FAAN defends MM2 concession review, seeks stability

FAANThe Managing Director of the Federal Airports Authority of Nigeria, Olubunmi Kuku, has explained that the Federal Government’s decision to renegotiate the concession agreement for the Murtala Muhammed Airport Terminal II was aimed at restoring investor confidence, ensuring fairness and resolving years of disputes surrounding one of Nigeria’s most controversial public-private partnership projects in the aviation industry.

Speaking on the importance of successful PPP models in infrastructure development at the African Air Transport Convention and Expo 2026 in Togo, Kuku said the sustainability of such arrangements goes beyond access to capital and depends largely on institutional credibility, regulatory certainty and project discipline.

According to Kuku, who spoke on the second day of the event during a panel discussion titled, “Strategic Direction on Aviation Financing and Infrastructure Development,” the current administration undertook extensive efforts to renegotiate the concession agreement, a process that has now been concluded and approved by the Federal Executive Council.

She said, “A lot of the challenges that we have seen are really around project continuity and market risks. If you look at the Nigerian example, one of the most talked-about concession projects has been the Bi-Courtney MM2 project, and it has generated a lot of noise and conflict over the years.

“I’m happy to say that within this administration, we’ve done quite a bit of work in renegotiating the contract for the concession. It’s now been resolved. It’s now been resolved at the Federal Executive Council level.”

She noted that the resolution would strengthen investor confidence in Nigeria’s infrastructure sector and serve as a framework for future concession agreements. “What that means is that it provides better investor confidence for those looking to drive PPP projects. More importantly, it ensures that future concession contracts are fair to both government and the private sector,” she added.

Kuku stressed the need for greater clarity in the management and administration of concession arrangements to prevent future disputes and improve project delivery.

Looking beyond the MM2 concession, the FAAN boss called for stronger regional commitments to infrastructure financing, particularly in aviation connectivity and transport integration.

She advocated the establishment of national aviation delivery teams that would bring together stakeholders across aviation, security, transportation and government agencies to coordinate major infrastructure projects.

“Aviation spans several sectors, from security and interior administration to transportation. Bringing all stakeholders together allows for clear collaboration around infrastructure investments and ensures the right decisions are made by the right people,” she said.

Kuku also cautioned against creating new aviation-focused financing institutions, arguing that existing financial institutions should instead develop specialised aviation desks capable of understanding industry-specific needs and supporting the development of bankable projects.

“I strongly do not support setting up new financing institutions. I’d rather the existing institutions establish specialised desks to understand the aviation environment and provide technical support for project preparation,” she said.

According to her, stronger collaboration between project promoters and financiers would improve access to funding and enhance project execution across the sector. She further emphasised the importance of commitment from both project developers and financiers, urging stakeholders to present viable projects while ensuring transparency around available financing instruments.

Citing an example, Kuku pointed to plans to extend the Lagos Red Rail Line to airport terminals, noting that opportunities exist for co-financing arrangements supported by airport-generated cash flows.

“We do have a rail project, an extension of the Red Line from Lagos into our terminals. There are opportunities for us to potentially co-finance because we have the cash flows to support that,” she said.

The FAAN chief maintained that stronger partnerships, better contract management and coordinated infrastructure planning would be critical to unlocking long-term growth in Nigeria’s aviation sector.

MDAs spend N11.8bn on fuel in four months

fuelThe Ministries, Departments and Agencies of the Federal Government have spent N11.85bn on fuel for motor vehicles and generators between January and April 2026, as elevated domestic petrol prices and renewed Iran-US tensions continue to raise concerns over energy costs and global oil market stability.

An analysis of data obtained from the Open Treasury Portal by The PUNCH showed that the amount represented a 113.4 per cent increase from the N5.55bn spent on the same items in the corresponding period of 2025.

The Open Treasury Portal is the Federal Government’s public financial transparency platform, which publishes budget implementation, payment and fiscal data of ministries, departments and agencies to improve accountability in public spending.

While the Open Treasury Portal does not disclose a detailed breakdown by ministry, department or agency under the expenditure category, the figures represent fuel and related operating costs incurred by Federal Government entities financed from the federal budget.

The data showed that motor vehicle fuel cost rose by 108.2 per cent from N3.17bn in the first four months of 2025 to N6.60bn in the same period of 2026.

In April 2026 alone, the government spent N2.94bn on motor vehicle fuel, compared with N1.73bn in April 2025. The approved budget for motor vehicle fuel also increased from N122.63bn in 2025 to N207.37bn in 2026, indicating an increase of N84.74bn or 69.1 per cent.

Despite the rise, only 3.18 per cent of the 2026 motor vehicle fuel budget had been spent as of April, leaving a balance of N200.77bn. Spending on plant and generator fuel also rose sharply from N2.38bn in the first four months of 2025 to N5.24bn in the same period of 2026, representing an increase of N2.86bn or 120.3 per cent.

The April actual spending on generator fuel stood at N2.99bn in 2026, compared with N1.37bn in April 2025. The budget for plant and generator fuel increased from N104.40bn in 2025 to N185.80bn in 2026, while execution stood at 2.82 per cent as of April.

Combined, the 2026 budget for vehicle and generator fuel stood at N393.18bn, compared with N227.02bn in 2025. This means the allocation rose by N166.15bn or 73.2 per cent year-on-year.

Although Nigeria is a crude oil producer, higher global crude prices often feed into domestic petrol costs because the downstream market is largely deregulated and petrol prices now respond more directly to landing costs, refining margins and exchange rate pressures.

The implication is that ministries, departments and agencies may face higher operating costs if petrol prices remain elevated, especially for transportation, power generation and field operations.

Beyond vehicle and generator fuel, other fuel-related spending also rose significantly in 2026. The government spent N2.25bn on other transport equipment fuel in the first four months of 2026, compared with just N92.07m in the same period of 2025. Aircraft fuel cost also rose from N702.30m to N8.01bn, while sea boat fuel increased from N1.50bn to N8.76bn.

Cooking gas and fuel costs rose from N47.88m in the first four months of 2025 to N104.65m in the corresponding period of 2026. Altogether, spending on other transport equipment fuel, aircraft fuel, sea boat fuel, and cooking gas rose from N2.35bn in 2025 to N19.13bn in 2026, an increase of N16.78bn or 715.5 per cent.

Sea boat fuel recorded the highest budget execution rate among the listed fuel items at 8.02 per cent, followed by aircraft fuel at 4.55 per cent and other transport equipment fuel at 4.40 per cent.

The data further showed that the Federal Government spent N4.39bn on the maintenance of motor vehicles, transport equipment, plants and generators in the first four months of 2026. This was 164.1 per cent higher than the N1.66bn spent on the same items in the corresponding period of 2025.

Maintenance of motor vehicles and transport equipment gulped N3.04bn between January and April 2026, compared with N1.20bn in the same period of 2025. Maintenance of plants and generators also rose from N459.16m in 2025 to N1.35bn in 2026. The total 2026 budget for both maintenance items stood at N182.33bn, with N177.94bn still unspent as of April.

The sharp rise in fuel and maintenance costs underlines the pressure of high energy prices on government operations, even as public finance remains strained by debt service, security spending and rising personnel obligations.

It also raises fresh questions about the cost of running government agencies in an economy where electricity supply remains unreliable, and many public institutions still depend heavily on petrol and diesel-powered generators.

When the geopolitical tensions in the Middle East started, the Federal Government ruled out intervening to control petrol prices. The immediate past Minister of Finance, Wale Edun, said the government would not tamper with market-based pricing of petroleum products, stressing that intervention would only be considered as a last resort.

He explained that the current administration’s economic philosophy prioritises market-based pricing mechanisms for petroleum products and foreign exchange, describing them as key reforms introduced by President Bola Tinubu to remove long-standing distortions in the economy.

Edun noted that while the Middle East crisis could affect global oil markets, the government would respond through targeted policy measures rather than price controls.

Official data from the National Bureau of Statistics showed that Nigeria’s average petrol price surged by 45.8 per cent between February and April 2026, rising from N1,051.47 to N1,532.93 per litre as escalating US-Iran tensions pushed crude prices higher and filtered through to the deregulated domestic fuel market.

Industry experts, financiers, and policymakers recently called for accelerated adoption of electric vehicles in Nigeria as rising fuel prices continue to squeeze household incomes and business margins.

They noted that persistent increases in petrol prices are forcing a shift in how Nigerians approach transportation, with electric vehicles emerging as a more cost-effective alternative.

A Business Development and Strategy Manager for the Presidential Initiative on Compressed Natural Gas and Electric Vehicles, Omolara Obileye, said the financial advantage of EVs has become increasingly clear.

“Today, charging an electric vehicle for a 200-kilometre journey would cost approximately N4,500. The same journey on petrol would cost about N22,500. That represents a five-to-one cost advantage in favour of electric vehicles,” she said.

She explained that the government’s approach is focused on a gradual transition to a more sustainable energy mix. “What we are navigating is not a choice between CNG and EVs. It is a deliberate, phased energy transition. The goal is a balanced energy mix: one that serves Nigerians today while building the infrastructure required for tomorrow,” she said.

Despite growing interest, she acknowledged that infrastructure gaps, power supply challenges, and affordability concerns remain key barriers. “What we need now is visible momentum, driven by all the stakeholders represented here today,” she added.

Chief Executive Officer of Blue Camel Energy Ltd, Yusuf Suleiman, said the transition presents an opportunity to strengthen Nigeria’s economic resilience. “It is a pathway to improved energy access, a driver of industrialisation, and a foundation for economic resilience, reducing our dependence on imported fossil fuels,” he said.

He noted that the company is investing in solar-powered charging infrastructure to reduce reliance on the national grid. “In reality, charging infrastructure must be able to operate independently of the national grid. What this proves is that a 100 per cent solar-powered charging system can work as a business model,” he said.

For operators, the shift is already being driven by cost savings. Chief Operating Officer of Bankrol Camel EV, Ahmed Garba-Ahmed, said electric vehicles offer a significant reduction in operating expenses.

“Electric vehicles can reduce energy costs per kilometre by up to 60 per cent… For commercial users, ride-hailing drivers, fleet operators, and logistics companies, this is not just about sustainability. It is about margins. It is about profitability. It is about survival,” he said.

He added that the transition is already underway across segments of the transport sector. “The transition to electric mobility in Nigeria is no longer a future projection; it is already happening. The question is not if, but how fast, and who leads,” he said.

The PUNCH recently reported that renewable energy stakeholders intensified calls for the widespread adoption of solar generators in Nigeria, describing the technology as a practical and cost-effective alternative to the millions of petrol and diesel generators powering homes and businesses across the country.

The push formed the basis of discussions ahead of the inaugural Nigeria Solar Generator Day, where policymakers, investors, renewable energy firms and development partners are expected to explore ways of accelerating the deployment of solar-powered systems nationwide.

‘Voters rewarded performance’ – Yilwatda reacts as APC wins Ekiti, dominates bye-elections nationwide

National Chairman of the All Progressives Congress, APC, Prof. Nentawe Yilwatda, has described the victory of Governor Biodun Oyebanji in the Ekiti State Governorship Election and the party’s impressive performance in the recent bye-elections across the country as a clear vote of confidence in the APC, the administration of President Bola Ahmed Tinubu.

Yilwatda stated that the outcome of the elections demonstrates that Nigerians are able to distinguish between temporary economic challenges associated with reforms and the long-term benefits of responsible governance, economic restructuring, infrastructure development and institutional renewal being championed by the APC at both federal and state levels.

In a statement signed by Abimbola Tooki, the Special Adviser to the National Chairman of APC, Yilwatda said, “The overwhelming victory recorded by our great party in Ekiti State and our remarkable success in the bye-elections across the country represent a powerful endorsement of the APC’s governance philosophy.

“These results affirm that Nigerians appreciate leadership that prioritises development, accountability, stability and the welfare of the people.

“The people of Ekiti State have once again demonstrated that performance remains the most potent campaign message in democratic politics. Governor Biodun Oyebanji’s resounding re-election is a reward for visionary leadership, inclusive governance, prudent management of resources and visible developmental achievements across the state.”

Governor Oyebanji of the APC was declared winner of the Ekiti Governorship Election after securing a commanding victory across the state, reaffirming the confidence of the electorate in his administration and the APC’s developmental agenda. The party also recorded significant victories in five of the six bye-elections conducted across various states of the federation.

Yilwatda’s statement noted that the Ekiti result has further strengthened the APC’s narrative that performance-based governance remains electorally rewarding, even amid difficult economic transitions.

He said, “The Ekiti election has become a national reference point. It confirms that when governments deliver tangible results in infrastructure, education, healthcare, agriculture, youth empowerment, security and social development, citizens respond with renewed trust and overwhelming electoral support.

“This victory sends a clear message that governance, not propaganda, remains the most effective route to political legitimacy. The people of Ekiti have spoken loudly and clearly in support of continuity, stability and progress.”

The APC National Chairman described Ekiti State under Governor Oyebanji as one of the most compelling governance success stories in contemporary Nigeria, citing sustained investments in road infrastructure, rural development, human capital advancement, healthcare delivery, agricultural productivity, workers’ welfare and ease of doing business.

He said the administration has successfully built broad-based political consensus while maintaining a strong focus on development outcomes, thereby creating an environment of stability and accelerated progress.

“Ekiti today stands as a shining example of how APC governments are translating public trust into measurable development outcomes. The state’s progress under Governor Oyebanji provides a practical demonstration of our party’s commitment to people-centred governance,” he stated.

Yilwatda further stated that the election outcome should be viewed within the broader national context of President Bola Ahmed Tinubu’s reform agenda, which is gradually laying the foundation for a more resilient, productive and globally competitive Nigerian economy.

Ekiti 2026: ‘Bad day for democracy’ – ADC candidate rejects results

The African Democratic Congress, ADC, governorship candidate, Mr Dare Bejide, has rejected the Ekiti State election result.

Speaking in Ado-Ekiti on Sunday, Bejide described the election as lacking credibility.

He alleged that the exercise was conducted in “an atmosphere replica of a war zone”.

The ADC candidate accused the ruling party of engaging in vote buying through money and food distribution.

Bejide said the government should have relied on its achievements rather than struggling to influence voters.

“My immediate reaction is to reject the result in its entirety because the exercise was not credible,” he said.

He claimed some polling units, including his, witnessed a tense atmosphere during the election.

“You all witnessed what happened. Some places were almost like a war zone,” Bejide added.

He alleged that political appointees and a serving senator brought thugs and security personnel.

“In some places, it appeared the election was taking place only in my polling unit. It is a sad day for democracy,” the ADC candidate stated.

Bejide further alleged that vote buying was carried out openly at several polling units.

“Bags of money were brought to polling units, and enormous sums were spent,” he claimed. He said such actions reflected poor performance by the government.

“If they had performed well, there would have been no need to rely on money,” Bejide said.

The ADC candidate said he was still studying the election outcome before deciding his next move.

“I have not personally seen the full results; I have only heard reports on social media,” he said.

He added that his team was collating available polling unit results.

“Once we receive and analyse everything, we will brief our party members,” Bejide stated.

He said the party would decide on the appropriate course of action afterwards.

“At this stage, we are certainly not satisfied with the conduct of the election,” he said.

Bejide urged his supporters and Ekiti residents to remain peaceful and calm. “We are carefully studying the results and will know the appropriate steps to take,” he added.

Insecurity: School enrolment under threat in Nigeria as bandits’ attack rumours spread

“I didn’t go to school that Wednesday because I was sick, but my heart was beating fast for my mother to go and pick up my younger brother,” said Fatima Erena, a pupil, while recalling the unforgettable events of Wednesday 10 June, 2026.

Across parts of Minna that day, panic spread after reports circulated that bandits had attacked schools in the metropolis and abducted pupils.

Although security agencies later debunked the reports, the fear they generated was real.

Parents abandoned work and household chores, while children cried and teachers struggled to calm frightened pupils as rumours travelled faster than facts.

What happened in Minna was not an isolated incident.

From Niger to Edo, Enugu, Lagos, Ogun and Imo states, as well as Abuja, the Federal Capital Territory, reports of school attacks, kidnap threats and unverified security alerts have increasingly triggered anxiety among parents and disrupted learning.

The incidents highlight a growing reality in Nigeria’s education sector: even where no attack occurs, rumours of school kidnappings are creating real panic, disrupting learning and exposing deep fears among parents and children.

The rumours spread through communities in Bosso, and Kpakungu in Minna as well as Sabon-Wuse in Tsfa local government and Lambata in Gujarat local government, where unverified reports of alleged school attacks triggered panic among parents, pupils and school authorities.

According to pupils who spoke with DAILY POST, teachers informed students of the situation between 1 p.m. and 2 p.m.

What followed was confusion as children ran in different directions, while others anxiously waited for their parents or guardians. Some pupils broke down in tears as rumours spread across school premises.

“My younger ones were crying while we waited for our father to come and pick us,” Mercy recalled.

School authorities moved quickly to prevent panic from escalating, but the challenge was how to communicate the information without causing more fear among pupils.

Mrs Aina Ayodele, a teacher, said the development placed educators in a difficult position.

“When the information came, we initially didn’t know how to inform the children because we knew the fear and panic it would cause.

“We called their parents to come for them while we broke the news and watched over them,” she said.

Outside school premises, scenes of anxiety unfolded as worried parents rushed toward schools from different parts of Minna.

Mrs Ayodele recalled witnessing a near tragedy during the confusion.

“I was standing outside when a truck almost crushed five children from the same mother running home out of panic. By God’s grace, nothing happened,” she narrated.

When Parents Came Running

For many parents, particularly mothers, the only thing that mattered was getting their children home safely.

According to Hajiya Aisha, she immediately abandoned everything when she received a call from her children’s school.

“When I got the call from the school, I rushed out with only a wrapper tied around my chest. Halfway, I realised I was not properly covered and had to return to pick my hijab.

“My heart was beating so fast. All I cared about was the safety of my children,” she recalled.

Across Minna, similar scenes played out as worried parents boarded motorcycles, tricycles and taxis or rushed on foot to schools.

Some parents told DAILY POST that they initially dismissed the reports as rumours.

However, they quickly changed their minds, believing it was safer to verify the situation themselves than risk being caught unprepared.

One parent described the reports as “stupid lies” but admitted that no responsible parent could afford to ignore such information.

School Gates Shut, Shuttle Buses Suspended

As panic spread, several schools reportedly restricted movement and tightened access to their premises.

According to pupils interviewed by DAILY POST, school gates were closed and only parents or authorised guardians were allowed to take children home.

It was gathered that some schools with shuttle buses suspended their usual practice of conveying pupils home and instead contacted parents to personally pick up their children.

School administrators were said to have considered it safer to release pupils directly to their parents or guardians amid the uncertainty created by the reports.

For many children, the waiting was the hardest part as they watched classmates leave one after another while they waited for parents stuck in traffic or travelling from distant parts of town.

Others remained frightened by stories circulating among students, while children who lived far from school appeared particularly anxious about how long it would take for their parents to arrive.

Fear Did Not End With The Rumours

Although the reports were later debunked, many parents remained reluctant to send their children back to school immediately.

According to El-Amin, attendance dropped sharply in the days that followed, “Out of about 45 students in my class, less than 30 came when school resumed.”

Hanan Abdullahi, who also stayed away from school after the incident, said: “we didn’t go to school the next day.”

Several pupils interviewed by DAILY POST admitted that while they now feel safer, the experience left them shaken.

Some said they still think about what happened whenever conversations about insecurity arise.

Why Parents Believe The Worst

For some parents, the incident reinforced decisions they had already made regarding their children’s education.

Many parents told DAILY POST they deliberately enrolled their children in day schools instead of boarding schools because of growing insecurity.

“I don’t want my blood pressure to run high because of sending my child to boarding school.

“That is why I chose secondary schools in Minna where I can see my children every day. I have three children in secondary school and all of them are here in Minna,” said Mrs Hanatu Musa.

Several parents expressed frustration over the activities of bandits and kidnappers, saying recent developments have shown that children are no longer spared from criminal attacks.

They called on the government to rise to its constitutional responsibility of protecting lives and property, arguing that no parent should have to live in constant fear over the safety of their children while in school.

According to them, the panic witnessed in Minna and similar incidents elsewhere did not occur in a vacuum but was fuelled by painful memories of previous school abductions and insecurity across the country.

The parents maintained that while authorities may have debunked the reports, restoring public confidence would require visible security measures and sustained efforts to make schools safe.

A History That Fuels Panic

The panic witnessed in Minna and some other states reflects fears that have been building across Nigeria for years.

Parents still remember the abduction of students from Papiri, Kagara and Tegina in Niger State which attracted national and international attention.

In Kaduna State, students were abducted from schools in Afaka and other communities, while similar incidents have occurred in Borno, Kebbi, Zamfara, Katsina and other parts of the country.

Many parents also remember cases in which families struggled to raise ransom payments, while some victims reportedly died in captivity.

Pupils and teachers abducted in Oyo and Borno States are also yet to be freed weeks after.

These painful memories have created an environment where many Nigerians no longer dismiss reports of attacks on schools as impossible; instead, communities often react first and verify later.

Expert Warns Against Misinformation

Security expert and Professor of Criminology, Emmanuel Musa, said the reaction of parents was understandable given Nigeria’s history of school abductions and insecurity.

“Communities are reacting based on experience. When people have seen attacks on schools in different parts of the country, they are more likely to take every warning seriously,” he said.

Professor Musa noted that stronger communication between schools, education authorities and security agencies was necessary to prevent panic and ensure that accurate information reaches parents quickly.

He added that restoring public confidence requires continuous communication, visible security measures and reassurance that schools remain safe environments for learning.

Psychological Impact On Children

Beyond the immediate panic, education and counselling experts say incidents of this nature can leave lasting effects on children..

Mrs Mercy Amina Elaigwu, a counselling psychologist and owner of Cedar Top Academy, Dutsen Kuran Gwari, Minna, said many schools were thrown into confusion by the reports.

“A lot of schools were really scared and had to call parents to come and pick their children immediately. People were running up and down”

“After a while, the situation became calm following the police press release. However, psychologically, pupils and students were scared,” she noted

According to her, repeated security scares, whether real or rumoured, can create anxiety among children and affect their sense of safety in school environments.

Police, Education Ministry Move To Reassure Parents

Following the panic, the Niger State Police Command described the reports as false and misleading.

In a statement signed by the Police Public Relations Officer, SP Wasiu Abiodun, the command said officers visited schools in Bosso, Kpakungu, Sabon-Wuse and Lambata and found no evidence of attacks.

Abiodun also told Daily Post that in line with the School Protection Initiative, the Commissioner of Police CP Adamu Abdullah Elleman had directed Divisional Police Officers across the state to work closely with school administrators.

According to him, school operators have been advised to remain alert and promptly report suspicious activities, while officers continue to monitor schools and surrounding communities.

The police spokesman further stated that the command is working with other security agencies to ensure the continued safety of students, teachers and school communities across the state.

“For now, the areas are calm and there is no cause for alarm in our communities,” he said.

The Commissioner for Basic and Secondary Education, Dr. Hadiza Asabe Mohammed in a statement urged residents to disregard the reports and assured parents that schools remained safe and under constant monitoring.

She dismissed the reports as false, mischievous and intended to create unnecessary fear among parents, students and teachers.

The ministry assured parents that schools remain under constant monitoring and that security measures have been strengthened to guarantee the protection of students.

Not Just A Minna Problem

What happened in Minna mirrors developments recorded in other parts of the country where rumours, security alerts and kidnapping threats have triggered anxiety among parents and school authorities.

In Edo State, schools in Ososo and Makeke communities of Akoko-Edo Local Government Area were temporarily shut following security concerns and fears of possible attacks

In Enugu State, police were forced to debunk viral reports alleging that armed herdsmen attacked a school in Ezeagu and Igbo-Eze South Local Government Areas, warning that the false information was capable of creating panic among pupils, parents and school administrators

Similar fears have surfaced in other parts of the country as communities remain sensitive to reports involving schools and children because of Nigeria’s long history of school abductions.

The Hidden Cost Of Fear

Nigeria’s education sector has endured years of disruption caused by insecurity, ranging from school abductions and attacks to threats and rumours that trigger panic among parents and pupils.

According to UNICEF, Nigeria has about 18.3 million out-of-school children, comprising about 10.2 million children at the primary level and 8.1 million at the junior secondary level, making the country home to one of the largest populations of out-of-school children in the world.

Insecurity remains one of the factors affecting school enrolment and attendance in some parts of the country.

Education experts warn that repeated security scares can leave lasting psychological effects on children and affect their willingness to attend school.

In Minna, some of the signs were already visible as attendance dropped in some classrooms in the days following the rumoured attacks.

Interviews conducted by DAILY POST also suggest that while many parents were deeply frightened by the reports, some deliberately downplayed their fears before their children.

Mob violence threatens right to life in Nigeria – Amnesty International

Amnesty International has raised serious concern over the rising cases of mob violence in Nigeria, describing it as one of the biggest threats to the right to life in the country.

The organisation made this known in a post shared on its official X handle on Sunday, where it criticised the failure of authorities to properly investigate and prosecute those involved in such killings.

According to Amnesty, the continued occurrence of mob attacks, with little accountability, shows a major gap in the country’s justice system.

“The menace of mob violence is perhaps one of the biggest threats to the right to life in Nigeria,” the organisation said.

It added that the situation has persisted for years, with very few cases leading to arrests or convictions.

“The fact that these killings have been happening for a long time, with few cases investigated and prosecuted, highlights the authorities’ shocking failure to protect people from harm and violence,” it stated.

Amnesty also pointed out that the pattern of mob violence differs across regions in Nigeria.

In the southern part of the country, it said such attacks are often targeted at people accused of theft, ritual activities, or witchcraft.

However, in the northern region, the organisation noted that mob violence is mostly directed at individuals accused of blasphemy, sometimes with the backing of religious figures.

It called on authorities to take decisive steps to protect citizens, ensure proper investigations, and bring perpetrators to justice.

Lagos Task Force impounds 278 illegal okada in one week

Lagos State Task Force has impounded 278 illegal commercial motorcycles, popularly known as Okada, during a weeklong enforcement operation carried out across different parts of the state.

The enforcement exercise targeted operators violating the ban on commercial motorcycles on highways and restricted routes, as provided under the Lagos State Transport Sector Reform Law of 2018.

The operation followed an earlier crackdown conducted weeks ago and forms part of ongoing efforts by the state government to strengthen security and safeguard lives and property in line with the renewed enforcement drive championed by the Commissioner of Police, Mr Fatai Tijani.

Areas covered during the operation included Ikorodu, Agric Bus Stop, Festac First Gate, Mazamaza, Iyana School, Iyana-Iba, Idimu Road, Egbeda, Kola Bus Stop, Iyana Ipaja, Ikotun Roundabout, Ijaiye in Ojokoro, Berger Bus Stop, Ojodu, Akowonjo Roundabout, Igando Bus Stop, LASU-Iba Road and Pipeline Road in Idimu.

According to the Task Force, several riders were apprehended for operating on prohibited routes and major highways in defiance of traffic and public safety regulations.

The agency also disclosed that some of the riders were caught transporting hazardous materials, including petroleum products and gas cylinders, while others were found carrying school children and toddlers in unsafe conditions on busy roads.

Authorities stated that the impounded motorcycles would undergo legal processing for possible forfeiture to the Lagos State Government through the courts in accordance with the provisions of the 2018 transport law.

Chairman of the Lagos State Task Force, Chief Superintendent of Police Adetayo Akerele, said the enforcement exercise would continue until operators comply fully with the law.

“We will not be cowed or fold our arms and allow people of criminal intent to overrun Lagos or surrender to their illegalities,” he said.

Obtain prior approval for major shareholding changes – NCC, CAC tell telecom firms

The Nigerian Communications Commission (NCC) and the Corporate Affairs Commission (CAC) have directed telecommunications companies to obtain regulatory approval before making significant changes in their ownership structures.

In a statement jointly signed by NCC Director of Public Affairs, Nnenna Ukoha, and CAC Head of Public Affairs, Rasheed Mahe, on Sunday, both agencies warned that any proposed transfer of ownership or control of shares in an NCC-licensed company amounting to 10 per cent or more of its total share capital must be accompanied with a Letter of No Objection from the NCC before CAC can effect such changes.

According to the statement, the requirement takes immediate effect and also applies to a series of share transfers that, when aggregated, exceed 10 per cent of the total share capital of a licensee.

The agencies said the directive is backed by Section 90 of the Nigerian Communications Act (NCA) 2003, Regulation 28(2) of the Competition Practices Regulations, 2007, and Regulation 42 of the Licensing Regulations, 2019, which empower the NCC to oversee transactions affecting licensees and promote fair competition in the sector.

Under the new arrangement, the CAC will ensure that all applications seeking registration of changes in shareholding structures involving 10 per cent or more of a telecommunications company’s shares are accompanied by evidence of the NCC’s prior consent and approval.

The NCC and CAC said the measure is aimed at preserving a fair and competitive market structure in the communications sector by preventing direct or indirect anti-competitive practices.

They added that the policy would strengthen regulatory oversight of significant ownership and control changes, while promoting transparency, investor confidence, and regulatory certainty.

“The requirement is designed to preserve a fair and competitive market structure within the communications sector by preventing direct or indirect anti-competitive practices, while strengthening regulatory oversight of significant changes in ownership and control,” the statement read.

The agencies further noted that the initiative would help safeguard the long-term sustainability and stability of Nigeria’s communications industry.

Reaffirming their commitment to collaboration, the NCC and CAC pledged to continue working together to promote a transparent, stable, and competitive business environment.

“Both agencies will continue to work closely to promote regulatory certainty, ensure fair market practices, and support the orderly and sustainable development of Nigeria’s communications sector,” the statement added.

Cornerstone Insurance eyes growth after Q1 results

Cornerstone Insurance eyes growth after Q1 resultsThe Managing Director and Chief Executive Officer of Cornerstone Insurance Plc, Stephen Alangbo, has assured the investing public that the firm is well‑positioned for sustainable growth as it announced its unaudited financial results for the first quarter ended 31 March 31, 2026.

The company registered a strong expansion in its top‑line revenue, posting a total consolidated insurance revenue of N14.01bn for the three months. This figure marks a significant 25.2 per cent growth compared to the N11.19bn generated during the corresponding quarter of 2025, demonstrating strong underlying performance across both its corporate life and non‑life underwriting business segments.

Speaking on the financial performance of the company in a regulatory filing to the Nigerian Exchange Group Limited, Alangbo said, “We are navigating macro challenges to deliver value.”

Despite this commercial momentum, severe macroeconomic headwinds in the domestic environment, particularly aggressive currency volatility, impacted the group’s final bottom line. Cornerstone Insurance posted a consolidated profit after tax of N1.48bn, representing a mild contraction from the N1.65bn recorded in the first quarter of the prior year, primarily weighed down by a substantial foreign exchange loss of N1.81bn.

Conversely, at the separate parent company level, the firm reported excellent profitability gains, with its standalone net profit jumping 46.2 per cent to N1.82bn, up from N1.24bn in the opening quarter of 2025.

Alangbo expressed confidence in the firm’s commercial resilience, explaining that the top‑line revenue expansion of over 25 per cent demonstrated the continuing trust of institutional and retail clients placed in the Cornerstone brand.

He added that while substantial foreign exchange revaluation headwinds impacted consolidated group profits during the quarter under review, the core of the insurance business remained exceptionally healthy and resilient, as evidenced by the standout performance of the separate company profit.

Complementing this perspective, the Chief Financial Officer, Jubril Ajose, highlighted the company’s tight operational adjustments and commitment to structural cost management.

Ajose remarked that targeted measures were deployed to optimise internal processes during the quarter, allowing the group to successfully reduce management expenses by over 12 per cent to N2.49bn, down from N2.84bn in the first quarter of 2025.

He further indicated that total group assets had expanded to N144.47bn to strengthen balance sheet capacity, ensuring that underwriting discipline remained paramount to cushioning the rising global cost of reinsurance placements.

The broader segment breakdown revealed that the company’s primary non‑life insurance unit spearheaded the performance, driving N8.49bn in insurance revenue, while the life insurance business successfully brought in N2.85bn to the collective pool.

Robust contributions from subsidiaries, including Fin Insurance Company Limited and Hilal Takaful Nigeria Limited, continued to reinforce the group’s consolidated market positioning. Backed by a healthy shareholders’ equity position of N76.28bn, the board of directors reaffirmed the firm’s solid going‑concern status and robust liquidity profile to navigate the rest of the 2026 financial year.

Filling stations lower petrol prices amid market competition

Petrol

Filling stations in parts of Lagos and Ogun states have reduced the price of petrol to an average of N1,205 per litre as of Sunday. The reduction followed the cut in petrol gantry prices by the Dangote Petroleum Refinery last week.

Checks by our correspondent showed that several filling stations along the Lagos-Ibadan Expressway lowered their pump prices from an average of N1,280 per litre in a bid to remain competitive.

It was observed that stations with lower petrol prices attracted more customers than those selling at higher rates. The SGR filling station in Mowe had the lowest pump price, selling petrol at N1,199 per litre as of Saturday.

NIPCO, SAO, AP and MRS sold petrol at N1,205 per litre. Mobil filling stations dispensed the product at N1,220 per litre, while Heyden displayed N1,285 per litre in Iperu and N1,210 per litre in Ibafo, highlighting the competition along the highway. Retail outlets owned by the Nigerian National Petroleum Company Limited also sold Premium Motor Spirit at N1,245 per litre

Last week, petrol and diesel prices began to decline as global crude oil prices retreated following the de-escalation of tensions in the Middle East. The reductions, led by the Dangote refinery and followed by some private depot operators, raised expectations of further cuts in fuel prices, although marketers said the adjustments would be gradual to avoid significant losses on existing stock.

Following the drop in crude oil prices from a high of $120 per barrel during the United States-Iran conflict to about $80 per barrel after a peace deal was reached, the Dangote refinery reduced its petrol gantry price by N75 per litre. Pump prices had risen from N830 to over N1,300 per litre during the crisis.

As crude oil prices declined following the peace agreement between the United States and Iran, the Dangote refinery cut its petrol gantry price from N1,250 per litre to N1,175 per litre.

The reduction prompted some private depot operators to lower their prices to about N1,180 per litre on Tuesday.

Meanwhile, data from petroleumprice.ng showed that the Dangote refinery had reduced its diesel gantry price by N100, bringing it down to N1,500 per litre in its latest adjustment amid sustained downward pressure in Nigeria’s downstream market.

The reduction represents a 6.25 per cent decrease from the previous N1,600 per litre price and marks the second diesel price review within one week, following an earlier adjustment on June 16.

However, many Nigerians argued that the reductions did not adequately reflect the sharp decline in crude oil prices.

Reacting, a source within the Dangote Group told our correspondent that the refinery was still monitoring market developments while processing crude purchased during the period of heightened prices. The source added that those criticising the refinery for not reducing prices more aggressively might not fully understand the dynamics of the oil business.

“Crude prices are still swinging. People making such comments are either insincere or they don’t know the business. Let them go and check the prices all over Africa or the world,” the source said, adding that prices could still drop to as low as N900 per litre, “but we still have the expensive crude in our tanks”.