Dangote Petroleum Refinery and Petrochemicals has advised Pinnacle Oil and Gas Limited that deregulation should not be used as a justification for the importation of off-spec petroleum products or the undermining of Nigeria’s national interests.

The refinery made this statement in response to remarks by Robert Dickerman, CEO of Pinnacle Oil and Gas Limited, concerning the importation and blending of petroleum products, which he framed within the context of a "deregulated commodity market." Dangote Petroleum Refinery said that his argument for a deregulated market could not obscure the serious implications of his actions, which, it claimed, not only threatened the integrity of Nigeria’s energy sector but also endangered the welfare of its citizens.

While reiterating its support for deregulation and industrialisation, Dangote emphasised that this support is grounded in a commitment to the sustainable growth of the country’s economy and the protection of its people from exploitation. The refinery made it clear that the health and safety of Nigerians should never be compromised in the pursuit of profit.

“The Dangote Petroleum Refinery and Petrochemicals Company has long been an advocate for deregulation and industrialisation in Nigeria, but our support is rooted in a commitment to the sustainable growth of the country's economy and the protection of its people from any exploitation. Unlike Dickerman’s view, deregulation should not be a licence for the importation and distribution of off-spec products or the subversion of national interests,” it said.

The company also noted that, as an American, Dickerman should be well aware of how his own country protects its industries. It pointed to several recent examples from the United States to underline the point. For instance, U.S. President Joe Biden recently opposed the sale of U.S. Steel to Japan’s Nippon Steel, stressing the importance of maintaining strong American steel companies supported by American workers—an example of protectionism that prioritises national economic interests over short-term profit. Similarly, the U.S. has taken action to restrict the use of Chinese-made cranes in its ports, citing national security concerns. The U.S. has also imposed a 100% tariff on electric vehicles and a 50% duty on medical equipment imported from China, further demonstrating its commitment to safeguarding domestic industries. The United States has also ramped up efforts to boost its own production of computer chips and medical supplies, driven by national security concerns and the need for economic self-sufficiency. Furthermore, during his presidency, George W. Bush used anti-dumping laws to impose tariffs on a range of Chinese goods that were considered to be unfairly priced.

“It is therefore perplexing that Dickerman, with all his experience in the U.S. market, would advocate for the importation and blending of petroleum products to Nigeria under the claim of deregulation and a free market. The fact is that he had deceitfully approached us and pleaded that we extend the pipeline from our refinery to Pinnacle’s tank farms for the purpose of blending our high-quality products with their imported products and selling them to Nigerians. We categorically rejected his request to extend our pipeline to their tank farms for such devious purposes because it would be a betrayal of the Nigerian people’s trust. The health and safety of Nigerians cannot—and should not—be compromised for profit.”

The company also raised concerns over Pinnacle Oil’s decision to lease its tank farms to a company without any retail outlets in Nigeria, questioning the strategic intent behind such actions, particularly given that the farms are located just 500 metres from Dangote’s refinery. It expressed its vigilance regarding the coordinated efforts to undermine the Dangote Refinery, drawing parallels to the fate of refineries in Port Harcourt, Kaduna, and Warri.

Dangote Petroleum Refinery called on the government, patriotic Nigerians, and local businesses to remain steadfast in defending the country’s sovereignty and economic independence.

“The choice we face is between fostering industrialisation or allowing Nigeria to remain a dumping ground for inferior products while exporting jobs. For nearly three decades, cartels and their collaborators have sabotaged efforts to develop Nigeria’s refining capacity, keeping the country dependent on imported products. The time has come to end this cycle of exploitation and ensure that Nigeria’s energy sector works for the benefit of its people,” it added.

Reiterating its belief that a strong, self-sufficient energy sector is vital for Nigeria’s economic growth, Dangote affirmed that it will continue to advocate for policies and practices that protect both industries and the well-being of all Nigerians.

The company also expressed its support for healthy competition that drives innovation and quality, and looked forward to the upcoming commissioning of the four state-owned refineries, as promised by the NNPCL.

“At Dangote Petroleum Refinery, we are committed to ensuring that Nigeria becomes self-reliant in petroleum production, and we welcome competition that drives innovation and quality. However, we will never allow the continued importation and blending of petroleum products, nor the deliberate destruction of our national economy. We believe that a strong, self-sufficient energy sector is vital to Nigeria’s economic growth, and we will continue to advocate for policies and practices that protect our industries and the well-being of all Nigerians.”

“We eagerly anticipate the coming on stream of the Kaduna, Warri, and Port Harcourt refineries before the end of this year, as promised by the Group Chief Executive Officer (GCEO) of NNPCL, Mele Kyari. This milestone will not only end all baseless rumours of monopoly but also position Nigeria as a refining hub for petroleum products in Africa,” it concluded.

• Commiserates with Tinubu, Nigerian Army, South-West

 Lagos State Governor and the Chairman of the South-West Governors Forum, Mr. Babajide Sanwo-Olu, has mourned the passing of Nigeria’s Chief of Army Staff, Lt. General Taoreed Abiodun Lagbaja, describing his death as a colossal loss to Nigeria.

The Governor also commiserated with the Commander-in-Chief of the Armed Forces, President Bola Tinubu, Security Chiefs, the Nigerian Army and the entire Nigerians over the death of the Chief of Army Staff.  

Governor Sanwo-Olu, in a statement issued on Wednesday by his Special Adviser on Media and Publicity, Mr. Gboyega Akosile, described Lagbaja, who died on Tuesday night in Lagos following a brief illness at the age of 56, as a dutiful and committed soldier who served Nigeria passionately.

The Chairman of the South-West Governors Forum, who also sympathised with the immediate family, friends and associates of the late 23rd Chief of Army Staff.

The Governor praised the late Lt. General Lagbaja’s contributions in Nigeria’s efforts to end the war against insurgency and banditry, noting that the country would miss the rich experience and knowledge of the deceased soldier.

He said, “On behalf of my family, the people, and the government of Lagos State, I extend my heartfelt condolences to President Bola Tinubu and the Nigerian Army on the death of the 23rd Chief of Army Staff, Lt. General Taoreed Lagbaja. I also sympathise with families, friends, and associates of the deceased.

“I am saddened by the death of Lt. General Taoreed Lagbaja. His death was a painful loss to Nigeria. He was a dutiful and committed soldier who served Nigeria passionately with dedication, skill, gallantry, and total commitment. He employed his long years of experience and expertise in the service of our fatherland.

“The late Lt. General Taoreed Lagbaja will be sorely missed by the Nigerian Army, especially at this period when the country is intensifying the fight against insurgency and other criminal elements in different parts of the country.

“I pray that God would grant Lt. General Taoreed Lagbaja eternal rest and grant the Nigerian army and the entire security chiefs, as well as the families, associates, and colleagues of the deceased, the fortitude to bear the irreplaceable losses.

SIGNED

GBOYEGA AKOSILE

SPECIAL ADVISER - MEDIA AND PUBLICITY

06 NOVEMBER 2024

In an unprecedented turn of events, Donald Trump has been reelected as President of the United States while under a felony conviction. 

Trump’s comeback to the White House, following his guilty verdict in a New York court on 34 counts of falsifying business records, is shaping up to be one of the most polarizing political moments in U.S. history. 

Despite his legal issues, Trump’s administration brings promises of policy shifts that may impact global geopolitics, economic strategies, and defense alliances.

Reduced Support for Ukraine: A Shift in Foreign Policy?

One of Trump’s primary campaign promises was to reassess U.S. involvement in international conflicts. He has been vocal about reducing support to Ukraine in its ongoing conflict with Russia, instead urging European nations to bear more of the financial and logistical burden. 

Trump has also hinted at pursuing a swift peace deal, though critics argue that this might favor Russia by freezing current battle lines.

Allies in NATO are bracing for a potential shift in the U.S.’s role, a move that could bring mixed reactions within the alliance.

Economic Optimism: Deregulation and Domestic Growth

A cornerstone of Trump’s policy platform involves deregulation and pro-business measures aimed at energizing the U.S. economy. 

Supporters argue that his previous term’s tax cuts and emphasis on domestic manufacturing were highly successful in boosting job growth and creating a robust economy. 

Experts predict that this renewed focus on deregulation could encourage investment and growth in sectors like energy, manufacturing, and technology. 

Some experts suggest that Trump’s leadership might bring an economic boost by making U.S. industries more competitive on a global scale and fostering resilience in the face of international competition.

Despite his conviction, Trump’s administration has pledged a tougher stance on law and order within the U.S. 

Trump’s policy ideas around supporting police forces, restricting immigration to enhance border security, and countering fentanyl trafficking resonate with some voters concerned about domestic safety. 

His administration may prioritize these areas in hopes of reducing crime rates and addressing public concerns about safety and stability.

Trump’s return also raises profound constitutional questions. 

Although his felony conviction would typically raise concerns about eligibility, there is no constitutional rule barring a felon from holding the presidency. 

His appeal is pending, and Trump’s legal team is expected to use every available route to delay sentencing until after the election. 

Analysts predict his situation may lead to legal precedents in future cases concerning candidate eligibility and public office.

As Trump returns to power, his administration’s impact on domestic and international policy remains uncertain but substantial. 

Time to return to Bill Clinton’s third way and the politics of tolerance?

I was wrong.

On Election Day, I got off the fence and publicly predicted a Kamala Harris win – and maybe a landslide sweep of most of the dead-heat swing states – on social media and RCP podcast.

Why did I post this prediction? Partly to prove to my children that what I promised them (a Harris victory) would happen. Partly, I can now see more clearly, I was trying to convince myself: My heart said Harris would win, but my head said Trump would prevail.

So now, after a sleepless night, here is my morning-after self-truth-telling. It’s time we liberal Democrats faced up to the truth: We have become the party of intolerance and shaming, and a lot of ordinary Americans who once reliably voted Democratic and shared our Franklin Roosevelt-era liberalism that viewed government as a force for good now look at us as out-of-touch elites. And worse, as controlling scolds.

I thought about my own fear of writing or saying something that might alienate those who call themselves “progressives” in the Democratic Party (and who roll their eyes when I use the word “liberal” from my dad and FDR’s vocabulary). We need to self-reflect on the fear we have created within our own ranks of saying and writing what we really think and feel out of fear of political and social ostracism and, honestly, of shaming by the base of our party.

I saw it happen to my law school friend, Hillary Rodham Clinton, when she ran for president against the “progressive base” hero, Sen. Bernie Sanders. Not only did Hillary (and inferentially, I and her supporters) become “illiberal” or “reactionary” in the vocabulary of the Bernie Sanders true believers. We became the “enemy.” (If you think that is an overstatement, look up the posts on Twitter and quotes on liberal cable shows from a group who called themselves “Bernie Bros” and their attacks on Hillary Clinton.) Hillary was fighting for liberal causes – civil rights, women’s rights, children’s rights, human rights – before these “Bros” were out of grade school.

So I begin this day-after assessment of Donald Trump’s victory with one simple thought: It’s up to those of us who’ve given our lives to the Democratic Party to take ownership of three elements that produced this unwelcome election result.

First and foremost, we’ve allowed what was once called “political correctness” to become an ideological enforcement tool. (Conservatives use the word “woke,” but I dislike that term because it reminds me of their hypocrisy: The political right also enforces its own orthodoxy with their version of cancel culture – and fails to see the irony that all they have to do to invoke it is to apply the word “woke” to those they disagree with.)

Second is the word intolerance. Our side applies this word to Trump and his supporters even as our left base refuses to tolerate any deviation from their stance on an increasingly long list of sacred cows. I speak from painful experience. I am sympathetic, empathetic, to those who suffer from the feeling they have two genders – one hidden inside, the other marked by physical characteristics on the outside. As President Clinton would say, sincerely, I feel their pain.

But I am also uncomfortable with the idea that males in transition to being females should be allowed to use restrooms for “girls” or “women” without any concern for the discomfort it might cause young girls or grown women. If we must be sensitive to the challenge of being transgender, why should trans people be insensitive to the discomfort of those who are not? And how did it become a litmus test in our political party to support biological males competing in female sports?

The Trump campaign made great hay out of reproducing a clip of Kamala Harris advocating using tax dollars to pay for transgender surgery in prisons. There is certainly a case to be made for paying for such surgery, but this debate isn’t really about incarcerated felons. It’s about shaming people – even fellow liberals with a history of supporting gay rights – for daring to even ask questions about whether children should be encouraged by adults (not their parents) to change genders.

For me, this is the biggest lesson of why so many people voted for Trump, so many people I know, people who are friends. They resent the intolerance of people who call themselves “progressives” – but whose instinct of intolerance is not liberal at all. It is illiberal and reactionary. And yet I feared alienating them. I feared being shamed by them.

A very long time ago, a candidate named Bill Clinton often used the expression “third way” to describe the courage to resist the entrenched orthodoxies of both major political parties. The courage to plant yourself on what you truly believe – not right, not left, but a third way, which happens to be the place in American politics where solutions are found.

So our base, and I include myself in sharing this blame, feared speaking out loud what we felt about the hundreds of thousands of migrants who crossed our borders in the last four years. I have Latino friends, waiting for their green cards, who admitted with some hesitancy that they were voting for Trump. They did so not despite his immigration views, but because of them. Knowing he would be called a racist for doing so, Trump said that it’s time to enforce the law and stop illegal migrants from “jumping the line,” as one of my Latino friends said to me approvingly – approving of Trump, not the migrants.

My second column in this series will be to expound on what I see as the future for the Democratic Party – to go back to Bill Clinton’s “third way,” or as he put it – “neither right nor left but the third way to solve problems.”

He did alienate both sides when he served his two terms as president – certainly the left, and, as seen by his hyper-partisan and illegitimate House impeachment vote, the right as well.

But President Clinton was right: He solved problems and he “put people first.” And he ended his last day in office, January 20, 2001, enjoying the highest job approval rating (65%) of any two-term president since polling and job approval surveys were invented decades ago.

# # # # # # # # # # # # # # # # # # # # # # # # # # # #

Lanny Davis is the founder of the Washington, D.C., law firm Lanny J. Davis & Associates. From 2018-2024 Davis served as a legal advisor for Michael Cohen, but for the N.Y. DA trial Cohen is represented by experienced N.Y. counsel. Davis uniquely operates at the intersection of law, media, and politics to solve client problems. From 1996-98, Mr. Davis served as special White House counsel to President Bill Clinton. In 2006, he was appointed by his Yale College friend, President George W. Bush, to serve on a special post-9/11 White House panel to advise the president on privacy and civil liberties issues. He is the author of six books on politics, government, law, and crisis management. He has been writing his “Purple Nation” column since 2010

Yes, of course, the schedule of Wale Edun, Minister of Finance, as Coordinating Minister of the Economy, includes providing foundational, but realistic ideas to turn around the economy of Nigeria for the better.

Abubakar Atiku Bagudu, Minister of Budget, is responsible for planning the Nigerian economy, as it was done by Prof Adebayo Adedeji, Federal Commissioner for Economic Planning and Reconstruction of the post-civil war military government of General Yakubu Gowon.

But it appears that Edun is more concerned with fiscal policies of the government and does less of coordinating the economy, safe for ad-hoc assignments given to him by President Bola Tinubu, just as Bagudu concentrates more on the arithmetic of the national budgets, and not so much on planning the economy.

It is not very obvious that both ministers have been thinking of reviving the economy, and not just managing the cash flow effects of the removal of petrol subsidy and flexible exchange of the naira, policies which Edun probably thinks are enough to reshape Nigeria’s economic landscape.

While Edun may have neglected new macroeconomic policies or conceptual frameworks for the economy, Bagudu doesn’t seem to remember the five-year development plans that can provide the building blocks of the economy as they should have been conceptualized by Edun.

By using development plans, the Union of Soviet Socialist Republics surpassed America’s economy to the extent that, by the late 1950s, the USSR was able to finance the first orbit of the earth by Russian astronaut, Yuri Gagarin.

Development plans swiftly placed the USSR economy ahead of America’s economy that hitherto practically financed the Allied Forces’ prosecution of World War II efforts against Axis Powers led by Adolf Hitler’s Nazi Germany, and the post-war Marshal Plan to stabilize Europe’s economy. Unfortunately, development plans were thoughtlessly jettisoned by military President Ibrahim Babangida for a strange animal that he called “Rolling Plans.”

The omissions of Edun and Bagudu give one the impression that the government is without economic direction- which leads to the wonderment that maybe there should be a “Minister of the Economy” to think out foundational economic policies for the nation.

By the way, the motive of Edun’s strange directive that foreign currency outside of the banking system must be deposited in bank vaults is not quite clear. His coyness when discussing the subject gives the impression of someone having a hard time concealing something that the public must not know. But then, it may just be his manner of speaking!

The “Minister of the Economy” may be assisted by a Council of Economic Advisers, with members that should include economists, sociologists, philosophers, scientists, technologists, investment bankers, corporate managers, labour leaders and entrepreneurs with factory-floor experience in agriculture, mining, manufacturing and the service industry, and not just Harvard or GQ types.

The minister must search for cutting-edge technology that meets today’s global peculiarities.

It appears that this was the job of economist, Patrick Sanwo, founding Editor of Business Times, when he was Lagos State Commissioner for Economic Planning and Establishment under Col Adekunle Lawal during the Generals Murtala Muhammed/Olusegun Obasanjo military era.

Much will particularly be expected of Dr. Jumoke Oduwole, who may be spending a much longer period as Minister of Trade, Industry and Investment than Doris Nkiruka Uzoka-Anite, in the areas of stimulating, diversifying the economy, reducing poverty, creating wealth and employment.

To break Dr. Oduwole’s task into brass tacks, or the details of the immediate and practical actions that she must take, one could say that trade, or the process of exchange of commodities, is a synonym for the economy.

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Whereas industry is another name for productive enterprises, or the real sector and service enterprises, investment is the exchange of money for the acquisition of assets, like stocks, bonds, lands, properties and others that yield streams of revenue over the usually long period that they are held.

Dr Oduwole should be thinking of at least a five-year development plan, like the 1962-1968 Development Plan that was packaged for Nigeria by the World Bank under the Abubakar Tafawa Balewa government.

She must also be thinking of the nature, volume and growth rate of the Gross Domestic Product of the Nigerian economy. She cannot run the economy by merely coasting along on the current template. Luckily for her, President Tinubu has envisaged a $1 trillion economy by 2030.

She must prove wrong, naysayers, like investment banker Bismarck Rewane, who insists that, because about 75 per cent of Nigeria’s economy, with the current growth rate of 3.19 per cent, contracted in the second quarter of 2024, it may be impossible to achieve President Tinubu’s $1 trillion dream within the next five or six years.

Dr Oduwole should be earnestly pushing the President to ensure that Ajaokuta Steel Mill is fully operational immediately and encourage local manufacture of industrial plants, machinery, spare parts and raw materials, critical components of the silver bullet template that will make the economy productive.

As she is reading the tea leaves of trends in digital technology, she should also be thinking of how to motivate and herd local and foreign investors into Nigeria’s agricultural, mining, manufacturing and service industries.

It is realistic to recognize that though it may no longer be at the centre stage, the Industrial Revolution of steamships and the wheel may not have been completely replaced by the New Information Age and its attendant convergence of telecommunications, broadcasting and computer technologies. Though it’s not looking as if the Luddites will be able to halt or roll back the digital march, wise economic planners must recognize the existential importance of the traditional economy.

Dr. Oduwole should have a clearly defined plan to revive the textile industry and grow automobile manufacturing companies. She should assemble experts who can advise her on the kind of technology, the volume of investment, and the template for running the exceedingly critical electricity sector of the economy.

In addition, she should think about how training and re-training entrepreneurs to learn the appropriate skill set, aptitude and attitude for the new kinds of industries that will achieve the economic dream that President Tinubu has for Nigeria.

As for investment, Dr. Oduwole is already well-prepared: She is an attorney, who knows how to suture together various kinds of business templates. As a former czarina, former Special Adviser to the President on Ease of Doing Business and Secretary to the Presidential Enabling Business Environment Council, she knows how the eco-system of business should work.

With a PhD in International Trade and Development, with a concentration on the strategy of the World Trade Organisation, formerly known as the General Agreement on Tariffs and Trade, Dr Oduwole will certainly know how to handle the international aspect of Nigeria’s trade.

As a member of the Africa Continental Free Trade Agreement Implementation National Action Committee of Nigeria, she should be able to neatly integrate the West African sub-region, if not Central and East African sub-regions, into Nigeria’s economic planning orbit.

If she is truly the thinker that she is reputed to be, Nigeria may just be on its way to the promised economic future.

Ogun State government has successfully concluded the Town Hall meetings held in four major divisions—Remo, Ijebu, Yewa, and Egba (RIYE)- to seek the direct inputs of the relevant stakeholders into the 2025-2027 Medium Term Expenditure Frameworks (MTEF).

The practice, which has become an annual ritual, aligns with the bottom-top approach to participatory governance, which is now an in-thing in the democratic world.

Participatory governance allows citizens to be involved in the decision-making processes of the state. As a departure from the past, the Governor, Prince Dapo Abiodun, introduced the idea into the developmental policies of his administration as a way to strengthen the relationship between citizens and the government.

Among other benefits, involving the people in the decision-making process increases meaningful engagement, thereby fostering a sense of ownership of the process. And so far, it has been a rewarding exercise both for the government and the people who are directly connected to the development at the grassroots level.

The Commissioner for Budget and Planning, Mr. Olaolu Olabimtan, stressing the significance of the Town hall Meeting, disclosed that 377 inputs were received during the last town hall meetings held in 2023 and that 90 percent of those inputs, representing 340 of the total contributions, were included in the year’s budget.

He also pledged that the remaining 40 inputs would be included in the 2025 budget and the MTEF. Olabimtan explained that projects were evenly implemented among the six local government areas in Ijebu Division, urging the people of the senatorial districts to submit their inputs toward the planning and eventual implementation of the budget.

The state government concluded the exercise which began on October 23, 2024 in Ijebu Division at the Ogun Central Senatorial District on Thursday amidst the stakeholders’ enthusiasm. Like the previous experience, it once again afforded the governor the opportunity to give an account of his stewardship, emphasizing that his administration had ensured even distribution of projects across the three senatorial districts. 

Abiodun categorically declared that no part of Ogun State had been left out of the developmental projects of his administration in the 2025-2027 Medium Term Expenditure Framework (MTEF) and the 2025 Budget. He emphasized that projects were evenly distributed among the three Senatorial Districts in accordance with the 2024 budget.

The Governor made this known during the town hall meeting on the 2025-2027 Medium Term Expenditure Framework (MTEF) and 2025 Budget held at the Bisi Rodipe Event Centre, Ijebu-Ode. Abiodun, who commended all stakeholders for their inputs during consultations, further disclosed that his administration had approved the reconstruction of some major roads in the Ogun East Senatorial District. 

He said he had approved the reconstruction of Imoro-Imegun-Opopo road, Igbeba-Eid praying ground to Prison road, others in Ogun East.

Governor Abiodun, who was represented by the Chief Economic Adviser and Commissioner for Finance, Mr. Dapo Okubadejo, maintained that despite the fiscal pressures on its resources, the administration had also commenced the construction of over 64 kilometres of rural roads across the state.

The construction of the rural roads, Governor Abiodun said, marked pivotal steps in his administration’s ongoing commitment towards expanding infrastructural development for rural accessibility and boosting agricultural productivity in the state.

“In continuation of our infrastructural development, our administration recently approved the reconstruction of the Imoro-Imegun-Opopo road in Ijebu-North-East, Igbeba road to Eid praying ground to Prison, Imoru road in Ijebu-Ode, and Odelewu-Ladeshi-Ishiwo road.

“Despite the fiscal pressures and increased government spending, infrastructural investments to promote rural development and the economy have equally gained attention.

“Our administration is constructing 64 kilometres of rural roads in select local government areas in the state, including within the Ijebu division,” he said.

Governor Abiodun also disclosed that his administration, in collaboration with the Lagos and Oyo State Governments, had procured an additional 25 patrol vans and surveillance drones to monitor activities along the Lagos-Ibadan expressway.

He added that the completion of the Gateway International Agro-cargo Airport, Ilishan, would position the state as the major logistics hub in the sub-region, while taking advantage of the Africa Quality Assurance Centre developed by the Africa Export-Import Bank.

So far, Prince Abiodun said that his administration had constructed over 600 kilometres of road across the state, with 243.3 kilometres completed in the Ogun East Senatorial District. of the completed roads listed included Chris-Ogunbanjo-Erunwon road, Palace road, Ijebu-Itele, Club road, Balogun Kuku road, Ijebu-Ode, and the reconstruction of internal roads within Olabisi Onabanjo University (OOU), Ago-Iwoye.

He said that work had also commenced on the double self-culvert on Alaran River, Isiwo, Ijebu-Ode, Liberty road, Oru, and the Awokoya road in Ijebu-Ode.

The governor attributed the successful implementation of the 2024 budget to the prudent management of the state resources, blockage of leakages, as well as increase in the Internally Generated Revenue (IGR). He stated this during the town hall meeting held at Ilaro on Tuesday by the Chief Chief Economic Adviser and Commissioner for Finance, Mr. Dapo Okubadejo, Prince Abiodun noted that the 2024 budget had already achieved 80 percent implementation, ascribing the success to the various reforms embarked by the state government.

He said: “Putting the record straight, before our emergence in 2019, budget implementation was below 40 percent but the present administration has moved it up to an average of 75 percent.

“Implementation of the 2024 budget is 80 percent and that of last year was also 80 percent. We had put in place various mechanisms for the execution of the budget, and these mechanisms are in line with our pillars of development. We also put in place delivery mechanism and strategies to ensure the variant of most of the budget.

“Also, we have embarked upon a lot of reforms to block leakages, improve efficiency of service delivery. We also looked at other revenue areas; we have embarked on massive digitalization to enhance our revenue in those areas without necessarily overtaxing our people.”

He added that his administration leveraged the competitive and comparative advantages of the State and established few ministries and agencies that had helped in boosting the state revenue.

The Governor stressed that the introduction of Medium Revenue Strategies, Medium Term Expenditure Framework reforms in the payment for seamless operations to block leakages as well as regular meeting to monitor all reforms, were parts of measures aimed at improving the state’s revenue.

He disclosed that Ogun West Senatorial District had benefited from the over 600 kilometres of road constructed by his administration in the last five years. These include, among others, GRA road at Ota, Ilaro-Owode, Atan-Lusada-Agbara, and Oke-Irija-Ilobi. The Governor acknowledged Ogun West as the home of industries and food basket of the State.

He described the meeting as critical engagement aimed at providing opportunities for the people to press home their demands and aspirations as feedbacks are not only important to the MTEF, but also the 2025 budget.

It goes without saying that the combined effects of prudent management, blockage of leakages, and the enhanced capacity for Internally Generated Revenue have accounted for the resilience of the state economy amid the global challenges. Since he assumed office, he has demonstrated his innate capacity for creative thinking, leading to further boosting of the state’s internal revenue generation. As of today, Ogun is among the few states that can survive independently of the Federal Government.

In their separate remarks, the Gbegande of Ososa, Oba Toye Alatishe, and the Ebumawe of Ago-Iwoye, Oba Abdul-Rasaq Adenugba, commended the present administration for sustaining the town hall meeting, which has served as an avenue for the people to make their inputs into the budget, saying monarchs in the district would continue to support the vision and mission of the present administration in the state.

On his part, the Olu of Ilaro and Chairman, Ogun State Council of Obas, Oba Kehinde Olugbenle, represented by the Onimeko of Imeko, Oba Benjamin Olanite, called for the reconstruction of more roads in the area to improve the economic activities of the people.

In the same vein, representatives of different organisations and groups urged the government to consider more road construction in the senatorial district in the proposed budget.

Abiodun further affirmed the commitment of his administration to participatory governance and citizen’s engagement. He emphasized that his administration had always listened to the voices and concerns of its citizens in order to incorporate them into the 2025 budget.

The Governor, who was represented by his Chief Economic Adviser and Commissioner for Finance, Mr. Dapo Okubadejo, at the town hall meeting, which took place at the June 12 Cultural Centre, Kuto, Abeokuta, highlighted the importance of public participation in shaping the 2025-2027 MTEF and the 2025 budget.

“This final session is a culmination of our efforts to ensure that the voices of Ogun State residents are heard and reflected in our governance,” Abiodun stated. 

The governor noted that the meetings had provided opportunity for residents across the senatorial districts, including Ijebu, Remo, egba and Yewa, to engage directly with government officials, providing feedback on pressing local issues. He posited that the meeting in Egba Division had served as a vital opportunity for community leaders and citizens to discuss their specific needs and aspirations towards the development of the state.

Governor Abiodun reiterated his administration’s focus on infrastructure as a direct response to community feedback gathered during previous meetings.

“We understand that improved roads and essential services are crucial for economic growth and the well-being of our citizens,” highlighting significant projects in Egba Division, including ongoing constructions.

The governor assured the people of the state that his administration would continue to prioritize safety through community policing initiatives. “We are dedicated to creating a safe environment where everyone can thrive,” he stated, reflecting the concerns raised by citizens throughout the Town Hall Meetings.

The Alake and Paramount Ruler of Egbaland, Oba Adedotun Aremu Gbadebo, applauded the Abiodun-led administration for its commendable work across the state. He urged the government not to relent, noting that there was still much to be done, particularly in the area of road infrastructure.

In his remarks, the Speaker of the Ogun State House of Assembly, Rt. Hon. Oludaisi Elemide, commended the present administration for its inclusiveness and forthrightness in ensuring that development in different sectors of the economy cuts across all the regions of the state.

Ogbonnikan writes from Abeokuta, Ogun State capital

President Bola Ahmed Tinubu, Commander-in-Chief of the Armed Forces, regrets to announce the passing of Lt. General Taoreed Abiodun Lagbaja, Chief of the Army Staff, at age 56. 

He passed away on Tuesday night in Lagos after a period of illness.

Born on February 28, 1968, Lt. General Lagbaja was appointed Chief of Army Staff on June 19, 2023, by President Tinubu. 

His distinguished military career began when he enrolled in the Nigerian Defence Academy in 1987. On September 19, 1992, he was commissioned as a Second Lieutenant in the Nigerian Infantry Corps as a member of the 39th Regular Course.

Throughout his service, Lt. General Lagbaja demonstrated exceptional leadership and commitment, serving as a platoon commander in the 93 Battalion and the 72 Special Forces Battalion. 

He played pivotal roles in numerous internal security operations, including Operation ZAKI in Benue State, Lafiya Dole in Borno, Udoka in Southeast Nigeria, and Operation Forest Sanity across Kaduna and Niger States.

An alumnus of the prestigious U.S. Army War College, he earned a Master’s degree in Strategic Studies, demonstrating his dedication to professional growth and excellence in military leadership.

Lt. General Lagbaja is survived by his beloved wife, Mariya, and their two children. 

President Tinubu expresses his heartfelt condolences to the family and the Nigerian Armed Forces during this difficult time. He wishes Lt. General Lagbaja eternal peace and honours his significant contributions to the nation.

Bayo Onanuga

Special Adviser to the President

(Information and Strategy)

Nigeria's Labour Party leader and Presidential Candidate of the party in the 2023 general election, Peter Obi, has congratulated the newly elected 47th President of the United States, Donald Trump.

The Labour Party leader expressed the hope that Trump's victory will help to deepen democracy globally and engender much-needed peace in the World.

Obi commended the US electoral officials as well as the people of America for conducting a successful poll.

Signed 

Ibrahim Umar 

POMR SPOKESMAN

The two major trade groups in the petroleum downstream market are up in arms with Dangote Refinery, accusing it of monopolistic tendencies to dominate the sector and dictate prices. Independent Petroleum Marketers Association of Nigeria (IPMAN) and Petroleum Products Retail Outlets Association of Nigeria (PETROAN) are insisting that petrol from Dangote Refinery is costlier than imported substitutes and so, they should be allowed to import the product for the benefit of Nigerians. But in a counter argument, Dangote Refinery says its pricing is benchmarked against international prices ‘’and we believe our prices are competitive relative to the price of imports’; that any product brought into the country at a lower price must be of inferior quality, and could pose health risks to Nigerians and damage their vehicles. ‘’If anyone claims they can land PMS at a price cheaper than what we are selling, then they are importing substandard products and conniving with international traders to dump low quality products into the country without concern for the health of Nigerians and the longevity of their vehicles. Unfortunately, the regulator (NMDPRA) does not even have a laboratory facilities which can be used to detect substandard products imported into the country’’, the refiner stated in a press statement last Sunday.

This controversy throws up two options with far-reaching consequences for the Nigerian economy: should we return to the era of fuel importation and bring in cheaper products, even if they are of poor quality, or do we resist importation and stick with what Dangote and other local refiners produce? We should consider these options dispassionately before we make a choice. First, what are the implications of continued fuel importation? Importation will further depreciate the value of the Naira, drain our scarce foreign reserves and exacerbate inflation and cost-of-living crisis. Recall that at the peak of our fuel importation, the CBN had told us that 40% of foreign exchange is used for fuel imports. If the imported substitutes are cheaper as IPMAN stated, the savings motorists make in fuel price may just be offset by a concomitant spike in inflation and the cost of car repairs.

But what do we gain as a country and a developing economy if we do away with importation and buy only from Dangote, even if its price is higher than the price of cheaper imported products? We shall be supporting and protecting domestic industrialization; creating jobs for our young people; enhancing tax income for the government and establishing incentives for other foreign and domestic investors. A potential investor is always eager to understand the attitudes of the government towards new investments – is the government pro business or not? Are there enough incentives and protection for domestic production? The manner we treat Dangote today is sending some signals to other would-be investors.

It is natural for a new producer to launch its products or services with relatively initial high prices; but in the long-run, charges begin to fall as output increases and economies of scale sets in. Even before its prices begin to dip, the manufacturer surely offers other benefits to the economy which importers don’t. This is why nations, including developed ones, go the extra mile to protect domestic investments. It is the reason US government imposes high tariffs on goods imported from China and the Biden administration does not approve the purchase of American steel giant, United States Steel Corporation, by Japanese investors. Similarly, Nigeria must take steps to protect and encourage Nigerian investors who borrow money from banks and invest in this economy to create products and generate employment for our teeming young talents. A domestic producer pays taxes to the government and provides many philanthropic assistance to the community in which it operates.

We cannot afford to go back to fuel importation. The Petroleum Industry Act clearly stands against fuel importation whenever local production is available, and, as economists are wont to explain, importation exports jobs and brings in inflation. Those who are touting importation of petrol as an alternative to domestic refining are buccaneers and profiteers who are not interested in the growth and development of this country. This is the time for the Tinubu administration to be very categorical and firm on this matter by insisting that Nigeria will not go back to the era of fuel importation, and that we must be intentional about developing our country and encouraging production.

Our domestic investors, big or small - whether it is Innoson Motors; Ibom Airlines; Dangote Refinery or that small bakery in your neighbourhood - deserves our encouragement and incentives. They create jobs; pay taxes; generate own electricity; add value and are the reason the government is hoping for a $1 trillion dollar economy. I acknowledge that Nigerians are facing severe challenges due to high fuel prices. I am also aware that Dangote Refinery was built at a humongous cost (close to $15 billion) borrowed from both international and domestic sources. Bank charges are high and breakeven point is still far; and to that extent, it must charge commensurate prices for its products. The refinery should therefore strike a balance between the need to cover costs, especially its variable costs, in the immediate term, and the imperatives to consider the diminished purchasing power of the consumers. Clearly, petrol enjoys inelastic demand, but there’s a limit to what consumers can take in terms of price increase. The refinery’s tax-free status and guarantees supply of Naira-denominated crude oil should help it to absorb some costs and keep product prices competitive. Similarly, NNPC should tell Nigerians the status of the turnaround maintenance of the Port Harcourt refinery. Will the four refineries ever come back to life?

Etim is a journalist and author