Social commentator and the publisher of Ovation Magazine, Dele Momodu, on Monday urged manager of Nigeria’s economy not to discourage both local and foreign business men from investing in the country.

He expressed concerns over the recent spat between the Nigerian Midstream and Downstream Petroleum Authority and the management of Dangote Refinery, saying the crisis is taking a toll on the owner, Aliko Dangote.

His concerns come in the wake of the Federal Government’s intervention into the lingering face-off.

Momodu raised the fear when he was featured as a guest on Channels Television’s Politics on Monday.

 

“It’s almost like it is a crime to be an investor in Nigeria. I saw the reports in the Financial Times, Bloomberg and others. It will not help Nigeria.

“I don’t know who has grudges to bear with him. He should call him into a bedroom. Let them go and settle it behind closed doors. We cannot afford to wash this dirty linen in public. It is going to boomerang for all of us. That is my attitude.

“I believe this man has invested so much in Nigeria, just like other people. We have a lot of good businessmen in Nigeria who are doing great things. We should encourage them and not allow them to run away. Now, he said one of his friends is laughing at him because he warned him not to put all his eggs in one basket. 

“I have seen other countries where Dangote invested. I have been to his plants in Ethiopia, Zambia and Tanzania. I can see the effort those countries are making to accommodate him there. We should not chase our businessmen away.

“I am sure other business people in Nigeria are watching. They might say, ‘hey, if this can happen to Dangote, it can happen to me.’ And everybody will be scared. We should not create this panic. We can’t afford this at this time,” Momodu warned.

The Minister of State for Petroleum Resources, Heineken Lokpobiri, has reportedly convened a crucial meeting with key stakeholders, including businessman Aliko Dangote and NMDPRA leadership, to address the ongoing disputes affecting the supply of crude to the Refinery.

But Momodu insisted that it would be a shame for Nigeria to allow its oil sector players and stakeholders to be washing their ‘dirty linen’ in public while the world looks on.

He said, “The whole social media is awash and abuzz with the issue of this Dangote refinery issue. Instead of me rehashing what people are saying, let me just tell you my own solution. Mr President, in this season of anomie in Nigeria, you need all the friends you can get in the private sector.

The Federal High Court in Abuja, on Monday, declined to grant a motion to stop the Governor of Rivers State, Siminalayi Fubara, from spending from the state’s consolidated revenue fund.

Rather than grant the motion ex parte marked FHC/ABJ/CS/984/24, Justice James Nwite asked the plaintiffs to put Fubara and other defendants in the suit on notice.

The suit was filed by the faction of the Rivers State House of Assembly loyal to ex-governor Nyesom Wike.

The factional Assembly, led by Martin Amaewhule, had during its plenary on July 15, resolved to bar Fubara from spending from the Rivers State consolidated account following his refusal to present the 2024 budget afresh. 

The 25 pro-Wike lawmakers had at their previous sitting given Fubara a seven-day ultimatum to present the budget, threatening to take action against him if he refused.

Fubara, however, said he would not present afresh the N800bn budget already passed in January by the factional Assembly loyal to him.

He described the pro-Wike lawmakers as illegitimate, saying they had lost their seats as legislators following their defection from the Peoples Democratic Party to the All Progressives Congress.

 

The pro-Fubara factional Assembly, led by Victor Oko-Jumbo, also countered the call by the pro-Wike lawmakers on Fubara not to spend state funds.

Oko-Jumbo insisted that his faction of the Assembly was the legitimate Assembly and called on the Independent National Electoral Commission to conduct by-elections to replace the pro-Wike lawmakers.

In his ruling on Monday, Justice Nwite said he would not stop Fubara from spending the state’s revenue.

The defendants in the suit are the Central Bank of Nigeria, Zenith Bank Plc, Access Bank PLC, the Accountant General of the Federation, the Rivers State Governor, Fubara, the Accountant-General of Rivers, the Rivers Independent Electoral Commission, Chief Judge of Rivers State, Justice S.C. Amadi, Chairperson of RSIEC, Adolphus Enebeli, and the Government of Rivers State.

The pro-Wike lawmakers, through their lawyer, Joseph Daudu (SAN), also prayed the court to order substituted service of court papers on the defendants, a prayer the judge granted.

Justice Nwite, in his ruling, ordered that the Motion on Notice be served on the 5th to 10th defendants by substituted means.

He said, “Leave is hereby granted to the plaintiffs/applicants, to serve the 5th to 10th defendants/respondents with the plaintiffs/applicants’ Motion on Notice, and any other process(es) filed or issued in this suit by substituted means to wit: by publishing same in the Nation newspapers.”

 

The judge subsequently adjourned the matter till August 7 for the hearing of the Motion on Notice.

Meanwhile, the pro-Wike lawmakers, on Monday, demanded the arrest of the caretakers appointed by Fubara to run the 18 local government areas of the state.

The pro-Wike lawmakers made the resolution at their sitting on Monday.

They declared that the use of caretakers to run LG was a violation of the recent Supreme Court judgment upholding LG autonomy.

The resolution of the lawmakers was contained in a statement on Monday by the Speaker’s media aide, Martins Wachukwu.

According to the statement, the resolution followed a motion moved by the House Leader, Major Jack, and deliberated by members.

They described the LG caretakers as impostors and entities unknown to the law.

The statement reads, “The Rivers State House of Assembly at its 7th Legislative Sitting of the Second Session of the 10th Assembly, Monday, deliberated on a statement by the House Leader, Hon. Major Jack, wherein he drew the attention of the House to the illegal activities of some persons in the state, masquerading as Chairmen and members of Caretaker Committees.

“These individuals, the Leader said, go about imposing and collecting fees, levies and rates  from unsuspecting members of the public, in breach of the recent Supreme Court judgement, and the provisions of the Rivers State Local Government (Amendment)Law, 2023 that prohibit Caretaker Committees in whatever guise or nomenclature.”

The Speaker, Amaewhule, in his contribution, said it was worrisome that ‘these individuals not known to the law go to the banks and withdraw money meant for the Local Government Councils’ for wanton squandering in the name of non-existing Caretaker committees.”

Amaewhule urged the police and other security agencies to swing into action and arrest the impostors to avoid a breakdown of law and order in the state.

He said the House would not fold its arms and condone the “crass disregard for the laws of the state and the judgment of the Supreme Court of the land by some impostors.”

President Bola Tinubu has called on young Nigerians to refrain from participating in planned protests against the Federal Government’s economic reforms.

Recall that some Nigerians, particularly the youth, have planned a nationwide protest from August 1st to 10th to draw the government’s attention to the prevailing hardship in the country.

 

Speaking in Abuja at the National Council of Traditional Rulers meeting, Tinubu, represented by the Secretary to the Government of the Federation, George Akume, cautioned against allowing economic hardship to be exploited by individuals with ulterior motives to incite protests.

He emphasized the need for patience and commitment from Nigerians during this critical period of economic reform, urging citizens to remember past instances where crises threatened national peace and diversity.

Tinubu highlighted the lessons to be learned from India and Sudan’s experiences, noting that Nigeria, with its population of over 200 million, cannot afford such instability.

Capitalising on the economic hardship in the country, some men and women with sinister motives have been reported to have been mobilising citizens, particularly youths, to stage a protest.

“Let’s learn from India and Sudan’s experiences. We are a country with more than 200 million people.

“Therefore, we can’t afford to have this kind of situation,’’ he said.

The President assured that the government has implemented policies to alleviate economic challenges, including procuring Compressed Natural Gas vehicles, introducing a student loan scheme, distributing palliatives, and providing agricultural inputs like tractors and fertilizers.

He also emphasized ongoing efforts to address security issues in the country.

Tinubu urged traditional leaders to promote peace within their communities and engage with young people and parents to foster harmony.

The Sultan of Sokoto, Alhaji Sa’adu Abubakar III, supported this view, advocating dialogue as the best means to resolve conflicts and highlighting the necessity of peace.

The Ooni of Ife, Adeyeye Enitan, stressed the importance of patriotism and national cohesion for development, asserting that any threat to unity must be resisted.

He acknowledged President Tinubu’s efforts to address the nation’s challenges and reiterated that Nigeria belongs to all its citizens.

Dr. Mainasara Umar-Kogo, Chairman of the Code of Conduct Tribunal, noted the effectiveness of traditional institutions as local administrative bodies since pre-colonial times.

He called for their roles to be restored in the constitution to preserve socio-cultural values, suggesting that past administrative reforms have diminished their influence.

Atiku Bagudu, minister of budget and economic planning, says Nigerians have to make sacrifices for the country to achieve the needed growth. 

Bagudu spoke on Monday when he appeared before the house of representatives committee on appropriations to defend President Bola Tinubu’s request to increase the 2024 budget by N6.2 trillion.

The minister said countries that have achieved significant growth have made sacrifices over the years.

Bagudu asked Nigerians not to compare the country with nations that have attained notable development if they are not willing to make similar sacrifices.

 

“We have to recognise that countries that achieved development took choices that maybe we should have taken. That is my point,” the minister said.

“We have a leader (Tinubu) who is not even saying, Let us blame this or blame that. We are not where we want to be.

“How do we mobilise all together? Our children need to appreciate this fact. It is not a pleasant conversation when any father calls the children and says, Look, I am not as rich as you think I am. Let’s face it.

 

“But that conversation will build a better family than a situation where children feel self-entitled—they just blame the father, not knowing that even though he is the authority figure, he has his own limitations. So, even in a country, it is no different.

“The simple truth is that we have to make sacrifices in order for our country to achieve the growth that it requires.

“Those countries whom we are teaching our children that they have achieved this and that; we should stop comparing ourselves to where they (the countries) are today. But what choices did they make in the past to bring them to where they are?”

Providing a breakdown of the N6.3 trillion, Bagudu said the N3.2 trillion proposed for infrastructure projects will cover several road and rail projects.

 

The minister said the funds will form counterpart funding for rail projects that have been stalled over the years, including the one linking Port Harcourt-Maiduguri, traversing the Rivers  Imo, Abia, Enugu, Ebonyi, Anambra, Benue, Nasarawa, Plateau, Kaduna, Bauchi, Gombe, Yobe, and terminating in Borno state.

He said N522 billion will also be utilised for agricultural projects such as water, irrigation, and dams.

Bagudu said the proposed N3.2 trillion “renewed hope infrastructural fund” is “intended to provide equity contributions or counterpart contributions of the federal government projects designated as priority projects as well as critical projects that needed more appropriation so that they would not suffer neglect”.

The minister added that the N3 trillion is intended to meet recurrent expenditures, including the new national minimum wage approved by Tinubu.

Aliko Dangote, chairman of Dangote Industries Limited, has alleged some personnel of Nigerian National Petroleum Company (NNPC) Limited, oil traders and terminals have opened a blending plant in Malta.

Dangote spoke at the house of representatives on Monday.

An oil blending plant has no refining capability but can be used to blend re-refined oil (a used motor oil that has been treated to remove dirt, fuel, and water) with additives to create finished lubricant products.

The billionaire said the areas of the blending plants are known.

 

“Some of the terminals, some of the NNPC people and some traders have opened a blending plant somewhere off Malta,” the chairman said.

“We all know these areas. We know what they are doing.”

Addressing the drop in diesel prices, the billionaire said the diesel produced locally at 650 parts per million (ppm) and 700 ppm is of better quality than imported fuel.

 

Dangote said many vehicle issues can be traced back to the “substandard” imported fuel.

He urged the leadership of the house of representatives to set up an independent committee to verify the quality of petrol available at filling stations.

“I want you to set up a committee that will come with every representative headed by your chosen honourable member to come and lead in taking samples from filling stations because I must tell you today that all the test certificates that people are busy floating around, where are the labs? Even if they have the labs, I can tell you they are fake certificates,” he said.

“The real one that you now know that they are right is to take from the filling station and also come and take from our production line. Now, you will be able to tell Nigerians that this is it.”

 

On Monday, the house of representatives joint committee on petroleum resources (downstream and midstream) launched a probe into claims that local refineries, including the Dangote Petroleum Refinery, produce inferior products.

The committee is also investigating the allegations that the international oil companies (IOCs) in Nigeria are frustrating the survival of the Dangote refinery.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and Dangote refinery have been embroiled in a dispute that began recently.

On July 18, Farouk Ahmed, the chief executive officer of NMDPRA had said local refineries, including the Dangote refinery, were producing inferior products compared to the ones imported into the country.

 

The oil regulator also accused Dangote of monopoly, claims which have been denied by the billionaire.

On Monday, Heineken Lokpobiri, minister of state petroleum resources (oil), intervened in the ‘ongoing issues’ after having a meeting with Aliko Dangote, chairman and chief executive officer (CEO) of Dangote Group and Farouk Ahmed, CEO of Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

 

Gbenga Komolafe, CEO of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and Mele Kyari, group CEO of the Nigerian National Petroleum Corporation (NNPC) Limited were also at the meeting.

Godwin Obaseki, governor of Edo, says the forthcoming governorship election in the state must be free and fair to avoid a crisis in the country. 

In a statement issued on Monday, Chris Nehikhare, Edo commissioner for communication and orientation, said Obaseki spoke on Sunday at a political meeting in the state.

The governorship election in Edo state is slated for September 21.

Nehikhare said the governor’s comment has been misinterpreted by members of the All Progressives Congress (APC), alleging that Obaseki is calling for violence.

 

“The attention of the Edo State Government has been drawn to the negative spin that the opposition party, the All Progressives Congress (APC), is fruitlessly attempting to put to the comments made by His Excellency, Governor Godwin Obaseki, at a stakeholders meeting on Sunday, July 21, 2024, in Benin City, the Edo State capital,” the statement reads.

“For the records, we want to restate the comments of the governor on that occasion, which are that ‘If a free and fair election is not allowed to hold sway in Edo State on September 21, 2024, it will trigger a major crisis in Nigeria’.

“Recall that on Thursday, July 18, 2024, ahead of the rally to inaugurate the APC National Campaign Council in Benin City, which was held on Saturday, July 20, 2024, the party assembled a large number of people believed to be thugs, most of them bearing firearms, around the precincts of the Benin Airport on Airport Road, Benin City, to cause mayhem in the state, resulting in the unfortunate death of a police officer, Inspector Akor Onuh, attached to MOPOL 45 Abuja, and the wanton destruction of properties and injuries to several citizens who were going about their lawful businesses.

 

“The mob then moved around the city, attacking other institutions, including the Nigerian Bar Association (NBA) Secretariat, inflicting violence and terror on the lawyers in their secretariat, with one of the lawyers, Mr. Israel Idahosa, being severely injured and his property destroyed.

“They also intimidated and harassed private citizens who were putting on any material that had the insignia of the ruling Peoples Democratic Party (PDP) and its candidate, Dr. Asue Ighodalo, within the Benin metropolis.

“As they say, the morning shows the day, and the APC has clearly shown their plan for the September 21 governorship election in the state, which is to cause mayhem, make the state ungovernable, and take advantage of the chaos to manipulate the forthcoming governorship election.

“We, however, want to advise the APC to, for once, read the mood of the nation and understand that with the current hardship, unattainable cost of living, and pervasive hunger in the country, a slightly irresponsible behavior by the political class can ignite a crisis that will have a domino effect and cause a conflagration across the nation.

 

“This note of caution is even more appropriate with the ominous threat of a nationwide protest with the potential to degenerate into a widespread breakdown of law and order.

“While we urge all Edo people to go about their lawful businesses without fear, we call on the Nigerian Police to do its job and apprehend the hoodlums, most of whom have been positively identified and captured in videos, carrying firearms at the location of the crisis.”

The commissioner said the state government, through “robust security video surveillance, is ready to supply these videos taken in real-time to help the police in their investigation”.

Heineken Lokpobiri, minister of state petroleum resources (oil), has held a meeting with Aliko Dangote, chairman and chief executive officer (CEO) of Dangote Group and Farouk Ahmed, CEO of Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to ‘resolve ongoing issues’.

Gbenga Komolafe, CEO of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and Mele Kyari, group CEO of the Nigerian National Petroleum Corporation (NNPC) Limited were also at the meeting.

The meeting was held on Monday according to a statement by Nneamaka Okafor, special adviser on media and communication to the minister.

Okafor said stakeholders expressed their gratitude to the minister for his prompt intervention in facilitating the important dialogue.

 

“The meeting focused on finding a sustainable and lasting solution to the current impasse affecting the Dangote Refinery, with all parties demonstrating a commitment to collaborative and proactive problem-solving,” she said.

According to the statement, the meeting marks a significant step towards resolving the challenges and underscores the minister’s dedication to fostering a conducive environment for Nigeria’s oil and gas sector.

In a separate statement, Lokpobiri emphasised the importance of cooperation and synergy among all stakeholders to ensure the success and optimal performance of Nigeria’s oil and gas sector, which he said is essential for the country’s economic growth and energy security.

 

On June 4, Dangote said some international oil companies (IOCs) are struggling to supply crude to his refinery.

However, on July 15, Komolafe described the claim as “erroneous”, adding that the Petroleum Industry Act (PIA) has provisions that guide willing buyer-willing seller transactions.

A few days later, the management of Dangote Industries Limited, the parent company of Dangote Petroleum Refinery, said the IOCs were frustrating its request to purchase crude feedstock for the refinery.

On July 18, the CEO of NMDPRA said local refineries, including the Dangote refinery, were producing inferior products compared to imported ones.

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As the feud lingered, Dangote, on July 22, said he was willing to sell his oil refinery to NNPC.

 

A Senior Advocate of Nigeria (SAN), Olisa Agbakoba, has advised the federal government not to acquire Dangote’s refinery.

Olisa Agbakoba said this in reaction to a report that the President of Dangote Group, Aliko Dangote, plans to sell off its $20 billion refinery.

 

On Monday, in a statement, Agbakoba said the federal government should focus on reviving the government-owned refineries.

Agbakoba said Professor Itsey Sagay‘s argument that the federal government can take over Dangote’s refinery was not the best option.

The former president of the Nigeria Bar Association (NBA) said, “The proposal for the Federal Government to acquire Dangote’s refinery raises significant considerations. It is disturbing that the government would seek to take over a privately constructed facility after years of neglecting its own refineries.

“While Prof. Itse Sagay (SAN) contends that such action is permissible under the Constitution and suggests fair compensation for the owner, I believe that we can find a constructive solution to the issue surrounding the Dangote Refinery.”

He said if the federal government revives the government-owned refineries, it will contribute to creating a more robust infrastructure that will serve the needs of Nigerians.

Instead of considering the takeover of Aliko Dangote’s refinery, the government should prioritize the long-overdue repairs and upgrades of its own refineries. By doing so, the government can contribute to creating a more robust and self-sufficient infrastructure that serves the needs of the Nigerian people,” he said.

He advised the federal government to take alternative step if Aliko Dangote has held the government ransom through his refinery. He said the only way of rendering Dangote irrelevant would be to fix government refineries.

But why take over what a private individual built? Why can’t the Federal government fix its refineries all these years? Why allow an efficient business man hold you to ransom when there is a very simple alternative.

“The simple alternative for us all is this – let Nigeria work. Let there be light. Let there be food. Let there be water. Let there be jobs. Let there be money, schools, health care, roads etc. This is how to render Dangote irrelevant and not as suggested by taking over another man’s sweat even if the sweat is to cheat us. Let the Federal government do its own refineries and bluff Dangote,” Agbakoba added on his X handle.

Senator Ali Ndume wants President Tinubu to address the planned nationwide protest over economic hardship using dialogue.

Ndume gave the advice on Monday ahead of the planned protest billed for August 1 across the country.

According to the lawmaker, talking with the organisers who are mostly youths would help in dousing the tension and avert the planned demonstrations.

“I think the President should talk to Nigerians, talk to the youths,” the lawmaker who represents Borno South said on Monday’s edition of Channels Television’s Politics Today. 

 

‘A Listening Ear’ 

His comment aligns with the Nigeria Labour Congress (NLC)’s charge for President Tinubu to dialogue with the leaders of the planned demonstration.

In a statement on Monday, the labour union said Tinubu should invite the leaders of the planned protest and listen to their grievances.

“As the date for the widely reported national protest looms, the Nigeria Labour Congress urges President Bola Ahmed Tinubu to invite the leadership of the protest movement for discussions on their grievances,” the NLC president Joe Ajaero said.

According to the NLC leader, with inflation reaching a new high of 34.19  per cent coupled with the hike in food and electricity tariffs among others, there is a need for Tinubu to address Nigerians.

“It is, therefore, condescending and dismissive to describe the daily brutish ordeal that Nigerians are going through as a sponsored political dissent. Even if it is so, it is still within the confines of citizens’ rights to protest on political grounds. Just that the current unease in the country does not need political motivation to spark and splurge,” Ajaero said.

“All that the hurting citizens demand from their government is a listening ear and an empathetic heart. Maybe, that is what the organisers of the protest are looking for given their continued notices on different social media platforms.”

Senate President Godswill Akpabio has raised alarm over the persistent economic sabotage that has undermined investor confidence in the petroleum sector, declaring that the Senate must identify and hold those accountable for the criminal acts.

Akpabio made the declaration on Monday during the inauguration of the Senate ad-hoc committee to investigate alleged sabotage in the sector.

At the inauguration, the Senate President stated that it is not merely an investigation but a rescue mission for the nation’s future. He said that it is a matter of national security and sovereignty and, if left unchecked, could cripple the economy for generations to come.

Senator Akpabio therefore charged members of the committee to collaborate with relevant agencies, industry experts, and stakeholders to uncover the root causes of the economic saboteurs, leaving no stone unturned.