General
28 States Receive $68.36m from World Bank
By Adedapo Adesanya
The federal government has announced that 28 states have received $68.36 million in disbursements under the World Bank-assisted SABER programme.
The federal government announced on Tuesday that 33 states and the Federal Capital Territory (FCT) had signed the Subsidiary Loan Agreement (SLA) under the programme, with 28 states so far receiving disbursements totalling $68.36 million.
The SABER programme seeks to enhance private investment in fibre optic deployment, strengthening regulatory frameworks to support this growth.
This comes months after the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, in November 2023 announced SABER as the successor programme of the States Fiscal Transparency and Accountability and Sustainability (SFTAS).
SFTAS was another World Bank-assisted $1.5 billion programme which was designed to nudge the sub-nationals into inculcating the virtues of accountability and transparency in governance.
According to the Permanent Secretary, Federal Ministry of Finance, Mrs. Lydia Shehu Jafiya, 33 states and the Federal Capital Territory (FCT) signed the Subsidiary Loan Agreement (SLA) under the SABER programme.
A statement issued Tuesday night by the Director, Press and Public Relations, Ministry of Finance, Mr Mohammed Manga noted that 28 states had received between $1 million and $4 million in prior results disbursements, totalling $68.36 million.
“In its avowed determination to improve the business environment in the country, the Federal Government of Nigeria, in collaboration with the World Bank has declared the 2025 National Sensitization Workshop on the States Action on Business Enabling Reforms (SABER) Programme-for-Results open in Abuja – a $750 million initiative aimed at incentivizing state-level reforms to improve Nigeria’s business climate.
“The Permanent Secretary, Federal Ministry of Finance, Mrs Lydia Shehu Jafiya, while declaring the event open, emphasized the significance of the programme in fostering economic growth through business-friendly reforms.”
The statement quoted the Permanent Secretary as saying: “We are committed to creating an enabling environment that promotes business competitiveness and attractiveness.”
“The Permanent Secretary highlighted the progress made so far, with 33 states and the Federal Capital Territory (FCT) signing the Subsidiary Loan Agreement (SLA) under the SABER programme.
“Mrs Jafiya informed that 28 states have received between $1 million and $4 million in prior results disbursements, totalling $68.36 million.
“She acknowledged the challenges faced by states in implementing reforms but encouraged them to persevere,” the statement added.
It stressed that Mrs Jafiya assured that the government would continue to support states in their efforts to improve the business environment and attract investments.
The Permanent Secretary also emphasised the importance of transparency and accountability in the implementation of the SABER programme, saying, “we must ensure that the programme’s objectives are achieved in a transparent and accountable manner.”
By streamlining processes for land acquisition and ownership, the Permanent Secretary further disclosed that the programme aims to reduce bureaucratic hurdles and make it easier for businesses to operate.
The programme also prioritizes the strengthening of investment promotion agencies and public-private partnership units, recognizing the critical role these entities play in attracting investment and driving economic growth.
SABER slso aims to improve transparency and efficiency in government-to-business services, reducing the complexity and uncertainty that can often hinder business operations.
According to the statement, the programme builds on the successes of the States Fiscal Transparency, Accountability, and Sustainability (SFTAS) initiative, which promoted fiscal transparency and accountability at the sub-national level.
The SABER programme’s disbursements are contingent upon annual verification by an Independent Verification Agent (IVA), ensuring that states meet agreed reform milestones.
Programme Leader for Equitable Growth, Finance, and Institutions at the World Bank, Mrs Bertine Kamphuis, underscored the need for additional technical assistance, including in-person and smaller technical group meetings.
Also, National Programme Coordinator of the SABER Programme, Mr Ali Mohammed elaborated on the program’s financial structure, emphasizing that the $750 million budget encompasses not only Programme-for-Results (PforR) disbursements but also capacity building for state officials and implementation partners.
Under the now-ended SFTAS Programme introduced by former President Muhammadu Buhari administration,eligibility and clear-cut criteria were outlined for states to get disbursement from the Office of the Accountant General of the Federation (OAGF).
The criteria were open to civil society organisations and the media, who also assessed benefiting states based on their performance.
General
ANLCA Airport Chapter Scores Salamatu High on Stakeholder Engagement, Trade Facilitation
By Bon Peters
The Airport Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA) at Omagwa Rivers State has praised the Customs Area Controller for Customs Area 1 Command, Comptroller Salamatu Atuluku.
At the end-of-the-year party attended by stakeholders, including the leader of the association’s chapter, Mr Charles Onyema, said the customs officer has done well in stakeholder engagement and trade facilitation.
At the event held last Friday, he said his association has been enjoying a very cordial relationship with other organisation in the ecosystem.
“You can see what is happening today, everybody is working together and our operations here are seamless,” he noted.
He stated that apart from creating a very robust business environment for his members and other stakeholders to operate, he has taken a decision to build and commission a befitting ANLCA Secretariat which would be completed soon and be commissioned by the ANLCA national president, Mr Emenike Nwokeoji.
The ANLCA chapter chief said since “Comptroller Salamatu Atuluku assumed office at Customs Area 1, Port Harcourt Command, it has been a different ball game, facilitating trade and increasing Revenue generation.”
“I remember I told her she was a mother during her maiden visit to the airport.
“You know when you have a woman in charge of an affair, food will not lack, compassion will not lack and motherly love will not lack.
“She is very wonderful in stakeholder engagement, revenue generation and trade facilitation,” Mr Onyema enthused.
Projecting into the future, Mr. Onyema said the year 2026 would be better for his members, adding that he has advised them on financial discipline which he said would help them during the trying period.
General
FG Declares Holidays for Christmas, New Year Celebrations
By Adedapo Adesanya
The federal government has declared Thursday, December 25, and Friday, December 26, 2025, as public holidays to mark Christmas and Boxing Day respectively.
The government also declared Thursday, January 1, 2026, for the New Year celebration.
The declaration was contained in a statement issued on Monday by the Permanent Secretary of the Ministry of Interior, Mrs Magdalene Ajani, on behalf of the Minister of Interior, Mr Olubunmi Tunji-Ojo.
According to the statement, the Minister urged Nigerians to reflect on the values of love, peace, humility and sacrifice associated with the birth of Jesus Christ.
Mr Tunji-Ojo also called on citizens, irrespective of faith or ethnicity, to use the festive season to pray for peace, improved security and national progress.
He further advised Nigerians to remain law-abiding and security-conscious during the celebrations, while wishing them a Merry Christmas and a prosperous New Year.
Business Post reports that on these public holidays – the foreign exchange market, the Nigerian Exchange (NGX), as well as the NASD Over-the-Counter (OTC) Securities Exchange will not open to trade.
General
Dangote Refinery Warns Against Artificial Petrol Scarcity
By Modupe Gbadeyanka
Local crude oil refiner, Dangote Petroleum Refinery, has kicked against attempts to put consumers of premium motor spirit (PMS), otherwise known as petrol, under untold hardship in the country.
The company, which commenced nationwide sales of the product at a pump price of N739 per litre across all MRS Oil Nigeria Plc filling stations, appealed to Nigerians to report any of its marketers who sell above this price.
“Any attempt to create artificial scarcity or manipulate supply to frustrate recent price reductions is unpatriotic and unacceptable.
“We urge regulatory authorities to remain vigilant and take firm action against such practices, especially during this critical festive period,” the Lagos-based refinery said in a statement.
It noted that the significant price reduction was part of its mission to deliver affordable fuel to consumers and stabilize the downstream petroleum market.
With over 2,000 MRS stations nationwide, the new pricing is expected to be implemented across all outlets, ensuring that the benefits of this reduction reach consumers nationwide.
Dangote Refinery applauded marketers who have embraced the new pricing regime and urged others to follow suit in the interest of national economic recovery.
“We commend MRS and other marketers who have demonstrated patriotism by reflecting the reduced price at the pump. We call on others to join this effort as a show of support for Nigeria’s economic recovery,” the refinery stated.
Historically, the festive season has been associated with fuel scarcity and sharp price hikes. However, Dangote Refinery has delivered a decisive market intervention—crashing pump prices at a time when Nigerians typically brace for hardship. Backed by a guaranteed daily supply of 50 million litres, this initiative fundamentally alters the supply dynamics during the holiday period.
By refining locally at scale, the refinery is reducing Nigeria’s exposure to volatile global markets, conserving foreign exchange, stabilizing the Naira, and strengthening energy security. This sustained price cut and steady supply are providing relief to households, businesses, and transport operators nationwide.
Consumers were advised to resist purchasing fuel at inflated prices when cheaper, high-quality alternatives are readily available.
“We encourage Nigerians to avoid buying PMS at excessively high prices when they can access locally refined fuel at N739 per litre from over 2,000 MRS stations nationwide. Report any MRS station selling above N739 per litre by calling 0800 123 5264,” the refinery said.
“We also call on other petrol station operators to patronize our products so that the benefits of this price reduction can be passed on to Nigerians across all outlets, ensuring broad-based relief and a more stable downstream market,” it added, reaffirming its commitment to steady supply, price moderation, and energy security, emphasizing that its operations are anchored on long-term national interest rather than short-term market pressures.
“Our objective remains clear: to ensure consistent supply of high-quality petroleum products at affordable prices for Nigerians, while supporting economic stability and reducing dependence on imports,” the refinery concluded.
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