General
Dangote Donates 60,000 Bags of Rice in Katsina, Kwara
By Modupe Gbadeyanka
No fewer than 60,000 bags of rice have been donated to poor and vulnerable people in Katsina and Kwara States by the Aliko Dangote Foundation.
This gesture is coming two weeks after the organisation kicked off the distribution of one million bags of rice worth N16 billion across the 774 local government areas in Nigeria to support the needy.
In Kastina State, the foundation shared 35,000 bags of rice on Tuesday among beneficiaries chosen across the 361 wards of the 34 Local Government Areas (LGA) of the state.
A representative of the Aliko Dangote Foundation, Mr Mustapha Umar, at a ceremony to flagg-off the distribution at the Muhammad Dikko Stadium, said the gesture was part of the group’s humanitarian effort to cushion the economic hardship being faced by vulnerable persons.
“This year’s gesture is targeting over one million vulnerable Nigerians, aimed at reducing their hardship due to the economic situation in the country.
“The foundation was in various parts of the country to offer similar support to assist people, especially Muslims to observe the Ramadan fasting with relative ease,” Mr Umar stated, noting that 94 persons will benefit from the donation from each of the political ward in the state.
Speaking on behalf of the state government, the Hisbah Board Commander, Dr Aminu Usman, said the support would go a long way in reducing the challenges of the poor.
He commended the organisation for the initiative, saying that such will complement the effort made by the state government through providing free Ramadan feeding among other things, calling on other wealthy individuals to imbibe the culture of assisting the less privileged, especially in the holy month of Ramadan.
Also, in Kwara State, the foundation extended its Food Intervention Programme the 16 local government areas of the state.
The team, led by the Group General Manager Human Resources for Dangote Cement Plc, Mr Ahmed Gobir, said, “This is not just a gesture of charity; it is a demonstration of our commitment to set Nigerians and Africans up for success, it is a testament to further foster the Aliko Dangote Foundation’s four-pillar goal in nutrition, health, education and empowerment.
“By providing these bags of rice, we aim to alleviate the immediate hunger and hardship experienced by many and contribute to the broader goal of food security in Kwara State and Nigeria at large.
“As we move forward, the Aliko Dangote Foundation remains committed to identifying and addressing the pressing needs of our communities. We will continue to work tirelessly to support vulnerable populations, create opportunities for growth and development, and build a brighter future for all Nigerians.”
The Governor of Kwara State, Mr Abdulrazaq Abdulrahman, represented by his deputy, Mr Kayode Alabi, praised the foundation for alleviating the suffering of the vulnerable, saying it is a great inspiration and one that is worth emulation.
“The rice, which will be distributed to indigent families across the state, comes at a crucial time, as our Muslim brothers and sisters observe the sacred month of Ramadan and our Christian brothers and sisters are in the season of Lent. It is an act of compassion that will provide much-needed relief to those who are fasting and in need.
“This gesture not only complements the ongoing efforts of the Kwara State Government to support vulnerable communities, but it also demonstrates the power of partnership between the public and private sectors in lifting our people out of hardship,” he said.
By Adedapo Adesanya
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged the federal government to review the fuel import licences recently issued to some marketers, saying the policy is driving up fuel prices, putting pressure on foreign exchange and creating instability in the downstream petroleum sector.
Speaking in Abuja, IPMAN’s National Publicity Secretary, Mr Chinedu Ukadike, said the current import regime has not achieved its goal of making fuel more affordable. Instead, he argued that it has encouraged the importation of more expensive petrol while increasing the country’s dependence on foreign exchange.
According to Mr Ukadike, some importers plan to sell Premium Motor Spirit (PMS), also known as petrol, for about N1,350 per litre, which is higher than the ex-depot price offered by the Dangote Petroleum Refinery.
The IPMAN official questioned the need to import fuel at higher prices when locally refined products are available at lower costs, noting that the situation has made it difficult for independent marketers to plan their businesses because import costs continue to fluctuate.
Mr Ukadike also raised concerns about the quality of some imported fuel and called on regulators to ensure that only products that meet Nigeria’s standards are allowed into the country.
The association warned that continued fuel imports also increase demand for the US Dollar since importers pay for products in foreign currency. This, the association said, puts additional pressure on the naira and contributes to higher fuel prices.
The association stressed that Nigeria should focus on supporting local refining to improve energy security and reduce reliance on imported petroleum products.
It noted that the Dangote Petroleum Refinery has helped maintain steady fuel supply despite global disruptions, including tensions in the Middle East.
According to IPMAN, greater use of locally refined fuel would reduce FX demand, strengthen the refining industry, create jobs and improve economic stability. It also said producing enough fuel for local consumption while exporting excess output would help Nigeria earn more foreign exchange.
The association called on the federal government, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian National Petroleum Company (NNPC) Limited and the Presidential Committee on downstream reforms to engage stakeholders and adopt policies that support domestic refining.
IPMAN said strengthening local refining remains the best long-term solution for affordable fuel, stable supply and improved energy security in Nigeria.
By Adedapo Adesanya
The National Insurance Commission (NAICOM) has reiterated that the July 31, 2026, deadline for insurance companies to meet the new minimum capital requirements remains firm, warning operators against treating it as a mere formality.
The Commissioner for Insurance of NAICOM, Mr Olusegun Ayo Omosehin, who gave this warning, urged companies that have yet to meet the new minimum capital requirements to act with urgency.
Speaking on Friday at the investiture of Mr Akinjide Oluwarotimi-Orimolade as the 53rd President and Chairman of Council of the Chartered Insurance Institute of Nigeria (CIIN) in Lagos, Mr Omosehin said the recapitalisation exercise remained a critical pillar of the Commission’s ongoing reforms aimed at building a stronger, more resilient and consumer-focused insurance industry.
According to him, the new minimum capital requirement is designed to improve insurers’ claims-paying capacity, strengthen their balance sheets, support higher domestic risk retention and prepare the industry for a risk-based capital regime.
“With about 14 days to the July 31 deadline, we commend operators that have made significant progress in raising capital, engaging investors, strengthening governance and submitting for the Commission’s verification process.
“However, the deadline is not symbolic; it is regulatory, and the industry must treat it with the urgency it deserves,” he said.
The Commissioner assured stakeholders that the insurance sector regulator would maintain a transparent, fair and firm process, stressing that every operator must demonstrate financial soundness, regulatory compliance and operational readiness.
He added that stronger capitalisation must ultimately translate into better service delivery, prompt settlement of claims, improved consumer protection and greater public confidence in insurance.
Mr Omosehin noted that the Nigerian Insurance Industry Reform Act (NIIRA) 2025 has provided a stronger legal framework for a more resilient, better-governed and responsive insurance market, adding that NAICOM’s reform agenda is focused on market conduct, policyholder protection, governance, insurance penetration, financial inclusion and responsible innovation.
He described professionalism as the foundation of a trusted insurance market, saying the industry’s growth depends not only on adequate capital and effective regulation but also on ethics, competence, innovation and public confidence.
“The strength of insurance depends not only on capital and regulation but also on professionalism, ethics, innovation and public confidence. A trusted insurance market cannot be built on capital alone. It requires competent professionals, ethical institutions, credible advice and fair treatment of policyholders,” he stated.
By Bon Peters
About 29,645 litres of premium motor spirit (PMS), otherwise known as petrol, as well as industrial palm oil, edible palm oil and vegetable oil with a Duty Paid Value (DPV) of N26 million have been auctioned by the Eastern Marine Command of the Nigeria Customs Service (NCS).
The products were seized by the agency from some smugglers and auctioned on Thursday, July 16, 2026, at the Oron Outstation of the Command in Akwa Ibom State, in strict compliance with Section 119 of the Nigeria Customs Service (NCS) Act 2023.
It was gathered that the command auctioned 14,720 litres of petrol and 14,925 litres of industrial palm oil, edible palm oil and vegetable oil, according to a statement issued over the weekend in Port Harcourt, Rivers State, by the command’s spokesman, Mr Joshua Iliya, a Deputy Superintendent of Customs.
It was disclosed that the exercise aligned with the service’s statutory mandate to transparently dispose of seized, forfeited, and abandoned goods after all due legal processes have been completed.
The petrol had a DPV of N11.4 million, 14,200 litres of industrial palm oil with a DPV of N14.1 million, 600 litres of edible palm oil with a DPV of N840,000, and 125 litres of vegetable oil with a DPV of N141,000.
Declaring the auction open, the Acting Comptroller of the Eastern Marine Command, Mr Esien Etim Esiet, stated that the items were intercepted during successful anti-smuggling operations within the command’s jurisdiction, adding that the seizures followed direct violations of the NCS Act and other extant laws governing restricted goods.
“This exercise reflects our unwavering commitment to transparency, accountability, and the prudent management of government assets,” he stated, reiterating that, “Beyond the lawful disposal of goods, this auction serves as a stark reminder that smuggling is an economic crime.”
“It undermines national development, threatens local industries, and deprives the government of critical revenue,” he averred, commending the resilience and professionalism of the command’s officers for securing Nigeria’s maritime borders despite operating in challenging terrains.
The customs officer assured bidders that the process was structured to be fair, open, and legally compliant while offering equal opportunity to all eligible participants.
