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PDP Govs to Party Faithful: Resist Attempts by Anti-party Forces to Derail Convention

PDP Govs to Party Faithful: Resist Attempts by Anti-party Forces to Derail Convention

*Accuse APC of intimidation, anti-democratic actions in last by-elections

*Commend resilience of members in overcoming defections

Chuks Okocha in Abuja

The governors elected on the platform of the Peoples Democratic Party (PDP) have urged the members of the party to resist all attempts by those they described as anti-party forces to derail the November 15 National Convention of the party to be held in Ibadan, the Oyo State capital.

While commending the resilience of the leaders and members of the party in overcoming “orchestrated” defections, the governors also hailed members of the party for their loyalty in the face of intimidation and anti-democratic actions of the government led by the All Progressives Congress (APC).
In a communique issued yesterday at the end of their meeting in Gusau, the Zamfara State capital, the governors, who met under the aegis of the PDP Governors’ Forum (PDP-GF), also urged the party faithful to see the main opposition party as the only democratic institution and viable alternative for restoring Nigeria along the path of good governance and national development.

According to the communique signed by the Chairman of the forum, and Governor of Bauchi State, Senator Bala Mohammed, the governors “extensively deliberated on the state of the nation, the security situation, the erosion of democratic values, as well as ongoing efforts to reposition the party and make adequate preparations for its forthcoming national convention”.
“The forum expresses profound gratitude to members and supporters of the PDP nationwide for their steadfast loyalty in the face of serious intimidation and untold anti-democratic actions of the APC-led federal government in the last by-elections.

“The forum commends the resilience of PDP leaders and members in overcoming orchestrated defections, stressing that such distractions cannot diminish the party’s strong grassroots appeal or the growing public yearning for the return of affordable living and relative security experienced under PDP-led administrations,” the governors said.
The governors urged the PDP members and the entire citizenry to hold fast to the vision and principles of the party, in spite of what they described as growing intimidation of the opposition by the government in power.
“This sad situation should only be seen as the sign of the desperation of a political party with no agenda, no vision, and doomed to face inevitable rejection by the masses,” the governors added.

The governor reaffirmed their full commitment to the resolutions of the 101st National Executive Committee (NEC) meeting of the party held in July 2025 regarding the November 15 National Convention.
They urged the members of PDP “to resist all attempts to derail the convention by anti-party forces” and “see the PDP as the only democratic institution and viable alternative for restoring Nigeria along the path of good governance and national development.”
The camp of the Minister of the Federal Capital Territory (FCT), Nyesom Wike, had declared that it was not aware of the planned national convention.

Wike also gave conditions to participate in the national convention, insisting that the outcome of the South-south Zonal Congress of the party held in Calabar, Cross River State, which saw the return of the former Vice Chairman, Chief Dan Orbih, must be recognised. 
The National Working Committee (NWC) of the party had rejected the outcome of the congress and appointed a caretaker committee headed by Emmanuel Ogidi as the chairman of the South-south zone of the party.
But the former Rivers State governor warned that a fresh crisis could erupt if the PDP refused to acknowledge the zonal congress that elected Orbih as National Vice Chairman, South-south.
He said, “Well, it is over for now. There are a few things remaining, and I have told them that they must do it. Our congress was held in Calabar, and there’s nothing anybody can tell us. If they want to have another round of crisis, so be it. In that congress, Chief Dan Orbih emerged as the National Vice Chairman. They never wanted congress to hold, but congress was held.

“The so-called acting national chairman of the party wrote a letter to INEC after the congress held that the congress had been postponed. There is no two ways about it. The National Vice Chairman of PDP South-south is Chief Dan Orbih. If they don’t agree, that’s another round of crisis,” he threatened.
Wike also argued that the party must deal with its South-East zonal chairman, Ali Odefa, who had been sacked from the party by an order of a court of competent jurisdiction.
“The South-east vice chairman, Ali Odefa, is no longer a member of the party. These are the things I tell people. What I don’t like is impunity. And for someone like me, we will not condone it. I will not allow it. We will fight it except they correct it.’’
Wike added that the national convention being put together by the party might end up in crisis if the anomalies in the PDP were not corrected.

“They said that they are going for their convention in November. I am not part of it until they have corrected it. Let us wait; there is still time for them to resolve it. Before you talk about the convention, resolve the matter. If the matter is not resolved, there will be a crisis,” Wike reportedly added.
However, in the communique, the PDP governors reaffirmed the party’s commitment to rescue Nigeria and Nigerians from the “divisive governance style of the APC, whose policies have continued to cause more hardship and misery on the people.”
On the issue of insecurity, the governors commended the initiatives by the government of Zamfara State in significantly curbing insecurity within the state.
While condemning the continued monstrous killings in Katsina, Plateau, Niger, and Benue states, as well as in other parts of the country, the PDP governors called on the federal government to be more responsive to the lives of the citizenry.
They alleged over-militarisation of the last by-elections, saying the elections were characterised by widespread irregularities, vote buying, and violence.

The governors called on Nigerians to be more circumspect in protecting their votes.

The PDP governors lauded the government and people of Zamfara State for their uncommon hospitality and also congratulated Governor Dauda Lawal on his exemplary leadership and notable achievements in infrastructure, health, education, other social services, and security.

“The forum commiserates with the Government and people of Zamfara State on the passing of the Emir of Gusau, and equally with the Government and people of Oyo State over the recent loss of traditional rulers,” the communique added.

The governors in attendance include: Mohammed (Bauchi), Lawal (Zamfara), Agbu Kefas (Taraba), Ahmadu Umaru Fintiri (Adamawa), Seyi Makinde (Oyo), Douye Diri (Bayelsa), and Ademola Adeleke (Osun).

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*Accuse APC of intimidation, anti-democratic actions in last by-elections *Commend resilience of members in overcoming defections Chuks Okocha in Abuja The governors elected on the platform of the Peoples Democratic
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Despite Macroeconomic Headwinds, 15 Nigerian Companies Post N12.7tn Revenue in H1 2025

Despite Macroeconomic Headwinds, 15 Nigerian Companies Post N12.7tn Revenue in H1 2025

Kayode Tokede

Despite grappling with macroeconomic headwinds, Nigeria’s biggest companies have remained resilient, with 15 of them, including Dangote Cement, MTN Nigeria, and Seplat Energy, generating a combined revenue of N12.7 trillion in the first half (H1) of 2025.
According to their unaudited financial results for the six months ended June 30, the figure represents a 44.3 per cent increase from the N8.82 trillion earned in the same period of 2024.
The companies cut across critical sectors—cement production, oil and gas, power generation, fast-moving consumer goods (FMCG), and telecommunications, underscoring the broad base of Nigeria’s private sector resilience.
The performance comes at a time when Nigeria’s economy was inching toward stability.
Headline inflation eased to 22.22 per cent in June 2025, due largely to the Central Bank of Nigeria’s (CBN) monetary tightening.
Though foreign exchange volatility persisted, recent trends signal tentative market confidence.
A slight uptick in oil production also boosted fiscal revenues and foreign reserves through higher inflows and more disciplined forex management.
At the top of the table is MTN Nigeria Communications Plc, which posted a staggering N2.38 trillion in revenue, up 54.5 per cent from N1.54 trillion in the same period last year.
Close behind is Seplat Energy Plc, which posted N2.17 trillion, a jaw-dropping 277 per cent increase over N575.05 billion posted in H1 2024.
Dangote Cement Plc rounded off the top three, reporting N2.07 trillion, or 18 per cent growth from the N1.76 trillion posted in H1 2024.
However, Oando Plc was the only company among the group that recorded a decline, with its revenue slipping 15.3 per cent to N1.72 trillion from the N2.03 trillion posted in the same period last year.
Meanwhile, Nigerian Breweries Plc delivered an impressive performance with N738.14 billion in revenue, up 54 per cent from the N479.77 billion last year.
BUA Cement Plc also posted N580.3 billion, a nearly 60 per cent increase from the N363.9 billion in 2024.
Analysts say the numbers reflect resilience in the face of daunting challenges, though rising costs remain a concern.
“Companies in Nigeria have shown remarkable resilience amid economic difficulties. The relative stability we are beginning to see has had a positive impact on revenue generation,” said an investment banker and stockbroker, Tajudeen Olayinka.
For the Managing Director of HighCap Securities Limited, David Adonri, the mixed results were not surprising. “Nigeria’s economy is still reverberating from CBN’s foreign exchange reforms and contending with inflationary pressures, insecurity, and other challenges. These continue to produce varied outcomes across different sectors,” he noted.
Chief Operating Officer of InvestData Consulting, Ambrose Omordion, added that policy shifts under President Bola Tinubu have been especially tough on manufacturers.
“The reforms initially dragged companies into losses, but we are now seeing signs of recovery as business activity improves and global crude oil prices rise. While 2025 looks promising for listed companies, operating expenditure will keep climbing due to the high cost of doing business,” he explained.

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Kayode Tokede Despite grappling with macroeconomic headwinds, Nigeria’s biggest companies have remained resilient, with 15 of them, including Dangote Cement, MTN Nigeria, and Seplat Energy, generating a combined revenue of
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NNPC Rakes in N478.2bn in Frontier Funds, Management Fees in Seven Months

NNPC Rakes in N478.2bn in Frontier Funds, Management Fees in Seven Months

Emmanuel Addeh in Abuja 

The Nigerian National Petroleum Company Limited (NNPC Limited) recorded a significant inflow of N478.2 billion from its 30 per cent Frontier Exploration Funds (FEF) and management fees in the first seven months of 2025, according to a presentation made by the national oil company to the Federation Accounts Allocation Committee (FAAC) during the August 20 meeting.
The presentation showed that the oil company earned N239.1 billion from its frontier exploration fund within the period, while an additional N239.1 billion was realised as management fees. 
Both revenue streams are directly tied to Nigeria’s Production Sharing Contracts (PSC) arrangements, the presentation document seen by THISDAY showed. 
Section 9(4) of the Petroleum Industry Act (PIA) states that: “There shall be maintained … a Frontier Exploration Fund which shall be 30 per cent of NNPC Limited’s profit oil and profit gas as in the production sharing, profit sharing and risk service contracts.”
In the same vein, in Section 64(c), the PIA provides for NNPC’s role in lifting and selling profit oil and gas on behalf of the Federation.  “NNPC Limited shall promptly remit the proceeds of the sales of the profit oil and profit gas to the Federation, less its 30 per cent for management fees,” it states.
A breakdown revealed that N31.77 billion accrued in January, N38.3 billion in February, and N61.489 billion in March.
In April, the company earned N36.579 billion in both frontier funds and management fees, while in May it was N38.79 billion.
However, inflows fell significantly in June to N6.83 billion, but rose again in July when N25.3 billion was recorded for the two revenue streams.
This brought the cumulative total for frontier fund inflows to N239.1 billion between January and July, while management fees also matched this figure.
Together, the two streams contributed N478.2 billion to NNPC’s revenue pool in seven months.
The inflows represented an improvement in NNPC’s revenue profile, underscoring the company’s central role in financing Nigeria’s upstream expansion drive at a time when the country is continuing exploration in frontier basins such as the Chad, Benue Trough, Gongola, and Anambra basins.
The document further revealed that total PSC distributions to the federation as the share of its 40 per cent PSC funds for the period stood at over N318.8 billion.
Although the NNPC has been silent on the extent of frontier exploration, inflow into the frontier account offers a much-needed financial backing for the federal government’s ambition to expand Nigeria’s oil and gas reserves base. 
With production hovering around 1.5 million barrels per day, according to data from the Organisation of Petroleum Exporting Countries (OPEC), the NNPC is banking on new finds in frontier basins to shore up declining reserves and boost production to three million barrels per day in the medium term.
In Nasarawa, the national company spudded the Ebenyi-A well in Obi Local Government Area in March 2023, marking the state’s first official oil drilling campaign. The well lies within the Middle Benue Trough, a basin that has long been considered prospective but under-explored.

While no commercial declaration has yet been made, the indicators, according to the NNPC, are positive, with deeper exploration activities set to continue.

Bauchi State, on the other hand, hosts the more advanced Kolmani project, situated along the border with Gombe.

In November 2022, the Kolmani Integrated Development Project was formally launched with an estimated $3 billion in investments, envisioned to deliver an initial 50,000 barrels per day of crude.

In addition to the frontier fund, NNPC’s management fee of N239.1 billion in six months further strengthens the company’s financial base.

The fee is retained by the company to cover the costs of administering joint ventures and production contracts on behalf of the federation.

This means that, unlike the old arrangement where NNPC operated as a government agency relying heavily on budgetary provisions, the management fee gives it a steady stream of income independent of federal allocations. 

The July FAAC report, however, also highlighted some variance between budget projections and actual revenues. From January to July, frontier fund and management fee collections recorded shortfalls of N173.3 billion each.

Besides, while interim dividend remittances were supposed to be N552.6 billion during the seven months under consideration, they stood at N318.82 billion, recording a deficit of N233.8 billion during the period.

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Emmanuel Addeh in Abuja  The Nigerian National Petroleum Company Limited (NNPC Limited) recorded a significant inflow of N478.2 billion from its 30 per cent Frontier Exploration Funds (FEF) and management
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Oborevwori Sues for Calm as Itsekiri, Urhobo Youths Clash in Warri, Scores Injured

Oborevwori Sues for Calm as Itsekiri, Urhobo Youths Clash in Warri, Scores Injured

Sylvester Idowu in Warri 

Delta State Governor, Hon. Sheriff Oborevwori, has called for caution and restraint, following reports of a violent clash between Itsekiri and Urhobo youths in Warri South Local Government Area (LGA) of the state.
THISDAY gathered that many people suffered injuries yesterday as youths from the two ethnic groups clashed over alleged claim of territorial ownership in Warri.
The first incident occurred at about 5.30 pm around the popular Ibo market/Okere road when some Itsekiri youths were allegedly attacked by youths from Agbara, an Urhobo community.
THISDAY gathered last night that a similar fracas, for the same reason, occurred at about the same time at Okere market, a border area between Itsekiri and Urhobo communities.
It was learnt that dangerous weapons, including cutlasses, clubs and guns were allegedly deployed by the warring youths from both sides.
Socio-economic activities were paralyzed as stores at the ever-busy areas were hurriedly shut while residents locked themselves indoors.
Operatives of the Nigeria Police and the Nigerian Army had a herculean task bringing the situations under control.
Reacting to the clash, Governor Oborevwori, last night called for caution and restraint.
The governor, in a statement, issued by his Chief Press Secretary, Sir Festus Ahon, appealed to residents and other stakeholders in the oil city to shun all actions capable of disrupting the existing peace and stability in the area.
He assured that his administration remained committed to revitalising infrastructure in Warri, stressing that peace was crucial to unlocking the city’s huge economic potential and sustaining ongoing development efforts.
“We appeal to all stakeholders to support our efforts in revitalising infrastructure in Warri and avoid all acts capable of truncating the current peace in the oil-rich city” the governor said.
Governor Oborevwori urged community leaders, youth groups, and opinion leaders to work together in fostering understanding, unity, and peaceful coexistence among the various ethnic groups.
He reiterated his administration’s resolve to promote inclusive governance and equitable development across the state and assured that security agents were on ground to maintain peace and order.
“We appeal to all stakeholders to support our efforts in revitalising infrastructure in Warri and avoid all acts capable of truncating the current peace in the oil-rich city,” the governor said.
He reiterated his administration’s resolve to promote inclusive governance and equitable development across the state.
He stated that security agents were on ground to maintain peace and order.

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Sylvester Idowu in Warri  Delta State Governor, Hon. Sheriff Oborevwori, has called for caution and restraint, following reports of a violent clash between Itsekiri and Urhobo youths in Warri South
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Again, Dangote Retains Position as Africa’s Wealthiest Man, Tops Forbes’ Real-time Billionaires’ List

Again, Dangote Retains Position as Africa’s Wealthiest Man, Tops Forbes’ Real-time Billionaires’ List

Africa’s richest man and Chairman of Dangote Group, Aliko Dangote, has once again retained his position as Africa’s wealthiest man, topping Forbes’ Real-time Billionaires List with a net worth of $24.4 billion and ranking 88th globally.
The latest ranking, released at the weekend, underscores Dangote’s unmatched dominance in Africa’s wealth hierarchy, where he stands far ahead of his Nigerian peers.
With a net worth of $7.2 billion, Abdulsamad Rabiu emerged as the 516th world’s richest man, while Mike Adenuga took 592nd position with a net worth of $6.3 billion.
Since first appearing on Forbes’ list in 2008, Dangote has remained a fixture, reclaiming his spot in 2011 and holding the title of Africa’s richest man for 14 consecutive years. His fortune, largely driven by cement, sugar, and the landmark petroleum refinery launched in 2023, has reinforced his role as a symbol of Nigeria’s industrial strength.
While Dangote leads, other Nigerian billionaires continue to secure their places. Rabiu, with strongholds in cement and sugar, and Adenuga, with investments in telecommunications and oil, remain prominent players.
In South Africa, luxury goods tycoon Johann Rupert tops the chart at $13.2billion, followed by former diamond boss Nicky Oppenheimer, with $10.4billion.
Others include: Koos Bekker with $3.8billion; mining magnate, Patrice Motsepe with $3.4billion; banker, Michiel le Roux, with $2.7billion; Jannie Mouton and family with $1.9billion, and retail investor, Christoffel Wiese with $1.7billion.
Egypt’s wealthy cohort is headlined by Nassef Sawiris ($8.8billion) and Naguib Sawiris ($5.0billion).
The Mansour brothers, Mohamed ($3.4billion), Youssef ($1.4billion), and Yasseen ($1.2billion), complete the country’s strong showing.
Beyond the three dominant nations, Eswatini’s Nathan Kirsh holds a net worth of $8.0billion.

Morocco contributes three names: Othman Benjelloun & family ($2.0billion), Aziz Akhannouch ($1.6billion), and Anas Sefrioui & family ($1.6billion).

Tanzania’s Mohammed Dewji is worth $2.2billion, while Zimbabwe’s Strive Masiyiwa has $1.3billion

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Africa’s richest man and Chairman of Dangote Group, Aliko Dangote, has once again retained his position as Africa’s wealthiest man, topping Forbes’ Real-time Billionaires List with a net worth of
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Air Peace Strengthens Its Position as Biggest Operator, Receives Fourth Boeing B777 for International Operations

Air Peace Strengthens Its Position as Biggest Operator, Receives Fourth Boeing B777 for International Operations

Chinedu Eze

As part of its efforts to deepen its international expansion plans, Nigeria’s largest carrier, Air Peace, has received its fourth Boeing B777 aircraft, strengthening its position as West and Central Africa’s biggest operator in terms of fleet.
The wide-body aircraft, Boeing B777-200 ER, bearing registration 5N-CEG, touched down at the Murtala Muhammed International Airport, Lagos, over the weekend from Teruel, Spain. 
The aircraft was welcomed with a traditional water-cannon salute and a rousing reception led by the airline’s Chairman, Dr. Allen Onyema; Executive Director, Obinna Onyema; Chief Operating Officer, Mrs. Oluwatoyin Olajide; alongside members of Air Peace’s management team.
Speaking with journalists, the airline’s spokesperson, Efe Osifo-Whiskey, noted that the arrival of the state-of-the-art aircraft aligned with Air Peace’s vision of global connectivity.
Configured with a total of 312 seats, including 26 luxurious business class seats and 286 economy class seats, the aircraft offers a blend of comfort and modern amenities.
The Business Class cabin features private, ambient seating with advanced in-flight comfort, while Economy passengers will enjoy spacious legroom and refined service.
 During a media tour of the aircraft, Dr. Onyema described the acquisition as a pivotal milestone in the airline’s growth trajectory, emphasising that it represents a decisive step in Air Peace’s expansion strategy. 
He announced that the newly acquired aircraft would be deployed in the next two months for the inaugural long-haul flights from Abuja to London’s Heathrow and Gatwick airports.
He revealed further plans to include: Opening new routes into key European cities, and South America, particularly direct flights to Sao Paulo, Brazil, as well as the Caribbean, building on the airline’s ground-breaking operations in Antigua and Barbuda, as well as St. Kitts and Nevis.
Onyema reiterated the airline’s commitment to offer Nigerians fair and affordable access to international travel while curbing the high fares long endured by passengers on foreign carriers.
He also stressed the urgent need for an efficient hub system in Nigeria to enhance both regional and international connectivity.

The Air Peace chairman expressed gratitude to President Bola Tinubu for his continued support of indigenous airlines through policies that created an enabling environment for growth.

He equally commended the Minister of Aviation and Aerospace Development, Festus Keyamo (SAN), for implementing inclusive measures that positioned Nigerian carriers to compete effectively on the global stage

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Chinedu Eze As part of its efforts to deepen its international expansion plans, Nigeria’s largest carrier, Air Peace, has received its fourth Boeing B777 aircraft, strengthening its position as West
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