketers go. So, we are in a price war. Demand and supply determine the price.

“Once Dangote has reduced the gantry price to N699, marketers will dive towards competitive pricing whereby they can retain their numerous customers; if not, interest from banks would be ‘eating’ your capital,” Ukadike said.

He announced that the association has entered into a partnership with the Dangote refinery.

“We have formed a partnership already because Dangote has invited IPMAN for the first time. The major marketers have failed Dangote. He has now realised that only the independent marketers are the strategic partners that can evacuate his petroleum products as quickly as possible. He said IPMAN should come and pick up the products. He said it clearly. And since that time, we have provided tremendous patronage,” he said.

Ukadike expressed optimism that Dangote would compensate IPMAN members for the losses incurred as a result of the sudden price drop.

“Definitely, he will do that, seeing our continuous patronage. You know, Dangote’s marketing strategy is a reward for patronage. He makes it easier for independent marketers by cutting the minimum quantity we can purchase to 250,000 litres, and you know the independent marketers constitute over 85 per cent of petrol filling stations in this country. Our members are going straight to the refinery to load petrol individually,” he disclosed.


1,000 petrol trucks

The Dangote refinery confirmed over the weekend that over 1,000 fuel trucks now flock to the facility daily to load petrol. A statement by the company said the refinery has emerged as the hub of fuel distribution in Nigeria, following “bold strategic adjustments aimed at making energy more affordable and accessible.”

This, it said, followed the significant reduction in gantry price alongside a cut in the minimum purchase requirement from two million litres to 250,000 litres. “These measures underscore Dangote refinery’s commitment to stabilising supply, fostering inclusivity, and supporting national economic growth,” the statement said.

To further reassure marketers, the refinery said it had introduced a 10-day bank guarantee system, ensuring uninterrupted supply and strengthening confidence in its operations.

“Since the announcement, the response from fuel marketers has been overwhelming. The refinery now records over 1,000 trucks loading PMS daily from its gantry, a clear testament to market trust in the Dangote refinery’s efficiency and leadership in the downstream sector.”

Aliko Dangote was quoted as saying, “Our goal has always been to make energy affordable and accessible for every Nigerian. By reducing prices and lowering the minimum purchase volume, we are empowering both large and small marketers to participate in the market, ensuring fuel reaches every corner of the country.”

It was added that the approach opens the market to smaller operators, strengthening distribution networks and improving fuel availability across the country.

“By lowering barriers to entry, Dangote refinery is driving competition and ensuring Nigerians benefit from a more stable and affordable fuel supply chain,” it was stated.

Meanwhile, in a short video on its social media handles, the Dangote Group warned Nigerians against being overcharged by other filling stations, saying petrol is now N739 per litre.

“Petrol is now selling at N739.00 per litre at MRS filling stations nationwide. Avoid being overcharged by other stations! Say no to rip-offs. Get quality petrol at MRS stations nationwide. Many other stations are joining soon,” the Dangote Group said.

By Damilola Aina


The Federal Government has announced plans to tap into Nigeria’s largely informal vehicle recycling market, projecting annual revenues of over N150bn from 2026, as part of sweeping reforms to modernise the country’s automotive industry.

The National Automotive Design and Development Council disclosed this in a statement issued on Sunday, with the Director-General, Joseph Osanipin, saying the initiative would be driven by a comprehensive End-of-Life Vehicle programme already approved for implementation.

Osanipin explained that the policy would formalise the recycling of vehicles that have reached the end of their useful lives, turning what is currently an environmental and safety burden into a major economic opportunity.

“In developed countries, when you buy a new vehicle, during registration, you make a payment towards the disposal of that vehicle when it reaches the end of its life. When it gets to the end of its life, somebody has to be responsible for the disposal,” he said.

According to him, Nigeria’s programme will follow a similar model, requiring a modest fee at the point of vehicle registration to fund environmentally sound disposal and recycling, a move he acknowledged may initially face public resistance.

Osanipin noted that Nigeria already has a thriving informal second-hand auto parts market, commonly referred to as the Belgian parts market, driven largely by durability and quality concerns around new parts.

He said studies by the council showed that over 85 per cent of components from end-of-life vehicles remain reusable or recyclable, creating a strong foundation for a formal circular economy.

“If someone has an alternative, instead of abandoning vehicles by the roadside, you can turn them in and still make something out of them. The circular economy associated with this will be worth billions of naira every year, if well managed,” he said.

He added that beyond revenue generation, the recycling ecosystem would create thousands of jobs across dismantling, refurbishing, logistics and component resale segments.

The announcement comes against the backdrop of a rebound in Nigeria’s vehicle import market this year. The PUNCH recently reported that the value of passenger motor car imports rose to about N1.01tn in the first nine months of 2025, up from roughly N894bn in the same period last year, signalling a resurgence in demand as foreign exchange market stability improves and importer confidence returns.

Data from the National Bureau of Statistics showed that the recovery only gained traction in the second half of the year, with the third quarter posting a sharp uptick in import value that more than offset slower activity earlier in the year.

The rebound underscores the resilience of Nigeria’s auto market, especially the fairly used (“Tokunbo”) segment, but also highlights persistent challenges, including high landing costs, currency exposure, and structural dependence on imports.

As part of the reforms, the NADDC will introduce mandatory pre-export certification for all used vehicles imported into Nigeria from 2026, a measure aimed at curbing the dumping of rusted and end-of-life vehicles into the country.

Osanipin said Nigeria was currently one of the few African countries without such a requirement, making it a destination of choice for exporters seeking to offload unroadworthy vehicles.

He recounted a meeting with a foreign exporter who admitted shipping eight containers of end-of-life vehicles to Nigeria because it offered the “highest profit.”

“We will ensure that importers are held responsible so that whatever you are buying, you know what you are buying,” he said, adding that the cost of certification would be borne by exporters, not Nigerian consumers.

In a parallel push to future-proof the sector, Osanipin unveiled plans to convert petrol and diesel-powered vehicles to electric vehicles and compressed natural gas, in line with the National Automotive Industry Development Plan.

He said the council had commenced extensive training programmes on EV technology, vehicle conversion and alternative fuel systems for both regulators and industry players.

“Capacity building is one of the major pillars of the NAIDP. “We have carried out training on vehicle conversion from PMS and diesel to CNG, as well as on electric vehicles,” he said.

He disclosed that the council had developed National Occupational Standards for EV maintenance and CNG retrofitting, with structured certification programmes expected to begin by 2026.

Osanipin said Nigerian engineers and students were making notable progress in local vehicle design, citing projects involving tricycles, buses and electric campus shuttle buses developed in collaboration with 12 universities and private sector partners.

“We want what is taught in our institutions to reflect industry realities. Producing even a few world-class auto engineers locally will have a significant impact on the economy,” he said.

He stressed that component manufacturing remains the real value driver in the automotive sector, noting that Nigeria spends more annually on tyres, brake pads, filters and batteries than on importing complete vehicles.

The council, he said, was engaging stakeholders to address infrastructure, financing and policy bottlenecks facing component manufacturers, especially as Nigeria positions itself to benefit from the African Continental Free Trade Area.

Osanipin also revealed plans to transform the NAIDP from a policy document into an Act of Parliament, announcing that a draft Auto Industry Bill would soon be presented to the National Assembly.

“Investment in the auto sector is huge. They will need an Act,” he said.

Acknowledging that some of the reforms would face resistance, Osanipin appealed to the media for support in explaining the policies to the public.

“When the pushback comes, we need you to explain to Nigerians what we are trying to do and why,” he said, describing 2026 as a pivotal year for Nigeria’s automotive industry transformation.

Senator representing Kogi Central, Natasha Akpoti-Uduaghan, has reacted to the Senate President Godswill Akpabio’s recent plea to President Bola Tinubu to review the withdrawal of police escorts attached to lawmakers, saying her faith and the support of her constituents were her true protection.

Akpoti-Uduaghan made the statement in a Facebook post on Sunday, in what appeared to be a veiled response to Akpabio’s comments during the joint session of the National Assembly on Friday, where President Tinubu presented the 2026 Appropriation Bill.

Quoting Akpabio’s appeal to the President, she wrote, “Some senators won’t be able to go home this holiday, please review your security policy.”

Responding pointedly, the vocal female lawmaker stated, “When you withdrew my security amidst the illegal suspension nko? Allah Almighty, through my beloved people of Kogi Central, are my security. Beat that love.”

Recall that Senator Natasha was suspended from the Senate for six months with privileges withdrawn over alleged misconduct in the Senate chamber.

LEADERSHIP reports that the Senate President had during the Friday session, expressed concern that some legislators might face security threats following the implementation of the President’s directive ordering the withdrawal of police escorts from Very Important Persons (VIPs).

Recall that Tinubu, in November, directed that police officers assigned to politicians, businesspeople, and other VIPs be redeployed to perform core policing duties in communities nationwide to tackle insecurity. The order was part of efforts to strengthen public safety and address the shortage of personnel in critical security areas.

Akpabio, however, warned that the decision might left some lawmakers vulnerable, particularly during the holiday season. He said, “As you direct the security agencies to withdraw policemen from critical areas, some of the National Assembly members said I should let you know that they might not be able to go home today because they might be picked up. So, on that note, we plead with the President for a review of the decision.”

The appeal came amid similar concerns raised by Senator Abdul Ningi, who earlier complained that his police orderly had been withdrawn while some VIPs elsewhere continued to enjoy security protection. Ningi urged the Federal Government to apply the policy “across the board” in the spirit of fairness and equity.

by Yusuf Alli


Pushes ahead despite ex-CEO’s resignation
Raises panel, opens investigation on Monday
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has invited businessman, Aliko Dangote for more information in respect of his petition against the immediate past managing director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Alhaji Farouk Ahmed.

Dangote is expected to appear or send his lawyer, Ogwu Onoja (SAN) tomorrow when ICPC’s investigation of the petition formally commences.

The commission raised a panel of crack investigators on Friday to handle the probe,The Nation learnt yesterday.

The ICPC ,according to sources ,has asked Dangote to submit his evidence to the anti-graft agency.

Dangote had accused Farouk of corruption and misappropriation of funds, including spending millions of dollars on his four children’s education in expensive and exclusive schools in Switzerland.

The businessman accused Farouk of economic sabotage by undermining domestic refining by colluding with international traders and oil importers through the continued issuance of import licences.

Farouk has since resigned his appointment.

But the commission said it is going ahead with the investigation, Farouk’s resignation notwithstanding.

“All is set for the investigation, ” a well- placed source in ICPC told The Nation yesterday.

“ICPC has set up a panel of crack investigators on Dangote’s petition. The Chairman of the commission, Dr. Musa Adamu Aliyu (SAN) asked the trusted team to stay action on a case and focus on Dangote’s petition. This underscores the importance attached to this case,” the source said.

“We have also invited Dangote or his lawyer to come on Monday to adopt the petition. “Either of them is to present relevant documents or evidence to support the petition.

“He who alleges must prove or provide lead on the allegations which our investigators must act on.

“We have acknowledged the receipt of the petition in line with our guidelines or mandate to do so within 48 hours.”

Continuing, the source said :”after formal adoption of the petition, we will isolate issues and ask Ahmed to respond to the allegations.

“We have been inundated with enquiries but I can assure you that ICPC will be fair to all the parties.”

Responding to a question, the source added: “The resignation of Ahmed does not affect this probe which is in the public interest.”

“Section 19 of the Corrupt Practices and Other Related Offences Act (ICPC Act 2000) makes it an offence for any public officer to use his/her position to confer an unfair or corrupt advantage on himself, his relatives, associates, or other public officers.Anyone found guilty of any such offence is liable to five years imprisonment without the option of a fine.

“The enabling law also stipulates harsh punishment for individuals deemed to have wasted ICPC’s time and resources by making malicious or frivolous petitions against others.”

In the petition submitted on Tuesday through his lawyer, Ogwu Onoja SAN), Dangote demanded the arrest, investigation and prosecution of Farouk for allegedly living above his means as a public servant.

He accused Farouk of “spending without evidence of lawful means of income amounting to over $7 million for the education of his four children” in Switzerland.

The document named the children and their schools and provided specific amounts paid for verification.

“Engr Farouk Ahmed spent without evidence of lawful means of income humongous amount of money of over $7million of public funds, for the education of his four children in different schools in Switzerland for a period of six years upfront,” Dangote alleged.

“It is without doubt that the above facts in relation to abuse of office, breach of the Code of Conduct for public officers, corrupt enrichment and embezzlement constitute gross acts of corrupt practices, for which ICPC is statutorily empowered under section 19 of the ICPC Act to investigate and prosecute,” Dangote added.

The cold war between Dangote and petroleum regulators had earlier sparked a N100billion suit.

The Dangote Petroleum Refinery and Petrochemicals FZE filed a N100 billion lawsuit at the Federal High Court in Abuja challenging import licences issued by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and others, including the Nigerian National Petroleum Company Limited (NNPCL).

The refinery accused the regulator of granting licences to import refined petroleum products despite domestic production capacity.

It alleged that the action of the regulator has violated some sections of the Petroleum Industry Act.

The suit, FHC/ABJ/CS/1324/2024, was discontinued in July 2025 by Dangote’s lawyers.

ICPC petition guidelines say: “Any person anywhere in the world may make a complaint against any other person (corporate or non- corporate) in Nigeria, where reasonable grounds exist for suspecting that such a person has conspired to commit or attempted to commit or has committed an offence under the Corrupt Practices and Other Related Offences Act 2000.

●Complaint/petition is made through oral/written report submitted through post, physically to any ICPC office in Nigeria.

●A complaint made orally or by an illiterate shall be reduced into writing and read over to the complainant by an officer of the Commission.

● The report shall set out details of the complaint , date, time and place where the offence was allegedly committed.

●The complainant shall provide the names and addresses, phone number, email and other relevant information that may assist the Commission in locating the person or persons against whom the complaint is made.

●The complainant shall state his/her full address, email or phone number or any other information that will assist the commission in contacting him/her, whenever necessary.

●Reports can also be made online through any of the commission’s reporting platforms.

●The commission shall acknowledge receipt of any petition within 48 hours.

Spokesperson of ICPC , John Okor Odey confirmed that the commission “received a formal petition on Tuesday, 16th December, 2025 from Alhaji Aliko Dangote through his lawyer. The petition is against the CEO of the NMDPRA, Alhaji Farouk Ahmed. The ICPC wishes to state that the petition will be duly investigated.”

Senate President, Godswill Akpabio, on Friday pushed back against public criticism of the National Assembly’s cooperation with the Executive, insisting that collaboration—not confrontation—between arms of government is essential for national progress.

The former Akwa Ibom State governor made the clarification after President Bola Tinubu presented the 2026 Appropriation Bill to a joint sitting of the National Assembly.

In his welcome address, Akpabio acknowledged widespread scepticism about the legislature’s posture but argued that nations thrive when institutions work in concert under the Constitution.

“Many in our country view the patriotic collaborative work between the National Assembly and the Executive arm as a sell-out by the parliament.

“But history is unambiguous on one enduring lesson: nations advance when the Executive and the Legislature work in concert, and they falter when the two become locked in hostility,” he said.

Addressing lawmakers, diplomats, and senior government officials, the Senate President framed the 2026 budget presentation as a defining moment in Nigeria’s reform journey, warning that prolonged executive–legislative rivalry has historically undermined governance across civilisations.

“It is pertinent to note that history has often distilled its lessons into simple truths. One of them is this: great nations are not built by perfect conditions, but by leaders who make hard choices together,” he added.

He cited examples ranging from the decline of the Roman Republic to budgetary standoffs in the United States to illustrate the costs of institutional conflict.

“Across history and continents, the pattern remains consistent: when the organs of state treat each other as adversaries, the nation pays the price. But when they act as partners under the Constitution, stability deepens, reforms take root, and progress becomes possible,” he said.

Akpabio described national budgets as mirrors of a country’s values and priorities, stressing that the 2026 Appropriation Bill should be viewed beyond numbers.

“Budgets tell a story. Show me a nation’s budget, and I will tell you its priorities, its fears, and its hopes.

“The 2026 Appropriation Bill you are about to present is, therefore, far more than a compilation of figures. It should be a statement of intent—a reflection of priorities, a record of difficult choices, and a roadmap for the next phase of Nigeria’s national renewal,” he said.

Placing the budget against Nigeria’s current realities, the Senate President acknowledged pressures on households and businesses, the anxieties of young people, and persistent insecurity across parts of the country.

“Families have felt the strain of rising costs. Businesses have adjusted to a changing economic environment. Insecurity has tested our collective resolve and reminded us that peace is not a gift we inherit, but a responsibility we must constantly defend,” he added.

Still, he struck an optimistic tone, insisting that Nigeria’s history is defined by resilience rather than retreat.

He said, “Yet history teaches us something enduring: Nigeria does not retreat in the face of difficulty—we confront it… From one generation to the next, this nation has survived storms not by surrendering to despair, but by standing together, reforming what must be reformed, and renewing our commitment to justice, inclusivity, and progress.”

Akpabio defended the reform trajectory of the Tinubu administration, particularly the 2025 budget, which he said required political courage to tackle long-delayed structural weaknesses.

According to him, the reforms are beginning to yield results.

“As a result, we are now witnesses to measurable gains. Government revenues are improving. Public finance is being managed with greater discipline and transparency… Nigeria is regaining confidence—within its borders and in the eyes of the international community,” he said.

Highlighting the role of the 10th Senate, Akpabio said the upper chamber had recorded one of the highest legislative outputs in Nigeria’s history over the past year, passing bills across security, economic reform, governance, judicial administration, elections, infrastructure, and social protection.

However, he cautioned that legislative success must translate into improved living conditions for citizens, noting that insecurity and unemployment remain pressing challenges.

Akpabio also commended Tinubu for Nigeria’s swift response to threats against democracy in the Republic of Benin.

In closing, the Senate President employed the metaphor of the baobab tree to underscore the long-term nature of reform and budgeting, urging unity of purpose between institutions.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on all its members nationwide to patronise the Dangote Refinery in their purchase of PMS products, noting that the refinery already offers the best affordable price for all marketers, even as free delivery commences in January 2026.

The association also expressed delight over a recent agreement by the Dangote Petroleum Refinery to begin the supply of Premium Motor Spirit (PMS) – also known as petroleum – products directly to registered IPMAN members, in a statement signed and issued by the IPMAN National President Alhaji Abubakar Maigandi Shettima.

At[b] a press conference held in Abuja yesterday on recent happenings in the oil & gas sector, IPMAN also applauded the support of the Chairman of Dangote Petroleum Refinery, Aliko Dangote towards the Federal Government, which it noted has become evident in the regular reduction of the petroleum pump price.
[/b]
According to Shettima, “the association has the highest percentage of the supply chain of the PMS downstream sector, controlling over 80% of the PMS retail market. We therefore declare that there will be no gap or scarcity in PMS supply to Nigerians.

“We are also excited at the recent agreement by the Dangote Refinery to begin the supply of PMS products directly to registered IPMAN members, and its free delivery to our filling stations anywhere and everywhere in Nigeria which will commence in January 2026.

“This will again, certainly lead to further decrease in the pump price of the products at our filing stations. Therefore, I am calling on all IPMAN members nationwide to prioritise patronising the Dangote Refinery in their purchase of PMS products, as they already offer the best affordable prize for all marketers today”, the statement added.

The IPMAN boss noted that “At IPMAN we have no doubt as to the viability of the oil and gas policies being initiated by the Federal Government, and we have ceaselessly called and sought for enhanced cooperation across all levels of governance in the oil and gas sector. Hence our repeated persuasion to always partner the Dangote refinery, to ensure the steady availability of PMS products.

“The focus of the Dangote & IPMAN partnership, has always been geared towards making life better for Nigerians. And of course, this blooming partnership would never have been possible without the pragmatic leadership of President Bola Ahmed Tinubu, and his sound judgment in readjusting the leadership of the NMDPRA and the NUPRC.

Our position has always been to deepen domestic refining in order to eradicate imports of petroleum products. Continuous import is NOT an acceptable parallel business model, because issuing import licenses recklessly distorts market dynamics, drains foreign exchange, enthrones poverty, destroys jobs, and scares potential investors away,” Shettima added.

The association congratulated the new heads of the oil & gas regulatory bodies, and reminded them of the long outstanding bridging claims owed its members totalling over N190 billion. “We specifically call on the NMPDRA new leadership to immediately make this debt a cause for serious concern as he assumes his new position”, the statement added.

Former Edo State Governor and Senator representing Edo North, Adams Oshiomhole, revealed that he celebrated the resignation of Engr. Farouk Ahmed and Mr. Gbenga Komolafe from Nigeria’s petroleum regulatory leadership, and described their exit as necessary for Nigeria’s economic survival.

Senator representing Taraba South, David Jimkuta, aligned with Oshiomhole during the session to join him in the drinking spree while posing pointed questions to the nominees amid prevailing perceptions.

The senators spoke on Thursday during the screening of President Bola Tinubu’s nominees for Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

The Joint Committee on Upstream, Midstream, Downstream, and Gas conducted the legislative assignment.

President Tinubu forwarded the names of Oritsemeyiwa Amanorisewo Eyesan as CEO of the NUPRC and Engineer Saidu Aliyu Mohammed as CEO of the NMDPRA to the Senate for confirmation.

The appointments followed the resignations of Engineer Farouk Ahmed (former NMDPRA chief) and Mr. Gbenga Komolafe (former NUPRC chief), both appointed in 2021 under the Petroleum Industry Act.

The shake-up came after a public dispute between Mr. Ahmed and Dangote Group President Alhaji Aliko Dangote, who accused the NMDPRA of frustrating domestic refining through the issuance of petroleum import licences and alleged personal corruption.

During the screening, Oshiomhole criticised what he called the “shameful policy choices” of the outgoing leadership.

“I celebrated it last night,” Oshiomhole said bluntly. “It needed to be done. And I’m still going to drink tonight because of their removal.”

While acknowledging the professional qualifications of one of the nominees, Mohammed, the former labour leader, said the real issue was not competence but policy direction.

“Looking at your CV, you are qualified. But the issue for me is not qualification. It is your policy choices,” he said. “Everywhere in the world, nation-states deliberately protect local industries, not because they like the owners, but because they want to create jobs.”

Oshiomhole warned that job creation would not come from sympathy for the unemployed but from deliberate support for labour-intensive industries such as refineries.

“Jobs will not be achieved by weeping for the jobless. It is by supporting businesses, particularly manufacturers like refineries,” he said.

He lamented that despite the issuance of multiple refinery licences over the years—including large, mid-sized, and modular refineries—policies under the previous leadership had undermined local refining and encouraged importation.

According to him, assets were “deliberately stifled” under the watch of the former regulators, a development he said ran contrary to Nigeria’s national interest.

“Anyone who is opposed to jobs being created in Nigeria, who prefers importation, importing products here and exporting our wealth abroad, has no business managing this sector,” Oshiomhole said.

The senator urged the new nominees to be guided by national interest rather than commercial convenience, stressing that the petroleum sector must work for Nigerian workers, engineers, and families whose livelihoods depend on local refining.

“Be guided by what is good for Nigeria, not by the interests of refinery owners alone,” he said. “The people who work there are our brothers, our sisters, our children.”

Oshiomhole commended President Bola Ahmed Tinubu for what he described as decisive action in removing the former officials, saying the decision had renewed hope among Nigerians who depend on the sector for jobs and economic stability.

Jimkuta asked: “I want you to tell us here clearly: what are you going to tell my children? What will you do differently? What exactly is your criticism of the existing system, and how do you intend to correct the attitude and impressions Nigerians have formed?”

The author of From Soldier to Statesman, Charles Omole, has said that there are five cabals within the government of President Bola Tinubu.

Speaking during an interview on Politics Today, a programme on Channels Television monitored by DAILY POST on Thursday, Omole said the first cabal is headed by the President himself.

According to him, others include the Femi Gbajabiamila–Wike group, the Seyi Tinubu group and the First Lady, Remi Tinubu group.

“President will always have people around him. But you need to put systems in place to avoid state capture or presidential capture because, for example, the current government have, from what I can see, at least five cabals within the presidency.

“And the interesting thing about one of the cabals actually is headed by the president himself, based on my own analysis.

“So, in this current administration, at least there are five groups. There is the Chief of Staff group headed by Femi Gbajabiamila. And by that I mean not just him but there are people in that circle like the FCT Minister, Nyesom Wike and the National Security Adviser, NSA Nuhu Ribadu.

“Secondly, you have the Seyi Tinubu’s group consisting of those he helped get some government appointments and all that. And of course, you have the First Lady’s group, Remi Tinubu,” he said.

By Dayo Oyewo



A 26-year-old woman, identified simply as Misturah, has been arrested for allegedly staging her own abduction and extorting N2.5m from her husband under the guise of a kidnapping, PUNCH Metro has learnt.

It was gathered that the incident was reported to the police on November 24 when a lawyer, Hamzat (surname withheld), contacted the police to report that his brother’s wife had been kidnapped by unknown armed men.

A source in the Lagos State Police Command, who spoke to our correspondent on Tuesday in confidence, said the supposed abductors demanded a ransom of N10m for Misturah’s release.

According to the source, the amount was later reduced to N3m during negotiations, after which a sum of N2.5m was eventually paid.

“Following the report of her supposed kidnapping, the command registered the incident for investigation.

“During ransom negotiations, the kidnappers reduced their demand to N3m. Subsequently, a sum of N2.5m was paid; however, the kidnappers initially refused to release the hostage.

“Upon receipt of the complaint, a team of police officers was deployed to track and rescue the victim.

“Before operatives could locate the suspected criminals’ hideout, the complainant contacted the squad and reported that the victim had been released and reunited with her family,” the source narrated.

The police source further stated that Misturah was subsequently invited to the command headquarters the following day, where she was debriefed and her statement recorded.

In her account, she reportedly claimed she was kidnapped by six armed men who arrived in a silver Toyota Venza and took her to an undisclosed location.

She also alleged that her iPhone 12 Pro Max was seized and that she was released only after the payment of N2.5m.

She further told detectives that the ransom money was first paid into her bank account before it was handed over to the kidnappers, insisting that the entire sum was delivered to them.

The police source, however, noted that further investigation raised suspicions, leading to the arrest of a 30-year-old man, identified simply as Daniel, on December 3, in Ede, Osun State.

The source said, “A SIM card used to register the WhatsApp account through which ransom negotiations were conducted was recovered from Adedamola.

“During interrogation, he stated that Misturah was an online acquaintance of about two years and that she requested the use of his SIM card to register a WhatsApp account.

“He stated that during the registration process, a one-time password was sent to him, which he forwarded to Misturah, enabling her to activate the WhatsApp account.

“He further stated that she informed him that the phone number would be used to resolve some personal issues.

“He claimed that after she concluded her use of the number, she deactivated the WhatsApp account and later informed him.

“However, he later began receiving multiple messages on the same line, which eventually caused WhatsApp to log him out of his own account.

“Upon contacting Misturah, she told him that she had used the account to settle issues between herself and her husband, one Ridwan, who is based in South Africa.”

Confronted with Daniel’s confession after a police invitation, Misturah was said to have admitted to faking her kidnapping to extort money from her husband.

PUNCH Metro further gathered that findings also led to the recovery of the iPhone 12 Pro Max, which she earlier claimed was with the kidnappers.

“The phone was recovered from one Yusuf Sodiq, 34, to whom she allegedly sold it for N380,000. She warned the buyer not to insert any SIM card into the device until a later time,” the source added.

When contacted on Tuesday, the spokesperson for the state police command, Abimbola Adebisi, confirmed the incident.

“Investigations are ongoing, and appropriate charges will be filed at the conclusion of the probe,” she said.

The incident is the latest in a growing number of self-orchestrated abduction cases uncovered by law enforcement.

PUNCH Metro reported in April 2023 that the command arrested a couple for planning a self-kidnapping.

The couple, who admitted to the crime, said they planned the self-kidnap with the hope of raising N5m to buy back their house in the Badagry area of Lagos State.

By Channels Television


The Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Ahmed Farouk, is facing intensifying scrutiny following moves to pay more than ₦200 billion in outstanding bridging claims to oil marketers, according to a press statement sent to Channels Television by the Dangote Group on Wednesday.

According to the statement, quoting industry sources, the company said the planned payment of the claims, which reportedly covered legacy obligations for 2023, 2024, and 2025, has allegedly raised serious concerns among economists and sector analysts, particularly over the absence of verifiable data to justify a significant portion of the claims.

Bridging claims are government payments made to oil marketers to compensate for the cost of transporting petroleum products from depots to various parts of the country, enabling uniform pump prices nationwide.

The statement noted that industry analysts say the benefit was rarely enjoyed by Nigerians, as petroleum products are sold at a higher rate in most parts of the country.

“In several instances, marketers submit bridging claims that do not correspond with the levies paid per litre, with discrepancies of up to 47 per cent. The current move to settle approximately N250 billion in legacy bridging claims, despite the regulator’s inability to provide empirical data to substantiate as much as 47 per cent of those claims against verified levies paid by depot owners and importers, strongly suggests the presence of irregular and potentially sinister practices.

“It is therefore imperative for the Auditor-General of the Federation to immediately halt the processing of all bridging claims until a comprehensive investigation and forensic audit are conducted to ensure that claims approved by the regulator accurately align with levies paid per litre,” the statement quoted a senior industry source.

The developments come amid a corruption petition filed by the President and Chief Executive of Dangote Industries Limited, Aliko Dangote, to the Independent Corrupt Practices and other Related Offences Commission (ICPC), alleging abuse of office, corrupt enrichment, and unlawful diversion of public funds by the NMDPRA chief.

The anti-graft agency has since confirmed receipt of the petition and announced that investigations have commenced.

In the petition dated Tuesday and submitted through his lawyer, Ogwu Onoja (SAN), Dangote urged the ICPC to arrest, investigate, and prosecute Farouk for allegedly living far beyond his legitimate means as a public servant.

According to the petition, received by the office of the ICPC Chairman, Musa Aliyu (SAN), Farouk allegedly spent more than $7 million on the education of his four children in Switzerland, purportedly paid upfront for six years, without any lawful source of income to justify such expenditure.

“That Engr Farouk Ahmed has grossly abused his office contrary to the extant provisions of the Code of Conduct for Public Officers and, in doing so, enmeshed himself in monumental corruption and unlawful spending of public funds running into millions of dollars.

“That Engr Farouk Ahmed spent without evidence of lawful means of income humongous amount of money of over 7 million dollars of public funds, for the education of his four children in different schools in Switzerland for a period of six years upfront,” the petition read.

Dangote named the four children, the Swiss schools they attend, and the specific amounts allegedly paid for each, to enable the ICPC to independently verify the claims.

The oil magnate further alleged that Farouk used the instrumentality of the NMDPRA to embezzle and divert public funds for personal gain and private interests, actions he said have fuelled public outrage and recent protests by various groups.

According to Dangote, Farouk has spent his entire adult working life in the Nigerian public sector and could not, based on his legitimate earnings, have accumulated funds close to the alleged $7 million used to finance his children’s education abroad.

“It is without doubt that the above facts in relation to abuse of office, breach of the Code of Conduct for public officers, corrupt enrichment and embezzlement are gross acts of corrupt practices for which your Commission is statutorily empowered under Section 19 of the ICPC Act to investigate and prosecute,” Dangote stated.

He added that upon successful prosecution, if found guilty, the offence attracts a prison term of five years without an option of a fine.

Dangote expressed confidence in the capacity of the ICPC, working alongside other anti-corruption agencies, to prosecute financial crimes and ensure accountability once a prima facie case is established.

He urged the Commission to act decisively, stressing that the matter is already in the public domain and that firm action would help safeguard the image of the administration of President Bola Tinubu.

He also pledged to provide documentary evidence to substantiate his allegations of corrupt enrichment, abuse of office, and impunity against the NMDPRA chief.

Meanwhile, the ICPC has confirmed receipt of the petition and assured the public that it will be investigated. The Commission’s spokesperson, John Okor Odey, acknowledged the petition in a statement.

“The Independent Corrupt Practices and Other Related Offences Commission (ICPC) writes to confirm that it received a formal petition today, Tuesday 16th December, 2025, from Alhaji Aliko Dangote through his lawyer. The petition is against the CEO of the NMDPRA, Alhaji Farouk Ahmed. The ICPC wishes to state that the petition will be duly investigated,” he said.

Allegation Against Me ‘Wild And Spurious’
Ahmed has described the corruption allegations levelled against him by Dangote as “wild and spurious”.

Ahmed, in a disclaimer issued and signed by him, noted that he would rather wait to defend himself in the presence of a formal investigative body, rather than engage in public “brickbat” with the entrepreneur.

“My attention has been drawn to a purported response I was said to have made on the recent allegations against my person.

“I hereby state categorically that the so-called statement did not emanate from me.

“While I am aware of the wild and spurious allegations made against me and my family and the frenzy it has generated, as a regulator of a sensitive industry, I have opted not to engage in public brickbat.

“Thankfully, the person behind the allegations has taken it to a formal investigative institution. I believe that would provide an opportunity to dispassionately distill the issues and to clear my name”, Ahmed’s statement read.

Fatima Buhari, daughter of late former President Muhammadu Buhari, has revealed that her father once believed his office in the Presidential Villa was being secretly monitored, forcing them to communicate by writing notes instead of speaking aloud.

The revelation is contained in a new book, ‘From Soldier to Statesman: The Legacy of Muhammadu Buhari’, written by Dr Charles Omole, director general of the Institute for Police and Security Policy Research (IPSPR) and presented in Abuja.

According to Fatima, there were moments when Buhari feared that conversations in his office were being listened to, prompting unusual precautions between father and daughter.

She recalled that during one quiet meeting, Buhari avoided speaking and instead made gestures, signalling that they should write their messages on paper.

“He touched his cheek, like he had a toothache, and signalled that we shouldn’t talk,” she said. “We wrote notes to each other, like spies in a film.”

Fatima said the former President believed there were listening devices in his office at the Villa and warned her to be cautious, explaining that he, too, was careful.

The book describes the experience not as drama, but as a coping mechanism in an environment where trust was strained and privacy uncertain.

More troubling, according to the account, was Buhari’s apparent resignation to the situation, despite being Commander-in-Chief.

Fatima questioned what influence those suspected of planting the devices — often referred to as “the cabal” — may have wielded over her father, especially as the alleged surveillance was said to have taken place within the highly secured Presidential Villa.

The book further notes that some security chiefs who served under Buhari later confirmed that strange objects were regularly discovered in the President’s office and bedroom during routine security sweeps, although how such items entered those restricted areas remained unclear.

Fatima described the atmosphere around the Villa as deeply unsettling, at times bordering on what she termed “diabolical.”

“We’re Africans. We know supernatural powers,” she said, declining to give details of certain incidents, adding that some matters were best left to divine judgment.

The book explains that Buhari’s personal disposition played a role in how he handled such situations. According to Fatima, age and faith had softened him, making him more reluctant to confront or publicly disgrace those close to him, even when trust was strained.

“He understands people’s histories — their parents, their families — and he doesn’t want to destroy hope,” she said.

She added that once Buhari trusted someone, it was difficult for him to withdraw that trust without overwhelming proof, preferring quiet corrections and warnings rather than sackings or public humiliation.

Fatima also disclosed that she lived in constant fear for her father’s safety, saying there were times when she believed attempts were made to harm him.

“There were attempts. Harm was done, but his time was not yet,” she said, without giving details.

As part of measures to manage perceived threats, she said Buhari sometimes publicly reprimanded her to create the impression of distance, even though he would later reach out privately to reassure her and her children.

“I cried in front of them,” she said, “but deep inside, he would call me and the kids.”

President Bola Tinubu, on Tuesday night, met with the leadership of the Nigeria Labour Congress (NLC) with the hope of shelving a nationwide NLC protest scheduled for today.

The President of the NLC, Joe Ajaero, led the labour leaders to the meeting on Tuesday night at the State House, Abuja.

When asked by reporters after the meeting if the protest would still proceed as scheduled, Mr Ajaero did not provide a direct response.

“If I’m insisting (on proceeding with the strike), I’m not insisting. I will communicate to you. It is not an organisation that one person rules. Let’s go back now. You have a meeting of labour and the governor’s forum. We’ll go back to the drawing board and digest all that Mr President said to us, and move forward from there,” the NLC leader said.

He said the NLC leadership would meet early on Wednesday to take a decision.

“We came for consultation with the president, and we are finished. So, we have to go back to our meeting and then continue tomorrow. By tomorrow, we will get the outcome,” he said.

The NLC is expected to announce early on Wednesday if the protest would proceed or not.

The meeting was also attended by the chairman of the APC governors’ forum, Hope Uzodimma; Governor of Edo State, Monday Okpebholo; Governor of Kebbi State, Nasir Idris and the Minister of State for Labour, Nkeiruka Onyejeocha.

Farouk Ahmed, the chief executive officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), said a statement circulating in his name, responding to recent allegations by Aliko Dangote, president and chief executive of Dangote Industries Limited, did not emanate from him.

Mr Ahmed, in a disclaimer sent to PREMIUM TIMES early on Wednesday, explained that while he is aware of the “wild and spurious allegations” made against him and his family and the frenzy it has generated, he has chosen not to engage in public brickbat.

He said he is thankful that the person behind the allegations has taken it to a formal investigative institution, adding that he believes that would provide an opportunity to dispassionately distill the issues and clear his name.

“My attention has been drawn to a purported response I was said to have made on the recent allegations against my person. I hereby state categorically that the so-called statement did not emanate from me.

“While I am aware of the wild and spurious allegations made against me and my family and the frenzy it has generated, as a regulator of a sensitive industry, I have opted not to engage in public brickbat.

“Thankfully, the person behind the allegations has taken it to a formal investigative institution. I believe that would provide an opportunity to dispassionately distill the issues and to clear my name,” Mr Ahmed said.


The allegations

On Sunday, Mr Dangote accused Mr Ahmed of economic sabotage, which he said is undermining domestic refining in Nigeria.

Speaking at a press conference at the Dangote Petroleum Refinery, he accused the leadership of the NMDPRA of colluding with international traders and oil importers to frustrate local refining through the continued issuance of import licences for petroleum products.

Mr Dangote claimed that Mr Ahmed was living beyond his legitimate means, adding that four of his children attend secondary schools in Switzerland at costs running into several million of dollars. He said such expenditure raised serious questions about potential conflict of interest and the integrity of regulatory oversight in the downstream petroleum sector.

On Monday, he expanded his allegations, accusing Mr Ahmed of corruption and misappropriation of public funds, and providing estimated figures for his children’s education abroad.

According to him, Mr Ahmed spent about $5 million on secondary education and upkeep over six years, and an additional $2 million on tertiary education, including $210,000 for Faisal Farouk’s 2025 Harvard MBA.

On Tuesday, Mr Dangote submitted a petition to the anti-graft agency, ICPC, through his lawyer, Ogwu Onoja, a Senior Advocate of Nigeria (SAN), calling for Mr Farouk’s arrest, investigation, and prosecution for allegedly living above his means as a public officer.

The petition, addressed to the Independent Corrupt Practices and Other Related Offences Commission (ICPC) Chairman Musa Aliyu, alleged that Mr Ahmed “spent without evidence of lawful means of income amounting to over $7 million for the education of his four children” in Switzerland. It provided the children’s names, schools, and specific amounts for verification.

Mr Dangote further accused Mr Ahmed of using his position to embezzle public funds, prompting protests from civil society groups.

He cited section 19 of the ICPC Act, which empowers the commission to investigate and prosecute corrupt practices, noting that a successful prosecution could result in a five-year jail term without an option of fine.

He urged the ICPC to act decisively, stressing that he remained available to provide evidence supporting his claims.