All Posts in "Dan Poster"

Aregbesola group tackles FG over Osun LG allocations

Omoluabi Progressives, a group loyal to former Minister of Interior, Rauf Aregbesola, has accused the Federal Government of unlawfully releasing local government allocations in Osun State to what it described as “illegal” council chairmen loyal to the All Progressives Congress.

The group, in a statement on Monday, warned the chairmen elected during the October 15, 2022 council election held under the administration of former Governor Adegboyega Oyetola, against spending the six months’ allocation recently released to them.

The chairman of the group, Mr. Isha Adesiji, said the release of the funds—allegedly paid into accounts belonging to persons not recognised by law—was “a gross violation of financial regulations” and an attempt by the APC-led Federal Government to convert Osun’s public resources into a political war chest.

“Government allocations cannot be paid directly or indirectly into any individual’s account. Doing so amounts to an egregious violation of financial procedures which the ICPC should urgently investigate,” Adesiji said at a press briefing in Osogbo.

“The so-called YES OR NO illegal chairmen must not touch the money. The Federal Government must stop treating Osun people’s resources as the APC’s political war fund.”

Adesiji alleged that the FG, instead of respecting court rulings and upholding due process, was “starving duly elected local government executives” produced by the Peoples Democratic Party administration of Governor Ademola Adeleke while empowering a “disbanded” set of chairmen reinstated by a controversial appellate judgment.

“This unconscionable act amounts to a declaration of war against the Nigerian Constitution and against the people of Osun State. It sets a dangerous precedent where the Federal Government disregards valid court judgments to entrench its party’s rejected cronies in power,” he said.

The Omoluabi Progressives urged professional bodies, civil society groups, and labour unions to resist what it called the Federal Government’s “creeping authoritarianism,” saying the issue went beyond partisan politics and touched on constitutional integrity.

But in a swift reaction, the Osun State chapter of the APC dismissed the group’s position as “belated and attention-seeking.”

The Osun APC  spokesperson, Kola Olabisi, accused the Aregbesola-backed group of siding with the PDP and misrepresenting the February 10, 2025 Court of Appeal judgment which, according to the APC, reinstated the party’s chairmen and councillors.

“It would be pertinent for discerning minds to ask if those driving the affairs of Omoluabi Progressives have just woken up from their slumber,” Olabisi said in a statement.

“Their tirade is not only stale but exposes their bias and desperation to remain relevant.”

Olabisi also challenged the Aregbesola group’s authority to interpret court judgments, urging it to focus on reviving the African Democratic Congress—under which Aregbesola serves as National Secretary—rather than “dabbling in issues that do not concern it.”

Dan Poster by — October 7, 2025 in General News 0
Solar panel importation hits N242.68bn

solar-power-panelsNigerians spent about N242.68bn on the importation of solar panels in the first half of 2025, underscoring the country’s sustained demand for renewable energy solutions even as the Federal Government intensifies efforts to boost local production.

The figure also places solar panels among Nigeria’s top imported commodities, according to the latest Foreign Trade Statistics from the National Bureau of Statistics, obtained by The PUNCH on Tuesday.

The report revealed that photovoltaic cells assembled in modules or made up into panels valued at N125.29bn were imported between January and March 2025. In the second quarter, imports worth N117.39bn were recorded, bringing the total for the first half of the year to N242.68bn.

However, the six-month figure marked a sharp decline compared to the N237.3bn recorded in the final quarter of 2024, indicating a slowdown in import demand.

The Federal Government has recently intensified its campaign to reduce dependence on imported solar panels, maintaining that Nigeria now possesses the capacity to drive local manufacturing.

The Managing Director/CEO of the Rural Electrification Agency, Abba Aliyu, stated that Nigeria’s installed solar module manufacturing capacity had increased to 600 megawatts, up from 110 megawatts previously.

He listed key facilities, including a 100MW plant in Lagos, a 250MW facility in Abuja, and others in Idu and Port Harcourt, as part of the country’s localisation drive.

According to him, over 50 renewable energy service companies are now active in Nigeria, compared to just about 10 a few years ago.

“We are changing the narrative,” Aliyu said. “Nigeria now has the capacity to produce solar panels locally and support the transition to clean energy.”

In March, the Minister of Science and Technology, Uche Nnaji, announced that the Federal Government would soon restrict solar panel imports under Executive Order, which prioritises local content in science, engineering, and technology.

Nnaji added that the National Agency for Science and Engineering Infrastructure and private investors had already commenced production, insisting that local output could meet domestic demand.

“With lithium in abundance here in Nigeria, we are processing materials for batteries and ensuring that homes, hospitals, and institutions benefit from clean mini-grid solutions. Personally, I have been off-grid for three years, and it works,” he said.

However, global consulting firm PricewaterhouseCoopers has advised caution, warning that an immediate ban on solar panel imports could backfire.

In its report titled ‘Rethinking Nigeria’s Proposed Solar Panel Import Policy’, PwC noted that a sudden restriction could stall progress on energy access, discourage investors, and create short-term supply shortages.

“While the push for local industrialisation is commendable, a phased reduction in imports over a three- to five-year period would be more effective,” the report stated.

PwC recommended that the government focus on creating an enabling environment for local manufacturers to scale up while enforcing strict quality control standards to prevent the influx of substandard panels.

Meanwhile, the State House has advanced its plan to go off-grid with the recent installation of solar panels at its conference centre, a signal of the government’s gradual shift towards sustainable and independent power supply.

It was reported that the State House allocated N10bn in the approved 2025 budget for the installation of a solar mini-grid at the Presidential Villa.

This comes as the overall allocation to the State House Headquarters rose from N47.11bn in the proposed 2025 budget to N57.11bn in the approved version, driven entirely by an increase in capital expenditure from N33.55bn to N43.55bn.

A breakdown shows that the additional N10bn was earmarked solely for the solar project titled ‘Solarisation of the Villa with Solar Mini Grid.’

The project is expected to reduce dependence on the national grid and cushion the impact of tariff hikes on government finances, though it quietly reflects dwindling confidence in the nation’s unstable power supply system.

Dan Poster by — October 7, 2025 in Business 0
Tinubu approves N4tn bond to clear GenCos debts – Power minister

ADEBAYO ADELABUPresident Bola Tinubu has approved a N4tn bond to clear verified debts owed to power generation companies and gas suppliers as part of efforts to stabilise Nigeria’s electricity market and restore confidence in the sector.

The Minister of Power, Adebayo Adelabu, made the disclosure in Abuja at the Expert Forum on ‘Uninterrupted Power: The Industrial Imperative’ organised by the Nigeria Economic Summit Group, where he outlined ongoing reforms under the Federal Government’s Renewed Hope Agenda to make the power sector sustainable and commercially viable.

According to him, the bond approval forms part of a broader financial stabilisation plan designed to address legacy liabilities that have hindered investment and liquidity across the electricity value chain.

“To stabilise the market, Mr President has approved a N4tn bond to clear verified GenCo and gas supply debts. Alongside this, a targeted subsidy framework is being developed to protect vulnerable households and ensure a sustainable path toward full commercialisation and a viable industry.”

He explained that the Federal Government is pursuing a comprehensive, multi-pronged approach to reposition the sector for “sustainability, efficiency, and growth”, spanning legislation, policy reform, infrastructure development, energy transition, and local content expansion.

The minister further stated that the government’s tariff policy reforms have begun to yield positive results, noting that through tariff policy reforms which enabled cost-reflective tariffs for select consumers, supply reliability has improved while reducing energy costs for industries.

He revealed that sector revenue had grown substantially in the last year, adding, “Industry revenue has increased by 70 per cent to N1.7tn in 2024 compared to the previous year, and the revenue is expected to exceed N2tn for 2025.”

While highlighting the government’s commitment to ensuring a stable electricity market, he emphasised that the debt clearance would provide relief to GenCos and gas suppliers whose unpaid invoices have long crippled generation capacity and operational efficiency.

The minister also assured stakeholders that ongoing efforts in infrastructure development, including the Presidential Power Initiative, are targeted at expanding generation and transmission capacity across the country.

He urged participants to support the Federal Government’s ongoing reforms, expressing optimism that collaboration with the private sector and development partners will accelerate Nigeria’s journey toward a stable, reliable, and industrially competitive power sector.

In the area of infrastructure development, Adelabu explained that the Federal Government had introduced targeted national programmes aimed at accelerating the viability, expansion, and modernisation of the national grid.

“Under the phase zero of the Presidential Power Initiative, we enhanced transmission capacity, grid stability, and overall system reliability, with over 700 megawatts of additional transmission capacity already achieved. Under Presidential Power Initiative Phase One, contracts have been signed with Siemens Energy, CMEC, Elswedy Electric, and Power China. Financing arrangements are underway to support implementation. Phase one is planned to add 7000 MW of operational capacity to the grid,” he said.

In parallel to the grid expansion, Adelabu stressed that generation capacity is being expanded through the rehabilitation of existing NIPP plants to unlock about 345 MW, alongside the successful integration of the 700 MW Zungeru Hydropower Plant into the grid.

Dan Poster by — October 7, 2025 in Business 0
Ecobank Nigeria upgrades mobile app

Managing Director/Regional Executive of Ecobank Nigeria, Bolaji LawalEcobank Nigeria has announced the launch of its upgraded mobile app targeted at delivering a faster, smarter, and simpler banking experience for its customers.

Disclosing this in a statement on Monday, the bank said that the upgrade reflected its commitment to digital innovation and financial empowerment.

The newly enhanced mobile app features a modern design and improved functionalities, including advanced facial recognition, seamless bill payments, airtime top-ups, and QR code payments, all tailored to make banking more convenient for customers on the go.

The Managing Director of Ecobank Nigeria, Bolaji Lawal, said, “These new features make smart banking effortless for our customers using their smartphones. The new mobile app leverages digital technology to offer real convenience, security, and flexibility, enabling individuals to manage their finances with ease.”

Also speaking, Executive Director, Commercial and Consumer Banking, Ecobank Nigeria, Kola Adeleke, explained, “The upgraded app comes with account opening, cardless onboarding, end-to-end card management for card request, activation, PIN change, block and unblock account, end-to-end profile management, dormant account reactivation and live monitoring of foreign exchange rates.”

He added, “This app is not just a digital tool; it represents how we want to engage with our customers. Our goal is to make banking faster, smarter, and simpler for our customers.”

The upgraded Ecobank Mobile App is now available for download on both the App Store and Google Play Store.

Dan Poster by — October 7, 2025 in Business 0
Fidelity Bank hosts Black-Tie Gala honouring Afreximbank President Prof. Benedict Oramah

Fidelity Bank hosts Black-Tie Gala honouring Afreximbank President Prof. Benedict Oramah - Business247News
In recognition of his unwavering commitment to Africa’s development, Fidelity Bank Plc recently hosted a grand black-tie dinner to celebrate the retirement of Professor Benedict Okechukwu Oramah, outgoing President and Chairman of the African Export-Import Bank (Afreximbank), after ten years of transformative leadership.
Held at the Lagos Continental Hotel on Thursday, 2 October 2025, the event was themed “Celebrating a Titan” and drew a distinguished gathering of dignitaries, captains of industry and international guests. They came together to honour a man widely regarded as one of Africa’s most influential financial leaders.
Welcoming guests to the event, Dr. Nneka Onyeali-Ikpe, Managing Director and Chief Executive Officer of Fidelity Bank Plc, described Prof. Oramah as “a towering figure in Africa’s economic renaissance.” She noted that his tenure at Afreximbank was defined by bold ideas, strategic foresight and a relentless pursuit of inclusive growth. “From Cairo to Kigali, Lagos to Lusaka, his influence has touched lives, empowered businesses and strengthened the very fabric of African integration,” she said. She also highlighted his role in pioneering initiatives such as the Pan-African Payment and Settlement System and his advocacy for intra-African trade and creative industries.
Among the guests in attendance were the Lagos State Governor, Mr. Babajide Sanwo-Olu; Ogun State Governor, Prince Dapo Abiodun; Minister of Art, Culture, Tourism and Creative Economy, Ms. Hannatu Musawa; Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole; and Minister of State for Finance, Dr. Doris Nkiruka Uzoka-Anite.
Special recognition was given to Mrs. Chinelo Oramah, whose steadfast support was acknowledged as instrumental to her husband’s success. “Her dedication to maintaining the home front has been pivotal,” said Dr. Onyeali-Ikpe, “as Prof. Oramah pursued the transformational initiatives that have distinguished his tenure.”
The evening featured tributes from several guests including Mr. Babajide Sanwo-Olu; Chairman of Vista Group Holding, Mr. Simon Tiemtore; and Chairman of Fidelity Bank Plc, Mr. Mustafa Chike-Obi, who described Prof. Oramah as “the most consequential African person in the last 10 years.”
In his remarks, Prof. Oramah expressed deep appreciation for the honour. “I want to thank the board and management of Fidelity Bank for this honour. It is not always that when a leader of an institution gets to the twilight of his tenure that those he works with deem it important to say we appreciate you. I really cherish this event. On behalf of my family and wife as well as the Afreximbank family, I say thank you.”
He also reflected on the longstanding relationship between Afreximbank and Fidelity Bank. “Our relationship with Fidelity Bank dates back to the 1990s and it has grown from year to year. Fidelity Bank is one of the trusted partners that we have. Fidelity Bank has helped us to achieve some of the things we have achieved here in Nigeria. When my dear sister, Nneka, took over, she did more than everyone expected. The transformation that we continue to see in Fidelity Bank is something that makes all of us proud. With all of the activities that you do that complement what we do at Afreximbank and the type of financing that supports what we do at Afreximbank, I believe that the partnership in the years ahead will grow even stronger.”
The evening was anchored by broadcast journalist Ojinika ‘Ojy’ Okpe and comedian and actor Okechukwu Anthony Onyegbule, popularly known as Okey Bakassi. The celebration reached its climax with a musical performance by Nigerian highlife singer Chinedu Okoli, professionally known as Flavour N’abania.
Dan Poster by — October 7, 2025 in Business 0
Checkpoint Chaos: Seme Customs Declares War on Extortion Rackets Choking Lagos-Abidjan Trade Route

TRANS-BORDER TRADE: Police, Immigration, Others Maintain 400 Illegal Checkpoints, Extort Commuters Along Mile 2 -Seme Border
The Nigeria Customs Service (NCS), Seme Command, has vowed to crack down on rampant illegal checkpoints along the Lagos-Abidjan ECOWAS trade corridor, which have been crippling regional commerce and damaging Nigeria’s international image.
Customs Area Controller, Seme Command, Comptroller Wale Adenuga,
 at a high level stakeholders meeting at the Command on Monday,
condemned the proliferation of unauthorised roadblocks, describing them as a “national embarrassment” that stifles legitimate trade and undermines Nigeria’s competitiveness.
“We are going to work, and we will make Seme corridor road a place of sanity”, Adenuga declared. He exposed how multiple illegal roadblocks have turned a vital trade artery into a nightmare for cross-border traders, tourists, and transporters. The Customs chief vowed decisive action, pledging to mobilise security agencies and border communities to eliminate the checkpoints and restore credibility to Nigeria’s border operations.
Adenuga issued a stern warning to security agencies operating outside legal checkpoints to “steer clear from the corridor”, emphasising that the Customs management has banned the activities of ‘camp boys’ on the highways. He stressed the importance of transparency and cooperation among all parties, urging honest dialogue to confront the systemic problems affecting the border axis.
“The more we facilitate legitimate trade, the better for our country. When trade thrives, crime reduces. That is the vision our Comptroller General, Adewale Adeniyi, has consistently championed – building a legacy of trade facilitation and a conducive environment for economic growth”, he stated.
The CAC also highlighted disparities between the Nigerian and Beninese border operations, noting that Benin Republic authorities maintain a more coordinated and transparent process for inspecting vehicles suspected of conveying questionable goods.
During the high-level stakeholders’ engagement, Hon. Joseph Agoro, a grassroots politician, decried the menace of unofficial camp boys allegedly hired by security operatives. He accused them of terrorising residents and travellers, calling on Customs to act swiftly to end their activities.
Representing the Nigerian Ambassador to Benin Republic, Ambassador Olukayode Aluko, the Defense Attaché, Colonel S. Yahaya, assured participants that all resolutions from the summit would be implemented without delay.
The meeting brought together a broad spectrum of stakeholders, including freight forwarders, traditional rulers, and representatives of the Nigerian Army, National Drug Law Enforcement Agency (NDLEA), Nigeria Security and Civil Defence Corps (NSCDC), and Nigeria Immigration Service (NIS). Participants shared operational challenges affecting their agencies within the Badagry–Seme corridor and expressed support for Customs’ reform efforts.
As the Seme Command intensifies its campaign, expectations remain high that the long-troubled Lagos-Abidjan corridor could soon regain its status as a model of efficient trade facilitation and regional cooperation.
Dan Poster by — October 7, 2025 in General News 0
UBA marks 2025 Customer Service Week

Oliver Alawuba

The United Bank for Africa Plc has officially flagged off its annual Customer Service Week for 2025.

Embracing the global theme of ‘Mission Possible’, the bank indicated a commitment to making the impossible possible for its customers across Africa and beyond.

Every year, Customer Service Week celebrates the vital role of service excellence and customer engagement, and UBA joins the rest of the world to mark this all-important event, given its Customer First philosophy, which states that the customer is at the forefront of all its activities.

In a statement on Sunday, the lender said that this year’s theme resonates deeply with the bank’s vision of turning challenges into possibilities, consistently going beyond expectations to deliver innovative solutions for individuals, businesses, and communities.

Speaking on the 2025 Customer Service Week launch, UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, said that the bank prides itself as customer-centric and does all it can to ensure the satisfaction of its customers across all touchpoints.

“As Africa’s global bank, we understand the unique challenges our customers face across different markets. That is why we are constantly investing in technology, people, and processes that make banking easier, faster, and more rewarding. This week is not just about celebrating our customers, but about renewing our pledge to make the impossible possible for them, because at UBA, we remain committed to not just meeting expectations, but we are also committed to exceeding them.”

Also speaking, UBA’s Group Head, Customer Experience, Michelle Nwoga, noted that this year’s celebration marks a renewed commitment to deepening the bank’s focus on customer satisfaction and doing even more to deliver value at every touch point.

“At UBA, our mission is clear: to make the seemingly impossible possible for our customers. Whether it is enabling cross-border transactions in real time, ensuring seamless digital access to banking, or supporting small businesses to scale against the odds, we are committed to delivering service that transforms lives. This week is a celebration of that mission and of the customers who inspire us to raise the bar every day,” she noted.

As part of this year’s celebration, the bank said it is rolling out a series of mission-driven initiatives that go beyond banking, including business series for Small and Medium Scale business owners, opportunities for their kids and wards to participate in the ongoing National Essay Competition for Senior Secondary Schools, and other financial literacy programmes to equip them to navigate today’s economic realities.

Dan Poster by — October 7, 2025 in Business 0
Seplat, Mansard lead rally as NGX adds N786bn

Nigerian Exchange LimitedInvestors in the Nigerian Exchange Limited extended their winning streak on Monday, as bullish trading lifted the market capitalisation by N786bn to close at N91.9tn.

The positive momentum came despite a slight decline in trading volume and turnover, driven largely by price appreciation in heavyweight stocks such as Seplat Energy Plc and AXA Mansard Insurance Plc.

At the close of trading, the All-Share Index rose by 1,238.71 points, or 0.86 per cent to settle at 144,822.75 points, marking a one-week gain of 1.89 per cent, a four-week rise of 4.2 per cent, and a year-to-date increase of 40.71 per cent.

Data from the NGX showed that investors traded a total of 519.9 million shares valued at N14.53bn across 35,467 deals. This represented a five per cent decline in volume, a 26 per cent drop in turnover, but a 31 per cent improvement in the number of deals compared with the previous trading session.

In total, 128 equities participated in trading, ending with 47 gainers and 24 losers.

Seplat Energy Plc led the gainers’ chart with a 10 per cent increase to close at N5,917.20 per share. It was followed by AXA Mansard Insurance Plc, which also gained 10 per cent to finish at N15.84 per share. Skye Shelter Fund appreciated by 9.97 per cent to close at N381.10, while Ellah Lakes Plc rose 9.95 per cent to end the session at N14.81 per share. Chams Holding Company Plc advanced 9.87 per cent to N4.23, and Omatek Ventures Plc gained 9.84 per cent to close at N1.34 per share.

On the losers’ chart, International Energy Insurance Plc led with a decline of 8.42 per cent to close at N2.72 per share. McNichols Plc followed with a loss of 8.31 per cent to finish at N3.20, while Thomas Wyatt Nigeria Plc shed 7.72 per cent to close at N2.99 per share.

Berger Paints Plc dropped 6.8 per cent to N37.00, ABC Transport Plc declined 5.81 per cent to N4.05, and C&I Leasing Plc fe 3.23 per cent to N6.00 per share.

Ellah Lakes Plc recorded the highest volume of traded shares, exchanging 80.07 million units valued at N1.18bn. Chams Holding Company Plc followed with 30.21 million shares worth N127.26m, while Sterling Bank Plc traded 24.74 million shares valued at N205.65m. Custodian & Allied Plc recorded 21.83 million shares worth N903.74m, and Guaranty Trust Holding Company Plc traded 20.06 million shares valued at N1.97bn.

In terms of value, GTCO led the chart with N1.97bn worth of shares, followed by Seplat Energy Plc with N1.65bn, Aradel Holdings Plc with N1.21bn, Ellah Lakes Plc with N1.18bn, and Zenith Bank Plc with N1.12bn.

Sectoral performance was largely positive, as the Oil and Gas Index gained 3.35 per cent, the Insurance Index rose 3.13 per cent, the Premium Index advanced 2.06 per cent, the Pension Index appreciated 1.23 per cent, and the Banking Index closed 0.64 per cent higher.

Market analysts attributed the sustained rally to strong investor sentiment in fundamentally sound stocks and renewed interest in oil and insurance equities, which continued to benefit from favourable sector dynamics.

Last week, the Nigerian Exchange Limited closed the first week of October on a positive note as investors gained N1.18tn in a four-day trading week, despite the Federal Government declaring Wednesday, October 1, a public holiday to mark Independence Day. The All-Share Index rose 1.02 per cent to close at 143,584.04 points, while market capitalisation appreciated 1.31 per cent to settle at N91.135tn, compared to N89.955tn in the previous week.

Dan Poster by — October 7, 2025 in Business 0
OPEC Agrees On 137,000 Barrels A day Crude Output Hike For November

Key producer members of the Organization of Petroleum Exporting Countries (OPEC) have agreed to raise their collective output ceiling by another 137,000 b/d in November.

“In view of a steady global economic outlook, and current healthy market fundamentals, as reflected in the low oil inventories, the eight participating countries decided to implement a production adjustment of 137,000 b/d from the 1.65mn b/d additional voluntary adjustments,” the OPEC secretariat said.

The decision comes as the group — Saudi Arabia, Iraq, Kuwait, Russia, the UAE, Algeria, Oman and Kazakhstan — began to unwind 1.65mn b/d of voluntary cuts this month, starting with an initial 137,000 b/d hike in their collective production target.

The 1.65mn b/d voluntary cut was agreed in April 2023 and originally included a small contribution from Gabon, which is not part of the latest plan to restore output.

The move reflects a continuation of the cautious approach that the group has chosen to take going into the fourth quarter of this year — a time when the world typically enters a seasonal lull in oil demand. The IEA has projected sizeable surpluses not just in the fourth quarter of this year, but also in 2026.

The group, accordingly, maintained deliberate ambiguity on production guidance beyond the coming month, just as it did at its previous meeting in September.

Delegate sources told Argus media that during the meeting, Saudi energy minister Prince Abdulaziz bin Salman openly asked Russia’s deputy prime minister Alexander Novak whether there had been any discussions or consultations on policy beyond November, and specifically whether any talks had been had around volumes other than the 137,000 b/d discussed and agreed today. Novak confirmed to the others in the group that no such consultations had taken place.

With concerns around oversupply lingering, some delegate sources questioned prior to the meeting whether additional barrels were required, arguing that the market is already “well supplied.” But delegate sources told Argus that today’s decision was nevertheless taken swiftly with no formal opposition.

“Let us continue returning those remaining barrels and see how markets react,” one delegate told Argus. “We can act accordingly as we retain considerable flexibility now,” the delegate added.

The group of eight has turned its attention to the 1.65mn b/d cut after completing last month the unwind of a separate 2.2mn b/d cut that was agreed in November 2023.

Ice Brent crude futures closed at $64.53/bl on 3 October, down by just $1/bl since the group last met in early September.

But as has been the case since the group began unwinding these cuts in April, the actual production increase in November is likely to fall short of the headline 137,000 b/d agreed today, both because of ongoing compensation obligations by past over-producers, and upstream and midstream bottlenecks in some member countries such as Russia.

Between April and August, Argus estimates that the group restored only 1.35mn b/d of production, far short of the notional 1.92mn b/d that the collective quotas rose by over this period. Since January, Opec+ production rose by 1.8mn b/d.

The eight producers are scheduled to meet again on 2 November to determine their policy move for December.

Dan Poster by — October 6, 2025 in Business 0
2027: APC will apply votes, not federal force to take over Abia – Deputy Speaker, Kalu

Deputy Speaker, House of Representatives, Benjamin Kalu has said that his party, the All Progressives Congress, APC, will not apply federal government force to win elections in Abia State in 2027.

He said the party would dislodge the ruling Labour Party with people’s votes.

He made the declaration in Umuahia on Sunday while addressing the members of Renewed Hope Partners and other APC members.

Kalu, who told Abia people, especially the members of the APC, to obtain their voter’s cards in the ongoing continuous voters’ registration, said the cards would be used to sack the ruling Abia government in Abia by 2027.

“We are not going to take over this State by force. Some people when we talk, they say we want to use Federal government power, no!

“We are going to use the votes of the masses”, said Kalu.

He accused the the Labour Party, LP-led administration in Abia State of underperformance, saying that two former governors, Theodore Orji and Okezie Ikpeazu achieved better results with about 3 and 4 billion Naira they received as monthly FAAC allocations, when compared to the bigger allocations the State is receiving presently.

He said that Abia people are prepared to re-elect President Bola Tinubu in 2027 based on his various achievements and for money he is making available to Abia and other State governors.

The Deputy Speaker disclosed that some persons in Abia are hauling insults at him for recently telling the truth to the Abia State government, but vowed to sustain his role as “the leader of the opposition in the State.”

Dan Poster by — October 6, 2025 in Politics 0