General
SERAP Wants World Bank to Halt Loans to Nigeria
By Adedapo Adesanya
The Socio-Economic Rights and Accountability Project (SERAP) has written to the World Bank to suspend issuing loans to Nigeria’s 36 states over allegations of mismanaging public funds which may include loans obtained from the institution.
In the letter dated November 25, 2023, the group specifically wants the bank’s President, Mr Ajay Banga, “to promptly, transparently and effectively conduct an investigation into the spending of loans and other facilities by the country’s 36 state governors and to suspend any loans and funding if there is relevant admissible evidence of mismanagement or diversion of public funds by any of the states.”
It also asked the Bretton Wood institution to “suspend further applications for loans and any other funding to the 36 states until these states can satisfactorily explain details of spending of loans and other facilities obtained from the bank and its partners.”
This was disclosed in a statement on Sunday by SERAP deputy director, Mr Kolawole Oluwadare.
“The World Bank and its partners cannot continue to give loans and other funding to these states where there are credible allegations of mismanagement or diversion of public funds,” the statement read.
“We are concerned that there is a significant risk of mismanagement or diversion of funds linked to the bank’s investments in many of the country’s 36 states. It is neither appropriate nor responsible lending to give loans to these states only for the loans to be misspent.”
Citing data from Nigeria’s Debt Management Office (DMO), the group said the total public debt portfolio for the country’s 36 states and the Federal Capital Territory is N9.17 trillion. It also said the federal government’s total public debt portfolio is N78.2 trillion.
SERAP also urged the global lender’s chief to demand expressed commitment from Nigeria’s 36 governors to address credible allegations of mismanagement or diversion of public funds in their states.
Business Post found that Nigeria owes the International Development Association (IDA) about $14 billion and the International Bank for Reconstruction and Development (IBRD) about $485 million. Both are under the World Bank Group.
General
NSC Revamps PSSP to Solve Complaints, Boost Ease of Doing Business in Ports
By Adedapo Adesanya
The Nigerian Shippers’ Council (NSC) has successfully concluded the review of the Port Service Support Portal (PSSP) application, which is aimed at ensuring seamless handling and efficient resolution of stakeholders’ commercial disputes across the maritime sector.
The Head of NSC-ICT, Mr Benjamin Ivwigheghweta, and his team; the Head of the Complaints Unit, Mr Bashir Ambi and his team; as well as consultants from BrandOne, all collaborated to complete the platform’s final implementation stage.
Mr Ivwigheghweta expressed satisfaction with the successful integration of the revamped PSSP for streamlined dispute resolution. He encouraged the team to fully engage with the new system and to ask questions where necessary, ensuring that every member is well equipped to meet stakeholder needs with precision and efficiency.
On his part, Mr Ambi applauded the deployment of the PSSP as a tool for accelerating grievance resolution, adding that the platform would significantly strengthen the council’s dispute resolution framework by promoting transparency, boosting stakeholder confidence, and generating reliable, data-driven records to support national economic growth.
He further commended the ICT team for its unwavering support-particularly in ensuring extended network availability to support the Unit’s after-hours operations.
Describing the PSSP as a critical modern upgrade for dispute resolution, Mr Ambi revealed that the Council’s operations are now about 90 percent digital. “We rely heavily on electronic platforms to serve our stakeholders,” he said, adding that the ICT Unit has remained the backbone of these efforts by providing consistent support, even over weekends, to ensure uninterrupted online service delivery.
This digital-first approach, he noted, keeps the NSC at the forefront of maritime efficiency.
Following a productive three-hour technical review and interactive question and answer session, the PSSP is now in its final phase.
The next steps include the configuration of individual user access by the ICT Unit and a live demonstration of the platform to Management. Upon completion of these tasks, the council will be ready to go live-ushering in a new era of digital efficiency in port service delivery.
The Port Service Support Portal was officially launched by the former Vice President, Mr Yemi Osinbajo, in June 2016 in Abuja. The launch was held alongside the unveiling of the Port Harmonized Standard Operating Procedures (SOPs). The portal was designed as an online, real-time platform to enhance service delivery, address stakeholder complaints, and curb corruption at Nigerian ports.
General
Tinubu Deploys Army to Kwara, Condemns Terrorist Attack
By Adedapo Adesanya
President Bola Tinubu has deployed an army battalion to Kaiama district in Kwara State after suspected jihadist fighters killed about 170 people in an overnight attack on Tuesday.
The terrorists stormed Woro and Nuku communities in Kaiama Local Council, according to Kwara State lawmaker, Mr Saidu Ahmed.
The violence highlights fears that jihadist factions prevalent in Northern Nigeria are pushing south along the Niger-Kwara axis toward the Kainji forest.
According to a statement from the Presidency, the new military command will spearhead Operation Savannah Shield to checkmate the barbaric terrorists and protect defenceless communities.
He condemned the attack as “cowardly and barbaric,” saying the gunmen targeted villagers who had rejected attempts to impose extremist rule.
“It is commendable that community members, even though Muslims, refused to be conscripted into a belief that promotes violence over peace,” President Tinubu said in the statement.
The President urged collaboration between federal and state agencies to provide succour to members of the community and ensure that those who committed the atrocities do not go scot-free.
President Tinubu prayed for the repose of the souls of the deceased and condoled with those who lost family members as well as the people and government of Kwara State.
Similarly, suspected bandits stormed Doma community in Tafoki Ward, Katsina State, on Tuesday afternoon, killing several residents, injuring many others and setting vehicles and houses ablaze.
There were conflicting figures over the casualty toll, with police putting the number of deaths at 13, while the executive chairman of Faskari Local Council estimated more than 20.
General
NNPC, Chinese Firm in Talks over Nigeria’s Moribund Refineries
By Adedapo Adesanya
The Nigerian National Petroleum Company (NNPC) Limited is in talks with a Chinese company over one of the state-owned oil firm’s refineries, the chief executive of the state oil company, Mr Bashir Bayo Ojulari, said.
He said the company was seeking experienced operators as equity partners to revive its four refineries after years of losses and underperformance.
The NNPC chief said an internal review carried out shortly after assuming his role last April showed the refineries were running at huge losses, with high operating costs and heavy spending on contractors while processing volumes remained low.
Mr Ojulari said that the board of the state oil company has approved a strategy to bring in refinery operators with proven expertise rather than contractors, adding it was in advanced talks with several interested parties.
“I’m just coming from a meeting with one of the potential investors,” Mr Ojulari said, without giving a name. “They are going to the refinery tomorrow to inspect. It’s a Chinese company that has one of the biggest petrochemical plants in China.”
The NNPC head stated that operations in the refineries had been put on hold to give time to evaluate potential restoration solutions.
This coincided with the opening of the Dangote Refinery, which provided “breathing space” for the supply of domestic petroleum.
For the past two years, the NNPC has unsuccessfully attempted to fully reactivate the state oil refineries in Warri, Kaduna, and Port Harcourt, which have a combined processing capacity of 445,000 barrels per day but have remained idle for decades.
These endeavors to restore the facilities to operational status have resulted in both public controversy and shifts in strategic direction.
The government initially sought to rehabilitate these refineries, primarily in response to the commissioning of Dangote’s 650,000-barrel-per-day oil refinery; however, this effort proved unsuccessful, necessitating an exploration of potential public-private partnerships.
In October 2025, the NNPC announced its search for new technical private equity partners to facilitate the revival of its long-dormant refineries.
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