Aradel Holdings Plc Wins Best Full-Field Integrated Operator Award At  NIES 2026

Aradel Holdings Plc has been selected as the recipient of the Best Full-Field Integrated Operator Award at the 9th edition of the Nigeria International Energy Summit (NIES 2026), hosted by the Federal Ministry of Petroleum Resources, Nigeria.

The award recognises energy companies whose operations span upstream production, midstream infrastructure, and downstream delivery, and reflect a fully integrated approach to value creation across Nigeria’s energy value chain. The award was presented after a rigorous selection process and voting by key stakeholders across the energy industry.

As acknowledged by the Management of NIES, ‘Aradel’s operations demonstrate coordinated asset development, infrastructure integration, and market delivery that support production efficiency, domestic supply, and delivery of long-term value across the sector.’

This award marks the second time Aradel has received this recognition for its integrated operating model at this prestigious industry forum. Previously, at the 7th edition of NIES, as part of the 2024 Energy Industry Awards, Aradel was honoured with the Best Fully Integrated Energy Company of the Year Award, underscoring the consistency and depth of its integrated approach across upstream, midstream, and downstream operations.

Speaking on this recognition, Adegbite Falade, MD/CEO, Aradel Holdings Plc commented:

“This recognition reflects Aradel’s commitment to integration, scale, and long-term growth across the energy value chain. We are proud of our contribution to Nigeria’s energy development through operational excellence and strategic infrastructure investment. Building on the strong foundation laid by our founders, and having recently attained 20 years of continuous production, we remain focused on long-term value creation for our stakeholders.”

The Nigeria International Energy Summit is one of Africa’s foremost energy platforms, convening government leaders, regulators, industry operators, investors, and global partners to advance dialogue on policy, investment, and innovation in the energy sector. The award was presented during the Gala Dinner and Award Night at NIES 2026, at the State House Banquet Hall, Aso Villa, Abuja.

NNPC Discusses Refinery Overhaul With Chinese Company

The Nigerian National Petroleum Company Limited (NNPCL) has opened talks with a Chinese company over one of the state-owned oil firm’s refineries.

The NNPC, Chief Executive , Bayo Ojulari said the company was seeking experienced operators as equity partners to revive its four refineries after years of losses and underperformance.

He 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.

NNPC’s board has approved a strategy to bring in refinery operators with proven expertise rather than contractors, Ojulari said, adding that the company was in advanced talks with several interested parties.

“I’m just coming from a meeting with one of the potential investors,” 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.”

Nigeria has struggled for years to rehabilitate its aging refineries, which have operated far below capacity, forcing Africa’s largest crude oil producer to rely heavily on imported fuel. The government hopes new partnerships will help reverse that trend.

Ojulari said the plants have been halted to allow time to assess options for restoring them, coinciding with the launch of Dangote Refinery which offered “breathing space” for domestic fuel supply.

He said NNPC was not selling the refineries but would relinquish a portion of their equity to partners to enable the plants to self-finance their operations.

Dangote Refinery Producing Euro-Standard Fuels, Refutes Import Allegations

Dangote Petroleum Refinery & Petrochemicals (DPRP) has dismissed reports suggesting that it imports finished petroleum products.

The refinery’s management described the claims as false and rooted in a misunderstanding of standard refinery operations.

 

The DPRP is a modern, large-scale merchant refinery with the capacity to refine crude oil as well as process intermediate feedstocks into high-quality finished petroleum products and petrochemicals, it said.

 

Speaking during a media briefing at the refinery, Chief Executive Officer and Managing Director of DPRP, David Bird, explained that it is standard industry practice for refineries to process intermediate or semi-processed materials into finished fuels. He stressed that this does not amount to importing finished petroleum products.

 

He noted that unlike conventional Nigerian refineries, the Dangote Petroleum Refinery operates on a European and Asian merchant refinery model, featuring a state-of-the-art refining, blending, and trading configuration designed to meet modern quality standards.

 

“DPRP produces high-quality fuels aligned with international environmental and health standards. Our gasoline is lead-free and MMT-free, with 50 parts per million sulphur, while our diesel meets ultra-low sulphur standards. These specifications help reduce emissions, protect engines, and safeguard public health,” Bird said.

 

According to him, the Dangote Petroleum Refinery produces only fully refined, market-ready fuels. “Dangote Petroleum Refinery offers high-quality finished products. We will never supply semi-finished products to the market. Semi-finished products should not be used in vehicles,” Bird said, while displaying samples of intermediate feedstocks and finished products to journalists.

 

He noted that while Nigerians had historically been exposed to substandard fuel, the refinery was established to reverse that trend and deliver fuels that meet the highest international standards. Bird added that the refinery’s products are now supplied to markets across the world, reflecting their quality and competitiveness.

 

Intermediate products, he explained, are semi-processed materials derived from crude oil and used as feedstock for further refining into finished fuels such as petrol and diesel, as well as petrochemicals. These include naphtha, straight-run gas oils, vacuum gas oil (VGO), reformate, alkylate and isomerate.

 

Bird emphasised that the refinery has remained transparent in its operations and engagements with regulators and urged the media to help educate the public on the distinction between intermediate and finished products.

 

“It is regrettable that some individuals are deliberately spreading false narratives about a refinery that has transformed Nigeria and the wider West African region from a dumping ground for substandard fuel into a refining hub with access to high-quality products,” he said.

 

He further noted that the refinery’s design flexibility allows it to process a wide range of crude oils and intermediate feedstocks into premium finished products.

 

Assuring of product availability to meet domestic demand, Bird said the refinery has played a significant role in easing fuel scarcity, stabilising the naira, and reducing pressure on foreign exchange.

 

Group Chief Brand and Communications Officer, Dangote Industries Limited, Anthony Chiejina, also urged journalists to exercise caution in their choice of words, warning that inaccurate terminology could misinform the public and create unnecessary panic.

NGX Group, SEC, Police To Promote Capital Market Integrity

The Securities and Exchange Commission (SEC, Nigerian Exchange Group Plc (NGX Group) and the Police have agreed to achieve Capital Market integrity, affirming collaboration to ensure sustainable operations.

The NGX Group, on Wednesday took a decisive steps on this when it hosted a Closing Gong Ceremony in honour of the Inspector-General of Police, IGP Kayode Egbetokun, signaling a strengthened partnership between capital market regulators and law enforcement agencies.

 

The ceremony highlighted a shared commitment to investor protection, the prevention of financial crime, and the reinforcement of trust and confidence in Nigeria’s capital market.

 

Welcoming the IGP, Alhaji Umaru Kwairanga, Group Chairman of NGX Group, commended the leadership of the Nigeria Police Force in supporting market integrity. He said: “Market integrity is a shared responsibility. By honouring the Inspector-General of Police, we are reinforcing the importance of institutional alignment in protecting investors and preserving trust in our financial system. Strong collaboration between regulators, enforcement agencies, and market infrastructure institutions is essential to building a resilient and credible market that supports economic growth.”

 

The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, emphasized the importance of coordinated enforcement, noting: “Investor protection is at the core of market regulation, and today’s engagement highlights how critical collaboration with law enforcement is to achieving that mandate. This partnership strengthens our enforcement capacity, enhances deterrence against illegal investment activities, and reinforces confidence in the Nigerian capital market.”

 

In his response, IGP Kayode Egbetokun reaffirmed the commitment of the Nigeria Police Force, stating: “A transparent and well-regulated capital market is vital to Nigeria’s economic growth. The Nigeria Police Force remains committed to working with regulators and market operators to prevent financial crime, protect investors, and uphold the integrity of our financial system.”

 

Also speaking, Chairman of Nigerian Exchange Limited (NGX), Ahonsi Unuigbe, highlighted the role of the Exchange in promoting market discipline: “A transparent and orderly market can only thrive where rules are respected and misconduct is addressed decisively. The presence of the Nigeria Police Force in this collective effort sends a strong signal that safeguarding the market is a national priority.”

 

Similarly, Group Managing Director/Chief Executive Officer of NGX Group, Temi Popoola, stressed the importance of aligning innovation with oversight: “Technology and market growth must be supported by strong enforcement and investor protection frameworks. Our collaboration with the SEC and the Nigeria Police Force reflects a unified approach to preserving the credibility of Nigeria’s capital market.”

 

The event brought together key stakeholders across the capital market ecosystem, all reaffirming their commitment to accountability, transparency, and investor confidence. The ceremonial Closing Gong marked a collective resolve to strengthen Nigeria’s financial system through sustained collaboration.

NCAA Cracks Down on Ticket Charge Defaults, Gives Airlines 90-Day Window on Payment Guarantees

NCAA gives airlines 90-day grace period on advance payment guarantees -  Vanguard News
The Nigeria Civil Aviation Authority (NCAA) has begun formal consultations with the Airline Operators of Nigeria (AON) on the introduction of Advance Payment Guarantees (APGs) to strengthen enforcement of the statutory five per cent Ticket Sales Charge (TSC) remittance by airlines.
The high-level engagement, held on Monday, February 2, 2026, at the Authority’s headquarters in Abuja, followed a request by AON for clarification on the requirement for operators to provide bank-backed guarantees. The move forms part of the NCAA’s renewed drive to safeguard funds collected from passengers on behalf of Nigeria’s aviation system.
Speaking at the meeting, the Director-General of Civil Aviation (DGCA), Captain Chris Najomo, said the NCAA’s mandate to collect the five per cent TSC is backed by the Civil Aviation Act (CAA) 2022 (as amended). He explained that the charge is paid by passengers and held in trust by airlines before being remitted to the Authority for equitable distribution to aviation agencies responsible for safety, security and regulatory oversight.
Najomo expressed concern over persistent delays by some operators in remitting the charges, noting that such lapses weaken the financial base required for effective regulation of the sector.
According to him, the proposed APG framework is not designed to stifle airline operations, but to strengthen compliance, improve remittance timelines and guarantee predictable funding for the NCAA to carry out its statutory responsibilities.
After extensive deliberations with airline representatives, the DGCA approved a 90-day deferment of the APG requirement. The grace period is intended to give operators time to regularise outstanding remittances and align with the new compliance structure.
He urged airlines to take advantage of the window to settle their obligations, reiterating the Authority’s commitment to industry stability and ease of doing business, without compromising its legal mandate to protect public funds and regulate the sector effectively.
Responding on behalf of the AON, the Chief Executive Officer of Overland Airways, Captain Edward Boyo, commended the NCAA for the open and constructive dialogue. He assured that all Air Operator Certificate (AOC) holders would utilise the deferment period to meet their financial obligations and achieve full compliance with the remittance requirements.
The meeting was attended by senior NCAA officials, including the Director of Operations, Licensing and Training Standards, Captain Donald Spiff; Director of Air Transport Regulation, Mrs. Olayinka Babaoye-Iriobe; Director of Finance and Accounts, Mr. Olufemi Odukoya; and the Director of Legal Services and Company Secretary, Barrister Mary Tufano-Eche.
Tincan Island Customs Smashes Revenue Target, Rakes in ₦1.6trn, Honours Top Officers

Tincan Island Customs Celebrates Distinguished Officers, Exceeds ₦1.6trn  Revenue Target The Nigeria Customs Service (NCS), Tincan Island Port  Command, on Wednesday, 28 January 2026 at it's headquarters in Lagos,  recognised outstanding officers
The Nigeria Customs Service (NCS), Tincan Island Port Command, has recorded a historic revenue performance, announcing a collection of ₦1.6 trillion, surpassing its 2025 target of ₦1.524 trillion.
The milestone was unveiled during an awards and recognition ceremony held on Wednesday, January 28, 2026, at the Command’s headquarters in Lagos, where outstanding officers were honoured for exceptional service.
Speaking at the event, the Customs Area Controller (CAC), Comptroller Frank Onyeka, described the feat as a major operational breakthrough driven by teamwork, efficiency and transparency.
“This achievement is the product of collective effort. A tree can never make a forest. I could not have done it alone. Our officers deserve appreciation for their tireless commitment to duty”, Onyeka said.
He explained that the ceremony reflects a growing culture within the Service to reward diligence, professionalism and shared responsibility across all units.
Onyeka also highlighted reforms introduced to strengthen trade facilitation, including directives to eliminate unnecessary delays in cargo and file processing.
“When I assumed office, I made it clear that files must not be held without reason. If there are issues, they should be identified and resolved promptly. And if you are unsure, ask questions”, he stated.
The CAC added that the recently launched Time Release Study by the Comptroller General of Customs, Adewale Adeniyi, has further reinforced the Command’s resolve to fast-track legitimate trade while sustaining strict regulatory compliance.
He commended his predecessor, Deputy Comptroller General Dera Nnadi, describing his leadership as instrumental in laying the foundation for the Command’s recent successes.
Onyeka also expressed appreciation to the Comptroller General, Adewale Adeniyi, stakeholders, partners and officers for their continued confidence and cooperation despite prevailing economic and operational challenges.
The Tincan Island Port Command’s ₦1.6 trillion haul now stands as one of the strongest revenue performances in the history of the NCS, underscoring its strategic role in Nigeria’s maritime trade and revenue generation.
₦80.2bn Fraud: Court Insists on Receipts  Before Admitting CTCs

 

The trial of former Kogi State Governor, Yahaya Adoza Bello continued on Wednesday, February 4, 2026, before Justice Emeka Nwite of the Federal High Court, Maitama, Abuja, with the cross-examination of Prosecution Witness Seven (PW7).

 

Bello is being prosecuted by the Economic and Financial Crimes Commission, EFCC, on a 19-count charge bordering on money laundering to the tune of ₦80,246,470,088.88.

 

At the resumed proceedings on Wednesday,  prosecution counsel, Kemi Pinheiro, SAN, informed the court that the matter was slated for the cross-examination of PW7, adding that the prosecution had three witnesses available.

PW7, Olomotane Egoro, a compliance officer with Access Bank Plc, was led to the witness dock and affirmed that he remained under oath.

 

During cross-examination by defence counsel, J.B. Daudu, SAN, the witness confirmed that he testified pursuant to a subpoena and tendered Exhibits 32, 33(1–11), and 34. He also confirmed that he had previously testified before another Federal High Court in relation to the same exhibits but could not recall the specific defendants or whether he testified as PW2.

 

While the defence sought to tender Certified True Copies (CTCs) of documents from the other court, Pinheiro,  noted that the prosecution had no objection to the documents but raised a procedural issue regarding the absence of receipts evidencing payment for the CTCs. He also maintained that the witness had been consistent in his testimony.

 

Meanwhile, Justice Nwite held that the documents could only be admitted upon the presentation of the required receipts, agreeing with the prosecution. The defence subsequently informed the court that efforts were ongoing to retrieve the receipts.

 

Further cross-examination centred on bank transactions involving Keyless Nature Limited, Fazab Oil, and Abba Adaudu. The witness confirmed a counter cheque payment at the Otukpo Branch of Access Bank and transfers, including ₦200,000 and ₦8 million, made in favour of Abba Adaudu.

 

 

 

On local government inflows, the witness testified that payments were made for specific purposes, including: ₦7,500,144.61 from Okehi Local Government for the supply of medical items; ₦10,863,247.50 from Omala Local Government on June 3, 2022, for the supply of sporting materials; and ₦12,228,400.10 from Yagba East Local Government on June 6, 2022, for the procurement of medical consumables.

 

He also stated that entries in Exhibit 33(11) were consistent with normal banking transactions and that the account opening package of Fazab Oil was not immediately available but could be retrieved.

 

Justice Nwite thereafter adjourned the matter to Thursday, February 5, 2026, for the continuation of the cross-examination of PW7.

NRC Alleges Oyo LG Chairman Led Destruction of Rail Assets Worth Millions in Ibadan

NRC accuses Oyo LG chairman of destroying rail assets worth millions in  Ibadan - Businessday NG
The Nigerian Railway Corporation (NRC) has raised the alarm over the alleged destruction and removal of railway assets worth several millions of naira along its right-of-way in Ibadan, Oyo State.
In a statement issued in Lagos on Tuesday, February 3, 2026, the Corporation said it received a disturbing report on the vandalisation of its fixed infrastructure within the Ibadan South-West Local Government Area.
According to the NRC, the incident occurred on Monday, February 2, 2026, at the Mile One-Ten axis, where the Chairman of Ibadan South-West Local Government Council, Hon. Kehinde Amanda, allegedly led a group of thugs, persons dressed in Nigerian Army uniforms and operatives of Amotekun to demolish and cart away NRC property.
The Council Chairman was said to have claimed he was acting on the directive of the Oyo State Governor.
NRC stated that assets destroyed and removed during the operation included rail tracks, sleepers, signal poles, billboards and fences belonging to NRC tenants along the corridor. The Corporation stressed that the affected area is a clearly defined and statutorily protected railway right-of-way.
It added that officers of the NRC Police Command attempted to stop the action but were resisted and forced to withdraw from the scene.
Describing the incident as a grave violation of federal railway assets, the Corporation said it is fully documenting the matter and would pursue appropriate security, administrative and legal measures to safeguard its property and prevent further encroachment on railway corridors nationwide.
The Managing Director of NRC, Dr. Kayode Opeifa, appealed to the Oyo State Governor to urgently intervene by calling the Ibadan South-West Local Government Chairman to order in order to avert a breakdown of law and order and the continued abuse of the rights of railway workers.
He also reaffirmed the Corporation’s commitment to maintaining law and order despite what it described as provocation.
The statement was signed by the Chief Public Relations Officer of the NRC, Callistus Unyimadu, on behalf of the management.
Rivers crisis: Tinubu will always place Wike at advantage – Lawyer, Ogwuche

A legal practitioner, Festus Ogwuche, has said that President Bola Tinubu will always place the Minister of the Federal Capital Territory, FCT, Nyesom Wike, at an advantage in the ongoing political tension in Rivers state.

Speaking during an interview on Arise Television’s ‘Prime Time’ on Tuesday, Ogwuche, stated that Governor Siminalayi Fubara should have been more calculative when he was defecting to the All Progressives Congress, APC.

He said that Fubara lacks understanding of the level of the relationship between president Tinubu and the FCT Minister.

“Wike and Tinubu’s relationship goes beyond a godfather-godson relationship.

“It is deeper into certain undercurrents that we cannot fathom, and the president will always place Wike at an advantage in this crisis,” he said.

INEC Requests Media Support To Deliver Credible Elections During FCT Area Council Elections

The Independent National Electoral Commission (INEC) has encouraged the media to intensify voter education, promote professionalism and uphold ethical standards in election coverage ahead of the February 21, 2026, Federal Capital Territory (FCT) Area Council Elections.

The call was made in Abuja on Tuesday, February 3, 2026, at a forum for media executives, producers, reporters and on-air personalities, organised by the Commission as part of its ongoing stakeholder engagement for the forthcoming election.

Speaking at the forum, the Supervising National Commissioner for the FCT and Chairman, Information and Voter Education Committee (IVEC), Malam Mohammed Haruna, underscored the central role of the media in safeguarding Nigeria’s democracy, stressing that voter participation and responsible reportage remain key to the credibility of elections.

He urged media organisations to use their platforms to educate and mobilise eligible voters, noting that effective election coverage requires not only a sound understanding of the Constitution, the Electoral Act and INEC’s Rules and Guidelines, but also integrity, fairness and strict adherence to the Code of Conduct for Election Coverage.

Commissioner Haruna cautioned that while journalists, like all citizens, may hold personal views, such prejudices must never interfere with objective and professional reporting, adding that democracy thrives when the media places public interest above partisanship.

Providing an update on INEC’s preparedness, the National Commissioner disclosed that the Commission had successfully conducted 10 of the 13 key activities outlined in the Timetable and Schedule of Activities for the election. He said the most recent milestone was the publication of the final Register of Voters on January 14, 2026, copies of which have been distributed to all political parties participating in the election.

According to him, the remaining activities are the publication of the Notice of Poll on February 7, the end of political party campaigns on February 19, and Election Day on February 21.

Malam Haruna also highlighted other critical preparations not listed in the timetable, including the accreditation of observers and journalists, which have been conducted online since the lead-up to the 2023 General Election as part of INEC’s technological innovations. While the observer accreditation portal has closed, he noted that the media accreditation portal remains open until February 8, urging media organisations yet to apply to do so promptly to enable timely issuance of accreditation cards.

On logistics, he revealed that the Commission had acquired virtually all non-sensitive materials required for the election and batched them according to the six Area Councils, 62 Wards and 2,822 Polling Units in the FCT. He added that sensitive materials, including ballot papers and result sheets, would be printed ahead of time and formally received from the Central Bank of Nigeria (CBN), FCT Branch, on February 18, in the presence of party agents, security agencies, civil society organisations and the media.

He further disclosed that adequate Bimodal Voter Accreditation System (BVAS) machines were being configured and prepared for deployment to all polling units.

Commissioner Haruna explained that although FCT Area Council elections are similar to Local Government elections conducted by State Independent Electoral Commissions, Section 299 of the Constitution applies the Constitution to the FCT “as if it were one of the States of the Federation.”

“In practical terms, FCT Area Council elections are conducted like governorship elections,” he said, noting that the FCT’s voting population is larger than those of Bayelsa and Ekiti States. He added that the Territory’s status as the political capital of Nigeria naturally attracts national and international attention.

He stressed that as the first FCT Area Council Election since the Electoral Act extended council tenure from three to four years, the Commission was determined to leave no stone unturned to ensure a free, fair and credible poll.

Earlier in his welcome address, the Resident Electoral Commissioner (REC) for the FCT, Malam Aminu Kasimu Idris, described the forum as a strategic platform for strengthening collaboration and aligning expectations between INEC and the media ahead of the elections.

He noted that public confidence in elections is shaped not only by how the process is conducted, but also by how it is reported and communicated, stressing that INEC’s commitment to a peaceful, transparent and inclusive election cannot be achieved without the support of a responsible and professional media.

The REC outlined the Commission’s level of preparedness, listing activities already undertaken, including the monitoring of party primaries, publication of final lists of candidates, campaign monitoring, delivery and batching of non-sensitive materials, activation of BVAS devices, stakeholder engagements, voter education and sensitisation, collaboration with security agencies, and the training of election security personnel.

He disclosed that INEC had approved the replacement of the All Progressives Congress (APC) candidate for Igu Ward in Bwari Area Council following the demise of the initial candidate, Zachariah James Danbaki, with Danbaki Titus emerging as the replacement.

Malam Idris also announced that the Commission would conduct a mock accreditation exercise in 289 selected polling units across the six Area Councils to test election technologies, including BVAS accreditation, voting procedures and dummy result uploads to the INEC Result Viewing (IReV) portal. He called on the media to give the exercise wide publicity to ensure voter awareness and participation.

On voter statistics, the REC revealed that following the revision of the register, the total number of registered voters in the FCT now stands at 1,680,315. He added that INEC had approved the decongestion of large Registration Area Centres (RACs) in select wards of Bwari Area Council and the Abuja Municipal Area Council (AMAC) to enhance efficiency on Election Day.

He further clarified that elections would not hold in four polling units, hree in Garki Ward and one in Jiwa Ward, due to the absence of registered voters.

In a goodwill message, the Chairman of the Nigeria Union of Journalists (NUJ), FCT Council, Ms. Grace Ike, commended INEC for convening the forum, describing it as timely in an era where misinformation spreads faster than facts.

She noted that elections are not only won or lost at polling units, but also in the information space, urging journalists to prioritise accuracy over speed, reject hate speech and incitement, ensure fairness and balance, and uphold professionalism in their coverage.

Ms. Ike also emphasised the importance of the safety and protection of journalists, calling on INEC, security agencies, political parties and their supporters to respect the media and guarantee the safety of reporters and their equipment before, during and after the elections.

She further called for sustained transparency and effective communication from INEC to counter rumours and fake results, noting that information gaps often fuel misinformation.