2027: The Challengers 

The Men Who Could Face President Tinubu

Olawale Olaleye and Ejiofor Alike

The battle for the 2027 presidency has begun to build up, albeit with fluid permutations as some of the presidential hopefuls in the National Opposition Coalition Group, led by former Vice President Atiku Abubakar and ex-Kaduna State Governor, Nasir El-Rufai, are still pondering the options before them.

While President Bola Tinubu is potentially the candidate of the ruling All Progressives Congress (APC), in view of the gale of endorsements of his candidacy, the opposition coalition is yet to perfect crucial decisions to boost their chances in the election, except the June 19 application to the Independent National Electoral Commission (INEC), seeking for the registration of a new political party—the All Democratic Alliance (ADA).

The ruling APC had endorsed President Tinubu for another term of four years, after governors of the party led by the Imo State Governor, Hope Uzodimma, had earlier adopted and endorsed him as their candidate for the 2027 presidential election.

Following this was a coterie of endorsements by several private individuals and opposition figures, after citing his many bold reforms.

On the part of the opposition seeking to upstage Tinubu and the APC in the 2027 elections, a lot is yet to be done.

However, it had resolved to form a new party instead of flying the flag of an existing one to prosecute the 2027 presidential election battle.

But the other elephant in the room of the opposition is the decision on whether to zone the presidential ticket to the south, which is in sync with the mood of the nation.

Directly connected to this is whether to zone the ticket to the north for a balance of the geo-political zones in the election.

However, this option is against the mood of the nation after the eight years of Muhammadu Buhari, a northerner.

While this internal extrapolations by the coalition subsisted, some members of the opposition have either begun to show interest in the presidency or are being considered by other members of the larger group.

Although they are a blend of the southern and northern aspirants, some of them are directly pushing their aspiration, while some are being goaded on by their compatriots. At the same time, some are still dilly-dallying on whether to run or not.

Below are some of the names that are being considered head-to-head with Tinubu, and how they stand in the subsisting equation, which is yet to fully take off.

Goodluck Jonathan – The Relunctant Candidate

The popularity rating of former President Goodluck Jonathan has soared since he was defeated by Buhari in 2015 due to certain factors.

First was the manner in which he relinquished power without a fight. This endeared him to the international community especially. Two, he had undertaken many regional and global assignments, which he discharged very well.

Three, there is the factor of the better living conditions that Nigerians experienced during his tenure, which is being used as a parallel today. The condition then was one of the things canvassed against him by the opposition.

Jonathan is being urged to challenge Tinubu and return to office. This calculation is based on the fact that he is the only southerner constitutionally bound to run for just a term of four years.

It is, therefore, believed that the north may back him more than any other person for this singular reason. Indeed, many people had met him over this, but he has refused to give any concrete answer.

However, the recent statement by his wife, Patience Jonathan, that her husband would not contest against Tinubu might have damaged that option.
But he is one aspirant that could give Tinubu a really tough time if he indicates interest to run.

Atiku Abubakar – Waiting for the Marabout

Former Vice President Atiku Abubakar, has earned the moniker as Nigeria’s veteran presidential election contestant. He has contested unsuccessfully for the President of Nigeria at six different election cycles: 1993, 2007, 2011, 2015, 2019 and 2023.

Atiku’s closest chance to become president was in 2019 and 2023. He came to a close second in 2023 with a total of 6,984,520 votes behind the incumbent President Tinubu, who scored 8,794,726 votes, the lowest in contemporary history that any president ever polled.

But there are forces in the opposition coalition, who feel that Atiku has had his time and that others have served him long enough. His ambition to be president is largely believed to be responsible for the crisis in the Peoples Democratic Party (PDP).

Many of the governors and other stakeholders do not want to work hard to put the party in shape, only for Atiku to come and ‘grab’ the ticket again.

Besides, a majority of them still believe in the zoning principle and therefore hold the view that power must remain in the south, a decision that is evidently counter to Atiku’s interest.

Peter Obi – Hopeful Candidate

A two-term former governor of Anambra State, Mr. Peter Obi, took the political scene by storm when he contested alongside President Bola Tinubu and Atiku in 2023. He, however, came third with a total of 6,101,533 votes on the platform of the Labour Party (LP). He was closer to Atiku than he was to Tinubu in that election.

Obi, though enjoyed goodwill and mass appeal from the youth population, who constitute a good percentage of the voting population, his presidential voyage was considered a misadventure by many of the political strategists, who still believed that had he waited behind to work with Atiku, the Emi lo kan catchphrase would have remained a dream.

The South-east is a known PDP stronghold and has never produced a president since 1999. But by coming out in 2023 to vie for the presidency from that part of the country, Obi secured the home zone advantage, which depleted Atiku’s votes and consequently handed Tinubu victory.

Obi is believed to be back in the race but it is not clear if he still enjoys the same goodwill as he did in 2023 among the youths. It is also not certain if the north would support any southerner who is constitutionally entitled to two terms of eight years after Tinubu’s four years.

Bukola Saraki – On the Sidelines

A former Senate President, Dr. Abubakar Bukola Saraki, is a formidable force in Kwara State, and two-term governor of the state.

With a good knowledge of national politics, Saraki, who had also been the Chairman of the Nigerian Governors’ Forum, contested the May 2022 presidential primary of the PDP and came third after Atiku Abubakar and Nyesom Wike.

In spite of losing Kwara State to the APC in the 2019 elections, Saraki has remained a popular figure, both in Kwara and national politics.
Unfortunately, the part of the country he hails from has always been a disadvantage of sort.

While the core north does not think North-central where Saraki hails from, should be considered for presidency if the position is zoned to the North, the south, even though he boasts a Yoruba name, neither thinks he belongs to it.

In the current extrapolation, however, a Saraki, with one leg in the north and the other in the south, appears a typical compromise candidate in the event of a stalemate.

However, he has not indicated interest to run in 2027.

But it would take more than such surface-scratching analysis to take on a Tinubu. Though Saraki is capable in terms of strategy, capacity and ability to think on his feet, the subsisting political equation seems to be against him.

Rabiu Kwankwaso – Challenger from Kano

A former Minister of Defence and two-term governor of Kano State, Rabiu Kwankwaso, is unable to unsettle any serious political applecart in any part of the country beyond Kano.

Though he has established himself as the political leader of Kano State with grassroots support, his control of the state is currently shaky.
Kwankwaso, leader of Kwankwasiyya, a grassroots political movement, which recently attracted membership of 24 retired military officers of Kano origin, has always had an eye on the presidency.

He contested the 2023 presidential election on the platform of the New Nigeria People’s Party (NNPP) and came a distant fourth with 1,496,687 votes.
As it is, his political future is unknown due to the leadership crisis rocking his party, the NNPP, and the fact that he has not identified with the opposition coalition.

 He is the least of Tinubu’s problems, though Kano is crucial to any presidential race. The president’s men are believed to be containing Kwankwaso in Kano.

Chibuike Amaechi  –  Table Shaker

One of the politicians who has served the longest in Nigeria’s history is Rotimi Amaechi. A former speaker of Rivers State House of Assembly, two-term governor of Rivers State and former Minister of Transportation for eight years, Amaechi comes to the race with requisite experience.

Many of those he trained and who rose through him are currently doing well in various political spaces and in personal capacities. This includes the current Minister of the FCT, Nyesom Wike, a man he nursed from his political cradle to stardom.

 
Amaechi contested the June 2022 presidential primary of the APC and came a distant second with 316 votes, trailing behind Tinubu, who garnered 1,271 votes to emerge the winner.

Amaechi defeated 11 other aspirants, including former Vice-President Yemi Osinbajo. He is one of the few men with courage, who has on a few occasions, criticised the Tinubu administration for the hardship it has brought on the Nigerian people. He also stood against his declaration of emergency rule in his state, Rivers, describing it as unconstitutional.

Amaechi’s presidential dream is no longer in the closet. It is also why he has been part of the coalition talks. Like other potential choices from the South, it is not certain if the North will support another southerner being in office for eight years after Tinubu’s four years.

Although his allies are saying Amaechi is so credible that if he had an understanding to serve for four years, he would never renege on his honour. But that is still not enough. Will the North ever trust anyone again after Jonathan allegedly reneged on a similar agreement? 

Nasir El-Rufai – Disruptor

Former Minister of the Federal Capital Territory (FCT) and ex-Kaduna State governor, Nasir El-Rufai, is among the strong members of the opposition coalition seeking to unseat President Tinubu in 2027.

Though he has not in any way indicated interest in the 2027 presidential election, he is ready to provide support to unseat Tinubu. Many, however, believed that El-Rufai is still nursing an ambition to pair with a southern candidate, knowing that such a running mate may ultimately inherit the presidency afterwards.

El-Rufai’s grievances against the president stemmed from the Senate’s refusal to confirm him as minister allegedly on the ‘order from above’.

Unable to take the pain and the embarrassment the refusal to clear him had caused his person, he has remained unconsolable and determined to take revenge against Tinubu and the APC in 2027.

 However, the killings in southern Kaduna when he was governor diminished his political fortunes.

Ibrahim Shekarau – Calm before the Storm

Another two-term former governor of Kano State, Ibrahim Shekarau, is a major force in Kano politics.

A former Minister of Education, he is the Chairman of the League of Northern Democrats (LND), a political movement established by a coalition of northern elites interfacing with the opposition coalition on the 2027 talks.

Although Shekarau has not indicated interest in the presidency, he is one of the northern forces who had vowed to send Tinubu back to Lagos in 2027.

However, like Kwankwaso, Shekarau does not seem to constitute any threat to Tinubu, as the mood of the nation favours the presidency remaining in the South in 2027.

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    NUPRC Approves 94 Decommissioning, Abandonment Plans, Total FDP Liabilities Hit $4.4bn in Two Years

    NUPRC Approves 94 Decommissioning, Abandonment Plans, Total FDP Liabilities Hit $4.4bn in Two Years

    •Secures over $400m in pre-sale obligations 

    •Commission vows to ensure safeguarded divestment, smooth assets sale transition 

    •Compliance with industry audits mandatory, says NEITI

    Emmanuel Addeh in Abuja and Peter Uzoho in Lagos

    The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday disclosed that it has approved 94 Decommissioning and Abandonment (D&A) plans since April 2023, representing total liabilities of $4.424 billion, arising from all Field Development Plans (FDPs) submitted within this period.

    The commission stated that this was done in strict alignment with the Petroleum Industry Act (PIA) 2021, explaining that these liabilities would be remitted progressively over the production life of the respective fields into designated escrow accounts.

    The Chief Executive of the commission, Gbenga Komolafe, who made the disclosure during his remarks at the Nigerian Extractive Industries Transparency Initiative (NEITI) Companies Forum in Lagos, explained that over $400 million in decommissioning liabilities had already been secured by the organisation.

    Maintaining that the NUPRC under him was setting stricter rules for recent asset transfers, Komolafe who was represented by the Deputy Director, Human Resources, Corporate Services & Administration, Efemona Bassey, noted that Nigeria was applying lessons from costly global divestment cases to safeguard its oil and gas sector.

    Komolafe spoke on the theme: “Divestments, Liabilities, and the Impact of Ongoing Reforms on Extractive Companies in Nigeria,” a statement in Abuja by NUPRC’s Head of Media and Strategic Communications, Eniola Akinkuotu stated.

    The NUPRC chief said the commission had drawn lessons of divestments from the North Sea, where decommissioning was estimated at £27 billion by 2032; the Gulf of Mexico costing over $9 billion and in Canada’s Alberta, where more than 97,000 inactive or abandoned wells now carry an estimated decommissioning and abandonment cost of between C$30 billion and C$70 billion.

    In Australia, Komolafe stated that Northern Oil & Gas Australia in 2019 left behind liabilities of more than AU$200 million.

    He stated that the lessons from these experiences guided the recent divestment approvals from NAOC to Oando Energy Resources; Equinor to Chappal Energies; Mobil Producing Nigeria Unlimited to Seplat Energies; SPDC to Renaissance Africa Energy; and TotalEnergies to Telema Energies.

    He added: “Without a robust and enforceable framework for abandonment and decommissioning, divestment transitions can create lasting financial and environmental burdens.

    “Nigeria is not immune to this challenge, and if we are to avert costly mistakes. It is precisely to avoid this outcome that Nigeria, through the Petroleum Industry Act and subsequent regulatory actions, has taken bold and decisive steps.”

    The NUPRC boss highlighted Nigeria’s response to the recent divestments in line with Sections 232 and 233 of the PIA which place full responsibility for the decommissioning and abandonment of petroleum wells, installations, structures, utilities, plants, and pipelines on licensees and lessees.

    According to him, each of the 2024 divestments provided a critical opportunity to put the commission’s divestment framework to test and action, rigorously assessing the technical capacity of acquiring entities, verifying their financial strength, and securing decommissioning and abandonment obligations through upfront escrow arrangements.

    Komolafe said, “The results from 2024 speak for themselves. Over $400 million in pre-sale decommissioning and abandonment liabilities have been secured through Letters of Credit and escrow accounts. Host Community Development Trust (HCDT) obligations are fully honoured. Environmental remediation commitments worth over $9.2 million have been pledged while awaiting the formal gazetting of the ERF regulations.”

    The CCE said beyond the significant progress achieved through the divestment framework, it was important to highlight another milestone.

    “Since April 2023, we have approved 94 D&A plans, in strict alignment with the PIA. These approvals represent total liabilities of $4.424 billion, arising from all Field Development Plans submitted within this period, and will be remitted progressively over the production life of the respective fields into designated escrow accounts,” he added.

    He further disclosed that the commission has addressed a long-standing concern with the International Oil Companies (IOCs) regarding the domiciliation of the escrow accounts; and the regulatory framework, developed after extensive consultations with industry stakeholders, is now awaiting gazetting by the Ministry of Justice.

     In addition to divestments, the commission, he said, has been working with operators on life extension projects, ranging from facility integrity audits to subsea upgrades and enhanced reservoir management measures that sustain safe production, delay decommissioning, and reduce environmental risks.

    Also at the forum, NEITI reaffirmed that compliance with its mandatory industry audit process is not optional but a legal obligation for all companies operating in Nigeria’s extractive industries.

    Speaking at the opening session, the Executive Secretary of NEITI, Dr. Ogbonnaya Orji, stressed that transparency and accountability are not only national requirements but also critical pillars for building investor confidence, strengthening citizens’ trust, and aligning Nigeria’s extractive practices with global standards.

    Orji explained that compliance with NEITI’s audit process underpins efforts to improve Nigeria’s business environment and attract sustainable international investments, a statement by the organisation’s Director of Communication & Stakeholders Management, Obiageli Onuorah, noted

    He noted that the NEITI companies forum had become a strategic platform for forging closer partnerships with companies in the oil, gas, and mining sectors, focusing on: data disclosure on company payments and beneficial ownership transparency.

    Besides, Orji listed contract transparency; sub-national fiscal sustainability as well as climate change, and multi-stakeholder collaboration as some of the reasons for the platform.

    He announced that work on the 2024 NEITI Industry Reports had already commenced and will be concluded before the end of the year, urging companies to ensure full and timely compliance to meet reporting deadlines.

    Also, the Chairman of the NEITI Companies Forum, Mr. Gwueke Ajaifia, described the proliferation of demands for data and payments from multiple agencies as a key factor frustrating the business environment. He called on NEITI to escalate the matter to the federal government.

    The President of the Miners Association of Nigeria and Deputy Chairman of the Forum, Mr. Dele Ayanleke, commended NEITI for establishing the Companies Forum and urged the agency to leverage its multi-stakeholder framework and international affiliations to ensure that the industry’s concerns are promptly addressed to restore investors’ confidence.

    The post NUPRC Approves 94 Decommissioning, Abandonment Plans, Total FDP Liabilities Hit $4.4bn in Two Years appeared first on THISDAYLIVE.

    ​  

    •Secures over $400m in pre-sale obligations  •Commission vows to ensure safeguarded divestment, smooth assets sale transition  •Compliance with industry audits mandatory, says NEITI Emmanuel Addeh in Abuja and Peter Uzoho
    The post NUPRC Approves 94 Decommissioning, Abandonment Plans, Total FDP Liabilities Hit $4.4bn in Two Years appeared first on THISDAYLIVE.

    UK Finance Institution, Firm Launch Facility to Advance Mini-grid Use in Nigeria

    UK Finance Institution, Firm Launch Facility to Advance Mini-grid Use in Nigeria

    Emmanuel Addeh in Abuja

    British International Investment (BII), the UK’s development finance institution and impact investor, and Odyssey Energy Solutions, a technology company accelerating distributed energy in emerging markets, have launched a new financing facility to support the rollout of electricity mini-grids for families and businesses across Nigeria.

    With $7.5 million funding from BII, the facility leverages Odyssey’s proprietary procurement platform and supply chain credit solution to support mini-grid developers, a statement in Abuja said.

    The finance will be deployed to support Nigeria’s Distributed Access through Renewable Energy Scale-Up (DARES) programme backed by the World Bank, which aims to improve energy access for 17.5 million Nigerians.

    Specifically, Odyssey works to bridge the gap between commitment and disbursement of DARES connections-based subsidies by addressing the financing bottleneck of upfront costs such as acquiring equipment and import duties.

    Through this offering, developers can procure high-quality solar and energy storage equipment with minimal upfront capital, paying back as projects reach revenue-generating milestones, the statement added.

    This provides some key benefits for Nigerian solar companies including: Competitive pricing through aggregated procurement; flexible payments, improving working capital; faster procurement cycles, accelerating deployment timelines; end-to-end logistics support, from customs to last-mile delivery and high-quality, vetted equipment, ensuring system reliability.

    The new facility comes at a critical time, as Nigeria ramps up its mini-grid ambitions under the DARES programme, backed by the World Bank. With DARES endeavouring to improve energy access for 17.5 million Nigerians, the demand for streamlined procurement and innovative financing is more urgent than ever, it said.

    The new facility, it said, has the potential of scaling up to meet the demand generated by the  programme by partnering with a growing network of qualified developers and suppliers to accelerate project execution and reduce time to electrification.

    British Deputy High Commissioner, Lagos,  Jonny Baxter, said: “British International Investment (BII) has demonstrated its confidence in Nigeria’s clean energy sector through its strategic investments. This is a signal that opportunities for the private sector to drive forward the renewable energy revolution in Nigeria and across Africa are growing.

     “UK finance is playing a pivotal role- helping to unlock green growth and establish Britain as a credible global partner on climate action in line with our Enhanced Trade and Investment Partnership (ETIP) with Nigeria.”

    West Africa Regional Director at BII, Benson Adenuga, said: “About 90 million people in Nigeria do not have access to electricity. Mini-Grids powered by clean and affordable energy sources have a vital role to play in rapidly reducing that number. I am delighted that BII is partnering with Odyssey to accelerate the development of such projects.”

    Also, Piyush Mathur, Co-Founder and Managing Director of Odyssey Energy Solutions, said: “BII has demonstrated a progressive and practical approach to unlocking financing challenges in distributed energy.

     “Their support allows us to offer flexible, affordable financing options that meet developers where they are, so that we can collectively accelerate electrification across Nigeria.”

    With more than 3,000 installers and over $3 billion of available finance on the platform, Odyssey Procurement is the latest addition to Odyssey’s end-to-end platform, built to rapidly accelerate the clean energy transition in emerging markets.

    By integrating procurement, financing and monitoring into a single solution, Odyssey streamlines the solar project lifecycle—enabling companies to scale more quickly, operate efficiently, and deliver clean energy faster than ever before.

    The post UK Finance Institution, Firm Launch Facility to Advance Mini-grid Use in Nigeria appeared first on THISDAYLIVE.

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    Emmanuel Addeh in Abuja British International Investment (BII), the UK’s development finance institution and impact investor, and Odyssey Energy Solutions, a technology company accelerating distributed energy in emerging markets, have
    The post UK Finance Institution, Firm Launch Facility to Advance Mini-grid Use in Nigeria appeared first on THISDAYLIVE.

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