General
Court to Decide N5.74bn NLNG Contract Breach Case July 16
By Adedapo Adesanya
A High Court in Port Harcourt, Rivers State, has set July 16, 2025, to decide a case in which the Nigeria LNG (NLNG) was accused of breaching a contract it awarded to a local contractor, Macobarb International Limited.
Justice Chinwendu Nwogu, which is handling the matter with the suit number PHC/2013/CS/2022, will also decide and rule if the breach led to costs as high as N5.74 billion, which the claimants are seeking.
The fixing of the date of judgment came on Tuesday, June 24, 2025, after counsels for both parties adopted and adumbrated their final written addresses, each seeking to convince the judge to rule in their client’s favour.
Macobarb had sued NLNG, claiming it breached the terms of contract and that this breach led to various costs amounting to N5.74 billion, saying the contract was deemed to still be running and that cost is rising.
Adopting their address, the lead counsel to Macobarb, Mr Benefit Vilokpo, said, “Claimants have shown by their pleadings and documentary evidence that NLNG breached its terms of contract, and that Macobarb has demonstrated that the purported letter of termination dated 27th November, 2015, is unlawful, null, and void.”
He also said contract agreement made several provisions for ‘Standby Payments’ and that claimants have also shown that they are entitled to Standby Payments.
The claimants’ lead counsel submitted in his adopted final address what he considered issues for determination, adding that the built their claim on the ground that the person that terminated the contract (Mr Emeka Ohiri) was not known to the contract.
It was claimed that the Contract Holder is a Mr Dweller Francis, clarifying that the said Mr Francis never served Macobarb any termination letter.
The claimant counsel also said and pointed to the sections in their final address that the contract provided for standdown time.
The claimants final address noted that to demonstrate that the contract is still in existence, the defendant called for a meeting on the February 19, 2016 termed “Project close-out meeting”.
The contract close-out meeting with signatures of all the attendees showed where it was stated that to close out the contract, NLNG will have to establish what the costs for the materials delivered to NLNG were, as well as the cost for demobilising and to prepare the payment certificates for all items of the contract executed by the contractor.
Macobarb asked the court to view it that the contract is yet to be closed out and to also note that the defendant (NLNG) admitted receipt of materials including 20ft container from the claimants.
On its part, the NLNG lead counsel, Mr Bayo Aderelegbe, asked the court to determine whether the second claimant was a party to the contract and can sue in respect of the contract.
But Macobarb countered this, arguing that this contention by the NLNG had earlier been dismissed by the same court and judge when it was raised during preliminary objection and that in fact, the judge had awarded a fine of N200,000 against the NLNG.
The NLNG counsel also wants the court to determine whether his client breached the contract as alleged by the claimants; whether the defendant wrongfully terminated the contract; and whether the claimants were entitled to the N5.74 billion.
Another crucial matter both parties addressed is the issue of ‘Performance Bond’ mentioned in the contract. The NLNG submitted that the claimant (contractor) failed to submit it within 14 days and that this was the basis for termination of the contract.
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.”
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
Pingback: Court Dismisses N5.74bn Breach of Contract Suit Against NLNG | Business Post Nigeria