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Atiku Demands Immediate Listing Of NNPCL On Stock Exchange

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Atiku Abubakar, former vice-president, has asked the federal government to immediately list the Nigerian National Petroleum Corporation (NNPC) Limited on the stock exchange in line with the Petroleum Industry Act (PIA).

Atiku spoke in a statement on Sunday while reacting to the decision of the NNPC to hand over the Warri and Kaduna refineries to private operators who are expected to manage and operate them.

On August 30, NNPC announced that it is seeking to engage reputable and credible operations and maintenance (O&M) companies to operate and maintain the Warri Refining and Petrochemical Company (WRPC) and the Kaduna Refining and Petrochemical Company (KRPC).

Atiku, in the statement, said listing the oil company will ensure profitability and development in the country.

“The NNPCL is supposed to have been listed on the stock exchange in line with the Petroleum Industry Act. This would make the company more profitable and enhance transparency and corporate governance,” he said.

“Currently, the NNPCL claims to be private, but this is only a ruse to fool the feeble-minded because it remains the ATM of the federal government. Anything short of listing the NNPCL on the stock exchange is nothing but a cosmetic development.”

Atiku said the oil company continues to provide a “cover of political protection to the Tinubu government’s policy inconsistency on the payment of subsidy, raising questions about the independence that the PIA requires of the NNPC Limited as a private business concern”.

The politician also said previous arrangements and concessions had not worked because of a lack of transparency in the contract award processes as well as the failure of the government to attract investors.

‘INVOLVE BPE, TECHNICAL PARTNERS’

The former vice-president said for such a deal to succeed, “the Bureau of Public Enterprise (BPE) and a credible technical partner like Standard and Poor’s (S&P) must be part of the process”.

“Former President Olusegun Obasanjo revealed recently that even Shell, one of the world’s wealthiest oil companies, rejected the offer to operate Nigeria’s refineries,” he added.

“This is because the NNPCL has, for years, been a cesspool of endemic corruption.

“This is why over $20bn that has been spent on the refineries in the last 20 years has led to nowhere.

“It is also curious that a government that is still paying petrol subsidy is trying to make its refineries profitable. Which businessman will invest in a refinery that has been programmed to operate at a loss?

“The manage and operate approach has not always worked. The Manitoba Hydro International, which was handed the Transmission Company of Nigeria, led nowhere.

“Similarly, Global Steel Limited, which was handed the Ajaokuta Steel Company, was not able to make the facility profitable.

“The contract was questionably revoked by the Umaru Musa Yar’Adua administration, and Nigeria ended up paying Global Steel a compensation of nearly $500m while Ajaokuta remains comatose 17 years later.”

Atiku advised the NNPC not to make the contract process opaque “like it did with OVH last year”.

He said the OVH deal was dubious and has failed to boost the company’s petrol sufficiency as evidenced by the months-long fuel scarcity.

“In 2022, Nueoil, an unknown and newly registered company, acquired OVH and Oando filling stations. Barely four months later, NNPCL Retail bought Nueoil and took control of all its assets, including the Oando filling stations,” Atiku added.

“Barely eight months later, OVH turned around to take over NNPCL Retail. This convoluted transaction was done to hide the corruption involved.”

Atiku said if the company chooses this approach in handing over its refineries to private hands, then “Nigerians should not expect any positive development whatsoever”.

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Couple Kidnapped, One Shot In Ondo Estate Attack

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Gunmen suspected to be kidnappers have abducted a couple from their residence in the Iluabo area of Akure North Local Government, Ondo State.

During the attack, which occurred in the early hours of Saturday, February 21, 2026, the assailants shot one person before seizing the victims.

The gunmen had stormed Olaribigba Estate in the community when they whisked Mr Jamiu Olawale and his wife into the bush.

Following the development, which has created tension in the agrarian community, residents protested and barricaded the road leading to the community over the incessant kidnappings and insecurity in the community.

According to sources, the couple had arrived at their residence in an ash-coloured Toyota Camry when they were attacked by the gunmen, who lay in ambush for them.

During the incident, a neighbour of the abducted couple, Patrick Ilumaro, who was seated in front of his residence, was shot by the gunmen while fleeing from the community.

A neighbour of the victims revealed that Ilumaro was swiftly rushed to an undisclosed medical facility where he is currently receiving medical treatment.

While confirming the incident, the Ondo State Police Command disclosed that tactical teams as well as conventional operatives have been deployed to the community.

In a statement issued by the Police Public Relations Officer, Abayomi Jimoh, the operatives are already combing the axis in an effort to rescue the victims and apprehend the perpetrators.

“Concerted efforts are ongoing to ensure the safe return of the abducted persons and bring those responsible to justice.

“Members of the public are urged to remain calm and go about their lawful activities. Meanwhile, the Command urges them to provide credible and actionable information that may assist in the investigation to the nearest police station.”

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Court Sets Feb 25 For El-Rufai’s Arraignment In DSS Cybercrime Case

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The Department of State Services (DSS) will arraign former Governnor of Kaduna state, Nasir El-Rufai, on February 25 over alleged cybercrime and breach of national security.

Justice Joyce Abdulmalik of the Federal High Court has fixed the date for the arraignment of the former Governor on a three-count criminal charge filed by the Department of State Services (DSS) after the Chief Judge, Justice John Tsoho assigned the case to her.

NAN earlier reported that the DSS, on Monday, filed a three-count criminal charge against El-Rufai following his alleged involvement in wiretapping the telephone lines of the National Security Adviser (NSA), Mallam Nuhu Ribadu.

The charge, instituted by the Nigerian secret police, is marked FHC/ABJ/CR/99/2026.

The service accused El-Rufai of breaching the Cybercrimes Prohibition Act (2024) and the Nigerian Communications Act (2003.)

In court, El-Rufai was alleged to have, on Feb. 13, while appearing as a guest on Arise TV station’s Prime Time Programme in Abuja, admitted during the interview that he and his cohorts unlawfully intercepted the phone communications of the NSA, Mr Ribadu.

The offence is said to be contrary to and punishable under Section 12(1) of the Cybercrimes (Prohibition, Prevention, etc.) Amendment Act, 2024.

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Maureen Badejo To Appear Before Federal High Court Tomorrow On Defamation, Cybercrime Charges

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Maureen Omorinola Badejo is scheduled to appear before the Federal High Court sitting in Ikoyi, Lagos, on February 20, 2026, following charges filed by the Inspector-General of Police over allegations bordering on defamation, cyberstalking, and related offences.

 

 

The charges arise from online publications made in November 2021, in which Ms. Badejo allegedly transmitted statements and videos on YouTube and Facebook concerning Apostle Johnson Suleman and his associate Dickson Omodiale Osajie.

 

 

According to the charge sheet, the prosecution alleges that:

 

Ms. Badejo conspired with others to publish defamatory content against Apostle Suleman.

 

She allegedly portrayed him as a cultist, rapist, assassin, ritualist, and other criminal labels, knowing the claims to be false.

 

She is accused of sending false messages via computer networks intended to cause annoyance, hatred, intimidation, and injury to reputation.

 

Additional allegations state that defamatory statements were also made against Mr. Dickson Osajie, claiming involvement in crimes such as rape and ritual killing.

 

Authorities further allege that the publications caused fear for safety and threatened bodily harm to the complainants.

The offences cited fall under provisions of the Criminal Code Act (Cap C38, Laws of the Federation of Nigeria, 2004) and the Cybercrimes (Prohibition, Prevention, etc.) Act, 2015.

 

The case follows a formal petition submitted to the Nigeria Police Force by Mr. Osajie, who alleged persistent cyberstalking, harassment, invasion of privacy, threats to life, and dissemination of false information affecting himself, Apostle Suleman, and their families.

Statement from Maureen Badejo

Ms. Badejo maintains her readiness to face the court and present her defense, expressing confidence in the Nigerian judicial system to ensure fairness and justice.

 

 

“I will appear in court as required and trust that the truth will prevail through due legal process,” she stated.

 

 

However Ms. Badejo is expected to be formally arraigned before the Federal High Court in Ikoyi, where the charges will be read and she will enter her plea.

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