Economy
Delta APC Backs Uduaghan, Says PDP, Okowa Will Lose 2019 Poll
By Dipo Olowookere
The All Progressives Congress (APC) in Delta State has come in defence of the immediate past governor of the state, Dr Emmanuel Ewetan Uduaghan, over a statement ascribed to him that the “APC will wrest power from the PDP in 2019” which has come under attack by the ruling party in the state, Peoples Democratic Party (PDP).
In a statement signed by its Secretary, Comrade Okonji Chidi, on Tuesday, entitled “OKOWA AND PDP: EAT THE HUMBLE PIE AND BURY YOUR HEAD IN SHAME” and made available to our correspondent, the party berated the Okowa administration, saying that “every discerning mind in Delta State knows that the PDP government is a total sham”.
Read full statement below:
The All Progressives Congress, (APC) in Delta State read with pity the hogwash put together by the Delta State Chapter of the Peoples Democratic Party, dismissing the assertion by former governor of the state and revered chieftain of the APC, His Excellency, Dr. Emmanuel Eweta Uduaghan that the APC will wrest power from the PDP in 2019.
Every discerning mind in Delta State knows that the Okowa administration is a total sham, an administration that have failed in all sectors. The assertion is actually the reality on ground. The PDP which the governor claimed is “still strong and formidable” has been decimated long before now, right from 2015 when those who knew Okowa very well as an ethnic bigot and a very vindictive fellow decided to dump him. It was not the making of His Excellency, Emmanuel Uduaghan that respected chieftain like former Speaker, Rt. Hon (Barr) Victor Ochei who also know Okowa in and out dumped him and his shattered PDP.
The defection of Dr. Uduaghan to the APC which is currently shaking the political landscape and causing the PDP and Governor Okowa high fever is just the icing on the cake when they will eventually loss the 2019 governorship elections and many House of Assembly, House of Representatives and Senate seats to the All Progressives Congress, (APC).
Now that Deltans know that Okowa is a failure, will it not be better for him to eat his humble pie and start preparing his hand over note? Because if Okowa and his drowning party, PDP actually know what has befall them, they would not be jumping here and there thinking the former governor, Uduaghan is their problem. Okowa’s ouster has been in the drawing board since well-meaning and respected Deltans who were ready to work with him realized he was a deceitful fellow.
It is foolhardy for Dr. Ifeanyi Michael Osuoza State Publicity Secretary of PDP to say “when it comes to politics and elections in Delta State, Dr. Uduaghan should realise that he is less than a featherweight”. This are assertion of a party in self-pity. A former governor in capacity of Dr. Uduaghan, remains a heavyweight political figure in Delta politics in and out of government that’s why the PDP and Okowa would continue to break their head over the devastating blow and impending defeat awaiting them in 2019.
For their information, when the defection of Dr. Uduaghan who Governor Okowa de-marketed and tried to discredit became imminent, APC catch on it and started wooing him because we know the value-added advantage he will bring to our party and our avowed determination to send incumbent governor packing in 2019.
“Governor Okowa thinks he is “smart”, he thinks he can outsmart every Deltan that’s why he is always coming out with policies that are anti-people like his fraudulent “Contributory Health Insurance Scheme” which has been adjudged in the media as scam and fraud”.
There is a saying that; “he that the gods want to destroy, they first make mad”. Governor Okowa and PDP are behaving like mad dogs already in everything they are doing, including press releases they have been issuing over what Dr. Uduaghan did to them and we as a party, have the antidote that would silent them forever in Delta State.
Imagine, Osuozu giving away information that Deltans know are exactly what Governor Okowa represents. According to Osuosu, “Out of sheer arrogance and vaulting ambition, he estranged many PDP members with his bad leadership style and worked hard to frustrate and impoverish many of them” which he dashed out while trying to denigrate Dr. Uduaghan but every discerning Deltan is aware that the aforementioned were the exact style of leadership laced with fraud that Okowa has given to Deltans since his assumption of office.
Okowa that we know is an arrogant person, he is treacherous, hot tempered, vindictive, pretentious and a bigot in the highest order. But we want to also thank God and commend all those who saw all this ahead of us in faraway 2014 and decided to dump the PDP and leave Okowa to continue his clannish tendencies that would finally exile him in 2019″.
As MSMEs across the South-East seek opportunities for growth, market expansion and cross-border trade, Stanbic IBTC, in partnership with the Anambra State Government, convened the Nigeria Business Summit Regional Tour in Onitsha to equip businesses with practical solutions for sustainable growth.
The summit, organised in collaboration with the Anambra State Ministry of Commerce, Industry and Trade, brought together government officials, business leaders, trade associations, development partners and entrepreneurs to explore practical pathways for economic growth, business sustainability and increased participation in local and international trade.
Speaking at the event, which took place on Wednesday, 29 July 2026, Honourable Nonso Chukwuma Ebonwu, Commissioner for Commerce and Industry, Anambra State, highlighted the importance of stronger partnerships between government, financial institutions and the private sector in creating an environment where businesses can thrive and contribute meaningfully to economic growth.
“Sustainable economic development requires strong partnerships between the public and private sectors. Financial institutions such as Stanbic IBTC have an important role to play by providing not only access to finance but also business advisory services, capacity building and the knowledge that enables businesses to grow sustainably,” he said.
Given Onitsha’s strategic position as a commercial hub, discussions centred on access to finance, enterprise development, business sustainability and opportunities for expansion into new markets. Stanbic IBTC’s Trade Team also provided practical insights into trade and export opportunities available to businesses operating within the South-East’s manufacturing and distribution value chains, highlighting strategies that can help enterprises improve competitiveness and unlock new growth opportunities.
Commenting on Stanbic IBTC’s commitment to supporting Nigerian businesses, Chuma Nwokocha, Chief Executive, Stanbic IBTC Holdings, said:
“We recognise the critical role businesses play in driving economic growth, creating jobs and fostering innovation. Supporting their growth remains central to our purpose of driving Africa’s growth, and we will continue to provide the solutions, partnerships and platforms they need to thrive.”
Also commenting on Stanbic IBTC’s support for Nigerian businesses, Remy Osuagwu, Executive Director, Business and Commercial Banking, Stanbic IBTC Bank, said:
“Our commitment to supporting businesses is unrelenting. Through strategic partnerships and platforms such as the Nigeria Business Summit Regional Tour, we are connecting entrepreneurs to the knowledge, networks and financial solutions needed to scale their businesses and compete more effectively in today’s evolving marketplace.”
The summit also highlighted Stanbic IBTC’s focus on providing businesses with access to the capital, insights and connections needed to achieve sustainable growth. This commitment aligns with the strategic direction of the bank’s Enterprise Banking business, led by Olajumoke Bello, as Stanbic IBTC continues to deepen engagement with MSMEs and growth-focused businesses across Nigeria.
The Onitsha engagement builds on successful editions of the Nigeria Business Summit Regional Tour previously held in Katsina, Aba and Ibadan. Through the initiative, Stanbic IBTC continues to work with public and private sector stakeholders to equip entrepreneurs with practical insights, strategic partnerships and business solutions that support sustainable growth.
By Aduragbemi Omiyale
The board of Presco Plc has proposed the payment of an interim dividend of N10 per share to shareholders of the organisation for the first six months of this year.
This information was conveyed in the unaudited financial statements of the company released to the Nigerian Exchange (NGX) Limited.
In the results for the half-year ended June 30, 2026, the fully integrated agro-industrial firm said the cash reward reinforces its commitment to delivering consistent shareholder returns.
It further assured that looking ahead, it remains focused on disciplined capital allocation, operational efficiency and long-term value creation while navigating evolving market conditions.
A look at the key financial highlights of the results showed that revenue was relatively stable at about N199.0 billion in the first half of 2026 and the same period of 2025 amid a high-cost operating environment and softer crude palm oil prices.
However, the pre-tax profit rose by 9.3 per cent to N122.2 billion from N119.9 billion as result of a 31.9 per cent reduction in financing costs.
Further, the Edo State-based company posted an EBITDA of N123.1 billion, which yielded a margin of 61.9 per cent, as the organisation strengthened its balance sheet, reducing total liabilities by 42.5 per cent to N277.8 billion, while equity grew 13.8 per cent to N503.6 billion, with a current ratio of 345.6 per cent, which underscores robust liquidity.
“Our H1 2026 performance underscores the strength of our operational model in a challenging environment. The 9.3 per cent growth in profit before tax, driven largely by a 31.9 per cent reduction in financing costs, reflects our deliberate focus on cost optimisation and balance sheet discipline.
“With equity up 13.8 per cent and liabilities down by 42.5 per cent, we have further fortified our financial foundation.
“The proposed interim dividend of N10 per share signals our confidence in the business’s trajectory and our commitment to rewarding shareholders,” the chief executive of Presco, Mr Reji George, stated.
By Aduragbemi Omiyale
The ex-depot prices of the two major petroleum products in the country, Premium Motor Spirit (PMS), commonly known as petrol, and Automotive Gas Oil (Diesel), have been slashed by Dangote Petroleum Refinery.
The company, in a statement on Wednesday, disclosed that while petrol is now N1,165 per litre, diesel is now N1,570 per litre.
The energy firm said it slashed the prices to reaffirm its commitment to providing affordable, high-quality petroleum products to the Nigerian market.
The latest cut in the price of PMS represents N50, as it was previously sold to marketers at N1,215 per litre, while diesel witnessed an N80 reduction, as it was formerly being sold at N1,650 per litre.
Dangote Refinery stated that the downward price review reflects its ongoing efforts to enhance energy affordability, improve access to refined petroleum products, and support economic activities across Nigeria, saying it remains committed to ensuring stable supply while leveraging operational efficiencies to deliver value to consumers, businesses, and stakeholders.
As Africa’s largest refinery, Dangote Petroleum Refinery continues to play a pivotal role in strengthening Nigeria’s energy security, reducing reliance on imports, and supporting the nation’s economic development through the supply of world-class petroleum products.
The company reaffirmed its dedication to contributing to the growth of the Nigerian economy and passing on the benefits of improved operational efficiencies to consumers whenever market conditions permit.
