By Sola Adebawo Nigeria’s refining debate has turned to a more fundamental question: can the country reliably supply the crude its refineries need, and on what terms? On 9 October, Finance Minister Taiwo Oyedele said Nigeria did not have enough freely available crude to meet the Dangote refinery’s full requirement of 700,000 barrels per day. His point was that national production is not the same as crude the government can freely allocate. Joint-venture and production-sharing entitlements, production costs and royalties all affect the volume available to the state. That distinction matters. Oyedele was not saying Nigerian crude was unavailable…
Author: Orientalnews Staff
Joyce Onwuka The National Agency for the Prohibition of Trafficking in Persons (NAPTIP), has received 105 Nigerians rescued in a coordinated operation against cybercrime syndicates in Ghana. The operation was coordinated by the Office of the National Security Adviser (ONSA) after the Cyber Security Authority of Ghana contacted NAPTIP. NAPTIP led the participating Nigerian Security and Law Enforcement Agencies, which included the Nigeria Immigration Service (NIS), the National Commission for Refugees, Migrants and Internally Displaced Persons (NCFRMI), the Department of State Services (DSS), the National Intelligence Agency (NIA), the Nigerian High Commission in Ghana, the Federal Airport Authority of…
Uche Cecil Izuora Guinness Nigeria Plc has concluded its Guinness Open For More national consumer promotion, rewarding 1,075 consumers over 10 weeks, with Queen Thompson emerging as the grand prize winner of a ₦150 million Toyota Land Cruiser Prado SUV. At the grand prize presentation held at the company’s headquarters in Ogba, Lagos, Girish Sharma, Managing Director and Chief Executive Officer, Guinness Nigeria Plc, presented the vehicle keys to Thompson, whose win capped a campaign celebrating consumer loyalty nationwide. Speaking amid applause at the presentation, Sharma said: “I’m particularly excited that the winner is a woman. Many didn’t know…
Tunde Bakare The Economic and Financial Crimes Commission, EFCC, on Monday, October 12, 2026, arraigned Aluminium Smelter Company of Nigeria, ALSCON, plc, and its Director, Zavyalov Dmitry, before Justice O. A. Egwuatu of the Federal High Court, Abuja, for alleged money laundering offences involving N582,430,250.00 (Five Hundred and Eighty-Two Million, Four Hundred and Thirty Thousand, Two Hundred and Fifty Naira). The company and its director were arraigned on a six-count amended charge, marked FHC/ABJ/CR/644/2025. Dmitry is said to be at large. According to the charge, the company, a Designated Non-Financial Business and Profession, DNFBP, and Its Director, Dmitry,…
Tunde Bakare Justice M.S. Liman of the Federal High Court sitting in Abuja has dismissed a fundamental human rights suit filed by Abuja-based businesswoman, Aisha Achimugu against the Economic and Financial Crimes Commission, EFCC. In the originating suit no : FHC/ABJ/CS/466/2026, Achimugu approached the court for determination of whether the defendant, EFCC’s action of searching her house and seizing her cars and jewelries and other items was within the powers of the Commission. Achimugu also asked the court to enforce her rights to privacy, including an order of the court restraining the defendant from threatening or harassing and…
Yemisi Izuora Lagos State Deputy Governor and All Progressives Congress (APC) Governorship Candidate, Dr. Kadri Obafemi Hamzat, on Monday commissioned the PBAT/KOH Lagos Central Campaign Office, urging Lagosians to turn out in large numbers to vote for President Bola Ahmed Tinubu and all APC candidates in the 2027 General Elections. Speaking at the commissioning ceremony held on Harden Street, Lagos Island, Hamzat said Lagosians had a responsibility to support the President’s re-election, noting that Tinubu’s longstanding connection to Lagos made the State’s support particularly significant. He added that re-electing the President would ensure continuity in the work his administration…
Uche Cecil Izuora The Federal Government has reaffirmed its commitment to delivering steady electricity to every Nigerian, and says it will finish paying the legacy debts owed to power generation companies (Gencos) in 2027. The Honourable Minister of Power, Joseph Tegbe, made this known recently at the Harvard Business School Association of Nigeria (HBSAN) Energy Conference in Lagos. He said about N1.23 trillion of the backlog has been paid so far through bonds, with the balance to be cleared next year. Tegbe noted that the goal goes beyond settling old debts. The government, he said, is determined to ensure…
Yemisi Izuora The Securities and Exchange Commission (SEC), Nigeria, has intensified efforts to promote financial literacy, strengthen investor protection and expand participation in the Nigerian capital market through its Capital Market Awareness. The Commission made the call during its Unclaimed Funds and Investor Education Outreach Programme held in Lafia, Nasarawa State. The programme brought together representatives of relevant institutions, academia and other stakeholders to promote awareness of investment opportunities, facilitate access to unclaimed dividends and other investment assets, and educate the public on measures to guard against fraudulent investment schemes. Among those present were representatives of the ICMR, the…
Group Chief Executive Officer, NNPC Limited, Engr. Bashir Bayo Ojulari, has presented the Company’s 2025 Audited Financial Statement (AFS) to President Bola Ahmed Tinubu GCFR. Ojulari, who was accompanied by the Company’s Group Chief Finance Officer (CFO), Dapo Segun, presented the statement which delivered impressive results that include ₦7.2 Trillion Profit After Tax (a 33% rise compared to ₦5.4 trillion in 2024); ₦5.8 Trillion dividend and ₦34.5 trillion revenue. On 29th September, 2026, NNPC Ltd announced its audited results for the year ended 31 December 2025, following its Annual General Meeting and second Earnings Call with financial and…
Francesca Odimgbe Investment in youths have been identified as critical in advancing governance and strengthening their contribution to nations building. This is the position of Lagos State Governor, Babajide Sanwo-Olu, and former President of the African Development Bank (AfDB), Dr Akinwumi Adesina, who on Monday called for greater investment in the nation’s youths, saying it is high time the leaders created opportunities for them to develop their skills, build businesses and participate in governance. Their call was made at the Seyi Tinubu (TST) Colloquium, themed “Shaping the Future Together,” held at the Eko Convention Centre, Lagos. Sanwo-Olu, who…