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PIB: Southern Governors Reject 3% for Host Communities

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Southern Governors

By Modupe Gbadeyanka

Governors of the 17 states in the southern part of Nigeria have rejected the 3 per cent share of oil revenue being proposed by the Senate to host communities in the Petroleum Industry Bill (PIB) passed last Thursday by the National Assembly.

At a meeting of the Southern Governors held on Monday in Lagos, they instead aligned with the 5 per cent proposed by the House of Representatives in the same bill.

The 3 per cent share has been generating controversies since last Thursday, with the people of the Niger Delta region describing the share as unjust and unfair.

They wondered why the Senate gave them a “mere” 3 per cent but proposed a 30 per cent share of profits for the exploration of oil and gas in areas the government is in search of the commodity. The Southern Governors Forum also shared their views as they also rejected the 30 per cent for basins.

In a communique issued at the end of their gathering, the Governors though commended the parliament for the “progress made in the passage of the PIB,” want the grey areas promptly addressed before the bill is transmitted to President Muhammadu Buhari for assent.

The Governor also kicked against the ownership structure of the proposed Nigeria National Petroleum Company Limited (NNPC).

According to them, the new company should not be vested in the Federal Ministry of Finance but be held in trust by the Nigeria Sovereign Investment Authority (NSIA) since all tiers of government have stakes in it.

On open grazing, which they rejected in their first meeting in Asaba, Delta State in May 2021, a timeline of Wednesday, September 1, 2021, was set for the promulgation of the anti-open grazing law in all member states.

As the 2023 general elections draw closer, the Governors unanimously agreed that for equity and fairness, the next president of Nigeria should emerge from the southern region, while they rejected the removal of the electronic transmission of the election results from the electoral act, arguing that this will not “consolidate our democracy and strengthen the electoral process.”

“They reaffirmed their commitment to the unity of Nigeria on the pillars of equity, fairness, justice, progress and peaceful co-existence between and amongst its people” and reemphasised the need for state police for the safety of citizens.

The Governors resolved that if for any reason security institutions need to undertake an operation in any state, the Chief Security Officer of the state must be duly informed, frowning at “selective criminal administration of justice and resolved that arrests should be made within the ambit of the law and fundamental human rights.”

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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NECA’s Annual Retreat for Business Managers, Executives Holds April 16

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NECA Adewale Smatt-Oyerinde

By Aduragbemi Omiyale

The annual retreat for business managers and executives organised by the Nigeria Employers’ Consultative Association (NECA) will take place from April 16 to 18, 2026, at the AAE & T Hotel, Kuto, Abeokuta, Ogun State.

This year’s edition is themed The Resilient Enterprise, People and Systems: Building and Managing Businesses that Outlive Seasons, Cycles and Crises.

The programme aims to equip leaders with the insights, tools, and networks required to build resilient organisations in an increasingly complex business environment.

It will provide a unique platform for executive-level engagement through high-level conversations, peer learning sessions with experienced leaders, strategy reflection workshops, and curated networking opportunities.

Expected to attend are industry leaders, senior executives, and business managers from across sectors. They will explore strategies for sustaining organisational performance through leadership transitions, economic cycles, regulatory shifts, and market disruptions.

Participants will also benefit from interactive discussions focused on strengthening corporate governance, developing agile leadership capabilities, and building organisational systems that can withstand periods of uncertainty and transformation.

A notice from NECA said the event is open to both members and non-members, with participation fees set at N300,000 for members and N320,000 for non-members. Discounts will also be available for Gold and Silver members, subject to applicable terms and conditions.

Interested participants are encouraged to register via the official registration link to secure their place at the retreat, which promises to deliver valuable insights and connections for executives seeking to build enterprises capable of thriving through seasons of change and uncertainty.

The Director-General of NECA, Mr Adewale Smatt-Oyerinde, noted that by convening business managers and senior executives in a collaborative learning environment, the association aims to contribute to the development of stronger, future-ready enterprises that can drive economic growth, create jobs, and support national development even in the face of evolving global and local challenges.

He added that the retreat will provide executives with the opportunity to step away from daily operational demands and engage in deeper strategic conversations with peers and industry experts.

“The theme of this year’s retreat speaks directly to the realities businesses face today. Across sectors, organisations are navigating leadership transitions, regulatory shifts, economic pressures, and technological disruption.

“What distinguishes enduring enterprises is their ability to build strong systems, develop capable leaders, and create organisational cultures that can adapt and respond effectively to change,” the NECA chief said.

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Egbin Power Commissions 80 New Staff Housing Units

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Egbin Power 80 New Staff Housing Units

By Modupe Gbadeyanka

In further demonstration of its unwavering commitment to its workforce, Nigeria’s foremost power generation company, Egbin Power Plc, has unveiled 80 new residential housing units for employees within its plant premises in Egbin, Lagos State.

This comprises 40 fully furnished three-bedroom apartments and 40 furnished studio apartments, all designed to contemporary standards.

The units feature modern infrastructure and thoughtfully planned utilities, creating a safe, comfortable, and conducive living environment that supports both employee productivity and family well-being.

This strategic investment underscores the company’s philosophy that a well-supported workforce is fundamental to sustained operational excellence.

The new housing units are part of a holistic strategy to cultivate a stable, motivated, and future-ready workforce.

This strategy extends beyond infrastructure to encompass robust career development and recognition. Over the past three years, Egbin Power has promoted 112 employees across various cadres, reinforcing a culture that rewards merit, performance, and long-term dedication

“At Egbin Power, our people are our most valuable asset. Even amidst the prevailing liquidity and operational realities within the broader power sector, our focus on employee welfare has remained deliberate and consistent.

“This significant expansion of our residential estate is a tangible expression of that commitment.

“It is one of several key initiatives aimed at ensuring our employees feel genuinely supported, allowing them to thrive both personally and professionally,” the chief executive of Egbin Power, Mr Mokhtar Bounour, said.

Initiated in 2025 and completed in January 2026, this project is the latest milestone in Egbin Power’s structured and ongoing approach to enhancing employee welfare. It reflects the energy firm’s dedication to fostering a culture where every team member feels valued, secure, and motivated.

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NGX Group, CSCS, WIMBIZ to Ring Bell for Gender Equality

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Ring Bell for Gender Equality

By Aduragbemi Omiyale

On Tuesday, March 10, 2026, at the Nigerian Exchange Group House in Lagos, the role of capital markets in promoting gender equality will be reemphasised through the closing gong ceremony in commemoration of International Women’s Day 2026.

The ceremony is part of the global Ring the Bell for Gender Equality campaign, which mobilises stock exchanges worldwide to expand women’s participation in the economy and advance gender-inclusive practices.

In Nigeria, the NGX Group is partnering with the Central Securities Clearing System (CSCS) Plc and Women in Management, Business and Public Service (WIMBIZ) to make it memorable under the theme Rights. Justice. Action. For ALL Women and Girls.

Dignitaries expected at the ceremony include the Minister of State for Foreign Affairs, Mrs Bianca Odumegwu-Ojukwu; the First Lady of Imo State, Mrs Chioma Uzodimma; the Executive Commissioner for Legal and Enforcement at the Securities and Exchange Commission (SEC), Ms Frana Chukwuogor; foremost actor, Ms Funke Akindele; a Director at the NGX Group, Ms Ojinnika Olaghere; and another staffer of NGX Group, Mrs Fatima Wali-Abdulrahman, alongside board members of NGX Group, regulators, capital market stakeholders, and industry leaders.

NGX Group is joining other exchanges worldwide in sounding the NGX Gong to underscore the importance of inclusive leadership, equal opportunities, and stronger market accountability in advancing gender equality.

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