News
BREAKING: Bola Tinubu Sworn in As President of the Federal Republic of Nigeria
Bola Ahmed Tinubu is sworn in today as Nigeria’s 16th President.
Kashim Shettima was also sworn in as the Vice President of Nigeria.
The Oath of Office was performed by the Chief Justice of Nigeria, Kayode Ariwoola, at the Eagle’s Square, Abuja.
Tinubu’s Profile
Tinubu started out as a technocrat; a seasoned accountant.
During his sojourn abroad, he worked for American companies Arthur Andersen, Deloitte, Haskins & Sells and GTE Services Corporation.
And upon his return to Nigeria in 1983, he joined Mobil Oil as an auditor.
He rose through the ranks to become an executive of the company.
He began to make inroads into the political Hall of Fame in 1992 when he was elected senator representing Lagos West Senatorial District in the short-lived third National Assembly.
He then joined forces with the National Democratic Coalition (NADECO), a coalition of democrats demanding the military government led by General Sani Abacha to step down for the acclaimed winner of the 12 June 1993 election, the deceased Chief MKO Abiola.
After four years in exile, Tinubu returned to the country in 1998 to contest the governorship election in Lagos – his home state – as Nigeria prepared for a transition to democratic rule.
A two-term governor, Tinubu prides himself as the brain behind the transformation of Lagos from the doldrums to one of the largest economies in Africa.
And so do many of his allies who vigorously campaigned for his presidency based on this accomplishment.
He was behind the creation of the Lagos Free Zone, Ibeju Lekki.
Business
Dangote Assures Steady Petrol, diesel Supply
Dangote Petroleum Refinery has reaffirmed its commitment to ensuring steady and uninterrupted supply of Premium Motor Spirit (PMS) and Automotive Gas Oil (diesel) nationwide, with a daily production capacity exceeding the domestic demand.
Speaking on the development, Group Chief Branding and Communications Officer, Dangote Industries Limited, Anthony Chiejina, said the refinery’s operations are driven by the company’s dedication to supporting national energy stability and consumer confidence.
“Our refinery is currently loading over 45 million litres of PMS and 25 million litres of diesel daily which exceeds Nigeria’s demand,” Mr Chiejina said. “We are working collaboratively with regulatory agencies and distribution partners to guarantee efficient nationwide delivery. Dangote remains steadfast in its commitment to meeting the energy needs of Nigerians. This significant production capacity not only guarantees local supply but also enhances energy security and reduces dependence on imports.”
He noted that improved local production of petroleum products has helped stabilise the exchange rate and strengthen the naira.
“We have reduced foreign exchange outflows and increased inflows, which in turn supports the naira and strengthens the economy,” he added.
He further explained that it would be unpatriotic for anyone to criticise the recently announced tariff, which, according to him, is a good start. He emphasised that the tariff is designed to protect domestic industries from unfair competition and safeguard local production.
“Dumping engenders poverty, discourages industrialisation, creates unemployment and leads to revenue loss for the government. Across the world, nations protect their local manufacturers and industries from the threat of dumping. Dumping destroyed our textile industry, which was once a major employer of labour and creator of wealth,” he said.
He noted that beyond the tariff, the government should strengthen its monitoring and enforcement mechanisms to prevent the dumping of substandard and toxic petroleum products by unscrupulous and rent-seeking individuals who prioritise profiteering at the expense of Nigerians, often undermining well-intentioned government policies for their selfish interests.
He added that the prevalence of dumping in past years discouraged investors from establishing industries in Nigeria, as imported products flooded the market at unsustainable prices, undermining local production. The new tariff policy, he noted, would benefit local refiners and encourage fresh investments in the downstream oil sector, thereby strengthening Nigeria’s industrial base and creating more jobs.
He commended the foresight of President Bola Ahmed Tinubu for approving the tariff policy aimed at strengthening and transforming Nigeria’s downstream oil and gas sector. He noted that the decision reflects the administration’s commitment to creating a stable, business-friendly environment that supports local investment and enhances energy security.
“President Bola Ahmed Tinubu continues to embody courageous and visionary leadership, renewing the hope of Nigerians and restoring investor confidence in the nation’s economy. His administration’s bold and business-friendly reforms are reshaping the downstream oil and gas sector, unlocking new opportunities for industrial growth and national prosperity. The latest policy initiative stands as a testament to his foresight — one of the most transformative steps yet toward securing Nigeria’s energy future and empowering local industries to thrive,” he said
He warned that failure to protect local industries could lead to large-scale dumping from countries in Asia and Europe with excess production capacity. Such practices, he said, would strangulate domestic refineries, cripple allied industries, and undermine the laudable policies of President Bola Tinubu’s administration aimed at promoting industrial growth and economic stability.
Chiejina urged rent-seekers to reconsider their business practices and align with the Federal Government’s vision for a self-sustaining energy sector, rather than promoting the dumping of petroleum products in Nigeria. He emphasised the need for a collective sense of patriotism and responsibility among industry stakeholders, noting that national progress can only be achieved through shared commitment to policies that strengthen local industries and protect the economy.
Equipped with advanced technology and extensive infrastructure, the refinery is expected to significantly eliminate reliance on fuel imports, enhance supply chain stability, and alleviate pressure on foreign exchange reserves.
President of Dangote Industries Limited, Aliko Dangote, recently assured Nigerians that the prices of petrol will not be hiked during the ember months, despite recent global price increases. “I want to assure Nigerians that the Dangote Refinery is fully committed to maintaining an uninterrupted supply of petrol throughout the festive period. Nigerians can look forward to a Christmas and New Year free of fuel anxiety.”
Since commencing petrol production in September 2024, Dangote Petroleum Refinery has played a pivotal role in ensuring price stability, reducing the cost of petrol, aimed at stabilising the market and easing the burden on consumers. It has also eliminated the recurring fuel scarcity and long queues at filling stations that Nigeria often experienced, particularly during festive periods.
He noted that the average price of Premium Motor Spirit (PMS) in September 2024 was about N1,030 per litre, compared to an average of N841–N851 per litre in September 2025, following the implementation of the Dangote Refinery’s Direct Delivery Scheme.
Similarly, as of September 2024, the pump price of Automotive Gas Oil (AGO) ranged between N1,400 and N1,700 per litre, depending on the state, with prices reaching up to N1,700 in most northern states. By September 2025, however, the average price had dropped significantly to around N1,020 per litre, reflecting the refinery’s impact on stabilising the market and reducing logistics costs.
In comparison, petrol prices in neighbouring West African countries range between $1.20 and $2.00 per litre, while the average price in Nigeria remains around $0.60 per litre, a clear indication of the refinery’s profound impact on affordability and supply stability.
Crime
Police Confirm Abduction of Kebbi State Deputy Speaker
The Kebbi State Police Command has confirmed the abduction of the Deputy Speaker of the Kebbi State House of Assembly, Hon. Samaila Bagudu, by gunmen suspected to be members of the Lakurawa terrorist group.
According to eyewitnesses, the attackers invaded Bagudu Local Government Area, the hometown of the Deputy Speaker, on Friday. The assailants reportedly stormed the town in large numbers, firing sporadically to disperse residents before whisking away the lawmaker.
In a statement issued by the Police Public Relations Officer, CSP Nafiu Abubakar, the command said that a joint team of police tactical units, military personnel, and local vigilantes had been deployed to the area in pursuit of the kidnappers.
“The team is currently combing the surrounding forests with the aim of rescuing the Honourable member unhurt and apprehending the perpetrators,” the statement read.
The police urged residents to remain calm and cooperate with security agencies by providing useful information that could aid in the rescue operation.
News
FG Begins Disbursement of Tertiary Staff Loans
In a statement by the Ministry of Education, the Minister Dr Tunji Alausa, said that the programme had transitioned from planning to full implementation, with more than 9,000 staff of tertiary institutions receiving payments in the first year.
•Dr Tunji Alausa
The Federal Government has commenced the disbursement of funds under the Tertiary Institution Staff Support Fund.
The fund is designed to strengthen staff welfare, institutional productivity, and innovation across Nigeria’s tertiary education system.
In a statement by the Ministry of Education, the Minister Dr Tunji Alausa, said that the programme had transitioned from planning to full implementation, with more than 9,000 staff of tertiary institutions receiving payments in the first year.
The ministry reaffirms its commitment to transparent fund management, quarterly financial reporting, and continuous engagement with participating institutions to ensure that every naira disbursed translates into improved welfare, motivation, and institutional performance as well as repayments to ensure more members of our tertiary institutions can benefit from the initiative.
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