General
NIMASA DG Says Cabotage Vessel Financing Fund Intact
By Adedapo Adesanya
The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Mr Dayo Mobereola, has refuted claims of the disappearance of the Cabotage Vessel Financing Fund (CVFF).
The fund was established for the purpose of developing indigenous ship acquisition capacity, and to provide financial assistance to local coastal shipping operators.
The fund, administered by NIMASA, is generated from a surcharge of 2 per cent of the contract sum performed by vessels engaged in coastal trade, monies generated from tariffs, fines and fees for licenses and waivers, a sum periodically approved by the National Assembly, and interests that accrue from loans granted from the fund.
Addressing the latest issue of missing funds, the NIMASA DG confirmed that the funds remain intact and securely lodged with the Central Bank of Nigeria (CBN) under the Treasury Single Account (TSA).
In a statement signed by the agency’s Head of Public Relations, Mr Edward Osagie, Mr Mobereola described the media reports alleging missing funds as misleading and false.
He added that the narrative appears to be an attempt to undermine NIMASA’s integrity and misinform the public about its operations.
“For the record, the Cabotage Vessel Financing Fund, securely held in the NIMASA account at the Central Bank of Nigeria, remains intact. There has been no disappearance of funds or illegal transactions as claimed in the article,” Mr Mobereola clarified.
He assured maritime stakeholders that the funds would be utilized strictly in accordance with their statutory purpose, emphasizing NIMASA’s commitment to managing the CVFF with the highest level of transparency and accountability.
“Let us be clear that the CVFF account at the Central Bank of Nigeria is safe, intact, and secure. NIMASA will continue to manage it with utmost responsibility, and there are no irregularities or illegal activities surrounding the funds.
“I urge the public to disregard this false narrative and continue trusting the Agency’s dedication to safeguarding Nigeria’s maritime sector,” he said.
The CVFF was established under Section 42 of the Coastal and Inland Shipping (Cabotage) Act 2003 and supports the development of indigenous ship acquisition capacity and provides credit facilities to local maritime operators.
Mr Mobereola reaffirmed NIMASA’s commitment to transparency, accountability, and the growth of Nigeria’s maritime industry, ensuring stakeholders that the Agency remains focused on its statutory mandates.
General
Pastor Ogbueli’s Abuja Night of Glory Holds Today
By Blaise Udunze
Momentum is gathering for the Abuja Night of Glory taking place today, Friday, December 5, 2025, at the main bowl of the Moshood Abiola National Stadium.
The crusade is being hosted by Dominion City Church headed by Pastor David Ogbueli and it starts by 7pm.
The all-night programme will feature dynamic worship leaders like Nathanial Bassey, Dunsin Oyekan, Theophilus Sunday, Chioma Jesus, Kaestrings, Sunmisola Agbebi Okeleye, Minister GUC, Ebuka Songs, Anthony Kani, and DC Angels.
Reputed as a teacher of righteousness and anointed minister of the gospel, evidenced by the miracles that have trailed his ministry, and one who champions the cause of the poor through empowerment initiatives, Dr. David Ogbueli will be joined by renowned ministers from within and outside Nigeria, including Evangelist Andres Bisonni, Dr. Charles Ndifon, Evangelist Dan Scott, Apostle Ikechukwu Nnajiofor, and several others.
Night of Glory has, in previous editions held across Nigeria’s cities, recorded remarkable results, such as immediate healings and freedom from chronic ailments, recovery of vision and movement after many years of paralysis, along with liberation from dependencies and emotional distress. Numerous participants have also shared testimonies of breakthroughs and big personal changes after the experience. Organisers state that this year’s event, in Abuja, is anticipated to exceed previous editions.
The event is intended for all individuals trusting God for divine intervention in any area of life.
Understanding the role of faith in the destiny of individuals and nations, a dedicated prayer session for Nigeria will take place during the crusade to tackle some of the current challenges being faced in the country and also to uplift he leaders and institutions before God.
Attendance is free, and registration is encouraged via the QR codes on event banners. Organisers expect a massive turnout as worshippers travel from across the country for what is anticipated to be a transformative encounter.
Adequate security and free transportation have been put in place ALL over the city of Abuja, while those outside Abuja are expected to join online.
General
Rivers Speaker, 15 Other Lawmakers Leave PDP for APC
By Modupe Gbadeyanka
The Speaker of the Rivers State House of Assembly, Mr Martin Amaewhule, has defected to the All Progressives Congress (APC).
At the plenary on Friday, Mr Amaewhule joined the ruling party from the opposition Peoples Democratic Party (PDP), along with 15 other members of the state parliament.
This development comes some months after they had earlier declared their support for the APC in the wake of a crisis with the state governor, Mr Sim Fubura.
The lawmakers had an issue with Mr Fubura, which led to a state of emergency declared on the oil-rich state by President Bola Tinubu in March 2025.
This embargo was only lift in September 2025 after the duration of the six-month emergency rule in the state.
A few days ago, members of the Rivers Assembly passed a vote of confidence on President Tinubu, backing him to remain in office till 2031, when he would have spent eight years in office if re-elected in 2027.
Announcing their defection today, the lawmakers pinned their decision on the crisis rocking the PDP at the national level.
It is not certain if their political godfather, Mr Nyesom Wike, who is the current Minister of the Federal Capital Territory (FCT), will join them in APC.
Mr Wike, who governed Rivers State from 2015 to 2023, has been accused of instigating the crisis in the opposition PDP. He was expelled from the party last month at a national convention held in Ibadan, Oyo State.
General
Nigeria Risks Brain Drain in Energy Sector—PENGASSAN
By Adedapo Adesanya
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has warned that Nigeria risks massive brain drain in the oil and gas sector due to poor remuneration.
The president of PENGASSAN, Mr Festus Osifo, said at the end of the National Executive Council (NEC) meeting of the union on Thursday in Abuja that the industry was facing challenges arising from Naira devaluation and inflation, noting that, oil and gas skills remained globally competitive.
Painting an example, he said, “A drilling engineer in Nigeria does the same job as one in the US or Abu Dhabi,” noting that the union must take steps to bridge the wage gap to prevent members from leaving the country for better opportunities abroad.
“If we don’t act, the brain drain seen in other sectors will be child’s play,” he said.
According to him, PENGASSAN has recorded significant gains through collective bargaining across oil and gas branches.
“We signed numerous agreements across government agencies, IOCs, service and marketing sectors,” he said.
He said the agreements brought relief to members facing rising costs of living, adding that, the association’s duty is to protect members’ jobs and enhance their pay.
Mr Osifo urged companies delaying salary reviews and those foot-dragging as a result of the prevailing economic realities, to do the needful.
He said the industry employed some of the nation’s best talents, making competitive pay critical to retaining skilled workers.
“This industry recruits the best. Companies must provide the best conditions,” he said.
On insecurity, Mr Osifo urged government to take decisive action against terrorism and kidnappings across the country.
“We are tired of condemnations. government must expose sponsors and protect citizens,” he said.
He urged government at all levels to prioritise tackling insecurity through better funding and equipment for security agencies.
Mr Osifo said PENGASSAN supported calls for state police to improve local security response, adding that decentralising policing will protect citizens better than rhetoric.
He also said economic indicators meant little, if food prices remained high and farmers could not return to farms due to insecurity.
“Nigerians want to see food on the table, not macroeconomic figures,” he said, urging the government to coordinate fiscal and monetary policies to ensure economic gains reach households.
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