General
UNHCR Seeks Additional $9.5m for Boko Haram Victims
By Dipo Olowookere
A supplementary appeal for an additional $9.5 million is needed to scale up activities in north-east Nigeria as a result of an unexpected surge in self-organized returns of Nigerian refugees since the beginning of the year, mainly from Cameroon, UNHCR, the UN Refugee Agency, has said.
Many returnees stay in camps and displacement sites in precarious and overcrowded conditions. The situation is particularly difficult in the town of Banki, in north-east Nigeria, where many are forced to live outdoors and have limited access to drinking water, food and medicine, an official of the agency disclosed.
“This is a new emergency, which requires urgent attention. Many of these returnees are unable to go back to their homes due to security concerns and end up being displaced again, in dire humanitarian conditions. Even if UNHCR does not promote or facilitate these returns, we must do everything we can to assist these vulnerable people,” said Volker Türk, UNHCR’s Assistant High Commissioner for Protection.
“During my recent visit to the region, I was not only appalled by the scale of the humanitarian needs, but also deeply shocked at the level of trauma, social division and distrust,” added Türk, who visited both Nigeria and Cameroon over the past three weeks.
“We urge the international community to pay more attention to this highly complex and challenging humanitarian and security situation,” he further disclosed.
As vulnerabilities increase over time, funding is, unfortunately, lagging behind needs. So far, UNHCR has received $41.1 million from donors out of a total funding requirement of $179.5 million for 2017 for Nigeria, Cameroon, Niger and Chad.
“The current funding for the relief effort does not do justice to the exceptional hospitality offered by host governments and communities,” said Valentin Tapsoba, Director of UNHCR’s Regional Bureau for Africa, during a donor briefing on the Nigeria situation on 24 July, 2017.
Additional funding would allow UNHCR to increase its presence in border locations and improve border and protection monitoring. The UN Refugee Agency also plans to expand reception facilities and launch mass information campaigns to ensure that Nigerian refugees in Cameroon’s Far North have accurate and updated information on the situation prevailing in areas of return in Nigeria.
“In my recent discussions with both Governments, I also stressed the need to set up a mechanism that can both address legitimate security concerns and the protection needs of refugees,” he added. “I received assurances that action had been taken to stop involuntary returns, an issue that has been of deep concern to UNHCR,” said Türk.
“The first meeting of the Tripartite Commission which is expected to take place early August will be a positive step forward,” he added. The Commission was set up after the signature, last March, of a tripartite agreement between UNHCR, Nigeria and Cameroon on voluntary repatriation of Nigerian refugees once conditions are conducive.
Between January and June 2017, nearly 135,000 refugees returned to Nigeria, mainly women and children. The majority left Minawao and Kolofata refugee settlements, in the Far North Region of Cameroon.
UNHCR is helping to respond to the needs of more than 2.5 million people who have become refugees, internally displaced or returnees across the Lake Chad region as a result of armed conflict.
By Adedapo Adesanya
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged the federal government to review the fuel import licences recently issued to some marketers, saying the policy is driving up fuel prices, putting pressure on foreign exchange and creating instability in the downstream petroleum sector.
Speaking in Abuja, IPMAN’s National Publicity Secretary, Mr Chinedu Ukadike, said the current import regime has not achieved its goal of making fuel more affordable. Instead, he argued that it has encouraged the importation of more expensive petrol while increasing the country’s dependence on foreign exchange.
According to Mr Ukadike, some importers plan to sell Premium Motor Spirit (PMS), also known as petrol, for about N1,350 per litre, which is higher than the ex-depot price offered by the Dangote Petroleum Refinery.
The IPMAN official questioned the need to import fuel at higher prices when locally refined products are available at lower costs, noting that the situation has made it difficult for independent marketers to plan their businesses because import costs continue to fluctuate.
Mr Ukadike also raised concerns about the quality of some imported fuel and called on regulators to ensure that only products that meet Nigeria’s standards are allowed into the country.
The association warned that continued fuel imports also increase demand for the US Dollar since importers pay for products in foreign currency. This, the association said, puts additional pressure on the naira and contributes to higher fuel prices.
The association stressed that Nigeria should focus on supporting local refining to improve energy security and reduce reliance on imported petroleum products.
It noted that the Dangote Petroleum Refinery has helped maintain steady fuel supply despite global disruptions, including tensions in the Middle East.
According to IPMAN, greater use of locally refined fuel would reduce FX demand, strengthen the refining industry, create jobs and improve economic stability. It also said producing enough fuel for local consumption while exporting excess output would help Nigeria earn more foreign exchange.
The association called on the federal government, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian National Petroleum Company (NNPC) Limited and the Presidential Committee on downstream reforms to engage stakeholders and adopt policies that support domestic refining.
IPMAN said strengthening local refining remains the best long-term solution for affordable fuel, stable supply and improved energy security in Nigeria.
By Adedapo Adesanya
The National Insurance Commission (NAICOM) has reiterated that the July 31, 2026, deadline for insurance companies to meet the new minimum capital requirements remains firm, warning operators against treating it as a mere formality.
The Commissioner for Insurance of NAICOM, Mr Olusegun Ayo Omosehin, who gave this warning, urged companies that have yet to meet the new minimum capital requirements to act with urgency.
Speaking on Friday at the investiture of Mr Akinjide Oluwarotimi-Orimolade as the 53rd President and Chairman of Council of the Chartered Insurance Institute of Nigeria (CIIN) in Lagos, Mr Omosehin said the recapitalisation exercise remained a critical pillar of the Commission’s ongoing reforms aimed at building a stronger, more resilient and consumer-focused insurance industry.
According to him, the new minimum capital requirement is designed to improve insurers’ claims-paying capacity, strengthen their balance sheets, support higher domestic risk retention and prepare the industry for a risk-based capital regime.
“With about 14 days to the July 31 deadline, we commend operators that have made significant progress in raising capital, engaging investors, strengthening governance and submitting for the Commission’s verification process.
“However, the deadline is not symbolic; it is regulatory, and the industry must treat it with the urgency it deserves,” he said.
The Commissioner assured stakeholders that the insurance sector regulator would maintain a transparent, fair and firm process, stressing that every operator must demonstrate financial soundness, regulatory compliance and operational readiness.
He added that stronger capitalisation must ultimately translate into better service delivery, prompt settlement of claims, improved consumer protection and greater public confidence in insurance.
Mr Omosehin noted that the Nigerian Insurance Industry Reform Act (NIIRA) 2025 has provided a stronger legal framework for a more resilient, better-governed and responsive insurance market, adding that NAICOM’s reform agenda is focused on market conduct, policyholder protection, governance, insurance penetration, financial inclusion and responsible innovation.
He described professionalism as the foundation of a trusted insurance market, saying the industry’s growth depends not only on adequate capital and effective regulation but also on ethics, competence, innovation and public confidence.
“The strength of insurance depends not only on capital and regulation but also on professionalism, ethics, innovation and public confidence. A trusted insurance market cannot be built on capital alone. It requires competent professionals, ethical institutions, credible advice and fair treatment of policyholders,” he stated.
By Bon Peters
About 29,645 litres of premium motor spirit (PMS), otherwise known as petrol, as well as industrial palm oil, edible palm oil and vegetable oil with a Duty Paid Value (DPV) of N26 million have been auctioned by the Eastern Marine Command of the Nigeria Customs Service (NCS).
The products were seized by the agency from some smugglers and auctioned on Thursday, July 16, 2026, at the Oron Outstation of the Command in Akwa Ibom State, in strict compliance with Section 119 of the Nigeria Customs Service (NCS) Act 2023.
It was gathered that the command auctioned 14,720 litres of petrol and 14,925 litres of industrial palm oil, edible palm oil and vegetable oil, according to a statement issued over the weekend in Port Harcourt, Rivers State, by the command’s spokesman, Mr Joshua Iliya, a Deputy Superintendent of Customs.
It was disclosed that the exercise aligned with the service’s statutory mandate to transparently dispose of seized, forfeited, and abandoned goods after all due legal processes have been completed.
The petrol had a DPV of N11.4 million, 14,200 litres of industrial palm oil with a DPV of N14.1 million, 600 litres of edible palm oil with a DPV of N840,000, and 125 litres of vegetable oil with a DPV of N141,000.
Declaring the auction open, the Acting Comptroller of the Eastern Marine Command, Mr Esien Etim Esiet, stated that the items were intercepted during successful anti-smuggling operations within the command’s jurisdiction, adding that the seizures followed direct violations of the NCS Act and other extant laws governing restricted goods.
“This exercise reflects our unwavering commitment to transparency, accountability, and the prudent management of government assets,” he stated, reiterating that, “Beyond the lawful disposal of goods, this auction serves as a stark reminder that smuggling is an economic crime.”
“It undermines national development, threatens local industries, and deprives the government of critical revenue,” he averred, commending the resilience and professionalism of the command’s officers for securing Nigeria’s maritime borders despite operating in challenging terrains.
The customs officer assured bidders that the process was structured to be fair, open, and legally compliant while offering equal opportunity to all eligible participants.
