Business
Oil Marketers and Dangote Battle in Court Over Import Licences
Three oil marketers, AYM Shafa Limited, A. A. Rano Limited, and Matrix Petroleum Services Limited, have asked the Federal High Court in Abuja to dismiss a suit filed by Dangote Petroleum Refinery and Petrochemicals.
The marketers, in a joint counter affidavit marked: FHC/ABJ/CS/1324/2024, and dated November 5, 2024, a response to an originating summon filed by Dangote Petroleum Refinery and Petrochemicals, argued that granting the application of refinery would spell doom for the country’s oil sector.
They emphasised that the plan to monopolise the oil sector is a recipe for disaster in the country.
Dangote refinery in its originating summon dated September 6, 2024, had sued Nigeria Midstream and Downstream Petroleum Regulatory Authority and Nigeria National Petroleum Corporation Limited, AYM Shafa Limited, A. A. Rano Limited, T. Time Petroleum Limited, 2015 Petroleum Limited, and Matrix Petroleum Services Limited as 1st to 7th defendants respectively.
The refinery prayed the court to declare that NMDPRA was in violation of Sections 317(8) and (9) of the Petroleum Industry Act (PIA) by issuing licenses for the importation of petroleum products.
It stated that such licenses should only be issued in circumstances where there is a petroleum product shortfall.
It also urged the court to declare that NMDPRA is in violation of its statutory responsibilities under the PIA for not encouraging local refineries such as the company.
Shafa, A. A. Rano, and Matrix Petroleum, however, responded that Dangote refinery does not produce adequate petroleum products for the daily consumption of Nigerians.
They noted that the plaintiff had not placed anything before the court to prove the contrary.
They argued that they are well qualified and entitled to be issued an import licence by NMDPRA to import petroleum products.
They argued that they are well qualified and entitled to be issued an import licence by NMDPRA to import petroleum products in Nigeria within the meaning of Section 317(9) of the PIA.
They also noted that they are fully qualified for the issuance of the import licences issued to them by the 1st defendant, as they duly met all the legal requirements for the issuance of such import licences, before the same were issued to them.
“The import licences lawfully and validly issued to the defendants did not in any way whatsoever, cripple the plaintiff’s business or its refinery.
“The import licenses issued to the defendants by the 1st defendant are in line with the provisions of the Petroleum Industry Act, 2021, the Federal Competition and Consumer Protection Act, 2018, and other relevant laws,” they contended.
They insisted that giving Dangote Refinery the power of monopoly in Nigeria’s petroleum industry as it sought in the instant suit, would kill competitive pricing of petroleum products in the country.
Business
Senate dispatches five MDAs to handle Ogijo lead poisoning crisis
The motion, jointly sponsored by Mukhail Adetokunbo Abiru (Lagos East) and Gbenga Daniel (Ogun East), was brought under Matters of Urgent Public Importance pursuant to Orders 41 and 51 of the Senate Standing Orders, 2023 (as amended).
The Senate has mandated the Federal Ministry of Health, the Federal Ministry of Environment; the Nigeria Centre for Disease Control (NCDC) including the NESREA and the Federal Ministry of Solid Minerals to quickly look into the lead poisoning crisis at Ogijo community in Ogun State and report back to the Chamber within six weeks.
The motion, jointly sponsored by Mukhail Adetokunbo Abiru (Lagos East) and Gbenga Daniel (Ogun East), was brought under Matters of Urgent Public Importance pursuant to Orders 41 and 51 of the Senate Standing Orders, 2023 (as amended).
During the plenary on Thursday , the lawmakers expressed grave concerns over the reported fast-spreading lead-poisoning crisis in Ogijo, describing it as a full-blown environmental and public-health emergency that threatened thousands of lives.
Lawmakers cited scientifically verified reports of extreme lead contamination linked to a cluster of used lead-acid battery recycling factories operating in the area for years.
According to the Senate, the crisis had left residents battling persistent headaches, abdominal pain, memory loss, seizures, and developmental delays in children, symptoms strongly associated with chronic lead exposure.
The Senate acknowledges and commends the proactive efforts of the Lagos and Ogun State Governments and their relevant ministries and agencies for conducting early inspections, raising community awareness and working with federal authorities to contain the exposure.
The chamber noted with concern that the Federal Government had already begun clampdowns, with the Minister of State for Labour and Employment, Nkeiruka Onyejeocha, shutting down seven battery-recycling factories and ordering a temporary halt to lead-ingot exportation pending safety investigations.
Senators said they were “alarmed that residents have for several years complained of persistent headaches, abdominal pains, loss of memory, seizures, cognitive decline, and developmental delays in children, symptoms strongly associated with chronic lead exposure.”
Despite years of community protests, the smelters allegedly continued operating openly, releasing toxic fumes and particulate dust into surrounding homes, markets and playgrounds.
Some environmental samples, senators noted, showed lead levels “up to 186 times the global maximum safety threshold.”
A major dimension of the scandal, lawmakers said, was that lead processed in Ogijo had already been traced into international supply chains, reaching global battery and automobile manufacturers who either did not address the findings or relied solely on assurances from Nigerian suppliers.
Following the extensive deliberations, the chamber mandated the Federal Ministry of Health and the Nigeria Centre for Disease Control (NCDC) to deploy emergency medical teams to Ogijo to provide free toxicology screenings, blood-lead management, chelation therapy, and ongoing treatment for affected children and adults.
Simultaneously, the Federal Ministry of Environment and NESREA were directed to carry out comprehensive environmental remediation, mapping soil, groundwater, air, and household dust contamination.
The Senate also called on the Federal Ministry of Solid Minerals and relevant regulatory agencies to enforce strict compliance standards for battery-recycling and lead-processing operations nationwide.
Additionally, it recommended establishing a National Lead Poisoning Response and Remediation Task Force within NEMA and directed the Committee on Legislative Compliance to monitor progress and report back within six weeks.
Business
Cadbury Nigeria PLC: Adeboye Retires as MD, Ogundipe Becomes Interim MD
Pending the formal announcement of Mrs. Adeboye’s successor, Mrs. Ogundipe will manage the day-to-day operations of the Company in her capacity as Interim Managing Director.
Cadbury Nigeria Plc, a subsidiary of Mondelez International, has appointed Mrs. Folake Ogundipe, the current Finance Director, as interim Managing Director.
The appointment followed Mrs. Oyeyimika Adeboye’s retirement as Managing Director, effective November 30, 2025, when she attained the company’s retirement age.
In a statement issued by company’s Head of Corporate Communications and Government Affairs, Dr. Frederick Mordi, Mrs. Adeboye joined the board of the company in November 2008, as Finance and Strategy Director, West Africa.
She was appointed Managing Director on April 1, 2019, becoming the first woman to be appointed to that role since the establishment of Cadbury Nigeria in 1965.
During her tenure, she steered the West Africa business through various phases of growth, transformation and macro-economic volatilities.
Her contributions have been instrumental in achieving substantial growth, positioning the company for continued, sustainable and profitable expansion.
She is known for her servant leadership, being a people-first leader who reliably delivers results for consumers and customers.
Her passion for people has been evident in her focus on talent development, mentorship, overall engagement and strengthening capability of talent across the West Africa business.
“Serving as the Managing Director of Cadbury Nigeria Plc has been an incredible privilege and a crowning chapter of my career,” said Adeboye.
“Over the past six years, I have had the honour of leading a remarkable team and contributing to the growth of a company that holds a special place in the hearts of many.”
Pending the formal announcement of Mrs. Adeboye’s successor, Mrs. Ogundipe will manage the day-to-day operations of the Company in her capacity as Interim Managing Director.
She joined the company in September 2025, subsequently being appointed to the Board as Finance Director.
She is recognised as a distinguished executive leader with extensive multi-decade experience in driving business transformation, delivering sustained shareholder value, and fostering high-performance cultures within the consumer goods sector.
Before she joined Cadbury Nigeria, Mrs Ogundipe held senior leadership positions across diverse sectors, including Executive Director, Finance at Unilever Nigeria Plc, CFO for PES Group (Energy Services Company), and Financial Controller at Nigerdock Nigeria Ltd.
Her sector experience spans FMCG, energy services, and management consulting, giving her a broad and strategic perspective on value creation across industries.
Business
CPPE Tasks Govt to Fix Cost of Living Crisis Amid GDP Growth
Reacting on Nigeria’s third quarter 2025 Gross Domestic Product (GDP) growth of 3.98 percent , CPPE said that it’s laudable, but called for policy interventions to fix the cost of living crisis.
The Center for the Promotion of Private Enterprises (CPPE) tasks the government to ensure that GDP Growth and macroeconomic stability translate into real improvements in citizens’ welfare.
Reacting on Nigeria’s third quarter 2025 Gross Domestic Product (GDP) growth of 3.98 percent , CPPE said that it’s laudable, but called for policy interventions to fix the cost of living crisis.
Dr Muda Yusuf, CEO of the CPPE, notes that despite the improvment in the GDP, the cost-of-living crisis remains a concern .
He said: ” While disinflation is underway and prices of some food items and manufactured products are easing, the social outcomes of economic reforms continue to weigh on households.
” It is therefore imperative for policymaking to prioritise targeted interventions to address the uneasiness around the cost of living and ensure that GDP Growth and macroeconomic stability translate into real improvements in citizens’ welfare—particularly for vulnerable groups.”
To consolidate the gains recorded in Q3 and unlock stronger, more inclusive growth, Dr Yusuf, said that the following policy interventions are critical:
Reduce Structural Bottlenecks
Address energy supply constraints, reduce logistics costs, improve port efficiency, and accelerate transport infrastructure development.
Mitigate the Cost-of-Living Crisis
Implement targeted social interventions and remove structural impediments that elevate consumer prices.
All tiers of government [local, state and federal] must sustain targeted interventions in agriculture, pharmaceuticals, transportation and energy to fix the cost of living crisis.
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