General
Border Closure: Nigeria’s Fuel Consumption Drops 30%
By Dipo Olowookere
The federal government has listed some of the gains achieved so far with the closure of the nation’s land borders in four geo-political zones of the country.
Minister of Information and Culture, Mr Lai Mohammed, during a visit to the Seme Border in Lagos, said few of the gains include higher import revenue, lower domestic fuel consumption and increased rice production by local farmers.
He was accompanied to the town bordering Nigeria with Benin Republic by Minister of Foreign Affairs, Mr Geoffrey Onyeama; Minister of Interior, Mr Rauf Aregbesola; Minister of State for Finance, Budget and National Planning, Mr Clement Agba; National Security Adviser, Mr Babagana Monguno; and the Comptroller General of the Nigerian Immigration Service (NIS), Mr Muhammed Babandede.
Since the closure, the monthly import revenue has increased by 15 percent, instead of dropping as expected in many quarters, while the local consumption of fuel has dropped by 30 percent, apparently due to reduced smuggling of the products to neighbouring countries, Mr Mohammed said.
The Minister also said the closure has so far curbed the smuggling of foreign rice into the country, in addition to other prohibited items.
“’There has been an enhanced production and milling of Nigerian rice. Patronage of Nigerian rice has also increased and farmers are expanding their farms as well as engaging more hands,” he said.
The Minister put the value of items seized since the closure at over N3.5 billion, listing such items as including 38,743 of 50kg bags of parboiled foreign rice, 514 vehicles; 1,012 drums filled with PMS, 5,400 Jerrycans of vegetable oil; 346 motorcycles, 10,553 Jerrycans of PMS; and 136 bags of NPK fertilizer used for making explosives.
He also said 296 illegal immigrants have been arrested.
“It is important to note that 95 percent of illicit drugs and weapons that are being used for acts of terrorism and kidnapping in Nigeria today come in through our porous borders.
“However, since this partial closure, these acts have been drastically reduced. Our conclusion is that the arms and ammunition these terrorists and criminal elements were using no longer gain access into the country. In addition, the importation of the drugs which affect the well-being of Nigerians have equally been reduced,” Mr Mohammed said
He said Benin and Niger were not yet doing enough to ameliorate the challenges that led to the border closure, adding that the magnitude of seizures and the number of illegal immigrants recorded in the last two weeks alone confirm this assertion.
“As we speak, we have ships loaded with rice waiting to discharge (in Benin) and the target market is Nigeria (for Christmas). We have (MV Africana Jacana with 40,000 metric tons of rice, MV Zilos with 20,000 mts and MV Sam Jarguar with 45,000 MTS and others,” the Minister said.
He said the border closure would not have occurred if Nigeria’s neighbours had complied with the various MOUs as well as the ECOWAS transit protocols, including the ECOWAS Trade Liberalization Scheme (ETLS).
“Discussions on doing legitimate trade between Nigeria on one hand and Benin and Niger on the other, started in 2005. The discussions have led to MOUs in 2005, 2014, 2015, 2016, 2017 and 2018, all designed to facilitating free movement of goods manufactured in their respective countries and work out the modalities through the Ministers of Trade of both countries for the realization of this objectives.
“It worth noting that there has never been legitimate transit trade between Nigeria and the two countries (Benin and Niger). For clarity, the ECOWAS protocol on transit demands that when a transit container berths at a seaport, the receiving country is mandated to escort same without tampering with the seal to the border of the destination country. Unfortunately, experience has shown that our neighbours do not comply with this protocol.
“Rather, they break the seals of containers at their ports and trans-load goods destined for Nigeria from the original container to trucks. In most cases five containers loaded onto one truck and duty paid as one truck. This improper trans-loading of transit goods makes it impossible to properly examine such goods, resulting in importation of illicit goods, including arms and ammunition, without being detected. Because goods are not examined, mis-classification and resultant loss of revenue become the ultimate consequence of this illegitimate transit trade,” the Minister said.
He said Exercise Swift Response, the joint border security exercise which was launched 20 Aug. 2019, has provided a unique platform for the various participating agencies to jointly operate, thereby strengthening inter-agency collaboration and reducing animosity.
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.”
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has launched a mobile application designed to monitor fuel consumption patterns in real time across retail outlets nationwide.
The NMDPRA, established under the Petroleum Industry Act (PIA) 2021, is responsible for the technical and commercial regulation of Nigeria’s midstream and downstream petroleum operations. The deployment of the mobile application aligns with the authority’s broader efforts to leverage technology to improve regulatory compliance and strengthen accountability.
The pilot phase of the project began on August 1 in Abuja and its six Area Councils, the authority said in a statement published on X.
As part of the rollout, the Executive Director for Distribution Systems, Storage and Retailing Infrastructure (DSSRI), Mr Ogbugo Ukoha, led a team alongside officials from the Abuja Regional Office to assess the readiness and operational performance of the digital platform at participating retail outlets.
According to the NMDPRA, the application captures inventory and compliance data in real time, enabling regulators to monitor fuel distribution more effectively while improving operational efficiency across the sector.
The authority said the platform would generate reliable, data-driven insights to support evidence-based decision-making, strengthen national energy security planning and enhance transparency in the downstream petroleum industry.
It added that the initiative is expected to provide significant value to government, investors, operators and other stakeholders by improving access to accurate fuel consumption and compliance data.
Nigeria’s downstream petroleum sector has undergone significant changes since the deregulation of the petrol market and the removal of fuel subsidies, with regulators placing greater emphasis on data-driven supervision to ensure product availability, prevent supply disruptions and discourage sharp regional disparities in distribution.
By Modupe Gbadeyanka
No doubt, moving money among African markets remains a slow, fragmented process that relies on multiple intermediaries and prolonged settlement cycles.
To solve this issue and drive the development of stablecoin-enabled payment services for businesses across the continent, Onafriq has joined forces with a leading stablecoin infrastructure provider, Privy.
The collaboration will enable Onafriq to create and manage embedded digital asset solutions for its partners and, in time, institutional clients where regulation allows. The initial phase focuses on cross-chain stablecoin transfers and treasury and settlement workflows, creating the foundation for future cross-border payment and liquidity solutions.
Integrating Privy’s secure infrastructure enables Onafriq to build the capabilities required to support a new generation of efficient digital payment services for banks, fintechs, and mobile money operators.
This partnership is a key component of Onafriq’s broader strategy to modernise pan-African payment infrastructure, enabling secure multi-modal wallets and more efficient movement of value across the continent.
The outcome will support a range of future institutional use cases, including stablecoin-enabled settlement, treasury management and liquidity services, as it reflects Onafriq’s commitment to driving Africa’s digital transformation agenda by investing in technologies that make financial services more efficient, connected and accessible.
It was gathered that Onafriq selected Privy for its enterprise-grade infrastructure to enable the seamless integration of digital asset wallet capabilities into its products, subject to regulatory approval, and deliver a simple user experience while abstracting the complexity of blockchain technology.
“At Onafriq, we keep investing in technology that makes payments faster and more accessible. Privy gives us a building block for faster settlement and better liquidity management. As demand for digital asset services grows, our goal is to ensure Africa’s payment ecosystem benefits securely and in line with regulatory frameworks,” the Group Chief Product and Innovation Officer at Onafriq,” Mr Luke Kyohere, said.
The chief executive of Privy, Mr Henri Stern, said, “Stablecoins will play an increasingly important role in the future of global payments, but real-world adoption depends on infrastructure that is secure, scalable and simple to implement. Working with Onafriq allows us to help build that foundation across Africa and beyond.”
