All Posts in "Dan Poster"

50,000 Benefits As NNPCL/TotalEnergies JV Delivers Infrastructure Projects 

 

The Nigerian National Petroleum Company Limited (NNPCL) and TotalEnergies Joint Venture (JV) have commissioned seven development projects spanning health care, infrastructure, agriculture, economic empowerment, and human capacity development.

The projects under the Obagi Oilfield Host Communities Development Trust (HCDT) in OML58, Ogba/Egbema/Ndoni Local Government Area of Rivers State aimed at building capacity of community people to further improve economic development in the area.

The projects, executed under the Petroleum Industry Act (PIA) 2021, were drawn from the Community Development Plan (CDP) in which 539 projects were identified across 64 host communities.

The Managing Director, TotalEnergies EP Nigeria Limited and Country Chair of TotalEnergies in Nigeria, Mr. Matthieu Bouyer, while speaking at the event, said: “The projects with impacts on health, agriculture, livelihood support, human capacity development, economic empowerment, among others, are part of the early fruits of the establishment of the HCDTs under the Petroleum Industry Act, (PIA) 2021.

The establishment of the HCDTs under the Petroleum Industry Act 2021 marked a new era in community engagement; one that places host communities at the centre of development planning and execution.”

He noted further that, “The commissioning of these projects reflects TotalEnergies’ identity as a responsible multi-energy company committed to enhancing the well-being of its host communities, in alignment with our ‘Sustainable Lever 4: Our Communities’. Through our five levers for sustainable change, we continue to give tangible expression to our broader development strategy as an energy company in transition and committed to the implementation of the 17 UN Sustainable Development Goals as it relates to our host communities.”

Mr, Bouyer reassured the Obagi people and Nigerians that,” We will continue to work with industry stakeholders for effective implementation of the PIA to ensure the sustainable socio-economic development of our host communities and the country at large.”

In his remarks, the Chairman, Senate Committee on Host Communities, Senator Ben Agadaga described the projects as quite significant, attributing the relative peace in the Niger Delta and the oil industry to the achievements of the PIA such as the Obagi HCDT.

River State Deputy Governor, Prof. Ngozi Odu, who is from the area recalled the challenges faced by the people especially poor infrastructures before the implementations of the projects.

She applauded Total Energies and its partners for implementing the PIA. She also thanked President Bola Tinubu and members of the National Assembly for creating the enabling environment to achieving such milestones.

Also speaking, the Chairman, House Committee on Host Communities, Dumnamene Dekor, represented by a member of the Committee, Cyril Hart, expressed delight on the quality of the projects delivered, stating that it is joyful to see communities enjoying social economic benefits from oil and gas revenue which according to him, brings peace.

On his part, the Executive Commissioner, Nigeria Upstream Petroleum Regulatory Commission, NUPRC, Capt. John Tonlagha, who represented the Commission Chief Executive, described the projects as a true representation of wisdom, accountability and diligence.

He said, ” This milestone translates to impacts, touching lives and strengthening sustainability. It shows that prioritizing dialogue over conflict is what has made this achievement possible. Sustainable development cannot thrive without support and ownership. Today, you have proven to Nigeria and the world that true progress is best built on foundation of unity and peace”.

Community leaders expressed delight at the initiative which directly or indirectly impacts more than 50,000 community residents, and called on people, especially the youth, to take ownership of the projects to ensure sustainability for generations to come.

 

Dan Poster by — September 27, 2025 in Business 0
Unity Bank Shareholders Approve Merger With Providus Bank

Shareholders of Unity Bank Plc have approved the proposed merger with Providus Bank Limited, marking a major milestone in the business combination of the two financial institutions.

At the Court-Ordered Meeting held on September 26, 2025, at the OOPL Hotel in Abeokuta, Ogun State, 295 shareholders participated and deliberated on all items in the Scheme of Merger. Of these, 293 shareholders representing 99.32% of total shareholding (₦4.4 billion in value) voted in favour of the resolutions, while 2 shareholders representing 0.68% voted against.

As part of the Scheme Consideration, Unity Bank shareholders will receive ₦3.18 per share or be allotted 18 ordinary shares of ₦0.50 each in Providus Bank Limited (credited as fully paid) for every 17 ordinary shares of Unity Bank Plc held. Upon completion, Unity Bank’s entire share capital will be cancelled, and the Bank dissolved without winding up, while Providus Bank Limited will retain its certificate of incorporation as the enlarged bank.

Speaking on the development, Chairman of Unity Bank Plc, Hafiz Mohammed Bashir, said: “This approval by our shareholders is a strong vote of confidence in the merger and what it represents for the future. By joining forces with Providus Bank, we are creating a stronger, more competitive, and more resilient institution that will deliver long-term value to our customers, shareholders, and the Nigerian economy.”

He stated that the new name of the enlarged entity shall be Providus-Unity Bank (PUB) to reflect the core loyalty present in the vast northern market.

The Chairman clarified to the shareholders during the Court-ordered meeting that the NGX lifted the suspension of trading of Unity Bank shares on the floor of The Exchange on 25th September 2025, with a remarkable crossing of 4.004Billion units of AMCON shares (representing 34% of issued shares of Unity Bank Plc) to an existing shareholder of Unity Bank and not to Providus Bank.

Shareholders also authorised the Bank’s Directors and Solicitors/Transaction Advisers to seek the necessary Court orders and take all required actions to give full effect to the Scheme.

Analysts commend the shareholders for endorsing the merger to pave the way for the emergence of a financial powerhouse anchored on strong market positioning with the capacity to take on the competition on the strength of both traditional and modern digital Banking.

Dan Poster by — September 27, 2025 in Business 0
Dangote Petroleum Refinery Reorganisation: Commitment to Safety, Integrity and Workers’ Rights

 

 
The Dangote Petroleum Refinery have  clarify on the recent reports concerning the ongoing reorganisation within its facility.
In a press statement from the company said that this exercise is not arbitrary. “It has become necessary to safeguard the refinery from repeated acts of sabotage that have raised safety concerns and affected operational efficiency”.
“The foregoing decision was taken in the best interest of the Refinery as result of intermittent cases of sabotage in the various units of the Refinery with dire consequences on human life and related safety concerns”.
“We remain vigilant to our internal systems and vulnerabilities to ensure the long-term stability of this strategic national asset. It is imperative to protect the refinery for the benefit of Nigerians, our partners across Africa, and the thousands of people whose livelihoods depend on it”.
“Over 3,000 Nigerians continue to work actively in our Petroleum Refinery, at present. Only a very small number of staff were affected, as we continue to recruit Nigerian talent through our various graduate trainee programmes and experienced hire recruitment process”.
“We recognise and uphold internationally accepted labour principles, including the right of every worker to freely decide whether or not to join a union. Our commitment to workers’ rights is unwavering”.
The Dangote Petroleum Refinery exists to serve Nigerians, to strengthen Africa’s energy independence, and to create decent, sustainable jobs. We will continue to work in partnership with our employees, regulators, and stakeholders to uphold the highest standards of safety, transparency, and accountability, it stated.
Dan Poster by — September 27, 2025 in Business 0
Tax stamp plan will hurt consumers, says MAN

 

The Manufacturers Association of Nigeria has cautioned the Federal Government against the proposed introduction of a Tax Stamp System for excisable products, warning that the policy would increase production costs, harm consumers, and contravene the Nigeria Tax Act 2025.

In a statement by the Director-General of MAN, Segun Ajayi-Kadir, said the association appreciated the government’s drive to modernise tax administration, but the proposed measure “risks clawing back the reliefs granted under the 2025 Tax Act.”

Ajayi-Kadir said, “The introduction of a tax stamp system amounts to giving with one hand and taking back with the other. It would impose a hidden tax on industries under the guise of compliance, with small and medium-sized industries bearing disproportionate burdens.”

He stated that the measure would increase compliance costs that producers and importers would ultimately pass on to consumers, thereby worsening inflationary pressures.

Ajayi-Kadir observed that introducing a Tax Stamp System for excisable products could push households toward cheaper illicit products and erode the competitiveness of Nigerian manufacturers under the African Continental Free Trade Area.

DG noted that international experience had shown that tax stamps deliver limited revenue gains while creating heavy compliance and operational bottlenecks. He pointed to studies in Ghana and Uganda which found that stamp systems imposed significant cost burdens without curbing illicit trade.

Ajayi-Kadir stressed, “Paper-based tax stamps are prone to falsification, making it difficult for consumers and retailers to distinguish between genuine and counterfeit goods. Digital stamps, on the other hand, cut productivity by up to 40 per cent and have not reduced illicit trade.

He also argued that Nigeria already had home-grown digital tools such as the Customs’ B’Odogwu Automated Excise Register System and the Federal Inland Revenue Service’s e-invoicing platform, which provide real-time visibility of excise operations. “These tools already give the government the visibility that tax stamps claim to provide, without adding redundant layers,” he said.

MAN warned that introducing tax stamps would undermine the government’s efforts to promote local manufacturing and job creation. The association listed risks including increased circulation of counterfeit goods, reduced consumer demand, potential job losses, and deterrence of new investment in the sector.

Ajayi-Kadir added, “At a time when operators are grappling with rising excise rates, high energy prices, inadequate power supply, and high inflation, the additional burden of implementing tax stamps is a serious threat to industrial sustainability.”

He urged the government to reject any persuasion to roll out the system “in whatever guise or form” until a comprehensive stakeholder engagement and impact assessment were conducted.

Instead, MAN called on the government to strengthen existing digital fiscal tools and border enforcement, while adopting smarter, cost-effective alternatives such as targeted audits and risk-based compliance checks.

Ajayi-Kadir concluded, “Tax stamps often hinder local industry, erode gains in tax simplification, and yield limited revenue impact. The government should strengthen existing systems rather than impose undue burdens on manufacturers and consumers

Dan Poster by — September 27, 2025 in Business 0

Former President Goodluck Jonathan on Thursday night, met with the National Chairman of the coalition African Democratic Congress, ADC, David Mark.

The meeting came shortly after Mark, former vice president Atiku Abubakar and other top members of the ADC held its First National Caucus meeting in Abuja.

Although the agenda for the meeting could not be ascertained immediately, it may not be unconnected to the 2027 presidential election.

DAILY POST reports that some members of the main opposition Peoples Democratic Party, PDP, have been wooing Jonathan to pick the party’s ticket and contest the next election against President Bola Tinubu.

Jonathan, who lost the 2015 presidential election to the late President Muhammadu Buhari, is yet to declare his interest in the presidential race.

However, it has been established that the former president is entitled to disputable one more tenure.

On September 11, former Labour Party presidential candidate, Mr Peter Obi, met Jonathan in Abuja, fueling more speculations about his stance on the 2027 election.

Meanwhile, the ADC National Chairman, Mark, was the Senate President during the administration of Jonathan and both leaders shared a great working relationship.

Dan Poster by — September 26, 2025 in Politics 0
2027: Quit other political parties now – ADC warns members

The African Democratic Congress, ADC, has warned its members who still have allegiance to other political parties to resign ahead of the 2027 general elections.

The party’s National Publicity Secretary, Bolaji Abdullahi, gave this charge while addressing newsmen in Abuja on Thursday after a caucus meeting attended by top party leaders and political figures.

“Though a final order has been given to all members to resign membership of other political parties, the caucus was silent on the timeline,” Abdullahi said.

The caucus also announced that all issues concerning the African Democratic Association, ADA, had been concluded.

“The Coalition has rested everything concerning the ADA. That means, they are not interested in the registration or otherwise of the association,” he added.

Speaking on the 2027 race, the party’s spokesman stated that the ADC’s presidential aspirants had agreed to back whoever emerges winner of the primaries.

“All the presidential aspirants have agreed to support whoever wins the primary election,” he stated.

He further revealed that the National Working Committee, NWC, would soon announce dates for primaries in Osun and Ekiti ahead of the off-cycle governorship elections in both states.

Those present at the meeting included National Chairman David Mark; former Vice President Atiku Abubakar; National Secretary Ogbeni Rauf; former Kaduna State governor, Mallam Nasir el-Rufai; former Sokoto State governor, Senator Aminu Tambuwal; and former Rivers State governor, Chibuike Amaechi.

National Leader of the Labour Party, Peter Obi, was absent but sent apologies and reaffirmed his commitment to the coalition.

Dan Poster by — September 26, 2025 in Politics 0
Ibadan residents celebrate Ladoja at 81

Oba LadojaThe ancient city of Ibadan was agog on Thursday as former Oyo State Governor and Olubadan-designate, Oba Rashidi Ladoja, marked his 81st birthday in a jubilant atmosphere that spilled into the streets.

Ladoja, who will on Friday (today) be crowned the 44th Olubadan of Ibadanland at the Mapo Hall, received glowing tributes from relatives, friends, community leaders, and well-wishers who thronged his family compound to celebrate the double milestone.

The festivities at his compound, located a stone’s throw from Mapo, drew residents, traders, and supporters who described him as a humble leader with an uncommon love for the people.

The mood was festive as market men and women, neighbours, and family members dined and drank to mark his 81st birthday.

Speaking during the celebration, the Chairman of the Real Born Association Elders’ Forum, Isale-Osi, Toafeek Kayode Agesin, said the occasion was unique for the people of Ibadan.

“We are celebrating two events together. We are celebrating a former senator, a former governor, and now the Olubadan of Ibadanland, who clocks 81 years today.

“Baba is a special person; he loves the masses. He is humble, he is a leader, and he knows what the people need. The only thing we can do for him is to keep praying for him,” he said.

A market woman, Morufat Olaonipekun Adeshina, said, “Baba Ladoja is a good man. He is a man of many parts and we love him. My prayer is that his reign shall be successful,” she declared.

Dan Poster by — September 26, 2025 in General News 0
Kano arrests 78 suspected drug peddlers, thugs

Kano State mapThe Kano State Joint Task Force Committee for Peace Restoration and Youth Rehabilitation has announced that it arrested 78 suspected drug peddlers and thugs within four days.

The operation was conducted successfully following a four-day enforcement operation across multiple high-risk areas of the state.

Working in collaboration with the National Drug Law Enforcement Agency and the Nigeria Police Force, the task force arrested 60 suspects and recovered significant quantities of illicit drugs and other harmful substances.

This is contained in a statement by Sadiq Maigatari, the Public Relations Officer of the National Drug Law Enforcement Agency, Kano State Strategic Command, a copy of which was made available to Arewa PUNCH on Wednesday

“The operation targeted Mariri Yan’itace, Fagge, Badawa, Kasuwar Rimi, Masallacin Idi, Yankaba, Hotoro Flyover, Kofar Mata, Rijiyar Zaki and Jakara.

“Additional raids were carried out at Rumfa College, Dan’agundi Graveyard and Kofar Wambai. Several locations were revisited during the operation to ensure thorough enforcement,” the statement further noted.

Maigatari said the seized items included cannabis sativa, Diazepam, Exol-5, Pregabalin, rubber solution, Suck and Die, and several unconventional substances.

“Our commitment to eradicating drug abuse and thuggery in Kano is unwavering. We will continue to work tirelessly to ensure that those responsible for these crimes are brought to justice. The safety and well‑being of our citizens are at the top of the priority list.”

He disclosed that investigations into the arrested individuals were ongoing, adding that the Joint Task Force has vowed to ensure that all those found culpable are prosecuted to the full extent of the law, while simultaneously advancing rehabilitation and youth‑rehabilitation initiatives to address the root causes of substance abuse.

The commander of the NDLEA Kano State Strategic Command, A.I. Ahmad, commended the dedication of NDLEA personnel and thanked the Nigeria Police Force for their partnership in the operation.

He also expressed his appreciation for the efforts of the Kano State Government in supporting the operations.

The Task Force urged community members to remain vigilant and report suspicious activities, stressing that public cooperation is critical to sustaining gains and creating a safer, drug‑free environment for Kano’s youth and residents.

Dan Poster by — September 26, 2025 in General News 0
Makinde cuts short annual leave for Ladoja coronation

Oyo State Governor, Seyi -MakindeOyo State Governor, Seyi Makinde, on Thursday, cut short his 2025 annual leave to attend the coronation of the 44th Olubadan of Ibadanland, Oba Rashidi Ladoja, today (Friday).

The development followed the approval by the state House of Assembly of his notice of early resumption from leave submitted to the legislature on Thursday.

In the letter, the governor said he deemed it necessary to cut short his vacation and resume duty, due to the historic and culturally-significant event.

The House, presided over by the Deputy Speaker, Abiodun Fadeyi, acknowledged and approved the resumption letter of the governor.

The Deputy Speaker read the letter of resumption of duty during the plenary of the House of Assembly, and it was approved by the state legislative body.

The letter of resumption read: “I shall resume duty today, September 26, 2025, and hereby assume the full functions of the Office of Governor of Oyo State.”

Makinde expressed appreciation to his deputy, Bayo Lawal, for serving effectively as the acting governor during his absence and announced that the deputy governor would now return to his substantive role.

Members of the House of Assembly welcomed the decision and expressed support for his commitment to the cultural heritage.

They unanimously adopted the resumption notice and commended Makinde for showing leadership and honouring a momentous occasion in Ibadan’s history.

The House, therefore, reaffirmed its support for traditional institutions and lauded the proactive steps taken by the executive arm of government to ensure a smooth coronation ceremony of the 44th Olubadan.

Dan Poster by — September 26, 2025 in General News 0
Jigawa Assembly approves N58bn supplementary budget

Jigawa State Governor, Umar NamadiThe Jigawa State House of Assembly has passed a N58 billion supplementary estimate for the 2025 fiscal year.

The legislation followed the adoption of a report by the House Committee on Appropriations at the plenary on Thursday.

Chairman of the committee, Ibrahim Hamza-Adamu, said the supplementary budget arose from expected additional revenue accruing to the state from the federation account.

“The 2025 Appropriation Law appropriated the sum of N698,300,000,000 only for the recurrent and capital expenditure programme of the state during the 2025 fiscal year.

“With additional N58,000,000,000 of the supplementary appropriation budget, the total appropriation for the year will now be N756,300,000,000 only,” he said.

Hamza-Ibrahim urged the House to adopt effective oversight to ensure utilisation of the allocated funds in the approved areas.

The deputy speaker, Sani Isiyaku, who presided over the plenary, put the motion to a vote, and it was adopted unanimously by the members.

The News Agency of Nigeria (NAN) reports that the House approved the N689.3 billion Appropriation Bill for 2025 on December 31, 2024.

The budget tagged “Budget of Innovation and Transformation for Greater Jigawa” is made up of N90.7 billion personnel cost, N70 billion recurrent expenditure, and N537 billion in capital expenditure.

The lawmakers also approved N17 billion for the 27 local government areas of the state

Dan Poster by — September 26, 2025 in Cover 0