Aliko Dangote, founder of the Dangote Group, has revealed the huge personal and financial risks he took to establish Nigeria’s largest oil refinery. He admitted that if the project had failed, lenders would have taken over all his assets. He said, “The decision to build the refinery was not easy. If it had gone wrong, lenders would have taken our assets. But we believed in Nigeria and Africa.” Despite skepticism from industry experts, investors, and government officials, Dangote pushed forward. His determination has paid off, with the refinery helping to reduce petrol prices from nearly ₦1,100 per litre to about…
Author: Omolemi Eboisetale
In a groundbreaking political move, Japan’s Path to Rebirth party has announced that an artificial intelligence (AI) system will take over as its new leader. This follows the resignation of the party’s founder, Shinji Ishimaru, after disappointing electoral results. Ishimaru, a former mayor from western Japan, launched the party in January, allowing members to set their own agendas. Despite securing a strong online following and finishing second in the 2024 Tokyo gubernatorial election, the party failed to win any seats in this year’s upper house elections, prompting Ishimaru’s departure. Speaking on the transition, Ishimaru stated: “This is an experiment in…
President Bola Tinubu has approved the appointment of executive directors to the North Central Development Commission (NCDC) board, tasking them with supporting the commission in fulfilling its statutory mandate. The announcement was made on Tuesday by Segun Imohiosen, Director of Information and Public Relations in the Office of the Secretary to the Government of the Federation. The newly appointed directors include Biliquis Sanni for Administration and Human Resources, Aisha Ibrahim for Commercial and Industrial Development, James Uloko for Corporate Services, Muhammad Bashar for Finance, and Atika Ajanah for Projects. “The directors will assist the commission in actualising its statutory mandate,”…
The Special Adviser to the President on Economic Matters, Tope Fasua, has assured Nigerians that inflation will soon drop to a single-digit figure, easing the cost of living for citizens. He spoke on Channels Television’s The Morning Brief on Tuesday, noting that food prices are beginning to stabilize as inflation slows. Fasua’s comments followed the National Bureau of Statistics (NBS) report showing headline inflation fell to 20.12% in August 2025, down from 21.88% in July. On a monthly basis, headline inflation was 0.74% in August, while food inflation stood at 1.65%. Year-on-year, inflation dropped by 12.03% compared to August 2024,…
The opposition coalition led by former Vice President Atiku Abubakar has dismissed rumors suggesting plans to abandon the African Democratic Congress (ADC) in favor of the newly approved All Democratic Alliance (ADA). National Publicity Secretary of the ADC, Bolaji Abdullahi, clarified that the coalition remains committed to the ADC as its platform for the 2027 general elections. He attributed the circulating rumors to forces attempting to destabilize the opposition and create a one-party state in Nigeria. The Independent National Electoral Commission (INEC) recently announced the approval of 14 political associations, including ADA, to proceed to the next stage of registration…
Nigeria’s Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, Ph.D, has reaffirmed Nigeria’s leading role in advancing Africa’s energy security, advocating for deeper regional collaboration at the Africa Oil Week (AOW) 2025 Ministerial and CEO Leadership Forum. In a statement signed by Nneamaka Okafor, his Special Adviser on Media and Communication, Sen. Lokpobiri emphasized that integration is the most effective strategy to combat Africa’s energy poverty. He noted that shared infrastructure, harmonized standards, and technical expertise will secure the continent’s energy future. Highlighting Africa’s dependence on imports, he revealed that the continent spends over $120 billion annually on…
Governor Ademola Adeleke of Osun State has asked his political rivals to accept the will of the people, following fresh endorsements of his second-term bid by major student bodies in the state. The National Association of Nigerian Students (NANS), Joint Campus Council (JCC), Osun Axis, and the National Association of Osun State Students (NAOS) declared their support for the Governor at an event held in the Banquet Hall of the Government House, Osogbo. In a statement issued by his spokesperson, Olawale Rasheed, Adeleke said his rivals should stop pretending to have the people’s backing when their past performance showed otherwise.…
Governor Hyacinth Alia of Benue State has warned traditional rulers in the state to stop issuing mining permits in their domains without government approval. Speaking at a thanksgiving ceremony in honour of his appointees from Kwande Local Government Area (LGA), one of the state’s mining hubs, the governor said his administration would not tolerate illegal mining. He warned that offenders would face prosecution. “We will not tolerate any form of illegal mining in any part of the state, and traditional rulers must desist from issuing mining permits without government approval,” Alia said. The governor also reiterated his commitment to infrastructural…
The Managing Director of the Nigeria Inland Waterways Authority and governorship aspirant of the All Progressives Congress (APC), Mr. Bola Oyebamiji, has said the people of Osun State are eager for the APC to reclaim power. Speaking with journalists in Osogbo on Monday, Oyebamiji explained that after touring 21 out of the 30 local government areas of the state, he observed a major infrastructure deficit despite the huge resources available to the present administration. He said the large turnout at his consultation meetings showed that the APC still enjoyed strong support among the people and had a bright chance of…
A Federal High Court in Abuja has granted the request of former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, to allow forensic experts to examine electronic evidence tendered in his ongoing $4.5 billion and ₦2.8 billion fraud case. The defence team had sought access to scrutinize WhatsApp conversations and a mobile device (tagged “iPhone 2”) submitted by the prosecution. Granting the application, the trial judge ordered that the process must not compromise the integrity of the evidence. “Only one defence counsel and one forensic expert shall be present, along with the prosecution’s representatives. The chain of custody must be…
Private fuel depots across Nigeria, particularly in Lagos, were deserted on Monday as the Dangote Refinery intensified large-scale petrol distribution to retail outlets in 12 states. For decades, marketers relied on private depots to load products, but many have now diverted trucks to Dangote’s facility due to its competitive pricing. At the refinery’s loading bay, petrol was sold at ₦820 per litre, a sharp contrast to Lagos depot prices. On Friday, WOSBAB and AITEO sold at ₦836, while MENJ pegged at ₦838. Though the margin appears slim, industry insiders say it translates into huge savings when multiplied across thousands of…
Taiwo Oyedele, chairman of the presidential committee on tax policy and fiscal reforms, says the tax reform bills will be approved in the first quarter of 2025, with implementation scheduled to begin in July. Speaking on Saturday at The Platform, an event organised by The Covenant Nation to promote national development, Oyedele explained that the reforms would give taxpayers sufficient time to prepare. “I need to talk about the tax reforms. Part of the expectation is we expect the tax reforms to be approved, particularly the tax reform bills in 2025,” he said. “Our expectation is before the end of…