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PDP Crisis: Sheriff, Makarfi Embrace Peace

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By Ebitonye Akpodigha

The factional chairmen of the Peoples Democratic Party (PDP) have finally reconciled their difference, Business Post can report.

Both factions of the country’s main opposition party have agreed to embrace peace and a truce reached.

Leaders of the two warring parties, Ahmed Makarfi and Ali Modu Sheriff, met in Abuja on Tuesday with some party stalwarts, who settled their differences. They have now put the past behind them and have promised to work together to ensure the PDP wrestle power back from the ruling party, the All Progressives Congress (APC) in 2019.

After the meeting on Tuesday, representatives of the factions, Mr Ben Obi of the Makarfi-led caretaker committee and Mr Cairo Ojougbo of the Sheriff faction held a joint press conference to announce the truce.

“In reviewing the crisis that has engulfed our party, the PDP since the loss of the 2015 general elections, after 16 years of uninterrupted leadership at the centre, it became obvious to both of us as principal actors that it is time to heal the wounds, and bring about a united, focused and constructive opposition party that can bring sanity to our democratic process, bringing relief to the teeming supporters of our great party, the PDP and to the benefit of our country Nigeria.

“Based on the above, we have both agreed to consult widely with all relevant organs of the party; set up a joint committee that will carry out a holistic reconciliation of all aggrieved segments of our party across the country and in diaspora; pursue the vision of the founding fathers of our great party the PDP,” Mr Ojougboh, who read the text of the press statement said.

The peace deal comes ahead of the governorship election in Edo State next Wednesday.

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 [email protected]

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DAPPMAN Faults Dangote’s Suit to Halt Fuel Imports

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By Adedapo Adesanya

The Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) has kicked against a lawsuit filed by the Dangote Petroleum Refinery to invalidate fuel import licences issued by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

Last week, the refinery asked the Federal High Court in Lagos to void import permits granted by the NMDPRA to fuel importers.

The marketers said it would not fold its arms and allow its depots to go into extinction through a court ruling, arguing that the licences being challenged were not mere administrative favours but legal instruments issued under the PIA to guarantee the country’s fuel supply security.

The development followed the recently issued import license by the NMDPRA to six Nigerian oil marketers to bring in over 600,000 metric tonnes of petrol into the country.

Since the 650,000 barrels-per-day refinery began supplying petroleum products to the local market, Dangote has repeatedly argued that continued issuance of fuel import licences to marketers undermines domestic refining, weakens investment incentives, and encourages dependence on imported products despite existing local capacity.

The refinery already handles 90 per cent of the domestic supply.

In the statement, the marketers maintained that the NMDPRA acted within its statutory powers in approving the licences, stressing that the regulator’s responsibility was to ensure uninterrupted product availability for Nigerian consumers and not to protect the commercial interests of any single refinery, regardless of its size.

The association stated that its members had invested billions of naira in petroleum depots, logistics systems, and compliance infrastructure based on the understanding that the licences granted to them were lawful, valid, and protected under the law.

According to the marketers, any attempt to retroactively void those approvals would create uncertainty across the downstream petroleum sector at a time when stability in fuel supply remains critical.

“The news that Dangote Petroleum Refinery has filed a fresh lawsuit seeking to set aside fuel import licences issued by the NMDPRA to marketers and the NNPC demands a clear response from this association.

“The import licences at the centre of this lawsuit are not administrative courtesies. They are the legal instruments through which Nigeria’s fuel supply chain functions. They were issued under a regulatory framework established by the Petroleum Industry Act, by an authority empowered to make exactly this kind of determination. The NMDPRA has consistently maintained, correctly, that these licences exist to protect supply security, not to disadvantage any single producer, however large.

“DAPPMAN’s member companies have invested billions of naira in depot infrastructure, logistics networks, and compliance systems on the basis that their operating licences are valid, lawful, and durable. A legal action designed to retroactively void those licences does not just affect individual businesses, it introduces uncertainty into the entire downstream supply chain at a moment when Nigeria can least afford it,” the association maintained.

It added that the NMDPRA had consistently defended the issuance of import permits as necessary tools for safeguarding national supply, insisting that the position had previously been upheld in court and should continue to stand.

DAPPMAN rejected what it described as the underlying argument that a private refinery’s commercial interests should supersede the statutory mandate of the regulator.

It further warned against any attempt to turn Nigeria’s downstream petroleum industry into a monopoly, arguing that the market had evolved over many years into a multi-player system serving millions of Nigerians daily.

The association disclosed that it would engage legal counsel, work with affected member companies, and make formal representations to the relevant authorities over the matter.

“We respect Dangote Petroleum Refinery’s right to pursue legal remedies. What we do not accept is the premise that a private refinery’s commercial interests should override a regulatory authority’s mandate to ensure adequate supply to Nigerian consumers.

“The PIA is clear: import licences may be issued where the regulator determines it necessary. That determination has been made. It has been defended in court before. It should be defended again.

“Nigeria’s fuel market is not a monopoly waiting to happen. It is a competitive, multi-participant market that has taken years to build and that serves millions of Nigerians every day. DAPPMAN will be engaging legal counsel, coordinating with affected member companies, and making formal representations to the relevant authorities on this matter,” the statement added.

The group argued that the strength of Nigeria’s downstream sector lies in the participation of multiple operators, warning that efforts aimed at shrinking the number of market participants would ultimately hurt consumers through reduced competition and supply vulnerabilities.

According to DAPPMAN, “A lawsuit that seeks to reduce that field of players is ultimately a lawsuit against Nigerian consumers,” adding, “Our members did not build this industry to watch it be argued out of existence in a courtroom,” emphasising its commitment to continually serve Nigerians.

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Lolu Akinwunmi, Iquo Ukoh to Co-chair 2026 CMO Circle

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By Modupe Gbadeyanka

The duo of Lolu Akinwunmi and Iquo Ukoh will co-chair the 2026 Chief Marketing Officers Circle (CMO Circle), slated for June 5, 2026, with the theme The C-Suite Mandate: Talent Density and Marketing Leadership.

The invitation-only forum for CMOs and senior marketing leaders will bring together the most influential voices in marketing to shape strategy at the highest levels of business and public policy.

As Co-Chairs, Akinwunmi and Ukoh will curate and lead high-level discussions focused on innovation, talent density, enterprise growth, and the expanding mandate of the CMO within the C-suite. Their stewardship reinforces the Circle’s role as a convening authority—one that not only reflects industry thinking but actively defines it.

Akinwunmi, Group CEO of Prima Garnet (Ogilvy Nigeria), brings decades of experience advising leading national and multinational brands, alongside a distinguished record of industry leadership.

Ukoh, Chief Executive Officer of Entod Marketing and former Director of Marketing Services at Nestlé Nigeria, is widely regarded for her leadership in brand strategy, consumer engagement, and cultural storytelling.

Convened by MarkHack in partnership with StatiSense and Brand Communicator, the CMO Circle operates at the intersection of enterprise leadership and national development. Beyond dialogue, the Circle institutionalises its influence through the quarterly CMO Index. This flagship publication aggregates executive sentiment, market intelligence, and forward-looking insights to inform policy conversations and economic decision-making. In doing so, the Circle positions marketing leadership as a critical voice in shaping Nigeria’s business environment and policy direction.

“The CMO Circle is intentionally designed as a premium, outcomes-driven platform—one that moves marketing leadership beyond the boardroom into the sphere of policy influence.

“With Iquo Ukoh and Lolu Akinwunmi as Co-Chairs, we are setting a clear tone of authority, depth, and relevance. Through the CMO Index and our quarterly convenings, the Circle will play a defining role in shaping both industry direction and policy dialogue,” the convener of CMO Circle, Mr Victor ’Gbenga Afolabi, stated.

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Court Grants El-Rufai N100m Bail in DSS Case 

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By Adedapo Adesanya

Justice Joyce Abdulmalik of the Federal High Court in Abuja has granted bail to former Kaduna State Governor, Mr Nasir El-Rufai, in the sum of N100 million with one surety in like sum.

Delivering the ruling, Justice Abdulmalik imposed a series of stringent conditions that the defendant must meet before perfecting the bail.

The court held that the proposed surety must reside in either the Maitama or Asokoro districts of Abuja and must deposit the original Certificate of Occupancy (C-of-O) of a landed property at the court registry.

The surety is also required to be a federal civil servant not below Grade Level 17 and must provide evidence of salary payments for at least three months, authenticated by a letter from the manager of a bank within the jurisdiction of the court.

The court further ordered the surety to depose to an affidavit of means, enter into a bail bond, and submit a recent passport photograph to the court registry.

As part of the bail conditions, Mr El-Rufai is to deposit all valid international passports with the court registry.

The court also directed that a verification letter from the surety’s immediate department be submitted, alongside a tax clearance certificate covering the last six months.

Justice Abdulmalik further ordered the defendant to report to the headquarters of the Department of State Services every last Friday of the month by 10 a.m. to sign an attendance register pending the determination of the case.

The judge warned that failure to comply with the conditions would lead to an automatic revocation of the bail.

The court additionally directed the defendant to submit a letter of attestation from the Chairman of the Kaduna Traditional Council.

This comes a month after a Kaduna Court granted bail to the former Minister in a corruption case filed by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) over charges related to alleged corruption and abuse of office during his tenure in the North-Western state from 2015 to 2023.

He was alleged to have abused his office and to have intended to commit fraud and confer undue advantage, which were alleged against the opposition politician.

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