Economy
NDDC Flags Off Talent Hunt to Reduce Youth Unemployment
By Adedapo Adesanya
The Niger Delta Development Commission (NDDC) has flagged off a programme targeted at youths to harness their creative gifts in the entertainment industry and reduce unemployment across the region.
While flagging off the programme – Niger Delta Talent Hunt (NIDETH) – at the commission’s headquarters in Port Harcourt, the Interim Administrator of NDDC, Mr Effiong Akwa, assured that the agency would continue to create programmes to address the challenges of youths in the region as well as elevate the initiatives of youths in the Niger Delta.
“Niger Delta is blessed. Let me use this opportunity to tell the world that the youths of the Niger Delta are the best you can find around the world. They are calm and confident, they seek to excel in whatever endeavour they find themselves in.
“In the field of soccer the youths of Rivers State and Akwa-Ibom are taking the lead; wrestling, Delta and Edo are tops; swimming Bayelsa and Rivers are unbeatable.
“Our focus in this programme is to identify the talented youths, build them up and expose them to the world. We want to use this as an opportunity to provide a platform to expose the hidden talents in the region. If you build the youth, you build the nation,” he said.
Also speaking, Mr Akwa’s Special Adviser on Youths, Mr Udengs Eradiri, described the Niger Delta youths as enterprising, observing that musical talents from the region had challenges in getting support and platforms to express themselves.
“The creative industry is one area in that we can engage a lot of idle young people. We will continue to play our role in supporting institutions to create the platform to push our young people into the international community. We must keep the creative sector alive in the Niger Delta to develop young talents and showcase them to the world.
“The Niger Delta youths need to be a part of these opportunities. We need to create engagements so that young people, who have a lot of energy can channel it towards talent development. The work of the NDDC is that of an interventionist agency. It is part of our job to create opportunities for young people to express themselves.”
In his remarks, the NDDC Director, Youths and Sports, Mr Offiong Ephraim, said that NIDETH was a flagship programme of the NDDC Youths and Sports Directorate aimed at exposing the inherent talents in the Niger Delta region.
Mr Ephraim said the talent hunt programme would kick off from the first phase which is Ondo, Edo and Delta State and followed by the other phases with the grand finale taking place in Port Harcourt, Rivers State noting that it would cover the nine states of the Niger Delta Region.
Also present was Mr Okiri Harrison, also known as Harry Song, who is an ambassador and consultant for the programme.
He said that the new NDDC youth programme was a dream come true for those in the creative sector.
By Adedapo Adesanya
Nigeria’s total public debt rose from N153.29 trillion at the end of September 2025 to N159.28 trillion in December 2025, according to the latest data released by the Debt Management Office (DMO) on Tuesday.
The increase indicates a quarter-on-quarter increase of N5.98 trillion or 3.9 per cent.
The debt office noted that the December 2025 figures are provisional and were converted using the Central Bank of Nigeria’s official exchange rate of N1,435.25/$, while the September 2025 figures were converted using N1,474.85/$.
On a year-on-year basis, the debt profile marked an increase of N14.61 trillion or 10.1 per cent, from N144.67 trillion in December 2024 to N159.28 trillion in December 2025, representing a rise from $94.23 billion to $110.97 billion, an increase of $16.75 billion, in Dollar terms.
Domestic debt remained the largest, rising from N81.82 trillion in September 2025 to N84.85 trillion in December 2025.
This represents a quarter-on-quarter increase of N3.03 trillion or 3.7 per cent compared to December 2024, when domestic debt stood at N74.38 trillion – the figure increased by N10.47 trillion or 14.1 per cent year-on-year.
In Dollar terms, domestic debt rose from $55.47 billion in September 2025 to $59.12 billion in December 2025, and from $48.44 billion in December 2024. This highlights a sustained reliance on the domestic market for financing.
The federal government accounted for the bulk of domestic debt at N80.49 trillion, representing 50.53 per cent of total public debt, while states and the Federal Capital Territory (FCT) accounted for N4.36 trillion.
Nigeria’s external debt stood at N74.43 trillion as of December 2025, representing 46.73 per cent of total public debt.
This reflects a quarter-on-quarter increase of N2.95 trillion from N71.48 trillion in September 2025, and a year-on-year increase of N4.14 trillion from N70.29 trillion recorded in December 2024.
In Dollar terms, external debt rose from $48.46 billion in September 2025 to $51.86 billion in December 2025, and from $45.78 billion in December 2024.
The federal government continued to dominate external borrowing, accounting for N66.27 trillion of the total external debt, while states and the FCT accounted for N8.16 trillion.
However, the structure of Nigeria’s debt portfolio remained broadly stable despite the increase in overall debt.
While domestic debt accounted for 53.27 per cent of total debt in December 2025, compared to 53.37 per cent in September 2025 and 51.41 per cent in December 2024, external debt stood at 46.73 per cent in December 2025, compared to 46.63 per cent in September 2025 and 48.59 per cent a year earlier.
By Dipo Olowookere
The volume of premium motor spirit (PMS), commonly known as petrol, consumed daily in Nigeria stood at 47.3 million litres in March 2026 compared with the 56.9 million litres recorded in February 2026.
This information was revealed by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) in its latest factsheet.
The decline in daily petrol consumption in Nigeria coincided with a hike in the price of the product, triggered by a rise in global crude oil prices as a result of the Middle East crisis.
The United States and Israel launched airstrikes in Iran in late February, with crude oil rising above $100 per barrel and even above $110 per barrel at one point.
The price is currently below $100 per barrel on the global market after the President of the United States, Mr Donald Trump, signalled his intention to negotiate with Iran amid the blockage of the Strait of Hormuz.
Data by NMDPRA also showed that diesel consumption eased to 14.5 million litres per day from the previous month’s 20.3 million litres per day, while aviation fuel stood at 2.1 million litres per day versus 2.9 million litres per day in February 2026.
It was also disclosed that PMS daily supply for the month under review increased to 40.1 million litres per day from the preceding month’s 39.5 million litres per day.
From this, domestic supply came down by 6.30 per cent to 34.2 million litres per day from 36.5 million litres per day, while imported petrol stood at 5.9 million litres per day versus 3.0 million litres per day a month earlier.
Business Post observed that Dangote Refinery supplied about 34.2 million litres per day of PMS into the Nigerian market from the 48.2 million litres per day it produced. The private refiner produced 16.5 million litres of diesel per day in March 2026, supplying 2.2 million litres per day into the domestic market.
In the period, the Warri and Kaduna refineries were totally shut down, while the Port Harcourt refinery, according to the report, though it was shut down, witnessed the evacuation of about 0.048 million litres of diesel per day while it was operational.
By Adedapo Adesanya
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has thrown its weight behind the World Bank call for the reinstatement of petrol import licences, warning that limited competition in Nigeria’s downstream sector is driving price instability and inflation risks.
Reacting to the World Bank’s position, PETROAN President, Mr Billy Gillis-Harry, said the recommendation reinforces the association’s long-standing advocacy for a fully liberalised petroleum market.
“Competition remains the most effective tool for stabilising prices and ensuring energy security,” Mr Gillis-Harry stated.
According to him, the restriction of supply sources has contributed to rising petrol prices, with Premium Motor Spirit (PMS) selling above import parity levels.
PETROAN noted that the World Bank had warned that continued supply rigidity, combined with rising global oil prices, could worsen inflationary pressures across the Nigerian economy.
Aligning with this position, Mr Gillis-Harry stressed that reintroducing petrol import licences would diversify supply, curb monopolistic tendencies, and protect consumers from exploitative pricing.
“A competitive and liberalised market framework is essential for ensuring price moderation, product availability, and operational efficiency,” he said.
The association also argued that the current pricing challenges could have been mitigated if Nigeria’s government-owned refineries were fully functional or properly privatised.
It called for a dual strategy of sustained fuel importation and full privatisation or restructuring of refineries in Port Harcourt, Warri, and Kaduna to drive efficiency and eliminate bottlenecks.
Drawing parallels with the telecoms sector, PETROAN cited the impact of private sector participation by firms such as MTN Nigeria and Airtel Nigeria, noting that liberalisation led to improved services, wider access, and reduced costs.
The group maintained that healthy competition would complement, not undermine, local refining efforts, including output from the Dangote Petroleum Refinery.
“Healthy competition is not a threat to local refining but a necessary mechanism to stabilise the market while domestic capacity continues to grow,” Mr Gillis-Harry said.
PETROAN urged the Federal Government, the Nigerian Midstream and Downstream Petroleum Regulatory Authority, and NNPC Limited to urgently implement policies that encourage open market participation and ensure fair pricing across the downstream value chain.
The association reaffirmed its commitment to working with stakeholders to build a “resilient, transparent, and competitive petroleum distribution system” to support economic stability.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn