Business
Fuel scarcity: APC senators frustrate move to summon Buhari
ABUJA—EFFORTS by senators of the opposition Peoples Democratic Party, PDP, to convince the Senate to summon President Muhammadu Buhari to give reasons for the ongoing fuel scarcity in the country, were frustrated, yesterday, by their counterparts in the ruling All Progressives Congress, APC.
The PDP senators, who berated the President’s handling of current economic situation in the country, insisted that he be made to a appear before the Senate to give explanations on the cause of the fuel scarcity and how he intended to solve the issue as Minister of Petroleum.
Their frustrated efforts came following a motion, tagged: “The current fuel scarcity all around the country and the need to urgently resolve the crisis,” sponsored by Senator Jibrin Barau, APC, Kano North and 23 other senators, which was debated upon.
Speaking through Senator Enyinnaya Abaribe, PDP, Abia South, the opposition senators accused the President of mismanaging the country’s oil sector, causing untold hardship for Nigerians, barely six months after being in the saddle as president.
But the Senate, in a reaction to the development, said the President could not be summoned even as Minister of Petroleum.
The red chamber, reacting through its chairman on Media and Publicity, Aliyu Sabi, insisted that the fact that the President was overseeing the Petroleum ministry as a substantive minister, did not make him to be easily summoned like other ministers.
Abaribe had, while contributing to the motion, urged the Senate to summon President Buhari to explain why the Federal Government was yet to find solutions to the continued fuel problem in spite of its claim that the refineries in the country were working.
He said the unnecessary hardship occasioned by the scarcity could only be resolved if lawmakers were adequately briefed on the true state of affairs. Senator Abaribe‘s submission received wide support from other PDP senators, as they all hailed him.
Senator Abaribe supported his call with a prayer for adoption but it was defeated when the Senate President, Dr. Bukola Saraki, put it up for a voice vote.
At this point, the APC Senators, who were more in number, defeated their PDP colleagues with overwhelming shout of “yes” against the PDP’s “nay.”
President cannot be summoned —Senate
Earlier, in his motion, Senator Barau regretted that Nigerians were going through untold hardship following the lingering fuel problem.
“We are worried that the scarcity is creating an untold hardship to our citizens who have to pay higher prices for these products especially petrol. We are convinced that the current situation is not in tune with the desire of the progressively inclined government to bring succour to Nigerians in all spheres of their lives,” Senator Jibrin noted.
But at a briefing after the plenary session, Chairman, Senate Committee on Media and Publicity, Aliyu Sabi, explained why President Buhari could not be summoned by the Senate.
He said as the Commander-in-Chief, it was wrong to invite him to appear before the Senate, despite the fact that he was the Minister of Petroleum.
Senator Sabi said in the place of President Buhari, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu would be summoned to brief the Senate on plans put in place by the Federal Government to end the fuel scarcity.
Senator Gbenga Ashafa, APC, Lagos East, while also contributing, called for the approval of the supplementary budget which he noted, contained the amount proposed for payment of subsidy to the marketers. He pleaded that the issue be treated with uttermost urgency.
We must reconsider PIB to stop scarcity —Saraki
Meanwhile, Senate President, Dr Bukola Saraki, said the Senate must take the issue of passage of the Petroleum Industry Bill (PIB) seriously if scarcity of petroleum products would end in the country.
Saraki stated this while commenting on a motion seeking permanent solution to recurring scarcity of petroleum products in the country at Senate plenary.
He said with a law regulating the petroleum industry, relevant institutions would function effectively and urged senators not to politicize issues relating to petroleum products production and supply as they affected the live of every Nigerian.
“Scarcity has continued to plague this country and we must find a lasting solution to this problem,” he said.
After debate on the motion moved by Sen. Barau Jibrin (APC Kano North), the senate directed its Committee on Petroleum Upstream to proffer a lasting solution to the recurring problem of scarcity of petroleum products.
The upper chamber sought means of collaboration with the executive to end the recurring fuel supply challenge.
It urged the Nigerian National Petroleum Corporation (NNPC) to continue its current push to stem the scarcity, and commended President Muhammadu Buhari for his commitment in tackling issues in the sector.
Moving the motion earlier, Jibrin expressed worry that scarcity, whenever it occurred, brought untold hardship on Nigerians.
He said that problem was not in line with the goals of the current administration and as such, urged the senate to liaise with the executive and other relevant stakeholders to solve the problem.
In his contribution, Sen. Olugbenga Ashafa (APC Lagos East) recommended stringent punishment, including jail term for marketers who hoard petroleum products.
He said that such marketers contributed in making the lives of Nigerians more miserable, adding that their stations should not just be shut ‘’but they should be jailed”.
“Some marketers derive pleasure in hoarding petroleum products; if we do not set example with such people, the dastardly acts of hoarding will continue.
“Our regulators must ensure that marketers that are hoarding are not just clamped down on but prosecuted.
“We must assist Mr President in reviving our ailing refineries; if our refineries function optimally, we will not have the problem of scarcity,” he said.
On his part, Sen. Eyinnaya Abaribe, specifically said that the “senior” minister of petroleum resources should be summoned to explain the problems with fuel supply.
The senator questioned why the country still paid subsidies and experienced long queues when the present administration had in their campaign promised to end the problem.
“Many thought there will be no fuel queues under the APC but we see it everywhere; we are seeking the approval of over N400billion for payment of subsidy.
“Change has come but there is no change because we are still doing the same things; the fuel queues are still here; the subsidy payment is still there and there is no hope in sight.
“So we are asking, where is this change?
“We will ask the Minister of Petroleum to come and tell this senate what the ministry is doing to solve this problem.
“I support this motion, but I do not support the part where we are thanking a minister for not solving the problem,” he said.
Sen. Adamu Aliero (APC Kebbi Central) said that the issue of deregulation must be revisited if private investors must delve into local refining of crude.
Sen. Dino Melaye (APC Kogi West) in his contribution recalled that the cost of crude has dropped from about 120 dollars per barrel to about 40 dollars per barrel.
He pointed out that the subsidy being paid was what was owed to oil marketers, and urged that the issues should not be politicized.
In the meantime, the North East Development Commission Bill sponsored by Sen. Ali Ndume and Frivolous Petition Prohibition Bill sponsored by Sen. Ibn Na’Allah passed first reading at the Senate on Tuesday.
Also passed for first reading was the National Youth Service Corps (amendment) Bill, 2015 sponsored by Sen Stella Odua (Anambra North).
Source: Vanguard
Business
Aliko Dangote Foundation, WEF Unveil 2026 YGL Aliko Dangote Fellows
Aliko Dangote Foundation, WEF Unveil 2026 YGL Aliko Dangote Fellows
…Spotlighting Africa’s Next Generation of Change Leaders
World Economic Forum (WEF) in partnership with the Aliko Dangote Foundation (ADF) has announced the 2026 cohort of the Young Global Leaders (YGL) Aliko Dangote Fellows, highlighting a new generation of African leaders committed to expanding opportunity and strengthening institutions across the African continent.
The Fellowship serves as a critical bridge between Africa’s emerging changemakers and the global Young Global Leaders network, fostering collaboration, knowledge exchange, and sustainable development. The YGL Aliko Dangote Fellowship supports high-impact African leaders by enabling their full participation in the Forum of Young Global Leaders (YGL) programme and broader WEF activities.
WEF said the 2026 YGL Aliko Dangote Fellows represent diverse professional backgrounds spanning healthcare, technology, entrepreneurship, and advocacy across sub-Saharan Africa. The newly selected fellows are Dr. Esperance Luvindao; Charlot Magayi, Founder of Mukuru Clean Stoves; Rewa Udoji, Founder of Cranstoun; Dr. Stephen Modise; Dr. Musa Kika; Hatim Eltayeb; Kemi Lala Akindoju; and Vimbai Masiyiwa.
With a strong emphasis on empowering women leaders, the Fellowship is designed to support Africans shaping solutions to pressing social and economic challenges while strengthening leadership capacity across key sectors.
Over the past 14 years, the Aliko Dangote Foundation–powered Fellowship has supported more than 130 young African leaders, providing access to Davos meetings, executive education opportunities, and influential peer networks that amplify African voices on the global stage.
Commenting on the announcement, Fatima Aliko Dangote, Trustee of the Aliko Dangote Foundation and Group Executive Director, Oil & Gas, Dangote Industries Limited, described the 2026 fellows as “leaders who will expand opportunity and strengthen institutions, advancing Africa on its own terms.”
She added: “Africa’s future will be defined by the strength of its people. When the right leaders—especially women—are empowered and given a global voice, they do not just lead; they reshape what is possible. That is why we invest in people: because it is the surest path to lasting global prosperity, stability, and self-determination. The 2026 cohort embodies this vision.”
According to her: the 2026 YGL Aliko Dangote Fellows represent that future leaders who will expand opportunity and strengthen institutions, advancing Africa on its own terms while helping define a world whose future will be shaped by the continent.
She explained that the idea behind the YGL Aliko Dangote Fellowship is to cultivate, empower, and support exceptional African leaders under 40, ensuring they have the resources to participate in the World Economic Forum (WEF)’s Young Global Leaders (YGL) community. It specifically aims to accelerate their impact on the continent and globally.
Details of the new fellows in the announcement indicated that; Hatim Eltayeb, is the Chief Executive Officer of African Leadership Academy, strengthening one of the continent’s most important leadership institutions; Dr Esperance Luvindao, Namibia’s Minister of Health and Social Services, combining clinical experience with digital health and grassroots innovation; Charlot Magayi, the Kenyan founder of Mukuru Clean Stoves, linking clean energy, public health and livelihoods; Dr Stephen Modise, Botswana’s Minister of Health, bringing a data-driven approach to public health reform.
Dr Musa Kika, Executive Director of the Institute for Human Rights and Development in Africa, using law to defend constitutionalism and civic space; Rewa Udoji, the Nigerian artist and finance professional whose work bridges culture, capital and women’s economic literacy; Kemi Lala Akindoju, the Nigerian producer and actor helping reshape the creative economy through talent development, financing and more grounded storytelling; and Ms Vimbai Masiyiwa, co-founder and Chief Executive Officer of Batoka Africa, building a model of tourism rooted in sustainability, community ownership and women’s empowerment. Together, they reflect the range of leadership the fellowship is designed to support public leaders, entrepreneurs, institution-builders and cultural actors already shaping systems in very different ways.
It would be recalled that Aliko Dangote YGL Fellowship has supported more than 90 Fellows from over 25 African countries, thus enabling full participation in the World Economic Forum’s Young Global Leaders programme through access to convenings, executive education, peer networks and global platforms.
Over that period, Fellows have taken part in more than 400 engagements across Annual Meetings, regional summits and learning modules, contributing to debates on finance, climate, health, technology and governance.
Business
Norwegian Sovereign Wealth Fund Eyes Partnership with Dangote Group on Africa Investments
Norwegian Sovereign Wealth Fund Eyes Partnership with Dangote Group on Africa Investments
The President/Chief Executive of Dangote Group, Aliko Dangote has held a high-level meeting with Nicolai Tangen, the Chief Executive Officer of Norges Bank Investment Management, the world’s largest sovereign wealth fund manager, overseeing assets valued at approximately $1.9 trillion.
At the meeting, the Norwegian investment institution expressed strong interest in partnering with Dangote Group to expand its footprint across the African continent, with a focus on strategic sectors including power, energy, renewables, agriculture, fertiliser and cement.
Also present at the meeting were Svein Tore Holsether, Chief Executive Officer of Yara International, one of the world’s leading fertiliser and agricultural companies, and Terje Pilskog, Chief Executive Officer of Scatec, a global renewable energy company.
The engagement shows growing global investor confidence in Africa’s industrial and infrastructure potential, as well as the increasing role of indigenous conglomerates such as Dangote Group in driving large-scale economic transformation.
For Dangote Group, the potential partnership represents a significant opportunity to deepen its investments across key sectors critical to Africa’s development, particularly in energy transition, food security and industrial capacity expansion.
The Norwegian sovereign wealth fund, widely regarded as a benchmark for global institutional investment, has in recent years shown increased interest in emerging markets, with Africa seen as a frontier for long-term value creation.
The collaboration between the fund and Dangote Group could unlock substantial capital flows into critical infrastructure and industrial projects, further accelerating economic growth and regional integration across the continent.
Bank
Fidelity Bank Provides Critical Funding Support to Abuja Special Needs Orphanage
Fidelity Bank Provides Critical Funding Support to Abuja Special Needs Orphanage
Leading financial institution, Fidelity Bank Plc, through the Fidelity Helping Hands Programme (FHHP), has funded critical support for the JKS Special Needs Academy in Abuja to ensure continued shelter and care for vulnerable children.
The intervention was facilitated by a group of the bank’s newly recruited employees known as Team Valorem, as part of their induction activities. Through the FHHP, employees are empowered to actively contribute to social development by dedicating their time, resources and skills to impactful projects. Projects executed under the initiative are employee-driven, with teams encouraged to identify causes, contribute fifty percent of the project funding, while the bank matches the contribution.
Speaking during the outreach, Divisional Head, Brand and Communications Division, Fidelity Bank Plc, Dr Meksley Nwagboh, highlighted that the initiative aligns with the Bank’s CSR pillars focused on health & social welfare, and youth empowerment.
“This intervention reflects our belief that building a better society is a shared responsibility. Through the Fidelity Helping Hands Programme, we empower our employees to actively contribute to meaningful social causes. The funding provided will secure the orphanage’s accommodation for an additional year, ensuring a stable and safe environment for the children. This support guarantees that these children continue to have a place they can call home,” Nwagboh remarked.
He also commended caregivers at the facility for their dedication and called for increased focus on empowerment and skill development for children with special needs.
“Beyond providing basic needs, we must provide these children with opportunities to develop skills and become self-reliant. Everyone, regardless of their physical or socio-economic status, has a role to play in the society,” he said.
In her response, Director of JKS Special Needs Academy, Mrs. Nifemi Ajileye, expressed deep appreciation to Fidelity Bank and its staff for the timely intervention.
“We are truly grateful to Fidelity Bank for this support. It will significantly improve the welfare of the children under our care and help us sustain our operations,” she said.
Ajileye highlighted the high cost of caring for children with disabilities, stating that, “Many of the children require continuous medical attention and therapy, which are quite expensive. Support like this helps us bridge critical gaps and continue delivering quality care. This support from Fidelity Bank is timely and it means the world to us and to these children. It will help us continue our work and secure a better future for them,” she added, while calling for sustained support from other organisations.
As an institution with a heart for people, Fidelity Bank continues to demonstrate its commitment to social responsibility by driving inclusive growth and social impact through initiatives that empower communities and improve lives across Nigeria.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 10 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK.
The Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
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