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.
By Aduragbemi Omiyale
For the second consecutive month, Dangote Petroleum Refinery and Petrochemicals has become the largest supplier of jet fuel to Europe, outpacing the United States of America (USA).
Data from Kpler showed that in July 2026, the Lagos-based oil facility, which has the capacity to refine 700,000 barrels of crude oil per day, produced more than 400,000 tonnes of jet fuel.
In June 2026, the private refinery, owned by Mr Aliko Dangote, exported 466,000 tonnes to Europe, underscoring its growing influence on international fuel markets and highlighting Nigeria’s emergence as a strategic player in global refined petroleum trade.
The latest data indicated that Dangote Refinery accounts for approximately 20 per cent of Europe’s total jet fuel imports last month.
The sustained export performance marks a significant milestone for the refinery, demonstrating its ability to consistently supply one of the world’s most demanding fuel markets with aviation fuel that meets stringent international quality specifications. Europe imported approximately 2.06 million tonnes of jet fuel in July, with Dangote accounting for the single largest share of those imports, ahead of traditional suppliers from the United States and the Middle East.
Industry observers say the refinery is rapidly reshaping established Atlantic Basin fuel trade flows by offering a competitive alternative to long-standing suppliers. While European buyers have traditionally relied on refiners in the United States, the Middle East and Asia, Dangote’s strategic location on Nigeria’s Atlantic coast, combined with its scale, modern technology and export capability, has enabled it to become an increasingly important source of aviation fuel for European markets.
By Modupe Gbadeyanka
President Bola Tinubu on Thursday directed the Economic and Financial Crimes Commission (EFCC) to vacate the court ordering the freezing of the bank account of the Osun Srate government.
In a statement today by his Special Adviser on Information and Strategy, Mr Bayo Onanuga, the President said he’s “deeply embarrassed not by the EFCC’s exercise of its mandate backed by a court order” because of its timing, which is just a few days to the governorship election in the state next Saturday.
According to him, actions of an institution of State, especially at the Federal level, is always credited to me, as the President, even when I may not have had any prior knowledge of the action.
“Since assuming office, I have consistently maintained that anti-corruption and law enforcement agencies must be allowed to discharge their statutory responsibilities independently, professionally, without fear or favour, or political interference. I have therefore deliberately refrained from directing or interfering in the operational activities of the EFCC or any other investigative or prosecutorial agency because I firmly believe that strong democratic institutions, operating within the confines of the law, are indispensable to democratic good governance and the rule of law.
“As President, I am committed to allowing institutions of State to function and take any action they consider necessary in the interest of proper governance without the need for any prior approval. Indeed, that is why institutions are set up by law with clearly defined powers. While I am yet to be fully apprised of the facts which informed the action of EFCC in approaching the court to obtain the said order freezing the Osun State Government account, I am not in the slightest doubt that the timing of the action of EFCC is inauspicious, and therefore I feel compelled to intervene.
“Osun State is only a few days away from its gubernatorial election. Therefore, nothing ought to be done to give an impression that the EFCC or indeed any other agency of the federal government is being used to interfere with the election.
“Based on the foregoing premise, I am duty-bound to issue a directive on this issue in consonance with the overriding public interest in preserving public confidence and the integrity, credibility, and fairness of our democratic process.
“Accordingly, I have directed the EFCC to immediately proceed to the court to vacate the order and discontinue whatever action it has instituted against the Osun State Government in this regard,” the statement stated.
By Modupe Gbadeyanka
The Economic and Financial Crimes Commission (EFCC) has explained why it initiated a move to freeze the bank account of the Osun State government.
Earlier on Wednesday, the Governor of Osun State, Mr Ademola Adeleke, claimed that the anti-money laundering agency asked one of its bankers, First Bank, not to release funds to the state government.
According to the Governor, this was part of the strategies to frustrate his administration ahead of the August 15, 2026, governorship election in the state.
Reacting to the issue on Wednesday night, the EFCC, in a statement, said it has been investigating the state government since March 2026 over an alleged “fraudulent handling of Ecology Funds, Intervention Funds and Federal Account Allocation Committee (FAAC) account to the tune of N11.0 billion.
The organisation noted that some officials of the state government, especially the Accountant General of the State, have had interview sessions with investigators of the EFCC.
“These ongoing investigations of the state government would not have warranted any placement of Post No Debit order on its account but for the precipitate and unwarranted movement of funds from the accounts to different suspicious accounts since August 2, 2026.
“The commission noticed huge transfers of funds into different corporate entities and had to swiftly halt the trend by freezing the accounts from which such heavy funds are being moved,” parts of the statement said.
In the disclosure, the agency noted that its preventive mandate is a public-inclined framework of safeguarding public funds, assets and resources, stressing that it cannot “watch idly while a state government’s account is being pillaged.”
“While the commission is fully aware of the impending governorship election in Osun State, it has a responsibility to act in defence of the sanctity of the funds of the state. It will be uncharitable for the commission to allow an excuse of an upcoming election to fold its arms to perform its legally-assigned functions,” it pointed out.
The EFCC disclosed that it is “keeping watch over the finances of other states like Osun State. Many of these states are on the investigative radar of the commission to ensure accountability and probity. The commission has always pointed out that it is non-partisan and non-sectarian but always working in the overall interests of Nigerians. The Osun State government account was frozen to save public funds from being looted.”
The organisation urged the public “to ignore false narratives and deliberate demonisation of the works of the EFCC. The interests of all Nigerians are greater and will always be protected by the commission.”
