General
Ibadan Explosion: Governor Makinde Calls for Calm
By Dipo Olowookere
The Governor of Oyo State, Mr Seyi Makinde, has urged residents of the state, particularly those in the Ibadan metropolis, to remain calm after an explosion rocked the ancient city on Tuesday night.
Business Post gathered that a deafening sound was heard in the Bodija area of Ibadan, affecting several buildings, including the popular Ace Mall.
There had been rumours that the explosion was from a gas station, while others claimed it was from a bomb.
But in a statement issued by the Commissioner for Information and Orientation, Mr Dotun Oyelade, the cause of the unfortunate incident was not disclosed.
The Commissioner only said Mr Makinde appealed to residents to “calm down” as their “interests are being looked after.”
He also disclosed that security officials have been deployed to the scene of the explosion to ascertain its cause and bring the situation under control.
“Residents of Ibadan and the immediate environ experienced an uncommon explosion at about 8 pm this evening.
“There are various interpretations of the incident but it is important for us to state categorically that the state government has taken over and is in full control of the unfortunate occurrence in order to mitigate the incident.
“All security service chiefs including paramilitary chiefs and fire operatives have been deployed by the governor to Reign in the spillover from the explosion.
“Governor Seyi Makinde, therefore, implores citizens to calm down and be assured that their interests are being looked after,” the statement said.
General
Court Affirms FCCPC Authority to Investigate Consumer Complaints
By Adedapo Adesanya
The Federal High Court in Abuja has affirmed the powers of the Federal Competition and Consumer Protection Commission (FCCPC) to receive complaints, assess matters brought before it, and take appropriate lawful steps, including investigation where necessary.
In a judgment delivered on Monday by Justice James Omotosho, he dismissed the suit filed by Air Peace Limited challenging the commission’s authority to investigate consumer complaints and issue summons in the exercise of its statutory mandate.
Justice Omotosho affirmed the organisation’s powers under the Federal Competition and Consumer Protection Act, 2018 (FCCPA) to receive complaints, assess matters brought before it, and take appropriate lawful steps, including investigation where necessary.
Welcoming the decision, the chief executive of the FCCPC, Mr Tunji Bello, said the judgment provided useful clarity on the importance of regulatory oversight in protecting consumers and promoting fair market practices.
He noted that the matter arose from complaints relating to unrefunded ticket fares, cancelled flights, and other service concerns affecting passengers.
Mr Bello reiterated that consumers, who pay for services, were entitled to fair treatment, transparency, and redress in accordance with applicable law.
He further described investigation as an administrative process intended to establish facts and determine whether further action is warranted. It does not amount to a finding of liability or wrongdoing.
According to him, the commission is committed to engaging all market participants in a fair, professional, and transparent manner, while ensuring due process at every stage of its proceedings.
He encouraged businesses operating in Nigeria to cooperate with lawful regulatory processes and to maintain effective complaint resolution systems that address consumer issues promptly and fairly.
The FCCPC will continue to act within its statutory mandate to protect consumers, promote competitive markets, and strengthen confidence in essential service sectors, including aviation.
The Federal Competition and Consumer Protection Commission is Nigeria’s primary competition and consumer protection authority established under the Federal Competition and Consumer Protection Act, 2018.
General
2025 Coup Scare: FG Files Charges Against Suspects
By Adedapo Adesanya
The federal government has filed a 13-count charge before the Federal High Court, Abuja, against alleged plotters of a coup against President Bola Tinubu.
Among the suspects are a retired major general, a retired naval captain, a serving police inspector, and three others.
Recall that in January, the Nigerian armed forces confirmed that some of its personnel actually attempted to overthrow the government of President Tinubu in October 2025.
This followed speculations that the October 1 parade last year was abruptly cancelled due to an alleged attempt to remove Mr Tinubu from office by some members of the Armed Forces of Nigeria (AFN), with 16 persons arrested over the issue.
At the time, the Defence Headquarters said investigations had “identified a number of officers with allegations of plotting to overthrow the government” and would be “formally arraigned before an appropriate military judicial panel to face trial.”
“The comprehensive investigation process, conducted in accordance with established military procedures, has carefully examined all circumstances surrounding the conduct of the affected personnel. The findings have identified a number of officers with allegations of plotting to overthrow the government, which is inconsistent with the ethics, values and professional standards required of members of the AFN.
“Accordingly, those with cases to answer will be formally arraigned before an appropriate military judicial panel to face trial in accordance with the Armed Forces Act and other applicable service regulations. This ensures accountability while upholding the principles of fairness and due process.
“The AFN reiterates that measures being taken are purely disciplinary and part of ongoing institutional mechanisms to preserve order, discipline and operational effectiveness within the ranks. The Armed Forces remain resolute in maintaining the highest standards of professionalism, loyalty and respect for constitutional authority,” the statement read in parts.
General
Olam Agri Launches $50m Agro-Processing Facility in Kwara
By Adedapo Adesanya
Olam Agri, a leading global agribusiness firm, has opened a $50 million state-of-the-art soybean crushing plant and feed milling facility in Ilorin, Kwara State, marking a significant boost to the nation’s agricultural processing capabilities.
This integrated facility, the largest of its kind in sub-Saharan Africa, boasts an annual processing capacity of 250,000 to 350,000 metric tonnes of soybeans, addressing Nigeria’s rising demand for high-quality animal feed and edible oils.
The plant, recently opened, will primarily source soybeans from local farmers, strengthening the domestic supply chain and reducing reliance on imports.
It directly supports Olam Agri’s subsidiary, Ruyat Oil, while supplying raw materials to the adjacent feed mill, which produces poultry and aquaculture feeds.
Olam Agri’s feed milling unit and its edible oil subsidiary, Ruyat Oil, specialise in processing and refining various vegetable oils for the Nigerian market.
This expansion builds on Olam’s existing operations in Kwara and Kaduna States, where it already runs major poultry feed mills and Africa’s first aqua feed plant in the region.
Alongside the plant’s commissioning, Olam Agri unveiled a new consumer product, Mama’s Pride Soya Oil, a refined, cholesterol-free cooking oil aimed at Nigerian households.
Speaking at the event, the company’s Africa Head of Edible Oil Processing, Mr Saurabh Kumar, described the product as a developed innovation tailored for Nigerian kitchens and homes, expressing confidence that it will redefine market standards.
“Mama’s Pride Soya Oil is proudly produced in Nigeria for Nigerians. It is thoughtfully developed as a product consumers can trust for their everyday cooking,” he said.
The company’s Head of Marketing, Mr Bola Adeniji, emphasised the importance of promoting authentic and healthy edible oil options in Nigeria, noting that Mama’s Pride Soya Oil offers quality, safety, and nutrition, and called on trade partners to help eliminate adulterated products from the market.
The new edible oil product is available nationwide in multiple packaging formats, including PET bottles, pouches, and bulk containers, enabling broad market penetration across different income segments.
Olam Agri, which specialises in food, feed and fibre, is committed to a fully integrated approach working closely with farmers through structured support systems, improving yields, and producing and processing locally.
This captures the agribusiness’s focus on fostering positive economic impact through improved value chain productivity, a nutritional landscape, human capital development, and job creation in Nigeria.
On his part, Mr Anil Nair, Country Head and Managing Director of Olam Agri Nigeria, affirmed that the business will continue to invest in developing key value chains, food safety, and supporting Nigeria’s economic growth in line with the government’s Renewed Hope Agenda.
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