General
Closure of PH Refinery Petrol Producing Unit Worries Stakeholders
By Adedapo Adesanya
Stakeholders have expressed worries as the Port Harcourt Refining Company (PHRC) has commenced the shutdown of its Area 5 (60,000 barrels per day capacity old refinery plant) for routine turnaround maintenance.
Over the weekend, the Nigerian National Petroleum Company (NNPC) Limited said the move was aimed at boosting efficiency and operational performance.
In a statement signed by Mr Olufemi Soneye, Chief Corporate Communications Officer, NNPC Limited said the shutdown will allow for scheduled maintenance and a sustainability assessment of the facility.
“This scheduled maintenance and sustainability assessment will commence on May 24, 2025,” the company stated, adding that it is working with the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, to ensure transparency and efficiency,” it said.
The closure of the facility has sparked criticism from many quarters, with Business Post gathering that workers have been told in clear terms not to speak to external stakeholders, particularly the press.
In an internal memo titled Area 5 Plant Shutdown for Routine Turnaround Maintenance and signed by Mr Leo Njoku, Human Capital Management Lead, Operations and Maintenance, PHRC Project, the management said all operations and maintenance personnel were explicitly instructed to avoid interaction with visitors, particularly the press.
Mr Njoku in the memo also cautioned the workers against speaking to NNPC Limited top executives, government officials, and members of the press, expected on-site during the maintenance window.
“Mind your business. No interaction with external people or giving information to press people,” the memo warned.
The directive goes further to threaten disciplinary action for any employee caught speaking to the media.
“As Government workers, it is against the Labour Law to engage pressmen in interviews. It attracts its sanctions. HCM will be monitoring staff activities during this period. There will be severe disciplinary consequences for defaulters,” the memo reads.
The strong language and tone of the memo come amid heightened public scrutiny of NNPCL operations, especially as the 30-day shutdown has sparked concern among stakeholders, as the NNPCL just six months ago on November 26th 2024 had with pomp and pageantry announced the commencement of production after seven missed deadlines.
The Area 5 plant shutdown is part of PHRC’s ongoing efforts to fully restore refining capacity after years of dormancy and partial rehabilitation.
This development comes after the Host Community Petroleum Bulk Retailers accused the refinery coordinator, Mr Bayo Aderenle, of orchestrating a plot to cripple the plant in favor of private refinery interests.
Market analysts sat this development is raising questions around transparency over the operations of the refinery.
On its part, the Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, has warned that any delay beyond the scheduled 30-day maintenance period could trigger fuel supply disruptions and deepen economic hardship across the country.
In a statement signed by the National PRO, Mr Joseph Obele, PETROAN acknowledged that the maintenance was necessary but insisted that the state oil firm must stick to the one month timeline to avoid supply shocks and market instability.
Quoting its National President, Mr Billy Gillis-Harry, the association is particularly worried about systemic bottlenecks that have historically plagued turnaround maintenance efforts, which may once again derail the timeline.
“The repair process must include the Premium Motor Spirit blending unit, as the crude oil cracking process is of no value without it.”
To ensure transparency and accountability, PETROAN is demanding the creation of a special task force, comprising members of the Petroleum Industry Stakeholders Forum, to oversee the repairs and provide weekly progress updates to Nigerians.
Among other key demands by PETROAN include, “Timely completion of repairs before stock depletion, to prevent product scarcity and market monopolization.”
Others are, “Prompt payments to contractors to avoid project delays. Inclusion of critical infrastructure like the PMS blending unit to ensure full operational value upon restart.”
PETROAN cautioned that failure to deliver on schedule could worsen economic pressure on Nigerians already grappling with inflation, energy costs, and foreign exchange instability.
The group urged NNPC to not only meet expectations but also to prove that years of rehabilitation efforts will finally yield tangible results for the country’s ailing downstream sector.
By Adedapo Adesanya
The South African Consulate General in Lagos, in partnership with Brand South Africa and the Development Bank of Southern Africa (DBSA), is hosting the 4th edition of the South Africa Focus Week in Lagos, Nigeria, from April 22 – 26, 2026.
The annual platform continues to grow as a strategic initiative aimed at fostering social cohesion between South Africans and Nigerians while positioning South Africa as a preferred destination for business, tourism, and education. Since its inception in 2023, South Africa Focus Week has attracted over 1,500 participants, bringing together stakeholders from across sectors, including trade and investment, arts and culture, tourism, aviation, and the culinary industry.
The 2026 edition holds particular significance as it coincides with the 30th anniversary of South Africa’s democratic Constitution, enacted in 1996, as well as 32 years of unbroken diplomatic relations between South Africa and Nigeria, established in February 1994. These milestones underscore the enduring partnership between the two nations, rooted in shared history and strengthened through formal agreements and ongoing collaboration.
The 2025 economic relationship between South Africa and Nigeria reflects a strategically significant, multi-dimensional partnership anchored in trade, energy security, investment flows, and strong institutional cooperation. While bilateral trade remains structurally imbalanced – with South Africa exporting US$468.48 million and importing $1.69 billion, resulting in a $1.22 billion deficit – this dynamic is largely driven by South Africa’s reliance on Nigerian crude oil, positioning the relationship as one of strategic interdependence rather than imbalance alone.
This partnership is further elevated by the relative economic weight of both countries. According to IMF projections, South Africa’s economy is valued at approximately $443.6 billion, while Nigeria’s stands at around $334.3 billion in nominal terms for 2026. As two of the largest economies on the continent, their bilateral engagement constitutes a central axis of African economic activity, with disproportionate influence on the success of continental integration efforts.
Beyond trade, the relationship is reinforced by deep two-way investment linkages. South African firms -including MTN Group, Shoprite, and Standard Bank – maintain a strong presence in Nigeria, while Nigerian companies such as Access Bank and Paystack have established a growing footprint in South Africa. Although investment flows are asymmetrical and some Nigerian firms have faced operational challenges, these exchanges reflect an emerging bi-directional economic corridor that extends beyond goods trade into services, finance, and digital innovation.
Aligned with Brand South Africa’s mandate to build the country’s global reputation and competitiveness, the week-long programme will convene leaders from government, business, civil society, academia, and the media. Discussions will focus on leveraging the African Continental Free Trade Area (AfCFTA) as a tool for market access and global positioning, with Nigeria serving as a key focal point.
The South Africa Focus Week has features a series of high-level engagements and cultural activities designed to deepen economic ties and promote collaboration: South Africa–Nigeria Infrastructure Investment Conference (April 22, 2026) which was held under the theme South Africa–Nigeria Partnership: Unlocking Infrastructure Opportunities,” the conference will bring together key stakeholders in infrastructure development to explore collaborative projects in road, rail, and transportation systems.
The forum also examined the role of Public–Private Partnerships (PPPs) and facilitated discussions on project financing and implementation with institutions such as the DBSA and Nigeria’s Infrastructure Concession Regulatory Commission (ICRC).
This was followed by the 2nd Economic Diplomacy Roundtable (Thursday, April 23, 2026), which was hosted in partnership with MTN Nigeria under the theme Role of Technology in Infrastructure Development, the roundtable will convene senior government officials, private sector leaders, and industry experts to identify investment opportunities and strengthen strategic partnerships.
Friday, April 24, was for Arts and Culture Experience, which is a dedicated cultural day will showcase Lagos’ creative spaces and features a panel discussion on South Africa’s arts, film, music, and culture. The programme includes a South African film screening, engagements with filmmakers, and a networking reception aimed at fostering collaboration between the creative industries of both countries.
The event continues on Thursday, April 25, with Freedom Day Celebration and Closing Ceremony. This commemorative event will celebrate 30 years of South Africa’s Constitution, 32 years of freedom and democracy, and the enduring diplomatic relations between South Africa and Nigeria. The ceremony will also provide an opportunity to reflect on outcomes from the week and outline future areas of cooperation.
The celebration forms part of Brand South Africa’s Global South Africans Programme, which recognises and connects South Africans in the diaspora as ambassadors of the nation’s values and identity.
The week climaxes with the 4th edition of the South Africa Golf Tournament at Ikoyi Golf Club on Saturday, April 26, 2026, which will be done in partnership with Crossflex International.
According to a statement, the event aims to strengthen people-to-people relations through sports diplomacy, bringing together South African and Nigerian golfers in a spirit of camaraderie and collaboration.
By Modupe Gbadeyanka
The former chairman of the defunct Skye Bank Plc, Mr Tunde Ayeni, has been apprehended by the Economic and Financial Crimes Commission (EFCC).
Spokesperson of the anti-money laundering agency, Mr Dele Oyewale, confirmed the arrest of the businessman on Friday but declined to provide further details, according to TheCable.
Mr Ayeni was accused of diverting the N36.5 billion and $30 million loans from Polaris Bank Limited to companies with which he has links.
He was alleged to have obtained the credit facilities for marine security, electricity distribution, and real estate projects, but moved them to telecom investments tied to NITEL/MTEL assets via a NATCOM account.
After the Central Bank of Nigeria (CBN) revoked the operating licence of Skye Bank in 2018, it nationalised it to Polaris Bank.
The EFCC has been looking into the alleged diversion of funds by Mr Ayeni, resulting in his arrest in Abuja on Thursday, April 23, 2026.
He is being grilled over the matter and would be arraigned in court once the investigation is concluded.
This is not the first time Mr Ayeni has been nabbed and probed by the EFCC, as this happened a few months after his bank lost its licence.
The then acting spokesman for the EFCC, Mr Tony Orilade, said Mr Ayeni was quizzed by detectives over issues related to fraud and embezzlement allegedly committed by him when he was Chairman of the bank a few years ago.
By Adedapo Adesanya
“We are fully committed to working with the new Commissioner of Police and giving all necessary support towards the successful discharge of his responsibilities.”
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