News
Senate probes $1.5bn Port Harcourt refinery rehabilitation funding
Senate probes $1.5bn Port Harcourt refinery rehabilitation funding
The Senate has expressed worry over the 1.5 billion dollars granted in 2021 for turnaround maintenance at the Port Harcourt Refinery, which has yielded little or no results.
Sen. Opeyemi Bamidele, Chairman of the Senate Ad Hoc Committee to Investigate Alleged Economic Sabotage in the Nigerian Petroleum Industry, expressed his worry during an interactive session with stakeholders on Wednesday in Abuja.
Bamidele, also the Senate Leader, said punishing public firms poorly was unjust and unethical while private businesses thrived and prospered.
He noted that the Federal Executive Council (FEC) approved the Ministry of Petroleum Resources’ plan to rebuild and turn around the Port Harcourt Refinery with 1.5 billion dollars.
Bamidele voiced alarm about the malfunctioning state of government-owned refineries, despite billions of dollars spent on turnaround maintenance.
“The federation is facing a genuinely difficult phase. Our fatherland’s recent past has seen erratic and troublesome distribution and supply of refined petroleum products.
“The huge lines at gas stations are visible evidence of this difficulty.
“A situation whereby we now depend almost entirely on the importation of these products even when we daily supply the global oil market with about two percent of its crude oil requirements is worrisome,” stated the president.
He also expressed severe worry over importing dangerous petroleum products and dumping substandard fuel in the country.
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Bamidele said that since 1999, the federal government had “invested billions of dollars to maintain and turn around the state-owned refineries in Kaduna, Port Harcourt, and Warri.” However, the refineries are not operating.
“In 2021, specifically, the Federal Executive Council budgeted 1.5 billion dollars for turnaround maintenance at the Port Harcourt Refinery. However, this investment has not produced considerable profits.
“For us in the Senate, we believe, it is unfair and unpatriotic to treat government businesses or public corporations as an orphan while private businesses are flourishing and thriving.”
He stated that the National Assembly was prepared to conduct the investigation hearing with utmost respect and responsibility.
Mr Mele Kyari, Group CEO of Nigerian National Petroleum Company Limited (NNPCL), denied allegations of sabotage against domestic refineries.
“Everyone here is aware of what is going in the media. A personal attack on my person and the institution. And we all understand how this works.
“They are deliberate and calculated. As a result, the NNPCL and our government are doing all possible to damage our country’s economy.
“It is far from that. The company has grown, and we are proud to state this. Kyari stated that the company had been losing money for 43 years before becoming profitable today.
Furthermore, Mr Heineken Lokpobiri, Minister of State for Petroleum Resources, stated that the oil industry was plagued by disinformation.
“The Senate should do Nigerians a favour by broadcasting the hearings of this committee live.
“This will do much justice not only to the Senate, but also to the executive branch and important sector leaders.
According to him, “Because of the fundamental nature of this investigation, which concerns alleged economic sabotage through the importation of substandard products into the country, we urge the Senate to ensure we do a live broadcast.”
He stated that the government was dedicated to protecting local industries and other oil-related interests.
According to the minister, “We are committed to supporting Dangote Refinery and modular refineries, and we have been resolving whatever issues they brought to our attention.”
At the investigation hearing, Mr Aliyu Suleiman, Chief Strategy Officer of Dangote Industry Ltd., stated that the refinery began full production in March.
“Since then, we’ve processed around 50 million barrels of crude. We have produced around five million tonnes of petroleum products, which have been marketed throughout the country,” he explained.
Mr Wale Edun, Minister of Finance and Coordinating Minister of the Economy, stated that increased crude oil production would help to stabilise the country’s foreign exchange market.
Senate probes $1.5bn Port Harcourt refinery rehabilitation funding
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Education
Oyo Muslim Leaders Receive Saudi Delegation, Intensify Drive for Muslim College of Nursing
Oyo Muslim Leaders Receive Saudi Delegation, Intensify Drive for Muslim College of Nursing
OYO, August 1, 2026 – Muslim leaders in Oyo Kingdom on Saturday received a high-powered delegation from the Kingdom of Saudi Arabia in a visit that underscored growing collaboration in education, healthcare and Islamic development, with renewed commitment towards the establishment of a Muslim College of Nursing in Oyo.
The delegation was accorded a warm reception at a gathering attended by prominent Islamic scholars and community leaders from Oyo Land.
Among the dignitaries present were the Grand Chief Imam of Oyo Land, Fadhilatu Shaykh Imam Bilaal Husayn Akinola Akeugberu; Ash-Shaykh Sulayman Akhyar, who served as the special guest; Ash-Shaykh Mainasaro, the Ameerul Muslimeen; the Aare Musulumi of Oyo Land, Alhaji Adebayo Kamarise; the Chairman of the Muslim Community of Oyo Land; Khalifa Hasbunallah Al-Oyowiyy; and several other religious leaders and stakeholders.
The gathering focused on mobilising support for the proposed Muslim College of Nursing, an initiative aimed at expanding access to quality healthcare education while promoting excellence in professional training within the Muslim community.
In his welcome address, the Grand Chief Imam of Oyo Land, Shaykh Bilaal Husayn Akinola Akeugberu, expressed appreciation to the Saudi delegation and other distinguished guests for identifying with the vision of establishing the institution. He described the proposed college as a strategic investment in human capital development that would benefit not only Muslims but the wider society.
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Also present at the event were the Muslim Ummah of Oyo Land and Fadhilatu Shaykh Dr. Rofeeu Adisa Ballo, who joined other leaders in reaffirming their commitment to ensuring the successful establishment and growth of the proposed college.
Speakers at the event stressed the importance of strengthening educational and healthcare institutions capable of producing highly skilled professionals while nurturing moral and ethical values rooted in Islamic teachings.
Special prayers were offered for the success of the proposed institution, with participants praying that Almighty Allah bless the sponsors, donors, scholars and all individuals contributing to the realisation of the project.
The visit also featured discussions on strengthening the longstanding relationship between the Muslim community in Oyo Kingdom and the Kingdom of Saudi Arabia. Participants emphasised the need for sustained cooperation in religious, educational and humanitarian programmes aimed at advancing the welfare of the Muslim Ummah.
In a symbolic gesture that drew commendation from attendees, the Grand Chief Imam granted approval for the head of the Saudi delegation to lead the Jumu’ah prayer at the Oyo Central Mosque, Akesan.
The honour, according to participants, reflected the spirit of Islamic brotherhood, mutual respect and unity among Muslims across national boundaries.
Addressing the gathering, the Chief Imam reiterated that Islam encourages peace, dialogue and cooperation among believers, urging Muslim communities around the world to work together in promoting justice, harmony and understanding.
He said such partnerships remain essential to addressing contemporary challenges through education, religious enlightenment and community development.
Responding on behalf of the delegation, its leader expressed gratitude to the Chief Imam, traditional Muslim leadership and the people of Oyo for the warm reception accorded the visitors.
He described the opportunity to lead the Jumu’ah prayer as a great honour and reaffirmed Saudi Arabia’s commitment to strengthening religious cooperation and supporting initiatives that promote peace, unity, education and mutual understanding among Muslims.
The delegation noted that collaborations centred on education and healthcare development would contribute significantly to the growth of Muslim communities and the overall advancement of society.
The event concluded with prayers for enduring peace, stability and prosperity in Nigeria, Saudi Arabia and the global Muslim Ummah.
Participants described the visit as a landmark engagement that not only reinforced the bonds of brotherhood between Oyo Muslims and their Saudi counterparts but also provided renewed momentum for the actualisation of the Muslim College of Nursing, which they said would serve generations of students and healthcare professionals.
Oyo Muslim Leaders Receive Saudi Delegation, Intensify Drive for Muslim College of Nursing
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CJN orders lawyers to stop using ‘Barrister’ before their names
News
FG to phase out electricity subsidy from 2027 as power sector debts rise
FG to phase out electricity subsidy from 2027 as power sector debts rise
The Federal Government has announced plans to gradually phase out electricity subsidies from 2027 as part of efforts to address rising debts in the power sector, improve financial sustainability and strengthen electricity supply across the country.
Minister of Power Joseph Tegbe disclosed the plan during a media interactive session on Friday, saying the government would introduce the changes gradually while ensuring that Nigerians continue to have access to electricity.
Tegbe said the Federal Government had received a mandate from President Bola Tinubu to clear outstanding debts in the electricity industry and establish a sustainable system that would prevent the accumulation of new obligations.
“We have the mandate of Mr President to clear the legacy debt and come up with sustainable structures to make sure this doesn’t pile up any more,” the minister said.
He expressed confidence that the government would bring an end to the current electricity subsidy arrangement in 2027 while working to improve the quality and reliability of power supply.
“I promise you, next year, by God’s grace, we will put a stop to this so-called subsidy in the power sector,” Tegbe said.
The minister assured consumers that the planned reforms would not result in a loss of access to electricity services.
According to him, the government’s objective is to reduce the financial burden created by the subsidy system while improving the performance of the electricity sector.
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“Mr President, we will not deprive Nigeria of anything. We’ll make sure Nigerian consumers continue to have power and improve power services,” he added.
Tegbe also stated that there was no immediate plan to increase electricity tariffs, despite concerns that the proposed phase-out of subsidies could lead to higher electricity bills.
However, the minister did not provide details on the timetable for the subsidy withdrawal, the categories of consumers that may be affected or the measures that would be introduced to protect low-income and vulnerable households.
The planned reform comes amid growing concerns over the financial challenges facing Nigeria’s electricity industry.
The Federal Government previously estimated the cost of electricity subsidies at about ₦3 trillion as of February 2024, while power generation companies, known as GenCos, have continued to report significant unpaid obligations.
The Association of Power Generation Companies has said electricity generation companies are owed about ₦6.5 trillion, raising concerns about the financial health of the sector and its ability to sustain electricity generation.
The outstanding debts include unpaid invoices and other obligations linked to electricity supplied to the national grid.
To address the problem, President Tinubu recently approved a ₦4 trillion power sector debt reduction programme aimed at settling verified legacy debts and improving liquidity across the electricity value chain.
The programme is expected to support the payment of outstanding obligations owed to power generation companies and other participants in the sector.
In January 2026, the Federal Government issued an inaugural ₦501 billion bond under the Presidential Power Sector Debt Reduction Programme.
The bond was designed to help settle verified debts owed to electricity generation companies and support efforts to stabilise the sector.
On July 20, the government announced a second tranche of about ₦729 billion to settle additional verified debts owed to power generation companies.
The debt-settlement programme is expected to reduce financial pressure on electricity producers and improve their capacity to maintain operations, pay gas suppliers and invest in power infrastructure.
The proposed subsidy phase-out also aligns with recommendations by the International Monetary Fund (IMF), which has encouraged Nigeria to gradually reduce broad electricity subsidies and adopt more targeted support for households that need assistance.
Supporters of the reform argue that reducing subsidies could improve the financial viability of the electricity market, attract private investment and help power companies maintain and expand infrastructure.
However, consumer groups and businesses have raised concerns that higher electricity costs could increase financial pressure on households and raise operating expenses for companies.
The impact of the proposed reform may depend on the government’s ability to improve electricity supply, expand access to prepaid meters, reduce estimated billing and ensure that consumers receive better services.
Earlier this year, President Tinubu also directed ministries, departments and agencies to apply existing electricity laws in determining how subsidy costs should be shared among the federal, state and local governments in the 2026 budget.
The move is expected to support a more coordinated approach to electricity financing following reforms that expanded the role of state governments in electricity generation, transmission and distribution.
As the 2027 target approaches, the Federal Government is expected to provide more details on the implementation framework, consumer protection measures and the steps that will be taken to prevent the reforms from causing undue hardship.
The government will also face growing pressure to ensure that improvements in electricity generation, transmission and distribution accompany the gradual withdrawal of subsidies.
For many consumers, the success of the policy may ultimately be measured by whether it delivers more reliable electricity, fair billing, improved customer service and better value for money.
FG to phase out electricity subsidy from 2027 as power sector debts rise
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