Business
Satchets Alcohol Manufacturers Cry Out to Tinubu to Overide “NAFDAC’s Ban
The Senate, in its own wisdom, did not hear from other parties before the present situation we find ourselves in. This is, therefore, not a regulation; this is calculated economic suffocation.
• Collage : NAFDAC DG, Prof Mojisola Adeyeye; FOBTOB President, Jimoh Oyibo.
THE National Agency for Food and Drug Administration and Control (NAFDAC) ban on local production and distribution of sachets alcohol and 10cl PET bottles have started telling on the economy, according to the Food and Beverage Producers union- FOBTOB., prompting their calls for intervention by President Bola Ahmed Tinubu , his cabinet and other well meaning Nigerians, to :
“Let the factories be reopened.Let the warehouses be unsealed.Let the depots be reopened.Let regulation replace repression.Let dialogue replace destruction.Let policy replace punishment.”
Jimoh Oyibo, President of FOBTOB, at a press conference in Lagos, paints the grim pictures of the ban , barley in its two months :
” Across the country, indigenous manufacturing companies, especially factories are being shut down. Depots are being closed. Warehouses are being locked including those that contain multiple other lawful products not connected to the targeted items.
“The consequences are already visible because workers are losing their jobs daily. Families have started to loose their income, businesses collapsing, supply chains breaking, tax revenues to the Federal Government reducing,” he said.
He emphasised that above all, local investment confidence is being destroyed, and that an economy cannot survive when industries are shut down instead of regulated.
Read Also: Are The Ministers of industry Leaving Manufacturers To Face Challenges?

The speech reads:
” Gentlemen and Ladies of the press and fellow Nigerians, we address you today February 26, 2026 with deep pain, growing fear, and a heavy sense of injustice over the ongoing actions of under the leadership of Professor Mojisola Adeyeye, the Director-General.
This approach is creating widespread confusion, fear, and economic paralysis and we are compelled to ask Professor Mojisola Adeyeye the following questions.
What is her real motive behind this method of enforcement?
Why are entire facilities being shut down instead of applying controlled, targeted regulation?
Why are lawful businesses, workers, transporters, retailers, and suppliers being collectively punished?
The fact is undeniable that all stakeholders met including the House committe on alcohol of the House of Representatives, Honorable Minister of Health, Professor Mojisola Adeyeye,
The Nigerian Police, Customs, Immigration, Federal Road safety corps, manufacturers, Road transport Unions and many other representatives where this issue of alcohol intake by underaged was discussed and the general resolution was access control, massive enlightenment and educational sensitisation drive amongst other resolutions and not total ban as been carried out by Professor Mojisola Adeyeye.
While a policy document which was to serve as a National guide was being awaited, Professor Mojisola Adeyeye rushed behind everyone to approach the Senate for total ban.
The Senate, in its own wisdom, did not hear from other parties before the present situation we find ourselves in. This is, therefore, not a regulation; this is calculated economic suffocation.
children whom she claimed to be protecting are being forced out of school and embracing uncontrolled vices including forced labor or prostitution, with signs of increase in poverty and without doubt, crime risks will rise and this can be a security problem to Nigeria.
We reject the idea that total bans and mass shutdowns are solutions.
Access control is better than total prohibition.
Regulation is better than destruction.
Enlightenment is better than force.
Structured policy is better than blanket punishment.Cutting off a head is not the cure for a headache.
Dialogue is always stronger than destruction.Reform is better than repression.
Control is better than collapse.Factories are not just buildings, they are ecosystems that revolve round – Transporters who are into haulage- Raw material suppliers- Distributors- Retailers- Market women- Artisans- Warehouse operators- Support services- Logistics workers All of them are now suffering because of this policy direction.
We are therefore making this national appeal:
To the Federal Government of Nigeria
To the conscience of leadership
To the defenders of democracy
To the guardians of the economy
Please intervene and prevail on Professor Mojisola Adeyeye for a rethink
Please speak to the conscience of leadership. Stop Professor Mojisola Adeyeye before she destroy Nigeria and Nigerians.
We have no other country to call ours. 2027 elections are fast approaching and this is not the time to loose jobs.We are not criminals.
We are not kidnappers.We are not robbers.We are not extremists.We are not enemies of the state.We are workers.
We are producers.We are parents.We are taxpayers.We are citizens.
We are Nigerians.The only work we know is factory work.
The only livelihood we have is production.The only dignity we have is honest labor.We therefore appeal strongly and respectfully: .
Total bans are not the way forward.Controlled access is the way forward.Education is the way forward.Regulation is the way forward.
Partnership is the way forward.We bring this message before the press, please help circulate our pleas.
We bring it before the nation, this is a security crisis in the making.We bring it before the world, Nigeria is too volatile for another crisis.
This is our appeal.
This is our cry.This is our plea.
This is our stand.Let our industries and factories live.
Let our people work and contribute to the growth of the Nigerian economy.
Let our economy breathe, not to suffocate.”
Business
Nigerian Lawmakers Demand Arrest of World Bank Official Calling for Reinstatement of Petroleum Import Licences
Declaring the unnamed World Bank official persona non grata, the Committee gave the Bank 30 days to issue a public retraction and written apology.
The House of Representatives Committee on Petroleum Resources (Downstream) has call for the dismissal and arrest of the World Bank official responsible for the April 7, 2026 Nigeria Development Update, which recommended the reinstatement of petroleum import licences.
The Committee described the recommendation as a reckless move capable of undermining Nigeria’s indigenous refining capacity.
In a formal resolution, the Committee condemned the World Bank report, which claimed that imported petroleum products are 12 percent cheaper than those from the Dangote Refinery.
It rejected the position as contrary to Nigeria’s national economic interest and an unacceptable interference in the country’s sovereign petroleum policy.
Declaring the unnamed World Bank official persona non grata, the Committee gave the Bank 30 days to issue a public retraction and written apology.
It further demanded that the staff member responsible for the report be relieved of their duties and subjected to investigation.
Business
Senate approves Tinubu’s $516.3m loan
The syndicated financing facility is being sought from Deutsche Bank, according to a letter of request Tinubu sent to the Senate last Thursday.
The Senate has approved the $516.3 million loan requested by President Bola Ahmed Tinubu.
The money will be used for the construction of the Sokoto-Badagry Superhighway (Section One, Phase 1A and B).
The approval was given on Wednesday after the Senate considered the report of its Committee on Local and Foreign Debts.
The committee, chaired by Senator Magatagarda Wamakko, recommended the approval of the loan.
The syndicated financing facility is being sought from Deutsche Bank, according to a letter of request Tinubu sent to the Senate last Thursday.
Business
Ibukun Awosika resigns from Cadbury board
The resignation takes effect from May 1, 2026, according to a statement signed by the company secretary, Afolasade Olowe.
Ibukun Awosika has resigned from the board of Cadbury Nigeria Plc, after more than 16 years of service.
The resignation takes effect from May 1, 2026, according to a statement signed by the company secretary, Afolasade Olowe.
The board expressed appreciation for her contributions since joining as a Non-Executive Director in October 2009 and noted that a replacement would be announced in due course.
-
News2 days agoFG declares May 1 public holiday to mark Workers’ Day
-
News2 days agoTinubu moves Bianca Ojukwu to foreign minister
-
Business2 days agoIbukun Awosika resigns from Cadbury board
-
Business2 days agoSenate approves Tinubu’s $516.3m loan
-
Politics1 day agoBREAKING: Supreme Court Again Voids PDP’s Ibadan Convention In The Second Appeal
-
News2 days agoTinubu designates Rabiu Umar new CEO of NMDPRA
-
International2 days agoUS war in Iran has cost $25 billion so far, says Pentagon official
-
Politics2 days agoSupreme court rules on ADC and PDP crisis today
