Category: Nigerian Tribune

WHERE are the materials Honourable Ibrahim Abdullahi Sa’ad donated to General Hospital, Umaisha, in Toto Local Government Area of Nasarawa State? Unfortunately, in Nigeria, questions about the whereabouts of things provided for the public are becoming common. Sa’ad, who represents Umaisha/Ugya Constituency in the Nasarawa State House of Assembly, recently visited the hospital and was disturbed when he could not find the mattresses and fans he had donated for patients. In a video that went viral, he demanded explanations from hospital officials. Reports quoted him as saying he had provided about 50 orthopaedic mattresses, more than 50 ceiling fans and about 40 standing fans. Sa’ad later clarified that the materials had been donated more than two years ago and acknowledged a disparity between the quantities he mentioned in the viral video and what was supplied. He said he was informed that some materials had been kept in the hospital store while others were being used in staff quarters.

If the materials were donated to improve conditions in hospital wards, why were they not identifiable more than two years later? Which items were received and how many? Which remained in the store? Which were transferred to staff quarters, by whose authority, and for what purpose? Reports quoted a hospital official as saying some mattresses had been allowed to leave the facility temporarily with discharged patients. Where is the register documenting such movements? Every public hospital should maintain an asset register showing what it receives, where each item is deployed, and when it is transferred or disposed of.

The Nasarawa State Hospitals Management Board constituted a committee to investigate the matter. Governor Abdullahi Sule also directed the Commissioner for Health to investigate and said anyone found responsible for diversion should be dismissed and prosecuted. That response is commendable. But the findings should be made public as soon as possible. What happened in Umaisha touches a deeper Nigerian problem: our increasingly destructive relationship with anything regarded as belonging to everybody. Nigerians complain, justifiably, that governments do not provide enough. Hospitals lack beds, medicines and equipment. Schools lack books and furniture. Roads and bridges deteriorate. Electricity infrastructure is vandalised. Yet, when government, philanthropists, legislators, communities or private citizens provide what they can, somebody within the same society removes, diverts, damages or appropriates it. How do you demand more public goods while destroying the few you already have?

Only in May, the University College Hospital (UCH), Ibadan, confirmed a case of diesel theft. UCH spokesperson, Funmi Adetuyibi, confirmed the theft depicted in a viral video. Imagine the contradiction: somebody earning a living from a public hospital can steal the fuel needed to support its operations. There is an even more frightening example. The Federal Government recently ordered CCTV cameras to be installed on the First Niger Bridge after vandals removed bolts, iron bars, expansion-joint components and other parts. What kind of reasoning makes someone steal bolts from a bridge that he, his relatives and fellow citizens may travel on tomorrow?

The same mentality appears in different forms. In 2023, Kano authorities uncovered a warehouse containing palliative food allegedly diverted from intended beneficiaries, leading to arrests and an investigation. The ICPC has also investigated allegations involving diversion of COVID-19 funds and palliatives. The health sector presents particularly painful examples because lives are involved. A published study of physician self-referral in Nigerian public hospitals found instances in which patients were redirected towards private facilities associated with public-sector doctors. The researchers found both direct and indirect forms of patient diversion. There are also cases of public hospital workers diverting hospital materials.

Nigeria certainly has a political-leadership problem. Politicians mismanage resources, public institutions frequently fail and corruption at the highest levels deserves relentless scrutiny. But national failure cannot be explained entirely by politicians. We cannot build an accountable country by demanding accountability only from people above us. There is also an important institutional lesson in the Umaisha episode. Donations to public institutions should never depend on memory. Every donated asset should be formally received, numbered, tagged and entered into an auditable inventory. Transfers between wards, stores, offices or staff accommodation should be recorded. Periodic verification should reconcile the register with what exists. Technology makes this inexpensive. A QR code or asset number on every item, linked to a digital inventory, would allow management, auditors and donors to establish where an asset is supposed to be. Hospital boards should publish annual summaries of major donations and their deployment. Such accountability is important for another reason: Nigeria must not discourage generosity.

Why should a legislator, community association, diaspora group, company or private citizen donate beds, computers, books, medicines, fans or medical equipment to public institutions if there is no assurance that the donations will still serve the public a few years later? Every unexplained disappearance destroys trust and discourages the next donor. Sa’ad deserves commendation for returning to see how his intervention was being utilised. Too often, politicians commission projects, distribute materials, take photographs and never look back. But follow-up is part of stewardship. His clarification is equally important: hospital officials must properly account for donated materials, but accusations must also correspond to verified facts. The Nasarawa investigation should settle the matter transparently. Let the public know what was donated, what remains, where it is, and whether anything was improperly removed. Wrongdoing must have consequences. If poor records, communication or inappropriate deployment caused the controversy, that too should be stated and corrected.

The question is larger than Umaisha General Hospital. How do you build a country when some steal from the country they say has failed them? Nigeria cannot be repaired only in Aso Rock, state government houses or the National Assembly. It must also be repaired in hospitals, schools, ministries, warehouses, and communities, where citizens decide whether something belonging to everybody belongs to nobody or to all of us and must be protected.

The public property stolen today becomes the public service Nigerians complain is missing tomorrow.

Governor Uba Sani provided the political will that enabled the Kaduna State Internal Revenue Service(KADIRS) to increase Internally Generated Revenue, without interfering with its operations, said the outgoing Executive Chairman of KADIRS, Mr Jerry Adams.

Adams made this known while speaking at the ongoing 160th meeting of the Joint Revenue Board, held in Kaduna on Thursday.

In his submission, Mr Adams noted that the IGR of Kaduna State stood at N58 billion before 2023 and by 2023, it had risen to ?62 billion, adding that in 2024, it had reached ?71 billion.

”In 2025, we recorded an annual revenue of ?85 billion, with an average monthly collection of ?7 billion. Today, we are trending towards ?120 billion, at a monthly average of ?10 billion,” he disclosed.

The outgoing Executive Chairman pointed out that the IGR figures are not a spike but ”a trend that is steady and sustainable, with even stronger performance ahead as we deepen collaboration with MDAs, stakeholders, and with the full support of His Excellency, the Governor.”

He recalled that ”between 2019 and 2023, the highest annual collection this Service ever recorded was ?59 billion in 2022 at a monthly average of about ?4.8 billion.”

”On paper, that looked like progress. But if you looked closer, as we eventually did, you’d find out that a significant portion of that revenue didn’t come from organic tax growth.

”It came from back-duty recoveries, sale of government properties and some other one-off recoveries, not a growing, breathing tax base,” Mr Adams had disclosed.

According to him, ”by early 2023, that model had done exactly what such models always eventually do: it stalled. Vertical growth had become stunted, just as we feared it would.”

Mr Adams said that KADIRS then had an honest and uncomfortable conversation, decided that ”we could no longer keep squeezing the same familiar taxpayers a little harder each year and call it strategy. ”

”We needed to grow horizontally, not just vertically; to expand the tax net itself, rather than simply tighten it around those already caught in it, and to stop relying on windfalls to flatter our numbers,” he clarified.

The outgoing Executive Chairman said that KADIRS decided to fully digitize its processes to block leakages, through the introduction of the PAYKADUNA portal, alongside Project C.R.A.F.T (Cross-Sector Systems for Revenue Administration and Fiscal Transparency).

”This gave us, for the first time, a centralised payment system for all state revenue, closing gaps that informal, cash-based collection had long allowed to thrive,” he added.

According to him, the Service recruited more staff ‘to comb the streets and expand the tax net, provided necessary working tools and facilitated promotions that had been delayed.”

Mr Adams further said that KADIRS also ”provided capacity building opportunities to staff and established three additional area offices to complement the existing 34 offices for improved accessibility.”

”We also strengthened partnerships beyond our own borders with institutions like the Joint Revenue Board, the Nigeria Revenue Service, and the Nigerian Financial Intelligence Unit, particularly around data sharing, which has been invaluable in identifying taxable activity that would otherwise have gone unseen,” he added.

Mr Adams who is the APC running mate for the 2027 gubernatorial election, concluded that tax compliance is a function of trust.

”When we began, compliance across the state stood at a modest 30 per cent. Today, I am pleased to report that the compliance level has risen to approximately 65 per cent,” he disclosed.

The Secretary to the Government of the Federation (SGF), Senator George Akume; former President of the African Development Bank (AfDB), Dr Akinwumi Adesina; and 28 others have been listed for recognition as Nigeria’s heroes, according to the Daily Times of Nigeria (DTN).

The disclosure comes after the newspaper earlier announced a separate category featuring current and former presidents and other distinguished Nigerians, while the Times Heroes Award category focuses on individuals whose contributions to national development cut across public service, politics, business, entrepreneurship and other sectors.

Chairman of the DTN@100 Heroes Awards Council, Bolaji Okusaga, disclosed the names while speaking with journalists in Abuja yesterday, ahead of the award ceremony scheduled for Thursday.

Okusaga said about 30 Nigerians would be honoured in the first batch, with subsequent ceremonies expected to produce the remaining honourees under the centenary award cycle, which is expected to climax in June 2027.

He said about six to seven governors would be recognised alongside public servants, lawmakers, private-sector leaders, entrepreneurs and Nigerians whose activities have had national or global impact.

Akume, according to him, would be recognised for his public service career spanning several decades, including his tenure as governor of Benue State, his years in the Senate and his current position as SGF.

Adesina, a former President of the AfDB, is to receive the Global Impact Award and is expected to deliver the keynote address at the ceremony.

Okusaga said the selection process was not restricted to political office holders, explaining that nominees were subjected to a process involving nominations, engagement with candidates, and physical verification of claims about their achievements.

‘Daily Times could not have done this because for you to be a news platform, you need news makers. So we are awarding news makers over the course of the last 100 years, with particular emphasis on the last 10 years, who have added to Nigeria as a nation,’ he said.

He said nominees who did not make the first batch could still be considered in subsequent rounds, adding that the recognition would extend to the judiciary, legislature, security agencies, traditional institutions and other sectors.

Among those also listed for recognition is Senator Ahmed Wadada, while other Nigerians whose contributions have enriched the country are expected to feature in subsequent categories.

Beyond the awards, Okusaga said the 100 Nigerians eventually selected under the centenary programme would be documented in the Nigeria Grand Book, a historical record of the country’s development from 1914 through independence and the post-independence era.

Reflecting on the history of the newspaper, he said the Daily Times played a role in Nigeria’s independence struggle and subsequent national development, including its contribution to the establishment of the Nigerian Stock Exchange.

He also recalled the newspaper’s investment in education and its pioneering of the Evening Times, which provided more frequent news updates before the emergence of the internet and the current 24-hour news cycle.

Okusaga said the centenary also offered the newspaper an opportunity to examine how it could respond to changing patterns of news consumption and the evolving media environment.

The Daily Times, which began publication in 1926, is marking its 100th anniversary with a series of activities culminating in the DTN@100 Heroes Awards ceremony in Abuja.

The City Boy Movement has appointed aviation entrepreneur and political mobiliser, Isaac Balami, as an executive board member of its organisation and its National Director on Special Duty.

Balami, who recently left the Obidient Movement, has been actively mobilising support groups and political associates towards the All Progressives Congress (APC), with indications of a broader political realignment ahead of the 2027 general elections.

His appointment letter was formally presented to him by the Director-General of the City Boy Movement, Hon. Francis Oluwatosin Shoga, and the National Secretary, Hon. Tosin Odufuwa, alongside other board members.

The development was also confirmed by Seyi Tinubu, son of President Bola Ahmed Tinubu.

The executive board is the highest decision-making body of the City Boy Movement and is responsible for providing strategic direction and overseeing the activities of the moment.

Balami’s inclusion in the board is being viewed by supporters as significant because of his growing influence among young political and support groups across the country.

His coming on board is also expected to give a boost to President Bola Ahmed Tinubu’s 2027 campaign mobilisation in the North and Middle Belt, particularly with Balami’s growing network of support groups and political associates in the regions.

He is also described by associates as the first Christian from Northern Nigeria to serve on the board, a development they believe would strengthen the representation of different ethnic, religious and regional interests within the movement.

The appointment comes amid Balami’s increasing political activities following his reported departure from the Obidient Movement.

In recent months, he has led several support groups and political platforms in moves towards the APC, as part of preparations for what has been described as a larger national political crossover.

The City Boy Movement has also appointed Ahmad Abdulaziz Yari, the son of former Zamfara State Governor and Director-General of President Bola Ahmed Tinubu’s 2027 Presidential Campaign Council, Governor and Senator Abdul’aziz Yari, to its board.

The latest appointments are expected to further strengthen the movement’s political structure and broaden its reach among young Nigerians and political support groups ahead of the 2027 elections.

Balami, who has built a profile in Nigeria’s aviation sector, has in recent years combined his professional activities with youth mobilisation, political advocacy and support for political movements. He was the Deputy Campaign Manager for the Obi/Datti campaign organisation in 2023.

His latest role is expected to place him at the centre of the City Boy Movement’s efforts to coordinate political mobilisation and expand its network across different regions of the country.

House of Representatives ad hoc committee investigating the purported Presidential Foreign Intervention Promotion Council (PFIPC) has cleared the Chief of Staff to the President, Femi Gbajabiamila, of involvement in the establishment or operations of the organisation.

The committee’s Chairman, Rep. Yusuf Gagdi (APC-Plateau), disclosed this in the panel’s preliminary report released in Abuja on Wednesday.

Gagdi said the committee found no evidence linking Gbajabiamila to the establishment or operations of the purported organisation.

According to him, the findings showed that Gbajabiamila neither authorised nor approved the establishment or operation of the PFIPC, contrary to allegations made by the organisation’s purported Director-General, Adeniyi Adeyemi.

The chairman said evidence presented before the committee showed that a letter purportedly appointing Adeyemi as Director-General was fabricated and falsely attributed to Gbajabiamila.

He said Gbajabiamila neither issued nor signed the letter, while the letterhead and reference number used were inconsistent with official State House correspondence.

Gagdi said documentary evidence further showed that Gbajabiamila took steps to expose and investigate the purported organisation after receiving a formal alert.

‘The Chief of Staff acted within one day of receiving an alert from the Nigerian Investment Promotion Commission over suspected fraudulent activities,’ he said.

He added that Gbajabiamila subsequently communicated with relevant security and investigative agencies over the matter.

The agencies, according to him, included the Nigeria Police Force, Department of State Services, Economic and Financial Crimes Commission and the Office of the National Security Adviser.

Gagdi said the committee preliminarily commended Gbajabiamila for what it described as timely security and administrative interventions.

He, however, stressed that the findings remained preliminary and did not constitute the final report or decision of the House.

The committee also found that the PFIPC was not established by any valid Act of the National Assembly, executive order or other lawful instrument.

Gagdi said the panel uncovered alleged fabrication of presidential correspondence, a purported executive order and an altered document presented as an Act of Parliament.

He identified Adeyemi as the principal person associated with the purported organisation and recommended further investigation into alleged financial transactions involving it.

Adeyemi had alleged that Gbajabiamila was behind the establishment of the organisation and collected N400 million as bribe.

He also alleged that the Chief of Staff demanded an additional N200 million bribe.

According to Gagdi, the purported agency was captured in the 2026 budget and allocated office space at the Federal Secretariat Complex.

He said it also operated accounts with the Central Bank of Nigeria and obtained an official vehicle bearing a government number plate.

The chairman, however, said the purported organisation secured government facilities and other privileges through allegedly forged documents and fraudulent means.

National Insurance Commission (NAICOM) is pushing to accelerate the transformation of Nigeria’s insurance landscape and position the sector as a more inclusive, innovative, resilient, and trusted contributor to national development.

Speaking at the launch of the Insurance Sector Strengthening Programme (ISSP) on Thursday in Abuja, the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, said, ‘Today marks an important milestone in our collective journey to build an insurance industry that responds effectively to the evolving needs of our economy and our people.

‘As the regulator of the insurance sector in Nigeria, the National Insurance Commission (NAICOM) is clear in its mandate: to protect policyholders, preserve market stability, enforce sound market conduct, and promote the orderly growth of the industry’.

He explained that sustainable growth cannot be achieved by regulation alone, ‘but growth without discipline, transparency, and accountability cannot serve the public interest. It requires collaboration, innovation, consumer confidence, professional competence, and a shared commitment to deepening insurance penetration across every segment of society.

‘The importance of this initiative is clear when viewed against the realities confronting our industry. Despite Nigeria’s large and growing economy, insurance penetration remains significantly below its potential.

Many citizens remain uninsured or underinsured, public understanding of insurance products and benefits is still limited, and opportunities among women, youth, and small businesses are not yet fully harnessed. Issues of trust, capacity gaps, and fragmented distribution channels also continue to constrain industry growth.

‘These challenges should not be viewed merely as obstacles. Rather, they point to the need for innovative solutions, stronger industry coordination, and deeper stakeholder engagement to unlock the enormous potential of Nigeria’s insurance market’.

The Commissioner said the ISSP provides a structured and strategic response to these priorities. ‘Built around six critical pillars-Advocacy and Policy, Awareness and Education, Capacity Building, Gender Inclusion, Youth Engagement, and MSME and Value Chain Development-it offers a comprehensive framework for advancing the growth and sustainability of the insurance sector.

‘Its focus on awareness and education is particularly timely. Insurance uptake is directly linked to public understanding and trust. No insurance market can flourish where consumers do not appreciate insurance as a practical tool for financial protection and risk management.

‘Through targeted campaigns, stakeholder education, and innovative communication approaches, the ISSP aims to strengthen insurance culture and improve financial literacy among Nigerians.

‘Equally important is the programme’s emphasis on capacity building. The future competitiveness of our industry depends on the quality of its human capital. As technologies evolve and customer expectations change, insurance professionals must continue to develop the skills and competencies required for excellent service delivery.

‘The proposed training and professional development initiatives will strengthen technical expertise, professionalism, and performance across the insurance value chain,’ he stated.

Omosehin reaffirmed that the programme prioritizes gender inclusion and youth participation. ‘No sector can achieve sustainable growth when large segments of society remain underserved or underrepresented. Women are a significant economic force, while young people represent the future of our nation and our industry.

‘Bringing these groups into the mainstream of insurance through tailored products, innovative engagement, and career development opportunities will expand market reach and enhance the sector’s relevance.

‘The programme further acknowledges the central role of Micro, Small, and Medium Enterprises in national economic development. MSMEs drive employment, innovation, and productivity, yet many operate without adequate risk protection. Expanding insurance access for this segment will promote business resilience, economic stability, and long-term enterprise growth.

‘The ISSP also aligns strongly with the objectives of the Nigeria Insurance Industry Reform Agenda (NIIRA 2025). It supports key sector priorities, including deepening insurance penetration, enhancing professionalism, promoting innovation, strengthening consumer protection, and increasing the sector’s contribution to national economic growth,’ the Commissioner noted.

Omosehin said the ISSP provides a platform for regulators, insurers, intermediaries, technology providers, development partners, and consumers to work together in pursuit of these shared objectives.

A major tragedy struck the Okari Jetty area of Okrika Mainland, Okrika Local Government Area of Rivers State, as an illegal bunkering attempt on an export pipeline belonging to Indorama Eleme Petrochemicals Limited resulted in the death of at least 43 youths, with several others reported missing.

The incident, which occurred on Thursday, has sparked widespread tension and panic across neighbouring riverine communities.

According to emerging reports, the disaster occurred when a vessel anchored at the riverside jetty to load petroleum products for export.

More than 200 youths from surrounding communities reportedly arrived at the jetty in locally made boats to siphon a volatile petroleum byproduct, commonly known as ‘C5’, from an illegally tapped point on the pipeline. C5 is a high-concentration chemical used in plastic manufacturing.

The victims were reportedly overcome by the toxic, high-pressure chemical fumes while attempting to siphon the substance into their boats.

Confirming the tragedy, the Rivers State Police Command, through its Public Relations Officer, ASP Blessing Agabe, stated that the victims were allegedly attempting to steal petroleum products when the disaster occurred.

ASP Agabe noted in a brief statement that while the exact number of casualties had not been fully verified by security agencies, investigations into the incident were ongoing.

Speaking on behalf of civil society, Dr Fineface Dumnamene, Executive Director of the Youth and Environmental Advocacy Centre (YEAC-Nigeria), provided further context on the nature of the chemical involved and the casualties recorded along the waterways.

Clarifying the chemical composition, Fineface explained, ‘The fuel is called Indorama fuel, but we have found out that it is called C5. So, this C5 is a byproduct that comes from the production of plastic product at the petrochemical company of Indorama. And as a result of the fact that they don’t have license to sell that product in Nigeria, they normally export it outside the country.’

He added, ‘We now got report that some youths from within the area tapped into the pipeline that brings this product from petrochemical to the waiting vessel that comes every two weeks. And in the process of that, due to the high concentration of the product and the flammable nature and how strong the fume is, they now inhaled the fume because of the pressure it was also coming with, and we got report that about 37 persons allegedly died and many others are still missing with some corpses still found floating on the river.’

Expressing deep sadness over the tragedy, the advocate strongly warned Niger Delta youths against pipeline vandalism, oil theft and artisanal refining, urging them not to risk their lives despite the severe economic conditions.

‘We have to warn our youth, like we’ve been warning them at the centre, that breaking into pipelines, stealing product will not help them,’ Fineface cautioned. ‘No matter how there is hunger in the land, stealing product of this nature is not very good because look at now, in the process of trying to get something to eat, they have lost their lives. If they have still had their lives with them, who knows, tomorrow it may have been better. So, we warn the youth of the Niger Delta to stay away from pipeline vandalism, crude oil theft, and artisanal refineries.’

The YEAC director called on the Federal Government to urgently provide sustainable economic alternatives for youths in oil-producing communities through legal channels.

‘It is important for the federal government to look for alternative livelihood opportunities for these youths who are interested in going into the petroleum sector to make a living. I think that if the government is able to provide the license they promised the youth in the Niger Delta for modular refinery, it will go a long way to keep them busy,’ he urged.

‘We have also been proposing the legalization of artisanal refineries through the Presidential Artisanal Crude Oil Refining Development Initiative (PACORDI) that the YEAC in Nigeria proposed on 27th July 2020, that if this is established, it will help these youth to be engaged through cottage petroleum refining processes. They pay tax to government, get their licenses, and everybody will get busy away from pipeline that they are using to export product outside the country.’

He further urged both Indorama and the Nigerian National Petroleum Company Limited (NNPC Ltd) to beef up physical security along the Okari Jetty export corridor to prevent future breaches.

‘The companies, Indorama and the NNPC Ltd, they should try as much as possible to provide security for their pipeline so that the youth will not have access to it, break into it, and then begin to tap their product that they are trying to export outside the country,’ Fineface emphasised.

Former Vice President Atiku Abubakar has welcomed the call by the Independent Petroleum Marketers Association of Nigeria (IPMAN) for government intervention with domestic refiners to reduce petrol prices.

Reacting on Thursday through his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku said IPMAN’s position aligns with the central principle of his proposal to make energy affordable through support for domestic refining.

The statement noted that IPMAN’s intervention is significant because it comes from operators who buy, distribute and sell petroleum products daily and, therefore, have direct experience of the impact of fuel prices on businesses and households.

‘IPMAN has come to the right conclusion. The association is now saying that government cannot simply stand aside while petrol prices affect Nigerians and that deliberate support for domestic refining can help bring prices down,’ the statement said.

Atiku explained the difference between past import-based subsidy regimes and a production-linked intervention aimed at strengthening local refining capacity.

‘My principle is simple: support should follow the barrel. Strengthen Nigerian refining and ensure that the benefit follows that barrel all the way to the Nigerian consumer,’ he said.

‘Nigeria produces crude oil. It is important to maximise processing at home so that Nigerians can benefit from affordable fuel as part of broader economic reforms.’

Atiku said the proposal would also align with the objectives of the Petroleum Industry Act, including promoting petroleum processing within Nigeria and ensuring access to affordable petroleum products.

‘The law itself recognises that local refining and affordability matter. A policy that expands domestic refining capacity while lowering the burden on consumers, therefore, advances the direction of the PIA,’ he stated.

He added that the real test of petrol policy is its impact on household income.

Citing the DailyFuels Fuel Affordability Index, he said the index estimates that the average Nigerian requires about 44 minutes of work to afford one litre of petrol, while a 40-litre tank represents about 29.5 hours of work under its methodology.

‘A teacher does not experience fuel policy through a government spreadsheet. A trader experiences it when transportation costs rise and customers have less to spend. By the time goods reach the market, higher energy costs have added to the price at each stage,’ he said.

According to Atiku, making fuel affordable is a cost-of-living issue because energy costs affect transportation, food, production and distribution.

The former Vice President said IPMAN’s position should be followed by practical collaboration on policy implementation.

‘I therefore invite IPMAN to bring its experience, market knowledge and advisory capacity into the monitoring and implementation of this policy from 2027,’ he said.

‘The people who buy, distribute and sell petroleum products every day know where distortions occur and where good policy can be affected between the refinery gate and the filling station. That knowledge should be put at the service of Nigerians.’

Atiku said his commitment was for any intervention to strengthen domestic refining, expand local capacity, prevent arbitrage, operate transparently and deliver relief at the pump.

He said IPMAN’s position highlights the growing consensus around domestic refining and consumer relief as key elements of petroleum sector policy.

‘So, I welcome IPMAN. Let us prepare together for 2027 – marketers, refiners, regulators, consumers and independent monitors – and build a system where support follows the Nigerian barrel and relief follows that support all the way to the filling station,’ he said.

‘That is the contract we offer Nigerians: local capacity first, transparency first, purchasing power first and affordable energy first.’

Agriculture has traditionally been associated with direct farm ownership and labour. However, many people who want exposure to the agricultural sector would rather avoid the daily demands of checking poultry houses, monitoring irrigation systems or managing delicate seedlings.

Managed or turnkey agricultural investments offer an alternative. The basic model involves an investor providing capital while a third party handles the day-to-day operations, from production and farm management to harvesting and marketing.

This arrangement can make agricultural investment relatively hands-off, but it does not eliminate risk or guarantee returns.

For an urban professional considering such an opportunity, the key questions go beyond projected profits. Investors need to understand what they are buying, who is managing the farm and what happens if the project performs below expectations.

What does ‘turnkey’ agriculture mean?

A turnkey agricultural arrangement allows investors to participate in an operating agricultural project without personally setting up or managing every part of the farm.

Depending on the model, the operator may provide the land, infrastructure, inputs, labour, technical expertise, production management and marketing of the farm’s output.

The investor’s role is primarily financial. This model can appeal to people who have capital but lack the time, technical knowledge or interest required to run a farm.

However, there is an important difference between a professionally managed agricultural business and an investment product promising effortless returns. The former can be a legitimate commercial arrangement, while the latter requires careful scrutiny.

Where does ‘passive income’ come from?

Agricultural income does not become passive simply because an investment is marketed that way.

Income can be relatively hands-off when the investor’s responsibilities are clearly separated from the farm’s daily operations.

For example, an investor could finance a greenhouse project while a professional operator handles cultivation, labour, inputs, harvesting and sales.

If the project generates a surplus and the investment agreement provides for a distribution of proceeds, the investor may receive income without directly managing the farm.

However, the economic risks remain.

Weather, disease, livestock mortality, input costs, market prices, theft, poor management and unexpected expenses can all affect returns. Therefore, claims such as ‘guaranteed harvests’, ‘risk-free farming’ or ‘fixed returns regardless of production’ should be treated with caution.

Verify ownership first

Before transferring funds, investors should establish exactly what they are buying.

Does the investment give them ownership of part of the farm, livestock, crops or agricultural equipment? Is it a leasehold interest, shares in a company, a contractual right to a percentage of farm proceeds or simply a promise of future repayment?

These structures are significantly different.

A glossy brochure showing hectares of farmland does not establish ownership. Investors should request the relevant contracts, corporate records, land documents and other evidence needed to establish their legal and financial interest.

If the arrangement falls within Nigeria’s capital-market regulatory framework, investors should also verify the operator’s regulatory status. The Securities and Exchange Commission provides an online facility for checking registered operators before committing funds.

Evaluate ‘projected yield’

One of the most attractive parts of an agricultural investment proposal is often the projected return. However, a projected yield is only an estimate, not proof of performance.

Rather than focusing solely on potential earnings, investors should examine the operator’s historical records.

Ask for previous production figures, harvest volumes, sales records and verified investor payout history. If an operator has completed five production cycles, its performance across those cycles may provide more useful information than the projected return for the sixth.

Past failures should also be examined.

A credible operator should be able to explain how it handled crop losses, disease outbreaks, falling commodity prices and other setbacks.

Insurance: A non-negotiable requirement

Agricultural businesses face risks that are different from those associated with many other investments.

Crops can be affected by floods, drought, windstorms, pests and disease. Livestock can suffer losses through disease, accidents, fire and other hazards.

The National Agricultural Insurance Commission (NAIC) lists agricultural insurance products covering crops, livestock, farm property and other assets.

However, simply being told that a project is insured is not enough.

Investors should establish who is insured, what risks are covered, the exclusions, the sum insured, who receives claim payments and who bears losses that exceed the insurance coverage.

For livestock insurance, the process can include farm inspection, premium payment and policy issuance. Investors should request a copy of the actual policy rather than relying solely on verbal assurances from an operator.

Assess who bears the risk

One of the most important questions is: Who takes the loss if things go wrong?

If a farm produces 30 per cent less than projected, the investment agreement should make clear who bears the financial impact.

The same applies if market prices collapse, disease destroys a production cycle, the harvest cannot be sold or the management company becomes insolvent.

A professionally structured investment agreement should define these responsibilities before an investor commits funds.

The turnkey agricultural investment checklist

Before committing capital, an urban investor must ensure a precise understanding of the assets owned or the specific contractual rights being

purchased, alongside verified evidence of the operator’s legal identity and regulatory status. This due diligence process includes a thorough review of previous farm performance records and a comprehensive understanding of how returns are calculated, specifically whether they depend on actual harvest volumes or final sales.

Furthermore, examination of relevant insurance policies and specific exclusions, identification of the party bearing production losses, and awareness of withdrawal or exit terms remain essential.

Finally, an understanding of the protocols in place regarding management company failure is required, alongside independent verification of the underlying assets.

If several of these questions cannot be answered clearly, the investment warrants considerably more investigation.

Passive should never mean blind

The attraction of turnkey agriculture is the ability to participate in farming without becoming a full-time farmer.

However, hands-off should never mean uninformed.

Investors may not need to supervise planting, vaccination or harvesting personally, but they still need to monitor the business. Financial statements, production reports, payout history, insurance documents, contracts and operator performance should be reviewed regularly.

The strongest agricultural investment is not necessarily the one promising the highest projected return. It is the one where three fundamental questions have clear answers:

What do I own? Who is responsible for operations? What happens if the business fails?

Agriculture offers significant commercial opportunities, and professionally managed structures can make the sector more accessible to people outside traditional farming.

But ‘passive’ describes the investor’s level of operational involvement. It does not eliminate financial risk or the need for due diligence.

In agriculture, as with every other investment, risk remains. The critical task is understanding who carries that risk.

FAQs

What specific risks does agricultural insurance cover?

Coverage depends on the policy. NAIC lists crop risks including fire, lightning, windstorm, flood, drought, pests and diseases. Livestock policies can cover specified risks such as disease, accidents, fire, lightning, storms and floods. Investors should examine the actual policy rather than assume every agricultural risk is covered.

Do agricultural franchise companies guarantee fixed returns regardless of harvest outcomes?

Investors should not assume that a genuine agricultural business can guarantee returns simply because a fixed percentage appears in its marketing materials. Determine whether payments are contractual, profit-dependent, harvest-dependent or subject to other conditions. Promises of unusually high or guaranteed returns should trigger additional due diligence.

How can an urban investor legally secure ownership in a rural agricultural project?

The answer depends on the investment structure. Investors should receive appropriate contracts and documentation establishing the ownership, lease, shareholding or economic interest being purchased.

Where an arrangement constitutes a regulated investment activity, the operator’s regulatory status should also be independently verified through the appropriate authority. The SEC provides a searchable register of registered operators in Nigeria.

Is agricultural investment really passive income?

It can be relatively hands-off, but it is not inherently passive or guaranteed. The investor delegates day-to-day farming activities to an operator but remains exposed to the commercial performance of the underlying agricultural business.

A useful distinction is passive management, not passive risk.

The House of Representatives Ad hoc Committee investigating the purported Presidential Foreign Intervention Promotion Council (PFIPC) has established preliminary evidence of financial and criminal activities allegedly linked to its detained Director-General, Prince Adeniyi Adeyemi, while uncovering a network of additional organisations and bank accounts.

Chairman of the committee, Honourable Yusuf Gagdi, disclosed this while presenting the panel’s preliminary findings on the investigation into the circumstances surrounding the inclusion of the purported organisation in the Federal Budget Framework to Parliamentary Correspondents in Abuja.

Gagdi said the committee’s findings indicated that the PFIPC was never lawfully established, as it found no Act of the National Assembly, gazetted enactment, Presidential Executive Order or other lawful instrument creating the council.

While noting that the documentary materials used to project its existence and authority contain substantial evidence of fabrication, forgery, mutilation, impersonation and unauthorised representation of institutions and public officers of the Federal Government, the committee urged relevant government agencies to ensure that ‘no appropriation, administrative code, warrant, cash backing, financial release or governmental facility should be processed in favour of the purported organisation.’

It also asked all relevant financial institutions and investigative agencies to preserve all account records, transaction histories, mandates and beneficial ownership information relating to the persons and entities under investigation.

The committee, therefore, considered the allegations sufficiently serious to require the prompt conclusion of criminal and financial investigations. Where sufficient admissible evidence is established, the appropriate agencies should institute criminal proceedings before courts of competent jurisdiction and pursue lawful measures for the tracing, preservation, freezing and recovery of proceeds or assets derived from established unlawful conduct,’ it added.

The committee also stated that it uncovered 12 additional fake agencies.

According to the panel, preliminary financial and investigative evidence linked Prince Adeyemi to a network of approximately 58 bank accounts and more than 30 accounts apparently operated in the names of about nine agencies, companies, foundations or related entities.

The committee chairman alleged that information received from financial and investigative institutions indicated that the Bank Verification Number (BVN) and other identifying details associated with Prince Adeyemi were linked to a substantial network of personal, corporate, organisational and foundation accounts.

The 12 agencies are Confederation of United Nations Youths, FCT Investment Promotion Agency and Public-Private Partnership; FCT Investment Promotion Council and Public-Private Partnership; Foreign Investment Promotion Agency; United Nations Youth Global Agency; United Nations Youth Global Foundation; World United Nations Youth Global Foundation; World Entrepreneurship University Limited; World Enterprise University Limited; FCT Investment Promotion Act; FCT Promotion Agency and Olubadan of Ibadan Foundation.

Stating that the committee has not concluded that every identified account, entity or transaction was unlawful, the lawmaker explained that the committee is reconciling registration records, account mandates, beneficial ownership information, signatories and transaction histories to determine the true nature and control of the identified entities and accounts.

Gagdi said the similarities in the nomenclature, objectives, management structures, signatories and banking relationships of the entities raised concerns over a possible pattern of establishing or deploying organisations to create artificial credibility, solicit funds, obtain official recognition or induce members of the public to part with money.

Of particular concern to the committee is an alleged N400 million transaction involving a company, which alleged that Prince Adeyemi induced it to make payments in four instalments after representing that it would secure a contract for the renovation and furnishing of a purported official residence allocated to him in his claimed capacity as PFIPC’s director-general.

The committee said it was tracing the destinations of the funds, identifying account holders and beneficial owners and determining whether any public officer or other individual participated in, facilitated or benefited from the alleged transaction.

Gagdi said that if established through competent investigative and judicial processes, the allegations could disclose offences, including fraudulent misrepresentation, obtaining money by false pretence, impersonation, conspiracy, forgery and offences relating to the concealment of proceeds of crime.

The committee also found evidence of alleged fabrication of official documents, including a purported presidential appointment letter for Prince Adeyemi, a purported Executive Order and a document presented as an Act of the National Assembly establishing the organisation.

Evidence from the State House, according to Gagdi, established that the purported appointment letter was neither issued nor signed by the Chief of Staff to the President, Honourable Femi Gbajabiamila, while the letterhead and reference number were also inconsistent with official State House correspondence.

The Committee consequently exonerated Gbajabiamila from allegations of authorising, establishing or participating in the activities of the purported Council(s), commending him for what it described as timely interventions after alerts concerning the organisation were brought to his attention.

‘The documentary evidence presently before the committee does not establish that the Chief of Staff authorised, approved, established or participated in the activities of the purported organisation,’ Gagdi said.

Rather, he explained that evidence showed that Gbajabiamila had communicated with relevant security and investigative agencies, including: Nigeria Police Force (NPF), Office of the National Security Adviser (oNSA), Department of State Services (DSS) as well as Economic and Financial Crimes Commission (EFCC), following alerts concerning the activities of the purported organisation.

The committee also exonerated the National Assembly Committees responsible for budget scrutiny from culpability, with its findings indicating that the focus of the investigation should instead be on how an unestablished entity was able to secure apparent recognition and budgetary treatment within the Federal Government’s administrative machinery.

Weak institutions

Gagdi said the investigation exposed critical institutional weaknesses in the verification of the legal existence of government agencies, creation of administrative and budget codes, authentication of official correspondence, allocation of government accommodation and processing of official-looking vehicle number plates.

He argued that the purported council was able to reinforce its claim to governmental legitimacy by occupying office accommodation within the Federal Secretariat Complex, operating a website that portrayed it as a federal institution and allegedly using the names, offices and photographs of President Bola Tinubu and other senior government officials without their authorisation.

The committee further found that 39 persons were represented as employees of the purported organisation and is investigating their recruitment, appointment letters, identity cards, remuneration and allegations that some persons were required to make payments as a condition for employment.

It commended the NPF, DSS, EFCC, ICPC and ONSA for their contributions to tracing the fabricated documents, associated entities, financial accounts and transactions, urging the agencies to conclude their investigations and prosecute anyone against whom sufficient admissible evidence is established.

Recommendations

Among the Ad hoc Committee’s preliminary recommendations is that all Ministries, Departments and Agencies (MDAs) should refrain from recognising, transacting with or extending government privileges to the PFIPC or any related manifestation whose legal status has not been independently verified.

It also recommended that no appropriation, administrative code, warrant, cash backing, financial release or government facility should be processed in favour of the purported organisation, while all relevant financial, documentary and electronic evidence should be preserved.

The lawmakers further recommended enhanced authentication procedures for new institutions, administrative and budget codes, as well as correspondence purportedly emanating from the Presidency and other high offices of government.

The committee proposed the establishment or strengthening of a secure and centralised digital verification platform through which the lawful existence, establishing instrument and status of every Federal Government institution could be independently authenticated.

It recommended that the alleged N400 million transaction be subjected to a separate and comprehensive investigation and that lawful measures be taken to trace, preserve, freeze and recover proceeds of any established unlawful activity, subject to judicial authorisation where required.

Gagdi said the committee would continue to investigate the ownership and control of the identified accounts, the alleged N400 million transaction, the purported official residence, special number plates, unauthorised occupation of government accommodation and the roles of public officers and private individuals connected with the matter.