Customs seize N6.38bn contraband at Apapa port

The Nigeria Customs Service said it seized 13 containers of prohibited, expired, and falsely declared goods worth over N6.38bn at Apapa Port.

The Comptroller-General of Customs, Adewale Adeniyi, disclosed this while addressing newsmen at the APMT Terminals in Apapa on Tuesday. Adeniyi explained that officers of the command uncovered the contraband following detailed scanning analysis and physical examination.

Giving details of the seizures, he said that a 40-foot container with a registration number was conveying large quantities of expired pharmaceutical products.

Adeniyi added that another two 40-foot containers with registration numbers, MRSU 4584911 and MRSU 6913370, respectively, were conveying large consignments of Hyegra 200 and Sildenafil Citrate, unregistered pharmaceuticals.

He also stated that another 20-foot container with registration number, MRKU 8830266, conveying 800 cartons of codeine was deliberately concealed inside toilet flushing cisterns and sanitary ware, and a 40-foot container (MRSU 5147562) conveying cartons of Artesunate 60 injections.

He hinted that a 20-foot container with registration number, PCIU 286888, was conveying restricted security equipment, including bulletproof vests, helmets, walkie-talkies, and tactical torches, without the End User Certificates.

“Additional seizures include: a 20-foot container with registration number, TCLU 3819607, conveying expired muffin cookie biscuits; a 20-foot container with registration number, UGMU 8692902, containing 36,000 cans of expired Primo energy drinks; a 20-foot container with registration number, SUDU 1696593, loaded with expired tomato paste; and another 20-foot container with registration number, TCLU 1923314, containing expired tomato paste.

“A 40-foot container with registration number, TCNU 7257465, containing 1,700 cartons of codeine cough syrup concealed with luxury food flasks. Another 40-foot container with registration number CAAU 8375050 was found to contain 1,575 cartons of CSMIX with codeine concealed with 156 cartons of electric kettles, alongside additional pharmaceutical seizures including 13 cartons of Bristol brand Co-codamol 500mg and two cartons of Zevita brand Co-codamol 500mg,” he said.

He added that officers also intercepted 13 jumbo bags of cannabis sativa, commonly known as Colorado, weighing 347.57kg, concealed inside a Toyota Sienna vehicle with chassis number 5TDDK3DC7DS057669. “The cumulative duty paid value of the various seizures is N6.38bn,” he stated.

Adeniyi said the importation of expired drugs and controlled substances poses a direct threat to public health, while the concealment of codeine-based products represents a calculated attempt to fuel substance abuse and undermine the nation’s healthcare system.

He warned that Apapa Port is no longer a playground for smugglers or criminal syndicates hiding behind legitimate trade documentation. Adeniyi announced that in accordance with the NCS Act, 2023, the consignments are liable to outright forfeiture, while penalties will be imposed, evaded revenues recovered, and all persons connected to the shipments will face prosecution.

He said Apapa Port remains Nigeria’s busiest maritime gateway and one of the most strategic trade corridors in West Africa, adding that the service had been working closely with government agencies and industry stakeholders to address the persistent challenge of port congestion and improve efficiency across Nigeria’s maritime gateways.

“Measures such as the recent launch of the Green Channel at Lekki Deep Seaport are part of our broader strategy to accelerate cargo clearance for compliant traders and strengthen enforcement against high-risk consignments. Today’s engagement should therefore be seen as part of that continuing effort to modernise our cargo control processes,” he said.

According to him, as the volume of trade passing through Nigerian ports continues to grow, the responsibility placed on the service becomes even greater. He added that thousands of containers pass through this port every day, carrying goods that support businesses, sustain industries, and drive the national economy.

Adeniyi mentioned that while the mandate of the NCS requires trade facilitation, “we must also ensure that our ports are not exploited by criminals.”

“Current operational data from Apapa Port shows that 3,236 consignments were processed through the Orange channel (Non-Intrusive Inspection – scanning), 5,490 through the Yellow channel (documentary checks), while a significantly higher 21,373 consignments were subjected to full physical examination under the Red channel.

Union Bank of Nigeria marks International Women’s Month 2026 with inclusion-first “Give to Gain” campaign

Union Bank marks 2026 International Women's month with 'Give to Gain'  campaign - Blueprint Newspapers Limited
 In observance of International Women’s Month 2026, Union Bank of Nigeria reaffirms its commitment to gender equity through a focused initiative centred on women living with disabilities and women raising children with disabilities.
Aligned with the global theme “Give to Gain,” the Bank’s campaign “Give to Gain: Creating Pathways for Inclusion and Endless Opportunities” centres the lived experiences of women living with disabilities and underscores the need for intentional systems of support for social and economic advancement.
Throughout March, Union Bank will implement targeted initiatives to expand access, foster inclusion, and unlock sustainable opportunities. Activities include a flagship event which held at The Stable, its multipurpose venue in Surulere, Lagos, on Saturday. The event convened women with disabilities, caregivers, supporting organisations, and advocates for dialogue, mentorship, and resource sharing.
Complementary efforts include outreach to disability support facilities and collaboration with educational institutions to distribute learning materials to female students with disabilities. Tailored mentorship programmes will build confidence and capability in education, entrepreneurship, and careers. Through its women’s banking proposition alpher and strategic partnerships, the Bank will also deliver business sustainability training specifically designed for women living with disabilities and women raising children with disabilities.
Internally, Union Bank will activate WeHub — its employee-led women’s network — to strengthen inclusive culture and support professional growth across the organisation.
These actions reflect Union Bank’s long-standing commitment to advancing equity for underserved communities — and align with the United Nations Sustainable Development Goals 5 (Gender Equality) and 10 (Reduced Inequalities). For Union Bank, these are not frameworks to cite; they are commitments to live out.
Olufunmilola Aluko, Chief Brand and Marketing Officer, Union Bank of Nigeria, stated that
“At Union Bank, inclusion is not an abstract ideal; it is a deliberate choice. While many conversations around women’s empowerment are important and necessary, women living with disabilities and women raising children with disabilities are too often left out entirely. This year’s theme, ‘Give to Gain,’ reflects exactly what we believe: that when we intentionally open access, support, and opportunity to these women, the value created extends to families, communities, and society at large.”
Union Bank’s IWD 2026 campaign is a statement of intent: that true inclusion requires us to go further, reach deeper, and serve those who have waited longest for a seat at the table. In 2026, Union Bank is committed to ensuring that a seat exists — and that it is built to last.
Established in 1917, Union Bank is a leading provider of financial services in Nigeria, renowned for its “Simpler, Smarter Banking” philosophy. With a nationwide network and a strong focus on digital innovation, Union Bank continues to empower individuals, businesses, and the public sector to achieve lasting success.
The Bank is a trusted and recognisable brand with an extensive network of over 300 branches across Nigeria. The Bank offers a range of banking services to individual to and corporate clients, including current, savings, and deposit account services, funds transfer, foreign currency domiciliation, loans, overdrafts, equipment leasing, and trade finance. The Bank also offers customers convenient electronic banking channels and products, including Online Banking, Mobile Banking, Debit Cards, ATMs, and POS Systems.
Zamfara: Matawalle welcomes Gov Lawal to APC

Minister of State for Defence, Bello Matawalle, has welcomed Dauda Lawal, Governor of Zamfara State, to the All Progressives Congress, APC.

Lawal reportedly defected to the ruling party on Monday, represented by the deputy governor and members of the state executive council, with APC flags displayed at the Government House.

In a statement shared on his X account, Matawalle described the development as a significant moment in the political history of the state and the country.

He said the governor’s move to the APC would strengthen collective efforts to address challenges facing the state, particularly insecurity.

According to Matawalle, the development would also help advance the “Renewed Hope” agenda of President Bola Ahmed Tinubu.

“Today marks a historic moment in the political history of our state and our dear nation as we welcome a friend and brother, the Executive Governor of Zamfara State, His Excellency Dauda Lawal, into our great party, the APC,” he said.

Matawalle added that politics should be seen as a means of building unity rather than division, describing Lawal’s defection as a political reunion.

He also called on party members to unite ahead of the 2027 Nigerian general elections, expressing confidence that the party would work together to achieve victory.

“As a progressive, I will support Governor Dauda Lawal in pursuing our collective vision for a more secure and prosperous Zamfara State,” he said.

2027: ADC guber aspirant raises alarm over destruction of billboards

A gubernatorial aspirant on the platform of African Democratic Congress (ADC), in Oyo State, Chief Adegboyega Adegoke has raised an alarm over the destruction of his billboards in Ibadan.

Adegoke who doubles as the Aare Egbe-Omo Balogun of Ibadanland made this declaration in a statement issued in Ibadan, the state capital, on Tuesday morning.

DAILY POST reports that Adegoke recently dumped the ruling Peoples Democratic Party (PDP) in the state and joined ADC.

The ADC chieftain said that some of his billboards had been destroyed a few hours after he joined the ADC.

He added that those who destroyed the billboards were afraid of his popularity ahead of the forthcoming gubernatorial election in the state.

Adegoke, however, said that he will not be intimidated by this development.

He said, “destruction of my billboards, other illegal acts will not deter me.”

Dangote: Tinubu presidency keeps mum as fuel price hits N1,400 per liter

Nigerians are in serious trouble as the premium motor spirit price rose to N1,400 per liter and Automotive Gas Oil (diesel) to N1,750 after Dangote Refinery hiked its gantry fuel price to N1,175 per liter for petrol and N1,620 per liter on Monday.

DAILY POST reports that while the fuel price keeps rising, President Bola Ahmed Tinubu has kept mum and done nothing to ameliorate the surge.

Presidency keeps mum

When DAILY POST reporter contacted presidential spokesperson, Sunday Dare for a response on the burgeoning fuel price, he did not reply as of the time of filing the report.

Checks by DAILY POST on Monday evening showed that Ranoil, Empire, and other filling stations in Abuja and environs have immediately raised their petrol and diesel prices to between N1,350 and N1,400 per liter, respectively.

Diesel price hits N1,750 per litre

For diesel, the price may have to go up as high as N1,750 per liter in filling stations in Abuja, up from around N1,365 per liter.

Meanwhile, MRS filling station sells fuel at N1,200 per litre.

A manager at an MRS filling station in Abuja, who preferred anonymity, told DAILY POST that its fuel price would rise to N1200 per liter from Tuesday 10th March, 2026, up from N1,092 per liter.

“From tomorrow (Tuesday) we will start selling fuel at N1200 per liter. We did not have petrol on Monday,” he told DAILY POST.

DAILY POST reports that the price of petrol has risen by N525 per liter at Nigerian National Petroleum Company Limited retail outlets and other filling stations before the Iran-United States-Israel war escalated on February 28, 2026.

This comes as Dangote Refinery hiked its gantry price by N376 per liter in the last ten days to N1,175 per liter as of Monday evening.

The refinery attributed the gantry price hike on Monday to global crude price volatility.

DAILY POST reports that Brent crude surged by 6.76 on a day-to-day basis to $98.86 per barrel, while West Texas Intermediate dropped to $88.11 per barrel after an indication emerged that United States President Donald hinted at a plan to end hostility with Iran.

Trump hints at possible end to War as WTI crude price drops

Speaking with CBN news, Trump said “I think the war is very complete, pretty much”, and said the US was “very far ahead of schedule”.

His comment has made WTI crude plunge below 90 per barrel on Monday, the first decline since the conflict in the Gulf region escalated, creating anxiety in the Strait of Hormuz waterway and shutting down refineries in Saudi Arabia and Qatar.

Effect of transport fare hike on Nigerians

Several transporters in Abuja confirmed to DAILY POST a transportation fare hike as a ripple effect of Dangote Refinery’s price adjustment to N1,175 and petrol retail price to a maximum of N1,400 per liter and diesel at N1,750 per liter.

Adamu Abubakar, a taxi driver plying the Deidei to Area 1 route, said he has raised his price to N1,500 per trip from N1,200.

“It is our passengers that would take the brunt of the fuel price hike,” he told DAILY POST.

Constance Onuoha, a passenger in Abuja, confirmed the transportation fare hike.

“The government needs to intervene to prevent the fare hike due to the fuel price increment from getting out of hand,” she said.

DAILY POST reports that the hikes may also impact manufacturers, as the diesel price hike may trigger a product price hike in the coming days.

Fuel, diesel, may hit N2,000 or N3,000 per liter — PETROAN

Speaking on the development, the national president of the Petroleum Products Retail Outlets Owners Association of Nigeria, Billy Gillis-Harry, said the petrol and diesel prices may surge to N2,000 and N3,000 per liter if nothing was done.

He said, “We have a Naira-for-crude deal in place. However, the policy does not impact the crude oil price on the international crude oil market.

“The policy is only saving the dollar because the volatility of the currency is dependent on imports. Dangote has increased the petrol gantry price thrice due to the market realities.

“This is why we have urged the regulators to work towards a price stability programme without regulating price,” he told DAILY POST.

Petroleum Marketers speak, explain only benefit of Dangote Refinery to Nigerians

On his part, Chinedu Ukadike, spokesperson of the Independent Petroleum Marketers Association of Nigeria and the Nigerian Oil and Gas Suppliers Association (NOGASA), told DAILY POST exclusively that marketers would sell petrol at the price they bought from Dangote Refinery and depot owners.

“Well, we are independent marketers. Whatever we sell, we buy from Dangote Refinery and depot owners.

“The only benefit of Dangote Refinery is that there will be supply, no fuel scarcity.

“Instead of getting it at N1,200 per liter, you will be getting it at N1,800 per liter because the commodity would have been scarce,”

Why fuel subsidy removal remains strategic mistake – Kalu Aja

A financial advisor and educator, Kalu Aja, has said that the removal of the petrol subsidy would remain a strategic mistake if the savings are not directed toward critical sectors such as infrastructure, healthcare and human services.

Aja made the remark in a post on the social media platform X on Tuesday while reacting to concerns over mounting pressure on federal finances and rising debt servicing costs.

According to him, the decision to remove the subsidy would only make sense if the proceeds were transparently invested in projects that directly benefit citizens.

He alleged that the funds saved from the removal of the Premium Motor Spirit, PMS, subsidy were not being used for such purposes.

Aja accused government officials of using public resources to sustain what he described as a “fake lifestyle.”

He wrote: “The removal of the PMS subsidy remains a strategic mistake if the proceeds did not go to infrastructure, health and human service

“They removed the PMS subsidy to fund the fake lifestyle they enjoy in government.

“They are using the government to subsidise their fake lifestyle.”

Court admits AK-47 as evidence in Yelwata massacre trial

A Federal High Court in Abuja

The Federal High Court in Abuja on Monday admitted an AK-47 rifle and several naira notes as exhibits in the ongoing trial of suspects linked to the June 13, 2025, attack on Yelwata village in Guma Local Government Area of Benue State.

Justice Joyce Abdulmalik admitted the rifle as Exhibit A after the first prosecution witness, Moses Paul, a senior officer of the Nigeria Police Force Intelligence Response Unit, identified the firearm in court.

The accompanying naira notes found in the rifle were admitted as Exhibits C1 to C5, while a ballistic report confirming the weapon’s status was admitted as Exhibit B.

The Federal Government had on February 2 arraigned nine men on 57 counts of terrorism over their alleged involvement in the attack, which reportedly claimed about 150 lives.

The defendants are Ardo Lawal Mohammed Dono, Ardo Muhammadu Saidu, Alhaji Haruna Abdullahi, Yakubu Adamu, Musa Mohammed, Abubakar Adamu, Shaibu Ibrahim, Sale Mohammed and Bako Jibrin. They all pleaded not guilty to the charges.

Continuing his evidence-in-chief under questioning by the Director of Public Prosecutions of the Federation, Rotimi Oyedepo, the witness told the court that police investigation traced the crisis to the enforcement of the Benue State anti-grazing law.

According to him, the third defendant, Abdullahi, complained that his cattle and children were killed and allegedly vowed to organise a revenge attack after refusing a police invitation to resolve the dispute.

The witness further testified that the second defendant, Saidu, claimed that more than 150 cows and two of his children were killed near Yelwata and that he subsequently bought an AK-47 rifle for N1m from a man identified as Musa.

He said the investigation revealed that several community leaders, including the defendants, later held meetings in Nasarawa State, where the first defendant, Dono, allegedly directed Fulani leaders, known as Ardos, to organise and fund a coordinated attack.

Paul said Saidu later convened another meeting at his palace, where participants debated possible targets before eventually settling on Yelwata, Daudu and Udeyi, with Yelwata becoming the primary target.

He added that Abdullahi allegedly contributed N300,000 towards the operation, while Musa Mohammed contributed N200,000.

According to the witness, Abdullahi allegedly led the attack, while Saidu confessed to participating alongside five of his children, who were armed with AK-47 rifles and are still at large. He told investigators that he personally killed eight people during the assault.

Paul told the court that during the investigation, police recovered one AK-47 rifle from Saidu.

While displaying the weapon in court, he said, “The rifle has some naira notes in between because it is their belief that if you put money in an AK-47, it will answer.”

After the rifle was tendered, two defence lawyers reserved their objections while others raised none. The court subsequently admitted the firearm and the naira notes into evidence.

The witness said the rifle was later subjected to ballistic examination, and a report confirming that the weapon was recently used and functional was obtained.

However, counsel to the first defendant, Ibrahim Angulu, objected to the admissibility of the ballistic report, arguing that the witness was not the maker of the document and that it required certification as a public document.

Counsel to the second defendant aligned with the objection, while other defence lawyers reserved theirs.

In response, Oyedepo argued that the report was the original document submitted to the witness’s office during the investigation and therefore required no additional certification. After hearing both sides, the court admitted the ballistic report as evidence.

The witness also testified that Musa Mohammed, a brother of the third defendant, attended one of the planning meetings and contributed financially to the attack.

He further alleged that the eighth defendant, Shaibu Ibrahim, attended the meeting but refused to provide information to the police despite warnings.

“If the seventh and eighth defendants had given that information to the police, the police would have actively investigated, apprehended and prosecuted offenders, and could have prevented the attack,” the witness told the court.

Following the testimony, the prosecution sought to tender several statements allegedly made by the defendants during the investigation.

However, defence lawyers objected, claiming the statements were obtained under duress and in the absence of legal representation.

Justice Abdulmalik consequently ordered a trial-within-trial to determine the admissibility of the statements and adjourned proceedings to March 13.

Earlier, defence counsel had accused the police of intimidating the defendants in custody and attempting to force them to make additional statements.

Angulu told the court that the first defendant complained that police officers had visited him repeatedly in custody over the past eight months to pressure him about the case.

Responding, Oyedepo denied any attempt to intimidate the defendants, stating that investigations had already been concluded. He added that officers might have visited the correctional centre only to retrieve mobile phones allegedly taken there by the defendants.

Kwara powers 13 public hospitals with solar energy

The Kwara State Government has extended renewable energy infrastructure to more public hospitals as part of efforts to strengthen healthcare delivery and ensure uninterrupted power supply across the state.

This was disclosed in a statement issued on Monday by the management of the Kwara State Hospitals Management Board and sighted by The PUNCH in Ilorin, the state capital.

According to the statement, the initiative forms part of the government’s commitment to promoting sustainable and climate-friendly healthcare systems while improving electricity supply in public health facilities.

It explained that several hospitals have now joined other health institutions already benefiting from renewable energy systems through the installation of solar inverter solutions.

“Under the intervention, six major hospitals received 30 KVA solar inverter systems to boost their power capacity and enhance service delivery,” the statement read.

The hospitals include General Hospital Share, Specialist Hospital Jebba, General Hospital Erin-Ile, General Hospital Omu-Aran, Children’s Specialist Hospital Ilorin, and the Essential Drugs Programme.

Similarly, seven other health facilities were equipped with 10 KVA solar inverter systems to strengthen electricity supply for routine and emergency medical services.

“These facilities are Cottage Hospital Iponrin, Cottage Hospital Alapa, General Hospital Agbamu, Cottage Hospital Ilemona, General Hospital Oro-Ago, Cottage Hospital Edidi, and Cottage Hospital Idofin Odo-Ashe,” the statement noted.

The board attributed the expansion of renewable energy infrastructure to the commitment of Governor AbdulRahman AbdulRazaq to improving healthcare services and promoting environmentally sustainable initiatives across the state.

It noted that the governor’s administration has continued to prioritise healthcare infrastructural upgrades, sustainability programmes, and improved access to quality medical services for residents.

“The management of the Kwara State Hospitals Management Board remains committed to laying a long-term foundation for a stronger healthcare system in the state through strategic planning, effective coordination, and continuous efforts to improve the operational efficiency of government hospitals,” said Dr Abdulraheem Malik, Executive Secretary of the board.

“Our proactive deployment of renewable energy solutions in health facilities is helping to build a more resilient healthcare system while reducing dependence on fossil fuels and unstable electricity supply,” he added.

The board explained that the installations would stabilise electricity supply, reduce reliance on fuel-powered generators, and guarantee uninterrupted power for critical units such as laboratories, maternity services, cold-chain storage, and emergency care departments, thereby improving the overall quality of healthcare delivery in the state.

SEC urges stronger women participation in capital market

The Securities and Exchange Commission and industry experts on Monday called for stronger participation of women in Nigeria’s capital market, stressing that female professionals play a critical role in strengthening financial institutions and expanding investor confidence.

The call was made during the commemoration of International Women’s Day at the SEC headquarters in Abuja, where regulators and financial experts emphasised the need for greater female leadership, financial literacy, and investment participation across the financial ecosystem.

In his keynote address, the Director-General of the SEC, Dr Emomotimi Agama, said women had consistently served as pillars of the Nigerian capital market and deserved greater recognition for their contributions to the growth of the financial system.

Agama said the commission had witnessed the resilience, commitment, and leadership of women across different roles in the organisation and the broader capital market.

“Today, this morning, the Securities and Exchange Commission is celebrating the women who stand as pillars of the Nigerian capital market,” he said.

He added that female professionals had shown remarkable strength and passion in advancing the development of the market. The SEC boss noted that women had played an important role in shaping his professional journey, revealing that his most influential mentor during his more than two decades at the commission was a woman.

“I can proudly say, even as the Director-General of the SEC, that my main mentor at the SEC was a woman. She taught me the crucibles of the capital market. She taught me with passion, with integrity, and with values,” he said.

He also highlighted the contributions of several women who had held key leadership positions in the commission, including former SEC Director-General Arunma Oteh, former Acting Director-General Mary Uduk, and other female leaders within the organisation.

Agama said women within the commission continued to provide strong professional support that had helped drive institutional progress. He urged men to recognise the importance of women in shaping society and supporting professional growth.

Also speaking at the event, the Founder and Chief Executive Officer of MoneyWise International, Toyin Alabi, called on women to strengthen their financial decision-making and actively participate in investment opportunities within the capital market.

Alabi said many women still faced challenges in financial empowerment despite working in financial institutions or related sectors. “Truthfully, a lot of women don’t have the right empowerment in terms of the aspect of finance,” she said.

According to her, building financial independence requires women to go beyond earning income and begin to focus on savings, investment, and wealth creation. Alabi noted that many professionals understood the importance of investing but often failed to develop the discipline required to sustain long-term financial growth.

“Personal finance is 20 per cent knowledge and 80 per cent behaviour,” she said. She also warned women against fraudulent investment schemes and emphasised the importance of informed financial decisions. “The first rule of investing is that if there’s any iota of doubt or a possibility that money will be lost, don’t invest,” she added.

Alabi urged women to adopt long-term financial planning strategies and cultivate saving habits that would enable them to build sustainable wealth. “Saving money may not make you rich, but it gives you peace of mind,” she said.

In her special remarks, the Executive Commissioner for Legal and Enforcement at the SEC, Frana Chukwuogor, said women working within the capital market regulator had demonstrated remarkable resilience, professionalism, and integrity.

Chukwuogor said women within the organisation were making a significant impact not only professionally but also within their families and communities. She also urged participants to contribute positively to society by supporting education and combating financial fraud.

Chukwuogor further challenged participants to actively expose fraudulent investment schemes.

Also speaking, the Executive Commissioner for Operations at the SEC, Bola Ajomale, said women played a fundamental role in shaping society and building strong institutions. Ajomale said the commission was deliberately creating opportunities for women to thrive within the organisation and the broader capital market.

He further emphasised the importance of female leadership and mentorship within organisations. Ajomale noted that women often brought unique perspectives and thoughtful analysis to decision-making processes.

The event formed part of activities marking the 2026 International Women’s Day celebration, with participants emphasising the need to strengthen women’s inclusion and influence within Nigeria’s capital market and broader financial system.

NNPC posts N385bn profit as oil output rises

NNPC LimitedThe Nigerian National Petroleum Company Limited recorded a profit after tax of N385bn in January 2026, even as crude oil and condensate production rose to 1.64 million barrels per day, according to the firm’s latest monthly operational report.

The January 2026 NNPC Monthly Report Summary, released on Monday, showed that the state-owned energy company generated N2.571tn in revenue during the month while remitting N726bn as statutory payments to the Federation.

This means the company recorded a sharp 47 per cent decline in its monthly revenue, which fell from N4.82tn in December 2025 to N2.57tn in January 2026. This contraction came despite a marginal increase in the company’s profit after tax.

The report indicated that production recovery during the month was driven largely by the completion of maintenance work at key offshore assets, particularly the Agbami field, as well as operational improvements in other upstream facilities.

It disclosed that Nigeria produced 1.64 million barrels per day, up from 1.55 million barrels per day recorded in December 2025. This represents an increase of 0.09mbpd, or about 5.8 per cent month-on-month.

The development indicates a partial recovery from the production slowdown recorded in the last quarter of 2025, when output had slipped to around 1.54mbpd in October and 1.55mbpd in December.

According to the report, “Production increased month-on-month following the completion of Turn Around Maintenance at Agbami and Renaissance (Estuary Area – EA).”

However, the company noted that operational challenges still affected crude delivery volumes.

It stated, “Despite the improved production profile, planned deliveries for January were reduced due to adverse weather conditions, evacuation constraints, and asset integrity challenges across some production corridors.”

The report also showed that natural gas production rose to 7,283 million standard cubic feet per day, representing a rebound from 6,914 mmscf/d recorded in December 2025.

Gas production had fluctuated throughout 2025, reaching a high of about 7,722 mmscf/d in July before declining later in the year due to operational and supply disruptions. This translates to an increase of 369mmscf/d, representing a 5.3 per cent rise month-on-month.

The rebound suggests stronger upstream performance after several months of fluctuations in 2025, when gas production fell sharply to 6,284mmscf/d in September before gradually recovering towards the end of the year.

Despite these fluctuations, gas production in January reflected renewed output stability as infrastructure upgrades and upstream operations improved. Gas sales also strengthened during the period, with the report indicating that the company sold about 4,978 mmscf/d of gas, one of the highest levels recorded within the past year.

The increase of 224mmscf/d represents growth of about 4.7 per cent month-on-month. This suggests improved gas delivery to power plants, industrial users, and export channels.