Category: The Nation – Nigeria

Senator Benson Agadaga (Bayelsa East) on Wednesday announced his resignation from the Peoples Democratic Party (PDP) and pitched tent with the All Progressives Congress (APC).

He blamed internal wrangling and a collapse of discipline and unity within the party for his actions.

In a letter read by Senate President Godswill Akpabio, the Senator said his defection marked ‘a time for change’ in his political journey, describing the PDP as a party that had lost its cohesion and purpose.

‘This is a notice of my defection from the PDP to the All Progressive Congress. The Bible says that there is a time for everything,’ he said.

He recalled his long service to Bayelsa State under several administrations, including his roles as Commissioner for Information, Culture and Tourism; Executive Chairman of the Bayelsa State Universal Basic Education Board; Special Adviser on Establishment Affairs; and Chief of Staff to the state government.

He expressed gratitude to the PDP for the opportunities it provided him to serve, acknowledging that his rise to the Senate was made possible by the party and its former leadership.

‘The fact that I stand today as a distinguished senator of the Federal Republic of Nigeria is due to the benevolence of the Peoples Democratic Party when it was intact and the goodwill of numerous well-wishers,’ he stated.

However, he lamented that the party had degenerated into chaos.

‘It is most astonishing and deeply disheartening to observe that the world’s proud and largest political party in Africa has been torn into shreds due to internal wrangling,’ he said.

‘The centre can no longer hold. The umbrella has been bastardised, and the umbrella is leaking profusely.’

He further criticised what he called ‘the incongruousness of the opposition in political diplomacy’ within the PDP, noting that consultations across political divides led him to his decision.

‘I have finally arrived at the inevitable conclusion that addressing progressivism, thinking progressively, and acting progressively is the only way to renew hope for all united Nigerians,’ he said.

‘I am therefore constrained to formally declare my resignation from the Peoples Democratic Party.’

He announced his defection to the All Progressives Congress (APC), saying, ‘I declare my resignation to the All Progressives Congress from today, the 29th of October, 2025.’

It is crucial to start this by acknowledging the importance of Dangote Refinery as a turning point in Nigeria’s oil and gas downstream sector. For nearly 40 years, the country has relied on imports to meet its energy needs, even though Nigeria is a major crude oil producer and the government has built three refineries.

This situation has caused a lot of contention for the country, including the introduction of fuel subsidies to provide a cushion for impoverished citizens in the country at the mercy of international markets.

The completion of the $20 billion Dangote Refinery is a monumental achievement. With a projected capacity of 650,000 barrels per day, it is the largest single-train refinery in the world and a symbol of industrial ambition with the potential to change the lives of Nigerians for the better or worse.

The Dangote Refinery can become a catalyst for healthy competition, accelerating the development of the downstream sector, or a monopolistic force that stifles competition, dictates prices, and undermines the broader goals of economic inclusion. The direction the refinery takes will be decided by the actions of Nigeria’s regulatory agencies.

The Promise and the Peril

The Dangote Refinery promises to transform Nigeria’s energy landscape. We can already see the added benefits of local production in the stabilisation of the naira against the dollar as the country saves billions in foreign exchange and reduces its reliance on imported refined petroleum products. But, there have also been concerns about how the Dangote Refinery, which, despite its scale, intends to achieve vertical integration, will stay profitable without artificial market dominance.

Moves made in the company’s first year of operations suggest the Dangote Refinery is looking to replicate its attempts at a forced monopoly in other sectors in the downstream oil and gas sector. The refinery has already sought to disrupt the complex logistical network that ensures petroleum reaches final consumers by introducing a ‘free’ delivery service targeting major retailers, in a bid to incentivise them to ditch their long-term relationships with importers and depots and to buy products exclusively from the refinery. Industry stakeholders have condemned this move as predatory.

The Dangote Refinery has also been accused of abruptly lowering ex-depot petroleum prices and bearing the cost differential to undercut importers who cannot bear the losses incurred by this tactic. Already, many major importers and depots have been forced to shutter their businesses or risk bankruptcy. When challenged on the integrity of its tactics, the Dangote Refinery has defended its actions as healthy market competition.

A monopoly, even one born from private investment and innovation, can distort markets. It can lead to price manipulation, limit consumer choice, and create barriers for new entrants. In the absence of robust regulatory oversight, the very infrastructure meant to empower the economy could end up concentrating power in the hands of a few.

The Mandate of Regulators

Nigeria’s regulatory bodies, particularly the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Federal Competition and Consumer Protection Commission (FCCPC), and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), have a constitutional and moral obligation to safeguard the principles of fair competition.

It is their responsibility to ensure transparency in all business practices, monitor market behaviour and intervene when predatory actions are taken against competitors or consumers, even when they are ‘legal’. They must also enforce anti-trust laws and deter larger corporations from engaging in anti-competitive practices that marginalise smaller marketers. But most importantly, it is their responsibility to provide a favourable environment for new entrants into the downstream sector, and by doing so, ensure the energy sector remains resilient and dynamic.

The Dangote Group is only as big and successful as it is today because regulatory agencies ensured indigenous entrepreneurs were protected from monopolistic manoeuvres from international competitors. The same consideration must now be extended to other players in the energy sector to balance industrial ambition and market fairness. The Dangote Refinery represents a significant advancement towards self-sufficiency, but that doesn’t exempt it from the same standards of accountability that any other market participant must adhere to.

A Delicate Balance

Nigeria stands at a crossroads. The emergence of the Dangote Refinery offers a rare opportunity to redefine the country’s energy future. The refinery may be privately owned, but the market it operates in belongs to the people.

The future of the energy sector is the responsibility of the agencies tasked with ensuring that Nigerians reap the benefits of deregulation and that companies maximise the opportunities a free market offers Nigerian entrepreneurs. If local regulators rise to the occasion, they can ensure that this refinery becomes a cornerstone of shared prosperity, not a symbol of concentrated power.

The Final Award in the arbitration initiated by General Hydrocarbons Limited against First Bank of Nigeria Limited, issued by Sole Arbitrator Hon. Justice Kumai Bayang Akaahs, was published today the 28th, October 2025,

General Hydrocarbons Limited (GHL) was represented by Messrs. Paul Usoro SAN and and Abiodun Layonu SAN. First Bank of Nigeria Limited (FBN) was also represented by Messrs Gbolahan. Elias, SAN; Babajide Koku, SAN and Victor Ogude, SAN.

The Tribunal dismissed GHL’s case in its entirety, affirming FBN’s financing obligations as conditional, finding no breach or entitlement to damages by GHL, and ordering GHL to bear the costs of arbitration.

The dispute arose from the Subrogation Agreement dated May 29, 2021, under which GHL undertook the repayment of an outstanding debt of $718 million and FBN undertook to provide additional loans to finance the development and production of OML 120 in line with the provisions of the Subrogation Agreement.

GHL alleged that FBN breached the agreement by failing to provide absolute and timely financing, sabotaging alternative funding efforts, and causing losses including liabilities to third party and leading to loss of productive time in the development of OML 120.

FBN argued its financing obligation was conditional and not absolute but subject to review and professional discretion in line with banking policies and regulatory guidelines.

The key Findings of the Tribunal are as follows:

1. FBN has a conditional, not absolute, obligation to finance OML 120 development. It must review and evaluate financing requests and may attach competitive terms as deemed suitable.

2. GHL failed to prove any breach by FBN. FBN made several financing offers totaling $185 million, and delays alleged by GHL were not found unreasonable or in breach.

3. Introduction of an Independent Asset Manager as a financing condition by FBN was consistent with the agreement and not a breach.

4. Allegations of FBN sabotaging alternative financing arrangements were unsubstantiated and dismissed for being devoid of any merit.

5. All reliefs sought by GHL, including declarations, damages for unpaid contractor fees, losses, and termination of the Subrogation Agreement, were refused.

6. FBN was adjudged entitled to recover reasonable legal and arbitration costs from GHL, amounting to $112,100 and N111,250,000, payable within 30 days with interest on late payment.

Stakeholders in the education sector have urged teachers in the country to embrace artificial intelligence (AI) for future-ready education system.

They made the call during the Train the Trainer-Teacher’s summit 2025 at the weekend in Abuja.

Speaking at the summit, gender advocate, Hansatu Adegbite, underscored the need for teachers to integrate technology into their teaching practices to maintain relevance in a rapidly evolving educational landscape.

She noted that the future of education depended on how effectively educators adapt to technological advancements and leverage them to enhance learning outcomes.

The keynote speaker noted that AI tools can help teachers personalise instruction, automate administrative tasks, and foster creativity among students, thereby creating a more engaging and efficient learning environment.

Adegbite, who is also the Executive Director, Women in Management, Business and Public Service (WIMBIZ), urged teachers to view AI not as a threat but as an enabler that can empower them to deliver better results.

Speaking on the theme, ‘Deconstruct the old, define the new’, the gender advocate challenged educators to rethink traditional teaching methods and embrace innovative strategies that align with the realities of the digital age.

She highlighted the critical role of AI and technology in the future of education and the need for teachers to learn and adapt to these changes.

She noted that deconstructing old models of education does not mean discarding foundational values but rather reimagining how those values can be expressed through modern tools and approaches.

The Convener, Train the Trainer Teachers Summit, Dr Onyekachi Onwudike-Jumbo noted the collective responsibility of teachers, parents, and schools in educating children.

She emphasised the importance of a standardised education system that provides equal opportunities for all students.

Onwudike-Jumbo encouraged participants to take action and collaborate to improve the educational system.

Executive Secretary of the Universal Basic Education Commission (UBEC), Aisha Garba underscored the need for educators to leave a lasting impact and celebrates the ongoing efforts to improve education.

Represented by the Director, Social Mobilisation, UBEC, Dr. Ossom Ossom, the executive secretary highlighted ongoing reforms introduced by the commission, including sharing best practices, and empowering teachers to improve learning outcomes.

She announced plans to train 875,000 teachers and introduce digital pedagogy in learning environments.

‘This initiative aims to equip teachers with the necessary skills to enhance classroom learning and ensure they can add value to the educational process,’ the executive secretary added.

Students of tertiary institutions in Anambra State have declared their support for the re-election bid of Governor Chukwuma Charles Soludo ahead of the November 8 governorship election.

The students, under the auspices of the National Union of Anambra State Students (NUASS), made their position known during a colloquium in honour of Governor Soludo held at the ASUU Secretariat, Nnamdi Azikiwe University, Awka.

Speaking on behalf of the student body, NUASS President, Comrade Felix Nwachinaemelu, said Soludo’s focus on youth inclusion, skill acquisition, and innovation has inspired students across the state to believe more in governance and their own role in shaping Anambra’s future.

He praised the governor’s visionary leadership and enduring impact on innovation and youth empowerment, commending his people-oriented policies and pledging the union’s support for his re-election bid.

The Managing Director and Chief Executive Officer of the Anambra State ICT Agency, Mr Fred Agbata, commended the students for rallying behind the governor’s second-term ambition, describing Soludo as a visionary leader who has redefined governance through innovation and technology.

Delivering a keynote address on the theme: ‘Rethinking Developmental Governance: The Philosophy of Prof. Charles Chukwuma Soludo,’ Agbata highlighted the governor’s transformative strides anchored on a philosoph Students of tertiary institutions in Anambra State have declared their support for the re-election bid of Governor Chukwuma Charles Soludo ahead of the November 8 governorship election.

The Super Falcons have booked their place at next year’s Women’s Africa Cup of Nations (WAFCON) after a 1-1 draw against Benin Republic on Tuesday, completing a 3-1 aggregate victory over the Amazons to secure qualification.

The return leg, played at the MKO Abiola Stadium in Abeokuta, saw the Falcons fail to replicate their dominant first-leg display in Cotonou, where they had triumphed 2-0.

Nevertheless, coach Justin Madugu, praised his players’ resilience while admitting that the performance fell short of expectations.

‘It didn’t come as much of a surprise. We knew it was going to be a tough game,’ Madugu said during the post-match press conference.

‘I want to apologise to Nigerians for not meeting their expectations, sometimes, teams zave off days, today was one of those, the girls gave their best, and while the result wasn’t ideal, we are taking it as a wake-up call that there’s still a lot of work to do.’

The coach, who confirmed he has signed a two-year contract with the Nigeria Football Federation (NFF) running until October 2027, emphasised that the focus now shifts to preparing the team for the 2027 FIFA Women’s World Cup in Brazil.

‘The last World Cup is behind us. Now, as African champions, every team wants to beat us. That means we must double our efforts and keep improving, It’s a new transition phase, and we’ll continue to test players, build depth, and refine our system before the next global tournament,’ he said.

In her own post-match remarks, Captain Rasheedat Ajibade expressed pride qualification and acknowledging that the Super Falcons must maintain focus as stronger in her team’s challenges await.

She said: ‘We weren’t overconfident, we expected Benin to come all out, especially after how they played in the second half of the first leg, today wasn’t our best performance, but we’ll take the lessons and keep improving. We know our standards and must continue pushing ourselves.’

Ajibade, who recently received an individual honour at the Nigerian Pitch Awards, dedicated the recognition to her teammates, coaches, and fans.

‘This award means a lot – not just to me, but to every young girl who dares to dream,’ she said emotionally. ‘I dedicate it to my Super Falcons sisters, my club, the technical staff, and everyone who has supported my journey. To the next generation of girls watching – keep believing, keep working, your dreams are valid.’

For the Benin Republic, the result, though not enough for qualification, was historic. Their head coach, Abdullahi Husseinu, lauded his players’ fighting spirit, describing the draw as a morale booster.

‘We came to Nigeria to win because we always compete to win,’ Husseinu said. ‘Our players showed great character, especially in the second half. Most of them are very young – some are under-17 and under-20 – and this experience will make them stronger. The future is bright for Beninese women’s football.’

He added a personal touch, revealing his emotional connection to Nigeria, where he ended his professional playing career with Sunshine Stars a decade ago.

‘Playing here brought back special memories for me,’ he said tearfully. ‘Nigeria will always have a special place in my heart.’

With the qualification secured, the Super Falcons will now shift focus to preparations for both the 2026 WAFCON tournament and the 2027 FIFA Women’s World Cup, as they continue to rebuild under Coach Madugu’s leadership and maintain their dominance as Africa’s most successful women’s football team.

Digital banking platform, PalmPay, has identified collaboration as a crucial element in defeating the menace of cybercrimes as digital banking takes a strong foothold across the country.

Its Managing Director, Mr Chika Reginald Nwosu, who spoke when the firm supported the Nigeria Police Force National Cybercrime Centre (NPF-NCCC) during its Cybersecurity Awareness Walk held in Abuja as part of activities marking the 2025 Cybersecurity Awareness Month, pledged the continued support of the firm to the initiatives of NPF-NCCC.

Nwosu commended the NPF-NCCC for its efforts in combating cybercrime and protecting consumers. He emphasised the need for continued collaboration across sectors to build a safe and secure payment ecosystem for all Nigerians.

‘We commend the NPF-NCCC for its proactive leadership in driving cybersecurity awareness. At PalmPay, we are committed to supporting initiatives that promote digital safety and foster trust in Nigeria’s growing digital economy,’ he said.

With: ‘Secure Our World,’ as the theme, the event brought together key stakeholders from law enforcement, regulatory bodies, and the private sector to promote public awareness on cybersecurity, financial fraud prevention, and safe online practices.

PalmPay used the opportunity to join other participants in advocating for stronger public vigilance and safer digital engagement, reaffirming its commitment to supporting national efforts that enhance cybersecurity and consumer protection.

At the event, PalmPay was commended for its outstanding efforts in strengthening regulatory engagement and advancing consumer protection initiatives across the fintech industry.

The partnership underscores PalmPay’s ongoing commitment to promoting cybersecurity awareness, consumer protection, and fraud prevention as part of its mission to create a safer digital financial ecosystem in Nigeria.

PalmPay is a leading digital banking platform driving financial inclusion and economic empowerment in underserved emerging markets. Through its secure, user-friendly, and inclusive suite of financial services, PalmPay empowers individuals and businesses with tools to manage and grow their money.

PalmPay offers a comprehensive range of products, including mobile payments, savings, and micro-insurance via its app and mobile money agent network.

Bank of Industry (BoI) has identified limited access to finance and lack of technical capacity as the biggest challenges preventing Nigerian Micro, Small and Medium Enterprises (MSMEs) from adopting Environmental, Social and Governance (ESG) practices – a global standard increasingly shaping investment and sustainability trends.

This was revealed in the bank’s new report titled: ‘Environmental, Social and Governance (ESG) Adoption by Nigerian MSMEs’, launched yesterday in Lagos at the BoI’s inaugural ESG Conference which had: ‘Advancing ESG Adoption’ as theme.

According to the report, 78 per cent of MSMEs surveyed cited financial constraints as the major barrier to ESG adoption, while 65 per cent highlighted lack of technical expertise. Other challenges include limited policy-linked incentives (65 per cent), inadequate knowledge (45 per cent), and low customer demand (20 per cent).

The nationwide survey captured over 300 valid responses from MSMEs across the six geopolitical zones, covering key sectors such as agro-processing, ICT, manufacturing, creative industries, hospitality, healthcare, construction and financial services.

Speaking at the event, BoI’s Managing Director and Chief Executive Officer, Dr. Olasupo Olusi, said MSMEs remain critical to the economy, accounting for over 80 per cent of businesses, contributing nearly half of the GDP, and employing millions of people.

‘Many still face barriers in understanding what ESG means in practice and how to embed the principles in their daily operations. These barriers make enterprises more vulnerable, less competitive, and less future-ready,’ Olusi said.

He explained that BoI is working to bridge these gaps by equipping MSMEs with the tools and financing needed to operate sustainably and competitively in a changing global economy.

‘Our goal is to help MSMEs grow, compete and prosper sustainably and profitably. ESG principles will help us align our industrial ambitions with national and global climate goals, while enabling us to attract green capital, spur innovation and build industries that can compete globally,’ he added.

Olusi noted that the report aligns with Nigeria’s international commitments under the Paris Agreement, Nationally Determined Contributions (NDCs) and the Energy Transition Plan (ETP), particularly in achieving the country’s 47 per cent conditional emission reduction target by 2030.

He said that embracing ESG practices would enhance MSMEs’ access to finance, as global investors and development finance institutions (DFIs) increasingly prioritise sustainability-linked projects.

‘ESG adoption will improve access to finance, help businesses manage risks, reduce costs, attract talent, and comply with emerging global standards,’ Olusi said.

The report recommended targeted financing instruments, capacity-building programmes, and gender-focused ESG credit schemes to close adoption gaps. It also called for the development of ESG-compliant loan products, regional hubs for technical training, and blended finance models to expand access to sustainable capital.

Delivering the keynote, Director-General, National Council on Climate Change (NCCC), Dr. Tenioye Majekodunmi, said climate realities and changing investor expectations are reshaping global business environments.

‘The transition to a low-carbon future will profoundly affect how businesses compete, attract finance and build resilience. Global investors are redirecting trillions of dollars towards sustainable assets, while consumers now demand transparency and ethical sourcing,’ she said.

Majekodunmi stressed that for MSMEs in the country, adopting ESG principles is no longer optional but strategic.

‘Enterprises that adapt early by embedding ESG principles into their operations will become the preferred partners for global trade and finance,’ she noted, describing BOI’s ESG framework as ‘a blueprint for directing finance towards inclusive and responsible industrial growth.’

Deputy Country Director of Agence Française de Développement (AFD), Mahamadou Diarra, commended BoI’s leadership in promoting responsible and sustainable financing within Nigeria’s financial ecosystem.

‘BoI’s proactive steps will position it as a trusted partner for international financiers,’ Global development partners, including the World Bank and Asian Development Bank, are harmonising ESG frameworks and due diligence standards,’ Diarra said.

He reaffirmed AFD’s commitment to supporting the BoI in strengthening its ESG management systems and promoting climate-linked investments nationwide.

‘As a key development partner, AFD places great emphasis on ensuring that institutions it supports maintain the same level of environmental and social diligence required in its own operations,’ he added.

With the launch of the ESG report, stakeholders say BoI has positioned itself at the centre of the nation’s sustainable industrialisation drive. Those at the event agreed that integrating ESG principles into MSME operations will not only boost competitiveness but also ensure Nigerian businesses remain viable in an economy increasingly defined by sustainability, accountability, and global market alignment.

The Chairman of the Independent National Electoral Commission (INEC), Prof. Joash Amupitan, yesterday warned that any attempt to induce voters before or during the November 8 governorship election in Anambra State would be resisted and curtailed.

Speaking at the first consultative meeting with members of the Inter-Agency Consultative Committee on Election Security (ICCES), Amupitan urged Nigerians-especially political actors-to unite in combating the menace of vote buying as a way of restoring integrity to the electoral process.

He said the commission was working closely with relevant law enforcement agencies, particularly the anti-graft agencies, to stop vote buyers from contaminating the electoral process.

‘Security agents cannot afford to create an environment that allows vote buyers to operate during the Anambra election,’ he said.

‘Together, let us combat vote buying, uphold the values of democracy, and work relentlessly for the credibility of our elections. The path ahead may be challenging, but if we stand united, there is nothing we cannot achieve.’

The INEC boss said that following a week-long comprehensive readiness assessment conducted across Anambra State, the commission was confident of its full preparedness for the polls.

According to him, INEC recently conducted a mock accreditation exercise in 12 selected polling units across six local government areas of the state, using the Bimodal Voter Accreditation System (BVAS) to test-run its facilities and readiness.

The management of Transcorp Hilton Abuja on Tuesday hosted leading media executives to an evening of networking and appreciation, reaffirming its commitment to sustaining a strong and mutually beneficial relationship with the media.

The event, themed ‘Media Cocktail Reception,’ brought together prominent journalists, senior editors, and members of the Nigeria Union of Journalists (NUJ), FCT Council, led by its Chairman, Comrade Grace Ike.

In his welcome address, the General Manager of Transcorp Hilton Abuja, Mr. Zarybnicky, expressed deep appreciation to the media for their consistent support over the years through reportage and positive coverage.

He described his experience in Nigeria since assuming duty in August as ‘remarkable and deeply rewarding,’ commending Nigerians for their warmth, hospitality, and continued patronage of the hotel.

‘This is definitely the leading hotel in Africa, and we are very proud of this brand. For over thirty years, Transcorp Hilton has been the pride of Abuja,’ he said.

‘In just three months in Nigeria, I have found this country amazing – the people’s sense of humor, the food, and the culture. We at Hilton appreciate everyone and look forward to deepening our relationship with the media,’ he added.

Mr. Zarybnicky reaffirmed the hotel’s commitment to maintaining an open and collaborative relationship with the media, emphasizing that such partnerships are vital to growth and innovation in the hospitality sector.

He assured that the doors of Transcorp Hilton Abuja ‘will always remain open to the media for enquiries, engagement, and partnership opportunities that highlight the hotel’s exceptional services.’

During the event, the Communications and Marketing Manager, Mrs. Ijeoma Osuji, made a brief presentation showcasing the hotel’s innovative hospitality offerings and corporate social responsibility (CSR) initiatives.

According to her, in 2025 alone, the hotel recycled over 15,000 kilograms of waste through eco-friendly processes and supported hundreds of individuals, including persons living with disabilities, through its CSR projects.

Among the dignitaries in attendance were the Immediate Past President of the NUJ, Comrade (Chief) Chris Isiguzo, MFR; Deputy Managing Director of Arise News, Mr. Bayo Awosemo; NUJ FCT Council Chairman, Comrade Grace Ike; Council Secretary, Comrade Sandra Udeike; and Council Auditor, Mrs. Rosemary Ukoko-Tega, among others.

Recognised as one of sub-Saharan Africa’s leading five-star hotels, Transcorp Hilton Abuja boasts 670 luxury rooms, eight restaurants and bars, a 670-capacity event hall, and extensive recreational facilities, including a casino, golf course, tennis courts, and a health club.

As a premier destination for business, leisure, and international diplomacy, the hotel continues to serve as a landmark venue, hosting heads of state, global conferences, and distinguished guests from across the world.

Those present from the hotel’s management team included the General Manager, Mr. Martin Zarybnicky; Communications and Marketing Manager, Mrs. Ijeoma Osuji; Hotel Manager, Mr. Mohamed Said Khalil; Commercial Director, Mrs. Betty Aguiyi-Ironsi; Brand and Marketing Manager, Mr. Ifeanyi Nnadi; and Director of Sales, Mr. Ekun Daniel Friday.