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The National Working Committee (NWC) of the Peoples Democratic Party (PDP) has approved that the earlier postponed party’s zonal congress in the South South Zone will now hold on Saturday, April 12, 2025.
Hon. Debo Ologunagba, National Publicity Secretary of the PDP in a statement also said the NWC has approved the shifting of the South West and North Central Zonal Congresses from the earlier scheduled date of Saturday, March 22, 2025 to Saturday, April 12, 2025.
PDP said the zonal congresses will hold simultaneously in Port Harcourt, Rivers State (South South Zone); Ibadan, Oyo State (South West Zone) and Jos, Plateau State (North Central Zone) to elect the executives officers and national ex-officio members for the respective zonal chapters in line with the constitution and guidelines of our great party.
The NWC also “Charges all aspirants, leaders, critical stakeholders, teeming members of our party in the respective zones, the Independent National Electoral Commission (INEC), security agencies and the media to note the scheduled date of Saturday, April 12, 2025 for the zonal congresses for South South, South West and North Central zof our party and be guided accordingly.”
[DailyTrust]
The six months suspension of Senator Natasha Akpoti-Uduaghan following her allegations against Senate President, Godswill Akpabio has drawn debates on gender, power, and political fairness in Nigeria.
Though the Senate had said her suspension was not related to her fight with Akpabio but due to her alleged incessant violation of the senate rules, many Nigerians, particularly those from the north have continued to raise concerns on the place of women in Nigerian politics.
While some view the current development as a reflection of the challenges female politicians face, others see it as a political dispute with broader implications for the Senate’s integrity.
On March 6, 2025, the Senate suspended Akpoti-Uduaghan, citing violations of legislative decorum.
The Senate’s ethics committee reported that she engaged in unruly behavior, made disrespectful remarks against Senate leadership, and defied committee summonses.
Specifically, she was accused of refusing to sit in her assigned seat, speaking without recognition, and making abusive comments. These actions were deemed violations of Sections 6.1 and 6.2 of the Senate Standing Orders 2023 (As Amended).
Akpoti-Uduaghan, prior to her suspension, submitted a petition accusing the Senate President of sexual harassment, abuse of office, and obstruction of legislative functions.
However, the Senate’s ethics committee dismissed her petition, citing procedural rule violations.
Also, Akpabio publicly denied the allegations, stating that he had never harassed Akpoti-Uduaghan or any female senator.
Shortly after this, the Senate announced Akpoti-Uduaghan’s six-month suspension, leading to speculation that it was a retaliatory move to silence her.
Reacting to the allegations of bias on Saturday, Senate Leader, Opeyemi Bamidele issued a statement insisting that Akpoti-Uduaghan was not suspended because of her petition but for her consistent misconduct and blatant disregard for Senate rules.
He urged the public and the media to disregard false narratives suggesting that the suspension was linked to her petition against Akpabio.
He emphasized that the decision was necessary to restore order and maintain the integrity of the Senate.
The timing of her suspension, coming shortly after her sexual harassment petition, has led to widespread public skepticism.
Many Nigerians, including opposition politicians and activists, believe the action was politically motivated and aimed at silencing her.
Former Vice President Atiku Abubakar and the Peoples Democratic Party (PDP) condemned the suspension, describing it
as suppression.
Atiku argued that the decision undermined the principles of fairness, representation, and gender inclusivity.
“Women should be empowered to fully participate in governance, not stifled,” he stated.
Also, organisations such as the Civil Society Legislative Advocacy Centre (CISLAC) criticised the Senate’s decision to suspend Senator Natasha Akpoti-Uduaghan for six months, calling it an unconstitutional move that undermines democracy and legislative independence.
The criticism continued with organisation like the Coalition for Women in Governance and the Women in Management, Business, and Public Service who threatened to mobilise women for a massive protest if the decision was not reversed.
This prompted a response from the Federal Government on Friday, stating its intention to intervene in the crisis.
Minister of Women Affairs, Mrs. Iman Suleiman-Ibrahim, described the situation as unfortunate, emphasizing the need to protect female representation in the Senate.
“In the last Assembly, we had nine female senators. We don’t want to see a decline in that number,” she said.
“We will work towards resolving this issue peacefully by engaging all stakeholders and urging them to temper justice with mercy.”
However, harassment allegations in the Nigerian Senate are not new. One of the most controversial incidents occurred in July 2016, during a closed-door session of the Senate, when a heated exchange ensued ybetween Senator Dino Melaye and Senator Oluremi Tinubu.
Reports indicated that Melaye, who was representing Kogi West at the time, allegedly threatened to assault and impregnate Tinubu, who was then representing Lagos Central.
According to multiple sources, Melaye was quoted as saying he would “beat up” and “impregnate” her, remarks that were widely condemned as sexist and inappropriate.
Tinubu, who is now Nigeria’s First Lady, accused Melaye of making threatening and demeaning comments toward her. She described the incident as an act of verbal assault and intimidation, claiming that Melaye even attempted to physically attack her during the altercation.
Melaye, however, denied the allegations, insisting that he never physically assaulted Tinubu.
He argued that his words were taken out of context and dismissed the controversy as a political disagreement rather than an issue of harassment.
Despite the outrage that followed the incident, no disciplinary action was taken against Melaye, and the Senate did not officially sanction him.
Women leaders react to Akpabio-Natasha controversy
Hajiya Fatima, the All Progressives Congress (APC) women leader in Kano, in an interview with DAILY POST described the controversy as unfortunate and damaging to the image of women in politics.
She acknowledged that the issue could discourage more women from joining politics, especially in Northern Nigeria, where cultural and religious factors already limit female participation.
“Allegations like this paint a negative picture of women in politics. It reinforces the wrong perception that women cannot handle leadership positions without facing harassment or intimidation,” she said.
However, Fatima noted that the APC had made efforts in the past to support women’s inclusion, particularly under the administration of former Governor, Abdullahi Ganduje.
“During Ganduje’s time, women were given more opportunities. But things have changed now, and we need more policies to encourage women,” she added.
She recalled that during Ganduje’s tenure, his wife advocated a 60-40 representation policy favoring women. Which means that women should be higher than the men in positions because women are trustworthy and even the votes come more from women.
Hajiya Fatima emphasized that when a woman is determined to accomplish something, she does it well. She noted that since women play a significant role in election campaigns and contribute to electoral victories, they should not be sidelined when political positions are being allocated. Unfortunately, she added, that is not the case today.
Also, Hajara Ado Alhaji, the NNPP women leader in Shanono Local Government Area, acknowledged that harassment and intimidation were common tactics used to sideline women in politics.
She, however, revealed to DAILY POST that having spent over 30 years in politics without significant progress, she attributed the challenges faced by female politicians to favoritism and party politics.
“I have been in politics for decades, but I still don’t know where I stand. The system favors those with connections, not those with capacity,” she lamented during an interview with DAILY POST on Wednesday.
Political analyst speaks on Akpabio-Natasha’s controversy
Hassan Ibrahim, a political analyst, in an interview with DAILY POST described the controversy between Senate President, Godswill Akpabio and Senator Natasha Akpoti-Uduaghan as a troubling development with serious implications for the integrity of the Senate and public confidence in the institution.
“This issue is not just about two individuals,” Ibrahim stated.
“It has the potential to cast a shadow over the entire Senate as an institution. The Legislature is a key arm of government, elected by the people to make laws and represent their interests. When such allegations emerge especially involving the Senate President, it raises serious concerns about the sanctity of the Senate and the democratic process.”
Regarding Senator Natasha’s allegations of sexual harassment against Akpabio, Ibrahim noted that the claims must be handled carefully to avoid undermining public trust.
“These are heavy allegations. Whether true or false, they need to be addressed urgently to clear any doubts and ensure that the institution remains credible,” he said.
“Sexual harassment allegations like this can make things even harder for women in politics. If such issues keep coming up, many women especially from the North will be discouraged from participating due to societal and family pressures,” he explained.
Despite this, he commended Senator Natasha for speaking out.
“What Natasha did by bringing this issue to light might encourage more women in politics to speak up about their experiences,” he said.
Ibrahim further highlighted the financial burden as a major obstacle for women seeking political offices.
“Politics in Nigeria is very expensive. The cost of nomination forms alone is discouraging. The major political parties, especially the ruling APC and the main opposition PDP, have set their nomination fees so high that many women cannot afford them,” he noted.
He also pointed out that even women who can afford the costs are often discouraged by party politics. “Even if a woman buys the form, there is always the fear that she won’t be nominated because of godfatherism and internal party politics,” he explained.
Beyond financial barriers, Ibrahim emphasized that women in politics face intimidation and harassment.
“A lot of women who contest elections face threats and intimidation. Some are pressured into making compromises. That is why many capable women shy away from politics,” he said.
When asked why Northern Nigeria has fewer female politicians compared to the South, Ibrahim pointed to cultural and educational barriers.
“In the North, women are traditionally expected to stay within the domestic sphere, limiting their exposure to public life. Even highly educated women often avoid politics due to societal restrictions,” he said.
He emphasized that education and economic empowerment are key to increasing women’s participation.
“Without education, women cannot play any key role in politics. The good news is that more Northern women are now attending schools, but we need to do more to encourage their involvement in governance,” he stated.
He praised the Jigawa State governor’s policy of providing free education for females from primary to tertiary levels, describing it as a positive step toward creating a level playing field for women to compete and participate in politics.
He called on the Independent National Electoral Commission (INEC) to enforce policies that support female politicians.
“INEC should ensure that political parties reserve a certain number of positions for women. This will help increase female representation in government,” he added.
“Political parties should also consider granting waivers for female politicians. Additionally, parents should instill leadership qualities in their daughters from an early age, encouraging them to believe that they can excel and even outperform their male counterparts,” he concluded.
[DailyPost]
The Nigeria National Petroleum Company (NNPC) Limited has discontinued the naira-for-crude deal with Dangote Petroleum Refinery and other local refineries, TheCable understands.
The development could trigger an uptick in the pump price of petrol as local refineries — including Dangote — will now rely on international suppliers for feedstock, gulping huge costs in dollars.
The NNPC reportedly told the refineries it has forward-sold all its crude, although production is now said to be higher than when the deal commenced.
Nigeria officially commenced the sale of crude oil and refined petroleum products in naira to local refineries on October 1, 2024.
The move was meant to improve supply, save the country millions of dollars in petroleum products imports, and ultimately reduce pump prices.
However, multiple sources said the initiative will be suspended until 2030.
A high-level source confirmed that the NNPC has notified Dangote Petroleum Refinery and other local refiners that it will no longer provide crude oil to them, as it has forward-sold all of its crude supplies until 2030.
Despite recent attempts to bolster domestic refining capacity, the country has spent “over $4.3 billion importing 6.38 billion litres of premium motor spirit (petrol) and automotive gas oil (diesel) in just five months”, industry sources said.
The NNPC is said to be among the entities still importing products, an act backed by the recent deregulation of the downstream sector.
Another source said at a time when Nigerians are hoping for further price reductions, “the NNPC unilaterally decided to end the naira-for-crude initiative”.
TheCable has contacted the NNPC for comments.
While the Dangote refinery has declined to comment on the NNPC’s recent move, an official said the company will carefully assess its options and decide on the appropriate course of action.
The decision to stop the naira-based crude supply might lead to volatility in the foreign exchange (FX) market, thereby eroding recent gains, according to market analysts.
THE TROUBLED CRUDE-FOR-NAIRA DEAL
In October 2024, the federal executive council (FEC) approved the allocation of 450,000 barrels of crude intended for domestic consumption to be sold in naira to Nigerian refineries, with the Dangote refinery serving as a pilot project.
Under the scheme, the NNPC was expected to supply 385,000 barrels per day of crude oil to the Lekki-based refinery.
However, the national oil firm has been accused of consistently failing to meet the allocation.
In November 2024, the refinery said the crude-for-naira initiative was faltering, as it was still unable to secure adequate supplies.
“We need 650,000 barrels per day, (state oil firm NNPC Ltd) agreed to give a minimum of 385,000 bpd but they are not even delivering that,” Edwin Devakumar, the vice-president of Dangote Industries Limited (DIL) had said.
He further described the NNPC’s supply as “peanuts”.
• Lagos directorate tops commission’s 4,111 convictions with 685
The Economic and Financial Crimes Commission (EFCC) has said the over N50 billion recovered from fraudsters in 2024 was among the funds invested into the Nigerian Education Loan Fund (NELFUND).
The News Agency of Nigeria (NAN) reports that this information is based on the EFCC’s 2024 statistical report made available to reporters yesterday in Abuja.
NAN also reports that NELFUND was established through the Students Loans (Access to Higher Education) Act, 2024, signed into law by President Bola Ahmed Tinubu on April 3, last year.
The initiative is a programme established by the Federal Government of Nigeria to break financial barriers in higher education.
In its report, the anti-graft agency described its activities in 2024 as its greatest achievements, especially its largest single-year asset recovery since its establishment in 2003.
The statistics indicated that the N50 billion granted to NELFUND by the Federal Government was sourced from the monetary recoveries of the EFCC.
“Such monetary recoveries include N364.6 billion; $214.51 million; 54,319 euro; 31,265 euro; Canadian dollar (CAD) $2,990 and Australian dollar (AUD) $740.00.
“Others are: the French franc (CFA) 7,821,375, United Arab Emirates (UAE) Dirham 170, Saudi Arabian 5,115 Riyals, Japanese W73,000,105 Yen, Ghana’s cedi (GH¢) 225 and South Africa’s 50,000 Rands,” it said.
According to the commission, some of the monetary recoveries have been reinvested by the Federal Government in initiatives that provide significant benefits to the Nigerian people.
The anti-graft agency attributed its success to the dedication of its officers and the enabling environment provided by management and stakeholders.
Also, the EFCC has said it secured 4,111 convictions in 2024 – its highest in its 22-year history.
These were from 15,724, petitions, 12,928 investigations, and 5,083 prosecutions.
Leading the pack is the Lagos Zonal Directorate with 685 convictions from 3,224 petitions, 2,454 cases investigated, and 786 cases filed in court.
This is followed by Enugu with 516 convictions from 545 cases prosecuted and Ibadan with 501 convictions from 786 prosecutions.
Others are Benin with 412 convictions, Ilorin with 230, Kaduna with 273, Gombe with 147, Kano with 148, Abuja with 140, Makurdi with161, Maiduguri 95, Port Harcourt 185, Sokoto 108 and Uyo with 220 convictions.
Also last year, the commission recorded its best-ever performance since its inception in 2003 with the single largest asset recovery ever, and significant money forfeitures.
An appraisal of the commission’s operations in the last 12 months shows that since January 2024, the EFCC recorded unprecedented volumes of, and breakthroughs in cases involving Advance Fee Fraud, Money Laundering, and Cybercrime, among others, across all its Zonal Directorates in the country.
The EFCC monetary recoveries for the year include N364,597,370,151.35, US$214,513,439.55, UK£54,318.64, 31,265, Euros, CAD$2,990 and AUD $740.00.
Others are CFA7,821,375, UAE DIRHAM 170, RIYALS 5,115, W73,000, 105 Yen, GH¢225 and RANDS 50.
Recovered assets in 2024 include the forfeiture to the Federal Government of over 750 duplexes and other apartments in late 2024, which is the single largest recovery by the Commission since its inception.
The assets include 173 vehicles, cash sums of N9,477,977,318.78, $2,605,858.30 and UKP1,600.
Others include cryptocurrencies of 13.37BTC worth about $572,992.86; ETHEREUM worth $13,353.06, GREEN SATOSHI token worth $6, 1,002.547631, among others.
The rest are 378 electronics, one factory, one hotel, two gold chains, 14 parcels of land, petroleum products and 70 tons of unidentified solid minerals.
According to the commission, some of the monetary recoveries have been reinvested by the Federal Government in initiatives that provide significant benefits to the Nigerian people.
An example is the N50 billion granted to the Nigerian Education Loan Fund (NELFUND) from the recoveries.
Apart from contributing to various developmental projects, enhancing public welfare and promoting sustainable growth across the country, the initiatives also contribute to improving the quality of life for Nigerians and support the country’s long-term development goals.
[TheNation]
Nigeria’s petrol imports surged in 2024, doubling despite an increase in domestic refining capacity, highlighting the country’s continued reliance on imported fuel, according to findings by The PUNCH.
The latest data from the foreign trade statistics report of the National Bureau of Statistics showed that the cost of petrol imports rose by 105.3 per cent to N15.42tn in 2024 from the N7.51tn recorded in 2023.
This sharp increase in fuel import expenditure came at a time when expectations were high for a decline in reliance on foreign supply following significant investments in local refining.
The commencement of operations at the 650,000-barrel-per-day capacity Dangote Petroleum Refinery last year and ongoing revival efforts at the other local refineries were expected to reduce import dependence.
However, existing data suggests that these refineries have yet to reach full production capacity to meet domestic demand.
Over the past five years, Nigeria’s petrol import bill has steadily risen. In 2020, the country spent N2.01tn on fuel imports, more than doubling to N4.56tn in 2021.
By 2022, the figure further increased to N7.71tn before slightly declining to N7.51tn in 2023. However, in 2024, fuel import expenditure surged to an all-time high of N15.42tn, marking the largest petrol import bill in Nigeria’s history.
The PUNCH had earlier reported that despite the commencement of petrol production by three major refineries in Nigeria, oil marketers had continued to import and distribute the product nationwide.
Marketers imported 2.3 billion litres of petrol between September 11 and December 5, 2024. The continued importation of petrol is contrary to a public announcement by some group of marketers who earlier stated their intention to halt petrol imports and focus on domestic supply.
The local refineries are the 650,000 barrel per day capacity Dangote Petroleum Refinery located in Lagos and the 210,000bpd capacity Port Harcourt Refining Company in Rivers State. PHRC currently produces from its old plant with a capacity of 60,000bpd.
Also, the Warri Refining and Petrochemical Company commenced operations in December 2024. PHRC and WRPC are both under the management of the Nigerian National Petroleum Company Limited.
The PUNCH also reported that despite improved domestic refining capacity in Nigeria, major oil marketers have continued to import refined petroleum products, as they imported 6.38 billion litres of Premium Motor Spirit (petrol) and Automotive Gas Oil (diesel) in the past five months.
But independent marketers and retailers, through their various associations, kicked against the development, as the importation of these commodities gulped about N6tn, a development that further piled pressure on the country’s forex.
The Executive Secretary of the Major Energies Marketers Association of Nigeria, Clement Isong, earlier said that importation promotes competition, helping drive down the price of PMS.
Commenting on fuel importation, he explained, “What importation does for us is that it contributes to the market’s competitiveness. The price movements you are enjoying and the market competition are the result of importation. Importation is useful.
“We want local refining. Let’s be clear. We want local refining. What ensures that we have the most competitive price is that locally refined fuel prices have to compete with imported prices. That is what keeps our prices at the pump as low as possible,” the MEMAN leader asserted.
The Martin Amaewhule-led Rivers State House of Assembly, on Sunday, asked Governor Siminalayi Fubara to channel his invitation to the members properly and not through social media.
The reaction followed the invitation to the Assembly to a meeting with the governor at the Government House, on Monday (today).
Fubara, through the Secretary to the State Government, Dr Tammy Danagogo, said the meeting, scheduled for 10 am, was expected to address key issues, including the provision of sitting space for the Assembly, payment of outstanding allowances, and the presentation of the 2025 budget.
The 27 lawmakers of the Rivers State House of Assembly loyal to the former governor, Nyesom Wike, may, however, reject the invitation except their condition is met by the governor.
One of the lawmakers, Isaiah Opuende who represents Akuku-Toru Constituency 2, blasted the governor for inviting the Assembly members via social media.
Opuende urged the governor to communicate with them appropriately, adding that it was surprising that Fubara would call them after he had told them at several fora to “dey their dey.”
He stated, “It is time for us to determine our dey. When the ‘dey your dey’ started, our principal said the time for our own ‘dey your dey’ will come. Now, our ‘dey your dey’ has come.
“Dey your dey make we dey our dey. How can you wire a letter and post it on social media and expect us to honour it? You know we are not kids. The governor should properly write to the Assembly. That’s all. Thank you.”
Similarly, some former local government chairmen who served during the tenure of Wike were also seen in a viral video, singing and mocking Fubara over the invitation extended to the Assembly members.
A former chairman of Ikwerre LG, Dr Samuel Nwanosike, with scores of other dancing and singing in a mocking manner, asked the governor not to disturb the Speaker, Amaewhule.
They sang repeatedly, “Dey your dey, make I dey my dey, dey your dey, nobody worry Amaewhule.”
Following the Supreme Court judgment affirming their legitimacy, the lawmakers, in their first sitting, urged Governor Siminalayi Fubara to present the 2025 budget. They also demanded that he submit nominees for commissioner and other appointments, insisting that those currently serving in the cabinet lacked legal backing.
Additionally, they summoned the chairman and commissioners of the Rivers State Independent Electoral Commission to appear before them on Monday.
However, the requests were ignored, as Commissioner for Information, Joseph Johnson, stated that the government was awaiting the Certified True Copy of the Supreme Court judgment before taking action.
The CTC was eventually released on Thursday evening and widely published in national dailies on Friday.
In a bid to establish a relationship and woo the lawmakers, the SSG, Danagogo, wrote a letter addressed to the Speaker, Amaewhule, on Sunday, titled, “Meeting between the Governor of the Rivers State and the Honourable Members of the Rivers State House of Assembly.”
Danagogo stated in the letter that the meeting became necessary following the governor’s receipt of the CTC of the Supreme Court judgment.
The letter said the discussion would centre on the provision of a space for the lawmakers to be sitting, presentation of the 2025 budget, among others.
The statement read, “I hereby write in furtherance of His Excellency’s promise stated in my letter dated 5 March 2025 to notify you that His Excellency has received the Supreme Court judgment, and has, therefore, directed me to invite you and your colleagues – the honourable members of Rivers State House of Assembly, to a meeting to discuss:
“Provision of a befitting space for the Assembly’s sittings, payment of all outstanding remuneration or allowances of the Honourable members;
“Presentation of budget and sundry matters. Any other matter(s), as may be necessary, to chart the way forward in the best interest of the state.
“Sequel to the above, I hereby humbly invite the Rt. Hon. Speaker, and all the members of the Rivers State House of Assembly to a meeting with the Governor as follows”
The invitation of the lawmakers by the governor came as the 72-hour ultimatum given to the RSIEC chairman to appear before the House expires today.
Amaewhule had, during plenary on Friday, said the Assembly had taken legislative notice of Fubara’s failure to forward names of his commissioner nominees to the House for screening.
Efforts to reach the Commissioner for Information and Communications, Johnson, failed as his mobile line was not connecting as of the time of filing this report.
APC hails invitation
The development was hailed by the Chief Tony Okocha-led All Progressives Congress and the Emeka Beke-led faction, loyal to former Minister of Transport, Rotimi Amaechi.
The Okocha faction, loyal to the Minister of the Federal Capital Territory, Nyesom Wike, described Fubara’s invitation to the lawmakers as a welcome development.
The state Publicity Secretary of the party, Chibuike Ikenga, disclosed this during a telephone chat with our correspondent on Sunday.
Ikenga expressed the hope that the move would lead to a resolution of the crisis between the two arms of government in the state.
He stated, “Our position as a party is to the effect that whatever will bring lasting peace to Rivers State is what we support.
“And the two sides, the executive and the legislature, should make all these overtures to engender confidence building which of course will lead to a final resolution of this crisis.
“The Supreme Court had already put a nail on it, but interpersonal relationships between the leaders of the two arms of government are encouraged. There are overtures expected from the two sides which have quarrelled for close to two years.
“That the Rivers State House of Assembly had written letters to the governor and the governor has also responded and the governor has written, inviting them as part of the follow-up of the earlier letter, we welcome all these processes and procedures that will lead to final resolution.”
Also, the Chief of Staff to the Beke-led APC, Chizi Entire, described the development as a win-win situation.
He commended the governor for keeping to his promise of implementing the Supreme Court judgment.
“The letter written by the governor to the Assembly shows that he is a man who believes in the rule of law and who can also maintain his stand and do what he says. This is the first move to ensure orderliness in the state. The governor sees that the people matter and not him.
“So making peace with the lawmakers is the best thing he can achieve for now. When it is achieved, I think the state will move forward.
“The Supreme Court has recognised the Martin Amaewhule-led House of Assembly and the governor does not have any option but to obey the judgment of the Supreme Court.
“It is a win-win. Nobody is a loser and nobody is a winner,” he said.
Ex-LG chairs
Former chairmen of Ijaw-dominated local government areas in Rivers State have condemned threats by non-state actors over the political crisis in the state.
Some groups had threatened to disrupt oil production and cause a crisis in the state if Fubara was impeached.
The former campaign coordinators for Fubara in their various local government areas called on the police, the Department of State Security and other security agencies to enforce the judgment of the Supreme Court in the interest of the people.
The former members of the Association of Local Government Nigeria said Fubara failed to take the opportunity offered to him by the presidential intervention to end the crisis.
The Ijaw leaders, who said they remained the substantive chairmen of their local government areas, following their aborted tenure extension, said they heaved a sigh of relief that the Supreme Court had ended the crisis.
“Unfortunately, our attention was drawn to both subtle and frontal threats to the government, instigated by some individuals and organisations, who ostensibly are beneficiaries of the crises.
“It’s even worse that they use the Ijaw identity to fuel the embers of violence and intimidation against the Federal Government.
“In this category are organisations such as the Ijaw National Congress and some renegades of the Ijaw Youth Council.
“These organisations stated publicly that the Ijaws will resort to violence against critical national oil infrastructure if Governor Fubara is impeached.
“This implies that these pro-Ijaw ethnic organisations have not read the Supreme Court judgment they so condemn,” the LG chairmen said.
The statement was signed by Daniel O. Daniel, Abua/Odual; Dr Rowland C. Sekibo, Akuku Toru; Dr Erastus C. Awortu, Andoni; Onengiye George, Asari Toru; Michael John Williams, Degema; Chief Vincent Nemioboka, Ogu Bolo; Akuro Tobin, Okrika; Tamunotonye Douglas, Vice-Chairman, Port Harcourt City and Ubile Jack, Vice-Chairman, Ahoada West.
They said: “We condemn those empty threats and urge the Federal Government and Nigerians to disregard such comments which project the Ijaws in a bad light.
“Moreso, it is a fact that these threats attack the sensitivity of people from other ethnic groups in Rivers State who also voted for Governor Siminalayi Fubara.
“We have also seen videos and press statements of supposed stakeholders, including Prof Benjamin Okaba, Alhaji Mujaheed Asari Dokubo threatening the energy security of the Nigerian state if attempts at implementation of the judgment lead to the impeachment of the governor.”
The ex-LG chairmen queried: “Did the judgment call for Fubara’s impeachment? The simple answer is no. Where were these persons who claimed to be fighting the so-called Ijaw fight when the governor truncated the tenure and seized the allocation of the LGAs including those of us who are fellow Ijaws?
“Where were they when he stopped the salaries of the Assembly members and even made conscious attempts to use the courts to impeach them, including 10 Ijaw sons? They were all unconcerned because they were benefitting from the crisis and are not ready to stop benefitting from it.”
The ex-council bosses assured Nigerians that they would mobilise the support base to protect oil installations situated in their respective communities.
“We call on Governor Fubara to obey and ensure the full compliance with the decisions of the Supreme Court.
“As everybody is aware, impeachment is a profound constitutional prescription to penalise any erring governor or president in a presidential system of government.
“The Ijaws should at this point ensure that their beloved son does not carry out any act that will necessitate the deployment of this constitutionally approved procedure to check his excesses,” the statement read.
[Punch]
The Economic and Financial Crimes Commission has secured a total of 4,111 convictions in 2024.
According to the commission, the conviction was the highest number in any operational year since its inception.
The commission also recovered significant sums across multiple currencies, totaling $214.5m, N364.6m, £54,318, €31,265, and various other amounts in different currencies.
This was contained in a document obtained by The PUNCH.
“In 2024, the commission secured 4,111 convictions. This is the highest number of convictions secured in any operational year from inception to date. This laudable achievement is attributable to the dedication of our officers and the enabling environment provided by the management and stakeholders of the commission.
“The commission remains committed to enhancing the knowledge and capacity of its prosecutors and the judiciary,” the document stated.
Beyond monetary recoveries, the EFCC also seized significant assets, including 70 tons of unidentified solid minerals and various cryptocurrencies, including Ethereum, Green Satoshi Tokens, and Tether coins, among others.
“$ 214,513,439.55, N364,597,370,151.35; £54,318.64 ; €31,265.00; CAD $2,990.00; AUD $740.00; CFA 7,821,375.00; UAE DIRHAM 170.00 ; RIYALS 5,115.00 ; W 73,000.00 ; ¥ 105.00 ; GH¢ 225.00 and RAND 50.00 were recovered in 2024.
“Assets recovered are 70 tons of unidentified solid minerals; 40,844,094 units of shares worth about N1,055,190,044.55 and $4,414,801.76; 13.37BTC worth about $572,992.86, 5.97886094 ethereum worth $13,353.06, 298.4770071 green Satoshi token worth $6, 1,002.547631, ($1,002.22), sum of N2,699,233 and N9,477,977,318.78, $2,605,858.30 and GBP1,600, cash among others.
“Some of the monetary recoveries made by the commission have been reinvested by the Federal Government into initiatives that provide significant benefits to the Nigerian people.”
The EFCC stated that the most prevalent cases investigated in 2024 involved advance fee fraud, money laundering, and cybercrime.
It added that several socio-economic factors, including rising unemployment, the pursuit of quick wealth, and weak regulatory frameworks, contributed to the high volume of the cases.
The anti-graft agency said, “The commission is actively advancing its investigative efforts across all zonal directorates. In 2024, cases involving advance fee fraud, money laundering, and cybercrime were the most prevalent in our investigations.
“The high volume of these cases can be attributed to several factors, including rising unemployment, a desire for quick wealth among the youth, a large informal economy, and weak regulatory frameworks”
The commission also raised the alarm that
cybercriminals are constantly evolving their tactics, utilising AI-driven fraud.
“Additionally, cybercriminals are continuously evolving their tactics, incorporating innovations like AI-driven fraud, deepfakes, and advanced phishing schemes,” it stated.
Operatives of the Abia police command have reportedly found the remains of three individuals, including an officer, after a violent attack on Azumini Ndoki community in Ukwa east LGA of the state.
Zagazola Makama, a counter-insurgency publication focused on the Lake Chad region, quoted intelligence sources as saying that the victims were among those abducted on March 4 when armed men, in a Toyota Sienna, ambushed a convoy escorting Obasi Lawson, a businessman.
The publication said the attackers shot and killed the driver and another passenger before fleeing with the businessman and a police officer from his security team.
Makama said police operatives, after days of extensive search operations, recovered two bodies on March 8, later confirmed to be the driver and a civilian passenger.
The publication said further investigations led to the discovery of Tanko Natip’s remains in a nearby bush.
Natip, an assistant superintendent of police (ASP), had his body photographed and moved to Okeikpe Mortuary in Ukwa west.
Makama stated that the whereabouts of Lawson remain uncertain as tactical teams, aided by tracking technology, continue searching for him.
The source added that security has been strengthened in the area, with more tactical teams deployed to deter further attacks and monitor the movements of the suspected abductors.
…As oil price intensifies decline
•Bonny light hits new low
•Decline will continue this week – Analysts
•Global energy analysts give reasons for the decline
The renewed trade war between the United States of America, USA, and some developed economies has put more pressure on crude oil prices bringing more threat to Nigeria’s 2025 budget.
Global crude oil market closed lower with Bonny Light, Nigeria’s premium crude oil grade, dropping to $70.3 per barrel, weekend, indicating significant 13 percent decline since the 2025 budget was passed and trend to about 6.7 percent below the 2025 budget benchmark of $75 per barrel.
Industry experts told Financial Vanguard that the downward trend would continue this week given the root cause.
The renewed downward trend began early last week when US President, Donald Trump, signified his intention to sustain tariff war across selected major global economies.
This came at same time the Organization of the Petroleum Exporting Countries and allies including Russia, OPEC+, decided last Monday to increase output for the first time since 2022, pressuring crude prices further down.
Oil industry analysts told Financial Vanguard that with N20.35 trillion or 56 percent of Federal Revenue expected to come from oil out of the N36.35 trillion revenue target, the decline in crude oil price has raised the possibility of increased budget deficit for the year, and possibly increase in borrowing to fund deficit spending.
International energy analysts had stated last weekend that oil prices settled down for the fourth consecutive session on Wednesday after U.S. crude oil stockpiles posted a larger-than-expected build up, adding a further headwind as investors worried about OPEC+ plans to increase output in April and U.S. tariffs on Canada, China and Mexico.
According to reports from Investopedia, Oil markets have been rattled in recent days by President Trump’s imposition on Tuesday of a 25 percent tariff on Canadian and Mexican goods. Trump also doubled tariffs on Chinese imports to 20 percent.
“Oil prices have been driven down from Monday’s OPEC+ decision to increase oil production starting in April. The gradual increases will unwind the production cuts the group of major oil producers committed to in November 2023.
“Lower oil and gas prices were a major focus for Trump on the campaign trail last year. He promised America would “drill, baby, drill” to reduce transportation costs and, ultimately, temper inflation. Oil prices have fallen steadily under Trump, with WTI down about 15% since his inauguration, and fuel prices have declined marginally over the past month.”
A survey by Reuters has revealed that Nigeria is pumping 70,000 barrels per day above the quote allocated by OPEC.
According to the survey, OPEC oil output rose in February, as Iranian exports held strong, despite renewed attempts by the United States of America to curb the flows.
“The OPEC nations pumped 26.74 million barrels per day last month, up 170,000 bpd from January’s revised total, the survey showed on Wednesday, with Iran and Nigeria posting the largest gains.
“OPEC’s biggest rise, of 80,000 bpd, came from Iran, the survey found, with output of 3.30 million bpd. This matched September’s figure which was the highest since 2018, the Reuters survey showed.
“The second-largest gain in output came from Nigeria where exports rose and domestic usage increased at the Dangote refinery. Nigeria is pumping 70,000 bpd above its OPEC+ target.”
Foreign news agencies reported that prices pared some losses after hitting multi-year lows earlier in the session – Brent sank to $68.33, its lowest since December 2021, and U.S. crude futures touched $65.22, its lowest since May 2023.
“Pulling prices down, U.S. crude stockpiles rose more than expected last week amid seasonal refinery maintenance, while gasoline and distillate inventories fell due to a hike in exports”, the USA’s Energy Information Administration (EIA) said.
According to the EIA, crude inventories rose by 3.6 million barrels to 433.8 million barrels in the week, far exceeding analysts’ expectations in a Reuters poll for a 341,000-barrel rise. Brent fell more than $2 after the data was released.
“The imposition of tariffs on China, Canada and Mexico by the U.S. sparked swift reprisals from each nation that increased concerns over a slowdown in economic growth and the consequent impact on energy demand,” Ashley Kelty, an analyst at Panmure Liberum, said.
JP Morgan analysts said a 100-basis-point slowdown in the U.S. GDP growth rate could potentially reduce global oil demand growth by 180,000 bpd, analysts said in a note.
For Nigerian energy sector analysts they key problem is with Nigerian government’s error in making benchmark projections on both oil price and output levels.
According to them “every year they make false assumptions and projections that are unrealistic. This, at the end of the day, leads to poor budget performance “Eventually, they will do what they always do, borrow more and increase the budget deficit”.
It’ll settle after White House chaos – Prof. Iledare
Speaking to Financial Vanguard on the global oil challenge Prof. Wumi Iledare, a Professor Emeritus in Petroleum Economics and Policy Research, said, “There seems to be higher than projected inventories of crude oil stockpile in the US because of lower than estimated demand. This is pushing pressure on the long term price trend fueled also by the wait-and-see positioning on where Trump’s propensity to tariff will lead the global economy.
“Of course, since the economy of Nigeria is too linked to government spending, there may be some adverse impact if the crude oil price continues to decline, it reduces government revenue for funding projects that matter to the economy.
“But I am confident the price will rebound after these Trump things are settled, after the tariff uncertainty and the ineptitude and chaos from the US white House”.
False budgetary assumptions leading to poor budget performance
According to oil policy expert and CEO, AHA Consultancies, Mr. Henry Adegun, the government makes the same mistake every year when making projections.
“Every year they make false assumptions and projections that are unrealistic. This, at the end of the day, leads to poor budget performance because they don’t have the fundamentals correctly. What we expect them to use are figures that are realistic.
“It has become normal for us to overestimate the barrels that we produce and then we have to borrow money to finance the budget. They rely on false projections that are unrealistic and that are not based on any facts and figures.
“Eventually, they will do what we always do, borrow more and increase the budget deficit”, he added.
Adigun explained that while the country has the potential to produce two million barrels of oil per day, he pointed out that this was not possible in the short term.
More borrowings, wider deficit looms
In a note to Financial Vanguard on the Implications of the budget benchmark assumptions, former Technical Adviser to the Nigeria Extractive Industries Transparency Initiative, NEITI, Dr Dauda Garuba, said the government would have to resort to additional borrowing to fill the gap that would be created by drop in price of oil.
Garuba noted that poor implementation of the budget would push more Nigerians into poverty and lack.
He stated: “The implication will be poor budget implementation or external borrowing. Neither of the two results is good for Nigeria, given that it will further push the country into the abyss of poverty, inequality and underdevelopment”.
Non-oil revenue may plug the gaps – Zera Advisory
On his part, Partner, Zera Advisory, Joe Nwakwue, said it was most unlikely for the government to achieve the projections on oil price and production volumes.
He stated: “It’s certainly a stretch. Most unlikely, we would achieve both volume and price targets going by current trends. “However, there has been a significant uptick in non-oil revenue generation. I hope these improvements will address the shortfall in oil revenue.
Specifically on the 2.06 million barrels per day projection, Nwakwu said: “It is very unlikely, given we are already in March. Volume growth takes time and resources, and resources and resources take time to mobilize”.
[Vanguard]
Eniola Bolaji has won gold medal in the women’s SL3 category of the Spanish para-badminton International 2025.
The 19-year-old defeated Ukraine’s Oksana Kozyna 2-0 in the event’s final on Sunday in Victoria, Spain.
Bolaji easily won both sets with identical 21-15 scorelines in the one-sided final, which lasted only 29 minutes.
The victory was the teenager’s second international tournament triumph in just two months.
She had also won a gold medal at the global para-badminton championship held in Cairo, Egypt, at the end of January.
Over the past two years, Bolaji has participated in 11 international championships, winning all of them.
Team Nigeria had six representatives at the Spanish para-badminton tourney level 2. The list included Okoro Chinyere Lucky, Chukwuemeka Ijeoma Gift, Eze Chukwuebuka Sunday, Nnanna Chigozie Jeremiah and Bolaji
Following their outing in Victoria, Bolaji, alongside Jeremiah and Eze, will head to Toledo, Madrid, for the more prestigious Spanish International level one para-badminton championship scheduled from March 12 to 16.
[TheCable]
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Nasir el-Rufai, former governor of Kaduna state, paid visits to Atiku Abubakar, Rauf Aregbesola and Tunde Bakare during the weekend.
The visits to Aregbesola, the former interior minister and ex-governor of Osun; and Bakare, founder of the Citadel Global Community Church (formerly known as Latter Rain Assembly); were in Lagos, while the visit to Abubakar, standard-bearer of the Peoples Democratic Party (PDP) in the 2023 election, was in Adamawa.
“After tonight’s Itfar (breaking of fast), I received in audience, former Governor of Kaduna State, @elrufai former Governor of Adamawa, Jibrilla Bindow and Musa Halilu, Dujima Adamawa. Our robust discussions were the dessert of the meal. -AA #RamadanKareem,” Abubakar shared on his X page.
El-Rufai, who served as governor on the platform of the All Progressives Congress (APC), has hinted at pitching his political tent elsewhere ahead of the 2027 presidential poll — after criticising the APC publicly.
The former Kaduna governor previously met with members of the Social Democratic Party (SDP) to “strategise ahead of the 2027 elections”.
In January, the APC in Osun expelled Aregbesola over anti-party activities after the Omoluabi Progressives, Aregbesola’s political group, quit the party.
Abubakar, a former vice-president and PDP chieftain, has spoken of building a coalition that would give the ruling APC a run for its money in the next presidential election.
See pictures from el-Rufai’s visits below.
Transnational Corporation Plc (“Transcorp” or the “Group”), Nigeria’s leading listed conglomerate has announced its financial results for the year ended December 31, 2024.
Consistent with its results track record, the Group sustained its strong growth trajectory across its financial indicators, reinforcing its market leadership and strategic positioning.
In its audited results, Transcorp reported significant year-on-year growth, with a revenue of N408 billion as at December 31, 2024, representing a 107% increase over the revenue of N197 billion in the previous year.
Highlights of Transcorp Group Results:
- FY 2024 Revenue increased by 107%, rising to N408 billion from N197billion of 2023.
- Profit before Tax grew by 132% to N7 billion, compared to N58.8 billion in the previous year.
- Profit after Tax improved 188% year-on-year to N1 billion in 2024, from N32.6 billion in the same period last year.
- Operating Income grew by 83%, to N0 billion in 2024, up from N81.4 billion in the corresponding period in 2023.
- Operating Expenses saw an increase of 105% year on year, to N8 billion in 2024, reflecting the impact of inflation and strategic investments in operational capacity.
- Net Finance Cost decreased by 45% to N4 billion, owing to the complete repayment of foreign currency loans.
- The Group’s Gearing Ratio reduced to 21% from 32% showing positive financial leverage.
- Earnings per share of the Group were N45 compared to N0.40 in 2023.
- Total assets expanded by 42%, increasing from N9billion in December 2023 to N751.6 billion at the end of 2024.
- Shareholders’ Funds grew by 45%, from N3 billion in December 2023 to N271.7 billion by year-end, supported by profit accretion to retained earnings.
- Declared N10.1 billion full year dividend, representing N1.00 per ordinary share in 2024.
Speaking on the results, Dr. (Mrs) Owen D. Omogiafo, President/Group Chief Executive Officer of Transcorp, commented, "Our 2024 financial performance reflects the sustainable value creation strategy of Transcorp Group. We have been able to consistently record impressive growth across all indices year on year, despite the challenging macroeconomic environment. In the sectors we operate, we have delivered consistent growth by leveraging operational efficiency, strategic investments, and an uncompromising focus on value creation for our shareholders. Looking ahead, we will deepen our growth trajectory by seizing emerging opportunities, and strengthen our position across Nigeria’s power, hospitality, and energy sectors, even as we consider more sectors that take us closer to our purpose of improving lives and transforming Africa.”
Transcorp is dedicated to its transformation agenda, emphasizing sustained growth and a relentless pursuit of long-term value for shareholders.
About Transnational Corporation
Transnational Corporation Plc (“Transcorp Group”) is one of Africa’s leading, listed conglomerates, with strategic investments in the power, hospitality, and energy sectors, driven by its mission to improve lives and transform Africa.
Transcorp’s power businesses - Transcorp Power Plc. and TransAfam Power Limited – provide approximately 20% of Nigeria’s installed power capacity.
Transcorp is committed to developing Nigeria’s domestic energy value chain, through its investments in OPL28 and its renewable energy drive through Transcorp Energy Limited. The Group’s hospitality business, Transcorp Hotels Plc, owns the iconic Transcorp Hilton Abuja, Nigeria’s flagship hospitality destination.
China is set to introduce artificial intelligence (AI) courses in primary and secondary schools in a bid to strengthen the country’s goal to dominate the sector.
According to a statement on the Beijing Municipal Education Commission’s website, schools in Beijing, the capital of China, will offer at least eight hours of AI classes periodically — starting from the coming fall semester which begins on September 1.
The statement said the schools can run them as stand-alone courses or integrate the courses with existing curricula like information technology and science.
“Build municipal general basic courses. Implement the requirements of the national curriculum plan and curriculum standards, and offer all courses related to artificial intelligence education,” the introductory part of the document reads.
“Explore the establishment of local courses for artificial intelligence education in primary and secondary schools, develop the ‘Beijing Local Curriculum Outline for Artificial Intelligence Education in Primary and Secondary Schools (Trial)’.
“Compile primary and secondary school artificial intelligence education and teaching guidelines and student learning manuals based on the cognitive abilities of students at different stages of education, develop supporting course resources with diverse forms and dynamic updates, and promptly reflect new technologies, new methods, and new achievements.”
China’s AI battle with the US reached new heights this year when DeepSeek dropped a leaner, faster model that rivalled those from the United States.
Beijing’s new education plan follows a pledge by the government to support the extensive application of large-scale AI models and the development of new generation intelligent terminals and manufacturing equipment.
Recently, Huai Jinpeng, China’s minister of education, said the country will release a white paper on AI education in 2025.
Over 7million small businesses shut down in Nigeria due to unfavorable economic conditions - NESG reports
AFOLABI
The Nigerian Economic Summit Group (NESG) has revealed that 30% of Nigeria’s 24 million registered Micro, Small, and Medium Enterprises (MSMEs) shut down between 2023 and 2024 due to mounting economic challenges. This alarming trend was highlighted during the launch of the “2025 Private Sector Outlook: Adapting to Economic Uncertainties for Growth and Resilience” in Lagos.
Segun Omisakin, Chief Economist and Director of Research at NESG, outlined the key risks faced by businesses during this period. These include foreign exchange (FX) shortages and volatility, with the naira averaging N1,479.9 per dollar in 2024; rising public debt, which reached N142.3 trillion as of September 2024; and the exit of multinational companies, which, alongside MSME closures, resulted in an estimated N94 trillion economic loss. Omisakin also pointed to structural issues such as insecurity, inadequate infrastructure, and limited market access as significant hurdles for the private sector.
Despite some positive developments, such as improved foreign exchange availability due to policy reforms and a 3.4% GDP growth in 2024—the highest since 2021—businesses continued to struggle with rising costs, inflationary pressures, and policy uncertainty. Wonu Adetayo, NESG Board Director, noted that while reforms like fuel subsidy removal and exchange rate harmonisation boosted investment levels, stagnant productivity and macroeconomic imbalances worsened living standards and economic distress.
During a panel discussion, Dele Kelvin Oye, President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), emphasised the importance of policy stability for attracting foreign direct investment. He urged the government to act as a facilitator rather than a competitor in economic affairs and called for greater inclusion of business organisations in key negotiations to ensure broad-based economic benefits.
Other panellists echoed these sentiments, warning against government overreach into private sector affairs and advocating for stronger collaboration between the public and private sectors. They stressed the need for active involvement of business associations like the Nigerian Association of Small and Medium Enterprises (NASME), the Nigerian Association of Small-Scale Industrialists (NASSI), and the Nigeria Employers’ Consultative Association (NECA) in economic decision-making.
The NESG also highlighted the lack of immediate monetary interventions following the fuel subsidy removal, which exacerbated inflationary pressures, and criticised inconsistent Customs regulations and fluctuating exchange rates as deterrents to investment and operational stability. To address these challenges, the NESG proposed a framework of economic stabilisation, consolidation, and acceleration, emphasising the need for policies that enhance private sector competitiveness and monitor reform efficacy.