By Aduragbemi Omiyale

The gantry price of Premium Motor Spirit (PMS), otherwise known as petrol, has been slashed by the Dangote Petroleum Refinery.

The Lagos-based oil facility brought down the ex-depot price of the petroleum product by 15.58 per cent or N129 per litre to N828 per litre.

Though the company had yet to release an official statement on this development, real-time market data on Petroleumprice.ng on Friday showed the new price.

Punch reports that data from the platform also showed fresh reductions across several private depots following the refinery’s latest review.

Sigmund Depot cut its ex-depot price by N4 to N824 per litre, Bulk Strategic dropped its price by N3, and TechnoOil slashed its by N15.

By Adedapo Adesanya

The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, has inaugurated a new board for the Agricultural Credit Guarantee Scheme Fund (ACGSF) with a renewed push to expand agricultural lending through technology, innovation and deeper financial inclusion.

Speaking at the inauguration in Abuja, Mr Cardoso said the scheme, established in 1977, remains a critical instrument for de-risking credit to farmers nationwide.

“The ACGSF has demonstrated enormous value in supporting Nigeria’s food system. With repayment rates consistently between 90 and 98 percent, it is clear that farmers can deliver when given access to credit,” he said.

The CBN Governor stressed the need for a more modernised approach to agricultural finance.

“We must scale up innovation, deepen inclusion and deploy technology to ensure that more farmers, especially women and youth, can benefit from this scheme,” Mr Cardoso stated, charging the new board to strengthen collaboration with financial institutions while ensuring real-time tracking and monitoring of loans to improve productivity and safeguard the fund’s integrity.

The newly inaugurated Board is chaired by Dr Olusegun Oshin, with members including Professor Murtala Sabo Sagagi, Dr Nneka Onyeali-Ikpe, Mr Frank Satumari Kudla, Ms Olusola Sowemimo, Ms Adetoun Abbi-Olaniyan and Mr Wondi Philip Ndanusa.

Mr Cardoso expressed confidence in the team’s ability to reposition agricultural credit delivery.

“This Board comes at a crucial time. We expect stronger oversight, improved efficiency and a renewed focus on rural livelihoods,” he said.

According to a statement from the apex bank, Deputy Governors, Directors and senior officials of the bank were present at the ceremony.

By Modupe Gbadeyanka

The Minister of Power, Mr Bayo Adelabu, has accused the leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele, of extortion.

In a petition to the Department for State Services (DSS), the Minister claimed the cleric attempted to extort him of N150 million for spiritual assistance.

It was reported that after ​Mr Adelabu, who intends to become the Governor of Oyo State after the tenure of the incumbent, Mr Seyi Makinde, in 2027, refused to provide funds for the purchase of music instruments the prophet told him to purchase to seek the mercy of God on him ambition because of the cost, the cleric began to make negative prophesies about him.

This, according to a report by TheCable, prompted the Minister to report the matter to the DSS.

But in a statement on Friday by his media aide, Mr Osho Oluwatosin, the man of God refuted the allegations, saying he never attempted to extort Mr Adelabu as being alleged.

Mr Ayodele explained that the Minister himself asked for the cost, and he gave him a figure, while asking him to send someone from his end to the market in order to confirm the prices of the instrument, trumpet.

He stated that aside from Mr Adelabu, two other persons, including his personal assistant, were putting pressure him because the Minister was showing serious desperation for the seat of a governor in Oyo State.

“I didn’t ask Bayo Adelabu to bring money for prayers, I told him to ask someone from his end to go to the market and find out how much the trumpet cost, while someone follows them from my end too. His personal assistant, himself, and the person he sent to me put me under so much pressure because he was desperate for governorship.”

“He was the one who sent someone to me to talk to me on his behalf. He went as far as saying he was willing to give anything to become the next governor of Oyo State, and the only thing I told him is to get the trumpets for his own good,” the prophet narrated.

Speaking further on their discussion, Primate Ayodele explained that he told Mr Adelabu that they won’t be willing to give him the governorship ticket but he can seek the mercy of God by buying the musical instrument, not necessarily for his church, which he refused, and beyond that, there was no other discussion.

“I told him that they won’t want to give him the governorship ticket, but if he wants it so bad, he should seek the mercy of God by buying the musical instruments for God, not even for my church, but he said he can’t do it, that’s all,” he disclosed further.

The Lagos-based cleric stated that for years, he had been talking about the ambition of Mr Adelabu and has maintained that it would take the grace of God for him to become the governor of Oyo State. Therefore, it couldn’t have been because the Minister refused to yield, because he had never spoken to him till he sent people to him.

“I have been talking about how he won’t be made governor of Oyo State for years; this is why he called me to seek solutions. I have never spoken to him before till he sent people to me and personally requested my spiritual help.

“I don’t make prophecies to make money, I am blessed already, and my subsequent prophecies after our discussion about his ambition aren’t because he failed to buy the musical instrument, it can never be,” he noted.