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

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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.

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Amid Denials, ADC Reportedly Secures Rainbow Event Centre As Venue for National Convention

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Baring any last minute change, the leadership of the African Democratic Congress (ADC) under Senator David Mark and Rauf Aregbesola as National chairman and National Secretary respectively will hold the party’s National convention at the National Rainbow Event Centre in Garki on Tuesday, 14 April 2026.

The African Democratic Congress (ADC)  has being denied two venues without any cogent reasons despite early arrangements, according to sources.

First, it was alleged that the Abuja Transcorp Hilton Hotels, which was initially approached, turned down the ADC request to use it’s facility.

The ADC, having sensed sabotage, has kept the Rainbow Event Center under rap as it’s definite venue.

The last National Executive Committee (NEC) of the party was held at the same venue.

Located adjacent the Nigerian Police Force Headquarters, the event centre will host the second NEC meeting of the ADC and it’s forthcoming national convention.

According to The Guardian’ report, the ADC leadership has communicated the venue to state chapters with the caveat not to escalate it.

The ADC is in a battle of survival against the Independent National Electoral Commission (INEC) and has approached the Supreme Court for intervention.

The INEC national chairman Prof Joash Amupitan has suspended recognition of the David Mark-led ADC rendering a leadership vacuum in the party.

INEC said it’s decision was on the basis of an Appeal Court pronouncement that ordered statusquo ante-bellum be maintained.

Sources said the ADC has officially written the Inspector General of Police (IGP) Olatunji Disu for police protection, the Director of State Services and the Comptroller of Civil Defence Corps.

Reports say that why the venue is being quietly decorated moderately for the event, the ADC intends to fully move in the early hours of Tuesday.

The Guardian

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Shettima Lacks Respect, I Won’t Engage Him, Atiku Responds to VP’s Challenge

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Former Vice President, Atiku Abubakar, has hit back at incumbent Vice President Kashim Shettima over the latter’s poser over achievements in office, saying he won’t take the challenge because Shettima was disrespectful.

Shettima had reportedly challenged Atiku to provide details of eight projects he executed for the development of Northern Nigeria during his tenure as vice president for eight years, as well as name eight individuals he empowered while in office.

But, speaking in an interview with GTA Hausa podcast, Atiku said he would not engage the vice president on the matter.

“I will not respond to Kashim Shettima because he is disrespectful. I am older than him and I have more experience in governance than he does, so I will not respond to him,” he said.

The former vice president further argued that cultural values in Northern Nigeria discourage younger individuals from publicly challenging their elders in such a manner.

“It is not part of our tradition in the North to disrespect elders. You cannot look at someone who is above you in both age and accomplishments and start taunting him. That is not our tradition, so I won’t engage with him,” Atiku emphasised.

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2027: ADC Leaders Plan Massive Coalition Against APC, Tinubu

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There are indications that the ongoing dispute in the leadership of African Democratic Congress (ADC) may lead to the formation of a 10-party coalition, far bigger than what was initially envisaged, reports quoting sources close to the opposition have said.

The Senator David Mark-led leadership of the ADC was removed from the portal of the Independent National Electoral Commission (INEC) on account of what the election umpire said was its interpretation of the ruling of the Court of Appeal, which directed it to maintain status quo ante bellum in a suit involving the Mark-led executive and Nasiru Bala Gombe, a claimant to the national chairmanship seat of the party.

While Senator Mark-led team has argued that the said Bala Gombe lacks the locus standi to institute the suit or lay claim to the party’s chairmanship seat, having resigned his position in May 2025, INEC insisted it would no longer recognise either of the parties in the ADC.

Following the imbroglio, a source, however, said that those pushing the ADC might end up leading it to a bigger coalition, as the development has opened the eyes of many opposition leaders to the possibility of a broader coalition.

Last week, leaders of the ADC engaged a group of leaders from the Peoples’ Democratic Party (PDP), while it also engaged with leaders of the Peoples Redemption Party (PRP), aside from what was called ongoing cross-party discussions with the newly formed National Democratic Congress (NDC).

“What we are seeing is that the loss of ADC on one hand could be the gain of the opposition in this country. What those fighting the ADC don’t know is that you cannot keep the people silent when they are determined to exercise their rights of association. The ADC will be on the ballot in 2027 with a coalition bigger than earlier envisaged,” a source in the know stated.

The source stated that already, the ADC coalition looks good to benefit from the travails of the Tanimu Turaki-led PDP, as well as the resolve of members of other parties whose leaders believe they can benefit from a broad-based coalition in 2027.

It has earlier been reported that the attempt by the leaders of the ADC to rally a strong party behind the possible choice of former President Goodluck Jonathan or in the alternative, a Peter Obi/Rabiu Kwankwaso presidential ticket, is upsetting the ruling party, whose strategists were said to have activated cells of internal opposition within the emerging coalition.

A leader of the ADC, however, said that those pursuing the coalition party are surely pushing it into better things. The way things are going, we may end up with at least a 10-party coalition. That would be bigger than what we initially set out to do,” the source stated, adding that such a development would amount to a masterstroke against the ruling All Progressives Congress (APC) and the Independent National Electoral Commission (INEC), which he said had chosen to interpret the court ruling awkwardly.

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