By Adedapo Adesanya

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has urged the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) to prioritise policies that promote domestic gas utilisation.

The association recommended that NUPRC strengthen measures to ensure price stability and long-term energy security for Nigerians, as indicated in a statement by its national public relations officer, Mr Joseph Obele.

The call comes alongside PETROAN’s commendation of the choice of Mr Magnus Abe as NUPRC Board chairman.

PETROAN national president, Dr Billy Gillis-Harry, cited Mr Abe’s prior roles as a National Assembly lawmaker, Secretary to the Rivers State Government, and former board member of the Nigerian National Petroleum Company (NNPC) Limited, meaning he has extensive knowledge of Nigeria’s oil and gas sector and its operational dynamics.

PETROAN also lauded NUPRC’s collaboration with the Nigeria LNG Limited (NLNG), which has committed 100 per cent of its LPG production to the domestic market.

Mr Gillis-Harry projected that this would reduce cooking gas prices and other gas-based products soon.

The association highlighted NUPRC’s efforts to remove regulatory bottlenecks, improve ease of doing business, and sustain stakeholder engagement to meet rising domestic gas demand and shield the market from global volatility.

PETROAN emphasises that a stable upstream sector will have far-reaching benefits across the petroleum value chain, including enhanced product availability, reduced energy costs, job creation, and overall economic growth, stating it would support policies and reforms in Nigeria’s petroleum industry.

Other PETROAN recommendations included sustaining regulatory reforms, accelerating gas infrastructure and distribution networks to ensure efficient delivery of gas to end-users nationwide; continuous and structured stakeholder engagement to promote transparency, policy consistency, and industry-wide collaboration; and maintaining structured stakeholder engagement.

It also urged collaborating with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to activate government-owned refineries, expressing confidence in Abe’s leadership and reiterated its support for policies fostering a competitive and transparent petroleum industry.

By Modupe Gbadeyanka

The former chairman of the defunct Skye Bank Plc, Mr Tunde Ayeni, has been remanded at the Kuje Correctional Centre pending the determination of his bail application.

He was moved to the facility after he was brought before Justice Jude Onwuzuruike of the Federal Capital Territory (FCT) High Court, Apo, Abuja, by the Economic and Financial Crimes Commission (EFCC) on Monday, May 4, 2026.

He will remain at the correctional centre until the hearing of his bail plea on Wednesday, May 13, 2026, the judge declared.

The former banker is facing trial on a 17-count charge bordering on criminal breach of trust, misappropriation and conversion of investors’ funds worth N15.67 billion.

Prosecution counsel, Mr E.E. Iheanacho (SAN), informed the court that the matter was slated for arraignment and prosecution was ready for trial.

“We have before the court a 17-count charge dated April 28, 2026. We humbly apply that the charge be read to the defendant,” he said.

“That you, Tunde Ayeni, whilst being the Chairman, Board of Directors of the defunct Skye Bank Plc between October 21, 2014, and November 19, 2014, at Abuja within the jurisdiction of this court and having dominion over depositors funds domiciled in the defunct Skye bank Plc’s Suspense Account, committed criminal breach of trust when you dishonestly misappropriated the aggregate sum of N3.2 billion by transferring same to Misa Limited’s account No: 1011295717 and 1011295718 domiciled with Zenith Bank in violation of the Prudential Guidelines and other regulations and thereby committed an offence contrary to Section 311 of the Penal Code and punishable under Section 312 of the same Act,” count three of the charge read.

The count five said, “That you Tunde Ayeni, whilst being the Chairman, Board of Directors of the Defunct Skye Bank Plc on or about November 27, 2014, at Abuja within the jurisdiction of this court and having dominion over depositors’ funds domiciled in the defunct Skye bank Plc’s Suspense Account, committed criminal breach of trust when you dishonestly misappropriated the sum of N5.1 billion by transferring same to Union Registrar Limited’s Account No: 0003490559 domiciled with Union Bank in violation of the Prudential Guidelines and other Regulations and thereby Committed an offence contrary to Section 311 of the Penal Code and Punishable under Section 312 of same Act.”

After the charges were read to him, Mr Ayeni pleaded “not guilty,” prompting Mr Iheanacho to pray the court for a trial date and asking for the remand of the defendant in a correctional centre.

The defence counsel, Mr Ahmed Raji Bashir (SAN), informed the court that the charge was given to the defendant on a public holiday, adding that he considered it imperative to inform the court. He also prayed the court to release the defendant to him or return him to the custody of the EFCC.

By Adedapo Adesanya

Nigeria’s Coordinating Minister of Health and Social Welfare, Mr Ali Pate, has announced that he will no longer run for the Bauchi State governorship in 2027, despite repeated calls from supporters urging him to contest.

In a 10-minute video message delivered in Hausa and circulating on social media, Mr Pate said he reached the decision after deep reflection and wide consultations.

Citing national service as his reason, he explained that he still has much to contribute to Nigeria’s development at the national level, as well as to the progress of Northern Nigeria.

“It is unlikely that I will run for governorship in 2027, and I assure you that you will not regret the love and support you have shown me throughout this period,” he said.

Despite stepping aside, Mr Pate pledged to remain actively involved in the political process leading to the emergence of a credible candidate and his party’s victory.

“There are many aspirants seeking various elective positions in Bauchi State. The time will come when I will support credible and capable candidates who have the interest of the people at heart, not self-centred leaders. We will identify the best candidates during the primaries,” he added.

He also urged other aspirants to remain patient and unite behind those who emerge from the primaries, noting that if he could set aside his personal ambition, others should be able to do the same.

Mr Pate further stated that he would work towards ensuring the victory of the All Progressives Congress (APC) in Bauchi State at all levels, for the benefit of the people.

He thanked his supporters and promised to redouble his efforts toward delivering positive development and impactful interventions.

The Health Minister has previously contested for the governorship three times but did not secure his party’s ticket in the primaries.

His withdrawal stems the tide of his former colleagues who quit their functions to pursue elective offices. Prominent among them is Mr Yusuf Tuggar, who resigned as Minister of Foreign Affairs to contest the Bauchi State governorship. Similarly, Mr Sa’idu Alkali stepped down from the Ministry of Transportation to pursue the governorship race in Gombe State.

In addition, Mr Adebayo Adelabu resigned his position as Minister of Power to re-enter the Oyo State governorship contest, marking a return to a long-standing political ambition in the state.

While other ministers, such as Mr Yusuf Tanko Sununu and Mr Nkeiruka Onyejeocha, also resigned, their ambitions were directed toward legislative positions rather than governorship races.