General
Lokpobiri, Ahmed, Others to Speak on Nigerian Oil Reforms, Fiscal Incentives at AEW 2024
By Adedapo Adesanya
Nigeria policymakers will discuss the country’s latest policy directives and investment opportunities across exploration, gas monetization, and refining at the upcoming African Energy Week: Invest in African Energy conference set to be held in November.
Nigeria, Africa’s largest oil producer, is targeting $10 billion in oil and gas investments in the next 12-18 months but still faces challenges including oil theft, underinvestment, and a fresh wave of divestments.
Nigeria has implemented a slate of reforms aimed at creating a more favourable investment climate and improved governance within the sector.
According to a statement, the conference will have an Invest in Nigeria Energies roundtable which will outline the ample opportunities for investors and project developers to grow the energy value chain of Africa’s largest crude oil producer, highlighting the latest policy directives, consolidated fiscal incentives and gas utilization investment allowances.
The session places Nigerian policymakers in conversation with industry regulators and associations, exploring the latest policies, regulations and investment opportunities currently shaping the market.
The discussion will be led by Mr Heineken Lokpobiri, the Minister of State for Petroleum Resources (Oil); Mr Abdulrazaq Isa, Chairman of the Independent Petroleum Producers Group of Nigeria; and Mr Farouk Ahmed, CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
The discussion will also feature representatives from IOCS including ExxonMobil and Chevron.
President Bola Tinubu introduced several policies earlier this year – in addition to the ongoing implementation of the Petroleum Industry Act – to reinvigorate the country’s energy sector and retain its position as a regional powerhouse.
According to him, these new measures aim to deliver a competitive Internal Rate of Return for oil and gas projects and attract over $10 billion in new investments within the next 12-18 months.
For new exploration, this includes streamlining contracting procedures by raising approval thresholds for PSCs and JOAs to not less than $10 million, simplifying processes and extending the duration of third-party contracts from three to five years.
This serves to reduce project contracting cycles, leading to faster oil and gas production and supporting Nigeria’s long-term oil production target of 4 million barrels per day.
Nigeria is also targeting new investments in gas monetization, refining and infrastructure expansion, with a view to boosting gas supplies, raising power access and supporting industrialization.
Business Post reports that gas-focused reforms, including tax credits for non-associated gas projects and a 25 per cent tax dedication for qualifying plant and equipment used in gas utilization projects, have also been disclosed to trigger new investments.
In June 2024, TotalEnergies and the Nigerian National Petroleum Company (NNPC) reached a $550 million FID for the development of the Ubeta gas field. Gas from the field will be supplied to the Nigeria LNG liquefaction plant, with first production anticipated for 2027, and support the country’s transition toward low-cost and low-emission projects.
In the downstream industry, Nigeria has been in the process of deregulating the sector, improving fuel availability and affordability, eliminating government subsidies and improving efficiencies, the statement noted.
Also, the long-awaited Dangote Refinery began operations in late 2023 and hopes to transform Nigeria into a net exporter of refined petroleum products to Europe, Asia and Africa. With a capacity of 650,000 barrels per day, the refinery is Africa’s largest and its operational success is crucial for stabilizing domestic fuel prices, reducing import dependency and increasing foreign exchange earnings.
General
Lagos to Probe Alakija Building Collapse, Prosecute Culprits
By Adedapo Adesanya
The Lagos State Government has said it will investigate the collapse of a three-storey building in the Alakija area of the state and prosecute anyone found culpable, while warning residents against ignoring evacuation notices issued on distressed structures.
The Commissioner for Information and Strategy, Mr Gbenga Omotoso, gave the warning on Friday while commiserating with the families of the victims, describing the incident as unfortunate.
“Our first duty is to commiserate with the families who lost their loved ones in this unfortunate incident. On behalf of Governor Babajide Sanwo-Olu, we sympathise with them and pray that such a tragedy never occurs again,” he said.
Latest update from the state government put the casualty figures at 27 rescued and nine fatalities, including a baby.
He disclosed that 27 persons were rescued alive from the rubble, while nine others lost their lives despite overnight rescue efforts.
“By the grace of God, we have been able to rescue 27 people. Unfortunately, we lost nine persons and this is very sad. We share the pain of the affected families,” he said.
According to the commissioner, the collapsed building had earlier been identified as distressed and marked for evacuation, but some occupants allegedly returned after initially leaving.
“As you can see, these buildings had been marked as distressed and people were asked to leave. Unfortunately, some residents returned after pretending to have moved out, leading to this tragic outcome,” Mr Omotoso said.
He added that other distressed buildings in the area would be demolished to prevent similar incidents.
“All the buildings that have been identified as defective will go down. We cannot wait until another tragedy occurs before taking action. The protection of lives remains our priority,” he said.
Mr Omotoso also condemned the construction and occupation of buildings beneath high-tension power lines, describing the practice as unsafe and unacceptable.
“It is not done in any civilised society. Such developments show disregard for safety regulations and contempt for the law. Government will continue to clamp down on such violations,” he said.
He assured residents that a full investigation into the collapse had commenced, stressing that anyone found responsible would face prosecution.
“The owners of the building are under investigation. Anybody found complicit in this tragedy will face the law. They will be prosecuted because no one is above the law,” he said.
The commissioner said most of the rescued victims sustained no life-threatening injuries, while those requiring further medical attention had been taken to the hospital.
He also praised the Lagos State Emergency Management Agency, the Lagos State Fire and Rescue Service, the police, the military, neighbourhood safety personnel and other emergency responders for their swift response.
“I must commend all our emergency responders who worked tirelessly throughout the night to save lives and bring the situation under control,” he said.
Mr Omotoso urged residents to prioritise safety over economic considerations.
“The most important lesson from this incident is that nobody should prioritise livelihood over life. Once life is lost, everything is lost. No business is worth risking human lives for,” he added.
General
Deregistration: Peter Obi’s NDC to Challenge High Court Judgment
By Modupe Gbadeyanka
The Nigeria Democratic Congress (NDC), founded by Mr Seriake Dickson, has reacted to reports claiming that a Federal High Court in Lokoja, Kogi State, has ordered its deregistration by the Independent National Electoral Commission (INEC) over an alleged logo infringement.
In a statement on Friday, the political party, which presented Mr Peter Obi as its presidential candidate for the 2027 general elections, said it had instructed its lawyers to challenge the judgment said to have been delivered by Justice Isah Dashen.
“Our attention has been drawn to a ruling by the Federal High Court sitting in Lokoja this morning, wherein His Lordship, Honourable Justice Isah Dashen, gave a ruling on an application filed by an unregistered association known as Peace Movement Party.
“The public knows that by December 2025, the Nigeria Democratic Congress, as an association, complained of INEC’s refusal to register us as a political party, whereupon we proceeded to the Federal High Court. The Federal High Court upheld our constitutional right to freedom of association under the Constitution and compelled INEC to register us, which INEC did.
“Since then, we have started political activities, embarked on the registration of members, held congresses from ward to national levels, held conventions, and concluded primaries to all offices following INEC’s timetable. We have been fully participating in all INEC activities without let or hindrance.
“NDC also fielded candidates, and fully participated in the just-concluded bye elections in Nasarawa and Enugu states.
“Candidates for the House of Assembly, House of Representatives, Senate, Governorship, Presidential, and Vice-Presidential positions have been duly nominated, and we are in the process of formally submitting them to INEC in accordance with INEC’s timetable.
“The association that filed the complaint is unknown to us. The Peace Movement Party (PMP) is not a registered political party in Nigeria. They claimed, in a motion (not even a substantive suit or appeal), that the court should set aside its earlier judgment on the purported ground that, in 2015, they had sought registration as a political party with the victory sign as their symbol and were denied.
“It is important to note that they are not an association applying for registration now under the exercise that started last year. They are also not a registered political party in Nigeria participating in the political process now, as we are.
“Furthermore, the court, having delivered a final judgment in our suit against INEC, had become functus officio. The court had also dealt with all related issues concerning associations claiming they wanted to use the same symbol and colours. The court, in its judgment, overruled INEC when those issues were raised, and there is no appeal against that judgment.
“Therefore, we are surprised that, on an application by an association claiming that it wanted to register as a political party with the victory sign in 2015—an association that is not a registered political party and is not seeking registration now to participate in the current political process—His Lordship came to the conclusion that they have locus standi, and furthermore, that he has jurisdiction to do what he did.
“Accordingly, we have been informed that His Lordship made an order setting aside the court’s earlier decision of December 2025.
“There was no order directing our deregistration. However, we are dissatisfied with the decision that has been made, and we have instructed our team of lawyers to immediately proceed to the Court of Appeal to challenge the jurisdiction and propriety of His Lordship’s order.
“We assure the general public, and particularly our candidates at all levels, that our party is on course. The NDC has not been deregistered, and we are challenging today’s order at the Court of Appeal as soon as possible. We have no doubt that justice will be done.
“We condemn efforts by those who seek to shrink the democratic space and stifle opposition voices and alternatives. Nigerians have a right to a full range of opinions, ideas, and alternatives, and political platforms and candidates should be allowed to participate in the 2027 general election process, which has already gone midway,” the statement read.
General
Makinde Extends Curfew in 10 Local Governments by 24 Hours
By Adedapo Adesanya
The Governor of Oyo State, Mr Seyi Makinde, has approved the extension of the curfew imposed on 10 local government areas bordering the Old Oyo National Park by an additional 24 hours.
The development was announced in a statement issued by the Secretary to the State Government, Mr Musibau Babatunde, and signed by the Special Adviser to the Governor on Media, Mr Suleiman Olanrewaju.
The state government had, on June 23, 2026, imposed a dusk-to-dawn curfew from 4:00 pm to 8:00 am on the affected local government areas as part of measures to address the prevailing security situation.
With the extension, the curfew, which was initially scheduled to last 48 hours, will now remain in force until Saturday, June 27, 2026.
The affected local government areas are Oriire, Orelope, Irepo, Saki West, Saki East, Atisbo, Itesiwaju, Iseyin, Olorunsogo and Atiba.
The government urged residents of the affected areas to continue cooperating with security agencies and to comply fully with the directive as efforts continue to safeguard lives and property.
This development follows the abduction of 39 students and seven teachers in an attack targeting several schools in Nigeria’s southwestern Oyo State in May.
The attack took place in Ahoro Esinele community in Oriire district, targeting a secondary school and two primary schools, according to officials. With over 40 days in captivity, all rescue efforts have so far not yielded results.
Mass kidnappings by armed groups have become a serious security challenge in Nigeria in recent years, with criminal gangs exploiting weak security to target travellers, students, and rural communities for cash payments. Schools are often targeted, although such attacks used to be rare in the southwest of the country.
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