All Posts in "Dan Poster"

Customs target 48-hour cargo clearance with new reform

Nigeria Customs ServiceThe Nigeria Customs Service has officially launched its One-Stop-Shop initiative, a flagship reform aimed at slashing cargo clearance time from the long-standing average of 21 days to just 48 hours.

The initiative was introduced in Abuja during a strategic meeting between the NCS management and Customs Area Controllers, according to a statement from the NCS on Sunday. The meeting, chaired by the Comptroller-General of Customs, Adewale Adeniyi, focused on driving the service’s modernisation agenda and strengthening leadership roles in implementing reforms across commands.

Adeniyi described the OSS as a transformative step that aligns Nigeria’s customs operations with global best practices and advances the Federal Government’s Ease of Doing Business policy.

For decades, clearing goods through Nigerian ports has been riddled with delays, inefficiencies, and bureaucracy. On average, importers and exporters faced clearance times stretching up to 21 days, a situation that increased costs, discouraged investors, and hampered Nigeria’s global competitiveness.

Recognising these challenges, the Federal Government has been pushing for reforms that will modernise trade processes and align with the World Trade Organization’s Trade Facilitation Agreement, to which Nigeria is a signatory. The OSS initiative marks a significant step in this direction.

Under the new framework, all customs units will collaborate on flagged declarations, eliminating multiple checks that previously caused bottlenecks. Importantly, consignments cleared under the OSS will not be subject to re-interception, ensuring predictability and reducing costs for traders.

Adeniyi explained that the reform is designed to “sanitise operations, cut duplication of efforts, and restore confidence in customs procedures.”

“The OSS initiative will not only shorten clearance time from 21 days to 48 hours, but it will also strengthen trader confidence, restore transparency, and make our operations more business-friendly,” he said.

While highlighting the role of technology in customs processes, Adeniyi noted that digital systems alone cannot drive reform. He stressed the value of physical engagement and coordination among officers.

“As much as technology has helped us, it has its limits. There are moments when physical presence, coming together under one roof, adds weight and value to our deliberations. Meetings like this strengthen our unity of purpose and ensure we speak with one voice,” he said.

The CGC disclosed that the OSS would first be piloted at Nigeria’s busiest ports—Apapa, Tincan Island, and Onne—before being scaled up nationwide. The reform, he added, is backed by the NCS Act 2023 and fully aligned with the WTO TFA, giving it both legal and institutional support.

“This is not just a policy. It is a statement of intent that reflects our determination to build a modern, transparent, and trader-friendly customs service,” Adeniyi declared. Customs Area Controllers at the meeting pledged their full commitment to the initiative. They described the OSS as timely and necessary, saying it would reposition the service for greater efficiency and credibility in global trade facilitation.

They further assured the CGC of their readiness to implement the reform at their respective commands and to work in synergy toward achieving the 48-hour clearance target.

The Abuja meeting also provided a platform to review the Service’s accountability framework. A key feature is a new central dashboard that tracks clearance times, interventions, and stakeholder satisfaction. This tool will serve as a performance-monitoring mechanism to ensure transparency and sustained improvement.

Trade experts stated that if fully implemented, the OSS could transform Nigeria’s ports into more competitive hubs, cut business costs, and boost investor confidence. By reducing clearance times to 48 hours, Nigeria will be closer to matching international benchmarks, enhancing its ability to attract cargo traffic that often diverts to neighbouring countries.

For importers and exporters, the reform promises reduced demurrage costs, faster turnaround times, and more predictable supply chains—all critical to boosting Nigeria’s participation in regional and global trade.

Dan Poster by — September 29, 2025 in General News 0
Doctors give FG fresh ultimatum to meet demands

Nigerian Association of Resident DoctorsThe Nigerian Association of Resident Doctors has given the Federal Government a fresh 30-day ultimatum to address outstanding welfare and policy issues affecting its members, including unpaid salary arrears, promotion entitlements, and the reinstatement of sacked doctors.

The ultimatum was contained in a communiqué signed on Sunday by NARD President, Dr Mohammad Suleiman; Secretary-General, Dr Shuaibu Ibrahim; and Publicity and Social Secretary, Dr Abdulmajid Ibrahim, at the close of the association’s 45th Annual General Meeting and Scientific Conference, held in Katsina State between September 21 and 26.

The meeting, themed “Mitigating Health Worker Migration through Extra-Remuneration Incentives: A Strategy for Sustainable Development”, also marked a leadership transition, with Dr Suleiman elected as president to succeed Dr Tope Osundara.

Earlier this month, NARD embarked on a five-day warning strike, which it suspended after two days following the release of funds for the Medical Residency Training Fund and to allow the government two weeks to address other demands.

At the AGM, members expressed concern over unresolved issues undermining doctors’ welfare and the health system.

They cited excessive and unsafe call-duty hours, the stalled review of the Consolidated Medical Salary Structure for more than 16 years, persistent non-payment of corrected professional allowances, and months of unpaid promotion arrears.

The association also condemned the casualisation of doctors, the dismissal of five doctors at the Federal Teaching Hospital, Lokoja, and repeated delays in implementing the Medical Residency Training Act.

NARD decried worsening brain drain, the exclusion of house officers from the Civil Service Scheme, decaying hospital infrastructure, and failure to implement agreed pension benefits. It also rejected the creation of consultant cadres for non-medical doctors and the downgrading of postgraduate membership recognition.

Effective October 1, 2025, NARD directed its members to stop engaging in more than 24 consecutive hours of call duty, in line with international best practices.

The communiqué stated, “The AGM calls on the Federal Ministry of Health and Social Welfare to develop and implement clear, healthy call-duty working hours for doctors. In the interim, members should desist from engaging in more than 24 hours of continuous call duty.

“The AGM calls on the Federal Government to expedite action on the Collective Bargaining Agreement and complete the long-overdue review of CONMESS. The AGM demands the immediate release of corrected professional allowance tables, payment of accumulated promotion arrears within 30 days, and a one-for-one replacement policy to ease excessive workload.

“The AGM also gives the Federal Ministry of Health and the management of FTH Lokoja 30 days to reinstate the five sacked doctors. The AGM demands prompt settlement of arrears from the 25/35 per cent CONMESS review, 2024 accoutrement allowance, and other outstanding salary arrears within 30 days.”

It further urged the Medical and Dental Council of Nigeria to restore full recognition of West African postgraduate membership certificates, and called on the National Postgraduate Medical College of Nigeria to immediately issue membership certificates to eligible candidates.

The association demanded a decentralised process for promotions and training, the immediate commencement of specialist allowance payments, and inclusion of house officers in the Civil Service Scheme with prompt salary payments and payslips.

It also urged Oyo State Governor, Seyi Makinde, to urgently address the welfare of resident doctors at LAUTECH Teaching Hospital, Ogbomosho.

NARD called for the full implementation of CONMESS circulars across all federal, state, and private health institutions, including medical schools and regulatory bodies.

On policy, the AGM resolved to intensify engagement with the National Assembly to secure adequate healthcare funding in the 2026 Appropriation Act, while also demanding immediate implementation of agreed special pension benefits for doctors.

Dan Poster by — September 29, 2025 in General News 0
JAMB awaits post-UTME results of underage candidates cleared for admission

PIC.1.-JAMB-UMTE-COMPUTER-BASED-TEST-IN-ABUJA

Sixteen out of the 71 universities that received applications for admissions of underage candidates failed to meet the September 15, 2025, deadline set by the Joint Admissions and Matriculation Board for the submission of post-Unified Tertiary Matriculation Examination screening results.

JAMB had directed 71 universities that received applications from underage candidates to submit their post-UTME results early to enable speedy processing of admissions.

The Registrar of JAMB, Prof. Ishaq Oloyede, recently disclosed that out of the 41,027 underage candidates who sat for the 2025 UTME, only about 500 scaled through initial screening.

He noted that four institutions — the Air Force Institute of Technology, Kaduna; Abubakar Tafawa Balewa University, Bauchi; University of Jos; and Osun State University — formally notified JAMB that they would not admit underage candidates under any circumstances.

However, data obtained by The PUNCH showed that 40 underage candidates were affected by the delay from the 16 universities yet to submit results. These include Abia State University (one applicant), Bayelsa Medical University (one), Bingham University, Karu (three), Federal University of Technology, Ikot-Abasi (one), Federal University, Lokoja (two), Kwara State University (four), Lead City University (two), Madonna University (one), McPherson University (two), Michael Okpara University of Agriculture (one), Modibbo Adama University (one), Rhema University (one), TopFaith University (one), University of Abuja (12), and University of Calabar (six).

JAMB explained that consideration was being given only to candidates who scored at least 320 in the UTME, secured a minimum of 80 per cent in post-UTME, and obtained 80 per cent (24/30 points) in a single sitting of WAEC or NECO.

The policy shift followed complaints by parents and stakeholders that high-performing candidates were being denied admission strictly on the basis of age.

Dan Poster by — September 29, 2025 in Cover 0
Banks face pressure as CBN tightens liquidity rules

CBN-VUILDING-700×375Banks, especially those with heavy government deposit exposure, may need to find alternatives to drive private sector funds into their coffers, as the Monetary Policy Committee of the Central Bank of Nigeria introduced a 75 per cent Cash Reserve Ratio on non-Treasury Single Account deposits.

CBN Governor Olayemi Cardoso, while reading the communique at the end of the two-day meeting, said the introduction of the 75 per cent CRR on non-TSA public sector deposits was to enhance liquidity management.

Cardoso noted that despite the consistent deceleration in inflation, the MPC had observed the persistent build-up of excess liquidity in the banking system, resulting largely from fiscal releases emerging from improved revenues.

TSA balances are revenues, receipts, and payments of ministries, departments, agencies, parastatals, and other institutions of the Federal Government that are warehoused directly with the CBN, while Non-TSA deposits represent state and local government funds typically maintained with Deposit Money Banks.

Like the CBN pointed out, these balances tend to swell after Federation Account Allocation Committee distributions, injecting liquidity into the system with effects for FX stability and inflation.

Commenting on the development, analysts at Afrinvest said that non-TSA government deposits, particularly FAAC allocations to state and local governments, have historically provided a sizable pool of cheap deposits for commercial banks.

“Based on anecdotal evidence over the past three years, episodes of naira depreciation often coincided with periods immediately following FAAC disbursements into the banking system. Since state and local government shares are immediately available on banks’ balance sheets, a possible link exists between FAAC flows and exchange rate volatility. By sterilising 75.0 per cent of such balances, banks would need to double down on their effort to mobilise cheap capital from the private sector,” stated their weekly report. “Banks with heavy government deposit exposure may face near-term margin pressures.”

Speaking with The PUNCH, the Chief Executive Officer of CFG Advisory, Tilewa Adebajo, agreed that curbing excess liquidity was at the heart of the introduction of the 75 per cent CRR on non-TSA deposits.

Adebajo pointed out that for the country to move from stability to growth, the government needs to curb its spending.

He said, “One of the things that I’m happy about is that the MPC has increased the CRR for non-TSA deposits to 75 per cent. The Minister of Finance and Coordinating Minister of the Economy has now been given the powers to be able to approve spending, and working with the Central Bank, we can see how they can curb that (excess liquidity).

“If you discount food and energy inflation, which makes up core inflation, you will see the driver of core inflation has been fiscal spending, and this move, I think, is very positive because there are a lot of government deposits outside of the Treasury Single Account, and I think it is important that liquidity is mopped up to control inflation. With this mopping up, hopefully, we will put fiscal spending in check and be able to sustain the downward trend in inflation. Also, because of the high interest rate, not many people are borrowing, and that liquidity is looking for somewhere to go. With this limit, it will go back to the CBN to sustain the downward trend in inflation and to begin to hope for a high growth rate.”

He added that despite the hefty 75 per cent CRR on non-TSA deposits, banks can enjoy some relief as the CRR for commercial banks has been adjusted to 45 per cent from 50 per cent.

“They have all our deposits now at 45 per cent CRR,” he stated.

Adebajo went on to assert that until inflation gets to 12 per cent or below, Nigerians may not feel the impact of the deceleration. He stated, “The target is that we should get to 12 per cent inflation. If Nigeria is at 12 per cent inflation, our economy would grow at eight per cent or more, and that is what we need on a sustainable basis.”

CardinalStone, in their report following the MPC’s decision, said that the committee had struck a hawkish note despite cutting the benchmark rate by 50 bps to 27 per cent.

“Our estimates suggest that as of end-2024, Non-TSA balances accounted for 1.6 per cent of the broad money supply (M3) and were equivalent to 1.3x state and local governments’ FAAC receipts in December 2024. This reduces the risk that large FAAC-related inflows will drive FX demand pressures at the parallel market, as outflows are expected to be more gradual and linked to actual expenditure patterns.

“For the banking system, the impact should be a function of the treatment of the new CRR on non-TSA deposits (e.g., applied on total deposits as is the case with regular CRRs or focused only on new deposits), with the CBN expected to provide more clarity on operational dynamics,” said the experts.

Overall, the market watchers contend that the decisions of the MPC underscore a delicate balancing act of loosening just enough to support growth momentum, showing confidence in the decelerating inflation, while tightening around vulnerable liquidity channels to safeguard price and foreign exchange stability.

Dan Poster by — September 29, 2025 in Business 0
Prudential Zenith Life surpasses new capital threshold by N19.3bn

Zenith Life Insurance

Prudential Zenith Life Insurance Company Limited has revealed that it has crossed the minimum regulatory capital threshold set by the new Nigerian Insurance Industry Reform Act by N19.3bn.

In a statement made available to our correspondent, the firm stated that its National Insurance Commission-approved audited financial results for 2024 showcased exceptional financial strength.

NIIRA 2025 mandates new minimum capital requirements, including the crucial shift to a risk-based capital framework. This means insurers will now calculate their capital based on the specific risks they face, encompassing insurance, market, credit, and operational risks, moving away from a one-size-fits-all approach previously in place. For instance, the proposed new minimum for non-life insurance business rose to N25bn (or RBC as determined by NAICOM) from N10bn, life insurance to N15bn from N8bn, and reinsurance to N35bn from N20bn.

In its 2024 financial report, Prudential Zenith Life posted a 21 per cent rise in profit after tax to N7.4bn and a 29.5 per cent expansion in total assets to N82.0bn, driven by a 29.6 per cent rise in financial assets. Shareholders’ equity rose 32.2 per cent to N30.5bn (2023: N23.1bn), fuelled by a 51.8 per cent increase in retained earnings to N19.5bn

The solvency margin strengthened 28.3 per cent to N29.3bn, achieving a N19.3bn surplus over the N10bn regulatory minimum, whilst Insurance Contract Liabilities expanded 29.7 per cent, comprising 95.4 per cent of total liabilities.

Commenting on the results, the Chief Executive Officer of Prudential Zenith Life, Ms. Funmi Omo, said, “Our 2024 performance is a testament to our unwavering commitment to excellence. Achieving a 21 per cent profit increase while maintaining a capital surplus nearly double the regulatory requirement demonstrates our financial resilience and strategic foresight.

“The N19.3bn buffer from the original shareholders’ funds of N29.3bn empowers us to innovate, expand, and deliver unparalleled value to our customers and shareholders as we embark on the next phase of growth.”

Prudential Zenith Life said its robust financial health reinforces its mission to secure the future of its customers through innovative insurance solutions.

Dan Poster by — September 29, 2025 in Business 0
Nigeria can tap bonds for maritime growth – NGX

Nigerian Exchange LimitedThe Chief Executive Officer of Nigerian Exchange Limited, Mr. Jude Chiemeka, has said that the nation’s maritime industry can leverage blue bonds to raise funds from the capital market to finance infrastructure development projects in the marine and blue economy sector.

Chiemeka, who stated this recently in Lagos during the 3rd quarter citizens’ and stakeholders’ engagement of the Ministry of Marine and Blue Economy and its agencies, explained that these bonds can be raised through bond issuance programmes and listed on the Nigerian Exchange Limited.

According to him, Nigeria’s 853 km coastline and rich waterways represent multi-billion-dollar opportunities in fisheries, aquaculture, ports, shipping, offshore energy, and tourism, adding that a well-managed blue economy can significantly boost gross domestic product, create millions of jobs, and strengthen foreign exchange earnings.

“Nigeria’s Blue Economy has the potential to contribute significantly to the country’s economy. Alternative sustainable financing is the key to moving Nigeria’s marine and blue economy policy into impact.

With innovative instruments like blue bonds, blended finance, and thematic instruments, the ministry can mobilise billions in new capital,” Chiemeka said.

Nigeria’s marine and blue economy refers to the sustainable use of ocean and waterway resources for economic growth, improved livelihoods, and ecosystem health. With a coastline stretching 853 kilometres and abundant inland waterways, Nigeria is strategically positioned to benefit from a thriving maritime economy. However, despite this potential, the sector remains underdeveloped, mainly due to inadequate infrastructure, low investment, and fragmented policy implementation. Blue bonds are innovative debt instruments used to finance projects that benefit ocean ecosystems and coastal economies.

Chiemeka highlighted that the nation’s marine and blue economy sector required $10bn over the next decade to restore mangroves and wetlands, modernise ports and logistics, expand aquaculture and cold-chain facilities, and upgrade wastewater and pollution control systems.

The NGX CEO added that the current budget allocation is far below the required scale to spur development in the sector, maintaining that mobilising private and institutional capital remains essential to fully realise developmental aspirations.

He stated that NGX stands ready to partner with the ministry to “operationalise these instruments and create a financing transformation for Nigeria’s marine future.” “Together, we can move from policy to impact, financing the future of Nigeria’s marine and blue economy.”

He pointed out that the blue (or thematic) bonds reduce the project funding cost compared to bank loans, stressing that they offer an opportunity for institutional investors to participate in infrastructure projects through listed, tradable securities that can offer superior risk-adjusted returns.

“Blended finance works by using public or philanthropic funds (concessional capital) to catalyse private sector investment in projects that contribute to sustainable development but may not otherwise attract commercial funding due to high perceived risks or low returns. This approach has been implemented across various sectors, with a particular focus on infrastructure, energy, and financial services in developing countries. Suitable for capital-intensive projects such as port modernisation, wastewater treatment plants, aquaculture hubs, and cold-chain logistics for fisheries, it enables Nigerian pension funds and banks to participate in blue economy financing with reduced risk,” he explained.

Dan Poster by — September 29, 2025 in Business 0
SEC Raises Alarm Over AI-Generated Investment Scams In Nigeria

The Securities and Exchange Commission (SEC) has warned Nigerians to beware of a rising wave of artificial intelligence (AI)-driven scams that are targeting unsuspecting investors with promises of guaranteed profits and fake celebrity endorsements.
The Commission recalls that platforms such as CBEX, Silverkuun, and TOFRO were operating illegally by advertising AI-powered trading systems that promise unrealistic returns.
“These platforms are not registered or regulated by the SEC, yet they continued to mislead the public with false claims of AI-driven investments. They posed serious risks to investors hence the commission issued series of disclaimers against their activities,” the Commission stated.
The SEC explained that fraudsters are increasingly turning to deepfake videos and AI-generated content to lure victims, pointing that manipulated videos featuring politicians, celebrities, and TV hosts are being shared through Facebook ads, Instagram reels, and Telegram groups to give fraudulent platforms an air of credibility.
According to the Commission, “Scammers are exploiting AI to fabricate endorsements and testimonials that appear genuine. This has made traditional fraud detection methods less effective, hence the need for tech-enabled regulation and greater public awareness.”
To counter the growing threat, the SEC explained that it is adopting advanced surveillance systems capable of detecting fraudulent activity in real time, adding that partnerships with the Central Bank of Nigeria (CBN) and the Nigerian Financial Intelligence Unit (NFIU) are being strengthened to enable data-sharing and joint enforcement actions.
“We are moving from reactive to predictive oversight. This is essential in combating fraud and systemic risks in our market,” the Commission emphasized.
The regulator said it has also engaged social media companies to clamp down on misleading ads and cautioned influencers against promoting unlicensed investment schemes.
“Any influencer or blogger found to be complicit in promoting illegal platforms will face regulatory sanctions or even prosecution,” SEC warned.
The Commission urged Nigerians to take extra precautions before investing, stressing that any scheme promising daily profits, zero risk, or celebrity-backed endorsements should be treated with suspicion.
It stated: “Any investment that guarantees unrealistic returns or uses manipulated videos of public figures should immediately raise a red flag”.
The Commission further encouraged Nigerians to verify the registration status of any investment platform on its website, where a list of licensed Capital Market Operators is available.
It added that investors should confirm that registration numbers displayed on company websites match the details on the SEC portal and avoid platforms that only operate through Telegram or WhatsApp without a verifiable office address.
Suspicious platforms or fraudulent ads can be reported directly to the SEC via email at sec@sec.gov.ng, by phone at +234 9 462 1168, or through its online complaints portal.
Dan Poster by — September 29, 2025 in Business 0
Dangote Refinery Accuses PENGASSAN Of Economic Sabotage

.. Directive Threatens Fuel Availability, Government  Revenue

Dangote Petroleum Refinery has accused the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) of attempting to sabotage the country’s energy supply chain following a directive issued by the union to its branches to cut off crude oil and gas supplies to the refinery.

 

In a statement issued on Saturday, the company described the directive as “a brazen display of lawlessness and criminality,” warning that the move could plunge Nigeria back into widespread fuel scarcity and disrupt the availability of key petroleum products, including petrol, aviation fuel, kerosene, diesel, and cooking gas.

 

According to Dangote Refinery, PENGASSAN on 26 September instructed its members in various multinational oil companies and subsidiaries including TotalEnergies, Seplat, Renaissance, Chevron, Oando, Shell Nigeria Gas, and NGIC to halt crude oil loading operations and cut off gas supply to the facility “with immediate effect.”

 

The refinery stressed that the union has no legal authority to interfere with contracts signed between the refinery and its suppliers, insisting that such interference amounts to “economic sabotage” against both the company and the Nigerian state.

 

“This is a brazen, albeit shocking display of lawlessness and criminality by PENGASSAN. Absolutely no law gives PENGASSAN the right to direct its branches to “cut off” gas and crude oil supplies to Dangote Refinery or at all. There is also no law in our statute books that would support or enable the PENGASSAN branches having to “cut off” gas and crude oil supplies to Dangote Refinery or at all,” the statement read.  “Besides, it constitutes a criminal conduct for PENGASSAN or its members to disrupt and/or interfere howsoever in the contract between Dangote Refinery and its various vendors for the supply of gas and crude oil to the Refinery. Those supply contracts were not entered into with PENGASSAN; they were entered into by Dangote Refinery with third party vendors and suppliers and PENGASSAN has no right whatsoever to disrupt and/or interfere with the performance of those contracts”.

It noted that PENGASSAN needs to be reminded that Nigeria is a country governed by laws.

 

“Our laws do not brook self-help and mob action that could introduce mayhem and chaos and easily translate into anarchy,” it added.

 

Dangote Petroleum Refinery, world’s largest single-train refinery and one of Nigeria’s highest taxpayers, argued that the directive undermines investor confidence and threatens revenues accruing to federal and state governments. The company also described the refinery as a strategic national asset that should be safeguarded rather than targeted.

“We are, by this write-up, drawing the attention of the Federal Government and its security and law enforcement agencies – as well as all other levels of governments in Nigeria – to this criminal, lawless, reckless and irresponsible conduct of PENGASSAN and calling on them – the Federal Government and its agencies, in particular – to call the Association to order. PENGASSAN has no right to introduce anarchy and mayhem into our society. The Association is not above the law, and it must not be allowed to believe that it is or behave as if it is,” it said

 

The statement further criticised the union for what it called “a contradictory stance,” noting that while PENGASSAN had earlier pledged to pursue legal action against the refinery, it “abandoned the path of lawfulness and embraced mob action.”

 

The refinery noted that apart from the lawlessness and criminality inherent in the PENGASSAN’s instruction to its branches, the Association’s directive amounts to economic sabotage at multiple levels.

 

“In plain language, PENGASSAN has directed its branches to disrupt and stop the supply of petroleum products from the Dangote Refinery to Nigerians. The products that would be disrupted and stopped include but are not limited to aviation fuel, petrol, kerosene, diesel and cooking gas – all products that are used and required by all stripes of Nigerians and persons living in Nigeria, whether high and mighty or lowly and ordinary. In what circumstance would it be justified for PENGASSAN to so disrupt and introduce insufferable hardship into the living conditions of Nigerians? None that we can see. The follow up question is, in whose interest and on whose behalf is PENGASSAN directing and intending to inflict such anarchic and criminal disruption upon the Nigerian society and persons living in Nigeria? Most certainly, not in the interest of the Nigerian State and/or the Nigerian public and citizens,” it added.

 

It stressed that it is also economic sabotage against the Nigerian State at multiple levels as the Dangote Refinery is the only refinery of its type in Africa and ordinarily should be the pride of all Nigerians as well as the governments of Nigeria.

 

“It should ordinarily have special protection and status and indeed qualifies as a strategic national asset. An irreparable injury to the Dangote Refinery such as PENGASSAN has directed constitutes a national embarrassment to all of us. The directive is a disincentive to external investors who ordinarily would have been encouraged by the success of Dangote Refinery to contemplate investing in Nigeria’s oil and gas sector or generally. PENGASSAN may also not be aware that Dangote Refinery is one of the largest contributors to the revenue purse of the Nigerian governments – both Federal and sub-nationals. That contribution is currently threatened by PENGASSAN and would of course be paused if and as soon as and for as long as the PENGASSAN directive is implemented by its branches,” it added.

 

Calling on the federal government and security agencies to intervene, the company urged Nigerians to resist any attempt to disrupt refinery operations, warning that compliance with the directive would cause “irreparable hardship” for households and businesses nationwide.

 

“We are also calling on all Nigerians to take note of the unquantifiable and irredeemable hardship which PENGASSAN wishes to inflict on all of us. There is no Nigerian household that does not use or need the petroleum products which PENGASSAN has now directed its branches, by fiat, to withdraw from the Nigerian market – again, we list some of them: petrol, cooking gas, diesel, kerosene and aviation fuel. The production and supply of these products by Dangote Refinery would cease if the PENGASSAN cabal is allowed or permitted to enforce its lawless and criminal “directive”. The Association must not be allowed to ride roughshod on Nigerians. The repercussions from the PENGASSAN directive would affect and inflict harm on all Nigerians This is therefore a fight for all Nigerians,” noted the statement.

Dan Poster by — September 29, 2025 in Business 0
2027: Why North-west support for Tinubu is expected – Olawale

A public affairs analyst, Olaniyi Olawale, has explained why it is expected for the North-West region of Nigeria to rally behind President Bola Ahmed Tinubu ahead of the 2027 general election.

He said president Tinubu has done several landmark projects in the region as justification for the support, citing the almost completion of the Abuja-Kaduna-Zaria-Kano roads, the Kano-Maiduguri and other project executions.

Olawale, who doubled as the coordinator of the Progressive Foundation Movement (PFM), said Kano stakeholders, led by the former chairman of the All Progressives Congress, Abdullahi Ganduje, the lawmaker representing Bichi Federal Constituency and the chairman of the House Committee on Appropriation, Abubakar Bichi, and other political heavyweights, rallied support for Tinubu because of his administration’s developmental interest on the region.

“The Abuja-Kaduna-Zaria-Kano road is almost completed. Kano-Maiduguri sections 1, 2, 3, and 4 are almost completed. The Kano-Katsina project is almost completed.

“And in the next one to two months, Mr President will come to Kano to lay the foundation for the Light Rail project in Kano State.

“That project will cost more than one billion US dollars and, of course, is going to be one of the most important projects in Northern Nigeria,” he said.

Dan Poster by — September 27, 2025 in Politics 0
2027: Why ADC needs people to formalise membership quickly – Party chieftain, Salihu

A chieftain of the African Democratic Congress, ADC, Dr Ladan Salihu, has explained why the party needs people in its fold to formalise their membership.

Featuring on ‘Prime Time’, a programme on Arise Television on Friday, Salihu noted that the ADC does not have time to waste.

He also said that the order was not directed solely at the presidential candidate of the Labour Party in the 2023 general elections, Peter Obi.

“The ADC is saying that when you look at the political calendar from now to the time of campaign and elections in 2027, we really don’t have time to waste.

“So, this is not particularly directed to Peter Obi but all chieftains and members of other political parties who would like to join the fold to come in and understand the importance of our party.

“We don’t need to be complacent. We simply need to put our hands on the plough to give the party a direction so that we can go out there and face Nigerians and convince them that we are actually not the party that would only give them change but the party that would give them the change they deserve,” Salihu said.

Dan Poster by — September 27, 2025 in Politics 0