General
SERAP Tasks Tinubu to Suspend Pensions for Wike, Umahi, Others
By Adedapo Adesanya
Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to publicly instruct former governors who have been appointed to serve as ministers in his administration to stop collecting life pensions, exotic cars, and other allowances from their states.
The President was asked to “instruct the former governors to immediately return any pension and allowances that they may have collected since leaving office to the public treasury.”
In a statement on Sunday signed by SERAP Deputy Director, Mr Kolawole Oluwadare, the rights group argued that, “The appointment of former governors who collect life pensions while serving as ministers is implicitly forbidden by the Nigerian Constitution 1999 [as amended] and the country’s international legal obligations.”
Business Post earlier reported that President Tinubu named eight former governors, which include Mr Badaru Abubakar; Mr Nyesom Wike; Mr Bello Matawalle; Mr Adegboyega Oyetola; Mr David Umahi; Mr Simon Lalong; Mr Atiku Bagudu; and Mr Ibrahim Geidam, as new members of his cabinet.
“You would be acting in the public interest by stopping former governors now serving as ministers in your government from collecting life pensions, especially given the current grave economic realities in the country,” SERAP said in a letter dated August 19, 2023.
“If the ministers that the president appoints are those who collect life pensions rather than serve the public interest, then that may show little about the conduct and integrity of the ministers but speak volumes about the exercise of presidential power of appointment.
“Nigerians will judge you in part by the conduct, integrity and honesty of the ministers that you appoint to work in your government. Ultimately, the success of your government would depend on the conduct of the ministers that you appoint.
“While many pensioners are not paid their pensions, former governors serving as ministers get paid huge severance benefits upon leaving office and are poised to enjoy double emoluments on top of the opulence of political office holders.
“We would be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel your government to comply with our request in the public interest.
“The exercise of your power of appointment ought to reflect ethical and constitutional safeguards and requirements, and the fundamental principles of integrity and honesty.
“Stopping the former governors from collecting double emoluments would be entirely consistent with the proper exercise of your constitutional power to appoint ministers.
“Stopping the former governors from collecting life pensions would ensure that the country’s wealth and resources are used for the common good and benefit of the socially and economically vulnerable Nigerians rather than to satisfy the opulent lifestyle of a few politicians.
“Instructing the former governors now serving as ministers in your government to stop collecting life pensions from their states would also improve public confidence in the integrity and honesty of your government.
“Constitutional oath of office requires public officials to abstain from all improper acts, including collecting life pensions, that are inconsistent with the public trust and the overall objectives of the Constitution. A false oath lacks truth and justice. The oath statements require the oath takers to commit to uphold and defend the Constitution.
“According to our information, the following former governors are now ministers in your administration: Badaru Abubakar (former governor of Jigawa State and Minister of Defence); and Nyesom Wike (former governor of River State and FCT Minister).
“Others include Bello Matawalle (former governor of Zamfara State and Minister of State for Defence); Adegboyega Isiaka Oyetola (former governor of Osun State and Minister of Transportation); and David Umahi (Minister of Works).
“Others are Simon Bako Lalong (former governor of Plateau State and Minister of Labour and Employment); Atiku Bagudu (former governor of Kebbi State and Minister of Budget and Economic Planning); Ibrahim Geidam (former governor of Yole State and Minister of Police of Affairs.
“The states currently implementing life pensions for former governors reportedly include Jigawa, Kebbi, Jigawa, Ebonyi, Yobe, and Rivers. Many of these states owe workers’ salaries and remain the poorest in the country.
“Several of the pension laws in these states include provisions for six cars every three years, a house in Lagos worth N750 million, and another in Abuja worth N1 billion, unrestricted access to medical attention, and pensionable cooks, stewards, and gardeners.
“Other provisions include 100 per cent annual salaries of the incumbent governor, security operatives and police officers permanently assigned to former governors.
“SERAP notes that in your inaugural speech as President, you promised that your administration will be guided by ‘the principle of the rule of law, a shared sense of fairness and equity’, and that ‘Nigeria will be impartially governed according to the constitution.’
“These commitments are consistent with your constitutional duties under sections 5, 130 and 147, and oath of office, under the Seventh Schedule to the Constitution of Nigeria 1999 (as amended).
“By the combined reading of these provisions, your government has a legal obligation to appoint as ministers former governors whose conduct is entirely consistent and compatible with constitutional and international legal requirements.
“These constitutional provisions also require you to instruct the former governors to stop collecting life pensions and to return any pensions collected to the public treasury.
“The country’s international legal obligations, especially under the UN Convention against Corruption, also impose a legal commitment on public officials to discharge a public duty truthfully and faithfully.
“Life pensions for former governors serving as ministers are entirely inconsistent and incompatible with the Nigerian Constitution and the country’s obligations under the UN Convention against Corruption.
“The convention, specifically in paragraph 1 of article 8 requires you and your government to promote integrity, honesty, and responsibility in the management of public resources.
“Furthermore, Justice Oluremi Oguntoyinbo, in a judgment dated November 26, 2019, also indicated that double emoluments for former governors are unacceptable, unconstitutional, and illegal. Indeed, former governors collecting life pensions while serving as ministers would clearly amount to taking advantage of entrusted public positions.
“Public function’ means activities in the public interest, not against it. The alleged collection of life pensions by former governors now serving as ministers amount to private self-interest or self-dealing. It is also detrimental to the public interest,” the letter further read.
By Adedapo Adesanya
The chief executive of Oando Plc, Mr Wale Tinubu, says the African Export-Import Bank (Afreximbank) is now the largest financier of oil and gas projects on the African continent.
Mr Tinubu said the bank has committed over $25 billion in Africa’s oil and gas sector while speaking at the Royal African Society’s conference in London on the next 125 years of mining, oil and gas in Africa, according to a social media post on Wednesday.
“Afreximbank is now the largest financier of oil and gas on this continent, with more than twenty-five billion dollars committed,” he wrote on X.
Mr Tinubu said 20 years ago, when Oando wanted to list on the Johannesburg Stock Exchange, “we were told what would be required of us”.
He said the company was directed to adopt International Financial Reporting Standards (IFRS), while the board was also asked to appoint independent directors who could tell the founder “no”.
“Get on a plane and explain ourselves, quarter after quarter, to people who had never set foot in Lagos. It was uncomfortable. It was also the most valuable thing we ever did to ourselves,” he said.
“I returned to that experience in London at the Royal African Society’s (@royafrisoc) discussion on the next 125 years of mining, oil and gas in Africa, where I was asked what African companies need in order to scale.
“The answer begins at home. Much of African enterprise started out fractured; family-held, informally governed, structurally invisible to anyone underwriting a twenty-year risk. Global capital hesitates over what it cannot examine.”
The Oando CEO said governance is more than a compliance exercise, describing it as an instrument that makes a company legible to the world.
“The second half of the answer sits with the world. When European lenders withdrew from African hydrocarbons in pursuit of their own net zero commitments, they did not end demand for African energy,” he said.
“They ended their participation in it. African institutions stepped into that space.”
Mr Tinubu said African firms have done the harder work “of making ourselves investable”, noting that what does not get financed does not get built, and “there is still much to build in Africa for those willing to build it with African companies”.
In Nigeria, the bank has been a major financier of the 650,000 barrels-per-day Dangote Petroleum Refinery, including a $1.35 billion facility in 2025 to refinance construction costs and a further $2.5 billion underwriting commitment in 2026.
The bank has also supported the development of the 200,000 barrels-per-day Lobito Refinery in Angola, the 60,000 barrels-per-day Cabinda Refinery, and the refurbishment of Nigeria’s 210,000 barrels-per-day Port Harcourt Refinery. It has additionally approved financing for the BUA and Azikel refineries in Nigeria and supported Société Ivoirienne de Raffinage in Côte d’Ivoire.
Beyond refining, Afreximbank committed up to $400 million in guarantees and direct lending to Mozambique’s Area 1 LNG project, one of Africa’s largest LNG developments, to support the extraction, processing and liquefaction of offshore gas.
In Angola, the bank helped arrange a $1.75 billion syndicated facility for Sonangol to support the national oil company’s operating and capital expenditure requirements. It has also been mandated to advise on raising capital for Equatorial Guinea’s $4.5 billion EG-27 LNG project, which is expected to produce about 2.4 million tonnes of LNG annually. In the Democratic Republic of Congo, the lender is supporting preparations for a 200MW reservoir-based hydropower project along the Lufira River, designed to provide electricity to mining operations.
By Modupe Gbadeyanka
The Ogoni people have been assured of a good deal emanating from the ongoing dialogue with the federal government on the planned resumption of oil exploration in the area.
This assurance was given by the Movement for the Survival of the Ogoni People (MOSOP) through its leader, Mr Fegalo Nsuke, at the group’s steering committee meeting on Wednesday.
In a statement signed by the Secretary General of MOSOP, Mr Alex Akori, it was stressed that for over 30 years, the Ogoni people have sought a mutual dialogue with the central government, and that is now ongoing, with substantial progress being made on the part of community mobilisation and the dialogue process.
“For over 30 years, we have advocated for a peaceful resolution of the Ogoni conflicts. I am glad that the dialogue is ongoing and it is going well. I am also very optimistic that we will strike a good deal from the process,” Mr Nsuke stated.
He described the dialogue process as a reward for non-violence, urging other regions of the country to emulate the peaceful resistance of the Ogoni people rather than taking to armed struggle.
“The Ogoni dialogue process is significant for several reasons. First, it has gained overwhelming acceptance as a pathway to resolve the Ogoni problem, and that is very important. Secondly, it is an encouragement for non-violent struggles. Thirdly, it is people-centred and designed to accelerate development in Ogoni,” Mr Nsuke added.
He thanked the Ogoni people for giving peace a chance and for accepting to go into a dialogue describing the initiative as one of the best decisions ever taken in the direction of a three-decade search for peace, development and a new beginning for the Ogoni people.
In a related development, the MOSOP Steering Committee, the highest decision-making organ of the organisation, elected Mr Nwale Emereonwi, Mr Kpoobari Gbidum, and Lekue Zini as Deputy President, Assistant Secretary-General, and President of the National Youth Council of Ogoni People (NYCOP), respectively.
By Adedapo Adesanya
The Nigerian Shippers’ Council (NSC) has formally transitioned into the Nigeria Ports Economic Regulatory Agency (NPERA) following President Bola Tinubu’s assent to the Nigerian Ports Economic Regulatory Agency Act, 2026.
The Act establishes NPERA as the statutory authority responsible for the economic regulation of ports in the country.
Speaking at a press briefing in Lagos, Mr Ibrahim Shema, chairman of the NPERA governing board, described the development as a major institutional reform aimed at creating a more transparent, predictable, and competitive port environment.
Mr Shema said NPERA would be responsible for the economic regulation of port services and related activities, including tariffs and charges, licensing, service standards, fair competition, commercial dispute resolution, trade facilitation, and protection of port users.
He said the new framework is expected to provide greater regulatory certainty for shipping lines and terminal operators, while offering importers, exporters, freight forwarders, and clearing agents more predictable procedures, fairer charges, and improved mechanisms for resolving disputes.
The chairman clarified that the establishment of NPERA does not create a competing authority with the Nigerian Ports Authority (NPA).
“While the Nigerian Ports Authority will retain responsibility for port infrastructure and its landlord functions, NPERA will provide independent economic oversight within its statutory mandate,” Mr Shema said.
He said NPERA’s regulatory approach will be anchored on five principles: transparency, fairness, predictability, efficiency, and accountability.
The board’s chairman said the new agency would deploy technology and data to strengthen licensing, tariff administration, monitoring, compliance, reporting, and stakeholder engagement.
“The agency also plans to work with key maritime institutions, including the Nigerian Ports Authority, NIMASA and the Nigeria Customs Service, as well as terminal operators, shipping lines, freight forwarders, manufacturers, investors and other industry stakeholders,” he said.
Mr Shema said the immediate priority is to ensure an orderly transition from the NSC to NPERA, while maintaining continuity in essential regulatory functions and preserving institutional knowledge.
The chairman stressed that the success of the new agency would ultimately be measured by its impact on port users and the wider economy.
“Effective implementation of the Act should translate into better services, greater efficiency, lower uncertainty, fair competition, and stronger trade facilitation,” Shema added.
On his part, Mr Pius Akutah, executive secretary and chief executive of NPERA, expressed optimism that the new law would significantly clarify the regulatory environment governing Nigeria’s ports within the next one to two years.
Mr Akutah said the NPERA Act would give the agency stronger powers to improve commercial dispute resolution and protect the interests and welfare of port users and other stakeholders, adding that the new regulatory framework would enable the agency to deliver a more efficient, transparent, and competitive Nigerian port system.
