News
Atiku calls for listing of NNPC on stock exchange
Atiku calls for listing of NNPC on stock exchange
The 2023 Peoples Democratic Party presidential candidate, Atiku Abubakar, has called on President Bola Tinubu’s administration to promptly list the Nigerian National Petroleum Corporation Limited on the Nigeria Stock Exchange.
The former Vice President declared that this move aligns with the stipulations set forth by the Petroleum Industry Act.
Atiku’s demand follows the recent decision by NNPCL to transfer the management and operation of the Warri and Kaduna refineries to private operators.
In a statement issued by his media adviser, Paul Ibe, on Sunday, Atiku emphasized that NNPCL should be listed on the stock exchange as required by the Petroleum Industry Act.
“Currently, the NNPCL claims to be private, but this is only a ruse to fool the feeble-minded because it remains the ATM of the Federal Government. Anything short of listing the NNPCL on the stock exchange is nothing but a cosmetic development,” he added.
He explained that this move would improve profitability, transparency, and corporate governance.
The statement read in part, “The Peoples Democratic Party (PDP) Presidential candidate said previous arrangements and concessions had not worked because of a lack of transparency in the contract award process as well as the failure of the government to attract investors.
“The former Vice President said that for such a deal to succeed at all, the Bureau of Public Enterprise (BPE) and a credible technical partner like Standard and Poor’s must be part of the process.
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“Former President Olusegun Obasanjo revealed recently that even Shell, one of the world’s wealthiest oil companies, rejected the offer to operate Nigeria’s refineries. This is because the NNPCL has, for years, been a cesspool of endemic corruption.
“This is why over $20bn that has been spent on the refineries in the last 20 years has led to nowhere. It is also curious that a government that is still paying petrol subsidies is trying to make its refineries profitable. Which businessman will invest in a refinery that has been programmed to operate at a loss?”
Atiku questioned the viability of the NNPC’s new plan, noting that similar arrangements in the past had not been successful or profitable.
Atiku further urged NNPCL to avoid making the contract process opaque as it did with OVH last year, which proved dubious and did not resolve the ongoing fuel scarcity.
He continued, “The management and operating approach has not always worked. The Manitoba Hydro International, which was handed to the Transmission Company of Nigeria, led to nowhere. Similarly, Global Steel Limited, which was handed to the Ajaokuta Steel Company, was not able to make the facility profitable.
“The contract was questionably revoked by the Umaru Musa Yar’Adua administration, and Nigeria ended up paying Global Steel a compensation of nearly $500m while Ajaokuta remains comatose 17 years later.
“In 2022, Nueoil, an unknown and newly registered company, acquired OVH and Oando filling stations. Barely four months later, NNPCL Retail bought Nueoil and took control of all its assets, including the Oando filling stations.
“Barely eight months later, OVH turned around to take over NNPCL Retail. This convoluted transaction was done in order to hide the corruption involved. If this is the approach that the NNPCL wants to use in handing over its refineries to private hands, then Nigerians should not expect any positive development whatsoever.”
Atiku calls for listing of NNPC on stock exchange
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State Police Bill to Reach National Assembly in Two Weeks – Presidency
The Federal Government has said the proposed National Policing Bill, which will provide the operational framework for establishing state police in Nigeria, is about 90 per cent ready and is expected to be transmitted to the National Assembly within two weeks.
Chief of Staff to President Bola Ahmed Tinubu, Femi Gbajabiamila, disclosed this on Thursday, October 15, 2026, after a meeting of the Presidential Working Group on the National Policing Bill at the State House in Abuja.
Gbajabiamila, who chairs the working group, said the committee was close to completing its assignment but needed to address a few outstanding issues, including observations submitted by state governors, before forwarding the proposed legislation to lawmakers.
“The National Policing Bill is more or less ready for transmission to the National Assembly. We will probably have one more meeting after this to cross the t’s and dot the i’s and make sure every area is covered. So, we are 90% ready,” he said.
He added that the committee expected to conclude the remaining work within approximately a week, although the Presidency said the bill would be transmitted within two weeks.
“The governors have one or two observations, and we should be ready in about a week or so,” Gbajabiamila stated.
The Chief of Staff described the proposed legislation as “the most consequential Bill of the administration so far”, noting that the working group had undertaken extensive deliberations since its steering committee began meeting on August 3.
The meeting brought together key government officials and security stakeholders, including Nigeria Governors’ Forum Chairman and Kwara State Governor AbdulRahman AbdulRazaq, Ogun State Governor Dapo Abiodun, Kaduna State Governor Uba Sani and Inspector-General of Police Tunji Disu.
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Representatives of the Federal Ministry of Justice, the Nigerian Bar Association and the Office of the National Security Adviser also participated in the deliberations.
The proposed law is intended to establish the legal and operational framework needed to implement state police, allowing state governments to establish their own police services alongside the existing federal police structure.
The move is part of the Tinubu administration’s efforts to reform Nigeria’s security architecture amid persistent challenges, including kidnapping, banditry, terrorism, communal violence and other violent crimes.
Supporters of decentralised policing argue that state police could improve local intelligence gathering, shorten emergency response times and enable officers to respond more effectively to security threats within their communities.
However, the proposal has also raised concerns about possible political interference, funding disparities between states, human rights safeguards and the risk that governors could misuse state police against political opponents.
The National Policing Bill is distinct from the constitutional amendment required to permit states to establish their own police forces. The proposed legislation is intended to provide the practical rules, standards and safeguards for operating the system, while the constitutional amendment must complete the required approval process.
Both chambers of the National Assembly have approved the constitutional amendment proposal, but it still requires ratification by at least 24 of Nigeria’s 36 State Houses of Assembly before the constitutional change can take effect.
Gbajabiamila acknowledged concerns about the pace of ratification by state legislatures, with reports indicating that only a limited number of states had approved the amendment at the time of the meeting.
He nevertheless expressed confidence that the process would continue, insisting that there was broad national support for the reform.
“I see no reason why anyone will want to have a rethink on it,” he said.
The committee is expected to use its remaining deliberations to address the governors’ observations and ensure that the proposed legislation provides a workable structure for cooperation between federal and state police services.
The framework is also expected to clarify operational standards, accountability requirements and the relationship between the different levels of policing once the constitutional process is completed.
The planned transmission of the bill marks another step in a reform effort that has featured prominently in Nigeria’s security debate. However, the announcement does not mean that state police can begin operating immediately. The necessary constitutional approvals and legislative processes must still be completed before the proposed system can be implemented.
If the timeline announced by the Presidency is met, lawmakers could begin considering the National Policing Bill in the coming weeks, bringing Nigeria closer to a decentralised policing structure intended to address the country’s diverse security challenges.
State Police Bill to Reach National Assembly in Two Weeks – Presidency
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IPOB Reaches Out to Hausa, Northern Groups in Fresh Push for Biafra Referendum
The Indigenous People of Biafra (IPOB) has declared solidarity with the Hausa people and other northern ethnic nationalities, insisting that their pursuit of political freedom and self-determination does not conflict with its campaign for an independent Biafran state.
The separatist group made its position known in a statement issued on Friday, October 16, 2026, by its Media and Publicity Secretary, Emma Powerful, on the directive of its Directorate of State.
IPOB said its declaration followed what it described as a solidarity statement by northern youths and the Northern Nigeria Rescue Movement (NNRM). It welcomed the reported development, arguing that communities across Nigeria could cooperate on shared concerns, including insecurity, poverty, political marginalisation and the need for accountable governance.
However, the extent of support for the reported declaration among northern youths and the wider Hausa population has not been independently established.
The group, whose leader Nnamdi Kanu remains in detention, maintained that the quest for Biafran independence should not be interpreted as hostility towards the Hausa people or other ethnic nationalities.
“Onyendu’s message is clear, consistent, and universal: the pursuit of freedom for one people must never be interpreted as hatred for another,” Powerful said.
IPOB argued that the political aspirations of the Biafran people and the Hausa nation could coexist, insisting that one community should not be expected to surrender its identity or political interests for another to achieve its objectives.
“The freedom of Biafrans and the emancipation of the Hausa nation are not mutually exclusive aspirations. No people should have to remain subordinate for another people to be free,” the statement added.
The organisation also rejected what it described as attempts to portray Kanu and the Biafran movement as enemies of northern communities. It alleged that ethnic and religious divisions had been used to prevent Nigerians from recognising shared concerns about governance and economic hardship.
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According to IPOB, Kanu had repeatedly discussed the political aspirations of the Hausa people during broadcasts on Radio Biafra, including what the group described as the need for greater political agency, cultural confidence and historical dignity.
The organisation said ordinary Nigerians across different regions faced challenges that should not automatically be blamed on particular ethnic groups. It called for broader discussions about the political arrangements governing the country and whether they adequately reflect the interests of its diverse communities.
A central element of the statement was IPOB’s renewed demand for an internationally supervised referendum on self-determination. The group argued that ethnic nationalities should have a democratic opportunity to determine their political future, including consideration of regional autonomy, voluntary federations or other governance arrangements.
IPOB listed the Hausa, Kanuri, Tiv, Berom, Nupe, Igala, Jukun, Angas, Bachama, Idoma, Zuru, Ebira, Gbagyi, Tangale and Borgu communities among the groups whose aspirations it said deserved recognition.
The organisation maintained that the size of an ethnic group should not determine its political rights or its ability to influence decisions affecting its future.
“Population density does not dictate human dignity,” the statement said.
IPOB also cited the 2014 National Conference, convened under former President Goodluck Jonathan, arguing that its discussions on restructuring and regional autonomy could provide useful reference points for debates about Nigeria’s political future.
The group further invoked former President Olusegun Obasanjo’s criticism of governance structures inherited from colonial rule, saying African countries should develop political systems suited to their circumstances.
It urged other ethnic nationalities to participate in discussions about self-determination, political representation and constitutional restructuring, saying it was willing to work with communities pursuing what it described as freedom, peace and mutual respect.
“Freedom is the most precious gift Almighty God gave to humanity, and no human being or artificial colonial arrangement should deny any people that right,” the statement said.
The declaration comes amid continuing debate over Nigeria’s unity, separatist movements, regional autonomy and the country’s constitutional structure. IPOB has campaigned for the independence of Biafra, a proposed state associated principally with the South-East, while the Nigerian government has opposed the separatist campaign and proscribed the organisation.
Although IPOB has framed its latest statement as an appeal for solidarity among ethnic nationalities, its position does not establish that the Hausa people or other northern communities have collectively endorsed the group’s objectives. Further clarification from the NNRM and the northern groups reportedly involved would be needed to establish the precise terms of their declaration and whether any formal cooperation has been agreed.
For now, IPOB says its message is that the pursuit of Biafran independence should not be interpreted as opposition to the Hausa or other ethnic communities. It is calling for wider engagement on how Nigeria’s diverse nationalities can address their political concerns and determine their preferred future within or outside existing governance arrangements.
IPOB Reaches Out to Hausa, Northern Groups in Fresh Push for Biafra Referendum
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₦200m Fake Alcohol Packaging Uncovered as NAFDAC Raids Aba Market
₦200m Fake Alcohol Packaging Uncovered as NAFDAC Raids Aba Market
The National Agency for Food and Drug Administration and Control (NAFDAC) has uncovered counterfeit packaging materials bearing the names of popular alcoholic beverage brands, including Jameson and Glenfiddich, during a raid on five shops at Old Court Road Market in Aba, Abia State.
The agency said the seized materials were worth more than ₦200 million, raising concerns about the production and distribution of counterfeit packaging that could be used to make fake products appear genuine.
The operation targeted shops suspected of producing and supplying counterfeit packaging materials for alcoholic beverages and other consumer products. NAFDAC said its Investigation and Enforcement operatives carried out the raid following credible intelligence.
In a statement shared on Wednesday, October 14, the agency disclosed that the operation uncovered fake labels, corks, packs and outer packaging materials bearing the names of several well-known brands.
Apart from Jameson and Glenfiddich, the recovered materials reportedly carried the names of Four Cousins, Lord’s Dry Gin, Imperial Blue, Goya Oil, Chelsea, Squadron and Seaman’s Aromatic Schnapps.
The agency estimated the value of the counterfeit packaging materials at more than ₦200 million. However, its disclosure focused on packaging materials bearing the brands’ names and did not establish that finished bottles of all the affected brands were recovered during the operation.
NAFDAC said its enforcement team encountered threats and resistance from some traders during the raid, making it difficult to evacuate the seized materials. The owners of the five shops were reportedly absent when the operatives arrived.
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To prevent interference with the materials left behind, the agency said the affected premises were placed on hold while steps were taken to secure them. NAFDAC subsequently invited the chairman of the market union, who reportedly pledged to ensure the security of the premises and assist in identifying and presenting the shop owners to the authorities.
The agency did not publicly identify the owners of the affected shops in its account of the operation. The identities of the individuals behind the suspected counterfeiting activity, the sources of the materials and their intended destinations remain unclear.
The seizure has renewed concerns about the risks posed by counterfeit packaging in Nigeria’s alcoholic beverage market. Fake labels, bottle closures and outer packaging can make it difficult for consumers to distinguish genuine products from counterfeit goods, particularly when imitation packaging closely resembles that of established brands.
Where such materials are used to package adulterated or unregulated drinks, consumers may have no reliable way of determining the contents or the conditions under which the products were manufactured. The consumption of counterfeit or adulterated alcoholic beverages can expose people to dangerous substances and serious health complications.
NAFDAC has previously conducted enforcement operations against suspected counterfeit beverage production in Aba. In December 2023, the agency announced a separate operation at Eziukwu Market, also known as Cemetery Market, targeting shops allegedly used to produce counterfeit and adulterated beverages and other consumer goods.
The agency reported that the earlier operation involved more than 240 shops and resulted in the destruction of over 1,500 cartons of fake and substandard products, with the confiscated and destroyed goods valued at approximately ₦750 million. That operation was separate from the latest raid at Old Court Road Market.
NAFDAC is responsible for regulating the manufacture, importation, exportation, distribution, advertisement and sale of regulated products in Nigeria, including food, medicines and beverages. Through its Investigation and Enforcement Directorate, the agency conducts operations against counterfeit, adulterated, substandard and unregistered products.
The latest seizure highlights the importance of enforcement efforts targeting not only fake finished products but also the packaging materials that can facilitate counterfeiting. Consumers are advised to purchase alcoholic beverages from reputable retailers and remain alert to suspicious packaging, broken seals, unusual product appearances and prices that are significantly lower than normal.
However, the presence of a familiar label alone does not establish that a drink is genuine. Effective regulatory oversight, supply-chain monitoring and product traceability remain important safeguards against counterfeit goods.
NAFDAC said steps were being taken to secure the affected premises and identify the shop owners. The full extent of the suspected counterfeiting operation, including whether the recovered materials had already been used to package fake products, has not been established in the information released by the agency.
₦200m Fake Alcohol Packaging Uncovered as NAFDAC Raids Aba Market
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