General
INEC Submitted 2019 Election Budget to Presidency Since February–PDP
By Modupe Gbadeyanka
Nigeria’s main opposition party, Peoples Democratic Party (PDP), has alleged that the Independent National Electoral Commission (INEC) submitted its budget for the 2019 general elections to the presidency since February 2018.
The party made this allegation via a statement signed on Sunday by its National Publicity Secretary, Mr Kola Ologbondiyan.
Business Post reports that after the 2018 budget of N9.1 trillion was passed by the National Assembly in June 2018 and ‘reluctantly’ signed into law by President Muhammadu Buhari, he sent a supplementary budget to the parliament for the next year’s polls for approval.
However, the National Assembly went into recess last month to resume next month without attending to the supplementary budget.
The presidency had begged the parliament to reconvene to pass the budget to allow INEC prepare for the elections but there are fears that the presidency is planning to use the opportunity to effect a change in leadership of the Senate because of the defection of the Senate President, Mr Bukola Saraki, from the ruling All Progressives Congress (APC) to the PDP.
In the statement released today by the PDP, it has unraveled fresh facts confirming that the pressure by the Presidency for the reconvening of the Senate is out of a sinister motive and not for any emergency in the approval of the budget of INEC for the 2019 election.
The party also said it has again uncovered a plot by the APC and the cabal in the Mr Buhari Presidency to use “compromised security agencies and the Economic and Financial Crimes Commission (EFCC) to invite, arrest and detain Senate President Bukola Saraki and Deputy Senate President Ike Ekweremadu.”
It alleged that the fresh plot to detain the two presiding officers is part of renewed design to keep them out of circulation, ahead of Senate resumption, so as to enable the heavily induced APC senators, who are now in the minority, to throw up two of their members as Senate President and Deputy Senate President respectively on the excuse that Saraki and Ekweremadu failed to show up for proceedings in the Senate.
“The PDP notes that the new plot to cage Saraki and Ekweremadu, in devilish rehash of the Tuesday July 24, 2018 hostage-taking and invasion of their official residences by security agencies is coming after the August 7, 2018 failed attempt to use security forces to take control of the leadership of the Senate.
“Apart from plots to arrest and detain Saraki and Ekweremadu, the PDP has also been made aware of plans to use the EFCC and security forces to clamp down on their family members, including their wives and siblings as well as close associate, all in the effort to weaken their resolve.
“Moreover, investigations by the PDP further confirm that the insistence of the APC-led Federal Government on the emergency reconvening of the National Assembly, ostensibly to consider INEC’s budget for the 2019 election, is part of APC’s thicker plot to execute their premeditated ‘coup’ on the leadership of the Senate.
“PDP was further informed that contrary to claims by the APC and the Presidency, INEC actually submitted the budget to the presidency since February 2018, only for the Presidency to submit it to the National Assembly in July when the legislature was already going on recess; with a view to enmesh it in a needless controversy.
“Furthermore, the PDP counsels Acting President Yemi Osinbajo to stop acting saint, as Nigerians are aware that he is part and parcel of the actors behind the sordid developments playing out in the National Assembly.
“The PDP invites Nigerians and the international community to note the activities of the APC and the Buhari Presidency, which have continued to put the unity and stability of our nation as well as our hard-earned democracy under serious stress.
“In all, the PDP cautions the APC and power mongers at the Presidency to know that Nigerians have seen through their evil intentions and will continue to firmly resist them by standing for democracy and the unity of our nation at all times,” the statement said.
By Dipo Olowookere
The need for new thinking on energy transition, infrastructure financing and energy journalism has been emphasised by a leading energy company, Sahara Group.
The organisation, at the 2026 Asharami Square held in Lagos on Wednesday, July 22, stressed the need for solution-based journalism for better results.
At the event themed Energising Africa’s Future: Legacy, Impact and Transformation, the Director of Governance and Sustainability at Sahara Group, Ms Ejiro Gray, in her opening remarks, noted that Africa’s energy future must be shaped by local realities, calling for more balanced, evidence-based journalism capable of interrogating the complexities of energy transition, development and sustainability.
“Effective journalism should not only tell us what happened; it should help us understand why it matters, whose interests are affected and what perspectives are missing from the conversation,” she posited.
The Special Adviser to the President on Power Infrastructure, Mr Sadiq Wanka, in his keynote address, highlighted the opportunities emerging within Nigeria’s electricity sector as reforms continue to open new pathways for investment.
He stated that reforms across the sector were creating opportunities in embedded generation, mini-grids, renewable energy, transmission infrastructure and industrial power solutions, while urging journalists to delve deeper into policy reforms, investment opportunities and implementation outcomes.
“The issue is no longer technology. The real challenge is mobilising capital at scale, structuring bankable opportunities and creating an ecosystem that attracts long-term financing,” Mr Wanka said.
At a panel session featuring the Director of Institute of Continuing Education of the University of Lagos, Prof. Abigail Ogwezzy-Ndisika; the chief executive of the Lagos State Electricity Regulatory Commission (LASERC), Ms Temitope George; and the Managing Director of Chapel Hill Denham, Ms Kemi Awodein, it was echoed that Africa possesses significant pools of capital capable of supporting infrastructure development, but that unlocking investment requires stronger governance, investor confidence and better project preparation.
“Energy reporting must go beyond headline events and announcements. Journalists need to ask deeper questions, examine the evidence and connect policy decisions to their impact on communities and everyday lives,” Prof Ogwezzy-Ndisika stated at the panel moderated by the Associate Editor for Africa at Argus Media, Mr Adebiyi Olusolape.
Ms Awodein, during the panel which explored the question: Who is financing Africa’s energy future? Pointed out that “Nigeria has demonstrated that domestic capital can finance transformational infrastructure at scale. The real differentiator is governance, transparency and a clear pathway to value creation.”
Business Post reports that one of the major highlights of the programme was the unveiling of the Asharami Square Energy Reporting Fellowship, which the Head of Corporate Communications at Sahara Group, Mr Bethel Obioma, said was designed to deepen journalists’ understanding of the technical, commercial, environmental and policy issues shaping the energy sector.
He disclosed that this aligns with Sahara Group’s Beyond XXX vision of investing in people and platforms that will help shape Africa’s future, adding that Prof Ogwezzy-Ndisika will serve as the lead assessor for the programme.
“Through the Asharami Square Energy Reporting Fellowship, we are investing in the capacity of journalists to tell more solutions and evidence-based stories that reflect the realities, opportunities and challenges of Africa’s energy transition,” he stated.
Since its launch in 2024, Asharami Square has continued to advance informed dialogue, strategic partnerships and practical solutions that support Africa’s evolving energy landscape and reinforce Sahara Group’s commitment to delivering impact beyond its first three decades.
By Adedapo Adesanya
The Federal High Court in Abuja has sentenced three suspects in the abduction of students and teachers in Oriire Local Government Area of Oyo State to life imprisonment.
According to the court, the sentencing of Mr Abdulrazak Umar, known under the alias Abu Khalifa/Abu Khalid; Mr Yunusa Musa, alias Yunusa Bin Musa; and Mr Shamsu Adamu Sani, alias Abu Itisar, will start from the date of their arrest.
Before the sentencing by Justice Salim Ibrahim, counsel for the defendants pleaded with the court to sentence them on liberal terms, adding that they were first-time offenders and had pleaded guilty.
Justice Ibrahim pointed out that this showed that they were remorseful of their actions, and all the counts they were charged with are not related to the kidnapping.
He added that the convicts were married men who have children and have aged parents who are dependent on them. He pleaded with the court to give them a second chance at life and sentence them on liberal terms.
Counsel for the prosecution, however, pointed out that the convicts were aware of the people on the battlefield, and as true Nigerians, they should have reported it to the authorities.
After the charges were read to them, they pleaded guilty to membership of a proscribed terrorist group.
At their arraignment on alleged terrorism at the Federal High Court, Abuja, the three defendants also pleaded guilty to concealing information on the planning and execution of the abduction.
However, only the first accused person, Abdulrazak Umar, alias Abu Khalifa/Abu Khalid, pleaded guilty to counts 7, 8, 9 and 10, which bordered on training and passing instructions and inciting terror group members on a particular religious ideology.
The three accused persons were on trial by DSS on a 10-count charge bordering on kidnapping, concealment of information, and terrorism-related offences.
According to the charges, the defendants, all from Niger State, are accused of knowingly withholding information about individuals linked to terrorist activities, participating in kidnapping, and using a messaging platform to facilitate terrorist training.
The federal government had, last week, charged the suspects for the recent kidnapping of children and teachers of a school in the Oriire Local Government Area (LGA) of Oyo State. The 10-count charges filed before the Abuja court bordered on terrorism, kidnapping, concealment, incitement and illegal mining.
By Adedapo Adesanya
Pathway Advisors Limited (PAL) and Pivot Integrated Energy Services Limited have launched a N100 billion Series 1 Commercial Paper (CP) issuance under Pivot’s N300 billion Commercial Paper Programme, opening a new funding window aimed at strengthening the downstream energy company’s working capital.
The offer, for which Pathway Advisors is serving as Lead Arranger and Issuing House, is now open for subscription and will close on July 31, 2026.
The transaction underscores Pathway Advisors’ role in facilitating capital market access for Nigerian corporates while supporting the expansion plans of one of the country’s indigenous downstream energy companies.
Under the transaction, Pivot is seeking to raise up to N100 billion through three tranches with varying tenors and returns. Series 1 Tranche A has a tenor of 180 days, offering a discount rate of 17.5 per cent and a yield of 19.15 per cent. Tranche B has a tenor of 270 days, with a 19.5 per cent discount rate and a yield of 22.79 per cent, while Tranche C has a 364-day tenor, carrying a 19.69 per cent discount rate and a yield of 24.50 per cent.
The minimum subscription is N5 million, representing 5,000 units at N1,000 per unit, with additional subscriptions accepted in multiples of N1,000 thereafter.
The commercial paper programme has received investment-grade short-term ratings from leading rating agencies, earning an A3 rating from Agusto & Co., an A3 rating from Global Credit Ratings (GCR), and an A1 rating from DataPro Limited.
According to the transaction details, proceeds from the issuance will be deployed towards working capital financing to support Pivot’s operations in the importation, trading, storage, distribution and supply of refined petroleum products across Nigeria and selected African markets.
The company said the offer presents investors with an opportunity to participate in the growth of a leading indigenous downstream energy company supported by strong revenue growth, robust off-take arrangements and improving profitability.
Pivot Integrated Energy Services Limited is an indigenous integrated downstream energy company engaged in the importation, trading, storage, distribution and supply of Premium Motor Spirit (PMS), Automotive Gas Oil (AGO) and Aviation Turbine Kerosene (ATK).
The company serves a broad customer base that includes bulk buyers, distributors, industrial users, logistics operators, manufacturers and retail-linked channels across key commercial centres such as Lagos, Calabar and Port Harcourt.
It is also one of the 20 approved off-takers under the Dangote Refinery PMS Consortium, with an allocated target volume of 300 million litres of Premium Motor Spirit per quarter, positioning it among the key distributors in Nigeria’s evolving downstream petroleum market.
For Pathway Advisors Limited, the transaction further reinforces its position in Nigeria’s debt capital market as a financial advisory and capital-raising firm. Registered and regulated by the Securities and Exchange Commission (SEC), the firm provides transaction advisory, capital raising, project finance, mergers and acquisitions advisory, and strategic financial solutions to corporate and institutional clients.
The firm said it remains committed to facilitating access to capital for businesses while supporting sustainable economic growth across key sectors of the Nigerian economy through innovative financing solutions.
