…. Absorbs N16bn loss by refunding N65/litre to marketers for Nigerians to benefit from cheaper fuel

...Insists Nigerians deserve good quality, affordable fuel products  

 Dangote Petroleum Refinery & Petrochemicals has announced that it will refund customers who purchase Premium Motor Spirit (PMS) at rates higher than the advertised prices from any of its key partners – AP (Ardova Plc), Heyden, or MRS – across Nigeria.

This move follows the refinery's recent reduction of its gantry price from N890 per litre to N825 per litre. The refinery stated that this is part of its ongoing efforts to ensure that Nigerians are the primary beneficiaries of the price reduction and in line with President Bola Tinubu's Renewed Hope Agenda, which aims to stimulate the economy.

In a statement issued over the weekend, the refinery confirmed it will refund N65 per litre on the over 200,000 metric tonnes of PMS purchased by marketers at the old gantry price of N890 per litre, prior to the new rate of N825 per litre. Dangote refinery also absorbed N16bn loss by refunding N65/litre to marketers for Nigerians to benefit from cheaper fuel

“The step, effective February 27, 2025, guarantees that none of our valued business partners will experience a loss due to the price change. More importantly, it ensures that the new, lower rate takes immediate effect nationwide for the benefit of the Nigerian people,” the statement said.

The refinery emphasised that this initiative extends beyond MRS Holdings, Ardova Plc (AP), and Heyden. It urged other marketers sourcing stock from it to pass on the benefits of the new pricing to consumers at the retail level, encouraging a collective commitment to affordable, quality products.

Dangote also condemned any exploitation of the new pricing structure. “It is both unpatriotic and detrimental to the welfare of Nigerians for any party to purchase at a rate of N825 per litre and then sell to consumers at N945 or more per litre. This constitutes excessive profiteering, further burdening Nigerians for personal gain,” the statement added.

"Dangote Refinery in its effort to ensure good quality and affordable fuel for Nigerians, is working with its partners to make this price accessible. Consumers who purchase fuel above the advertised rate at any of its key partners – AP (Ardova Plc), Heyden, or MRS – anywhere in Nigeria, are encouraged to report to Dangote Refinery with their receipts for a full refund of the excess amount.

The approved rates per litre are as follows: MRS: N860 in Lagos, N870 in the South-West, N880 in the North, and N890 in the South-South and South-East; Heyden and AP: N865 in Lagos, N875 in the South-West, N885 in the North, and N895 in the South-South and South-East.

With the new gantry price set at N825 per litre, Dangote Refinery expects that no Nigerian will pay more than N900 per litre for PMS, regardless of location or petrol station. The refinery also underlined its commitment to providing high-quality, eco-friendly fuel that benefits vehicle performance and supports public health.

“Our commitment aligns with the objectives of President Bola Tinubu’s Renewed Hope Agenda, which champions self-sufficiency in critical sectors like energy. We remain dedicated to supporting Nigeria’s economic growth and ensuring every Nigerian has access to affordable, high-quality energy solutions,” the refinery said.

Dangote Refinery concluded, “This initiative is one of many ways Dangote Petroleum Refinery & Petrochemicals continues to contribute to a prosperous and sustainable future for our country. In this journey toward energy security, we stand united with the Nigerian people, always striving to provide lasting solutions and a more prosperous future for all.”

In a star-studded ceremony held at the Eko Hotels & Suites, Victoria Island,  on Saturday, 1st March, 2025, The Sun Newspaper honoured High-profile attendees including distinguished Senators, seven Governors, Federal Executive Council members, respected elder statesmen and women, captains of industry, royalty, and academia, all gathered to celebrate 36 remarkable Nigerians who have made significant contributions in various fields. The event, which drew a Who's Who of Nigeria's political, business, and social elite, was a testament to the country's rich talent pool.

The Sun Newspaper on this occasion added another luster to the crown of Akpakpa Vhighi Vhighi of Edoland, Chief (Prof) Mike Agbedor Abu Ozekhome, SAN, as he emerged the winner of THE SUN COURAGE IN LEADERSHIP AWARD. This prestigious award recognizes Chief Ozekhome's outstanding leadership, his unrelenting pursuit of excellence, and his unwavering resolve in the face of challenges.

Chief Ozekhome, SAN, is a  renowned lawyer, with a career spanning over three decades. As a Senior Advocate of Nigeria (SAN), he has made significant contributions to the nation's legal landscape.

The ceremony was a night to remember, with a dazzling display of glamour and sophistication. The event was a celebration of Nigeria's best and brightest. As Chief Ozekhome, SAN, took to the stage to accept his award, the audience erupted in applause, acknowledging his remarkable achievements and the impact he has had on the nation.

SEE PHOTO EXCERPTS:

XRP has flipped Tether (USDT) in market cap, reaching $158.86 billion and surpassing USDT’s $142.38 billion valuation, making it the third-largest cryptocurrency after Bitcoin and Ethereum.

The crypto market is on fire, with XRP, Cardano (ADA), and Solana (SOL) soaring in the past 24 hours — a rally fueled by Donald Trump’s post on Truth Social.

The president doubled down on his pro-crypto stance, announcing plans for a U.S. Crypto Reserve that would include XRP, SOL, and ADA, Bitcoin and Ether.

“A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA,” Trump posted on Truth Social, adding that he will make “sure the U.S. is the Crypto Capital of the World.”

Following Trump’s statement, XRP surged 26.1%, ADA skyrocketed 49.7%, and SOL gained 18.1%. Investors are speculating that Trump’s endorsement of specific altcoins could bring increased institutional and government adoption.

Bitcoin (BTC) and Ethereum (ETH) also saw gains, with BTC rising 3.8% to $87,894 and ETH climbing 2.9% to $2,237.

Short traders wiped out as market spikes

With prices surging, short sellers betting against the market were hit hard. In the past 24 hours, 93,415 traders were liquidated, bringing total liquidations to $356.36 million, according to CoinGlass. The largest single liquidation order occurred on HTX’s BTC-USDT pair, totaling $39.86 million.

Of the $357.7 million in liquidations, $248.67 million (69.52%) were shorts, meaning traders betting on lower prices were burned as crypto prices soared.

One whale, who was long on BTC and ETH with 50x leverage, has closed most of his positions, pocketing over $6.8 million in just one day, according to on-chain analytics firm Lookonchain.

[TheStreet]

The Labour Party (LP) has accused Valentine Ozigbo, the 2021 Governorship candidate of the Peoples Democratic Party (PDP), whom it described as “a nominal member of the LP,” of betrayal and making a serious attempt to demarket the LP.

Obiora Ifoh, the LP’s National Publicity Secretary, said this in a statement in Abuja on Sunday.

According to him, the attention of the LP’s leadership was drawn to interviews granted to some national televisions by Mr. Ozigbo, “Though until recently a nominal member of the Labour Party but a familiar face in the Peter Obi Campaign Council wherein he made serious attempts to demarket our party in his attention seeking antics.”

Ifoh said, “As a party, we rarely respond to media attacks by individuals who, for political reasons, create some aura of importance around their persons but, in actual fact, are liabilities to both the party they belong to and also to their constituents.

“But for Val Ozigbo, the Labour Party views his present pitiable position as quite unfortunate and can only advise him that no one gets into a position of power through betrayal and desperation.

“It is a fact that Val Ozigbo contested the Anambra governorship election in 2021 under PDP and woefully lost to an APGA candidate.

“In that election, he sought and got huge support, both financial and moral, from many Nigerians, many of whom he has now shamelessly denied.

“When he joined the Labour Party after the emergence of our presidential candidate in 2022, his mission was very clear: to work for the candidate.

“He tagged along the campaign without adding any value whatsoever to the campaign, hoping to earn some popularity with his closeness to the candidate.

“Today, Ozigbo has shown his real character, and he is even claiming that his association with the Obidient family was a disservice to his political ambition.”

The LP Spokesman further said, “Let me at this point reveal real reasons why Val Ozigbo left the Labour Party.

“Though he cited the party’s national convention and defections, however, it is a known fact that the issue of the national convention held in Nnewi, Anambra state, has been clearly and decidedly addressed by the courts in favour of the incumbent executive.

“Also, the defection is a national malaise affecting all the major political parties, and these defections are being challenged in the courts.

“The truth is that Val Ozigbo would rather contest the election in a political party where he hopes to be rewarded by the government in power when he loses the election.

“It is a fact that he has been financially challenged after the 2021 election, and he is desperately in need of resuscitating himself.

“It is obvious that Mr Ozigbo has neither the interest of the nation nor Anambra State as he claimed; rather, his interest is clearly pecuniary.

“Unfortunately for him, virtually every political party in Nigeria knows his trajectory in politics and his character of joining a political party a few months before the governorship election, buying the candidacy, blocking other more focused aspirants, wasting the slot and dumping the party without qualms.

“We advise Mr Ozigbo that the parties have since learnt that they can never be used again as Special Purpose Vehicles by desperate politicians whose only interest is to seek personal glory and dump them at the end of the day.

“In the case of the Labour Party, he had thought that his fake fraternity with the Presidential candidate would earn him the candidacy unopposed, but he was disappointed by the leadership of the party in his ward and state who confronted him with the facts of his non-support of the party.

“Val Ozigbo, in his entire membership of the Labour Party, never supported the party even in his polling unit.

“Every politics is local, but to him, endorsement from the top is all that matters. It will interest you to know that in the 2023 presidential election, the Labour Party lost the election in the polling unit in front of Ozigbo’s residence.

“It tells you how weightless Ozigbo is politically. I doubt if any serious political party will toy with his candidacy in the coming Anambra governorship election.

“The party, of course, reminded him very clearly during the July 2024 Anambra State Congress, where all his nominees were flatly rejected in a free and fair contest.

“The very embarrassed Val Ozigbo read the handwriting on the wall, and that pushed him to rebel against the party leadership. Unknown to many, Mr. Ozigbo actually left LP in July 2024 after that disgraceful outing.

“Obviously aware that he has been ostracized politically, he quickly joined in stoking the crisis in the party leadership, which he is now citing as one of the reasons he left the Labour Party.

“We want also to advise him that being a destructive agent against a party that once offered him a platform to achieve his political aspirations can be cruel and hardly a way to go in politics, the consequence of which can be disastrous.

“His adversarial critique of the party is not just infantile but has also gone further in diminishing his already frustrated personality.

“Politics is all about competition; you cannot attain any position in the struggle for power if you are afraid to compete. Probably, the quality of aspirants in the Labour Party in the Anambra state governorship race and low confidence in himself may be another reason why he took the sudden flight from the party, but we still wish him well in his future political engagements.”

Fuel Station Palaver

Setting: A scorching afternoon at a seemingly endless fuel queue in Lagos. Mama Ade and Papa Emeka are neighbors, stuck in their cars, inching forward.

Mama Ade: Papa Emeka! Na you be dis? Ah, dis fuel wahala go kill us one day! See queue, e be like snake wey swallow elephant!

 

Papa Emeka: Mama Ade! Wetin man go do? Motor don dey nearly drink air. Dem say fuel dey, but e be like say na for oyinbo land dem keep am. Laughs dryly Na only for Naija you go queue to buy wetin you get money for!

Mama Ade: True, true! Even for heaven sef, I sure say queue go dey for gate if dem share free gold. Na our national sport be dis, queuing Olympics! But eh, my back dey break o. Dis good governance wey dem promise, na queue dem mean? Queue for fuel, queue for light, queue for water… Na queue upon queue!

Papa Emeka: Sighs Na so we see am o. Dem say we dey resilient. But I dey think, na resilience or na we just learn to dey suffer and smile? Maybe one day, queue go queue for us, e go tire, e go commot for road. But until dat day, make we dey manage, dey pray, and dey sweat for dis line!

 

Bank Wahala

Setting: Inside a crowded bank hall in Abuja. Young Corper Tunde and Elder Musa are waiting in the snaking queue for the teller.

Tunde: Baba, good morning… or good afternoon sef. Dis bank queue dey fear me! E be like say to collect your own money for Naija, na pilgrimage.

 

Elder Musa: Fans himself with a newspaper My son, welcome to Nigeria! Na since we bin small pikin we dey queue. For school fees, for food, now for pension… Queue na our heritage! Chuckles sadly Dem say technology dey make life easy, but ATM queue sef dey longer pass NEPA queue before!

Tunde: But Baba, all dis plenty queue, e no tire us? Dem dey promise us change, better Naija… but na same queue we dey see. Good roads, hospitals wey dey work, light wey no dey blink like Christmas… Na queue we still dey for all of dem.

Elder Musa: My son, e get wetin eye see, mouth no fit talk. Maybe di queue na test from Baba God. To test our patience, our faith… or maybe to test if we go finally vex and use our leg break di queue! But for now, we dey here, dey queue, dey hope say one day, we go reach front, collect our right, and maybe, just maybe, see small change for di better Naija we dey dream of.

 

Fuel crisis queue

Ah, the queue. That ubiquitous, serpentine entity that slithers through the Nigerian landscape, a constant companion in our daily lives. From the hallowed halls of A-class events to the humble confines of Iya Basira’s Amala joint, the queue reigns supreme. It’s a national pastime, a social ritual, and, let’s be honest, a profound national predicament.

Consider the A-class event, a spectacle of champagne flutes and canapés. One might expect a certain level of decorum, perhaps even a touch of regal efficiency. But no. The buffet line, that sacred trough of culinary delights, becomes a battleground. Dignitaries, celebrities, and the crème de la crème of society, all reduced to shuffling mortals, plates in hand, eyes fixed on the jollof rice like pilgrims at a holy site. It’s a humbling experience, a reminder that in the face of free food, we are all equal.

Then there’s the fuel scarcity, a recurring national drama that plays out with the predictability of a Nollywood plot. The headlines scream, “Fuel Scarcity Looms!” and, like Pavlovian dogs, we react. We abandon our homes, our offices, our very sanity, to join the snaking lines at petrol stations. Cars stretch for miles, forming impromptu parking lots, and tempers fray like overstretched elastic bands. It’s a national exercise in patience, or perhaps, a national exercise in masochism.

The banks, those bastions of financial probity, are no different. The ATM, a marvel of modern technology, becomes a monument to our collective frustration. We stand, we shuffle, we sigh, watching as the minutes tick by, each transaction a Herculean effort. And heaven forbid you need to see a teller; that’s a queue within a queue, a bureaucratic labyrinth designed to test the limits of human endurance.

 

Iya Basira’s Amala joint, a culinary institution, is a microcosm of the national experience. The queue here is a testament to the irresistible allure of her pounded yam and egusi. It’s a vibrant, noisy, and slightly chaotic affair, where conversations flow as freely as the palm wine. But even here, in this haven of culinary bliss, the queue is an ever-present reality.

And let’s not forget the senior citizens, those who have toiled and contributed to the nation, now forced to endure the indignity of queuing for their pensions. It’s a national disgrace, a testament to the bureaucratic ineptitude that plagues our institutions. Surely, a thunder 5.0, delivered with the righteous fury of a vengeful deity, is the only fitting punishment for such callous disregard.

Fuel Scarcity 

The cinemas, the places of worship, the airports, the immigration offices, the passport offices, the exam halls – all are united by the common thread of the queue. It’s a social equalizer, a national leveller, reminding us that no matter our status, our wealth, or our influence, we are all subject to the whims of the queue.

Even our roads are not immune. The infamous “go-slow,” a queue of cars stretching for miles, is a daily ordeal, a test of patience and a testament to our collective acceptance of gridlock as a way of life. It’s a symphony of honking horns and frustrated sighs, a mobile queue that moves at a snail’s pace.

 

One might argue that the queue is a symbol of our resilience, our ability to endure hardship with a stoic shrug and a wry smile. But is it really resilience, or is it a learned helplessness, a passive acceptance of inefficiency? Are we so accustomed to queuing that we’ve forgotten what it’s like to live in a system that functions efficiently?

Perhaps the queue is a reflection of our national character, a testament to our communal spirit. We queue together, we suffer together, we complain together. It’s a shared experience, a collective ordeal that binds us together. But is it a bond we should celebrate, or a symptom of a deeper malaise?

The queue, in all its forms, is a mirror to our society, reflecting our strengths and our weaknesses. It’s a reminder that we are a nation of patient people, but also a nation plagued by inefficiency. It’s a testament to our communal spirit, but also a symbol of our collective acceptance of mediocrity.

 

We must ask ourselves: are we destined to forever shuffle in these endless lines, or can we break free from the shackles of the queue? Can we create a system where efficiency reigns, where queues are the exception rather than the rule? Can we build a nation where the “go-slow” is a relic of the past, and the only queues we encounter are those at the gates of paradise?

Until then, we will continue to queue, to shuffle, to sigh, and to laugh at the absurdity of it all. For in Nigeria, the queue is not just a line; it’s a way of life. And perhaps, just perhaps, it’s a story we tell ourselves, a shared narrative that binds us together, even as it tests the very limits of our patience, the question is how long do we have to stay in the queue waiting for the good of governance, the best of leadership at the very local level, when will the queues for better education, accessible healthcare be a right to every Nigerian—Only time will tell.

—

In a dramatic ruling that has sent shockwaves through Nigeria’s political landscape, the Supreme Court affirmed a federal high court judgment that has reshaped the status quo in Rivers State. The language used in this ruling seems laden with subjective undertones, which could stir strong emotional responses. Such language, in a legal setting, arguably oversteps the boundary between legal clarity and the realm of personal opinion. The emotional tone woven through the judgment—while perhaps reflecting the Court’s sentiments on the case—could be seen as subjective for a ruling of this magnitude. I dare not question, but this is undeniably something that is left to the legal eye for further scrutiny.

The apex court’s decision reinforced this intervention but also faulted the Abuja Court of Appeal for attempting to void the federal high court’s judgment. There seems to be an undercurrent of frustration in this strong critique of the actions of the lower court. This ruling, while legally binding, carries an emotional charge that could be interpreted as subjective. I dare not question, but this raises the concern of whether such a judgment, laden with subjective emotional tone, compromises the Supreme Court’s duty to remain impartial in its rulings. The impartiality of the Court’s approach is something that warrants careful legal review.

One of the central aspects of the ruling was the Court’s statement that the 27 lawmakers—allegedly defected from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC)—remain legitimate members of the Rivers State House of Assembly. The use of “allegedly” and “still legitimate” seems subjective. It creates an atmosphere of uncertainty where there should be clarity. By framing the matter with such ambiguity, the ruling seems to inject a subjective interpretation into what should be an unambiguous legal question. This leaves room for interpretation and further analysis, and is undoubtedly something left to the legal eye for consideration.

In the words of Justice Emmanuel Akomaye Agim, “It is an act of indiscipline and a joke taken too far which has no place in a democracy.” This judgment carries a subjective tone that could be seen as more of a political critique than a legal one. Phrases like “indiscipline” and “a joke taken too far” might resonate with the public, but they also reflect a personal viewpoint that could be seen as subjective. Such language, while emphatic, goes beyond the legal reasoning into the realm of moral judgment. I dare not question, but for a judgment of such consequence, one might expect more neutral and legal language instead of emotionally charged rhetoric. This is left to the legal eye to determine its appropriateness.

The apex court also stated that “Four members sitting as purported members of the House of Assembly in defiance of a subsisting court order is a nullity.” The use of the word “purported” carries an implicit dismissal of the actions of those involved, casting them in a light of illegitimacy that seems almost definitive. By choosing this language, the Court introduces a subjective judgment, which, while impactful, may not always serve to clarify the legal process as fully as a neutral statement would. This raises the question of whether the Court’s role is to provide objective legal analysis or to weigh in on the perceived legitimacy of political actors in such a charged atmosphere. This again is left to the legal eye for further scrutiny.

The justices emphasized the importance of protecting the legislature, calling it “the core institution of governance” that must be upheld “at all costs.” “At all costs” introduces a subjective, dramatic imperative. While this language might reflect the Court’s commitment to upholding democratic processes, it could be seen as a subjective rallying cry that leaves no room for nuance or the careful weighing of competing interests within the legal framework. I dare not question, but this strong language is certainly something that requires careful legal analysis to determine its appropriateness.

Justice Agim also criticized Governor Siminalayi Fubara for using his immunity under Section 308 of the 1999 Constitution to justify unconstitutional actions, calling it “an act of indiscipline born out of executive power.” Labeling the actions as “indiscipline” introduces a subjective critique into a legal assessment. While the legal principle may be valid, the framing of these actions in terms of “indiscipline” seems to cross the line from legal analysis into a moral critique. This subjective interpretation of the governor’s behavior could be considered a deviation from the expected objectivity of a Supreme Court decision. This is left to the legal eye to scrutinize further.

The Court also noted that “the governor has chosen to collapse the legislature… as it is there is no government in Rivers State.” This bold claim is highly subjective. It attributes intentionality to the governor that goes beyond the legal facts of the case. It seems to offer a psychological interpretation of the governor’s actions, speculating on his motives and character rather than focusing solely on his legal responsibilities and actions. Such attributions of intent seem to shift the discussion from legal facts to political interpretation, which is left to the legal eye for careful consideration.

In addition, Justice Agim remarked, “What he has done is to destroy the government because of his fear that he wants to be impeached.” This statement reads like a psychological analysis rather than a legal judgment. It attributes subjective psychological motives—“fear of impeachment”—to the governor, which raises the question of whether the Court’s role is to interpret legal actions or to engage in speculation about political and personal motivations. This is an element that is clearly left to the legal eye to assess for its appropriateness within a legal judgment.

Furthermore, the Court noted that it was becoming a pattern for those in executive power, when feeling threatened by impeachment, to resort to tactics such as demolishing buildings or other unconstitutional actions. The use of “becoming a pattern” suggests a subjective generalization. While the Court may be trying to highlight potential abuses of power, such sweeping statements imply a recurring problem without clear, substantiated examples of the “pattern” described. Generalizations in a legal ruling could lead one to question the line between legal reasoning and subjective political commentary. This aspect of the ruling is certainly left to the legal eye for deeper review.

This subjective approach by Justice Agim was pointed out by the Rivers State Information Commissioner, who responded further: “We believe that the determination of the main issue of defection of the 27 lawmakers is a matter not before the Supreme Court as it is pending at the Federal High Court in Port Harcourt.” The Commissioner’s statement offers an important critique of the Court’s jurisdiction. His point suggests that the Supreme Court may have prematurely entered a matter that was still under deliberation at a lower court, raising questions about the appropriateness and timing of the Court’s intervention. This adds to the growing concern that the Court’s ruling may have been more subjective than legally warranted. This is an issue clearly left to the legal eye for further consideration.

Justice Agim, who delivered the verdict, ruled that no funds should be released to the Rivers State Government until Speaker Martin Amaewhule’s leadership passes a lawful Appropriation Law. This ruling introduces a subjective element, especially considering that the case is still pending before the federal high court, as the Rivers State Commissioner of Information has pointed out. The Court’s decision to issue such a directive while the matter is under consideration by a lower court may be seen as a subjective intervention. The appropriateness of this ruling, particularly in light of the pending case, is something left to the legal eye for scrutiny.

In its judgment, the Supreme Court also directed the Central Bank of Nigeria (CBN) and the Accountant-General of the Federation to halt the release of federal funds to the Rivers State Government. While the Court described the governor’s actions as problematic and inconsistent with legal requirements, this characterization could be seen as subjective, especially considering the immediate financial impact on the state’s ability to pay bills and meet obligations. I dare not question, but such terms may not fully capture the complexities of the situation, particularly as the matter remains under appeal, especially regarding Speaker Amaewhule’s leadership and the defection issue. A more comprehensive legal review could offer further clarity.

The Court further ruled that the suspension of funds would remain until Governor Fubara addresses these concerns with Speaker Amaewhule’s leadership. While the decision is clear, the characterization of the governor’s actions may oversimplify an issue still under judicial review. I dare not question, but this decision may benefit from further legal examination in the appeals court, particularly in light of the Rivers State Commissioner’s statement that the matter remains unresolved.

Justice Agim also stated that no funds should be released until Speaker Amaewhule’s leadership passes a lawful Appropriation Law. This connects the release of funds to the legislative process, which may seem premature, especially with the case of defection still pending. The Court also ordered the return of the Clerk and Deputy Clerk to their positions. I dare not question, but the involvement of the judiciary in such executive matters raises questions about the Court’s role in this decision. These actions remain open to further legal scrutiny as the case continues.

The Supreme Court has invalidated the local government elections conducted by the Rivers State Independent Electoral Commission (RSIEC) on October 5, 2024, citing breaches of the Electoral Act. I dare not question, but why was there no directive for a new election, especially considering that the previous local government chairpersons had overstayed their terms and refused to step down? Could the Court’s decision, though legally sound, have overlooked the practical consequences of leaving the leadership vacuum unaddressed?

Justice Jamilu Tukur’s ruling emphasized procedural errors, particularly continuing voter registration after the election date was announced. I dare not question, but does this focus on procedural issues, without providing clear guidance for the next steps, seem to leave the state vulnerable to political instability? Is the Court’s emphasis on legality potentially subjective, without sufficient consideration for the political and governance realities on the ground?

The Court also upheld the Federal High Court’s decision barring INEC from providing the voters’ register to RSIEC. I dare not question, but what is the implication for governance in Rivers State without a clear path forward? Does this gap in the ruling suggest a subjective approach, without a comprehensive directive to resolve the leadership crisis?

Given these circumstances, I dare not question, but could the Court have been more proactive in directing a new election to address the leadership vacuum? The absence of such guidance seems to leave the political landscape open to further challenges, raising questions about the balance between legal precision and practical governance.

Lastly, the implications for the future of the Rivers State government remain uncertain, with the role of the legislature being reasserted in a way that could shift the balance of power. This case, marked by its subjective language, presents a complex situation that calls for further legal analysis. I dare not question, but the Supreme Court’s ruling raises questions about the actions of political figures in Rivers State and how the law responds to such developments. Could the Court’s decisions, though grounded in law, be overlooking the broader consequences for the people, especially in a region as sensitive as the Niger Delta?

The immediate effects on livelihoods, institutions, and governance could be profound. I dare not question, but one might wonder whether the Court’s moves, while legally sound, could inadvertently complicate the already delicate political and economic landscape. Is the lack of clear guidance on how to resolve the leadership vacuum a decision that leaves too much open to uncertainty?

This complexity, coupled with the potential for both legal and political fallout, is certainly something left to the legal eye for careful review. However, the manner in which these decisions unfold will undoubtedly impact the people, and it is crucial to approach such matters with the necessary sensitivity, given the unique challenges of the Niger Delta region.

Analysts have labelled the consumer goods sector as undervalued in the Nigerian stock market, highlighting that macroeconomic conditions and consumer engagement are crucial for its growth.

This topic was explored on the podcast “Drinks and Mics,” co-hosted by Ugo Obi-Chukwu, CEO of Nairametrics; Akinbamidele Akintola, CCO of Alerzo; and Arnold Dublin Green of Cordos Capital.

When asked which sector presents undervalued growth opportunities, the CCO of Alerzo remarked, “Undervalued right now, I think the consumer goods sector.”   

Further elaboration revealed that the existing macroeconomic conditions and consumer engagement in the sector are not strong enough to attract investors seeking undervalued opportunities.

Despite revenue growth for most consumer goods stocks, favourable macroeconomic conditions and supportive factors are still necessary to fully transition the sector to a bullish phase.

“It is not volume; volume is growing, but the price of consumer goods is moving faster than volume,” Akinbamidele noted. 

The analysts cautioned that price shocks resulting from increases could deter consumers in the short term, potentially leading to bearish price movements in company stocks.

Spike in finance costs 

Finance costs for major FMCG companies in Nigeria surged by 133.3% year-on-year, reaching N1.074 trillion in the first nine months of 2024, compared to N460.22 billion in 2023.

• Companies such as Champion Breweries, International Breweries, Nigerian Breweries, BUA Foods, Dangote Sugar, NASCON, Unilever, Cadbury, and Nestlé are facing mounting pressure from increased foreign exchange losses, challenging debt profiles, and rising interest rates.
• This significant increase underscores the broader economic challenges impacting these companies. Nigeria’s economy has been grappling with rising interest rates, driven by the central bank’s efforts to combat inflation, which has made borrowing more expensive and increased the cost of servicing debt.
• Additionally, the devaluation of the naira has resulted in substantial foreign exchange losses for companies with dollar-denominated liabilities.

For FMCG companies, these issues are further compounded by declining consumer purchasing power, which limits their ability to pass on rising costs to consumers.

Market trend in 2025  

The Consumer Goods Index is experiencing a strong upswing in 2025, following a year-to-date performance of 54.44% in 2024. This bullish momentum is marked by significant price increases driven by strong rallies in key individual stocks.

• The year 2025 began with the index at 1,743.4, quickly surpassing the 1,800 mark to reach 1,809.1 by the fifth week.
• However, a slight pullback in early February brought the index down to 1,733, reflecting a decline of over 3.60% from its previous high of 1,809.1.

Despite this setback, the index experienced a rebound, aided by a rise in heavyweight stocks during the week ending February 21, 2024.

For February 2024, the index achieved a 1.70% month-to-date performance, finally ending the month at 1,839 with a market volume of 14 million shares.

[Nairametrics]