All News – Hot SOURCE News

Hot Source
All News
May 17, 2025
0 views

NUPRC to Raise Nigeria’s Active Oil Rigs to 50 by End of 2025, Says Komolafe

*Says Nigeria set to tap from $3tn projected upstream investment by 2030

Emmanuel Addeh in Abuja

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed plans to raise the active oil rigs in Nigeria’s petroleum sector from the current 36 to 50 by the end of 2025.

Speaking at the ongoing 2025 Africa Energies Summit (AES) in London, United Kingdom, the Chief Executive of the NUPRC, Gbenga Komolafe, noted that from eight oil rigs in 2021, President Bola Tinubu’s recent reforms have significantly removed the bottlenecks and enhanced investment in the country’s oil sector.

The number of active oil rigs is a key indicator of the level of activity in the oil and gas sector, reflecting how much exploration and production work is currently underway. Each active rig represents an investment by an oil company to either discover new oil reserves or extract oil from known fields.

Komolafe, who spoke on the theme: “Igniting Nigeria and Africa’s Energy Future: Evolving Landscapes, Challenges, and Transformative Opportunities”, told the global audience at the event that Nigeria is now well positioned to tap into the projected $600 billion annual upstream investment required to grow Africa’s oil sector, estimated to hit about $3 trillion by 2030.

Quoting the International Energy Forum (IEF), the NUPRC chief executive pointed out that Africa’s energy need is projected to rise by 30 per cent by 2040, noting that to meet the projected demand, Nigeria has continued to play its part to attract the right investment to the sector.

“Africa’s own energy demand is poised to surge by 30 per cent by 2040, driven by rapid population growth, industrial ambition, and the rightful quest for universal energy access. Meeting this demand sustainably will require over $600 billion in upstream investments annually through 2030, according to a study conducted by the International Energy Forum (IEF) last year,” Komolafe said.

According to him, through the recent Presidential Executive Orders and the proactive stance of the NUPRC, Nigeria has redefined itself not only as a land of vast hydrocarbon potential but as a destination where opportunity meets ease of doing business, certainty, and investor value.

“The transformative impact has been remarkable. Our oil and gas sector has seen a significant surge in investment. New investors, empowered by clarity and quality, have entered our sector, oil and gas reserves and production have increased, while rig counts have surged from 8 in 2021 to 36 currently, with projections to reach 50 by the end of the year.

“This momentum reflects a bold new chapter; one driven by ambition, resilience, and opportunity. With 210.54 trillion cubic feet of natural gas reserves, the largest in Africa, and 37.28 billion barrels of crude oil reserves, Nigeria holds enormous reserves.

“Our national production target is 3 million barrels per day but achieving this requires continuous investment to unlock new basins and mature frontier fields to secure future energy needs that will match our fast-growing population. Therefore, it is safe to say that Nigeria is a major force and the rallying point in hydrocarbon conversation in Africa,” Komolafe added.

On recent licensing initiatives, the NUPRC boss explained that each of the awards and rounds was conducted with unprecedented transparency, unmatched competitiveness, and remarkable investor engagement.

Besides, Komolafe stated that the NUPRC had repositioned Nigeria as a prime destination for oil and gas investment, while reaffirming its commitment to global standards of excellence, innovation, and partnership.

Highlighting the quality and accessibility of subsurface data in the country, he disclosed that through a landmark partnership with TGS-PetroData and other multi-client service providers, the NUPRC embarked on one of Africa’s most ambitious data acquisition and reprocessing campaigns, acquiring over 11,000 square kilometers of 3D seismic data as part of the broader 56,000 sq km Awalé project.

At the heart of the revolution, he said, is also Nigeria’s National Data Repository (NDR), which houses one of the most extensive seismic databases on the continent and records from over 10,000 wells, enabling both physical and remote access for thorough technical due diligence.

“This wealth of accessible, high-quality data has not only empowered investor confidence during recent bid rounds but has firmly repositioned Nigeria as one of the most data-rich and investment-ready destinations in the global energy landscape,” Komolafe said.

He reiterated that the Nigerian oil and gas industry stands as the very heartbeat of the nation’s economy, contributing an astounding 95 per cent of foreign exchange earnings and nearly 70 per cent of government revenue, while creating jobs and establishing Nigeria as a strong player in the global energy landscape.

But he argued that if Nigeria is to sustain, accelerate, and truly harness the full potential of the sector for future generations, it must remain steadfast in advancing strategic initiatives that maximise government revenue, deliver tangible economic benefits to over 200 million Nigerians, and ensure consistent, attractive returns for valued investors.

To further consolidate the nation’s drive for energy security and production resilience, the NUPRC, he said, launched the bold and visionary initiative known as ‘Project 1 Million Barrels per Day (1MMBOPD)’.

According to him, at the centre of this initiative lies a propelling goal to increase Nigeria’s crude oil production by over 1 million barrels per day, in the mid-term, beyond the October 2024 baseline.

“This initiative was not conceived in abstraction, but in the context of real opportunity. It is a call to every oil and gas operating company, partners, and investors to revitalise dormant fields, rejuvenate brownfields, and deliver on the promise of existing assets in line with good asset stewardship,” he emphasised.

Since the launch of the project, he stated that Nigeria has achieved a notable increase in daily production, recently reaching 1.78 million barrels per day, up from a baseline of 1.46 million barrels per day in October 2024.

“Our message to you is therefore simple and resolute: Nigeria is not only rich in natural resources; it offers a strategic landscape of high-yield opportunities for forward-looking investors,” Komolafe said.

Hot Source
All News
May 17, 2025
0 views

Tinubu Okays Establishment of Forest Guards to Flush out Terrorists, Bandits

*Says govt will not surrender any part of Nigeria’s territory to criminals

Deji Elumoye in Abuja

In a move to secure Nigeria’s forests, President Bola Tinubu has approved the establishment of forest guards to secure Nigeria’s 1,129 forests.

Presidential spokesperson, Sunday Dare, who disclosed this on Wednesday evening via his verified X handle stated that the President directed that the forest guards be well trained and armed to flush out terrorists and criminal gangs hiding in the forests.

According to Dare: “The recruitment is a joint effort between federal and state governments. The Office of the National Security Adviser and the Ministry of Environment will oversee full implementation.

“Thousands of young Nigerians are expected to be employed for the initiative.

“President Tinubu reiterated that his administration will not surrender any part of Nigeria’s territory to criminals, vowing to take back the forests”.

Hot Source
All News
May 17, 2025
0 views

Rabiu: Dangote, BUA Groups Will Stabilise Cement Prices for FG Projects

•Move targeted at supporting Tinubu’s economic, infrastructure programmes

•Says granting strategic imports frustrates food hoarding, stabilise prices

Deji Elumoye in Abuja

Dangote and the BUA Groups have agreed to stabilise the price of cement without any increase in the near future for all contractors handling construction projects under the Renewed Hope Agenda of the Federal Government.

The Renewed Hope Housing projects, which include – Renewed Hope Cities, Renewed Hope Estates, and the Renewed Hope Social Housing Programme, among others, are a comprehensive Federal Government initiative designed to deliver affordable and inclusive housing for Nigerians nationwide.

Speaking to newsmen at the State House, Abuja on Thursday after meeting with President Bola Tinubu, Chairman of BUA group, Abdul Samad Rabiu, said the two companies have agreed to support President Tinubu’s initiative on addressing the huge housing deficit in the country.

His words: “We have decided. Alhaji Aliko Dangote of Dangote Cement approached me, and I concurred with him that we should do everything to support Mr President Renewed Hope Agenda, we have decided that we are going to freeze the price of cement for any contractor that is involved with the renewed hope project, or projects”.

He further explained “What it means is that any company or anybody that is involved or that is doing a project that is under the Renewed Hope, the price of cement will be frozen. There will be no increase for the foreseeable future.

“We are doing that to support mister president’s renewed hope initiative. And that is something that Alhaji Aliko Dangote actually proposed. I must say, I must give him credit, and I concur with him. So we have agreed. We are going to do that.

“We are going to send out the letter sometime next week to the ministry. And I also want to commend the Minister of Works, Dave Umahi, for the initiative he took to ensure that all the roads are concrete. Because concrete roads are more durable. They take much longer, you know, in terms of durability and the price is going to be cheaper than even bitumen,” Rabiu said.

He noted that cement prices in Nigeria, despite inflation and forex challenges, remain relatively competitive by international standards.

“Even at N10,000 per bag, that’s about $120 per ton, which is in line with global pricing,” he explained, adding that high production costs due to increased energy and spare parts expenses—mostly paid in dollars—have not deterred manufacturers from backing government projects.

To further drive this initiative, BUA’s Managing Director, Yusuf Binji, has been appointed Chairman of the Cement Manufacturers Association of Nigeria (CEMAN), tasked with coordinating industry-wide compliance on price stability for Renewed Hope infrastructure projects.

Rabiu also revealed a broader sectoral reform aimed at strengthening capacity in the construction industry.

Cement manufacturers have agreed to contribute N20 to N30 per bag to revive the Cement Technology Institute of Nigeria (CTIN), generating about N15 to N20 billion annually.

The funds will be used to train artisans and bridge the skills gap in construction.

“We’re revamping CTIN not just to train artisans, but to sustain the gains we’ve made in local cement manufacturing,” Rabiu stated.

According to him, Aliko Dangote will continue as chairman of the CTIN, while Mangal Cement’s Alhaji Dahiru Mangal has been newly admitted to both CEMAN and CTIN.

On the food front, Rabiu also reported progress in stabilizing prices of essential staples through BUA Foods’ aggressive supply-side interventions.

He praised President Tinubu’s foresight in approving temporary duty waivers last year for key food imports, which allowed companies like BUA to bring in wheat, maize, and rice, forcing market prices downward.

“Rice is now about N60,000 per 50kg bag, down from N110,000 last year. Flour has dropped to N55,000 and maize to N30,000. This was made possible by the President’s bold six-month waiver policy, which disrupted hoarding and brought relief to consumers”, Rabiu said.

He explained that strategic imports by BUA undercut the hoarding practices of speculators who stockpiled local paddy to drive prices up post-harvest.

“Those hoarders are now losing money because we crashed the price with available stock,” he noted.

As part of industry-wide reforms, the Rice Millers Association has pledged to discourage hoarding of paddy and maintain stable market supplies.

“We now have enough rice to last through the year. Even when the harvest starts, farmers will get fair prices, but hoarders won’t be able to manipulate the market”.

Rabiu commended President Tinubu for his commitment to economic stabilization and infrastructure growth, and assured continued private sector support.

“Mr President was satisfied with our report. He encouraged us to do more, and that’s exactly what we intend to do,” he said.

Hot Source
All News
May 17, 2025
0 views

Court Convicts Vessel, Filipino Crew for Cocaine Trafficking, NDLEA Secures $ Fine in Plea Deal

Wale Igbintade

Justice Daniel Osiagor of the Federal High Court in Lagos on Thursday convicted the vessel MV Chayanee Naree and its 10 Filipino crew members for importing 32.9 kilograms of cocaine into Nigeria in 2021.

The conviction followed a plea bargain agreement between the defendants and the National Drug Law Enforcement Agency (NDLEA).

Under the agreement, the vessel will pay a $4 million fine in lieu of forfeiture or imprisonment. Seven crew members were fined $30,000 each, while the ship’s captain, first master, and chief officer were fined $50,000 each.

Additionally, all 10 Filipino crew members must pay N100,000 each as restitution.

The convicted Filipino sailors are:
Krilerk Tanakhan, Boonlert Hansoongnern, Jakkarin Booncharoen, Thammarong Put-tlek, Worrapat Paopinta, Marut Kantaprom, Werapat Somboonying, Urkit Amsri, Panudet Jaisuk, and Amrat Thawom.

The vessel and crew were initially arraigned in February 2022 alongside nine Nigerians, who are still facing trial.

The Nigerians include Samuel Messiah, Ishaya Maisamari, Ilesanmi Ayo Abbey, Osabeye Stephen, Gbenga Ogunfadeke, Kayode Buletiri, Rilwan Omotosho Liasu, Saidi Sule Alani, and Jamiu Adewale Yusuf.

All were arrested on October 13, 2021, at Apapa, Lagos, following the vessel’s arrival from Brazil.

They were charged with conspiracy, unlawful transportation, and unlawful importation of 32.9 kilograms of cocaine.

According to the NDLEA, their actions violated sections 11(a), 11(b), and 14(b) of the National Drug Law Enforcement Agency Act Cap N30 Laws of the Federation of Nigeria, 2004, which prescribe penalties for such offenses.

Justice Osiagor adopted the plea bargain as the court’s judgment after both prosecution and defense formally endorsed it last week.

The judge expressed concern about imposing both fines and restitution on defendants in a case without a direct victim but allowed the agreement to stand due to its voluntary nature.

The court ruled that upon full payment of fines and restitution, the convicted defendants are free to return to their home country.

Notably, the plea deal does not cover six Nigerian labourers on board the vessel, who remain under trial.

The NDLEA’s amended four-count charge states that the vessel and crew transported cocaine from Santos Port, Brazil, to Lagos without lawful authority and failed to prevent the ship’s use for drug trafficking.

Additionally, the convicted Filipinos and Nigerian co-conspirators are accused of collaborating with three suspects—Kehinde Enoch, Ayo Joseph, and Tunde who are currently at large.

Initially pleading not guilty, the defendants changed their plea to guilty on April 8, 2025, after reaching the plea agreement with NDLEA.

Hot Source
All News
May 17, 2025
0 views

Inflation Declines to 23.71% Amid Lower Food, Energy Prices

•Severe in Ekiti, Kebbi, Niger, others

•Varsity don hails price moderation as boost to investor sentiment, macro-economy

Ndubuisi Francis and James Emejo in Abuja

The Consumer Price Index (CPI), which measures the rate of change in prices of goods and services, eased to 23.71 per cent in April compared to 24.23 per cent in March, National Bureau of Statistics (NBS) said yesterday.

According to the CPI report for April 2025, which was released by the statistical agency, month-on-month, inflation stood at 1.86 per cent in April, from 3.90 per cent in March.

Headline inflation stood at 9.99 per cent, year-on-year, compared to 33.69 per cent in April 2024, using the 2009 base year, before rebasing, NBS stated.

The three major contributors to headline inflation included food and non-alcoholic beverages, which accounted for 9.49 per cent, restaurants and accommodation services contributed 3.06 per cent, and transport, which contributed 2.53 per cent.

On the other hand, alcoholic beverages, tobacco, and narcotics; and recreation, sport, and culture were the least contributors at 0.09 per cent, and 0.07 per cent, respectively.

Food inflation declined year-on-year in April to 21.26 per cent, compared to 40.53 per cent in April 2024.

According to NBS, the significant decline in food annual inflation was technically due to the change in the base year for CPI estimation.

However, on a month-on-month basis, the food index dropped to 2.06 per cent from 2.18 per cent in March.

The decrease in food prices was attributed to the rate of decrease in the average prices of maize flour, dried okro, yam flour, soya beans, rice, bambara beans, and brown beans among others.

Core inflation, which excludes the prices of volatile agricultural produces and energy, declined to 23.39 per cent year-on-year in April, compared to 26.84 per cent in April 2024.

Month-on-month, core inflation stood at 1.34 per cent in April, from 3.73 per cent in the preceding month.

In the newly introduced sub-index, farm produce contributed 2.64 per cent to inflation; energy, 9.21 per cent; services 3.44 per cent; and goods 3.89 per cent.

Year-on-year, urban inflation was 24.29 per cent in April 2025 while the index stood at 1.18 per cent, month-on-month, compared to 3.96 per cent in March.

Rural inflation stood at 22.83 per cent year-on-year, in the review period. Month-on-month, the index dropped to 3.56 per cent, from 3.73 per cent in March.

At state level, headline inflation, year-on-year, was highest in Enugu (35.98 per cent), followed by Kebbi (35.13 per cent), and Niger (34.85 per cent), while Ondo (13.42 per cent), Cross River (17.11 per cent), and Kwara (17.28 per cent) recorded the lowest rise in prices.

On a month-on-month basis, however, inflation was highest in Sokoto (16.26 per cent), Nasarawa (16.02 per cent), and Niger (14.74 per cent), while Oyo (-6.45 per cent), Osun (-4.54 per cent), and Ondo (-3.44 per cent per cent) recorded the lowest rise.

Equally, at the sub-national, food inflation, year-on-year was highest in Benue (51.76 per cent), Ekiti (34.05 per cent), Kebbi (33.82 per cent), while Ebonyi (7.19 per cent), and Adamawa (9.52 per cent), while Ogun (9.91 per cent) recorded the slowest rise.

Month-on-month, food inflation was highest in Benue (25.59 per cent), Ekiti (16.73 per cent), and Yobe (13.92 per cent), while Ebonyi (-14.43 per cent), Kano (-11.37 per cent) and Ogun (-7.06 per cent) recorded decline in food inflation.

Boost to Economy

Reacting to the slowdown in inflation, former Vice Chancellor, Nasarawa State University, Professor Mohammed Mainoma, said the decline represented a boost to investor sentiment and a positive signal in Nigeria’s

Mainoma, who is also a Fellow of the Capital Market Academics of Nigeria (CMAN) and President of the Association of National Accountants of Nigeria (ANAN), said, “The recent easing of headline inflation to 23.71 per cent in April 2025, as reported by the National Bureau of Statistics (NBS), is a positive signal, albeit modest, in the context of Nigeria’s ongoing macroeconomic adjustment efforts.

“From my perspective, there are several key implications for the Nigerian equities market and the broader economy.”

Mainoma added that a decline in inflation, even marginal, tended to boost investor sentiment, particularly in the equities market. He said decline suggested some easing in cost pressures and a potential shift in monetary policy stance.

He stated that consumer-facing sectors, like fast moving consumer goods (FMCGs), may benefit from improved purchasing power, translating into better earnings and valuation potential.

Mainoma stated, “However, at 23.71 per cent, inflation remains significantly above the central bank’s comfort zone, so interest rates may still remain tight, which could limit liquidity available for stock market investments in the short term.”

On monetary policy outlook, the professor of accounting and finance who is currently Vice Chancellor of Prime University, Abuja, argued that a sustained easing trend could encourage the CBN to pause further rate hikes, or even consider rate adjustments that favour growth, especially in the non-oil sector.

“Investors will closely monitor CBN’s next move, as it has direct implications on portfolio flows and bond-equity allocations,” he said.

Regarding economic sentiment and household impact, Mainoma explained that while 23.71 per cent inflation rate is still high, any reduction brings psychological relief to households facing months of eroded purchasing power.

He added that for businesses, it may signal a gradual reduction in cost of raw materials and transport, improving operational efficiency and profitability.

In the area of real sector confidence, the academic affirmed that lower inflation, if sustained, improves business planning confidence, encourages capital expenditure, and supports credit expansion.

“It may also support the informal sector and SMEs, who are disproportionately affected by inflation volatility.

“This easing in inflation is not yet a turning point, but it is a hopeful marker. For the equities market, it may strengthen the case for long-term investment in growth-sensitive sectors.

“For the broader economy, it signals that policy stabilisation efforts are gaining some traction, though sustained and coordinated fiscal-monetary reforms are still required to consolidate this gain.”

Hot Source
All News
May 17, 2025
0 views

NUPRC to Raise Nigeria’s Active Oil Rigs from 36 to 50 By End of 2025

•Bloomberg Report: At $5.34bn, Nigeria tops Shell’s 2024 global oil tax payments

•Seplat predicts H1 revenue to dwarf full year 2024 $1.1bn

Emmanuel Addeh and Sunday Aborisade in Abuja

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reiterated plans to raise the active oil rigs in Nigeria’s petroleum sector from the current 36 to 50 by the end of 2025, an increase of about 38.89 per cent.

Also yesterday, it emerged that global oil giant, Shell Plc, paid $5.34 billion in taxes and other charges to Nigeria in 2024, more than any other country it operates in the world, a Bloomberg news report said.

In the same vein, Seplat Energy Plc, one of Nigeria’s largest oil and gas explorers, has said it expects first-half revenue to exceed last year’s $1.1 billion after ramping up production this year.

But speaking at the just concluded 2025 Africa Energies Summit (AES) in London, United Kingdom, the Chief Executive of the NUPRC, Gbenga Komolafe, noted that from eight oil rigs in 2021, President Bola Tinubu’s recent reforms have significantly removed the bottlenecks and enhanced investment in the country’s oil sector.

Besides, Komolafe stated that the NUPRC has repositioned Nigeria as a prime destination for oil and gas investment, while reaffirming its commitment to global standards of excellence, innovation, and partnership.

Also, Global oil giant, Shell Plc, paid $5.34 billion in taxes and other charges to Nigeria in 2024, more than any other country it operates in the world, a Bloomberg news report said yesterday.

The company’s payments to Nigeria increased from the previous year and came as the oil and gas company is on the verge of leaving Nigeria’s onshore production business after many decades of controversial operations.

Shell, which released the figures in a disclosure required under UK law, will continue to produce oil in the waters off the west Africa nation, the report stated.

Exiting onshore production in the Niger Delta, which is among Shell’s most emissions-intensive operations where the company is accused of causing widespread environmental pollution, is part of its effort to simplify its portfolio and “become a net-zero energy business by 2050,” the company said.

Besides, Oman, Brazil and Norway, where Shell has significant operating footprints, were next on the payments list after Nigeria and together received approximately $11.7 billion. The report published on Thursday covers charges related to extractive activities.

In the UK, the government refunded Shell about $32 million for decommissioning the Brent field and other North Sea production assets, down from a $43 million refund for those assets in 2023.

Since this report only includes extractive activities charges, this does not represent Shell’s total tax bill to the UK. The last disclosed payment from Shell to the UK government was about $6 billion in 2023, which was published at the end of 2024.

Overall, Shell paid governments around the world about $28.1 billion in taxes and charges related to its extractive activities in 2024, down nearly 5 per cent from 2023. Shell’s full year adjusted earnings in 2024 were $23.7 billion, a roughly 17 per cent decline from 2023.

Meanwhile, Seplat Energy Plc, one of Nigeria’s largest oil and gas explorers, has said it expects first-half revenue to exceed last year’s $1.1 billion after ramping-up production.

“Our revenue last year was $1.1 billion. In the first quarter, our revenue was $809 million, so in the second quarter, it will likely exceed the total revenue for all of last year,” Bloomberg quoted Chief Executive Officer, Roger Brown, as telling investors at an annual general meeting in Lagos.

Seplat has seen a significant boost in production since acquiring assets from the Nigerian unit of Exxon Mobil Corp late last year. It predicted at the time that the deal could nearly triple output to more than 200,000 barrels a day.

To guard against a global oil slump, Seplat has hedged 5 million barrels of crude per quarter at $55 a barrel and initiated cost controls to protect the business, Brown said.

US trade tariffs and higher Organisation of Petroleum Exporting Countries (OPEC) output have caused oil prices to fall 11 per cent this year to $66.27 per barrel.

The hedging allows Seplat to sell crude at the predetermined price and volume in 2025, even if oil prices fall below the threshold, the report added.

Meanwhile, President of the Senate, Godswill Akpabio, has reiterated the commitment of the National Assembly to tackle crude oil theft, stressing that the legislature was considering stiffer penalties for oil theft, including terrorism charges for major offenders.

Akpabio disclosed this while declaring open a two-day public hearing on the incessant and nefarious acts of crude oil theft in the Niger Delta and the actors at the Senate wing of the National Assembly.

Represented by the Deputy President of the Senate, Senator Barau Jibrin, he said the 10th National Assembly will not stand by while the country’s economy bleeds.

He said: “We are prepared to strengthen laws, enhance oversight, and ensure that agencies responsible for protecting our oil assets are held accountable. Specifically, we will consider: Stiffer penalties for oil theft, including terrorism charges for major offenders.

“Mandatory digital metering and real-time monitoring of all oil production and exports. Greater transparency in crude oil lifting and revenue reporting. Enhanced collaboration between the military, police, NSCDC, EFCC, and international partners to track and intercept stolen crude.”

He said the fight against crude oil theft cannot be left to the government alone as such oil companies must invest in modern surveillance technology and secure pipelines.

According to him, host communities must see themselves as first-line defenders of these assets, not victims or accomplices. He said security agencies must demonstrate zero tolerance for complicity.

He said: “As I declare this Public Hearing open, I charge all stakeholders to engage with the utmost seriousness. The recommendations from this session must lead to actionable, measurable, and time-bound solutions. Nigeria’s survival depends on it.

“To the criminals stealing our crude oil, your time is up. To the agencies tasked with protecting our resources, the nation is watching.

“To this Ad-hoc Committee, the Senate expects nothing less than a robust, no-holds-barred report that will guide decisive legislative and executive actions. It is time to take back what belongs to Nigeria,” he said.

He commended the Senate Ad-hoc Committee on Incessant Crude Oil Theft, chaired by Senator Ned Munir Nwoko (Delta North), for convening the public hearing

He said: “Nigeria’s oil and gas sector remains the lifeblood of our economy, accounting for over 80 per cent of government revenue and 90 per cent of foreign exchange earnings. Yet, for decades, we have watched in dismay as criminal syndicates – both foreign and domestic – continue to siphon our crude oil with brazen impunity.

“Recent reports indicate that Nigeria loses between 150,000 and 400,000 barrels of crude oil per day to theft – a staggering hemorrhage that translates to billions of dollars in lost revenue annually.

“This theft is not a victimless crime. It directly undermines our economic stability, devalues the Naira, starves critical sectors of funding, and perpetuates poverty in oil-producing communities.

“Worse still, it finances illegal arms, fuels violence, and emboldens criminal networks that threaten national security. Let me be unequivocal, crude oil theft is an act of economic sabotage and must be treated as such.

“Those behind this criminal enterprise are enemies of the state, and they must be pursued, prosecuted, and punished to the fullest extent of the law. We can no longer tolerate a situation where a few greedy individuals and cartels hold our nation’s wealth hostage while millions of Nigerians suffer.

“While previous efforts have been made to curb this menace, the persistence of oil theft suggests systemic failures that require immediate and decisive action. This Public Hearing must address key questions: Who are the perpetrators? Are they militants, corrupt officials, international collaborators, or all three?

“Why have current surveillance and security measures failed? How are stolen crude oil shipments exported without detection? What legislative and policy reforms can close existing loopholes?

“We must also critically examine the roles of regulatory agencies, security forces, oil companies, and host communities in either enabling or combating this crime,” the President of the Senate stated.

Hot Source
All News
May 17, 2025
0 views

FG Secures €100m Concessionary Funding from French Treasury to Develop Creative Infrastructure

*Denies moving ministerial briefing to London

*Umahi: N2.2trn spent on repairs, construction of 289 roads in two years

Olawale Ajimotokan and Emmanuel Addeh in Abuja

The federal government yesterday, disclosed that it has secured concessionary funding from the French Treasury for creative infrastructure projects in Nigeria, with potential funding expanded from €35 million to €100 million.

Minister of Arts, Culture and the Creative Economy, Hannatu Musawa, disclosed this yesterday, at the eighth edition of the Ministerial Press Briefing Session, held in Abuja, while presenting the scorecard of the ministry established in November 2023, by President Bola Ahmed Tinubu.

Also yesterday, the federal government scorned reports circulating in both traditional and online media suggesting that the Ministerial Press Briefing Session had been relocated from Abuja to London.

Speaking further, Musawa said the collaboration with the French Treasury on funding for creative infrastructure projects in Nigeria, was one of the key drivers with public-private partnerships.

Musawa added that the establishment of the Creative and Tourism Infrastructure Corporation (CTICo), approved by the Federal Executive Council, with projected investment of $100 billion, has a potential to create over two million jobs by 2027.

She stated that the ministry had already created 500,000 jobs in the music sector, which has 49 sub-sectors, as part of the target to provide two million jobs by next year.

According to Musawa, a mapping indicated that the sector would continue to thrive through self-employment and micro-enterprise pathways, with regional hubs like Edo, Delta, and Plateau playing key roles alongside Lagos.

She added: “257,745 jobs have been created in the entertainment sector. This is information that you can find at the NBS. And it is an increase of employment across the full spectrum of not only the creative sector, but the cultural and tourism sector as well-300,000 to 577,754 in 2024.

“And additionally, 23,221 jobs were created in 2024 as a result of the establishment of over 20,000 new start ups under the cultural and creative industries. Now, you must understand that when we talk about job creation, it is really across the full planning chain.”

She also listed other feats to include the partnership with Afreximbank for a $200 million funding commitment; the partnership with Creative Park Limited to establish Abuja Creative City, a first-of-its-kind creative hub in Africa on 26 hectares of land in the IDU Industrial Area, Abuja; establishment of the Nigerian Academy of Cultural Studies (NACUS) by the National Institute for Cultural Orientation (NICO), with four strategic campuses in Ogbomoso, Calabar, Lagos, and Abuja, offering specialised cultural education programmes and the launch of the D30 Data Platform, an open-source data initiative developed with BigWin Philanthropy to provide transparent, reliable, and actionable data for Nigeria’s cultural, tourism, and creative economy sectors and launch of a major initiative to renovate Nigeria’s national museums, preserving cultural heritage.

Meanwhile, the federal government yesterday scorned reports circulating in both traditional and online media suggesting that the ministerial press briefing session had been relocated from Abuja to London.

The claim was dismissed by the Minister of Information and National Orientation, Mohammed Idris, in his opening remarks at the ministerial press briefing.
Aside Musawa and Idris, others who featured at the briefing were the Minister of Water Resources and Sanitation, Prof. Joseph Utsev, and the Minister of Works, Senator David Umahi.

Idris said: “This is your answer to the insinuation that the press briefing session is relocating to abroad. We have our responsibility first to the Nigerian nation and that’s why we invite these ministers to come here and address Nigerians and those outside this country directly from nowhere but the National Press Centre here in Abuja.

“So, if you think that the ministerial press briefing, for those who are already making the insinuation that it’s being moved outside this country, is false. The platform that the Federal Ministry of Information and National Orientation is providing, is what is happening here in the country.”
Idris used the occasion to commend the performance of the economy, noting a marked improvement reflected in the gradual decline of the headline inflation rate as reported by the National Bureau of Statistics.

“Today, I am pleased to announce encouraging news from the National Bureau of Statistics, which released the Consumer Price Index (CPI) for April 2025, yesterday. According to the report, the headline inflation rate for April stood at 23.71 per cent, representing a decrease of 0.52 per cent from the 24.23 per cent recorded in March 2025. Similarly, month-on-month, inflation dropped by a notable 2.04 per cent, from 3.90 per cent in March to 1.86 per cent in April.

He asserted that this had not happened by chance, adding the President’s focused interventions were clearly paying off.

The minister said the benefits of reform, though gradual, were real and measurable.

He stated that one of the major drivers of inflation – food prices – had also been brought under control through President Tinubu’s significant interventions, leading to a noticeable reduction in the cost of food items.

“One of the key indicators of relief is the food inflation rate. While food prices remain an important concern for many Nigerians, the year-on-year food inflation rate eased to 21.26 per cent in April. On a month-on-month basis, it slowed to 2.06 per cent, down from 2.18 per cent in March. This positive movement has largely been driven by price reductions in staple items such as maize flour, wheat grain, yam flour, okro, soya beans, rice, and beans.

“We acknowledge that we are not yet where we desire to be. But these latest figures give us every reason to be hopeful. They show that the hard decisions are beginning to bear fruit. And as inflation eases, we expect to see corresponding improvements in consumer purchasing power and living conditions,” he stated.

Idris assured that the Tinubu Administration will sustain the momentum of economic improvement by prioritizing people-centered policies aimed at providing relief, restoring economic stability, and promoting shared prosperity for all Nigerians.

The view was corroborated by Umahi, who was reported to be among the ministers scheduled to unveil President Tinubu’s achievements at a press briefing in London.

Umahi affirmed the position of the Minister of Information and National Orientation, stating that the report was patently false.

Umahi, yesterday disclosed that the federal government has so far spent about N2.2 trillion on the repairs of 260 dilapidated roads as well as 29 other major infrastructure projects across the country.

He revealed that a total of 440 road projects are currently ongoing nationwide, with the critical infrastructure having gulped N2 trillion and palliatives works costing N208 billion.

“In just two years, President Bola Tinubu’s administration has completed 260 palliative road projects nationwide, costing N208 billion. Beyond this, 29 major infrastructure projects totaling over N2 trillion have been undertaken, demonstrating an unparalleled dedication to revitalising our national infrastructure.

“With two years under its belt, this administration is positioning infrastructure as a backbone for national development with ongoing projects spanning rural roads, federal highways, and legacy projects expected to improve trade, mobility, and local job creation,” the minister added.

The minister denied claims that he was among government officials scheduled to participate in the purported international media briefing in London aimed at promoting the administration’s achievements, describing the report as “baseless social media propaganda.”

“I have not been to London in the past two years, and I never discussed going to London with anybody. I have too much work to do here, talk about going to London. So we should not just take on social media and take it to be true. Nobody discussed going to London with me. And let me say that for a minister to travel out of the country, the rule is that you must get written approval from the President. So this is social media jargon and should not be taken seriously. “Nobody discussed it with me. I’m not aware,” he added.

The minister further said the ministry would reduce the use of foreign contractors in road construction projects across the country in line with the president’s ‘Renewed Hope Agenda’, which prioritises local content and capacity development.

He added: “Let me also announce that Mr. President directed that we must grow the local contractors. We must grow our local engineers. And so, we have a programme which we call the new tool programme, whereby in every state, we are getting five civil engineers who are not at work, and we are posting them to these four legacy projects and other legacy projects of the country, so that they can learn.

“We can’t continue to use foreign contractors to grow our economy. When you go to China, you find out who is working. We have to grow our people. And we have introduced concrete pavement, which is very easy to learn.

“But the trick in it, and that’s why contractors are fighting me, is that you can do all the mess and cheating with asphalt, but you cannot do that with the concrete because the moment the quality of the concrete is not there, it will fail in your face.”

Also, Umahi reiterated the federal government’s plan to toll critical road corridors for sustainability, mentioning that major roads like Abuja-Kano, Port Harcourt, East-West Road, the Lagos-Calabar, Sokoto-Badagry Superhighway, Kebbi section, and others will be candidates for tolling.

“The vision of Mr. President’s administration is to create a $1 trillion economy. This involves reclaiming our country’s economic strength by promoting local content across all sectors.

“The tolling of the Keffi to Makurdi road has not been suspended, it is ongoing. What informed the decision to toll roads? The construction of Keffi to Akwanga was done under the China Harbour Project, and as part of the agreement, it will be tolled upon completion.”

“Just like the four legacy projects, the completed sections are being tolled because both carriageways are ready,” he added, stressing that it was unrealistic to rely solely on budgetary provisions to fund and maintain all the roads.

Hot Source
All News
May 17, 2025
0 views

Tinubu Receives Alaafin of Oyo, Oba Owooade At State House

Deji Elumoye in Abuja

President Bola Tinubu on Friday received in audience the 46th Alaafin of Oyo, Oba Abimbola Owoade, at the State House, Abuja.

The president’s meeting with the Alaafin of Oyo is coming shortly after President Tinubu held a closed-door session with security chiefs and the National Security Adviser, Mallam Nuhu Ribadu.

Ahead of his first visit to the president, reports stated that Oba Owoade arrived the nation’s capital, Abuja on Wednesday to hold a strategic meeting with President Tinubu.

The president’s audience with the traditional ruler underscores the importance of traditional institutions in Nigeria’s governance and the ongoing collaboration between the Federal Government and traditional rulers.

President Tinubu had, during the coronation of Oba Owooade in April 2025, urged the first class traditional ruler to foster the unity of the Yoruba people and the country as a whole.

Details later…

Hot Source
All News
May 17, 2025
1 views

Tinubu Approves More Air Assets to Tackle Insurgency

*Orders military to intensify counter-terrorism operations

*Meets CDS, service chiefs*Military warns against misinformation, recirculation of old footage

Deji Elumoye and Linus Aleke in Abuja

President Bola Tinubu has approved the acquisition of additional air assets to strengthen the fight against insurgency in the country.

The Chief of Defence Staff, General Christopher Musa, who disclosed this while briefing journalists in Abuja, after a closed-door meeting with Tinubu and the defence chiefs, yesterday, assured Nigerians that the military was committed to addressing the recent surge in insecurity.

Musa, also revealed that the additional equipment had already been procured to strengthen the fight against terrorists.

Also, yesterday, Tinubu ordered the military to intensify its counter-terrorism and anti-banditry operations to free all nooks and crannies of the country from criminal elements, terrorists, and bandits.

Tinubu gave this order while inducting the newly procured A109S Trekker Helicopters, tagged NAF 544 and NAF 545, into the Order of Battle of the Nigerian Air Force.

Represented by Vice President Kashim Shettima, the President revealed that the newly inducted platforms were acquired alongside others, like the Diamond-62 surveillance aircraft, the T-129 ATAK helicopters, and the King Air 360i aircraft, as well as others that will be delivered in the coming months.

Likewise, the President who also received a delegation of the Charismatic Bishops Conference of Nigeria led by its General Secretary, Archbishop Chivir Chianson at the State House, Abuja, yesterday, stressed his administration’s resolve towards countering the insurgency in parts of the country, stressing that he will not condone any form of evil against the citizenry.

Represented by his Special Adviser on Policy Communications, Daniel Bwala, Tinubu said the security agencies were ready with renewed commitment to restore safety and security to every part of the country, stressing that the fight against insecurity will be holistic.

Speaking further at the closed-door meeting with Tinubu, which was also attended by Chief of Army Staff, Lieutenant General Olufemi Oluyede; Chief of Air Staff, Air Marshal Hassan Abubakar; Chief of Naval Staff, Vice Admiral Emmanuel Ogalla; and the Inspector General of Police, Kayode Egbetokun, among other top security chiefs, Musa said: “Mr. President has given a directive as to what to do next for us to intensify all efforts, collaborate with all our sister countries around us because it is the porous nature from there that is aggravating our issues on ground.

“And so all our theatres have been enhanced, equipment has been bought and Mr. President has given us much approval for air assets, and other aspects of security and as we said, it is not only the kinetic aspect, the non-kinetic aspect is most important.

“The President is also looking at discussing with governors for their own support by ensuring that dividends of democracy extend to the community to stamp down the issue of insecurity and we are working together.”

Musa attributed the recent surge in insecurity in Nigeria to a global push by terrorists and jihadists across the Sahel region, noting that the pressure on Nigeria is largely due to the porous nature of its borders.

He stated that the meeting with President Tinubu was held to review the overall security situation in the country, adding that the President was deeply concerned about the current developments and is determined to see them resolved.

The Chief of Defence Staff also appealed to Nigerians not to get tired of supporting the security agencies in the fight against insurgency.

He also cautioned citizens to be wary of fake news, citing instances where videos from other countries are circulated on social media as though they depict events in Nigeria.

Tinubu further assured the military that he was committed in providing them with all the tools and armaments needed to carry out their duties as well as protect the territorial integrity of the country and imbuing the populace with confidence and safety.

He also urged the military to step up their efforts to conclusively end the multi-dimensional security challenges facing the country.

President Tinubu stressed that the efforts of the military in finally wrapping up its progressive onslaught against “the enemies of our collective progress are not only critical to the end-state but essential in giving people the trust and confidence they require to thrive and prosper.”

He assured that his administration will continue to support the Nigerian Air Force and indeed other security agencies by giving due attention and priority to fleet modernisation, as well as training and welfare of men and women in uniform.

He stated, “You may recall that in my inaugural address, I was very emphatic that security shall be a top priority of our administration because neither economic prosperity nor justice can prevail amidst insecurity and violence. It was also my solemn promise to deploy the entire machinery of state power to ensure the security of our people and their properties in a just, free, and fair democratic society. Furthermore, I had pledged to put an end to the menace of terrorism, insurgency, kidnapping, and other forms of criminality that have blighted our country for so long.”

He explained that the induction ceremony was not merely about adding new helicopters to the NAF fleet but a strategic statement of intent; a demonstration of collective resolve to strengthen the armed forces, defend the nation, and reinforce Nigeria’s leadership role in Africa.

He expressed confidence that the deployment of the newly acquired platforms would add impetus to the combat power of the Nigerian Air Force in tackling contemporary security challenges, not only within the shores of the country but also in the West African sub-region.

Tinubu said: “As your Commander-in-Chief, I understand that a well-equipped military is essential not only for securing our nation but also for preserving our democracy. A democratically stable Nigeria is fundamental to our national progress and regional peace, and the defence of democracy requires a military that is well-prepared, well-trained, and well-equipped.

“We also recognise that the security of a nation is intrinsically linked to its economic growth and social stability. Accordingly, my administration will remain steadfast in modernising the Armed Forces, ensuring that you have the best tools to perform your duties effectively. This investment in air power aligns with our broader vision to protect Nigeria’s democratic institutions, uphold national sovereignty, and maintain law and order. Therefore, we will continue to invest in cutting-edge defence technologies and provide our military with the resources needed to counter both conventional and asymmetric threats.

“I am overly confident and rightly so that the deployment of these newly acquired platforms will add impetus to the combat power of the Nigerian Air Force in tackling our contemporary security challenges, not only within the shores of our Country but also in the West African sub-region.

“Despite our budgetary constraints amidst the prevailing economic situation, the acquisition of these aircraft, amongst other military equipment, is an expression of our commitment to enhanced national security. We shall ensure that every sector of our nation experiences the change that we have promised.”

The Chief of the Air Staff (CAS), Air Marshal Hasan Abubakar, said the induction ceremony was a clear testament to the federal government’s unwavering commitment to strengthening the capabilities of the Nigerian Air Force, and the entire Armed Forces of Nigeria, towards combating terrorism, armed banditry, oil theft, and other security challenges confronting our dear nation.

He stressed that the dynamic security landscape of the nation demands an agile, well-equipped, and responsive air force capable of rapid deployment across multiple theatres.

This reality, he said, underscored the need for continuous investment in modern platforms to bolster the Nigerian Air Force’s capacity to deliver air power across all spectrums of warfare.

The CAS said the successful acquisition of the Agusta Westland (AW) 109 Trekker Helicopter was a significant leap in its modernisation efforts.

According to him, “It is noteworthy that from 2024 to date, the Nigerian Air Force has received a total of nine brand new aircraft into its inventory, comprising four T-129 ATAK helicopters, three King Air 360i aircraft, as well as the two Augusta 109S Trekker Helicopters being inducted today.

“Furthermore, in line with Mr. President’s firm commitment towards Nigeria’s security, the Nigerian Air Force is poised to receive 49 more aircraft within the next two years. These include 10 additional Augusta 109 Trekker helicopters, 12 AH-1Z attack helicopters, 24 M-346 fighter and ground attack aircraft, and three CASA–295 medium airlift aircraft.”

These acquisitions, the CAS said, would significantly bolster their precision strike, ground attack, and air mobility capabilities to support their counter-terrorism and counter-insurgency operations.

He also revealed that eight pilots and 18 engineers, and technicians had been trained for the effective deployment of the A109S Trekker helicopters.
This, Abubakar said, was in addition to air and ground crew currently undergoing specialised training abroad.

Meanwhile, the Military had while cautioning against what it called, “reckless dissemination of fake content and propaganda materials”, warned that those behind such disinformation campaigns will be identified and held accountable in accordance with the law.

The military also expressed its full commitment and unwavering efforts to defend the sovereignty and territorial integrity of the nation, stressing that troops in the North-east and across all theatres of operations remain resolute and are making significant progress in dismantling terrorist networks.

Reacting to a viral video alleging that a military formation was overran in Marte, Borno State, and many soldiers were killed, the Director of Defence Media Operations, Major General Markus Kangye, in a statement described the video footage as fake.

Kangye said: “The attention of the Armed Forces of Nigeria has been drawn to a video currently circulating on social media, falsely presented as footage from the recent attack on troops in Marte, Borno State. Following a thorough analysis by relevant authorities, it has been confirmed that the video is not related to the Marte incident in any form. The visual content, terrain, and operational context clearly indicate that the footage is from an occurrence at a different location, which was first posted on 7 December 2020.

“The video clips are being deliberately recycled and manipulated by criminal elements and sympathizers of terrorist groups to mislead the public and sow seeds of fear, while aiming to dissuade the public from the gains being recorded by troops of the AFN in the ongoing operations across the country.

“For the avoidance of doubt, troops of the AFN in Marte came under attack on Monday, 12 May 2025, at about 0300 hours. However, the troops were able to repel the terrorists after a fierce gun battle, with a large number of terrorists neutralized while others escaped with bullet wounds. Following this, the terrorists resorted to sharing an old clip as propaganda to mislead gullible members of the public.”

The military authority said this act of misinformation is not only malicious but also a failed attempt to demoralise gallant troops and undermine the confidence of Nigerians in the Armed Forces.

To this end, the military urged the public to disregard the fake video and rely only on official sources for verified information on military operations, stressing that the support and cooperation of all Nigerians remain vital in the collective fight against terrorism and all forms of insecurity.

In the meantime, Tinubu has stressed his administration’s resolve towards countering the insurgency in parts of the country, stressing that he will not condone any form of evil against the citizenry.

The President stated this when he received a delegation of the Charismatic Bishops Conference of Nigeria led by its General Secretary, Archbishop Chivir Chianson at the State House, Abuja.

Represented by Bwala, Tinubu said the security agencies were ready with renewed commitment to restore safety and security to every part of the country, stressing that the fight against insecurity will be holistic.

According to him, “This administration is committed to addressing insecurity and will not tolerate any form of evil. Crime is crime and has no religious or tribal colouration. The security forces have fresh marching orders to deal decisively with all criminal activities.

“We are engaging with state governors to address root causes of insecurity. It may exist to a certain degree but rest assured that we are committed to ensuring citizens can pursue their dreams in a secured environment.”

He, however, stressed the need for a broad-based national consensus to deal effectively with the scourge where everyone agrees that evil is evil and crime is crime, without shielding or politicising it.

Hot Source
All News
May 17, 2025
0 views

At Dele Momodu’s Lecture, Obasanjo Urges Collective Action to End Poverty

Chuks Okocha in Abuja and Dike Onwuamaeze in Lagos

Former President Olusegun Obasanjo yesterday, declared that Nigeria could get rid of abject poverty and hunger if its leaders exhibit integrity, discipline and good governance, stressing that the country was much endowed in human and natural resources to be poor.

Obasanjo made this declaration yesterday in a lecture he delivered at the Nigerian Institute of International Affairs, Lagos, during the Dele Momodu Leadership Lecture with the theme, “How to End Hunger and Poverty in Africa.”

He said the problem of Nigeria and Africa was not relative poverty, where people are poor but could eat adequately, but abject poverty that deprives people food and keep them hungry with empty stomach.

According to him, security, education and good leadership are the three elements needed to make abject poverty a thing of the past in Nigeria and rest of Africa.
He, therefore, recommended that Nigeria must bring into its formal educational system over 44 million out-of-school children in order to develop their natural endowment and empower them for productive life.

Obasanjo said: “I was born and bred in a village. We were poor but were not hungry. I believe that those who planned this programme have in mind abject poverty, which is ignoble and extremely bad.

“We will differentiate abject poverty, which goes along with hunger, from relative poverty that may not go with hunger.

“We can agree that ending abject poverty will end hunger and ending hunger will have implications for ending abject poverty.”

He traced the fundamental cause of poverty and hunger to how a society explores, exploits and distribute its resources.

He said that no human being was born without certain innate abilities that could be developed for personal, family, community and national enhancement.
“It is the ability to develop those innate abilities that determines whether one is poor or not,” Obasanjo said, adding that education is the basic instrument for banishing poverty and hunger and is also the basis for individual cognitive development, skill acquisition, empowerment, employment, and wealth creation.
“Education is fundamental. It is the first and most potent instrument for banishing poverty.

“Where there is no empowerment in terms of education, you are handicapped as an individual. Where there is no education, invariably there will be poverty. And where there is poverty, there will be hunger,” he said.

He added: “We must ensure that no child lacks access to education. Lack of education for a child gives that child a high probability of being abjectly poor and hungry.”

Obasanjo also identified leadership, particularly in the political sector as the most potent instrument for tackling poverty and hunger.

“Leadership matters most and is the greatest weapon for ending poverty. There is no human organisation that thrives without leadership, especially political leadership. Like Jesus, a leader’s life and history must be an open book,” he added.

Obasanjo averred that, “with integrity, discipline, good governance, as well as elimination of corruption and waste, Nigeria can get rid of poverty within a decade and a half.

“We have 44 million that should be in school but are not. If we are going to eliminate hunger we must get all those children into schools.

“I believe that if we do it well, within 15 years we can get our population almost 100 per cent educated. But to do that we need the right leadership.

“If we have that and with the elimination of corruption and waste, Nigeria can get rid of abject poverty and hunger within a decade and half.

“We have human and non-human material to banish poverty and hunger and what that applies to Nigeria applies to other countries in Africa.”

Obasanjo also warned that Nigeria is sitting on a keg of gunpowder by not taking “the responsibility of educating the uneducated and integrating them into constructive, productive and gainfully engage them within the society, the uneducated and unemployed will take care of us all a unpleasantly as they can make it.
“To be forewarned is to be fore armed. We should create no room for the poor and the hungry because in desperation their fury will be uncontrollable.

“The good news is that God has endowed us with adequate resources and I believe that we should pray God who has endowed us with all the resources that He should also endow us with leadership for a great leap forward for Nigeria and Africa.”

In his goodwill message, the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, said ending poverty and hunger was in the hands of every Nigerian citizen and that it was about time for us to be serious.

He said: “I am used to think is there anything fundamentally wrong with the black man?”

Speaking in the same vein, the Governor of Osun State, Senator Ademola Jackson Adeleke, attributed bad leadership to people not having the fear of God.
He said: “If you have the fear of God you will do the right things. If you have the fear of God and you know what you are doing is not the right thing you will change your mind and do the right thing.”

Meanwhile, former Governor of Anambra State and the presidential candidate of Labour Party in the last general election, Peter Obi, has reiterated his belief that Africa has no business with poverty.

He restated that what Africa needs at the moment to uplift the people out of poverty was a citizen-led governance that prioritises the welfare of its people,
Obi who took to his X account to narrate his discussions with the publisher of the Ovation magazine, Momodu as he marked his 65th birthday said, ”In my discussion with Chief Dele today (Thursday), my position on the hunger and poverty of Africa remains that Africa should have nothing to do with hunger, but should actually be a powerhouse for the supply of food in the world.”

According to Obi, ”Early this morning, I had the honour of visiting my very dear elder brother and committed patriot, Chief Dele Momodu, at his house in Lagos.
”This visit was in celebration of his 65th birthday and to discuss the forthcoming birthday leadership lecture titled “How to End Hunger and Poverty in Africa” to be delivered by former revered President of Nigeria, Chief Olusegun Obasanjo and former President and committed democrat Goodluck Jonathan as guest of honour.”, Obi stated.

He continued, ” In my discussion with Chief Dele today, my position on the hunger and poverty of Africa remains that Africa should have nothing to do with hunger, but should actually be a powerhouse for the supply of food in the world.

”Africa is the second biggest continent in land size, with over 30 million square kilometres of land, and also has the highest population of young people, with over 1 billion young people.

”Africa also has the highest uncultivated arable land of any continent, with about 60 percent of arable land in Africa being uncultivated.

To give more examples why Africa should have nothing to do with hunger or poverty,
”Africa’s rice production is about 26 million tonnes, while Bangladesh, with less than 0.5 percent of Africa’s land (148,000 square km of land), produces over 55 million tonnes of rice. Similarly, India, with about 10 percent of Africa’s size, produces about 5 times more rice than Africa.

”From these scenarios, it is evident that Africa needs to have room to increase its agricultural production, and produce more food to be able to feed its citizens, it’s factories and for export purposes.

”All Africa needs is to have a citizen-led governance that prioritises the welfare of its people, by investing in the critical areas of development,” Obi stressed.