Petrol Sells at N1,065 in Abuja, N998 in Lagos After NNPC-Dangote Deal Collapse

NNPC Limited retail stations and independent outlets started selling petrol as high as N1,065 per litre in Abuja, and N998 in Lagos among other new prices across Nigerian states, on Wednesday.

This price hike came after NNPCL ended its exclusive purchase deal with the Dangote Refinery, 

The decision to set these new prices was reached through a joint review between NNPCL and independent fuel marketers.

Prior to this, Premium Times had revealed  that NNPCL quit its exclusive supply deal with Dangote, paving the way for marketers to negotiate prices directly with the refinery.

The quoted prices are between N1,030 and N1,065 per litre in Abuja, N998 at NNPCL stations in Lagos, N1,025 in other southwest states, between N1,060 and N1,070 in northeastern states, and between N1,055 and N1,075 south-south states.

Since the Dangote Refinery began operations in May, its relationship with NNPCL has been rocky. According to Aliko Dangote, CEO of Dangote Group, NNPCL lost it's 20% stake in the refinery after failing to meet financial obligations.

NNPCL later claimed it intentionally reduced its stake based on internal assessments.

There has also been some back-and-forth over petrol pricing. Dangote Group initially  stated that NNPCL had full authority to set prices, but it retracted that statement.

The regulator quickly clarified that, in a deregulated market, prices are dictated by market forces, not NNPCL.

In July, the Federal Executive Council (FEC) stepped in directing both parties to resolve their differences.

By September, NNPCL estimated that petrol prices would be N950.22 in Lagos and N992.22 in Abuja based on its negotiations with the refinery.

“The estimated prices are based on negotiated terms between NNPC Ltd. and Dangote Refinery, which recognise current international gasoline prices and the prevailing foreign exchange rate in line with the provisions of the Petroleum Industry Act (PIA) 2021,” NNPCL said at the time.

“NNPC Ltd. can confirm that it is paying Dangote Refinery in US [dollars] for September 2024 PMS offtake, as naira transactions will only commence on October 1st, 2024. We reassure Nigerians that any discount from the Dangote Refinery will be passed on 100% to the general public.”

NNPCL began lifting petrol from Dangote Refinery on September 15, and the breakdown of their exclusive agreement has now influenced the latest price review.

Fidelity Bank improves ease of Revenue Collection with Tax Booths

As part of initiatives towards increasing efficiency in revenue collection in Anambra State, leading financial institution, Fidelity Bank Plc, has donated 10 units of tax booths to the Anambra State Internal Revenue Service (AIRS).

Commenting on the donation, the Regional Bank Head, Awka, Fidelity Bank Plc, Dr. Nosa Orumwense, explained that the donation is borne out of the bank’s devotion to creating solutions for its customers.

“For nearly four decades, Fidelity Bank has been dedicated to meeting the banking needs of Nigerians with customized solutions. Whether through thoughtfully designed products or exceptional services, we have established ourselves as the preferred bank for individuals looking to grow, businesses interested in prospering and economies that want to prosper.

“Today’s donation to AIRS is a first-of-its-kind initiative in Nigeria and would go a long way in smoothening the experience with tax payment and collection for individuals and the Anambra State government respectively. We are grateful for the opportunity to partner with the government on this project and commit to do more”, explained Dr. Orumwense.

Named the "Fidelity Bank AIRS Small-Tax Hubs," these booths are customized, secure, and user-friendly self-service terminals designed for efficient banking transactions. They are equipped with both mains and solar power sources to ensure continuous operation, and they connect to the internet for real-time transaction processing.

At the commissioning ceremony, Chairman of Anambra State Internal Revenue Service, Dr. Greg Ezeilo, FCA expressed gratitude for the donation, calling the gesture "a dream come true." An elated Dr Ezeilo praised Fidelity Bank for the groundbreaking support while promising that the hubs would be utilized effectively.

Ranked as one of the best banks in Nigeria, Fidelity Bank is a full-fledged commercial bank with over 8.3 million customers serviced across its 251 business offices in Nigeria and the United Kingdom as well as on digital banking channels.

The bank has won multiple local and international awards including the Export Finance Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, the Best Payment Solution Provider Nigeria 2023 and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards; Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023; and Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.

FG Gives Fresh Alert To Nigeria's On Flood ; Jebba Dam Is Spilling Excess Water

The Federal Government has issued a fresh warning to Nigeria regarding flooding in the country.

A statement by the Director General Nigeria Hydrological Services Agency (NIHSA), Umar Ibrahim Mohammed, informed that Jebba Dam is currently spilling excess water as regulated by Kainji Dam operators, who had kept 53cm buffer until now to allow for any change in inflow.

“NIHSA through the Director Operational Hydrology Pastor Femi Bejide, is working in close contact with the operators of Kainji and Jebba Dams on the management of the reservoirs”

“The rain is gradually shifting to the south, however, there is still some amount of water coming into Nigeria as monitored from our station at Jidere Bode and Kende” he emphasised.

Highlighting the agency’s synergy with the authorities of the Dams both nationally and internationally, he maintained that NIHSA is committed to managing great River flooding incidences to foster socio-economic growth in Nigeria.

Mohammed also revealed that the water level in the River Niger Basin has slowly receded since the beginning of October.

He called on Nigerians to continue to adhere to flood preparedness protocols, reaffirming the agency’s commitment to the overall flood management in Nigeria.

The warning comes following recent reports on the worst flooding incidents in the history of Nigeria, with the capital of Borno State, Maiduguri taking the lead.

Lagos Sex Worker Stabs Client To Death Over Service Fee

A Sex Worker, Joy Kelvin, has allegedly stabbed a 48-Year-Old Man Identified Simply As Okafor to death at the Jakande Housing Estate in the Lekki area of Lagos State.

The Incident was said to have occurred on Monday morning at about 5:30 am.

Report gathered that the late Okafor had brought Joy to his house to spend the night but an argument broke out between them the following morning over payment.

A Police Source who spoke to our correspondent, on the condition of anonymity as he was not allowed to speak on the matter, said the suspect attacked her client with a sharp object which led to his death.

“Okafor brought the sex worker home the night earlier. She demanded her fee when he was leaving in the morning but Okafor did not give her what they agreed. This led to an argument and Joy reached for a sharp object and stabbed him. Okafor became unconscious after the attack and later died.”

Confirming the incident, the state Police Public Relations Officer, Benjamin Hundeyin, said the deceased’s friend lodged the report at the Ilasan Police Division in the area.

He added that a team of police detectives visited the scene, took photographs, and evacuated the corpse to the General Hospital Morgue, Yaba, for autopsy.

He Wrote, “Today, October 7, 2024, at approximately 07:20 hours, a complainant reported at the Ilasan Division that earlier that day at about 05:32 hours, he received a call from a friend stating that Okafor, a 48-year-old male and also his friend, was stabbed in his house at Jakande Housing Estate, Lekki, Lagos, by Joy Kelvin, a female prostitute he had brought home overnight.

“The victim was rushed to the General Hospital, Marina, Lagos, where he was pronounced dead by the doctor on duty. Following the report, detectives from the division promptly visited the scene, took photographs, evacuated the corpse, and deposited it at the General Hospital morgue, Yaba, for preservation and autopsy.”

Hundeyin further stated that the suspect had been arrested while efforts were underway to locate the deceased’s family members. “The investigation is ongoing,” the statement concluded.

Experts, Stakeholders Association React To Baseless and Unfounded Allegations

  

Stakeholders and financial industry experts have reacted to the series of allegations against Guaranty Trust Holding Company (GTCO) Plc. A civic organization, Global Integrity Crusade Network (GICN), had on Friday, September 4, 2024, released a Private Investigative Report signed by its President, Edwin Omaga, alleging a series of “unscrupulous, unethical and criminal activities” against Guaranty Trust Bank Limited, the flagship subsidiary of the GTCO group.

The report, which has been actively circulating in the social media showing the leadership of GICN in a prolonged press conference on the subject matter, highlighted damning allegations of corporate misconduct which many social media followers have strongly commented on.

However, GTCO has refuted the allegations and described the report as false. In a statement made available to THEWILL by the group’s head of corporate communications, Charles Eremi, the foremost financial services group said GICN set out to create a false narrative about the GTCO brand and its management.

“Being a responsible corporate citizen and a first-class institution, GTCO Plc has taken swift and decisive legal actions against the various sources of these false reports,” the statement read, adding “We will continue to use the full extent of the rule of law available to safeguard our reputation.”

“Based on the incessant release of false news reports on GTCO’s business activities, Results and its Management Team, it has become necessary to set the records straight and dispel attempts by certain groups to create a false narrative about the GTCO Brand and its Management.

“The false news articles which are being sponsored using the media, center around baseless allegations against the Group’s business activities and its Executive Management.

“We urge all our Customers, Shareholders and Stakeholders to kindly disregard all the allegations being peddled through various media platforms and handles. All of our Executive Management team continue to operate in their full capacities as appointed, and are not under any financial or regulatory scrutiny as alleged,” the statement reads.

An investment expert and chairman, Trusted Shareholders Association of Nigeria, Alhaji Mukhtar Mukhtar condemned the development as a calculated attempt by the GICN group to pull down one of Nigeria’s major financial services institutions.

In a telephone chat with THEWILL Mukhtar lamented over the deliberate efforts of some people to pull down an institution like GT Bank without considering the consequences – loss of employment, negative impact on investors’ assets and depositors’ funds as well as the support to the economy through granting loans and advances to customers.

“GT Bank is one of the strongest new generation banks. It has been making profits over the years and paying dividends to the shareholders, providing employment to Nigerians and giving value to investors. Much as I would not condone wrongdoing, I do not believe that a reputable institution would descend so low to dabble in such wrongdoings it is being accused of,” he said.

He added: “There are better ways of approaching a matter like this, such as petitioning the various regulatory bodies instead of coming to the media to malign a reputable institution like GT Bank.”

National Co-ordinator, Progressive Shareholders Association of Nigeria, Boniface Okezie, lambasted the accusing group for wrongfully playing the role of the regulator. He noted that banking is a highly regulated sector and that no such misdemeanor could happen in a financial services institution without being detected.

“I watched the press conference online. I do not believe the allegations. Who is the group making the allegation? Are they the regulators of the industry? You don’t call a press conference to malign an institution. It is uncalled for; I do not believe in the rumours being spread by those people and I urge the public not to believe them, either.

“The CBN is there, the NDIC, the Financial Reporting Council – are all there. If a customer has a complaint, he knows where to take it to. And that will be resolved. GT Bank is a strategic and important institution in the financial services industry and should not be maligned for any reason,” Okezie told THEWILL by telephone.

In his reaction, Dr Paul Uzum, a stockbroker and investment expert urged Nigerians to dispel the rumour being spread against GT Bank. He told THEWILL via telephone that GT Bank is a very strong and strategic bank that cannot be associated with the allegations being peddled by the accusing group.

He said, ‘GT Bank is one of the strategically cut-out banks. If anything happens to GT Bank, the market is gone because we do not have many of its kind in the industry. How many companies do we have like that? They are one of the flagships in the market and cannot be pushed over in terms of performance and corporate governance. The story must have been sponsored by an aggrieved party, but that is not the right way to go about it.”

Sam Ndata, an investment expert and Doyen of the Stockbrokers urged Nigerians and others not to rush into believing the allegations without proof because that would be injurious to the corporate image of GT Bank

GTCO reported an impressive result in its H1 2024 performance. It posted a profit before tax of N1.004 trillion, becoming the first Nigerian financial institution to cross the N1trillion mark in profit. This milestone figure represents an increase of 206.6% over N327.4billion recorded in the corresponding period ended June 2023.

The Group’s loan book (net) Increased by 25.5% from N8trillion recorded as at December 2023 to N3.11trillion in June 2024, while deposit liabilities grew by 39.8% from N7.55trillion in December 2023 to N10.55trillion in June 2024.

Iremide Ogunyemi Wins Fidelity Bank's 'Read2Lead' Writing Competition

A student of The Ambassadors’ College, Ota, Ogun State, Miss Iremide Ogunyemi, has won N2 million cash, a publishing deal worth N2 million and another N2 million to upgrade her school’s library after emerging the star prize winner of the inaugural edition of the Fidelity Bank organized Read2Lead writing competition. This was disclosed at the competition’s prize presentation event held in Lagos over the weekend.

Welcoming guests to the event, Mrs. Pamela Shodipo, the Executive Director of South Directorate, Fidelity Bank Plc, who represented Dr. Nneka Onyeali-Ikpe,OON, the bank’s Managing Director/Chief Executive Officer, said the initiative was created to unlock the creative potentials of students and help them become better positioned for successful careers.

“All over the world, young people are driving change through innovation and Nigeria is no exception. As a Bank, we believe in the transformative power of education in changing the fortunes of any nation. It is this belief that led us to organize the Read2Lead initiative. By fostering the fundamental yet crucial skill of reading and writing from a young age, we aim to empower children to face academic challenges confidently and solve life problems skillfully.

“The Read2Lead initiative, therefore, encapsulates our approach to instilling a culture of reading and writing among young people. As highlighted by the esteemed American journalist, critic, and social reformer, Margaret Fuller, "Today a reader, tomorrow a leader"; we believe that igniting our youths’ imagination early can unlock their potential and set them on a path to success”, explained Onyeali-Ikpe.

The prize presentation ceremony had in attendance the representative of the Ogun State Commissioner of Education, management staff of Fidelity Bank Plc, the top 30 students from the competition, their parents, teachers, colleagues and media personalities.

“When I started, I didn’t know I would emerge a finalist in the competition. I just decided to participate because I love writing. This was the first competition that I saw that asked for a fictional essay. As that is what I like, I decided to write. I want to thank Fidelity Bank for coming up with this initiative as it is a really good and creative competition”, disclosed an elated Miss Ogunyemi.

In a surprising twist of events, Miss Mfeheke Okoko and Miss Daniella Orji, also of The Ambassadors’ College, Ota, Ogun State, took home cash prizes for N1.5million and N1million for emerging the first and second-runners up respectively in the competition which saw students from across Nigeria compete in three phases of writing challenges.

In the first stage of the initiative, tagged, “The National Writing Showdown”, over 3,000 students were tasked with a creative writing task for a spot among the top 150 writers.

In the second stage known as “The Sweeta Writing Mastery”, the top 150 participants were given a novel to read and requested to write  an alternate ending for the book for chance to join the top 30 finalists.

In the third and final stage themed, “The Author's Workshop”, the top 30 students were enrolled in an immersive writing boot camp anchored by experienced writers and facilitators who selected the top three finalists.

Polaris Bank partners UI, NCF on environmental conservation, tree planting

                                                                                                                                                                                     

Polaris Bank Limited has collaborated with the University of Ibadan (UI) and the Nigerian Conservation Foundation (NCF) on environmental conservation through a tree planting initiative.

This was disclosed during a courtesy visit to the UI Vice Chancellor, Prof. Kayode Adebowale, by representatives of Polaris Bank Ltd and the Nigerian Conservation Foundation (NCF).

During the visit, Polaris Executive Director, Corporate & Investment Banking, Abimbola Ozomah, mentioned that the initiative is part of the bank’s corporate social responsibility efforts.

Ozomah explained that the initiative stemmed from the bank’s desire to continuously contribute positively to the environment and communities, as well as to commemorate World Environment Day on June 5, 2024.

She highlighted that the theme for World Environment Day 2024 centres on land restoration, desertification, and drought resilience, in alignment with the United Nations’ ecosystem restoration goals.

Ozomah said that Polaris Bank Ltd is committed to sustainable practices and land restoration through the nationwide planting of economic trees.

According to her, the bank’s sustainability practices include promoting responsible banking, empowering people and society, addressing environmental issues, and ensuring sustainable economic growth.

Mr. Adedayo Memudu, Senior Manager of the Nigerian Conservation Foundation, stressed that the organization encourages Nigerian citizens to appreciate nature and thrive while living in harmony with it.

He noted that one of the NCF’s core values is its commitment to partnership development, which is why it has partnered with Polaris Bank Ltd to enhance the bank’s corporate social responsibility and sustainability platforms.

The visit culminated in the consequent actual planting of trees at a designated site on the university campus.

A Memorandum of Understanding will later be signed between the University of Ibadan, Polaris Bank Ltd, and the Nigerian Conservation Foundation.

Speaking on behalf of the Vice Chancellor, UI Registrar, Mr. Ganiyu Saliu, reaffirmed the university’s commitment to conserving campus vegetation and promoting a greener environment to improve individuals’ well-being.

Saliu pointed out that the large number of ‘Iroko’ trees on the University of Ibadan campus serves as evidence of the institution’s intentional conservation efforts, despite broader environmental challenges in Nigeria and globally.

He explained that the university does not allow indiscriminate felling of trees but enforces a structured process for tree removal.

The registrar also noted that as part of the UI@75 anniversary celebrations, the university initiated a project to plant 1,000 trees, which will be adopted by well-meaning Nigerians, with the university providing the necessary support for their sustainability.

He stressed the importance of collaboration between the academic community and broader society, stating that both sectors must work together to address shared environmental challenges.

Saliu expressed gratitude for the collective efforts of organizations to tackle common challenges in Nigeria and appreciated Polaris Bank Ltd for partnering with the Nigerian Conservation Foundation in the tree planting initiative.                                                                                                                          Polaris Bank kick-started the nationwide tree planting initiative for land restoration on July 1, 2024 at the Tai Solarin University of Education (TASUED), Ijagun, Ijebu Ode, Ogun State; it then Proceeded to Ajingi Community Reserve, Kunkurawa, in Kano, Kano State on August 30, and next at the University of Ibadan on October 3.

Polaris Bank is known for taking proactive measures in addressing challenges of development and sustainability, including environmental and social issues. 

The Bank supports the United Nations Sustainable Development Goals (UN-SDGs), Nigerian Sustainable Banking Principles (NSBPs), and the United Nations Environment Programme Finance Initiative (UNEP FI’s) Principles of Responsible Banking.

Union Bank Reaffirms Support for Education in Nigeria; Backs 10th Edition of Maltina Teacher of The Year.

Union Bank of Nigeria, in continuation of its on-going efforts to improve the standard of Nigerian education, has partnered with Nigeria Breweries, makers of Maltina malt drink, as the official financial sponsor of the 10th-anniversary edition of the Maltina Teacher of the Year Award.

The bank is supporting this year's anniversary edition, themed 'A decade of inspiring excellence in teaching', as part of its corporate strategy and vision to improve three core aspects of education in Nigeria: improving access, improving quality, and optimising learning outcomes through cross-industry partnerships.

Union Bank, an advocate dedicated to ensuring the bright educational future of Nigerian youngsters, wants to succeed in this noble endeavour by achieving its objectives by leveraging the United Nations Sustainable Development Goals (SDGs), notably SDG 4—Quality Education. 

This dedication has led to the Bank developing its own unique educational assistance platform, Edu360. The Edu360 program is an initiative targeted at facilitating much needed investments in the educational sector through capacity building for teachers while developing collaborations between parents and educators regarding child development and curriculum.

According to Nigerian Breweries, the Maltina Teacher of the Year Award, which is in its tenth run since its launch in 2015, is an initiative aimed at recognising and celebrating exceptional teachers whose performances have impacted and positively improved the academic growth of students in Nigeria. 

Speaking on the Bank’s support towards the 10th Anniversary of the Teacher of the Year Award Ceremony, Union Bank’s Chief Brand and Marketing Officer, Olufunmilola Aluko said 

“Union Bank is delighted to partner with a laudable initiative like the Maltina Teacher of the Year that seeks to spotlight and acknowledge incredible educators who have positively shaped the minds of Nigerian students. This collaboration closely aligns with the bank’s overall aim of improving the standard of education within the country while also ensuring there’s equal access to every child, male or female, seeking to acquire life-changing knowledge that will benefit not only themselves and their immediate family but also the wider society”.

Union Bank remains steadfast in its commitment to promoting education, viewing it not only as a Sustainable Development Goal but also as a value-adding enterprise within its chain of business interventions. 

They firmly believe in investing in Nigeria's future and recognise the strategic importance of quality education in the nation's development.

Situation In Nigeria Today Worse Than It Was In 1984, Says ASUU

The Academic Staff Union of Universities has criticized the current state of governance in Nigeria, describing the country as being in a “hopeless state” due to corruption and poor leadership.

This sentiment stands in sharp contrast to the “Renewed Hope” mantra of President Bola Tinubu’s administration.

ASUU President, Professor Emmanuel Osodeke, made this statement on Thursday at the 2024 edition of the ASUU State of the Nation Conference, held in Abuja.

Themed “Nigeria in a State of General Crisis: The Search for a New Path to Development,” the conference was convened to address the country’s deteriorating situation and to offer solutions aimed at restoring hope and development.

Osodeke warned that Nigeria’s governance system, which he claimed is controlled by foreign interests and only benefits a select few, must be overhauled.

He expressed disappointment that despite Nigeria’s wealth, citizens continue to suffer in poverty, calling for the country’s resources to be used for the common good.

“As the nation marks its 64th independence anniversary, it is disheartening to note that the situation today is worse than it was in 1984,” Osodeke said.

He emphasized that ASUU’s mission goes beyond advocating for improved conditions for its members, but also includes protecting and advancing the socio-economic and cultural interests of the Nigerian people.

He noted that ASUU was established in 1978 to champion these causes, and since then, it has continued to organize national conferences aimed at generating ideas for better governance.

Reflecting on ASUU’s first State of the Nation Conference in 1984, held at the University of Benin, Osodeke drew parallels between the economic crises of that period and the current situation.

He lamented that the failure of past governments to implement resolutions from that 1984 conference has contributed to today’s challenges.

Key issues highlighted by ASUU at the time included chronic shortages of essential goods and services, infrastructure collapse, mass unemployment, high inflation, and the exploitation of Nigeria’s resources by foreign firms, aided by local elites.

Osodeke argued that these problems persist today, worsened by a foreign-controlled governance system that serves external interests.

Also speaking at the event, the Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas, represented by a deputy, commended ASUU for its continued advocacy for better funding of universities and improved working conditions for academic staff.

He acknowledged ASUU’s role in shaping Nigeria’s educational system and its contributions to national development.

ASUU called on the government to urgently address the current crises and implement solutions that will rescue Nigeria from the stronghold of foreign and local exploiters.

The union also stressed the importance of restoring Nigeria’s dignity and advancing the welfare of its people.

I’m Not Afraid To Die,’ Wanted Bandit Leader, Turji, Speaks From Hideout

Bello Turji, a notorious bandit kingpin declared wanted by the Defence Headquarters, has boldly challenged security forces, stating that he is unafraid of being killed.

In a recently released video lasting five minutes and forty seconds, Turji called for dialogue with the federal government to resolve the ongoing armed violence in Zamfara State.

He confirmed the killing of his superior, Halilu Sububu, but asserted that this would not deter him.

Turji expressed his willingness to surrender and lay down arms if the government engages in dialogue with him, suggesting that peaceful negotiations could be a solution to the conflict.

He said, “Sadists, who claimed that we are about to be killed, we are very sure that we are not in the world to stay for eternity. We are always ready to be killed.

“Killings have not started today; people were being killed since the era of past prophets. We are not afraid to die; we are not afraid of bombs.

“But you have not yet understood our message. People of Zamfara, when you stop killing our kinsmen; we will allow yours to live.

“Governor Dauda Lawal and Bello Matawalle will not help. I want the people of Zamfara to understand that they are just politicians without the interest of the people of Zamfara in their hearts.

“When Matawalle was the governor, who was sponsoring us? When Abdulaziz Yari was the governor, who was sponsoring us? Nobody is sponsoring us except God.

“It was during the administration of Yerima that the government sold out the grazing reserve and legalised the killing of the Fulanis.

“When Muhmud Shinkafi came on board, he tried unsuccessfully to address the problem. Abdulaziz Yari came and empowered the vigilantes, but we are still struggling.

“This is why we are calling on all of you to come and collaborate with us for peace to reign and stop the bloodbath in Zamfara. Guns and airstrikes will not stop us because we are not afraid of death.

“Kachallah Halilu Sububu is not the first person to be killed; several others were killed. The killing of Halilu Sububu will not deter us from doing what we are doing unless you stop killing our brothers in Zamfara, Sokoto, Katsina, and Niger states.

“Your only plan is to exterminate the Fulani race while God has been protecting us. Even if you kill us, it’s God who ordained that to happen, but it’s not by your power.”

Senate Turns Down Bill Seeking To Regulate Private Investigation in Nigeria

The upper chamber of the National Assembly, the Senate, has rejected a bill aimed at setting out the rules and conditions for operating and practicing private investigations in Nigeria.

The bill, introduced by Senator Osita Ngwu ( PDP,Enugu West),voted down by most members during the discussion in the Red Chamber.

In his opening remarks, Senator Ngwu, who serves as the Senate Minority Whip, explained that the bill’s main goals include establishing a structure for the licensing and regulation of private investigators, as well as setting standards for their professional conduct.

He mentioned that private investigation is a well-established field in countries such as the United Kingdom, the United States, Australia, and Canada.

Senator Ngwu pointed out that some private investigators have backgrounds in law enforcement, while others come from the military and intelligence sectors.

He also highlighted the growing global trend of requiring licenses for private investigators to uphold ethical standards.

“The objectives of the bill include fraud prevention, detection, assessment and resolution; corporate fraud and risk management services; insurance fraud and claims investigation; aviation accident and loss investigation; marine loss investigation; occupational health and safety incident investigation; and witness location and bail bond defaulters etc.

“The bill defines the scope of the profession; ensures standards; provides penalty for professional negligence; prescribes offences for operation without a license and encourages industry-based training to maintain capacity.

“The bill essentially seeks to professionalize the industry and has no financial implication,” Senator Ngwu noted.

However, during the debate on the bill, while the Senate Deputy Minority Leader, Senator Olalere Oyewumi, and Senator Victor Umeh supported the bill, others like senators Adams Oshiomhole, Iya Abbas, and Mustapha Saliu kicked against it, describing it as a recipe for a personal fight.

Having watched different arguments from his corner, the President of the Senate, Godswill Akpabio, called on the bill’s sponsor to withdraw it for further legislative inputs, which he hurriedly did.

Excitement Soars As Nigeria And UAE Strengthen Ties with Flight Resumptions

Nigeria welcomed the return of seamless travel between Lagos and Dubai! As of yesterday, Emirates Airlines resumed its daily flights, marking a new chapter in Nigeria-UAE relations and opening fresh opportunities for Nigerians eager to travel and do business in Dubai.

It’s not just Emirates offering direct flights—Egypt Air and Ethiopian Airlines also provide convenient options with easy transit through Cairo and Addis Ababa. There’s even talk of Nigeria’s Air Peace exploring routes to Dubai soon, offering even more ways to jet off in style.

With flights back in action, it’s time to plan that long-awaited trip to one of the world’s most exciting destinations. But before you start packing, make sure your travel documents are sorted. There are three classes of visas available: 96-hour transit, 30-day, and 60-day visas. All applications must be processed through the official website for Dubai visas, ensuring a seamless process for travelers. Additionally, you can apply through platforms like Fly Emirates or your preferred travel agent but don’t forget to verify your documents at verify.documentverificationhub.ae to avoid any delays. After document verification, you’ll receive your Document Verification Number (DVN), which will fast-track your visa application.

Dubai is calling! Whether it’s shopping at the world-famous Dubai Mall, taking in the views from Burj Khalifa, or diving into the city’s rich culture at the Al Fahidi Historical District, Dubai has something for everyone. For thrill-seekers, there are desert safaris and indoor skiing, while business travelers can explore the countless trade opportunities in this dynamic city. Plus, with the upcoming Dubai Expo, you’ll be at the heart of innovation and global networking.

The resumption of Emirates flights also comes with vast economic benefits for Nigeria. With Emirates SkyCargo offering over 300 tonnes of cargo capacity weekly, Nigerian businesses can easily export goods to Dubai and beyond, strengthening trade ties between the two nations. This boost is critical as Nigeria continues to diversify its economy, moving beyond oil into sectors like agriculture, manufacturing, and technology.

Adnan Kazim, Emirates' Chief Commercial Officer, expressed the airline's excitement, saying, "We are thrilled to reconnect Nigeria to Dubai and our global network. This route has always been popular, and we’re eager to welcome Nigerians back on board."

As Nigeria celebrates its independence, the return of Emirates flights is more than just restored travel—it’s a symbol of the growing partnership between Nigeria and the UAE. This strengthened connection will unlock new markets, boost tourism, and create jobs, driving mutual prosperity in both countries..

Fuel Price Hike Looms As NNPCL Portal Remains Closed

 

Petroleum marketers have raised an alarm that the Nigerian National Petroleum Company Limited, NNPCL, portal used for the purchase of Premium Motor Spirit (Petrol) has been shut down against dealers, making it impossible to apply for the commodity.

The spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike disclosed this in a statement on Wednesday.

According to him, marketers have more than 2,000 pending tickets for the purchasing of 45,000 liters of petrol.

He hinted that the situation may lead to another round of fuel scarcity nationwide.

“I can’t confirm the price now because the portal is still shut down.

“We have more than 2,000 tickets for 45,000 liters (of petrol). That is 45,000 multiplied by 2,000, you can now know the number of million liters it will be. This is just an estimate, you know I don’t work with NNPCL and I don’t know what is on their system,” Ukadike stated.

He added that a 45,000-litre truckload of PMS is around N39.5 million, making N79 billion when multiplied by 2,000.

Reacting to the development, the spokesperson of NNPCL, Olufemi Soneye admitted that the state-owned firm has a significant backlog to address.

He said that the portal closure was intended to prevent the company from holding marketers’ funds for an extended period.

Soneye assured that the portal would soon be reopened; however, he failed to state the date when it would happen.

“We have a significant backlog to address. The closure is intended to prevent us from holding marketers’ funds for an extended period,” Soneye had explained.

“It will be reopened once the backlog has been sufficiently reduced. We are working to address it as soon as possible,” he stated.

The development comes as Nigerians struggle with high energy costs.

Recall that NNPCL in September 2024 announced a fresh price increase for petrol nationwide after lifting the product from Dangote Refinery.

Nigerians currently buy petrol between N950 and N1,100 per liter nationwide.