Headline

Lawmakers Pass PIGB with Five Per cent Fuel Levy, Await Buhari’s Assent

Published

8 years ago

March 29, 2018

Eric

Nigerians will have to pay more for fuel as the National Assembly yesterday passed the Petroleum Industry Governance Bill (PIGB) with five percent levy on fuel sold across the country.

According to the lawmakers, the five percent levy will be used to fund the Petroleum Equalisation Fund (PEF) as reflected in the new bill.

The passage followed the consideration and adoption of the conference committee report on the bill.

Going by Section 36 (1) (a) of the bill, “There shall be established the Petroleum Equalisation Fund into which shall be paid all monies payable to the Equalisation Fund by way of a 5 percent fuel levy in respect of all fuel sold and distributed within the Federation which shall be charged subject to the approval of the Minister (of Petroleum)”.

Other sources of financing the PEF, as stated in the bill, include subventions, fees and charges for services rendered, as well as net surplus revenue recovered from petroleum products marketing companies.

The Bill empowered the Equalisation Fund to collect all revenues and levies charged; determine the net surplus revenue recoverable from any oil marketing company and accruing to that company from the sale by it of petroleum products at such uniform prices as may be fixed by the Minister; determine the amount of reimbursement due to any oil marketing company for purposes of equalisation of price of products among others.

It also seeks to provide for the governance and institutional framework for the petroleum industry.

One of the major highlights of the bill is one seeking to unbundle the Nigerian National Petroleum Corporation (NNPC), provide for the establishment of Federal Ministry of Petroleum Incorporated, Nigerian Petroleum Regulatory Commission, Nigerian Petroleum Assets Management Company and National Petroleum Company and Petroleum Equalisation Fund.

The regulatory bill also seeks to replace the NNPC with the National Petroleum Commission.

If it eventually becomes law, existing agencies, like the Petroleum Inspectorate, Department of Petroleum Resources (DPR) and the Petroleum Products Pricing Regulatory Agency (PPPRA) will be abolished.

Their functions will then be transferred to a new agency -the Nigeria Petroleum Regulatory Commission (NPREC) as provided in the new bill.

The bill empowers the NPREC ‘to administer and enforce policies, laws and regulations relating to all aspects of petroleum operations.

It also empowers it to monitor and enforce compliance with the terms and conditions of all leases, licences, permits and authorisations issued in respect of any petroleum operations.

It will also define and enforce approved standards for design, construction, fabrication, operation and maintenance for all plants, installations and facilities utilized or to be utilised in petroleum operations.

Similarly, it is empowered to establish, monitor, regulate and enforce health and safety measures relating to all aspects of petroleum operations; establish the framework for the validation and certification of national hydrocarbon reserves; advise the Minister on fiscal and other issues pertaining to the petroleum industry; undertake evaluation of national reserves and reservoir management studies.

It also empowers the body to issue licences, permits or authorisations for downstream gas, petroleum products, storage depots, retail outlets, transportation and distribution facilities for the industry.

President of the Senate Bukola Saraki urged President Muhammadu Buhari to sign the bill into law.

Saraki said, “I hope with this, we will get the assent of Mr President and hopefully open a new page for the petroleum industry”.

At the House of Representatives, there was a concurrence as the report of the conference committee on “A bill for an act to provide for the Governance and Institutional Framework for the Petroleum Industry (PIGB)” was considered and adopted.

The next step is the transmission of the bill to the President for assent and if signed into law, the NNPC will be unbundled into smaller independent companies.

Also, the House moved closer to its resolve on the stoppage of the sales or concession of the Ajaokuta Steel Company.

At the Committee of the Whole House, chaired by Speaker Yakubu Dogara, the House considered and adopted the report of a bill to provide for the withdrawal of $1b from the Excess Crude Account (ECA) for the completion of the 98 per cent completed steel company.

The bill was sponsored by 301 members of the House.

If signed into law by the President, after scaling the Senate huddle for concurrence, the Presidency will be empowered to withdraw $1b from the ECA to complete the project.

Headline

Gunmen Abduct Ex-Power Minister Adelabu’s Sister, Her Two Sons in Ibadan

Published

3 days ago

June 3, 2026

Eric

Suspected gunmen have abducted the sister of a former Minister of Power, Adebayo Adelabu, in Ibadan, the Oyo State capital.

The family of former minister and chieftain of the All Progressives Congress (APC) confirmed the abduction, disclosing that Mrs. Olaide John-Paul and her 12-year-old twin sons were kidnapped by the gunmen on Wednesday, June 3, 2026.

According to a statement issued by Adelabu’s media aide, Femi Awogboro, the victims were kidnapped at about 7:30am while Mrs. John-Paul was taking her children to school.

Mrs. John-Paul, the youngest of five children of Mrs. Olufunmilayo Aduke Adegoke Adelabu, reportedly retired voluntarily from her career at First Bank Pension Custodian in 2025 before relocating to Ibadan with her children.

She was said to be making arrangements to join her husband, who had earlier relocated to the US.

The family expressed deep concern over the development but stated that security agencies had already commenced efforts to rescue the victims and apprehend those responsible.

“We are pleased to confirm that security operatives have swung into action and preliminary investigations have commenced in earnest,” the statement partly read.

While appealing for calm, the family urged members of the public to refrain from spreading unverified information that could undermine ongoing rescue operations.

“We are deeply distressed by this unfortunate incident, but remain hopeful that the victims will be rescued safely. We appeal to the public to remain calm, avoid speculation and support ongoing efforts with prayers,” the statement added.

The family also called on anyone with useful information that could aid the rescue operation to promptly share such intelligence with security agencies through the appropriate channels.

It assured that it would continue to cooperate fully with law enforcement authorities and provide updates as investigations and rescue efforts progress.

Headline

Adeboye Proposes 90 Days Ultimatum for Security Chiefs to Eradicate Terrorism or Resign

Published

3 days ago

June 3, 2026

Eric

The General Overseer of Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, has called on the Federal government to issue a 90-day ultimatum to security chiefs to end terrorism in Nigeria or step aside.

Adeboye made the appeal in a video shared on his X (formerly Twitter) account on Tuesday, expressing deep concern over the country’s deteriorating security situation.

He emphasized the need for urgent and decisive action, stressing that security chiefs must be held accountable for tangible results in the fight against terrorism.

According to him, while citizens can only advise the Commander-in-Chief, it is within the government’s power to set clear expectations and timelines for security leaders.

“If I were to make a suggestion, I would say the government should act swiftly and direct the service chiefs to eradicate terrorists within 90 days or resign,” he said.

The cleric also urged authorities to go beyond targeting terrorists alone, insisting that their sponsors must equally be identified and dealt with, regardless of their social or political influence.

“When issuing directives, it should be made clear that both terrorists and their sponsors must be eliminated, no matter how powerful they are,” he added.

Adeboye recalled that a former Nigerian president had once issued a similar three-month directive to security chiefs to end the Boko Haram insurgency but failed to enforce the order after the deadline expired.

Reflecting on his interaction with the late president, Adeboye noted that although initial efforts were made, the lack of follow-through undermined the directive’s effectiveness.

He maintained that his current recommendation is informed by that experience, urging the government to ensure strict enforcement if such a timeline is adopted.

His comments come amid renewed concerns over persistent terrorist attacks, banditry, and kidnappings across the country, with increasing public pressure on authorities to take stronger action against insecurity.

Headline

TAS Pushes Sustainability Training Drive to Bridge Africa’s ESG Implementation Gap

Published

3 days ago

June 3, 2026

Admin

As global conversations around sustainability, governance and responsible development continue to intensify, attention is increasingly turning to Africa’s need for practical capacity building to translate environmental, social and governance (ESG) awareness into measurable action.

This was the central focus of Train Africans on Sustainability (TAS), an initiative founded by Dr. Orlando Odejide, which is working to equip Africans with the knowledge, skills and tools required to actively participate in the global sustainability agenda.

According to sustainability professionals involved in the programme, TAS was created in response to a growing gap across the continent between awareness and implementation of sustainability principles. While understanding of ESG frameworks and the Sustainable Development Goals (SDGs) has expanded in recent years, many individuals and organisations still face challenges in applying these concepts due to limited access to structured, practical training.

The initiative is designed to close that gap by shifting participants from awareness to action through hands-on, context-driven sustainability education. At the core of the programme is Odejide’s vision of training 50,000 Africans, aimed at building a new generation of sustainability-focused leaders and professionals capable of driving long-term change across the continent.

TAS operates as a capacity-building platform focused on sustainability, ESG principles and SDG implementation. It targets a wide audience, including young professionals, corporate organisations, public sector institutions and individuals seeking to strengthen their understanding of sustainability and its real-world application.

A defining feature of the programme is its emphasis on practical implementation. Participants are exposed to how sustainability functions within organisations, how ESG frameworks can be integrated into business operations and how sustainability performance can be measured and reported. The training is also tailored to African contexts, ensuring that global sustainability concepts are adapted to local economic, environmental and institutional realities.

The importance of such education has become increasingly evident as Africa faces mounting environmental, social and economic pressures alongside rapid population growth and development demands. Decisions made today, stakeholders note, will have long-term implications for future generations.

Sustainability education, therefore, is seen as a critical tool for balancing economic growth with environmental protection and social inclusion. It helps translate broad global frameworks into practical approaches for decision-making, innovation and long-term planning. Industry practitioners associated with TAS say one of the key barriers to sustainability adoption is not lack of interest, but uncertainty about implementation, a gap the programme aims to address through structured learning and practical guidance.

Since its launch, TAS has recorded steady participation, with 548 registered participants and 212 individuals certified as 2030 Agenda for SDGs and ESG (IWA48) Champions. Beyond certification, many participants are applying their learning within their workplaces and communities.

Some graduates are now leading sustainability-focused discussions within organisations, while others are aligning projects and initiatives with the SDGs. This shift from passive awareness to active engagement is viewed as a key indicator of the programme’s growing influence. Reports of participant-led initiatives and awareness campaigns are increasingly visible across professional platforms, particularly LinkedIn.

Looking ahead, TAS is focused on expanding its reach across more African countries, strengthening partnerships and improving the quality and depth of its training programmes. The long-term ambition is to establish the initiative as a leading sustainability capacity-building platform across the continent through collaboration with private sector organisations, government institutions and development partners.

The programme also provides multiple avenues for participation. Individuals can enrol to build sustainability competencies and join a growing professional network focused on sustainable development, while organisations can partner to train employees, sponsor access programmes or collaborate on ESG-related projects.

Through this collaborative approach, TAS aims to bring together stakeholders across sectors in support of a shared goal: advancing sustainable development across Africa. By prioritising education, capacity building and practical implementation, the initiative is positioning itself as a driver of sustainability transformation on the continent.