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We Didn’t Recommend Ceding Disputed Oil Wells to States—RMAFC

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RMAFC

By Adedapo Adesanya

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has denied reports that some disputed crude oil and gas wells have been recommended for ceding to specific oil-producing states.

In a statement issued on Sunday, the chairman of the commission, Mr Mohammed Shehu, said the attention of RMAFC had been drawn to a “purported report allegedly issued by the Inter-Agency Committee on the Verification of Coordinates of Disputed Crude Oil and Gas Wells between States,” which was circulating in sections of the national media (excluding Business Post).

The agency described the report as “misleading, premature, and does not represent the position or conclusions of the Commission.”

“At this stage, there is no finalised recommendation or decision regarding the ceding or reallocation of any oil wells, as due institutional processes are still ongoing,” the statement read.

The organisation explained that it operates a clearly defined and transparent procedure in handling assignments of national significance, stressing that the process on the disputed oil wells had not been concluded.

It disclosed that it only received a draft report from the Federal Government’s Inter-Agency Committee on Nigeria’s Oil-Producing States on Friday, February 13, 2026, which reportedly projected Cross River State as an oil-producing state.

The report, covering the nationwide 2017–2025 verification of crude oil and gas coordinates, was presented to the Chairman of RMAFC by 10 of the 14 members of the committee.

The exercise, which ran from August 2025 to February 2026, involved extensive field verification, technical reconciliation of state submissions, and a final plenary plotting of coordinates at RMAFC headquarters between January 24 and 31, 2026.

“Consistent with established protocol, the draft document has been transmitted to relevant technical and statutory stakeholders, namely the Nigerian Upstream Petroleum Regulatory Commission, the National Boundary Commission, and the Office of the Surveyor General of the Federation, for detailed review, observations, and technical input,” the commission stated.

According to the statement, after the observations and recommendations of the agencies are received, the matter will be subjected to further scrutiny by the commission’s internal tripartite committees, comprising the Committee on Crude Oil, Gas and Investment and the Legal Matters Committee.

“These committees will undertake comprehensive technical and legal reviews before presenting their findings to the Plenary Session of RMAFC for deliberation and final recommendations,” it added.

The commission further explained that upon completion of the institutional processes, its final report would be formally transmitted to the President and the Attorney-General of the Federation for necessary consideration and further action in line with applicable laws and constitutional provisions.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Court Affirms FCCPC Authority to Investigate Consumer Complaints

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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.

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2025 Coup Scare: FG Files Charges Against Suspects

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october 2025 coup scare

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.

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Olam Agri Launches $50m Agro-Processing Facility in Kwara

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Olam Agri food commodities

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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