General
Nigeria Eyes IMO Security Council Seat by December 2025
By Adedapo Adesanya
Nigeria is eyeing an International Maritime Organisation (IMO) security council seat latest by December 2025, following approval by President Bola Tinubu.
This was disclosed by the Minister of Marine and Blue Economy, Mr Adegboyega Oyetola.
He said that Nigeria has officially notified IMO of its intention to contest for a Category C seat during the 34th IMO Assembly in London, which will be held in November or December 2025.
He said Nigeria’s case is strengthened by the recent efforts to position Nigeria as a leading maritime nation, with strategic reforms in port modernization, aquaculture expansion, and international trade facilitation.
The Minister confirmed that President Tinubu has approved the bid, adding that preparations are already underway.
“In furtherance of our improved international posture in world maritime governance, we have proposed a bid to contest election into the International Maritime Organization Council (Category C),” he said.
Mr Oyetola disclosed that the National Policy on Marine and Blue Economy, which prioritizes technology and private sector participation, is awaiting Federal Executive Council approval.
He also announced that the modernization and expansion of Tin Can Island and Apapa Port Complexes by the Nigerian Ports Authority (NPA) will soon commence, with a projected 20,000 jobs to be created.
Mr Oyetola highlighted that Nigeria has recorded three straight years without piracy incidents in West African shipping lanes and the Gulf of Guinea, a milestone he attributed to the implementation of the Deep Blue Sea Project and Falcon Eye Surveillance Systems.
“Through the efforts of the Ministry, its agencies, and other stakeholders, shipping lanes that traverse West Africa and the Gulf of Guinea have witnessed zero piracy for a record three years,” he said.
Mr Oyetola also emphasized that fishery and aquaculture are central to Nigeria’s Blue Economy vision.
“Our strategic focus is to upscale fish production in a sustainable manner, tapping into the full spectrum of our marine resources,” he said.
He further revealed that Nigeria achieved 100 per cent compliance in the 2024 Turtle Excluder Devices Re-certification by the US Department of State, a move that facilitates seafood exports to the USA, EU, and other global markets.
The Minister added that to enhance trade efficiency, the government is implementing the National Single Window Project, a digital platform that will centralize trade compliance processes and link ports with relevant agencies and stakeholders.
By Adedapo Adesanya
The Senate Committee on Public Accounts has announced a special legislative oversight and public hearing on the Nigeria Extractive Industries Transparency Initiative (NEITI) audit reports for the oil and gas sector covering the 2021, 2022 and 2023 fiscal years.
In a notice issued by the committee, its Chairman, Mr Ibrahim Dankwambo, disclosed that the exercise forms part of the committee’s constitutional oversight responsibilities under Sections 88, 89 and 85(5) of the 1999 Constitution (as amended), as well as Order 95(5)(d) of the Senate Standing Orders, 2026.
Mr Dankwambo stated that the NEITI audit reports contain detailed information on the operations, revenues, payments, remittances and financial obligations of stakeholders in Nigeria’s oil and gas industry.
According to him, the public hearing is aimed at assessing the level of compliance by ministries, departments and agencies (MDAs), government-owned enterprises, regulatory bodies and operators in the oil and gas sector with the provisions of the Constitution, the NEITI Act, Financial Regulations, the Fiscal Responsibility Act and other applicable laws governing the extractive industry.
He added that the committee would also examine issues raised in the audit reports to strengthen transparency, accountability, revenue assurance and the prudent management of public resources.
The committee has invited more than 50 public institutions and oil and gas companies to appear before it during the hearing, which is scheduled to be held in the month of August.
NEITI conducts independent audits of the extractive industries, monitors compliance with transparency standards, publishes reports on revenues, production, licensing, and financial flows, identifies discrepancies, and recommends policy reforms to strengthen accountability. It functions to improve governance and curb corruption in the management of the nation’s natural resource wealth.
By Modupe Gbadeyanka
The Minister of Power, Mr Joseph Tegbe, has declared that the federal government does not intend to increase electricity tariff at the moment, stressing that the priority remains improving supply to consumers across the country.
Speaking at a stakeholders’ session in Lagos on Friday, Mr Tegbe noted that, “Our objective is clear. To make electricity more available, make the grid more reliable, make the market financially sustainable and restore investor confidence. Ultimately, we want to ensure that electricity becomes a catalyst for national productivity rather than a constraint to economic growth.”
He stated that through the Presidential Metering Initiative, Nigeria is moving decisively towards universal metering because consumers deserve transparency, fairness and confidence that they only pay for the electricity they actually consume.
“This administration has also prioritised investment in transmission infrastructure, expanded rural electrification, strengthened institutional coordination across the electricity value chain, and continued to pursue reforms that encourage private capital while preserving the public interest,” the Minister said.
He affirmed the government’s commitment to improving electricity for Nigerians, having put in place adequate measures to achieve positive results in line with its renewed hope agenda.
According to him, resetting the sector does not imply that nothing has been achieved; it means building decisively upon the unprecedented reforms already initiated by President Bola Tinubu, whilst addressing long-standing structural deficiencies that have prevented the sector from reaching its full potential.
He disclosed that this administration has demonstrated strong political commitment to electricity sector reform since the liberalisation of the industry.
Mr Tegbe said the ministry has immediately commenced several significant interventions, including the inauguration of the Power Force. This initiative brings together 5,000 Nigerian Youths for meter installation across the country. This is to close the metering gap and also develop a strong, skilled pool of young Nigerians in the electricity field (NAPTIN).
Other interventions include significant progress in resolving the age-long challenges surrounding meter procurement, and encouraging improvements in electricity generation, as over the course of the last 2 weeks, the sector has consistently crossed the 5000MW mark.
“Our ambition is clear. Reliable electricity that powers our homes. Competitive electricity that powers our industries. Sustainable electricity that attracts investment. Inclusive electricity that reaches every Nigerian,” he stated.
By Adedapo Adesanya
President Bola Tinubu has approved the immediate dissolution of the Presidential Implementation Committee (PIC) on the Alienation of Federal Government Properties.
According to a release by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, henceforth, all matters relating to the activities of the committee would be coordinated by the Attorney General of the Federation and Minister of Justice, Mr Lateef Fagbemi (SAN).
“After careful consideration, the government has noted that the activities of the PIC had extended beyond its original mandate, resulting in multiple litigations across the country, and the continued existence of the committee is no longer justified,” the statement noted.
The PIC was established in 2000 during the administration of former President Olusegun Obasanjo to oversee the privatisation, sale, and lease of federal government landed assets under the government’s monetisation policy.
Its membership comprised the then Minister of Housing as Chairperson, alongside representatives from the Ministries of Transportation, Justice, Health, Agriculture, and the Nigeria Police Force.
Professor P.T Ahire, then a Deputy Director in the Office of the Secretary to the Government of the Federation, served as the pioneer Secretary. Other members were drawn from both the public and private sectors.
On March 22, 2001, the Federal Executive Council (FEC) approved the establishment of a Panel of Inquiry to produce a White Paper to guide the implementation of its recommendations.
The panel worked for 21 months before submitting its report, and after careful consideration, the government has noted that the activities of the PIC had extended beyond its original mandate, resulting in multiple litigations across the country, and the continued existence of the Committee is no longer justified.
Accordingly, the President directed the dissolution of the PIC and that the Attorney General of the Federation coordinate its activities with effect from November 5, 2025.
Following the President’s directive, the PIC stands dissolved, and the erstwhile Secretary, Mr B. S Dutsin-Ma, has been directed to cease acting on behalf of the committee and the Federal Government on related matters.
