Business
Fuel Subsidy Removal: FG To Release Palliatives Soon – Minister
By Juliana MAIRIGA, Minna
Minister of state in the Ministry of Solid Minerals, Alhaji Abubakar Bawa Bwari has said that the Federal Government would soon release the palliatives that would cushion the effect of the recent increase in the pump price of petrol.
Bawa Bwari who made this known in Minna Niger state recently while speaking at the opening of the 14th Niger state National Trade Fair also disclosed that other palliatives in the 2016 budget would also be speedily implemented by the government in the interest of Nigerians.
According to the Minister, part of the palliatives would be the ‘freeing up’ of foreign exchange for use in the provision of critical infrastructure by investors.
He said the federal government was aware of the sacrifices being made by Nigerians and would continue to ensure that whatever money is saved from recent policies is used to strengthen the economy’.
“I want to assure you that government fully appreciates the sacrifices Nigerians are making and will continue to ensure that whatever money is saved from recent policies is used to strengthen the economy and provide job opportunities for our teeming youth”, he said.
Bawa Bwari however advised state governments to look inwards and exploit resources at their disposal to improve their internally generated revenue to augment the resources from the federation account.
He suggested that the trade fair should go beyond exhibition of goods and services adding that it should move to the critical stage of exporting commodities and “helping owners of raw materials to enter into partnership with leading industrialists who need these products.”
Governor Abubakar Sani Bello in an address to declare open the Fair disclosed that the state would provide the needed investment climate for investors to establish their companies and factories in the state.
Sani Bello who said the state “is the most peaceful in the country” advised investors to take full advantage of the opportunity to do business in the state.
Dr Ahmed Mohammed Bakaai, President of the Niger state Chambers of Commerce Industries, Mines and Agriculture organizers of the trade fair commended the Niger state government for creating a favourable climate for investors to operate in the state.
In another development, the Independent Petroleum Marketers Association of Nigeria (IPMAN) in Niger state have warned its members to desist from selling above N145 approved pump price and desist from sharp practices.
The association declared that it will no longer be business as usual as any member found selling above the approved pump price of N145 will be dealt with.
The Niger state IPMAN Chairman, Alhaji Adamu Ahmad Erena while speaking to newsmen in Minna said that IPMAN have decided to support the government who have done its best in deregulating the oil sector.
Erena said the association will not back or defend any erring members caught selling above the approved pump price, “we are appealing to all independent marketers to cease selling above government approved price because the union will not back you if you are dealt with by relevant authorities.”
He said that IPMAN will start going round with the task force to ensure that the regulations are observed.
Erena lauded the Federal Government for the removal of fuel subsidy adding that it have given independent marketers to be able to get the product on their own which have aided in reducing queues in the country.
“Independent marketers are ready to give the products at government approved price. With the partial deregulation, government has ensured that private sectors sell at the approved price, this is good for us”, the association said.
The IPMAN Boss said that filling stations in the state have been asked to sell at N145 or below but our Correspondent discovered that some are selling above N145 while others have adjusted their pump while selling at N145
Business
Umahi Inspects Lekki Corridor’s 7th Axial Road Project, Expresses Confidence in CHEC
Minister of Works Senator Dave Umahi over the weekend inspected the progress of the 7th Axial Road project in the Lekki Corridor of Lagos.
The project, located behind the Dangote Refinery, is a crucial cargo handling route for the Lekki Deepwater Port and connects the Lekki Corridor with the Sagamu route.
The Minister expressed confidence in China Harbour Engineering Company Limited (CHEC), the project’s contractor, citing its successful delivery of the Lekki Deepwater Port and high-quality progress on the Makurdi-Enugu road reconstruction and expansion project. Umahi instructed that the roadbed filling work for Project LOT1 be completed by the end of April and directed the project team to accelerate resource input and tangible works to meet the deadline.
The 7th Axial Highway is expected to synergize with key infrastructure projects like the Coastal Road, Dangote Road, and Lekki Port, creating a comprehensive transportation hub model and boosting Nigeria’s port economy and industrial corridor. Umahi emphasized the need for environmental protection agencies to ensure efficient construction and steady progress while maintaining ecological safety.
A representative of CHEC who spoke during the inspection stated that the company would maintain a high level of resource input, implement the Minister’s directives, and coordinate safety, quality, and environmental protection to ensure the project’s timely and high-quality completion in other to unluck its port relief and regional economic benefits.
Business
Nestoil: Lagos CP dragged to court for contempt, risks imprisonment
This is certainly not a good time for the Lagos State Police Commissioner, Mr. Moshood Jimoh as he has been dragged to court for commiting contempt by defying a clear court order that he and his men must not go near the business premises of Nestoil Group which belongs to Drawcok Estates LTD.
The fresh suit by Drawcok Estates LTD followed Monday’s deployment of over fifty armed police officers by Mr. Moshood Jimoh to seal off the business premises of Nestoil Group which belongs to Drawcok Estates LTD despite an order by Justice Ofili Ajumogobia.
Also, despite a directive by the federal government that police escorts be withdrawn from VIPs, Mr. Moshood Jimoh illegally allocated several police officers to be guarding Mr. Sulu Gambari, the self-acclaimed Receiver Manager which was appointed by a former judge that was handling the case, Justice Isaac Dipeolu.
Recall that Justice Daniel Osiagor of the Federal High Court in Ikoyi vacated all the orders made by Justice Isaac Deinde Dipeolu who wrongly appointed the Receiver Manager.
Meanwhile, dissatisfied with the action of the Lagos Police Commissioner, Drawcok Estates LTD yesterday filed a case of contempt against the Lagos State Commissioner of Police, Mr. Olohundare Jimoh Moshood (Contemnor) before a Federal High Court in Abuja.
In Suit No: FHC/ABJ/CS/2385/2025, the applicant wants Police Commissioner Moshood Jimoh to be found guilty of contempt of court and also be committed to prison unless he obeys the directives contained in Justice Ofili Ajumogobia’s Order of November 24, 2025.
Recall that Justice Ofili Ajumogobia had on November 24, 2025 ordered that the building in question belongs to Drawcok Estates LTD, adding that no police officer must be seen carrying out orders of the Lagos State Police Commissioner around the premises.
The Orders made by Justice Ofili Ajumogobia on November 24, 2025 in suit number FHC/ABJ/CS/2385/2025 were that:
The applicant has a right to own and possess her properties as mentioned in the addresses above as guaranteed by the 34 Constitution of the Federal Republic of Nigeria, 1999 as amended and the African Charter on Human and People’s Rights..
That the sealing-off and occupation of the applicant’s properties on the addresses mentioned above by the Respondents constitute an infringement on the right of the applicant to own property, as guaranteed by Sections 43 and 44 of the he Constitution of the Federal Republic of Nigeria, 1999 as amended.
That the Respondents, whether by themselves , their agents, agencies and servants, acting for it through them or any other person(s) howsoever described or claiming through them, to vacate the applicant’s properties on the addresses mentioned above, and deliver possession over to the applicant forthwith.
That the Respondents, whether by themselves, their agents, agencies, and servants, acting for or through them or any other person(s) howsoever described or claiming through them, to provide security for the applicant to take back possession of her properties on the addresses mentioned above.
That the Respondents is restrain, whether by themselves, their agents, agencies and servants, acting for or through them or any other person(s) howsoever described or claiming through them, from harassing the applicant and refusing her access to her properties on the addresses mentioned above.
Nigerian Concord Newspapers reporters that visited the business premises yesterday reported that pollice officers have been denying workers of several companies access to their offices located within the Nestoil building in Lagos on the order of Moshood Jimoh, despite a subsisting court order directing that they be allowed into the premises.
The affected workers had resumed duties following a court order delivered by Hon. Justice Ofili Ajumogobia of the Federal High Court, Abuja on November 24, which directed that they be granted access to their offices.
Business
Dangote Refinery Boosts Fuel Exports as Gulf Refineries Shut Down
By: Fabian Apechihin
The Dangote Petroleum Refinery has ramped up fuel exports to international markets amid widespread refinery shutdowns in the Middle East, industry sources confirmed.
A senior official at the $20bn Lagos-based plant told The PUNCH that the facility exported significant volumes of petrol (PMS), diesel (AGO), and aviation fuel (Jet A1) to foreign buyers in August, following earlier shipments in June and July.
The surge comes as Saudi Aramco and other regional producers face heavy maintenance schedules, tightening fuel supply. Aramco has already shut down two plants and plans further closures, including its 460,000 b/d Satorp refinery in Jubail for a 60-day turnaround in November–December. Kuwait and India are also scaling back capacity for maintenance and seasonal demand.
According to Argus Media, these shutdowns are pushing Gulf nations to import record volumes of gasoline, with Saudi Arabia and the UAE sharply increasing purchases from Europe and other markets in recent months.
While some reports pointed to operational constraints at Dangote’s 650,000 b/d facility, the company dismissed such claims, insisting production is on track to reach 700,000 b/d by December. Earlier this year, Aliko Dangote announced the refinery had sold two cargoes of jet fuel to Saudi Aramco and recently achieved exports of about 1 million tonnes of petrol between June and July.
“With Gulf refiners offline, Nigeria has now emerged as a net exporter of refined products,” Dangote said.
Analysts suggest the extended refinery outages in the Middle East will further strengthen demand for Dangote’s output, positioning the Nigerian plant as a key supplier in regional fuel markets.
Would you like me to tighten this further into a 5–6 paragraph wire-style news brief, or keep it as a detailed feature-style report with more context on Gulf refinery shutdowns?
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