Boost for domestic supply as $700m OB3 pipeline sells first commercial gas

Seplat’s financial report also showed the ANOH gas plant, operated through ANOH Gas Processing Company (AGPC), averaged 164 million standard cubic feet a day of gross output in the third quarter, with a running nameplate capacity at 70 percent to 80 percent.

BusinessDay’s findings showed most of the processed gas went to Nigeria LNG (NLNG) and Indorama.

Both are large industrial buyers, which points to demand from export-oriented and fertiliser-related users. OB3 adds a further outlet for the remaining volumes.

Alongside gas, the ANOH plant has started shipping condensate, a light liquid hydrocarbon produced with natural gas. After condensate exports began through the Trans Niger Pipeline (TNP) to the Bonny Terminal, AGPC completed its first lifting of 641,000 barrels on July 14.

A second lifting of 551,000 barrels followed at the end of August. A third, larger cargo of 1.19 million barrels is planned for early in the fourth quarter. Cargoes are therefore getting bigger and arriving at a steady pace.

Smaller condensate volumes continue to be loaded directly from the plant for the domestic market. That gives local buyers a supply route that does not depend on the pipeline.

ANOH has reserved production capacity of 12,500 barrels a day in the TNP, Seplat said, and a further roughly 1,000 barrels a day of contracted offtake directly at the plant’s fence.

The company also reported that ANOH Gas Processing Company made its first principal repayments on its debt facilities during the quarter, paying lenders a total of $68 million.

Market challenges remain

Even with OB3 online, Nigeria’s gas market faces structural problems that the pipeline alone won’t fix.

Analysts and operators have long pointed to challenges surrounding the country’s domestic gas market as prices are regulated or negotiated well below what exporters can earn on international markets.

That can discourage producers from directing molecules to local buyers and weakens the economics of the infrastructure built to serve them.

Power generators, the largest domestic gas consumers, have repeatedly accumulated arrears to gas suppliers. Late or partial payment strains producers’ cash flow and makes new investment harder to justify.

Gas can only be sold where pipes reach. Processing capacity has outpaced the transmission and distribution network in parts of the country, leaving supply stranded or underused until new links come online. OB3’s start is a step toward closing that gap, but it is one pipeline in a system that needs more.

Why it matters

Nigeria holds some of Africa’s largest gas reserves, yet supply to domestic power generators and industry has long been constrained by limited processing and transport infrastructure.

New processing capacity paired with a new pipeline outlet addresses both problems at once.

Seplat’s report showed the project moving from construction toward routine operations. Gas is flowing to industrial buyers, condensate cargoes are growing, and lenders are being repaid.

Several questions remain open: how quickly the plant can move beyond 80 percent of nameplate capacity, how much more gas OB3 can take, and whether buyers will contract additional volumes.

The next test is the larger condensate lifting planned for early in the fourth quarter. It will show whether export logistics can keep pace with rising plant output.

CAF Awards: Super Falcons, Uzoma, Akekoromowei, Adegbuyi make shortlist

Nigeria will have a strong presence at the 2026 Confederation of African Football (CAF) Women’s Awards, with the Super Falcons, Edo Queens goalkeeper Christiana Uzoma, and young internationals Seimeyeha Janet Akekoromowei and Oluwakemi Adegbuyi making the nomination lists.

The Super Falcons have been shortlisted for the CAF Women’s National Team of the Year award, while Akekoromowei and Adegbuyi are among the 10 nominees for the Women’s Young Player of the Year prize.

Uzoma, meanwhile, has earned a nomination for the CAF Women’s Goalkeeper of the Year award following her performances for Edo Queens.

Akekoromowei, who represents the Super Falcons, and Flamingos forward Adegbuyi are recognised in the young player category alongside emerging talents from across the continent.

Adegbuyi’s nomination follows her contribution to Nigeria’s U-17 women’s team, which reached the semi-finals of the 2026 FIFA U-17 Women’s World Cup in Morocco. Her performances at the tournament have strengthened her profile as one of Nigeria’s promising young players.

The Super Falcons will compete for the Women’s National Team of the Year award against Algeria, Cameroon, Cape Verde, Ivory Coast, Ghana, Malawi, Mali, Morocco and South Africa.

Uzoma faces stiff competition from Chloe N’Gazi, Michaely Bihina, Cynthia Konlan, Mercy Sikelo, Fatoumata Karantao, Khadija Er-Rmichi, Adji Ndiaye, Kaylin Swart and Hazel Nali for the goalkeeper award.

The 2026 CAF Awards ceremony is scheduled for Monday, December 7, at the Wole Soyinka Centre in Lagos, Nigeria, where the continent’s outstanding players, teams and football administrators will be recognised.

Globe Residence to host exclusive event on European residency opportunities in Manila

Globe Residence will host exclusive private events and appointments from 2nd November 2026 onwards, inviting guests to explore European residency and investment opportunities in Greece, Portugal and Italy.

Under the theme ‘The World Is Global. Should Your Residency Be? the event will highlight how European residency pathways can offer greater global mobility, investment diversification and flexibility for individuals and families planning their future. Participants will gain insights into available residency options, how Schengen access can assist both business and personal considerations by establishing a European connection.

‘Global mobility is about having options and making informed decisions for the future. We aim to help individuals and families understand the opportunities available and identify pathways that align with their personal and investment goals. Our advisers personally hold the residencies they recommend, offering first-hand experience and practical insight. We guide you through a journey we have taken ourselves,’ Jaime Gooi, Director of Globe Residence Phils. Inc.

There will be a private event for our selected readers (seats are by rsvp only to +639989953457 or email to info@globe-residence.com ) to discover European residency opportunities and engage with the Globe Residence team.

15 Islamiyya students abducted in Niger community

No fewer than 15 students of an Islamiyya school in Mai-Kujeri village, located between Kagara and Pandogari in Rafi Local Government Area of Niger State, have been abducted by gunmen.

The incident reportedly occurred at about 11 a.m. on Saturday when the students, who had gone to their Malam’s farm to harvest maize, received a warning from a Good Samaritan about the movement of suspected bandits towards their village.

Fearing a possible attack, the students reportedly rushed towards the village. However, as they approached the community, they sighted the armed men and fled in different directions into the bush.

Unfortunately, 15 of the students were reportedly intercepted and abducted by the gunmen, who took them to an unknown destination. Their whereabouts remained unknown at the time of filing this report.

It was also gathered that the Rafi Local Government Chairman was indisposed, while the Vice-Chairperson was away in Saudi Arabia to perform the lesser Hajj (Umrah) when the incident occurred.

A reliable source disclosed that the acting chairman of the local government, alongside the Divisional Police Officer (DPO) in the area, had visited the Islamiyya schoolteacher in Mai-Kujeri, who reportedly confirmed that 15 of his students were in the custody of the abductors.

The clarification has dismissed earlier reports claiming that 50 Islamiyya students were kidnapped in the incident.

However, neither the security agencies nor the Niger State Government had issued an official statement on the abduction as of the time of filing this report.

Meanwhile, the Niger State chapter of the Social Democratic Party (SDP) has condemned Governor Umaru Bago over what it described as his failure to adequately address the worsening security situation in the state.

The opposition party accused the governor of being more concerned about his re-election bid in 2027 than the safety of residents.

In a statement issued by Jonathan Vatsa, the spokesperson for the party’s governorship candidate, he said the governor had failed to protect the lives and property of the people whose mandate he would be seeking in the 2027 general election.

Vatsa alleged that attacks on rural communities had become frequent, with armed men reportedly abducting and killing innocent residents.

He lamented that communities across the state continued to face security threats, urging the state government to prioritise the protection of lives and property rather than political considerations.

?EFCC’s tracking of FAAC funds exposes state assemblies’ weak oversight

President Bola Tinubu’s approval for the Economic and Financial Crimes Commission (EFCC) to monitor Federation Account Allocation Committee (FAAC) allocations to states and local governments has brought renewed attention to concerns over the weakening oversight capacity of state Houses of Assembly.

Governance experts who spoke to BusinessDay said the presidential directive highlights longstanding weaknesses in legislative accountability at the state level, warning, however, that the EFCC’s intervention must not displace the constitutional responsibilities of existing oversight institutions.

They argued that state legislatures and auditors-general should ordinarily provide the first line of accountability by scrutinising government expenditure, ensuring that public funds are used for approved purposes and holding governors accountable.

A top source within the commission confirmed to BusinessDay that monitoring of FAAC allocations had commenced.

‘The process of monitoring FAAC has begun,’ the source told BusinessDay.

The source, however, declined to provide further details about the exercise.

The development follows President Tinubu’s approval of the EFCC’s involvement in tracking the utilisation of allocations to the 36 states and 774 local government areas as the Federal Government seeks to strengthen accountability in public financial management.

The scale of resources flowing to subnational governments has increased significantly. Between 2023 and 2025, states received approximately N19.64 trillion from FAAC, while local governments received about N11.73 trillion, bringing their combined allocations to N31.37 trillion, according to available figures.

State allocations rose from N4.18 trillion in 2023 to N6.53 trillion in 2024 and N8.93 trillion in 2025, while local government receipts increased from N2.60 trillion to N3.77 trillion and N5.35 trillion over the same period.

Between January and September 2026, states received approximately N7.01 trillion, while local governments received N4.92 trillion, bringing their combined allocations to N11.93 trillion. Oil-producing states received an additional N1.53 trillion in 13 percent derivation revenue, according to an analysis of FAAC disbursement data by Agora Policy.

The rising allocations have intensified questions about the efficiency of public spending at the subnational level, particularly as increased revenue has not been matched by corresponding improvements in public services and living conditions in many communities.

Despite the additional resources, Nigerians continue to contend with inadequate infrastructure, poor healthcare and education facilities, unemployment and insecurity.

Vahyala Kwaga, Country Director of BudgIT, said the federal government’s involvement in monitoring state expenditure must be guided by federalism and the constitutional separation of powers.

He noted that FAAC allocation information was already publicly disclosed, arguing that the primary responsibility for ensuring accountability in state finances rested with institutions constitutionally empowered to oversee state governments, particularly Houses of Assembly.

Kwaga said state legislatures were expected to scrutinise government expenditure, ensure allocations were used in accordance with approved budgets and provide checks and balances on the executive.

However, he expressed concern that state legislatures had been considerably weakened since 1999, limiting their ability to exercise independent oversight over governors.

‘The entity responsible for ensuring that FAAC is being disbursed or is being used to fund a budget is the state House of Assembly,’ he said.

He argued that strengthening the autonomy of state legislatures would provide a more sustainable approach to accountability than creating additional monitoring arrangements.

Kwaga also identified local government autonomy as essential to financial accountability, warning that excessive control by governors over the years continued to undermine federalism and the separation of powers.

On the EFCC’s role, he acknowledged the commission’s powers to investigate corruption allegations but urged it to exercise them professionally and in good faith.

He warned that the monitoring exercise must not become an instrument for targeting political opponents ahead of the 2027 general elections, calling for transparency and public disclosure of its findings.

Kwaga cautioned against concentrating on governors and state officials while overlooking accountability concerns within the federal government, including delays in capital expenditure implementation and weaknesses in public financial management by federal agencies.

Beyond monitoring, Kwaga identified weaknesses in prosecution, particularly the quality of evidence presented in court and delays in the criminal justice system, as major challenges to Nigeria’s anti-corruption efforts.

He called for greater investment in investigative infrastructure, personnel welfare and effective sanctions for public officials who abuse their offices.

Similarly, Danladi Plang, Head of Nigeria Programmes at the International Institute for Democracy and Electoral Assistance, said government institutions at federal and state levels must be allowed to discharge their respective oversight responsibilities.

Plang equally identified state auditors-general and Houses of Assembly as the first line of accountability, stressing that audit reports should be made public to strengthen transparency and provide a basis for investigating financial infractions.

‘I think the first line of oversight for me would be those state agencies, so that they should be allowed to play their roles well. If they’re supposed to audit and make their audit reports public, they should do that,’ he said.

He maintained that law enforcement agencies should intervene where there were indications of financial crimes rather than assume the responsibilities of institutions constitutionally mandated to oversee state expenditure.

On concerns about political interference ahead of the 2027 elections, Plang warned against turning anti-corruption agencies into instruments of political persecution, stressing that financial crimes should be investigated regardless of the political season.

Although auditors-general could audit public accounts and submit reports to state assemblies, he noted that they lacked prosecutorial powers, which fell within the remit of law enforcement agencies such as the EFCC.

Plang said the independence and neutrality of anti-corruption agency leadership would be critical to ensuring that influential individuals were not shielded from investigation.

‘The moment they decide to split the gallery because somebody appointed them, then of course, you know that they will not bite,’ he said.

Alechenu David, Anti-Corruption Lead and Monitoring and Evaluation Officer at the Centre for Democracy and Development-West Africa, questioned the effectiveness of even relying primarily on government agencies to monitor public spending, calling for greater involvement of citizens and civil society organisations.

‘One of the biggest responsibilities that should be put on the people is the responsibility of monitoring. And doing it effectively has to be done by taking responses from the citizens,’ he said.

David also noted that the EFCC already had responsibilities relating to election financing, vote buying and tracking financial transactions during elections, cautioning that additional monitoring demands could affect its other responsibilities.

He called for stronger coordination among anti-corruption institutions, including the Nigeria Police Force, Code of Conduct Bureau, ICPC, EFCC and Nigerian Financial Intelligence Unit (NFIU), arguing that suspected financial crimes often involved multiple individuals and institutions requiring coordinated investigations and information-sharing. The monitoring initiative represents a shift towards preventive measures in public financial management, with the EFCC seeking to identify vulnerabilities in the handling of government allocations before funds are diverted.

Ola Olukoyede, EFCC chairman, had earlier explained that the FAAC monitoring was part of such measures to prevent financial crimes before public funds were diverted.

He said the commission was moving beyond its traditional emphasis on investigating financial crimes and recovering stolen funds to identifying vulnerabilities in public financial management and preventing the diversion of resources.

Olukoyede also disclosed that the commission had established a Department of Fraud Risk Assessment and Control to examine financial releases and track how public resources were utilised.

Philippines leads Asean push for green economy framework

THE Philippines is taking the driver’s seat in steering Southeast Asia toward a low-carbon future, with the Climate Change Commission (CCC) spearheading regional efforts to advance the landmark Asean Green Economy Framework Agreement (Gefa).

Under Philippine leadership, the CCC chaired a virtual intersessional meeting of the Asean Task Force on Carbon Neutrality (ATF-CN) to drive discussions on the feasibility of Gefa. The proposed agreement aims to significantly solidify regional cooperation on green economic growth and sustainable industrial transition.

The ongoing Gefa feasibility study is zeroing in on high-impact areas for inter-state cooperation, including sustainable finance, trade-related climate measures, environmental goods, and strategic economic and technical collaboration.

Emphasizing the commercial and social balance needed across the bloc, CCC Vice Chairperson and Executive Director Robert E.A. Borje stressed the necessity of an inclusive framework that respects the distinct economic realities and development priorities of individual Asean Member States.

‘This study must help us identify opportunities for cooperation that deliver shared benefits while recognizing the different circumstances and capacities of Asean Member States,’ Borje said in a statement.

‘As we work toward a low-carbon economy region, we must ensure that the proposed framework is responsive to our diverse priorities and supports a transition that benefits the entire region,’ he added.

For the Philippines and fellow developing Asean member nations, the framework opens vital avenues to structure regional cooperation tailored to varying national capacities, institutional readiness, and economic agendas. Key targets for joint action include targeted capacity-building, technical assistance, and the scaling of sustainable finance mechanisms to help countries evaluate and execute their respective green economy initiatives. Importantly, the feasibility study is tasked with defining how GEFA will deliver distinct value-add without duplicating existing regional programs.

From a national strategic standpoint, regional cooperation under GEFA is poised to directly bolster the Philippines’ climate commitments under its Nationally Determined Contribution (NDC). It offers a blueprint to accelerate low-carbon development, build competitive green industries, and mobilize sustainable finance streams. By synchronizing regional policies, Asean member states can establish complementary approaches to cutting greenhouse gas emissions without sacrificing their broader economic growth and industrial targets.

During this initial ATF-CN Intersessional Meeting, delegates thoroughly reviewed the draft Inception Report of the GEFA Feasibility Study, evaluating its scope and methodology for mapping concrete regional opportunities.

Reaffirming Manila’s leadership role, the CCC-in its capacity as chairman of the ATF-CN-reiterated its commitment to push regional carbon neutrality forward through an inclusive, evidence-based process that honors the varied economic capacities and circumstances of Asean nations.

PMI: Factories stock up as recovery remains elusive

MANUFACTURERS are building up inventories in anticipation of stronger production, even as weak demand continues to pull down output and new orders, with factory activity contracting for a second straight month in October.

The Philippines Manufacturing Purchasing Managers’ Index (PMI), compiled by Standard and Poor’s (SandP) Global Market Intelligence, slipped to 49.1 in October from 49.6 in September. A reading below 50 indicates a deterioration in operating conditions.

The latest decline marked the third monthly contraction in the sector this year. SandP said manufacturers faced subdued demand at home and abroad, prompting them to cut production and purchasing activity.

Output and new orders both declined, although the fall in production eased slightly from September. The contraction in new orders, meanwhile, deepened, with companies reporting weaker demand from both domestic and foreign customers.

‘Some firms cited that weak demand and the current hot weather, linked by some panellists to El Niño, weighed on the two main contributors to the headline PMI index,’ SandP said.

The weakness in orders also prompted manufacturers to scale back purchases of materials and other inputs. Buying activity fell at its fastest pace in 11 months, even as the decline in new export orders eased and remained modest.

According to SandP Principal Economist Sin Jones, the sharper drop in purchasing activity and continued job losses showed that manufacturers remained cautious amid subdued demand.

But supply conditions offered little relief. Although the deterioration in supplier performance eased slightly in October, delivery times still lengthened for an 11th consecutive month.

Material shortages at suppliers were reported by some companies, resulting in delayed deliveries and changes to production schedules, SandP said.

Against this backdrop, manufacturers kept pre-production inventories broadly unchanged after reducing them in September. Stocks of finished goods, however, rose marginally for the first time in four months, as some firms anticipated a pickup in production.

That optimism was also reflected in business confidence, which rebounded to a near two-year high. Firms expected new projects and customers to support production growth over the next 12 months, Jones said.

But expectations have yet to translate into stronger orders or hiring. SandP reported that employment continued to decline, while manufacturers’ operating expenses and selling prices rose only modestly, largely because of higher material costs passed on to customers.

For his part, Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said the expected El Niño conditions through early 2027 could add pressure on manufacturers, particularly through lower agricultural output and higher food and raw material prices.

He said record exports in recent months, driven by stronger demand for artificial intelligence-related electronics and products, could provide support for some local manufacturers and the broader economy.

On the other hand, Jones also warned that the Bangko Sentral ng Pilipinas’ latest 50-basis-point rate increase, which brought the policy rate to 5.5 percent, could weigh on demand and investment by raising borrowing costs.

Climate fears push 89% of Nigerians to demand methane cuts

Nearly nine in 10 Nigerian adults now back action to cut methane emissions, a 17-point jump from a year earlier, as flooding and water problems make climate change harder to ignore, according to a new poll seen by BusinessDay.

Support for reducing methane rose to 89 percent from 72 percent in 2024, the survey by the Global Methane Hub and the Yale Program on Climate Change Communication found.

More than half of Nigerians, 53 percent, said they are very concerned about climate change, and 69 percent believe human activity causes it.

Some 67 percent are very concerned about poor water quality, 60 percent each about flooding and access to drinking water, and 55 percent about air quality.

Findings showed heavy rains in July triggered widespread flooding across parts of Nigeria, including Lagos, and authorities warned that 27 states could be affected. Officials later put 14 states on flood alert.

‘As flooding and water challenges put greater pressure on communities across Nigeria, the case for tackling methane is becoming increasingly clear,’ said Marcelo Mena, chief executive officer of the Global Methane Hub.

He said cutting leaks, venting and flaring in oil and gas would also make Nigerian crude and gas more competitive, because buyers in Europe increasingly want lower-methane supply.

Methane is a short-lived pollutant more than 80 times as potent as carbon dioxide over 20 years. It accounts for roughly 30 percent of warming since preindustrial times.

Cutting human-caused emissions 45 percent this decade could avert nearly 0.3 degrees Celsius of warming by 2045, according to the hub.

Industry in the Spotlight

Nigerians see the oil and gas industry as both culprit and potential fix. About 57 percent rank the sector among the top three entities to blame for climate change, yet 78 percent say it is very capable of making meaningful changes. Respondents also named corruption as a barrier to enforcing environmental rules.

Support for cuts is broad across sectors. Some 88 percent back lower methane emissions from energy production and from waste disposal, and 84 percent want cuts from agriculture. About 64 percent of respondents said they are familiar with methane.

Tengi George-Ikoli, Nigeria country manager at the Natural Resource Governance Institute, said the Niger Delta already bears costs from methane-related harm.

‘Communities are justified in calling for stronger enforcement of environmental regulations and for clear mechanisms to prevent, mitigate and respond to methane-related harm,’ she said.

As Nigeria expands its use of gas, she added, cutting methane must remain a priority to protect vulnerable populations and help meet climate commitments.

Global picture

The online survey covered 12,189 adults in 18 countries, including at least 700 in Nigeria. The other countries were Brazil, China, Denmark, Ethiopia, Germany, Greece, Indonesia, Italy, Malaysia, Morocco, Paraguay, South Africa, South Korea, Spain, the United Arab Emirates, the U.K. and Uruguay.

Across all of them, 85 percent support action on methane. Backing was highest in South Korea at 94 percent, followed by Malaysia at 91 percent, China and Brazil at 90 percent, and Nigeria and South Africa at 89 percent. People who report experiencing more climate impacts were more likely to support action.

‘Understanding what people know and think is essential to effective public communication and policymaking,’ said Anthony Leiserowitz, director of the Yale program. He said the data can help identify knowledge gaps and strengthen communication campaigns.

Melissa Bell, senior vice president for research at Global Strategy Group, the hub’s survey partner, said respondents ‘expect those with the greatest ability to make a difference to take responsibility.’

The Global Methane Hub, which says it has raised more than $500 million from over 20 climate philanthropies, argues that no country can tackle methane alone because the gas crosses borders.

Corn posts double-digit dip in output in 3rd quarter, says PSA

THE country’s corn output slid by double digits in the third quarter due to a contraction in harvest area, according to the Philippine Statistics Authority (PSA).

Data from the PSA showed that corn production in the July to September period fell by 17 percent to 2 million metric tons (MMT), from the 2.43 MMT recorded last year.

Yellow corn, a key ingredient for animal feeds, plunged by almost 20 percent to 1.38 MMT in the reference period, from the previous year’s 1.72 MMT.

White corn also slipped by 12 percent to 620,581 metric tons (MT), from 707,471 MT, based on PSA data.

The harvest area contracted by 12 percent to 691,825 hectares from 789,243 hectares, with the yield per hectare dropping to 2.9 MT in the reference period from 3.07 MT.

Northern Mindanao posted the highest production in the third quarter at 496,830 MT. This was followed by BARMM at 415,361 MT and Soccsksargen at 340,408 MT.

MAV plus

Earlier, President Ferdinand Marcos Jr. issued Executive Order (EO) 129, which expanded the minimum access volume (MAV) for corn to 500,000 MT due to a projected supply shortfall that could potentially jack up food costs.

Agriculture Secretary Francisco Tiu Laurel Jr. said maintaining an ample supply of affordable corn would help sustain livestock and poultry production, since feed accounts for a significant share of operating expenses for hog raisers and poultry producers.

‘Ensuring a sufficient supply of low-priced corn is essential to supporting animal feed production, keeping production costs of meat affordable and protecting the country’s food security,’ he said.

‘We need to make sure our livestock and poultry industries have access to the feed ingredients they need without placing additional pressure on consumers.’

The DA said the additional imports would be allowed during the lean season, serving as a supplement to domestic production rather than displacing locally harvested corn.

The agency noted a projected yellow corn deficit of about 1.42 MMT from March through December 2026.

‘Corn is a principal energy source in livestock and poultry feeds. Any sustained increase in its price can raise procurement costs for feed millers, increase expenses for livestock raisers, and eventually translate into higher prices for meat products.’

EFCC records 52 illegal mining cases, secures forfeiture of 102 tonnes of minerals

The Economic and Financial Crimes Commission (EFCC) has disclosed that it recorded 52 illegal mining cases between October 2023 and July 2026, leading to investigations, prosecutions and convictions, while securing the forfeiture of 102 tonnes of solid minerals.

Ola Olukoyede, the EFCC Chairman, disclosed this on Tuesday in Ilorin while delivering a keynote address at a public lecture and capacity-building workshop organised by the Michael Imoudu National Institute for Labour Studies in collaboration with the Human and Environmental Development Agenda (HEDA).

Speaking on the theme, ‘Uprooting the Roots of Resource Theft: A Zero-Tolerance Approach to Mining Corruption and Increasing Insecurity in Nigeria,’ Olukoyede identified illegal mining, corruption and resource theft as major threats to Nigeria’s economic growth and national security.

He said Nigeria’s vast deposits of gold, lithium, tin, lead, zinc, columbite and other valuable minerals had the potential to transform the economy but were being undermined by corruption, illegal exploitation and insecurity.

According to him, illegal mining is not merely the activities of individuals operating without licences but involves organised networks of financiers, buyers, transporters, compromised officials and beneficiaries of illicit proceeds.

He stressed that the EFCC’s strategy was to dismantle the entire criminal network by tracing the financial transactions and assets linked to illegal mining rather than concentrating solely on operators at mining sites.

Olukoyede explained that although the commission was not responsible for issuing mining licences or regulating the sector, but it intervened where corruption, fraud, money laundering, illicit financial flows and proceeds of crime were suspected.

The EFCC chairman warned that illegal mining could fuel insecurity through extortion, smuggling, violence, territorial conflicts and the financing of other criminal activities.

He called for stronger collaboration among mining regulators, security agencies, financial institutions, customs authorities and revenue agencies, particularly through intelligence sharing, joint investigations and coordinated enforcement.

Olukoyede also urged traditional rulers, community associations, youth groups and civil society organisations to support efforts to expose suspicious mining activities.

He emphasised the need for transparency and accountability in the mining sector, noting that organised labour and the media had important roles to play in promoting lawful mining practices, decent employment and protection of host communities.

The EFCC chairman assured that the commission would continue to investigate financiers and facilitators of illegal mining, trace illicit proceeds, pursue criminal assets and prosecute suspects based on evidence.

He maintained that Nigeria’s mineral resources must benefit its citizens, stressing that the fight against resource theft required collective commitment from both state and non-state actors.