Aviation Minister, Keyamo reacts to Enugu Air incident, orders investigation

Minister of Aviation and Aerospace Development, Festus Keyamo, has reacted to the crash-landing of Enugu Air at Benin airport in Edo State.

In a post on his verified X handle on Friday, Keyamo said he had ordered all the relevant agencies to work closely with Enugu Air to unravel the cause of the incident.

DAILY POST recalls that the aircraft crashed at Benin City airport on Thursday.

Following the incident, Air Peace aircraft suspended all its flights to and from the Benin Airport after the temporary closure of the airport’s runway following a runway incursion.

Reacting, Keyamo said, “I have been duly informed that the incident with Enugu Air yesterday in Benin is that the aircraft skidded off the runway after landing successfully (it is called ‘runway excursion’ in aviation terminology).

“Everyone was safe. I have directed all the relevant agencies to work closely with Enugu Air to unravel the cause.”

Northeast power crisis worsens as Jalingo, Yola go dark ahead of planned TCN outage

Residents of Jalingo, the Taraba State capital, and Yola, the Adamawa State capital, are once again grappling with a prolonged electricity blackout following a fault at a Transmission Company of Nigeria, TCN, facility, a development that has intensified concerns over the reliability of power supply across the northeast.

The latest outage has left homes, businesses and public institutions without electricity for the past three days, with Jalingo metropolis among the worst affected.

The blackout has disrupted commercial activities, forced many businesses to rely on costly alternative sources of power and compounded the hardships faced by residents already struggling with rising living costs.

The incident comes at a particularly difficult time for electricity consumers in the region, as TCN had only recently announced a planned maintenance exercise that was expected to result in a temporary power interruption across several northeastern states.

According to the company, electricity consumers in Bauchi, Gombe, Damaturu, Maiduguri, Yola, Jalingo and surrounding communities are scheduled to experience a planned outage from 9:00 a.m. on Saturday, July 25, until 5:00 p.m. on Sunday, July 26, 2026, to enable maintenance work on critical transmission infrastructure.

However, the unexpected fault has effectively extended the blackout for many customers, sparking frustration among residents who say they have been left in darkness even before the commencement of the scheduled maintenance.

Business owners and residents expressed concern over the worsening power situation, noting that the prolonged outage has affected economic activities, increased operational costs and disrupted household routines.

Explaining the cause of the latest disruption, the Yola Electricity Distribution Company, YEDC, said the outage resulted from a technical fault at the 132kV Transmission Station operated by TCN.

In a statement issued on Thursday, the distribution company disclosed that the fault occurred at about 5:55 p.m. on Wednesday when the primary circuit breaker on TCN’s 125MVA transformer tripped at the transmission station.

According to YEDC, the incident affected all its 33KV feeders supplied from the facility, resulting in a widespread loss of electricity supply across Yola and its surrounding communities.

The company said it had been informed that TCN engineers were working to clear the fault and restore electricity supply to affected customers.

Despite the ongoing repair efforts, YEDC noted that the previously announced planned outage by TCN remains in effect. Consequently, electricity supply will continue to be managed in accordance with the approved outage schedule even after the fault is rectified.

The development has once again highlighted the vulnerability of electricity supply in the northeast, where technical faults on key transmission infrastructure often result in widespread blackouts affecting multiple states simultaneously.

For residents and businesses already contending with high energy costs, the combination of an unplanned system fault and an impending maintenance shutdown means a longer period of uncertainty, with many hoping that repair works and the scheduled maintenance will be completed within the stipulated timeframe.

YEDC appealed to customers to remain patient and understanding while engineers work to restore normal electricity supply, assuring consumers that efforts are ongoing to resolve the fault and stabilize the network.

NDLEA seized over two billion tramadol pills in 18 months – Marwa

The National Drug Law Enforcement Agency, NDLEA, has revealed that it confiscated more than two billion pills of tramadol over the past 18 months through intelligence-led operations conducted in collaboration with international partners.

NDLEA Chairman, Brig. Gen. Buba Marwa (retd.), disclosed this on Thursday during a familiarisation visit to the Lekki Free Trade Zone and Lekki Deep Sea Port in Lagos.

Marwa attributed the massive seizures to strengthened intelligence gathering and close cooperation with foreign counterparts, particularly law enforcement agencies in India and Pakistan.

“Within the last 18 months, we have seized more than two billion pills of tramadol through coordinated operations and intelligence sharing with our international partners, especially in India and Pakistan,” he said.

He cautioned criminal networks against attempting to use Nigeria’s seaports for drug trafficking, noting that the agency had significantly upgraded its surveillance and intelligence capabilities.

According to him, the NDLEA is working in close partnership with the Nigeria Customs Service, NCS, the National Agency for Food and Drug Administration and Control, NAFDAC, and other security agencies under existing memoranda of understanding to facilitate seamless intelligence exchange and case transfers.

Marwa called for stronger collaboration among government agencies, port operators and stakeholders within the Lekki Free Trade Zone, stressing that collective action is essential to combat drug trafficking and protect the nation’s economy.

Describing the Lekki Deep Sea Port and the Free Trade Zone as critical national assets, he said safeguarding the facilities from organised criminal groups requires sustained cooperation.

“The fight against drug abuse and trafficking cannot be left to the NDLEA alone,” he said.

“Nigeria is facing a serious drug problem. We are all parents, and we can see the devastating impact drug abuse is having on our young people. Addressing this challenge requires the commitment of the entire society.”

Marwa reaffirmed the agency’s resolve to dismantle networks involved in the cultivation, production, importation, trafficking and distribution of illicit substances across the country.

He referenced the recent discovery of a clandestine methamphetamine laboratory in Ogun State, saying the illegal facility could have produced narcotics valued at about $360 million if it had remained undetected.

The NDLEA chairman also disclosed that the Federal High Court recently inspected the forest site where the laboratory was uncovered as part of the ongoing prosecution of those linked to the operation.

He maintained that all suspects, including foreign nationals allegedly involved in establishing the illegal factory, should be made to face the full weight of the law.

Marwa further advised parents to remain vigilant and monitor their children for signs of substance abuse, urging them to seek professional help at the earliest opportunity.

“If there is any suspicion that a family member is using drugs, it is important to conduct a drug test and seek help immediately. Early intervention is better than waiting until addiction leads to psychiatric problems or even death,” he said.

He expressed confidence that the proposed amendment to the NDLEA Act would introduce tougher penalties for drug traffickers and further strengthen Nigeria’s campaign against illicit narcotics.

Earlier, the Managing Director of Lekki Free Zone, Mrs. Adesuwa Ladoja, pledged the zone’s continued partnership with the NDLEA to prevent drug-related crimes and other illegal activities.

Similarly, the Managing Director of Lekki Port, Mr. Wang Qiang, reaffirmed the port’s commitment to supporting the agency and other security organisations, noting that China maintains a zero-tolerance policy towards illicit drugs.

In his welcome address, the Area Commander of the NDLEA Lekki Deep Sea Port Command, Jonah Achema, described the command as one of the enduring achievements of Marwa’s leadership.

He noted that since its establishment in 2022, the command has recorded major seizures of tramadol and other illicit substances, underscoring its growing role in safeguarding Nigeria’s newest seaport from drug trafficking.

Crude crosses $100 as Red Sea tensions disrupt supplies

Crude oilGlobal oil prices climbed above $100 per barrel on Thursday for the first time in nearly two months after escalating attacks on commercial shipping in the Red Sea heightened fears of prolonged supply disruptions across key global energy routes.

Brent crude, the international benchmark, rose to $100.69 per barrel in mid-morning trading, gaining more than seven per cent after touching an intraday high of $101.01.

According to Oilprice.com, US West Texas Intermediate also recorded sharp gains, while the entire Brent forward curve strengthened as traders factored in growing risks to global crude supplies.

The latest rally followed claims by Yemen’s Houthi rebels that they had struck two Saudi oil tankers in the Bab el-Mandeb Strait after announcing a naval blockade of Saudi oil exports earlier this week.

The attacks reportedly forced several commercial vessels to reroute or delay passage through the strategic waterway, threatening Saudi Arabia’s key export corridor used to bypass disruptions in the Strait of Hormuz.

The fresh escalation has fuelled concerns that the Middle East supply crisis is spreading beyond Hormuz, placing two of the world’s most important oil shipping routes under simultaneous pressure.

Brent has now surged by about 20 per cent in the past two weeks as repeated attacks on commercial shipping, renewed fighting involving Iran and mounting export disruptions erased earlier expectations that geopolitical tensions would ease quickly.

The rally has also been supported by disruptions outside the Gulf. Kazakhstan has reportedly begun cutting oil production after drone attacks shut down tanker loadings at the Caspian Pipeline Consortium terminal on the Black Sea.

Indian state-owned refiners have also suspended Iraqi crude loadings because of shipping risks through the Strait of Hormuz, while Russian fuel exports remain constrained following months of Ukrainian drone strikes on refineries.

The physical oil market is tightening alongside the futures rally, with governments drawing down strategic petroleum reserves to cushion supply shortages.

Commercial crude inventories have reportedly declined sharply, while China has reduced imports by relying on stockpiles accumulated before the Middle East conflict, reducing another key buffer against supply shocks.

Brent’s return to triple digits reverses the optimism that followed the memorandum of understanding between the United States and Iran, which had briefly raised hopes that Middle East crude exports would normalise.

Those expectations have since faded as hostilities expanded from the Strait of Hormuz to the Red Sea, raising fears of wider disruptions to global oil trade.

The latest price surge could have mixed implications for Nigeria. While higher crude prices may increase the country’s export earnings and improve government revenues, they could also raise the cost of imported refined petroleum products, worsen inflationary pressures and increase the burden on fuel consumers if domestic supply remains insufficient.

Energy firm secures FMDQ listing for N15bn bond

The Group Chief Operating Officer of FMDQ Group Plc, Ms Tumi SekoniFMDQ Securities Exchange Limited has approved and listed Paras Energy Funding SPV Plc’s N15.00bn 5-year 18.00 per cent Series 1 Fixed Rate Bond on its platform.

The listing, executed under the company’s N25.00bn Bond Issuance Programme, followed approval by the Exchange’s Board Listings and Markets Committee.

Commenting on the listing, the Group Chief Operating Officer of FMDQ Group Plc, Ms Tumi Sekoni, emphasised the role of capital markets in driving critical infrastructure development.

“The listing of Paras Energy Funding SPV PLC’s N15.00bn Series 1 Fixed Rate Bond on FMDQ Exchange reflects the important role the debt capital markets play in financing Nigeria’s power sector.

“As the country continues to prioritise reliable and sustainable energy infrastructure, FMDQ Exchange remains committed to connecting credible issuers like Paras Energy Funding with the investors needed to drive long-term growth through its trusted platform,” Sekoni said.

Paras Energy Funding SPV Plc is a special purpose vehicle established to support the capital market financing needs of the Paras Energy Group, an independent power generation company supplying electricity to Nigeria’s national grid, industrial clusters, and private off-takers.

According to the company, proceeds from the bond issuance will be deployed to finance power generation, expand critical infrastructure, and refinance existing debt obligations to enhance electricity reliability across the country.

Nigeria’s power sector continues to face liquidity constraints and infrastructure deficits, making private sector investments and capital market interventions critical to bridging the nation’s energy supply gap.

The transaction was sponsored by Rand Merchant Bank Nigeria Limited as the lead sponsor, alongside FCMB Capital Markets Limited, both acting as Registration Members (Listings) of the Exchange.

FMDQ Exchange reaffirmed its commitment to strengthening Nigeria’s financial ecosystem through market innovation, strong governance, and operational transparency, reinforcing its position as a preferred venue for long-term debt capital.

Sterling Bank keeps NPL below CBN threshold for decade

Sterling Bank keeps NPL below CBN threshold for decadeSterling Bank’s non-performing loan ratio has remained largely stable over the past decade, rising marginally from 4.80 per cent in the first quarter (Q1) of 2016 to 4.93 per cent in Q1 2026, while staying below the Central Bank of Nigeria’s five per cent prudential threshold.

Sterling Bank’s ratio remained far lower than the industry’s performance of eight per cent to nine per cent in Q1.

Bad loans in Nigeria’s banking sector stood at 8.03 per cent in January 2026. The figure, contained in the CBN’s January 2026 Economic Report, showed that the industry’s non-performing loans ratio rose by 0.52 percentage point from 7.51 per cent in December 2025.

It also remained above the CBN’s prudential threshold of five per cent, indicating a further deterioration in asset quality across the banking industry despite the apex bank’s insistence that the sector remained resilient.

The report said, “Following the bank’s loan reclassification after the withdrawal of forbearance, the non-performing loans ratio rose by 0.52 percentage point to 8.03 per cent compared with the level in the preceding period and was above the 5.00 per cent prudential threshold.”

The average (NPL) ratio for the Nigerian banking sector reached 9.85 per cent by February.

The CBN warned that a stubborn rise in non-performing loans could impair asset quality and weaken banks’ balance sheets, thereby posing systemic risk.

It recommended deepening “the operational integration of the GSI framework across all financial institutions to enhance loan recovery efficiency and credit discipline.”

The CBN also recommended strengthening credit discipline and reducing NPLs by fully integrating the Global Standing Instruction framework to boost loan recovery efficiency.

MAN warns inflation won’t ease without reforms

The Manufacturers Association of Nigeria has renewed its call for coordinated structural reforms to address inflation, improve productivity and strengthen the competitiveness of the country’s manufacturing sector, as it looked ahead to the second half of 2026 following disruptions caused by the Middle East conflict.

The association made the call against the backdrop of the latest National Bureau of Statistics data, which showed that Nigeria’s headline inflation eased marginally to 15.91 per cent in June 2026 from 15.93 per cent in May. However, food inflation accelerated on a month-on-month basis, driven by higher prices of fresh pepper, tomatoes, crayfish, beef, garri, yams and other staple foods.

The PUNCH earlier reported that members of the organised private sector welcomed the slight decline in the inflation rate for June 2026 but warned that inflation remained in double digits and prices were still too high for businesses and consumers.

In his remarks for the April-June edition of MAN News obtained by this publication, the Director-General of MAN, Segun Ajayi-Kadir, observed that the renewed increase in inflation during the quarter highlighted the fragility of Nigeria’s economic recovery as higher food prices, energy costs, transportation expenses and exchange rate pressures continued to raise production costs and weaken consumers’ purchasing power.

“MAN has consistently maintained that addressing inflation requires coordinated structural reforms that improve productivity, strengthen infrastructure, enhance security in agricultural and industrial communities, and stabilise the foreign exchange market,” Ajayi-Kadir stated.

Meanwhile, Ajayi-Kadir noted that the association remained committed to pursuing policies that would enhance industrial competitiveness despite economic headwinds in the first half of the year.

He said, “As we enter the second half of the year, our priorities remain firmly focused on advancing policies that improve competitiveness, encourage investment, expand local production, deepen exports, and position Nigeria as Africa’s industrial hub and the preferred manufacturing destination.”

He noted that the second quarter witnessed increased business and government activities after a slow start to the year but was affected by insecurity across parts of the country and the impact of the ongoing conflict between the United States and Iran in the Middle East.

Ajayi-Kadir reported that the association advocated the recapitalisation of the Bank of Industry, the creation of additional concessionary lending windows for manufacturers, lower import costs for industrial machinery and essential raw materials, and long-term development finance to support investment and expansion.

He expressed concern over the continued decline in credit to manufacturers, warning that industrialisation would remain constrained if productive enterprises could not access affordable financing.

He also reaffirmed MAN’s support for tax reforms that modernise tax administration and improve revenue generation but opposed the retroactive application of the 2025 Nigeria Tax Laws, noting, “Our position remains unchanged. We support reforms that modernise tax administration, improve revenue mobilisation, and strengthen fiscal sustainability. At the same time, successful reform depends on transparent implementation, predictable policies, and continuous stakeholder engagement.”

The MAN DG further urged the Federal Government to address the unresolved foreign exchange forward obligations owed to some manufacturers, describing the issue as a breach of valid contracts that had continued to weaken the financial position of affected companies.

He said the association also intensified advocacy for greater local raw material utilisation through collaboration with the Raw Materials Research and Development Council and the Nigeria Customs Service to deepen backward integration and reduce dependence on imported industrial inputs.

Ajayi-Kadir added that MAN remained optimistic that continued collaboration between the government and the private sector would strengthen ongoing economic reforms and support Nigeria’s industrial transformation.

He is just blabbing – NDC, Obidients reject Ganduje’s criticism of Obi-Kwankwaso ticket

The Nigeria Democratic Congress (NDC) and the Obidient Movement have rejected former APC National Chairman, Abdullahi Ganduje’s claim that the Peter Obi and Rabiu Kwankwaso presidential ticket cannot win the 2027 election.

Both groups said Obi and Kwankwaso have strong records in government and large political support bases that could help them win elections, especially in Kano State and across Nigeria.

Ganduje had described the NDC ticket as dead on arrival, arguing that neither Obi nor Kwankwaso had the leadership record or political legacy needed to win the presidency.

He also questioned their popularity and achievements in Anambra and Kano states.

Reacting to the comments, NDC Deputy National Publicity Secretary, Abdulmumin Abdulsalam, dismissed Ganduje’s remarks, saying, “he is just blabbing.”

He argued that the former APC chairman had lost political relevance in Kano and claimed the NDC was well-positioned to win elections in the state because of Kwankwaso’s influence.

He added, “We are confident of clearing all the state Assembly seats. We are also confident of winning the senatorial, House of Reps and governorship elections as well.”

Abdulsalam also said Obi’s performance in the 2023 presidential election showed his nationwide appeal. According to him, more votes will be recorded for him in the northern part of Nigeria because of the country’s current economic situation.

The National Coordinator of the Obidient Movement Worldwide, Dr Yunusa Tanko, also criticised Ganduje’s comments.

He questioned Ganduje’s credibility and defended Obi’s record as governor of Anambra State, saying, “He left N75bn in the coffers of Anambra State.”

Tanko also praised Kwankwaso’s achievements in Kano, pointing to infrastructure projects and education programmes that sponsored students to study abroad.

Osun guber: ‘Election facing integrity risk’ – Yiaga Africa exposes financial inducement

Yiaga Africa has published its pre-election analysis regarding the current circumstances in Osun in anticipation of the upcoming governorship elections next month.

According to Yiaga’s report, the integrity of the governorship election is at risk, noting an increase in the distribution of money or gifts by candidates or their supporters to voters.

Yiaga Africa said that its findings conducted between 14 and 29 June 2026, recorded numerous occurrences of cash and gift distribution by political figures and their supporters during campaign events and community interactions.

The report made available to reporters in Abuja further stated that while some of these distributions were presented as social interventions or charitable programmes, their timing and proximity to the election raise concerns about their potential to unduly influence voters.

“Such incidents were reported in Irepodun, Ola-Oluwa, Olorunda  and Osogbo LGAs. In Ilobu/Erin, Irepodun LGA, observers heard that a group known as the ITK Sisters distributed cash, garri, beans and other food items to residents,” the report added.

It continued, “Similarly, observers reported the distribution of food items by unidentified groups in the Ekerele-Iwara area of Ola-Oluwa LGA, as well as in parts of Olorunda and Osogbo LGAs. A more sophisticated pattern of voter inducement was observed in Ife South LGA. On 7 July 2026, residents of Ara Joshua Village in Osi Ward reportedly received electronic transfers of N10,000 with the narration, ‘Renewed Hope Ambassadors/APC EPYT.’ “

Yiaga Africa said that its observers noted that the payments were linked to an earlier exercise in March 2026, during which individuals visited communities to collect voters’ Voter Identification Numbers, VINs, and National Identification Numbers, NINs.

“The same individuals reportedly returned in June 2026 to obtain beneficiaries’ bank account details before they made the transfers.This emerging data-enabled model of voter inducement represents a growing electoral integrity concern.

“Unlike conventional vote buying at polling units, it occurs well before election day, leaves fewer visible traces, and is more difficult to detect through traditional election observation methods,” Yiaga Africa said.

The organization further reported what it called ‘very limited voter education’ efforts targeted at marginalised groups such as women, youth, and Persons with Disabilities, PWDs.

“CSO-led campaigns targeting women were only recorded in Irewole and Ola-Oluwa LGA. Youth-targeted voter education campaigns were reported to have been conducted by INEC in Irewole and Ola-Oluwa and by CSO in Ede South LGA. In addition, PWDs targeted campaigns were reported to be conducted by only INEC, in Ola-Oluwa LGA,” it further stated.

Man rescued unhurt after being trapped in faulty elevator on Lagos Island

An adult male was safely rescued after becoming trapped inside a malfunctioning elevator in a three-storey building located on Freeman Street, Zapass, Lagos Island East Local Council Development Area, LCDA, on Tuesday.

The Lagos State Fire and Rescue Service disclosed that it received an emergency call at approximately 11:50 a.m., prompting the immediate deployment of a rescue team from the Ebute Elefun Fire Station.

According to the agency, firefighters arrived at the scene within five minutes of receiving the distress alert and quickly commenced rescue operations.

The trapped occupant was successfully freed from the elevator without sustaining any injuries.

Preliminary findings by the agency indicated that the incident resulted from an accidental malfunction of the lift.

Confirming the successful rescue, the Controller General of the Lagos State Fire and Rescue Service, Margaret Adeseye, said no casualties or injuries were recorded during the operation.

The agency reaffirmed its commitment to responding promptly to emergencies and ensuring the safety of residents across the state.