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PDP Chairmanship: Bode George Picks Nomination Form

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Former Deputy National Chairman of the Peoples Democratic Party (PDP), Chief Bode George, has obtained his nomination form to contest for the national chairmanship position of the opposition party.

George picked his nomination form on Friday ahead of the August 17, 2016 National Convention of the party to be held in Port Harcourt, Rivers State.

The PDP chieftain disclosed that if eventually elected, he would work hard to bring peace back into the party.

Recall that the PDP has been in crisis since it lost power to the All Progressives Congress (APC) in the 2015 presidential election.

Speaking after picking his nomination form, George said, “I am happy that all is not lost, and the condition has been enhanced; zoning has gone extremely well. I have paid my dues in this party and I should not be afraid of anybody.”

He warned the APC to be ready for a serious battle because the PDP will wrestle back power from it in 2019.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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Navy Seizes 105,000 Litres of Diesel, Arrests 8 in Bonny Operation

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Nigerian Navy

By Adedapo Adesanya

The Nigerian Navy has uncovered and neutralized an illegal petroleum products camp in Bonny, Rivers State, seizing over 105,000 litres of Automotive Gas Oil (AGO) illegal bunkering equipment, and suspected illegal substances, while arresting eight suspects.

Operations Officer of the Forward Operating Base, FOB Bonny, Lieutenant Commander Sirajo Almustapha, confirmed the operation in a statement, stressing that the breakthrough aligned with the Chief of Naval Staff, Vice Admiral Emmanuel Ogalla’s directive to curb crude oil theft and bunkering within the area.

“On Monday 18 August 2025, FOB Bonny anti-illegal refining Team were deployed for clearance operation within Ama-Omu Community. At the site, the team discovered a large wooden boat tied to a Jetty behind a building,” he said.

According to him, the wooden boat was laden with “7 x 5,000 litres plastic tanks filled with AGO. The tanks were connected to a hose that led into a compound. The team further accessed the compound and discovered 3 large sheds and 4 rooms within the building containing tanks and drums of varying sizes.”

The Navy listed the items recovered as six 10,000-litre Geepee plastic tanks, 18 units of 5,000-litre tanks, 138 units of 300-litre tanks, three 1,000-litre tanks, 15 kegs of 75 litres, pumping machines, metering machines, hoses, valves, and work tools.

“Pertinently, the products discovered at the site was cumulatively estimated to be about 105,450 litres of AGO. This quantity of products was denied criminal elements,” Mr Almustapha stated.

He also disclosed that the search uncovered walkie-talkies, uniforms, charms, mobile phones, identity cards, documents, and items suspected to be marijuana.

Furthermore, 8 suspects were arrested in connection with the products. The suspects had been handed over to the NSCDC and NDLEA for further investigation and prosecution,” the officer added.

Mr Almustapha noted that the activities violated the Miscellaneous Offences Act of 2004 and the Petroleum Act, stressing the safety risks.

“It is noteworthy that storing large quantity of AGO within a confined space in the midst of a built-up neighbourhood posed a safety risk on the Island. More worrisome is the presence of an electric pole with network of high-tension electric cables in the middle of one of the storage sheds.”

He explained that a single spark could trigger a fire capable of wiping out an entire neighbourhood.

“Additionally, there was no provision for fire extinguishers within the entire premises. The presence of the storage dump constituted grave danger and safety hazard to the inhabitants of Bonny Island,” he said.

Mr Almustapha warned that the perpetrators flagrantly disregarded extant laws. “Thus, the action of the owner indicates blatant disregard for provisions of the laws of the Federal Republic of Nigeria. Notably, lack of approval to deal with petroleum products contravenes extant laws and constitutes clear violation of the Miscellaneous Offences Acts of 2004,” he said.

He warned that anyone caught dealing in petroleum products without lawful authority faces jail terms of up to five years, fines of up to N20 million, or penalties running into hundreds of thousands of Dollars.

Representative of the Nigeria Security and Civil Defence Corps, NSCDC, Superintendent Sunday Omagu, commended the Navy for its proactive role.

“The NSCDC will continue to maintain the cordial relationship in fighting crime, protecting national assets and denying criminal elements freedom of action.”

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PenCom Recovers N4.57bn Pension Funds from 138 Defaulting Employers

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Pension Fund Operators

By Adedapo Adesanya

About N4.57 billion in pension funds have been recovered from defaulting employers between the first quarter of 2024 and the first quarter of 2025 by the National Pension Commission (PenCom).

This information was revealed by the chief executive of the Pension Fund Operators Association of Nigeria (PenOp), Mr Oguche Agudah, who said the amount comprised N2.12 billion in outstanding pension contributions and N2.45 billion in penalties.

According to him, these were recovered by an enforcement team of PenCom from 138 employers found to have defaulted in remitting workers’ pension funds.

“This is evidence that enforcement continues to safeguard workers’ retirement savings. The pattern also highlights what is next, which is a move from episodic crackdowns to durable prevention by tightening real-time remittance monitoring, escalating sanctions for chronic defaulters, and deepening employer education to reduce repeat offenses.

“The goal is not just big recovery headlines, it is fewer defaults, faster remittances, and a stronger, more predictable Contributory Pension Scheme.

“It is vital that workers know their rights. All employers engaging three or more staff are required by law to remit pensions on behalf of their employees.

“There are whistle blowing mechanisms for employees whose organisations do not comply,” he said, according to the News Agency of Nigeria (NAN) on Tuesday.

According to Mr Agudah, a breakdown of the enforcement exercise which led to these recoveries, revealed that the highest recovery was recorded in the first quarter of 2024, when N751.51 million in contributions and N1.44 billion in penalties were recouped.

He noted that although recoveries dipped in the middle of 2024, activities picked up in the fourth quarter and rebounded strongly in the first quarter of 2025, adding that during the period, the commission recovered N972.12 million in contributions and N381.88 million in penalties from 19 employers.

He explained that while the first quarter of 2025 was not the highest in overall recovery, it posted the strongest principal contribution of the five-quarter period, with an average recovery of N71 million per employer compared with about N63 million in the same quarter of 2024, noting that the trend showed it was tackling larger and more material cases, even as the number of defaulting employers declined.

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Nigeria Imports 1,721 MW of Solar Panels in 12 Months

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By Adedapo Adesanya

Between June 2024 and June 2025, Nigeria overtook Egypt to become the second-largest importer of solar panels in Africa, with 1,721 MW of solar panel imports, according to a new analysis of China’s solar panel exports data from energy think tank, Ember.

The firm said solar panel imports into Africa rose by 60 per cent in the 12 months to June 2025, reaching 15,032 MW from the 9,379 MW imported in the preceding 12 months. This shows the rise happening across Africa is at a scale to impact the electricity systems of many countries.

Recall the the federal government mulled the ban on solar panel imports to buoy local production, but that has not materialised so far.

The last time imports surged was in 2023, when South Africa’s solar imports picked up as the power crisis hit its peak. However, this time is different as much of the pick-up in the last 12 months happened outside of South Africa.

The data showed that Nigeria and 20 countries set a new record for the imports of solar panels in the 12 months to June 2025, while 25 countries imported at least 100 MW, up from 15 countries 12 months before.

While South Africa remained topped and Nigeria followed, Algeria ranked third with 1,199 MW.

Some countries recorded very high growth rates. Algeria’s imports rose 33-fold, Zambia eightfold, Botswana sevenfold, and Sudan sixfold, while Liberia, DRC, Benin, Angola and Ethiopia all more than tripled their imports.

The analysis finds that recent imports could make a major contribution to electricity generation in many African countries. If fully installed, imports in Sierra Leone in the last 12 months could generate electricity equivalent to 61 per cent of reported electricity generation in 2023, while in Chad the figure is 49 per cent. Liberia, Somalia, Eritrea, Togo and Benin could see generation rise by more than 10 per cent of reported 2023 generation. In total, 16 countries could see an increase of over 5 per cent.

The report describes how solar panel imports may actually reduce overall imports. The savings from avoiding diesel can repay the cost of a solar panel within six months in Nigeria, and even less in other countries. In nine of the top ten solar panel importers, the import value of refined petroleum eclipses the import value of solar panels by a factor of between 30 to 107.

Speaking on the data, Mr Muhammad Mustafa Amjad, Program Director at Renewables First, noted this surge is still in its early days and drawing a parallel of Pakistan’ s solar boom in the last two years, said it is important to have data.

“Bottom-up energy transitions fueled by cheap solar are no longer a choice – they’re our future. Tracking these additions is what makes the difference between a messy shift and an organised, accelerated one,” said  “When you don’t track, you lose time and opportunities. Pakistan’s experience shows this clearly. Africa’s transition will happen regardless, but with timely data it can be more equitable, planned and inclusive.”

On his part, Mr Dave Jones, Chief Analyst at Ember, said, “The take-off of solar in Africa is a pivotal moment. This report is a call to action, urging stronger research, analysis and reporting on solar’s rise to ensure the world’s cheapest electricity source fulfils its vast potential to transform the African continent.”

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