Aliko Dangote, founder of the Dangote Group, says the Nigerian government gets 52 kobo revenue from every N1 generated from the production and sale of Dangote Cement.

Dangote spoke on Wednesday at the 2025 Taraba International Investment Summit on May 21.

“I’m sure it might be shocking to you to know that the federal government of Nigeria, not even the state, makes more money from, for example, our cement business. For every N1 we turn around, 52 kobo goes to the federal government of Nigeria,” the entrepreneur said.

He said governments benefit from investments, whether private or public, when they create conducive environments for businesses to operate and pay taxes.

“We always say that the government has no business in business. If it’s true, they don’t have business in business. Though, how are they going to make money, educate people, you know, do the hospital, road, infrastructure? It’s through what? Taxes,” Dangote said.

“Have you ever heard of the American government owning an oil block? No, the American government doesn’t own an oil block. And they are the biggest producers of oil today in the world. But they make their money through taxes.”

He added that foreign investors are unlikely to invest in a country unless local investors thrive.

Dangote said the group would continue to invest in Nigeria to create jobs and support local communities.

Deyemi Okanlawon, the Nollywood actor, has shared his thoughts on the Economic and Financial Crimes Commission (EFCC)’s recent clampdown on naira abuse.

In a recent interview on the Nollywood On Radio show, Deyemi criticised the EFCC for “disproportionately focusing on entertainers” while larger issues of corruption and crime persist.

The actor also acknowledged that some cultural norms, like the disregard for maintenance, need reevaluation.

He suggested that promoting respect for national symbols, such as the naira, could help reshape public attitudes.

“Two things, I think that because something is cultural does not make it right. We have a culture that does not really emphasise on maintenance of things,” he said.

“We have seen how things are built and we do not maintain it so we continue in that light…

“They are saying have respect for the naira, have respect for your country, maybe that is the way to do it. But the second thing is that I also think there are so many issues with corruption and crime going on in the country across different segments of people.

“So this move by the agency to come against entertainers is a bit too much in the light of everything else that we are trying to deal with.

“If every day we hear about corrupt officials, politicians, or organisations being brought down by the agency, we’d be more likely to trust that they’re acting in our best interest. Then, if they ask us to stop something like spraying money, we’d likely obey without question because we’d trust that the agency has the moral right to make such requests.”

TikTokers TobiNation and TDollar were recently sentenced to six months’ imprisonment over the abuse of naira notes.

On April 29, businessman E-Money was also arrested for reportedly abusing the dollar. He was, however, released a day later.

The socialite’s case with the anti-graft agency comes a few days after Terry Apala, the singer, was remanded at the Ikoyi correctional centre over alleged abuse of naira notes.

Iyabo Ojo and AY Makun also revealed that they were recently invited by the commission over money spraying.

In March, Murja Ibrahim Kunya, a TikToker, was rearrested in Kano for allegedly abusing the naira.

In 2024, the EFCC intensified its crackdown on naira abuse, citing section 21 of the CBN Act.

Ishaq Oloyede, registrar of the Joint Admissions and Matriculation Board (JAMB), says he considered resigning after the technical error that marred the 2025 Unified Tertiary Matriculation Examination (UTME).

The results from JAMB’s 2025 Unified Tertiary Matriculation Examination (UTME) were released on May 9.

A breakdown showed that more than 78 per cent of candidates scored less than 200 points out of the 400 maximum points obtainable.

JAMB undertook a review in response to public protests and uncovered a major “technical error” that compromised results.

Oloyede said, on May 14, that the results of 379,997 candidates across 157 centres in its Lagos and south-east zones were affected.

He cited faulty server updates that led to the failure to upload candidate responses during the first three days of the exam.

Oloyede said the problem, which was caused by one of its technical service providers, went undetected before the results were released.

JAMB conducted a resit examination, starting from May 16 and extending beyond May 19.

Oloyede met with chief external examiners, civil society organisations, and tertiary school stakeholders on Wednesday in Abuja.

He addressed calls for his resignation from critics who purported an ethnic conspiracy and sabotage in the UTME crisis.

The registrar said the media pressure from the 2025 UTME crisis caused him to momentarily consider resigning as the head of JAMB.

“When it happened, my first reaction is to resign. But people advised me that the students will never forgive me because it will look like you abandoned them at such a time,” Oloyede said.

The senate caucus of the Peoples Democratic Party (PDP) says the party should lead any coalition formed ahead of the 2027 general election.

Speaking at a meeting in Abuja, Abba Moro, minority leader of the senate and chairman of the caucus, said the PDP is well positioned to steer a coalition capable of strengthening democratic governance.

“We are not averse to the idea and ideals of coalition. The synthesisation of ideas and creating a harmony of ideals will further the beauty of democracy. However, any such coalition should be driven by political parties and not individuals,” Moro said.

“As the biggest of all the opposition parties, the PDP’s umbrella is big enough to accommodate all persons desirous of coalition.

“The Peoples Democratic Party, therefore, should drive the coalition if and when it becomes necessary.”

The caucus dismissed suggestions that the PDP is collapsing, saying internal disagreements are not exclusive to any one party.

“The current conflicts in the PDP are not different from what other parties like the APC, Labour Party and NNPP are facing,” More said.

The senators urged party members to remain resolute, expressing confidence that the PDP would emerge stronger and more competitive.

They also warned against weakening the opposition, arguing that democracy thrives when there is a strong counterbalance to the ruling party.

“The beauty of democracy is in the existence of robust opposition to keep the ruling party in check to ensure good governance,” Moro said.

“Celebrating the emasculation of other parties and tilting towards a one-party state will not advance the cause of democracy.”

Moro called on members nationwide to recommit to the PDP’s ideals, saying the party is capable of offering Nigerians a credible alternative.

“Out of the throes of the current conflicts in the party will arise a renewed, vibrant party that will give Nigeria an alternative to the current ruling party,” he said.

On May 15, Moro said politicians defecting from the PDP to the All Progressives Congress (APC) are “sinners” looking for “political forgiveness”.

President Bola Tinubu has sworn in the board and management of the Nigerian National Petroleum Company Limited, seven weeks after their appointment on April 2, 2025.

The board’s Non-Executive Chairman, Ahmadu Kida, and NNPCL’s Group Chief Executive Officer, Bashir Ojulari, were sworn in at a brief ceremony held at the Aso Rock Villa, Abuja, on Thursday afternoon.

The President, thereafter, proceeded to the All Progressives Congress National Summit at the State House Banquet Hall.

The 11-member board includes Adedapo Segun and Bello Rabiu, representing the North West; Yusuf Usman, representing the North East; and Babs Omotowa, a former Managing Director of the Nigeria Liquefied Natural Gas, representing the North Central.

Also on the board are Austin Avuru, Non-Executive Director for the South-South; David Ige, representing the South-West; and Henry Obih, representing the South-East.

Lydia Jafiya, Permanent Secretary of the Federal Ministry of Finance, will serve on the board as the ministry’s representative, while Aminu Ahmed will represent the Ministry of Petroleum Resources.

Top government officials present at the swearing-in were the Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Minister of Information and National Orientation, Mohammed Idris; and Minister of State for Petroleum (Oil), Heineken Lokpobiri.

The Dangote Petroleum Refinery has announced a fresh reduction in the pump price of Premium Motor Spirit (petrol) across the country, with new rates now ranging from N875 to N905 per litre, depending on location.

The new price regime, which marks a N15 reduction per litre across all regions and partner retail outlets, was posted on the official social media handle of Dangote Refinery on Thursday.

It applies to all major fuel marketers in partnership with the refinery, including MRS, Ardova, Heyden, Optima Energy, Techno Oil, and Hyde Energy.

In the earlier pricing template, Lagos residents paid N890 per litre, while prices rose to N920 in the North East and South-South regions.

With the new adjustment, Lagos residents will now pay N875, while those in the North East and South South will pay N905 per litre.

A breakdown of the revised prices shows, Lagos: N875, South-West: N885, North-East: N905, North-West & Central: N895, and South-South & South-East: N905

The Dangote Refinery urged consumers to purchase fuel only from its partner outlets and encouraged Nigerians to report non-compliance via its hotline: +234 707 470 2099 or +234 707 470 2100.

 

“Our quality petrol and diesel are refined for better engine performance and are environmentally friendly,” the company stated in the notice.

Our correspondent gathered the new reduction follows the return of a refund benefit policy offered to its customers earlier this week.

The development comes hours after The PUNCH reported that independent oil marketers resumed large-scale importation of petrol, as fresh data shows that over 496.17 million litres of petrol were brought into the country within nine days.

Findings using the Tanker Position Report, a document that tracks oil tankers’ movement and was obtained from Blue Sea Maritime by our correspondent on Monday, revealed that 370,000 metric tonnes of petrol were discharged at various depots. These products berthed at seaports between May 11 and 20, 2025.

On Monday, the 650,000 Lekki-based facility said the naira-for-crude deal allowed it to reduce the price of petrol, which translates to reduced costs at the pumps.

This is even as the company affirmed that the prices of petrol will remain affordable and stable.

They said that despite the fluctuations in global crude oil prices, it has consistently reduced the price of petrol.

The company, in a release signed by its Group Chief Branding and Communications Officer, Anthony Chiejina, said the decision to maintain price stability reflects its unwavering commitment to supporting the Nigerian economy and alleviating the burden on consumers from the increase in fuel prices by maintaining price stability.

The Federal Government has filed criminal charges against Senator Natasha Akpoti-Uduaghan over comments made during a recent television interview, where she alleged a plot to assassinate her.

The charges, filed before the High Court of the Federal Capital Territory in Abuja, stem from statements made by the senator during a live broadcast on Channels Television’s Politics Today programme on April 3, 2025.

In the controversial interview, Senator Akpoti-Uduaghan directly accused Senate President Godswill Akpabio and former Kogi State Governor Yahaya Bello of conspiring to have her eliminated.

“I am glad you did admit that I am a lawyer, and even if I am not a lawyer, I am a sane individual, and I do stand by what I said. In respect to the meeting or discussion Akpabio had [with] Yahaya Bello that night to eliminate me,” she stated on national television.

She further alleged that the withdrawal of her security detail was a deliberate move to expose her to danger.

“Just ask the Senate President why did he withdraw my security if not to make me vulnerable to attacks. Mind you, of all the senators, about 109, we all have different stories. I have been high profiled, vulnerable individual because of the nature of politics I have had, I have experienced since the year 2018. Very violent and dangerous. And I always have my security. So stripping me of my security because I am suspended illegally, actually it just positions me before attacks.”

According to the charge sheet, the Federal Republic of Nigeria is listed as the complainant, with Senator Natasha Akpoti-Uduaghan named as the sole defendant.

While the full details of the charges remain undisclosed, one count cites her “imputation” as potentially harmful to the reputation of the individuals mentioned.

Senator Natasha was suspended by the Senate in March for allegedly violating legislative rules. Following her suspension, the senator publicly accused Senate President Akpabio of victimising her as retaliation for her refusal to yield to his alleged sexual advances.

Presidential campaign posters of Seyi Makinde, governor of Oyo, took over major parts of Kano on Thursday.

The posters, which featured a bold image of Makinde, carried the inscription: “To Move Nigeria Forward 2027.”

They were credited to a political pressure group known as Nigeria Youths Awareness Group Makinde 2027 (NYAG Makinde 2027).

The posters, bearing the message “His Excellency, Engr Oluwaseyi Abiodun Makinde for President, Federal Republic of Nigeria,” were placed in strategic locations across the city.

They were spotted along Malam Aminu Kano International Airport (MAKIA), around the roundabout leading to the airport, and at Wappa area, near the former Triumph newspaper site.

Similar posters were also seen at the Dengi Flyover and on pavements around Kantin-Kwari Market, reputed as the largest textile market in West Africa.

Alhaji Lawal Abdullahi, national secretary of the group, said the movement to make Makinde president in 2027 had begun in earnest.

His words: “We have met as different groups and have agreed to have a common front for Seyi Makinde for President in 2027.

“We are a moving train, and there is no stopping us until we achieve our objective of a Seyi Makinde presidency.”

Abdullahi said the group had secured the backing of notable figures across the country.

He said: “We have consulted with prominent politicians and eminent personalities across the country, and we have their support.

“The Seyi Makinde 2027 project is a massive movement that will catch on and spread like wildfire.

“We have completed all necessary arrangements. The posters, billboards, handbills, and other branded materials are ready.

“By next week, in-sha Allah, they will flood the entire Northern Nigeria.

“Kano, Katsina, Jigawa, Borno, Yobe, and Gombe will be awash with support for Seyi Makinde next week. Other states will follow subsequently.

“Our movement will take over Northern Nigeria for Seyi Makinde, after which Southern Nigeria will be visited.”

According to Abdullahi, Makinde’s achievements in Oyo made him the right choice to lead Nigeria.

He added: “We have keenly followed his achievements in Oyo State and discovered that he is a focused administrator, someone committed to improving lives. He is the kind of leader Nigeria needs now.”

President Bola Ahmed Tinubu has transmitted the 2025 budget proposal for Rivers State to the National Assembly, seeking approval for a total of N1.481 trillion.

The president’s request was formally presented during Thursday’s plenary session by the Speaker of the House of Representatives, Tajudeen Abbas.

According to President Tinubu, the fresh budget proposal became necessary due to the Supreme Court’s decision and the fact that Rivers State is currently under emergency rule.

Rivers State is currently under the administration of a sole administrator, Ibok-Ete Ibas, appointed after the suspension of Governor Siminalayi Fubara by President Bola Tinubu in March.

The suspension followed the escalation of Fubara’s political dispute with his predecessor and current FCT Minister, Nyesom Wike.

Providing a breakdown of the budget, President Tinubu said ₦324 billion would be allocated to infrastructure, ₦166 billion to health, ₦75.6 billion to education, and ₦31.4 billion to agriculture.

He further noted that the agricultural component of the budget is projected to generate about 6,000 jobs across the state. The president appealed to the National Assembly to urgently consider and pass the budget in the interest of the state and its people.

The National Executive Council (NEC) of the Labour Party (LP) has directed the Senator Nenadi Usman-led National Caretaker Committee (NCC) to organise a national convention within 90 days to elect a new and expanded National Working Committee (NWC).

The decision is part of efforts to reposition the party following the Supreme Court’s recent ruling that ousted Julius Abure as National Chairman.

Ibadan Woman Exposes New AI: ₦450,000 Into ₦872,316 Per Hour
The directive was issued during a crucial NEC meeting on Wednesday, coming just weeks after the Supreme Court on April 4 invalidated earlier rulings from the FCT High Court and the Appeal Court that had upheld Abure’s chairmanship.

The court ruled the lower courts lacked jurisdiction in the matter. Notably, the tenure of the LP’s last validly elected NWC, which came into office in 2019, expired on June 8, 2024.

In line with a consent judgment brokered by the Independent National Electoral Commission (INEC) on April 26, 2022, and formally executed between the Nigeria Labour Congress (NLC) and the LP on June 27, 2022, the NEC adopted a series of resolutions aimed at stabilising and rebuilding the party.

Key resolutions include mandating the caretaker committee to organise a party convention within 90 days and appointing three Deputy National Chairmen to support Senator Nenadi Usman in leading the NCC.

Others are appointing three Deputy National Secretaries to assist National Secretary, Senator Darlington Nwokocha, filling all NWC vacancies within the interim structure and setting up standing and ad-hoc committees to facilitate congresses at all levels leading up to the convention.

Additionally, the NEC approved the relocation of the party’s national headquarters to a new secretariat in Abuja.

INEC has been formally notified to decommission the previous secretariat at No. 2 IBM Haruna Street, Utako District, Abuja.

In a major mobilisation effort, the NEC also launched a nationwide membership drive targeting 10 million new members within 30 days.

The campaign includes an online registration portal providing members with downloadable, uniquely numbered membership cards.

Physical registration options will also be available, with all existing members required to revalidate their membership and pay an annual subscription fee of ₦1,200. Support groups will be issued registration certificates with unique identifiers.

As part of the road map to 2025, the party plans to conduct ward, local government, and state congresses, as well as delegate elections, culminating in what is expected to be the most inclusive and expansive National Convention in the party’s history.

Party officials say the new direction aims to reinforce internal democracy and energise the LP ahead of the 2027 general elections.