News
Subsidy: FG May Spend N236bn Monthly On Imported, Dangote Petrol
The Federal Government could spend up to N236billion monthly, in order to subsidise the Premium Motor Spirit (PMS), popularly called petrol, that is imported through the Nigerian National Petroleum Company (NNPC) and the one that NNPC takes from the Dangote Petroleum Refinery.
On Monday, the President of Dangote Group, Alhaji Aliko Dangote, urged the Federal Government to end fuel subsidies completely.
He said the removal would help determine the actual petrol consumption in the country, as his position received backing from the Independent Petroleum Marketers Association of Nigeria and the Centre for Promotion of Public Enterprise on Tuesday.
This came as it was gathered that members of the Major Energies Marketers Association of Nigeria had lifted over 50 million litres of PMS from the Dangote refinery in the past week.
Based on the revelations by major oil marketers on the cost of Dangote petrol sold to them by NNPC, the price at which NNPC got the product from Dangote, it was established that the product was being subsidised by the government through the national oil firm.
Major oil marketers stated that the product was sold to them by NNPC at N766/litre, whereas NNPC had earlier said that it got the commodity at N898/litre from the Dangote refinery.
This implies that the company subsidised the commodity by N132/litre to the marketers.
Dangote commenced the release of PMS into the domestic market on September 15, 2024, and stated that it would be pumping out 25 million litres of petrol to the Nigerian market daily.
This means that the NNPC is shouldering a subsidy of about N3.3bn daily, while in 30 days it may spend N99bn to subsidise Dangote petrol to marketers.
For imported petrol, though there are various figures on the actual volume of PMS consumed in Nigeria, the most recent figure released by the Nigerian Midstream and Downstream Petroleum Regulatory Authority put the figure at about 45.7 million litres daily.
This means that should the Dangote refinery provide 25 million litres daily, the volume of imported petrol required to meet the domestic demand would be about 20.7 million litres.
In July this year, the Major Energies Marketers Association of Nigeria revealed that the landing cost of imported PMS was N1,117/litre. The landing cost is simply the price at which the commodity lands on Nigeria’s shores.
Dealers in the sector stated on Tuesday that the landing cost of the commodity was still around the figure reported in July.
Independent marketers revealed that NNPC now sells petrol to IPMAN members at N895/litre.
News
APC Confirms Active Engagement With Wike To Resolve Rivers Crisis
The ruling All Progressives Congress (APC) has confirmed it is actively engaging with Nyesom Wike, the Minister of the Federal Capital Territory (FCT), to resolve the persistent political crisis in Rivers State.
The party’s National Secretary, Senator Ajibola Basiru, disclosed this on Thursday during an appearance on TVC’s ‘Beyond The Headlines’ show, noting that despite Wike not being a registered member of the APC, his influence and alignment with President Bola Tinubu make his involvement crucial.
“Of course, as you know, Wike is an avowed supporter of President Bola Ahmed Tinubu, even though not a member of the political party,” Basiru said. “So, as somebody who is interested in the success of President Bola Ahmed Tinubu, Rivers State is critical to that success, and of course, definitely he will be engaged, and he’s been engaged on an amicable resolution in the state as expected.”
Basiru explained that the party was pursuing quiet consultations to restore stability to the state, emphasising that not all actions being taken would be made public.
“Quiet consultations are ongoing to address the situation,” he added. “Not every measure being taken will be made public through the media.”
He assured that the Rivers crisis would be settled amicably “without winners or losers,” and hinted that further details would be made public in the coming days.
JomogNews reports that the Rivers political crisis deepened after Governor Siminalayi Fubara officially defected from the Peoples Democratic Party (PDP) to the ruling APC on December 9, 2025. The defection followed months of tension between Fubara and Wike, a former Rivers State governor, over control of the state’s political structure.
Fubara’s switch, which many analysts saw as a major realignment ahead of the 2027 general election, came after several members of the Rivers State House of Assembly had already joined the APC.
In response, Wike publicly criticised Fubara, accusing him of violating previous agreements and questioning his political future.
The FCT Minister argued that Fubara lacked genuine support within the APC, claiming the governor was “being misadvised” and had slim chances of securing a second term in 2027 elections.
Despite the governor’s defection, tensions persisted within the APC-controlled House of Assembly, which on January 8 initiated impeachment proceedings against Fubara, a move widely believed to have been influenced by Wike’s loyalists. The impeachment process, however, has been stalled by ongoing court cases.
Addressing claims that the APC was dominated by political elites, Basiru dismissed the notion, insisting that the ruling party remains a “mass-based organization.”
“The APC is a very serious political party. We are a mass-based organization, and going by the figures from our mass-based e-registration system, we are sure that APC is the party to beat in all elections,” he said.
“We are loved by the Nigerian people, and they are trooping out to join the APC. We have made tremendous progress in the registration of new members that we have embarked upon. We are very comfortable that we are not an elite organization.”
Basiru added that the APC remained focused on strengthening its grassroots structures and mobilising Nigerians under its socio-democratic ideals.
“Our tradition is socio-democratic, pro-people, and we are working to strengthen our party. We are mobilizing, conscientizing, and showing Nigerians why the pan-Nigerian political party, the APC, is the party to be in,” he said.
“We are resilient and persistent in ensuring that we pass our message and get people to join our political party. As I speak now, the mass of Nigerian people are joining our party in large numbers.”
News
Kano: APC Deputy Gov Candidate, Murtala Garo Welcomes Governor Yusuf To Party
The All Progressives Congress (APC) deputy governorship candidate in the 2023 election, Murtala Garo, has welcomed Kano State Governor Abba Kabir Yusuf to the party.
Garo described the governor’s defection as a positive development for political stability and sustainable growth in the state.
Garo, who is also a former Commissioner for Local Government and Chieftaincy Affairs, said in a statement on Tuesday that Yusuf’s decision demonstrated political maturity and foresight at a time when Kano and Nigeria require unity and inclusive governance.
“I formally welcome His Excellency, the Executive Governor of Kano State, Alhaji Abba Kabir Yusuf, into the All Progressives Congress. This is a significant and commendable step in our collective quest for political stability, inclusive governance and sustainable development in Kano State,” Garo said.
He praised Yusuf’s leadership, noting that his calm disposition and commitment to public welfare distinguish him as a leader willing to place peace and progress above partisan considerations.
“By this decisive action, His Excellency has shown the ability to rise above partisan divides in the interest of peace, progress and unity,” Garo added.
Garo said the governor’s move also reflected an understanding of the political and economic challenges facing Kano State and the country.
He expressed confidence that Yusuf’s entry into the APC would strengthen the party’s reform agenda and enhance cooperation between the state and federal governments.
He also reaffirmed his loyalty to the APC and pledged to work with the governor and other stakeholders to promote good governance, political harmony and policies that benefit the people of Kano.
News
Boardroom Guru, Otunba Adekunle Ojora, Dies At 93
Otunba Adekunle Ojora, a legendary figure in Nigeria’s corporate world and a prominent Lagos traditional leader, has passed away at the age of 93.
According to an official family statement signed by his daughter, Toyin Ojora-Saraki, he died peacefully at his home in Ikoyi, Lagos.
Widely celebrated as one of Nigeria’s most influential corporate leaders of the post-independence era, Otunba Adekunle Ojora carved an exceptional legacy that spanned journalism, public service, politics, and big-ticket corporate governance. He was Chairman of the Board of AGIP Nigeria Limited from 1971 until its acquisition by Unipetrol in 2002.
Ojora’s professional journey began in the early 1950s at the British Broadcasting Corporation (BBC) after studying journalism at Regent Street Polytechnic, London. Rising to the position of assistant editor, he later returned to Nigeria in 1955 to join the Nigerian Broadcasting Corporation (NBC) as a reporter. He later moved to Ibadan, where he served as an information officer in the office of the then regional premier.
In 1961, he transitioned into the corporate world, joining the United African Company (UAC) as Public Relations Manager and becoming an Executive Director in 1962. His interest in commerce and enterprise deepened in the years that followed, marking the start of a lifelong influence in Nigerian boardrooms.
Following the military coup that ended the First Republic, Otunba Ojora was nominated to the Lagos City Council in 1966. In 1967, he held two key appointments: Managing Director of WEMABOD, a regional property and investment company, and Chairman of the Nigerian National Shipping Line, succeeding Chief Kola Balogun.
After leaving WEMABOD, he expanded his footprint as a major investor and entrepreneur. He held significant interests in AGIP Petroleum Marketing, NCR Nigeria, and founded several private firms, including Nigerlink Industries, Unital Builders, and Lagos Investments, a holding company. In the wake of the Nigerian Enterprise Promotion Act, he acquired equity stakes in numerous foreign companies operating in Nigeria, including Bowring Group, Inchcape, Schlumberger, Phoenix Assurance, UTC Nigeria, Evans Brothers, and Seven-Up.
Beyond the boardroom, Otunba Ojora was deeply rooted in tradition. He was the Otunba of Lagos, Lisa of Ife and Olori Omo Oba of Lagos.
He is survived by his wife, Erelu Ojuolape, and children, including, Mrs. Toyin Saraki, wife of former Senate President Bukola Saraki.
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