The Kogi State Government has set an ambitious target of generating one billion naira in revenue from signage and advertisement by 2026, as part of its broader strategy to boost the state’s Internally Generated Revenue (IGR) and reduce dependence on federal allocations.

This was disclosed by the State Commissioner for Information and Communications, Hon. Kingsley Femi Fanwo, during a management meeting with heads of agencies under the ministry in Lokoja.

Fanwo described the appointment of Mr. Richard Osaseyi as the General Manager of the Kogi State Signage and Advertising Agency as “a masterstroke,” noting that it would reposition the agency for greater efficiency and impact.

“Kogi has no business depending solely on federal allocations if we are able to harness internal revenue opportunities effectively.

Signage and advertisement can generate over a billion naira for the state by 2026,” Fanwo said.

“This is why we are gathered here to brainstorm on the prospects and challenges. Revenue generation is top on the agenda of the Ododo Administration as we aim to fund infrastructure and development from within.

”Fanwo further emphasized that Governor Ododo has successfully “separated revenue from politics,” allowing professionals to drive economic initiatives without interference.

In his remarks, Mr. Richard Osaseyi outlined strategies already being implemented to reposition the agency and boost revenue.

He revealed that many large corporate advertisers in the state had been underpaying in the past, but that the agency is now engaging with them diplomatically to correct the imbalance.

“With our new approach, we’re already seeing positive responses,” Osaseyi said. “The agency is poised to become a major contributor to the state’s IGR, and we will intensify public sensitization to build trust and cooperation.

”The Permanent Secretary of the Ministry, Mr. Ebenezer Adurodija, also commended the agency’s readiness and pledged the ministry’s continued support to ensure the success of the initiative.

Meanwhile, in a related development, Commissioner Fanwo inaugurated a Ministerial Committee to begin work on the launch of Project Confluence of Opportunities, an initiative aimed at projecting Kogi’s vast economic and tourism potential to both local and global investors.

“Kogi is one of the most richly endowed states in Nigeria — geographically, historically, and naturally,” Fanwo said.

“From the Confluence of Rivers Niger and Benue to Mount Patti and our rich mineral resources, Kogi has everything to become a top investment and tourism destination.

“Project Confluence of Opportunities is our bold step to tell the world that Kogi is open for business. Our mandate goes beyond informing our people — we are also here to tell our story to the world in a way that attracts value.

”The initiatives form part of the Ododo Administration’s broader blueprint to reposition Kogi as a self-reliant, investor-friendly state and a model of good governance in Nigeria.

The Kogi State Government has expressed heartfelt appreciation to President Bola Ahmed Tinubu for appointing several illustrious sons and daughters of the state into key positions at the federal level, describing the gesture as a testament to the President’s commitment to inclusive governance and national development.

In a statement signed by the State Commissioner for Information and Communications, Hon. Kingsley Fanwo, the state’s Chief Servant, His Excellency Alhaji Ahmed Usman Ododo, extended gratitude to the President for what he called a “demonstration of confidence in the capacity, competence, and character” of Kogi’s indigenes.

“These appointments are a reflection of Mr. President’s unwavering belief in the diversity of our nation and the value that each state brings to the table,” the statement read. “We are proud that Kogi indigenes have once again been found worthy to serve the nation at the highest levels.”

The government described the appointments as a clarion call to the new appointees to be worthy ambassadors of Kogi State, urging them to bring to bear the excellence and integrity that define the state’s identity.

“Your elevation is not just an honour but a responsibility to deliver results, to uphold the ideals of service, and to reflect the values we hold dear in Kogi State,” the government charged the new appointees.

Fanwo noted that Kogi State remains committed to partnering with the Federal Government to ensure sustained progress and development, both within the state and across the nation.

“We remain resolute in our support for Mr. President and will continue to work hand-in-hand with his administration in building a Nigeria that works for all,” the statement added.

The Kogi State Government sent a message of congratulations to the appointees, charging them to be good Ambassadors of the Confluence State.

The Independent Petroleum Marketers Association of Nigeria has explained that the eventual renewal of the naira-for-crude deal between the Nigerian government, the Dangote Refinery and other refiners could not crash the price of Premium Motor Spirit because of the forces of demand and supply and depreciation in the foreign exchange rate.

The spokesperson of IPMAN, Chinedu Ukadike, disclosed this to newsmen in an interview on Tuesday.

Ukadike was commenting on why Nigerians did not see a drastic fuel price crash in the local market despite the downturn in global crude oil prices, which stood at $65 per barrel and $61 for Brent and WTI crude blends, respectively, on Tuesday morning, according to oilprice.com.

Global crude prices had dropped from around $67 before the emergence of United States of America President Donald Trump’s administration’s tariff war.

In the last few days, Trump and China had engaged in tit-for-tat over tariffs impacting global trade, including crude oil.

Similarly, the recent agreement on supply cuts by the Organisation of Petroleum Exporting Countries, OPEC+, had also triggered the downward slide of crude oil prices.

However, since Trump announced a global tariff pause except for China, there has been a noticeable respite in global crude prices.

Meanwhile, Nigerians have lamented that they are yet to feel the impact of the global crude price drop on local prices.

A resident of Abuja, Nurudeen Abdullahi, said that with the continuation of naira-for-crude and the price of crude in the international market, he expects local petrol to be no more than N850 per litre.

“To be fair with you, local petrol prices should be around N850 per litre or less following the current benchmark of crude oil prices, which stood around $65 per barrel, down from $72,” he said.

Another Nigerian, Evelyn Adebayo, expressed a similar view over expectations of the crash of local fuel prices.

“I believe refiners and marketers are not fair to Nigerians. If it were petrol price hike, they would have implemented it without hesitation.

“But I am surprised that local petrol prices did not drop in a commensurate level as crude prices in the international market,” she stated.

Dangote Refinery had announced a N10 reduction in its ex-depot price of petrol.

Its decision to reduce ex-depot petrol prices follows the commitment to continue the Naira-for-crude by the Nigerian government implementation committee.

Reacting, Ukadike exonerated marketers, insisting that the price of local petrol did not drop as expected because of forces of demand and supply.

He added that Nigeria’s foreign exchange rate, which stood at N1,604.48 per dollar at the official market as of Tuesday, may also be the reason local fuel prices did not crash.

“The forces of demand and supply in the downstream sector, and the cost of foreign exchange also determine the price of crude and its by-product, fuel.

“The current price of petrol is competitive and fair enough for Nigerians owing to the two factors of forces of demand and supply and FX rate,” he said.

Nigerians currently buy petrol for between N940 and N975 per litre in Abuja.