Petrol price hike looms as crude crosses $66/barrel

Excess Crude AccountThe pump prices of Premium Motor Spirit (petrol) and other refined petroleum products, including Automotive Gas Oil (diesel), and Household Kerosene, among others, may spike soon as crude oil, the major feedstock for refined fuel, crossed $66/barrel on Wednesday.

Brent, the global benchmark for crude, traded above $66 on Wednesday, as other oil grades also appreciated in price, heightening concerns that the cost of refined products might balloon in the coming days.

Industry players fingered the instability in Iran and Venezuela, coupled with the actions of the United States on Venezuela, and its recent threat to Iran. They noted that the cost of crude may continue to rise unless there is stability in these two nations that produce large volumes of the commodity.

Oil marketers projected that crude oil prices may reach $80/barrel, following the uncertainties in the international market. Crude is the major feedstock for the production of refined petroleum products. The foreign exchange rate is another factor that mainly affects the cost of imported fuel

The National President of the Petroleum Products Retail Outlets Owners Association of Nigeria, Billy Gillis-Harry, confirmed these developments in the sector while speaking with The PUNCH on Wednesday, as he noted that fuel consumers should brace for imminent price hikes.

“It is simple economics, crude oil is the main feedstock for refined petroleum products, so as the price of crude oil grows, the costs of these refined products are bound to rise. We have only one major refiner in Nigeria currently, and no one can certainly say whether the plant will retain its prices amid the spike in crude.

“Imported petrol will, of course, rise, and the same is expected of domestically produced PMS. The instability in Iran and Venezuela is definitely playing out. Even if the US decides to sell the crude produced from Venezuela at a reduced cost, it may not bring down the global crude oil prices.

“So, as fuel consumers, we should brace for hikes in the cost of refined products. It may not be now, but a sustained hike in crude oil prices would definitely lead to a spike in the costs of refined products domestically,” Gillis-Harry stated.

He noted that the instability in the Middle East may force the price of crude to hit $80 before the end of the month, adding that this may bring more FX to the Federal Government, but would raise the pump prices of refined products.

“There is apprehension that the price of crude doesn’t cross $80/barrel before the end of the month, because with the way things are going, and the seeming daily increases in crude oil price lately, the cost might get to that.

“Of course, the government would make more foreign exchange earnings as a result of this, but this will mean higher prices of refined petroleum products, and the masses would have to bear the brunt. This is the situation in the oil and gas sector right now,” Gillis-Harry explained.

The global oil industry has experienced several developments that pushed oil prices above the $60/barrel level at which it traded about a month ago. On Wednesday, The PUNCH reported that global oil prices surged on Tuesday as markets reacted to escalating drone attacks on Russia’s Novorossiysk terminal, which handles about two per cent of global daily oil supply, according to a report by Oilprice.com.

The report stated that Brent crude rose from $63 per barrel on Monday to trade around $65.14 on Tuesday evening, while US West Texas Intermediate climbed to $60.75, up from $59, representing a gain of about $2.1 per barrel.

The spike followed reported disruptions at the Caspian Pipeline Consortium infrastructure, a key export route for Kazakhstan’s crude oil operated by Western oil majors, including Chevron and Shell, raising concerns of a potential supply squeeze.

Reuters reported that two oil tankers waiting to load crude from some of Kazakhstan’s largest oilfields were hit by drones at the CPC marine terminal near Novorossiysk on Russia’s Black Sea coast.

As crude maintains the recent spike in price, data from the Major Energies Marketers Association of Nigeria on Wednesday indicated that the landing cost of imported petrol has remained stuck at rates above the ex-depot price of N699/litre of the Dangote Petroleum Refinery.

MEMAN disclosed in its bulletin that the landing cost of petrol dropped to N754.96 on Wednesday, from N758 last week. The association noted that Dangote’s gantry price was still N699 per litre, representing a difference of about N44.

But oil marketers stated that the prices of both domestically produced fuel and imported fuel would rise in the coming days if crude oil continues to spike in price. According to them, the government has to work hard to get Nigeria’s refineries under the management of the Nigerian National Petroleum Company Limited, working

Wole Oluyede vows to appeal PDP primary nullification in Ekiti

The winner of the Peoples Democratic Party, PDP, governorship primary in Ekiti State, Dr Wole Oluyede, has confirmed plans to appeal the Federal High Court’s nullification of the exercise, describing the ruling as unjust and procedurally flawed.

Through his lawyer, Owoseni Ajayi, Oluyede stated that an appeal will be filed promptly, along with a request for a stay of execution, to prevent the immediate conduct of a fresh primary.

He emphasised his determination to exhaust all legal avenues to have his candidacy recognised and his name restored to the list of eligible governorship candidates for the June 20, 2026 election.

The appeal comes after the Ado Ekiti Division of the Federal High Court, on Tuesday, invalidated the PDP primaries held on November 8, 2025.

Justice Babs Kuewumi ruled in favour of an aspirant, Funso Ayeni, who challenged the primary on the grounds that the party failed to present an authentic list of statutory and ad hoc delegates used in the exercise.

In his judgment, Justice Kuewumi ordered the PDP, in collaboration with the Independent National Electoral Commission, INEC, to conduct a fresh primary in strict compliance with the law and the party’s constitution, allowing all eligible aspirants to participate.

While the court’s decision forms the legal basis for a new primary, Oluyede insisted that the ruling does not reflect the fairness and legality of the original exercise.

He argued that his victory at the primaries was legitimate and that the nullification undermines both internal democracy and the rights of party members.

Oluyede had earlier been excluded from INEC’s official list of governorship candidates published on December 29, 2025, a development he has vowed to contest vigorously.

“We will ensure that justice prevails and that Dr Oluyede’s rightful position as PDP’s governorship candidate is restored ahead of the 2026 election,” Ajayi said.

2027: Showdown in Abia as ex-govs regroup against Otti   ​

Ahead of the 2027 general election, there’s rising political tension in Abia State, with some opposition leaders in the State hell-bent on stopping Governor Alex Otti’s re-election.

The opposition figures, many of whom previously held power in the state, have threatened that Otti will not be reelected for a second term as governor in 2027.

These figures also have been holding political meetings and issuing public statements against Otti’s administration.

DAILY POST recalls that last week, two former Governors of Abia State, Senator Orji Uzor Kalu and Chief Theodore Ahamefule Orji, alongside other former political leaders, said they have formed an alliance to unseat Governor Otti in the 2027 general election.

According to them, they intend to win all elective positions in Abia for the All Progressives Congress, APC.

The duo met in Umuahia and resolved to forge a common front they christened, ‘The Team,’ a platform for their political battle against Otti and other anti-APC interests.

In addition, the group signalled that it will institute a legal action against Otti for allegedly running Abia from his Nvosi country home instead of the Government House, Umuahia.

Kalu described the assembly as a platform for experienced leaders who want to reclaim their relevance in the state’s political landscape.

The Abia north senator rejected narratives portraying previous governments as ineffective, insisting that their legacies live on.

The former Abia governor said: “Leadership is a relay. I handed over to Senator T.A. Orji, who handed over to Okezie Ikpeazu. No single individual can claim we achieved nothing. If we did nothing, where would our people be today?”

Otti hasn’t done better, he’s repainting roads – Kalu 

While addressing journalists recently, Senator Kalu accused governor Otti of not doing much with the allocation the state is getting from the federal government.

He claimed that the governor was only repainting roads he (Kalu) built during his time as the state governor.

Kalu said he won’t work for Ottis’ reelection in 2027 even though he delivered for Otti in the last gubernatorial election in 2023.

He said: “I consider the Governor as my friend. And two years, I’ve never criticized. I never said anything, and they shot the first salvo. I replied by telling them that I will work for APC to win.

“We worked for him to have won 2023. We are not going to do that again. What is wrong with that? Is that why I should receive insults? It is not acceptable to me. I’m going to work for my party.

“If he has done better, I don’t know about that, because you can see that what I did in two years as a governor, the records are there for you to see. The money Otti receives in four months is what I received in eight years. That is the truth.

“He is just repainting and rebuilding the roads I built as a governor from 1999 and 2007. I’ve not seen any new major roads taking place.

“I’m in the Senate, and all the roads I’m doing in communities are brand new farmland roads.”

Opposition chasing shadows – Otti’s aide

Meanwhile, an aide to Governor Alex Otti, Rev. Fr. Christian Anokwuru, said the opposition plotting to unseat the governor in 2027 is merely chasing shadows.

Anokwuru, who is Special Adviser to the Governor on Policies and Interventions, said this recently during a news briefing in Umuahia, the state capital.

He was reacting to the spate of criticisms and media attacks against the governor by the leading opposition chieftains.

He entitled his speech, “Abia Opposition: Stop Tinubu Name-Dropping and Face the Fact!”

He said it was absurd for the old political leaders that allegedly ruined and underdeveloped the state to think they would return to power, riding on President Bola Tinubu’s might.

He mocked them for dropping the president’s name and banking on his achievements, rather than citing the legacies they left behind during their time as governors.

He said: “It is a long-established principle in both law and public life that anyone who demands equity must come with clean hands.

“This principle is particularly relevant in the current political climate in Abia state.

“When former executive governors and past political office holders, whose administrations are still fresh in the collective memory of the people, congregate to challenge the present administration of Alex Otti, the public is entitled to interrogate not just their claims, but also their credibility,” he said.

They are ganging up against Otti — Analyst

Speaking about the matter, a public affairs analyst and communication expert at Peaceland University, Enugu, Nduka Odo, said the growing opposition against Abia State Governor, Alex Otti, by former governors is driven largely by the protection of entrenched political and economic interests.

In an interview with DAILY POST, Odo described the development as unsurprising, noting that former governors Orji Uzor Kalu, Theodore Orji and Okezie Ikpeazu share a long-standing political lineage that ensured a smooth transition of power from one administration to another.

According to him, Otti’s emergence marked a departure from that pattern, as he came to office without the backing of his predecessor.

Odo argued that the former governors’ alliance against Otti is less about party politics or the welfare of Abia people, and more about personal interests threatened by the current administration’s policies.

He pointed out that under Otti, Abia became one of the few states to abolish the payment of salaries and allowances to former governors and their deputies, a benefit still enjoyed by ex-governors in many states across the country.

Odo said: “What’s happening in Abia state is not unexpected. Don’t blame the former governors who have vowed to unseat the incumbent governor. They are protecting their interests. And you can’t chastise a man for protecting their sources of livelihood. Kalu, Orji, and Ikpeazu all came from the same lineage. It was a smooth movement from one to the other. That’s unlike Otti, who emerged without the support of his predecessor.

“Why are the former governors teaming up against Otti? The answer is simple. They may say that it’s for the interest of the APC. They may say it’s for Abia people.

“Let’s go back a bit in time to fish out the answer. Under Alex Otti, Abia became one of the few states in Nigeria that stopped salaries and allowances for former governors and their deputies.

“This meant that in most states today, all former governors and their deputies collect the same salaries and allowances as the sitting executives.

“Isn’t this enough reason for them to team up against him? They can say he only paints roads. But Abia people are the right group to answer that question.

“So, I’m happy about what is happening in Abia. Any time you see all politicians in a state work together, trust me, development in that state will suffer.

“This attack from the former leaders on the incumbent will remind Otti that he still needs to do more. If wants the people to continue being by his side, he needs to continue tackling the needs of his people.”

Ex-Govs’ criticism means nothing — CRRAN President

Similarly, the President of the Civil Rights Realisation and Advancement Network, CRRAN, Olu Omotayo, said Abia State Governor, Alex Otti, is delivering tangible development that is evident to the people, irrespective of criticisms from former governors.

Omotayo stated this in a chat with DAILY POST, where he argued that past administrations in many South-East states governed for themselves rather than for the people, a situation he said resulted in widespread underdevelopment across the region.

According to him, genuine development does not require constant government propaganda, stressing that it is the people who should testify to projects that directly affect their lives.

Omotayo noted that under Otti’s administration, residents of Abia State have openly acknowledged improvements in infrastructure and governance, which he described as the true measure of performance.

The CRRAN president dismissed criticisms from former governors, arguing that a comparison between their years in office and Otti’s achievements shows a clear difference in performance.

Omotayo, however, expressed concern over the impact of the nation’s economic hardship on voters’ behaviour, warning that widespread poverty could still influence electoral outcomes.

He said: “In the past, the people who have governed most of the southeast states believed that the government is for them but not for the people. This is because there is no development in most of the southeast states.

“When you are talking of development, you don’t need people in government to be telling you that there is development. ‘We are doing this, we are doing that.’

“It is the people that will be talking that this governor is doing this. He is doing road. They have done road to my village. They have done this.”

“So Alex Ottis’ government, you can see that people are pointing out that he has done this, he has done that. That implies there is development. We are not talking about parties. Are the people getting the dividend of democracy?

“We are not talking about the party. Is the man working? The populace are saying, yes, he has done this. He has done that. That’s the measurement of whether we have good governance.

“So what the man is doing over there is excellent. He’s investing in a lot of abandoned projects that have been abandoned in that state. It’s not just propaganda from the people who are with the governor.

“Irrespective of what the past governors in that state are saying, it doesn’t mean anything.

“Compare what they did in the past with what Otti is doing, it shows that what he has done surpasses what those people who are ganging up against him did in over 16 years of their time in that state.

“Everybody is seeing that. You don’t need any commissioner for information or any of the Governor’s state officials to be propagating that Governor has done this or that. It is the people that are saying this man has done well.

“The only thing is that, you know, because of the economy of the country, they have weaponized poverty. The economic power of people is very low.

“What I see is that people appreciate that a government is doing well. The only thing is that maybe during the election, maybe, if they give them money, they might, because of the poverty level, sell their vote,” he added.

They’re acting out of self-interest — Rights Group Convener

On his part, the Project Manager of Advocacy Partnership for Good Governance and Convener of the Office of the Citizens, Onyebuchi Igboke, questioned the basis of opposition against Abia State Governor, Alex Otti, describing it as a struggle between performance-driven governance and patronage politics.

Igboke told DAILY POST that Nigerian politics often rewards mediocrity and loyalty rather than measurable performance.

According to him, Otti represents a clear departure from that tradition, stressing that the governor’s achievements are visible and acknowledged even beyond Abia State.

Igboke further stated that Otti’s accomplishments in just over two years surpass what former governors Orji Uzor Kalu, Theodore Orji and Okezie Ikpeazu achieved during their combined 24 years in office.

The good governance advocate also suggested that some of the actions of the former governors may be motivated by personal interests, including the pursuit of political relevance, appointments and financial benefits at the federal level.

Igboke maintained that attempts to intimidate or discredit the incumbent governor would not succeed, insisting that Otti’s record in office remains his strongest defence.

He said: “I think any right thinking person will begin to wonder if we are celebrating mediocrity, or we are celebrating performance. Is politics of Nigeria based on performance, or is it based on patronage and eye service?

“These are two different dimensions. Because I think what Alex Otti represents is performance, even people that are not living in Abia State can attest to the tremendous job, you know, that is being carried out by the Governor.

“The masses are happy with him. His projects are visible. His performance within two years plus outweighs the 24 years of Orji Kalu, Theodore Orji, and Okezie Ikpeazu.

“I don’t know the moral basis or the performance index they are using to have that audacity.

“Some people have the opinion that what they are doing is just to get some financial benefit and other appointments from President Bola Tinubu.

“They know what they are doing deep inside them, they know. Their pursuit is self-serving.

“Orji Kalu just recently got his daughter nominated as ambassador. And we know that they have some corruption allegations against him, and some people felt that this is the only way he can do eye service.

“Any person trying to, you know, use any form of intimidation or what have you, he’s just wasting his time. That is it.”

No going back – Health workers insist on continuing strike

The Joint Health Sector Unions and Assembly of Health Care Professionals, JOHESU, has insisted on continuing its indefinite national strike in spite of the Federal Government’s ‘no work, no pay’ policy.

This is contained in a memo signed by the National Secretary of the union, Mr Martin Egbanubi, and addressed to presidents, general secretaries, and state chairmen of affiliate unions on Tuesday in Abuja.

According to the union, the decision follows resolutions reached by its national leadership at an emergency virtual meeting held on Jan. 12 to review developments surrounding the industrial action.

It recalled that the Federal Government recently directed the implementation of the ‘no work, no pay’ policy and the stoppage of JOHESU members’ salaries through the Accountant-General of the Federation’s office.

The strike, JOHESU said, stemmed from its long-standing demand for the implementation of the adjusted Consolidated Health Salary Structure, CONHESS, and other welfare-related issues.

The union stated that its national leadership reviewed reports from affiliates and congresses to assess the status of the strike nationwide.

It also reacted to a memo from the Federal Ministry of Health and Social Welfare directing chief medical directors and managing directors to enforce the policy.

JOHESU described the ‘no work, no pay’ policy as a common tool used to pressure workers when government delays the resolution of labour disputes.

The union said it had complied with all procedures outlined in the Trade Disputes Act before embarking on the industrial action.

It said that the action qualified as a lawful dispute of rights, and not a breach of industrial relations laws.

JOHESU urged members not to be discouraged, and called for sustained solidarity and commitment to the struggle.

The union said it would intensify monitoring, picketing, and media engagement while exploring strategies to achieve its demands.

Kebbi govt reopens Maga girls’ school months after deadly abduction

Kebbi State Government has reopened the Government Girls’ Comprehensive Secondary School, Maga, months after a deadly bandit attack in which 25 schoolgirls were abducted and the school’s vice principal was killed.

The mass abduction occurred in the early hours of Monday, November 17, 2025, when armed gunmen stormed the boarding school in Maga, Danko/Wasagu Local Government Area of the state.

The assailants killed the school’s Vice Principal, Malam Hassan Yakubu Makuku, during the raid and abducted 25 students from their dormitory.

the abducted schoolgirls escaped on the day of the attack, while the remaining 24 were rescued on November 25, 2025, and reunited with their families following search and rescue operations by security forces.

In a statement issued on Tuesday, the Kebbi State Commissioner for Basic and Secondary Education, Dr Halima Bande, said confidence had been restored among parents, students and school officials through counselling and the deployment of security personnel, paving the way for the resumption of academic activities.

“The abducted students have been rescued, and confidence has been restored through counselling and the presence of security personnel.

This has paved the way for the resumption of academic activities at Government Girls’ Comprehensive Secondary School, Maga,” she said.

Dr Bande said the reopening followed a security meeting with principals and heads of secondary schools held in Birnin Kebbi.

She disclosed that Governor Nasir Idris had directed the deployment of additional security measures to ensure the safety of students and staff across public schools in the state.

The commissioner said the government had rolled out security awareness programmes for school principals and personnel, noting that similar sensitisation sessions had been conducted in Zuru, Yauri, Jega, Bunza and Argungu, with the Birnin Kebbi meeting marking the final phase.

Bande emphasised that safeguarding schools is a collective responsibility, urging administrators, teachers and students to remain vigilant.

She also advised school leaders to strengthen collaboration with host communities and security agencies as part of proactive safety strategies.

The commissioner commended the Nigeria Police Force, the Nigeria Security and Civil Defence Corps, NSCDC, and the Department of State Services, DSS, for their role in sensitising school administrators on security awareness and preventive measures.

AAU: Police release first set of AAU students to Edo govt

Edo State Police Command has released the first set of Ambrose Ali University, AAU, students.

The students, who were arrested over a protest were released to the Edo State Commissioner for Education, Paddy Iyamu on Monday evening.

Addressing journalists in Benin City, Iyamu said those released were found to be innocent.

According to the commissioner, some of the students took advantage of the protest to loot and maim.

He said: “One thing everybody needs to understand is that the governor of Edo State is the governor of everybody.

“Some persons that tagged themselves as students went on rampage and from protest it turned out to be a riot, stealing and maiming people, going into the palace of the King to steal his wife’s weavon and stealing Indomie. That is no longer a protest

“People should understand that those same people are part of Edo State and they will cry to the governor and of course, he is saddled with the responsibility of securing their lives and properties.

“The police did their job, carried out the raid and at the same end of the day, those not culpable should be released. That’s the instruction of the governor and that is what we are doing.

“Some people should learn to know that when there are issues we should look at them holistically. If someone calls himself a student and kills somebody, you should be brought to book.”

Nigerian govt launches Lagos gold refinery, prepares $600m lithium processing plant

The Minister of Solid Minerals Development, Dr. Dele Alake, on Tuesday emphasized that the establishment of lithium processing and gold refining facilities across Nigeria is positioning the country as a leading minerals hub in Africa and a key global partner in minerals essential for the transition to green energy.

Dr. Alake made the disclosure during a meeting with the Saudi Arabian Minister of Industry and Mineral Resources, Mr. Ibrahim Al-Khorayef, ahead of the Future Minerals Forum, FMF, in Riyadh, Saudi Arabia.

According to the minister, Nigeria’s value-addition policy is already producing concrete outcomes. He revealed that a high-purity gold refinery is now operational in Lagos, with three additional refineries at various stages of development, while a $600 million lithium processing plant in Nasarawa State is ready for commissioning.

Dr. Alake commended Saudi Arabia for its role in promoting collaboration among governments across Africa, the Middle East, Asia, and Europe through the FMF. He expressed Nigeria’s eagerness to deepen its partnership with the Kingdom, leveraging each nation’s comparative strengths in solid minerals development.

“There are areas where Saudi Arabia excels and others where Nigeria has advantages,” Dr. Alake said.

“We are keen to structure agreements that foster meaningful and constructive engagement. Key focus areas include capacity building, training of mining professionals, technology transfer, and exploration, where Saudi Arabia has demonstrated expertise,” he added.

He further highlighted Nigeria’s vast mineral wealth, including critical minerals and rare earth elements vital to the global economy. He stressed the importance of using the FMF platform to establish actionable partnerships grounded in fairness, equity, and mutual benefit.

Reflecting on engagements following the 2025 FMF, Dr. Alake disclosed that a joint working group comprising Nigerian officials and the Saudi Chamber of Commerce has been active over the past year. The group’s report is ready and is expected to be presented before the conclusion of the current forum.

The minister also underlined the need for collaboration on mineral traceability, Environmental, Social and Governance, ESG, standards, and mine-pit remediation.

He explained that traceability strengthens investor confidence and should be a core feature of any partnership, alongside clearly defined implementation timelines and effective monitoring and evaluation mechanisms.

In response, Minister Al-Khorayef reaffirmed Saudi Arabia’s longstanding partnership with Nigeria and highlighted the importance of developing a practical and actionable agreement on solid minerals development.

He proposed that the working group draft a memorandum of understanding based on prior engagements, with a view to signing it on the sidelines of the FMF.

He also encouraged Nigeria to showcase investment opportunities in its mining sector to Saudi investors and urged African nations to adopt advanced mining technologies, noting that Nigeria could benefit significantly from Saudi Arabia’s experience and progress in this field.

FG enforces 0.5% levy on fuel wholesalers

NMDPRAThe Federal Government has tightened regulatory pressure on fuel suppliers and their wholesale customers in the downstream petroleum sector with the enforcement of the 0.5 per cent levy on the wholesale price of petroleum products and natural gas, as provided in the recently published Midstream and Downstream Petroleum Operations Regulations, 2025.

Under the new regulations, suppliers of petroleum products are mandated to collect and remit the levy at wholesale points, making compliance a condition tied directly to licensing and continued operation in the sector.

Section 47 of the Petroleum Industry Act stipulates that the NMDPRA shall maintain a fund (in this act referred to as “the Authority Fund”) into which money accruing to the commission shall be paid.

The source of the Authority Fund shall, among others, be “0.5 per cent of the wholesale price of petroleum products sold in Nigeria, which shall be collected from wholesale customers.”

The PUNCH recalls that in December 2024, fuel traders and the NMDPRA expressed diverse opinions over who should collect the 0.5 per cent wholesale price levy imposed on petroleum products by the PIA.

While the NMDPRA said the traders should collect the levy and remit it into its accounts, the players asked the regulator to be the collector to avoid adding more burden to them.

At a sensitisation meeting in Lagos, stakeholders under the Oil Producers Trade Section stressed that there was nowhere it was stated in the PIA that they should be levy collectors for the government, calling on the regulator to assume that responsibility or put the responsibility on the wholesale customers.

There were arguments about whether the levy should be charged separately, as is done with the Value Added Tax. But the regulator emphasised that the phrase ‘0.5 per cent of’ was used in the PIA instead of ‘0.5 per cent on’, saying the levy should be deducted from the wholesale price, being 0.5 per cent of it.

For clarity, the NMDPRA, in its operations regulations, emphasised that the levy would be collected by suppliers from their wholesale customers for imported or locally refined petroleum products and sold in Nigeria.

“There shall be paid to the Authority Fund 0.5 per cent of the wholesale price of petroleum products sold in Nigeria, which shall be collected from wholesale customers by a supplier at wholesale points for imported petroleum products sold in Nigeria and petroleum products produced, processed, refined, and sold in Nigeria,” the NMDPRA declared.

Aside from the Authority Fund, operators are also expected to pay another 0.5 per cent of the wholesale price of petroleum products and natural gas sold in Nigeria to the Midstream and Downstream Gas Infrastructure Fund.

“There shall be paid to the Midstream and Downstream Gas Infrastructure Fund 0.5 per cent of the wholesale price of petroleum products and natural gas sold in Nigeria, which shall be collected from wholesale customers by a supplier at wholesale points for imported petroleum products sold in Nigeria and natural gas sold in Nigeria and petroleum products produced, processed, refined and sold in Nigeria,” the regulator stated.

It stressed that the levies in the subregulations shall, in accordance with the PIA, form part of the wholesale price of petroleum products and natural gas sold in Nigeria.

“The levy in subregulation (1) of this regulation shall be due immediately upon the sale of petroleum products and shall be remitted by the supplier to the Authority Fund not later than the 21st day following the month of the sale, or as may be directed by the Authority.

“The levy in subregulation (2) of this regulation shall be due within 21 days of the sale of petroleum products and natural gas sold in Nigeria and shall be remitted by the supplier to the Midstream and Downstream Gas Infrastructure Fund not later than the 21st day following the month of the sale, or as may be directed by the Authority.

“The levies in subregulations (1) and (2) of this regulation shall be included in purchase agreements, invoices, receipts and any other document between a supplier and wholesale customer evidencing the sale of petroleum products or natural gas,” it was stated.

The NMDPRA added that the supplier shall, not later than the 30th day of each month, submit to it a report which shall comprise the volumes, price and names of the wholesale customer and a copy of the purchase agreements, invoices, receipts, and any other document between a supplier and wholesale customer evidencing the sale of petroleum products or natural gas.

“The Authority shall, upon confirmation of payment of the levies, issue a receipt to the supplier, who shall, in turn, provide the wholesale customer with a copy of the receipt.

“The Authority shall monitor wholesale points for the issuance of certificates of quantity and quality and the reconciliation of petroleum products or natural gas sold,” it explained.

The regulator threatened to sanction any operator who fails to comply with the directives.

“Where the supplier of petroleum products or natural gas fails to remit the levies to the Authority Fund or Midstream and Downstream Gas Infrastructure Fund as prescribed in these regulations, the supplier shall, in addition to the amount not remitted, be liable to an administrative penalty equal to 10 per cent of the amount unpaid for each month or part of it after the date on which payment became due,” it warned.

In addition to the penalty specified in subregulation (10) of the regulation, the NMDPRA threatened that it may suspend the licence of the supplier of petroleum products or natural gas until the levies and penalty are paid or suspend the operations of the facility into which the petroleum product or natural gas was processed, discharged, or stored until the levies and penalty are paid.

SAHCO seals fresh deals, expands airline portfolio

Skyway Aviation Handling Company PlcSkyway Aviation Handling Company Plc has consolidated its position as one of Nigeria’s leading ground handling companies, recording a strong mix of commercial growth, safety achievements and industry recognition in 2025.

In a statement made available to The PUNCH by the company’s publicist, Vanessa Uansohia, on Friday, the company announced that it onboarded new airline customers during the year, cutting across domestic, regional, and international operations.

According to the firm, the newly signed carriers include Ethiopian Airlines, Air Tanzania and Air Algérie, alongside ValueJet Airlines and United Nigeria Airlines, whose regional operations were added to their existing domestic services.

Other airlines that commenced handling operations with SAHCO in 2025 include Pioneer Airlines, Binani Airlines and ExeJet/Enugu Air.

The company said it also expanded its international footprint by handling Air Peace’s long-haul operations to Antigua and Barbados.

In the area of safety and quality assurance, SAHCO recorded milestones with the successful renewal of its International Air Transport Association Safety Audit for Ground Operations certification.

The ISAGO certification is regarded globally as a key benchmark for safety and operational excellence in ground handling.

The company further confirmed that its Regulated Agent certification remains valid until 2027, underscoring its continued compliance with international aviation security standards.

The statement read, “SAHCO renewed its Institute of Safety Professionals of Nigeria certification and its Quality Management System certification in 2025, reinforcing its commitment to structured processes, safety culture and risk management.

“Human capital development also featured prominently in the company’s activities during the year. Our Training School Authorisation was renewed, enabling it to continue training aviation professionals to industry standards. Plans are underway to expand the training school and enhance its curriculum in 2026, in line with global best practices and emerging industry requirements.”

SAHCO says its performance in 2025 attracted multiple awards and recognitions from both local and international bodies. These include the Federal Airports Authority of Nigeria Safety Excellence Award and the Aircraft Handling Service Achievement Award from the Nigerian Aviation Ground Handling Association.

“We were also named Aviation Service Provider of the Year by the Nigerian Institute of Transport Technology and Best Ground Support Service Company of the Year at the Nigeria International Air Show. In addition, SAHCO received the Ground Support Equipment Certification of Recognition from IATA,” it further stated.

Internationally, British Airways recognised SAHCO’s Abuja Station with a Bronze Award and its Lagos Station with a Gold Award for outstanding punctuality and safety performance across the Middle East, Africa and Asia Pacific regions.

Looking ahead, SAHCO outlined a growth-focused strategy for 2026, with emphasis on operational excellence, revenue expansion and business diversification. Key priorities include expanding cargo handling services, strengthening partnerships with state-owned airports, pursuing additional industry and international certifications, and deepening engagement with airline partners across markets.

These initiatives are anchored on the company’s 4Ps Strategy for 2026, which are People, Process, Performance and Platform, “designed to build a skilled workforce, standardise operations, leverage data-driven performance management and develop an integrated digital and operational platform.”

MultiChoice Nigeria appoints new CEO

WhatsApp Image 2026-01-13 at 7.28.30 AMMultiChoice Nigeria has appointed Kemi Omotosho as its new Chief Executive Officer, following the retirement of John Ugbe, the company said in a statement on Monday.

The appointment will take effect from January 2026, marking a leadership transition at the pay-TV operator after nearly 15 years under Ugbe, who oversaw the business through significant shifts in Nigeria’s media and entertainment landscape.

Ugbe stepped down after a long tenure during which MultiChoice Nigeria navigated rapid digital transformation, changing consumer habits and intensifying competition within the pay-TV and streaming markets.

Omotosho brings more than two decades of experience spanning media, telecommunications and digital services across Nigeria and sub-Saharan Africa. She has held several senior roles within the MultiChoice Group, including Executive Head of Customer Value Management in Nigeria and Group Executive Head of Customer Value Management for the Rest of Africa.

Most recently, she served as Regional Director for Southern Africa, where she had overall responsibility for operations across seven countries.

Commenting on her appointment, Omotosho described Nigeria as a critical market for the Group and said she was looking forward to leading the business at a pivotal time.

“It is a privilege to be entrusted with the leadership of MultiChoice Nigeria at this important moment. Nigeria remains one of the Group’s most strategic and dynamic markets,” she said. “I look forward to working with our teams and partners to deepen our relationship with consumers and champion local storytelling and the creative economy, as well as build a future-ready organisation that delivers sustainable value.”

The company said the leadership change followed a structured transition process designed to ensure continuity and stability in its Nigerian operations.