General
Lokpobiri Counsels African Producers to End $120bn Fuel Import Bill
By Adedapo Adesanya
The Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, has called for urgent collaboration among African nations to reduce the continent’s annual $120 billion expenditure on fuel imports.
He said the continent must retain more value by building refining capacity and energy infrastructure.
Mr Lokpobiri, who made the call in a statement shared on X, said Africa’s growing energy demand presents enormous opportunities that must be strategically harnessed to achieve regional self-sufficiency and long-term economic stability.
“The African energy market is vast, our resources are abundant, and the demand for energy continues to grow exponentially,” the Minister said.
“Therefore, we must leverage every available measure and strategy to diversify our energy mix, address supply challenges, and attract more investment into our energy sector,” he added.
According to him, Nigeria is leading the charge through sweeping energy reforms and fiscal incentives aimed at creating an investor-friendly environment that supports local refining, cleaner fuels, and cross-border collaboration.
“Nigeria is championing this cause through far-reaching reforms and fiscal incentives that continue to make the Nigerian energy market increasingly competitive and attractive to investors.”
The Minister said that Africa’s dependence on imported petroleum products remains unsustainable and undermines the continent’s economic resilience.
He described the $120 billion annual fuel import bill as a wake-up call for leaders to act decisively in building regional refining networks and value chains.
“For Africa to be spending over $120 billion annually on the importation of hydrocarbon products clearly indicates how vast and promising our energy market is,” he said. “This reality calls for deliberate efforts to retain a significant portion of that value within the continent by developing our refining capacity, infrastructure, and market systems.”
Mr Lokpobiri emphasized that Nigeria’s energy policy reforms, including incentives for modular refineries, investments in gas monetization, and the rehabilitation of state-owned refineries, are part of the country’s strategy to reduce dependency on imports and support regional trade.
He highlighted that the West Africa Reference Market, WARM, initiative, which seeks to harmonize fuel standards, prices, and logistics across the subregion, is a major step toward achieving energy integration and sustainability.
“This is precisely what the West Africa Reference Market seeks to achieve,” he explained, “creating a framework that enhances regional self-sufficiency, competitiveness, and collaboration.”
The Minister also reiterated Nigeria’s strategic role as a continental leader in energy production, refining, and trade, stressing that cooperation across borders is vital to unlocking Africa’s full potential.
“Nigeria remains strategically positioned to continue playing a leading role in realizing this vision for Africa’s energy future,” he said.
This stance reflects growing consensus among African producers to prioritize refining and value retention, especially following the planned expansion of Dangote Refinery to 1.4 million barrels per day that could define Africa’s downstream dynamics.
Mr Lokpobiri’s remarks come as the continent intensifies talks on harmonizing petroleum policies under the African Continental Free Trade Area (AfCFTA) aiming to create a single, competitive market for oil and gas products.
By Modupe Gbadeyanka
The share certificates, seven landed properties, and $2.1 million linked to the former Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, have been finally forfeited to the federal government.
The final forfeiture was affirmed by a unanimous judgment delivered by a five-member panel of the Supreme Court on Friday, July 17, 2026.
The panel led by Justice Ibrahim Mohammed Saulawa set aside the judgment of the Court of Appeal and affirmed the decision of the Federal High Court, Lagos, which had ordered the final forfeiture of the assets on the grounds that they were reasonably suspected to have been acquired with proceeds of unlawful activities.
Following the final forfeiture order made by the Federal High Court, Mr Emefiele challenged the decision before the Court of Appeal, which reversed the judgment of the trial court.
Dissatisfied with the appellate court’s decision, the Economic and Financial Crimes Commission (EFCC) approached the apex court, which has now restored and affirmed the judgment of the Federal High Court.
The forfeited properties include a fully detached duplex of identical structures situated at No. 17B Hakeem Odumosu Street, Lekki Phase 1, Lagos; an undeveloped parcel of land measuring 1,919.592 square metres, covered by Survey Plan No. DS/LS/340, situated at Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos; and a bungalow situated at No. 65A Oyinkan Abayomi Drive (formerly Queens Drive), Ikoyi, Lagos;
Others are a four-bedroom duplex situated at 12A Probyn Road, Ikoyi, Lagos; an industrial complex under construction on 22 plots of land in Agbor, Delta State; eight units of undetached apartments on a plot measuring 2,457.60 square metres, situated at No. 8A Adekunle Lawal Road, Ikoyi, Lagos; and a full duplex together with all its appurtenances on a plot measuring 2,217.87 square metres, situated at 2A Bank Road, Ikoyi, Lagos.
By Adedapo Adesanya
The Ebonyi State Police Command has insisted on conducting a post-mortem examination to determine the cause of death of Miss Mary Habila, a physiotherapist who died at the residence of the Minister of Works, Mr David Umahi, in Uburu, Ohaozara Local Government Area of Ebonyi State.
The demise of the deceased, which occurred in late June, recently became public and has sparked calls for a probe from many quarters.
Meanwhile, the family of the deceased has approached the court to stop the autopsy, but experts tell Business Post that the family has no authority to file an affidavit, as this is a case of suspected murder against the state and not the family.
Mr Umahi has also called for a probe.
The Ebonyi Police Command said the autopsy was necessary to establish the cause of death and support its ongoing investigation, despite objections from the deceased’s family.
The Police Public Relations Officer (PPRO), SP Joshua Ukandu, disclosed this in a statement issued on Wednesday, stating that the police had commenced a comprehensive investigation into the circumstances surrounding Ms Habila’s death.
Mr Ukandu said preliminary investigations revealed that the deceased and a colleague were members of the medical team attached to the Minister of Works and had accompanied him to his hometown in Uburu, where she later died in a room within the compound of his residence.
According to him, detectives from the State Criminal Investigation Department (SCID) have visited the scene, documented relevant evidence and obtained statements from persons connected to the incident.
He added that the command had concluded arrangements to engage a qualified pathologist to carry out a post-mortem examination, which it considers crucial to determining the actual cause of death.
Mr Ukandu explained that the police became involved in the matter after receiving a distress call on June 27, 2026, from the Divisional Police Officer (DPO), Ohaozara Division, informing the command of a medical emergency involving Habila and requesting his presence at the David Umahi Federal Teaching Hospital, Uburu.
“On arrival, the DPO was informed by hospital authorities that Miss Mary Habila had been brought in dead.
He immediately briefed the Commissioner of Police, who directed that the matter be transferred to the State Criminal Investigation Department (SCID) for thorough investigation,” the statement read.
The police spokesperson disclosed that while the family of the deceased had opposed the conduct of an autopsy, the command considered the procedure necessary in view of the circumstances surrounding the death.
“The Command therefore awaits the attendance of the family or their duly appointed representative, as their presence is essential to the conduct of the post-mortem examination,” Mr Ukandu said, assuring the public that the investigation would be conducted professionally, transparently and without bias, stressing that every necessary step would be taken to uncover the circumstances surrounding Habila’s death.
Mr Ukandu further assured that the command would continue to provide updates as the investigation progresses.
Family Seeks to Stop Autopsy
The family of the deceased, who is a staff member of the David Umahi Federal University of Medical Sciences and was seconded to the Federal Ministry of Works, formally requested the withdrawal of further investigation into her death and declined an autopsy.
In an affidavit titled Affidavit of Withdrawal of Case filed before the High Court of Justice of Ebonyi State, her father, Tanko Habila Wisdom, said the family was not alleging any foul play in her death and wished to proceed with her burial.
According to the affidavit, Mary Habila died on June 27, 2026, in Uburu, Ohaozara Local Government Area of Ebonyi State.
The deponent stated that before her death, Habila was a staff member of the David Umahi Federal University of Medical Sciences and had been seconded to the Federal Ministry of Works in Mabushi, Abuja, where she served in the Office of the Minister of Works for about three years.
By Adedapo Adesanya
A Federal High Court in Apo, Abuja, has ordered the final forfeiture of billions of Naira worth of assets linked to businesswoman and socialite, Ms Aisha Achimugu, to the federal government.
Justice Jude Onwugbuzie granted the order following an application by the Economic and Financial Crimes Commission (EFCC), directing the permanent forfeiture of jewellery valued at N4.645 billion, 11 exotic vehicles worth N4.293 billion, $50,000 and N30 million in cash.
The ruling followed the EFCC’s request for the final forfeiture of the assets, which the commission said were linked to Ms Achimugu.
The forfeited assets include: Jewellery valued at N4,645,170,294.90; 11 exotic vehicles worth N4,293,000,000; $50,000 in cash; and N30,000,000 in cash.
The court’s judgment vests ownership of the assets in the federal government, bringing the forfeiture proceedings to a close.
In March, Justice Emeka Nwite of the Federal High Court in Abuja affirmed the final forfeiture of $13 million linked to the Lagos socialite. However, in an interview in April, she denied that $13 million was discovered by the EFCC in her residence, describing the claim as inaccurate and misleading.
Justice Nwite had, on August 22, 2025, granted the anti-graft agency’s motion ex parte for an interim order forfeiting the sum of $13 million linked to Oceangate Ltd to the federal government over allegations that the fund was proceeds of unlawful activity.
The judge had then directed the commission to publish the order in a national daily for interested people to show cause within 14 days why the fund should not be permanently forfeited to the federal government.
In 2024, the businesswoman gained significant media attention for a seven-day birthday celebration in Grenada, which was attended by high-profile guests, reportedly including Lagos State Governor Babajide Sanwo-Olu.
The socialite also defended her widely publicised birthday celebration, noting that it had been “planned for 10 years” and was not funded with any money under investigation.
