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Nigerian Senate Head Says He’s Considering Running for President

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Nigerian Senate President Bukola Saraki is considering running against President Muhammadu Buhari when Africa’s top oil producer holds elections in February.

“I am consulting and actively considering it,” Saraki, 56, said Tuesday in an interview at his residence in the capital, Abuja. “I believe I can make the change.”

After recently defecting from the ruling All Progressives Congress, Saraki said that if he decided to run, it would be under the banner of the People’s Democratic Party, the main opposition group. He would need to win the party’s ticket during primary elections in October.

At odds with Buhari ever since he emerged as the senate leader against the president’s wishes in 2015, Saraki is a former member of the PDP who despite joining the APC, often went against the party line.

His defection last month back to the PDP came amid a wave of such departures from the APC, including dozens of senators and at least two state governors. After security operatives surrounded Saraki’s home last month for undisclosed reasons, the secret police temporarily blocked access to the National Assembly on Aug. 7, in what Saraki said was an illegal attempt to impeach him. The head of the State Security Services was dismissed over the deployment.

Confidence Lost

“If a government can go and lock up an arm of government — and it’s never happened in our history — we should all be very concerned,” Saraki said. “We should not be surprised that they would use security agencies for elections.”

Investors and citizens have lost confidence in the president, according to Saraki, the nation’s third ranking official after Buhari and his deputy. Buhari’s election victory in 2015, which marked the first time an opposition party won power at the ballot box and put an end to 16 years of PDP rule, came after he pledged to fix the economy, improve security and fight corruption.

While Buhari’s administration has raised record amounts of money in oversubscribed Eurobond sales and increased revenue to boost investments in roads, rail, ports and power, poverty remains widespread in Nigeria and the nation is still dealing with deadly violence in several regions.

To win the PDP ticket at the party’s primaries on Oct. 5 and 6, Saraki would need to beat another presidential aspirant, former Vice President Atiku Abubakar, who also defected from the APC last year.

Saraki said Nigeria needs to be governed by a genuinely pro-business administration that will be able to tackle recurrent security issues. Below are some excerpts from the interview:

On investment:

  • “Most of the inflows that have come in are merely hot money, and that is because the oil price has gone up. Investment in the real sector is not seen. The private sector, in my view, has probably taken a position that the confidence is not there in the government. The country requires a government that is truly pro-business, and a president that sees himself as a chief marketing officer.”

On the involvement of security forces in political matters:

  • “There has been a persistent disregard for due process and a lack of neutrality for some of these issues. For you to have credible elections, you must have safe elections. Security agencies are actively getting involved in the politics.”
  • “The fundamentals of whatever we are going to develop is going to be based on sound democracy, credible elections, freedom of choice of Nigerians. If we don’t have that as a foundation, then everything else cannot happen.”

On gasoline subsidies:

  • “If we are going to have a subsidy, we should have a budget for it. Because once we have a budget for it, the private sector can also play a role in the importation of petroleum products. And if the private sector plays a role, definitely the cost of the subsidy will go down and there will be more efficiency in the delivery of products. But in the environment we are in today, where it’s only the Nigerian National Petroleum Corp. that’s doing that, it’s going to be inefficient, it’s not going to be transparent.”

On the PDP:

  • “The PDP has learnt its lesson from the loss in 2015, and I think unfortunately the APC did not learn from their victory.”
  • While negotiating with the PDP “we listed a number of issues. We talked about how to sustain and improve the fight against corruption; the issue of providing more powers to the states; inclusion and having a more nationalistic approach on things we do; to continue to improve the environment that will ensure investments. We listed a number of items during the discussions with the PDP, and there is a written agreement to that. We trust that we can hold them to that.”
  • “We would ensure that the party is strong on security. The APC too have not done well on the issue of security. We have the opportunity with the right kind of presidential candidate and president to provide the leadership for the party. The party has a good opportunity to lead the country in the right direction.”

Courtesy: Bloomberg

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US Cancels Visa Processing for Nigeria, Brazil, Russia, 72 Other Countries

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The Trump administration is suspending all visa processing for applicants from 75 countries, a State Department spokesperson said on Wednesday.
The spokesperson did not elaborate on the plan, first reported by Fox News, which cited a State Department memo.
The pause will begin on January 21, Fox News said.
Somalia, Russia, Iran, Afghanistan, Brazil, Nigeria, Thailand are among the affected countries, according to the report.
The memo directs U.S. embassies to refuse visas under existing law while the department reassesses its procedures. No time frame was provided.
The reported pause comes amid the sweeping immigration crackdown pursued by Republican U.S. President Donald Trump since taking office last January.
In November, Trump had vowed to “permanently pause” migration from all “Third World Countries” following a shooting near the White House by an Afghan national that killed a National Guard member.
Source: Reuters

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‘A Friend of a Thief is a Thief’, Defence Minister Warns Gumi, Other Bandit-Sympathizers

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The Minister of Defence Minister, Lt.-Gen. Christopher Musa, (rtd), has warned Sheikh Ahmed Gumi and other persons in the country against including bandits in northern brotherhood.

General Musa, via a statement on Wednesday in Maiduguri, declared: “A friend of a thief is a thief,” warning Nigerians against supporting terrorists and bandits in any form.

He said that the warning statement is neither accidental nor symbolic; explaining that it is a clear response to narratives previously promoted by Sheikh Gumi, who described bandits’ hiding in the bush as “our brothers” and argued that society cannot do without them.

General Musa’s message draws a firm line between compassion and complicity. While empathy has its place, justifying or normalising terrorism only strengthens criminal networks that have devastated communities, displaced families, and claimed innocent lives.

Labeling bandit as “brothers” does not reduce violence it legitimizes and undermines national security efforts.

The Defence minister’s warning serves as a reminder that terrorism thrives not only on weapons but also on moral cover. Anyone who excuses, defends, or shields criminals through words, influence, or silence shares responsibility for the consequences. In matters of national security, neutrality is not an option.

Nigeria cannot defeat banditry and terrorism while dangerous rhetoric blurs the line between victims and perpetrators. The choice is clear: stand with the law and the nation, or be counted among those enabling crime.

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Strategy and Sovereignty: Inside Adenuga’s Oil Deal of the Decade

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By Michael Abimboye

In global energy circles, the most consequential deals are often not the loudest. They unfold quietly, reshape portfolios, recalibrate value, and only later reveal their full significance.

The recent strategic transaction between Conoil Producing Limited and TotalEnergies belongs firmly in that category. A deal whose implications stretch beyond balance sheets into Nigeria’s long-troubled oil production narrative.

For Mike Adenuga, named The Boss of the Year 2025 by The Boss Newspapers, the agreement is more than a corporate milestone. It is the culmination of a long-term upstream strategy that is now translating into hard value barrels, cash flow, and renewed confidence in indigenous capacity.

At the heart of the transaction is a portfolio rebalancing agreement that sees TotalEnergies deepen its interest in an offshore asset while Conoil consolidates full ownership of a producing block critical to its medium-term growth trajectory. The parties have not publicly disclosed the monetary value, industry analysts place similar offshore and shallow-water asset transfers in the high hundreds of millions of dollars, depending on reserve certification and development timelines. What is indisputable, however, is the deal’s structural clarity: each partner exits with assets aligned to its strategic strengths.

For Conoil, the transaction represents something more profound than asset shuffling. It is the validation of an indigenous oil company’s ability to operate, produce, and partner at scale. That validation was already underway in 2024, when Conoil achieved a landmark breakthrough: the successful production and export of Obodo crude, a new Nigerian crude blend from its onshore acreage.

In a country where new crude streams have become rare, Obodo’s emergence signalled operational maturity. More importantly, it shifted Conoil from being perceived primarily as a downstream and marginal upstream player into a full-spectrum producer with export-grade assets.

The commercial impact was immediate. Obodo crude enhanced Conoil’s revenue profile, strengthened cash flows, and materially improved the company’s asset valuation.

For Mike Adenuga, Obodo represented something else entirely: oil income with scale and durability. Producing crude shifts wealth from theoretical to realised. It is the difference between potential and proof.

That momentum was reinforced by Conoil’s acquisition of a new drilling rig, a move that underscored its intent to control not just resources, but execution. In an industry where rig availability often dictates production timelines, owning modern drilling capacity gives Conoil a strategic advantage lowering costs, reducing dependency, and accelerating development cycles. It also enhances the company’s bargaining power in partnerships such as the one with TotalEnergies.

Taken together, the Obodo crude success, the rig acquisition, and the TotalEnergies transaction, these moves materially expand Conoil’s enterprise value. While private company valuations remain opaque, upstream assets with proven production, infrastructure control, and international partnerships typically command significant multiple expansion. For Adenuga, all of these represents a stabilising and appreciating pillar of wealth.

As The Boss Newspapers honours Mike Adenuga as Boss of the Year 2025, the recognition lands at a moment when his oil ambitions are no longer peripheral to his legacy. They are central. In Obodo crude, in steel rigs, and in carefully negotiated partnerships, Adenuga is shaping a version of Nigerian capitalism that privileges patience, scale, and execution over spectacle.

In the end, the most powerful statement of wealth is not net worth rankings or headlines. It is the ability to convert strategy into assets, assets into production, and production into national relevance. On that score, the Conoil–TotalEnergies deal may well stand as one of the most consequential chapters in Mike Adenuga’s business story and in Nigeria’s evolving oil future.

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