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Rising Inflation Could Trigger Social Unrest in Nigeria—AfDB

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Social Unrest in Nigeria

By Adedapo Adesanya 

The African Development Bank (AfDB) has raised an alarm that rising prices of fuel, food, and other commodities could lead to social unrest in Nigeria.

The multilateral lender warned that Nigeria was not the sole country at the mercy of such upheaval, adding that Ethiopia, Angola, and Kenya were also placed on high alert.

The bank made this disclosure in its macroeconomic performance and outlook for 2024 in which it projected Africa’s economy to grow higher to 3.8 per cent in 2024, an increase compared to the 3.2 per cent recorded in 2023.

The AfDB also said economic growth on the continent will consolidate at 4.2 per cent in 2025.

However, the bank cautioned that an increase in fuel and commodity prices occasioned by currency depreciation or subsidy removal in Nigeria, Angola, Kenya and Ethiopia could trigger internal conflicts.

It stated, “Internal conflicts and violence could also result from rising prices for fuel and other commodities due to weaker domestic currencies and reforms.

“For instance, the removal of fuel subsidies in Angola, Ethiopia, Kenya, and Nigeria and the resulting social costs has led to social unrest driven by opposition to government policy,” the bank said.

AfDB warned that inflation in Africa has been increasing since the beginning of the COVID- 19 pandemic and remains stubbornly high, threatening macro economic stability.

Also, the AfDB said the rise of geopolitical tensions in Eastern Europe and the Middle East in addition to the El Nino phenomenon, may trigger supply chain disruptions, which could aggravate energy and food inflation across the world with Africa more vulnerable to these shocks.

Speaking on the report, the President of the Addis Ababa-based lender, Mr Akinwumi Adesina said despite rising uncertainty and geopolitical fragmentation, building resilience should remain a strategic priority for Africa.

“Africa’s projected higher growth reflects efforts by countries to diversify their economies and implement domestic policies to reverse the increase in living costs and boost private consumption. However, global risks and pockets of domestic imbalances pose challenges.

“Geopolitical tensions could disrupt supply chains and reig nite commodity price hikes. Inflationary pressures in Africa remain entrenched and have eroded people’s purchasing power and adversely affected livelihoods.

“Higher global interest rates and elevated capital costs have increased debt service payments. This
has constrained investment in growth-creating sectors and human capital development.”

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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ValueJet Blockage: K1 De Ultimate Begs Nigerians, Authorities for Forgiveness

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k1 de ultimate valuejet

By Modupe Gbadeyanka

Fuji maestro, Mr Wasiu Ayinde, fondly known as K1 De Ultimate, has apologised over the unfortunate incident involving him blocking a ValueJet aircraft taxing at the local wing of the Nnamdi Azikiwe International Airport, Abuja, on August 5, 2025.

The musician was seen in videos on the internet attempting to prevent the plane from taxing, an action described by the Minister of Aviation and Aerospace Development as “reprehensible.”

He said if the pilot and the co-pilot were punished by the Nigeria Civil Aviation Authority (NCAA) by revoking their licences; Mr Ayinde should also be sanctioned, directing he should be put on no fly list.

Earlier, the spokesman of the music act, Mr Kunle Rasheed, said Mr Ayinde was the victim of the incident, absolving him of any wrong-doing.

K1 De Ultimate was not allowed to be on the aircraft carrying passengers from Abuja to Lagos because he refused to give up his flask alleged to contain alcohol.

In a statement on Friday, the musician claimed the content in the flask was water, which he was advised by his doctor to take regularly because of a health issue.

“Unknown to many, I suffer from chronic dehydration, and my doctor strongly advised that I remain constantly hydrated. This is why I always carry a water flask with me. And contrary to the negative narrative being circulated in some quarters, the flask I carried on that particular day contained only water — not alcohol, as wrongly alleged.

“For the record, I passed through two security screenings with the flask empty. The flask was only filled with water at the lounge area, just before heading to the tarmac. This fact can be verified by the CCTV footage at the airport lounge. More so, I hadn’t even boarded the plane, let alone being deboarded.

“However, I acknowledge and deeply regret the concerns that arose from the incident. It was never my intention to cause any disruption or violate aviation protocols in any way.

“My unwavering patriotism and unshaken loyalty to the Federal Republic of Nigeria have never been in doubt. Over the years, I have consistently used my God-given talent and platform to promote the Nigerian brand across the globe. I would never do anything to tarnish the image I’ve built over the past five decades, nor would I knowingly act in a way that could diminish the reputation of the country I love so dearly.

“That said, the incident is sincerely regretted. I remain committed to upholding the values and responsibilities that come with being a global ambassador of Nigerian music and culture.

“To the Presidency, Ministry of Aviation, FAAN, NCAA, ValueJet, fellow Nigerians, and my teeming fans across the world who have shown great concern since the incident happened, I tender my unreserved and heartfelt apology,” he said in the statement.

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Komolafe Tasks Upstream Petroleum Operators on Decarbonisation

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Decarbonisation

By Adedapo Adesanya

The chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr Gbenga Komolafe, has called on operators to embed decarbonisation in field development, facility design, and production activities.

This was part of his message at the 48th Nigeria Annual International Conference and Exhibition on Monday, noting that the commission is driving the Upstream Oil and Gas Decarbonisation Blueprint, based on its seven pillars to attract investment and maintain competitiveness.

“We are optimising the Maximum Efficient Rate, managing produced water, and coordinating shutdowns to reduce disruptions,” he said, adding that, “We urge all operators to embed decarbonisation in field development, facility design, and production activities. Achieving a sustainable future requires trade-offs, collaboration, and innovation. NAICE discussions must become measurable outcomes.”

He said NUPRC was integrating advanced technologies in exploration and production, including decarbonisation and emission reduction strategies, noting, “Our role goes beyond regulatory compliance. We are committed to a stable and forward-looking upstream sector that balances energy security, environmental responsibility, and economic sustainability.”

According to him, technological transformation is reshaping exploration and production, and the Commission is encouraging both adaptation and approval of innovative solutions.

He added that NUPRC is using technology to enhance internal operations, improve service delivery, and reduce turnaround time.

He said: “These changes are not mere technical upgrades. They are part of a broader effort to entrench transparency, promote accountability, and reduce costs to drive industry growth.”

Mr Komolafe also said a resilient supply chain is vital for cutting lead times, lowering costs, and boosting national capacity, stating that the commission is fostering a regulatory environment supporting indigenous and international service providers.

“Our approach supports technology domestication, local manufacturing, and stronger supply chain resilience,” he said.

On workforce development, he emphasised that human capital is the industry’s greatest asset.

“We work with academic institutions and training organisations to promote excellence, close skill gaps, and prepare our workforce for a low-carbon future,” he said.

Highlighting progress since the Petroleum Industry Act (PIA) was enacted in 2021, Mr Komolafe said 21 key regulations have been gazetted so far.

“These regulations give clarity to investors, streamline administration, and align operations with national and global priorities,” he said.

Among them are the Upstream Petroleum Measurement Regulations, which promote accountability through real-time, technology-driven production measurement.

Also included are the Gas Flaring, Venting, and Methane Emissions Regulations, aimed at reducing emissions and embedding sustainability.

Beyond regulations, he said NUPRC is implementing core initiatives to accelerate industry development.

These include a recent stakeholders’ forum to develop strategies for cluster development in shallow and deepwater basins.

“Through collaboration, we aim to unlock stranded or marginal fields via joint development strategies,” he said.

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NCDMB Lauds EFCC for Outstanding Remittances Recovery

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NCDMB

By Adedapo Adesanya

The Nigerian Content Development and Monitoring Board (NCDMB) has lauded the Economic and Financial Crimes Commission (EFCC) for its role in recovering outstanding financial remittances due to the board from oil and gas industry operators.

The commendation came during a courtesy visit to the Port Harcourt Zonal Directorate of the EFCC by a delegation from the NCDMB, led by Mrs Maureen Obukofe, who represented the Executive Secretary, Mr Felix Omatsola Ogbe.

Mrs Obukofe recounted how the board had initiated a partnership with the EFCC in 2019 after discovering that many oil and gas operators were failing to remit the mandatory one per cent of every contract to the board, as stipulated by law.

“Over time, we realized that most of these operators were not remitting this one percent and we realized that there’s no agency well-equipped and statutorily empowered other than EFCC to help us recover these outstanding remittances,” Mrs Obukofe said.

“That was how this partnership was formed back in 2019 by the then Executive Secretary, and today, we are happy to note that the commission has recovered some monies on behalf of the Board, and I know they will still recover more. So, we’ve come to say thank you.”

She described the collaboration as pivotal in ensuring compliance with Nigerian content obligations in the oil and gas sector.

In response, the Acting Zonal Director of EFCC Port Harcourt, Mr Hassan Saidu, expressed surprise and gratitude at the gesture of appreciation from the board.

“Barrister Maureen, we are very grateful for your visit. In fact, if every organization will do what you have done, it will motivate us more,” Mr Saidu said, adding that, “I am lacking in words to describe this type of visit because it is kind of a rare visit, sending a delegation to appreciate what we have done.”

The EFCC director assured the NCDMB of the agency”s continued support in helping the board recover what is rightfully due to it and enforcing compliance within the oil and gas sector.

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