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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.

by admin — January 14, 2026 in News 0

FG enforces 0.5% levy on fuel wholesalers

The 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.

by admin — January 14, 2026 in Business 0

SAHCO seals fresh deals, expands airline portfolio

Skyway 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.”

by admin — January 14, 2026 in Business 0

MultiChoice Nigeria appoints new CEO

MultiChoice 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.

by admin — January 14, 2026 in Business 0

Pension Broad Index leads NGX with 59.72% return

The NGX Pension Broad Index, which tracks pension-compliant equities on the Nigerian Exchange, recorded a return of 59.72 per cent in 2025, outperforming the broader market as measured by the NGX All-Share Index.

Data from the Exchange showed that the Pension Broad Index closed the year at 2,917.84 points, rising from 1,826.89 points at the end of 2024. In comparison, the All-Share Index gained 51.19 per cent over the same period, highlighting the stronger performance of equities eligible for pension fund investment.

The Pension Broad Index comprises stocks that meet the investment eligibility criteria set by the National Pension Commission, making it a benchmark for Pension Fund Administrators seeking to comply with regulatory requirements while pursuing competitive returns.

The index includes a diversified mix of equities across key sectors such as financial services, telecommunications, consumer goods, industrials and energy. Analysts said this broad sectoral exposure helped support performance during a year marked by strong market activity and improved investor sentiment.

The Pension Broad Index outperformed the All-Share Index by more than 850 basis points in 2025, reinforcing the capacity of pension-compliant equities to deliver strong, risk-adjusted returns over the long term.

Market analysts noted that the performance underscores the growing influence of pension assets in Nigeria’s capital market, as well as the role of transparent, rules-based indices in supporting portfolio construction and long-term retirement planning.

The Nigerian Exchange said it will continue to engage with the National Pension Commission and Pension Fund Administrators to promote market education, data analytics and the development of pension-focused investment products aimed at deepening participation in the equities market.

by admin — January 14, 2026 in Business 0

Abia: Disunity, sabotage caused APC past defeat in Abia – Ononogbu

Chairman of the All Progressive Congress, APC, Abia State chapter, Kingsley Ononogbu has identified disunity among the party members and sabotage of party’s interests as some of the factors that stopped APC from winning Abia State during the 2023 election.

Ononogbu, who was speaking to journalists on Monday in his office after receiving the members of Renewed Hope Ambassadors, said that the identified mistakes have now been corrected, for the 2027 task.

The Abia APC Chairman said that his party was working hard to win the 2027 election in Abia, and appealed to all party members to shun sabotage but to work in one direction to achieve the party’s goals.

“We have suffered defeat in the past that came from disunity, so the only positive thing to learn from that is that there must be collaboration, accommodation and sensitivity to other people’s feelings”, Ononogbu said.

He promised to support the Abia State chapter of Renewed Hope Ambassadors, led by Abia State Coordinator, Henry Ikoh and other support groups in their grassroots sensitisation drives.

Speaking earlier at APC office in Umuahia during his team’s visit, the Abia State Coordinator Renewed Hope Ambassadors, Henry Ikoh said the group was working hard to ensure the victory of President Bola Tinubu and his party, the APC in the State.

by admin — January 13, 2026 in News 0

2027: ADC inaugurates transitional, membership registration committees in Borno

African Democratic Congress, ADC, in Borno State has inaugurated its Transitional Committee and Membership Registration Committee as part of preparations for the 2027 general elections.

The inauguration ceremony was held on Monday, January 12, 2026, in Maiduguri and was attended by party leaders and members from across the state.

The ADC Deputy National Chairman (North-East), Babagana Buhari, attended the event.

The Transitional Committee is chaired by Alhaji Ali Wurge, with Fali Wabulari as secretary. The Membership Registration Committee is headed by Peter Biye, while Kolo Bukar serves as secretary.

Other party leaders inaugurated at the event include Kashim Imam Matawalle, Nicolas Msheliza, former Speaker of the Borno State House of Assembly, Bulama Fugu, Attom Magira, Umar Alkali Nasco, Umara Kumalia, Tijjani Amadu Yarwama, Fatima Zarah, Mohammad Ali Jajari, Hauwa Kwajafa, Bukar Kachallah, Sadiq Mamman Gadai, Lawan Kolomi and Babakura Abba Yusuf.

Speaking at the event, Kashim Imam Matawalle urged party members to remain united and committed as the ADC intensifies preparations for the next general elections.

Party officials said the inauguration of the committees is aimed at strengthening party structures, enhancing membership registration and improving grassroots mobilisation ahead of the 2027 polls.

by admin — January 13, 2026 in News 0

Three arms of government have failed Nigerians – Tambuwal

Former Sokoto State Governor, Aminu Tambuwal has said that all arms of government have failed the People of Nigeria.

Tambuwal stated this on Monday while fielding questions in an interview on ‘Prime Time’, a programme on Arise Television.

He maintained that the electoral process is one policy decision that has negatively impacted the people.

The former Speaker of the House of Representatives, also alleged that the manner in which the current administration removed fuel subsidy without any alternatives affected Nigerians very negatively.

“I believe that as of today, it’s all the three arms of government that have failed Nigerians. At certain times in the past, you may find the executive arm wobbling and the legislature coming in through checks and balances, through the constitutional framework and strengthening things and reposition the government.

“You find the judiciary also having some challenges and then somehow interventions come in. But today, it’s all the levels.

“When you talk about democracy, part of the policy decisions that have negatively impacted I believe is the electoral process and closely related to the issues of governance and what we find today,” the former Sokoto governor stated.

by admin — January 13, 2026 in News 0

Kwara warns against illegal dumping of waste

Kwara State Government has issued a strong warning to the general public, particularly road users and residents along the Tunde Idiagbon Airport Road axis in Ilorin, the state capital, to desist from indiscriminate dumping of refuse along the roadside.

Such acts, the government warned, would henceforth be treated as environmental abuse and indiscipline, punishable under existing environmental laws.

The General Manager of the Kwara State Environmental Protection Agency (KWEPA), Jide Aina, gave the warning while actively participating in a special clean-up exercise along Airport Road.

He expressed deep concern over the persistent misuse of the area, which has regrettably been turned into an illegal dumpsite by some unpatriotic individuals.

Aina lamented that despite the proactive intervention of the Kwara State Government through the Ministry of Environment, particularly the provision of four large Roro bins to facilitate proper waste disposal, some residents continue to dump refuse indiscriminately along the road setback.

He described the situation as unacceptable and a clear disregard for government efforts aimed at promoting a clean, safe, and healthy environment.

The KWEPA boss also condemned the practice of open burning of refuse along the road, warning that it poses serious environmental and public health risks to both residents and road users.

He stressed that illegal dumping and open burning of waste are criminal offences under the state environmental laws and will no longer be tolerated.

According to him, KWEPA, in collaboration with the Ministry of Environment, has deployed environmental monitoring and enforcement teams to the affected areas.

He warned that any individual caught engaging in illegal dumping, open burning, or related environmental offences would be arrested and prosecuted in accordance with the law.

Jide Aina called on residents across the state to support the government’s environmental sanitation drive by adopting responsible waste disposal practices.

He emphasized that environmental cleanliness is a collective responsibility and a civic duty essential for public health, safety, and sustainable development.

The clean-up exercise attracted the participation of top government officials, including the Commissioner for Environment, the Permanent Secretary of the Ministry of Environment, and other senior officials, underscoring the state government’s commitment to restoring and sustaining a clean, safe, and environmentally friendly state.

by admin — January 13, 2026 in News 0

BREAKING: Suspected herdsmen hit Otukpo community, kill four, others missing

Gunmen suspected to be herdsmen have again struck Otobi-Akpa community in Otukpo Local Government Area of Benue State, killing no fewer than four residents in a midnight attack.

It was gathered that the assailants, said to be heavily armed, invaded the community around 12:00 a.m. on Tuesday, shooting sporadically and forcing residents to flee for safety.

The attack, which lasted for several hours, claimed the lives of Hon. Ochi Ayedu, Eje Uzu, Alinko, and Achibi, while several other residents are still unaccounted for as of the time of filing this report.

This latest incident comes just months after a deadly assault on the same Otobi-Akpa community, during which at least 13 people were killed, many others injured or reported missing, and more than 50 houses razed.

by admin — January 13, 2026 in News 0