society
Fueling Uncertainty: Investigating Nigeria’s Subsidy Removal And Dangote Refinery Debacle* By Sylvester Audu
*Fueling Uncertainty: Investigating Nigeria’s Subsidy Removal And Dangote Refinery Debacle*
By Sylvester Audu
*In the midst of dwindling revenues and skyrocketing subsidy costs, Nigeria has taken a bold step by removing fuel subsidies, igniting controversy and unrest among its population. Despite the opposition’s claims that subsidy removal will disproportionately affect the poor, the government’s redirection of funds towards crucial sectors such as health and education paints a promising picture for Nigeria’s future. The recent World Bank loan of almost a billion dollars for palliative measures may provide temporary relief, but it is not seen a sustainable solution*.
However, the fate of the much-anticipated Dangote Refinery, meant to reduce Nigeria’s reliance on imported petroleum products, remains uncertain as unforeseen technical difficulties delay its completion.
The Dangote Refinery, announced in 2013 with an initial $3.3bn loan deal with local and foreign banks to fund the construction, was expected to transform Nigeria’s reliance on imported petroleum products and boost the country’s economy. With an initial completion date of 2018, the refinery was planned to produce enough refined petroleum to meet domestic needs and provide a surplus for export. However, the project has been plagued by continuous delays, attributed to factors such as lack of technical expertise, financial constraints, and poor project scoping.
*Reports suggest that the Dangote Group is lobbying for an additional $3 billion cash injection, which could add to Nigeria’s debt burden and divert funds from more immediate solutions to the subsidy removal. Adding to the concerns surrounding the Dangote Refinery is the agreement between the Nigerian government and the Dangote Group. The Nigerian government in 2021 agreed to provide $2.7billion in cash-and-crude to the Dangote Group to fund the construction of the refinery in return for 20% equity. On December 1, 2021, the Federal Government through NNPC made a payment of $1.038billion in two tranches of $519.5million each to Lekki Refinery Funding Limited account with the beneficiary bank, representing the first cash portion of the deal, with the balance to be paid by the government upon completion of the project. This money was a loan from one of the international finance institutions to NNPC.*
*With the company missing out on interest payments due January 2023 of 750million dollars which is still yet to be paid despite being structured by the banks almost three times, the project is faced with a big dilemma – and with it, Nigeria’s hopes for the refinery.*
As it stands, there is evidence to suggest that the Company has exceeded its single obligor limit with local Nigerian banks and no international bank is willing to extend funds to it. In addition, the company will need at least 3 billion dollars in addition to its annual interest payments of about 700million dollars to complete the project by 2025. Whilst there are already talks for a backdoor arrangement being proposed with the CBN to enable a commercial bank circumvent its single obligor limit to the company in order for it to raise further cash for it to pay its interest obligation of 750million dollars which have fallen due, such a move has been viewed cautiously by supporters and critics of the project alike.
*These reports also suggest that the company unsuccessfully approached the outgoing president Muhammadu Buhari administration to release the remainder cash sum of 1.7billion dollars which was to have been paid upon completion of the project. According to these reports, President Buhari backtracked after further due diligence was done on the project which revealed that the project would not be completed before 2025 unlike the December 2022 date the company had promised at the time of signing the agreement*.
*As a result, intense pressure is now being mounted on the incoming government of Bola Tinubu to pay the remainder sum of $1.7billion dollars upon taking office as well as approve a new cash injection of 3billion dollars and crude for additional 20% equity in the project so the company can raise sufficient cash in the short term to pay outstanding interest costs and complete the project.* This is premised on the fact that the new government has declared it wants to plug revenue gaps by removing the subsidy but the company has now given them the impression that the project will be completed by mid-2024 – which is far from the case. The incoming government must therefore be wary of yet another such lofty promise by the project owners as sources close to the Chinese company brought in to salvage the refinery project say a 2024 date is not feasible.
Should the incoming government go this route, it does nothing to solve the problems with the completion of the refinery, adds further unnecessary debt burden to the country and its citizens, and takes away money from critical and immediate solutions to the subsidy removal. Nigeria is already over-leveraged to the Dangote refinery project.
Many commentators believe that rather than relying on the uncertain completion of the Dangote Refinery, the Nigerian government should focus on the ongoing refurbishing exercise of its existing refineries. This strategy would not only provide a more reliable short-term palliative solution but also pave the way for a smoother transition from imported petroleum products. They should also encourage the modular refineries to ramp up production.
In addition, the Nigerian government should explore alternative strategies, such as investing in renewable energy sources, to reduce the nation’s reliance on imported petroleum products. This approach would provide long-term benefits to Nigeria’s economy and environment, while also fostering self-sufficiency in fuel production.
*The removal of fuel subsidies offers Nigeria a unique opportunity to reassess its priorities and invest in a more sustainable future. By rejecting the new investment proposal for the Dangote refinery which has become an albatross whilst focusing on feasible alternative strategies, Nigeria can emerge stronger and more resilient in the face of global challenges. Can the incoming government afford to mortgage Nigeria’s scarce resources on a false hope? With billions of dollars and the country’s economy at stake, Nigeria cannot afford to pin all its hopes on the Dangote Refinery and even if the new government were to invest further in the project, there must be proper due diligence done before any investment is considered.*
society
Nigerian Prophet Begs Federal Government to Stop Killing of Christians, Backs Tinubu’s Second Term
Nigerian Prophet Begs Federal Government to Stop Killing of Christians, Backs Tinubu’s Second Term
Abuja – Rev Prophet Dr Hungbenu Michael Olusegun, Founder of Celestrial Deliverance Church of Christ in Zhidu Village, Abuja, has made an emotional appeal to the Federal Government to stop the killing of Christians across Nigeria while also throwing his weight behind President Bola Ahmed Tinubu for a second term in office.
Speaking from his Abuja headquarters, the Prophet declared that leadership is a continuum and that Nigeria’s ongoing reforms require stability and time to bear fruit. He said, “Politics has nothing to do with religion. The ballot box is not the altar. Whether you are from the East, the North, the West, or the Yoruba community, we are one people under God.”
Rev Prophet Dr Hungbenu Michael Olusegun used the opportunity to make a special appeal to the Federal Government, saying, “I beg the Federal Government, in the name of God and for the sake of humanity: Please help stop the killing of Christians across this nation. From the villages to the cities, too much innocent blood has been shed. Targeted attacks on Christian communities must stop. We plead for stronger protection, justice for victims, and lasting peace.” He acknowledged the pain of insecurity, especially the killing of Christians and farmers across the Middle Belt and Northern Nigeria, but also noted verifiable security gains under President Tinubu including over 3,000 hostages rescued from bandits and terrorists in the last 12 months, deployment of new attack helicopters and surveillance drones to flashpoints, and a reduction in oil theft from over 400,000 barrels per day to under 200,000 barrels per day.
He said, “The issue is security, and security is everybody’s business. We cannot build a nation if our people are not safe. But we must also acknowledge progress.” He added that a second term would allow the administration to consolidate its security architecture rather than restarting with new leadership.
On economic reforms, Rev Prophet Dr Hungbenu Michael Olusegun argued that President Tinubu’s first term has witnessed the most audacious economic reforms in Nigeria’s recent history, including fuel subsidy removal saving the nation over ₦400 billion monthly, a unified exchange rate attracting over $2 billion in foreign portfolio inflows, the Student Loans Act benefiting over 100,000 students, and local government autonomy. He argued that no major economy in the world has successfully reversed course after landmark reforms within a single term, adding that abandoning the reform agenda now would plunge Nigeria back into uncertainty.
Rev Prophet Dr Hungbenu Michael Olusegun stressed that President Tinubu’s emergence broke a dangerous cycle, noting that Tinubu is the first Southern Muslim to lead Nigeria since 1993, balancing power after eight years of a Northern President. He pointed out that under Tinubu, the South holds the presidency of the Senate but the Speaker of the House is from the North-West. He urged, “Let the East join hands with the West. Let the North embrace the South. Let the Yoruba, Igbo, Hausa, and all 250 plus tribes say: ‘Nigeria first.’”
Drawing comparisons to global examples such as India’s Narendra Modi, Rwanda’s Paul Kagame, and Indonesia’s Joko Widodo, the Prophet argued that second terms deliver long-term prosperity. He said, “Nigeria is not an exception. If we change leadership every four years, we will remain a building site forever.”
Rev Prophet Dr Hungbenu Michael Olusegun closed with a prayer and a charge: “Nigeria will only rise when we rise above division. I am not speaking as Ogu, Yoruba, Igbo, or Hausa. I speak as a Nigerian, and as a minister of the gospel of peace. God bless President Bola Ahmed Tinubu. God bless the Federal Republic of Nigeria.” He urged all Nigerians to pray for the nation, support security agencies, and give President Tinubu the opportunity to complete what he has started. The press release was issued on 20th April 2026 from his church in Zhidu Village behind Piwoyi Village off Lugbe Airport Road, FCT Abuja.
society
₦100 Million Bribe Offer Rejected As Police STS Operatives Expose Criminal Syndicate
₦100 Million Bribe Offer Rejected As Police STS Operatives Expose Criminal Syndicate
The Special Tactical Squad (STS) of the Nigeria Police Force has recorded a major breakthrough in its sustained crackdown on the vandalisation of critical national infrastructure, with the arrest of two notorious suspects and the recovery of railway materials valued at over ₦400,000,000.
Acting on the directive of the Inspector-General of Police, IGP Olatunji Rilwan Disu, psc(+), NPM, to decisively tackle acts of economic sabotage, operatives of the Force Intelligence Department – Special Tactical Squad (FID-STS), under the leadership of ACP Victor Ogbeide Godfrey, executed a swift, intelligence-driven operation that led to the arrest of Chisom Goodnews (32) and Ahmed Adamu (22) on April 9, 2026, in Akwanga, Nasarawa State.
The suspects were intercepted while transporting vandalised railway infrastructure in a calculated attempt to evade detection. Recovered from them was a trailer truck with registration number KRB 355 SX, conveying railway tracks and sleepers weighing approximately 60 tonnes, cleverly concealed under sacks of groundnut shells. Preliminary investigations indicate that the suspects are part of a well-coordinated syndicate responsible for the illegal removal and transportation of railway materials from Bauchi State to Ilorin, Kwara State, representing a significant threat to Nigeria’s transportation infrastructure.
Speaking on the operation, ACP Victor Ogbeide Godfrey revealed that in a desperate bid to compromise the officers and frustrate the arrest, the suspects offered a staggering sum of ₦100 million as a bribe to allow them passage with the illicit cargo. The offer was, however, outrightly rejected by the operatives, who remained resolute in the discharge of their duties. This firm stance underscores the Nigeria Police Force’s renewed commitment to professionalism, integrity, and its zero-tolerance policy towards corruption.
Further investigations are ongoing to apprehend the intended receiver of the stolen materials in Ilorin, as well as other members of the syndicate, while efforts are being intensified to recover additional exhibits linked to the criminal network.
The Inspector-General of Police, IGP Olatunji Rilwan Disu, has reiterated the Force’s unwavering resolve to bring all perpetrators of economic sabotage to justice, warning that acts of vandalisation of public assets will not be tolerated. He assured that all individuals found culpable will be made to face the full weight of the law.
society
Nigeria Police Initiative Targets Youth Vices As POCACOV Undertakes Strategic Visit To Cross River
Nigeria Police Initiative Targets Youth Vices As POCACOV Undertakes Strategic Visit To Cross River
As part of a two-day strategic working visit to Cross River State, the National Coordinator of POCACOV (Police Campaign Against Cultism and Other Vices), SP Orvenonne Ikwen, Ph.D., embarked on a series of high-level engagements aimed at strengthening partnerships, deepening community participation, and advancing the non-kinetic approach to crime prevention across the state, in line with the vision of the Inspector-General of Police, IGP Olatunji Rilwan Disu, psc(+), NPM, whose policing philosophy is rooted in community partnership, public trust, proactive engagement, and preventive policing aimed at building safer communities across Nigeria.
The visit commenced with a courtesy call on the Commissioner of Police, Cross River State Command, CP Rashid B. Afegbua, psc, mnips, who warmly received the National Coordinator and commended the POCACOV initiative for its significant impact in tackling cultism, bullying, drug abuse, gangsterism, school violence, and other social vices affecting young people and vulnerable groups. He reaffirmed the Command’s commitment to supporting proactive policing strategies that promote trust, restore public confidence, and ensure lasting peace and security across Cross River State.
In continuation of the visit, the National Coordinator paid a courtesy visit to the Honourable Commissioner for Youth Development, Barr. Ijom Ukam, who described the POCACOV visit as timely and highly strategic, especially during what he referred to as a volatile and transitional period in society. He emphasized that the engagement reinforces the collective responsibility of government, institutions, and citizens in addressing the growing concerns of social vices among young people.
According to him, “The primary responsibility of every government is the security of its citizens,” noting that the adoption of the non-kinetic approach by the Nigeria Police Force through POCACOV demonstrates that the Police truly care about the future of Nigerian youths. He commended the Nigeria Police Force for embracing preventive policing and pledged the Ministry’s full support for POCACOV activities in Cross River State.
Barr. Ijom Ukam further declared that POCACOV has come to stay in Cross River State and assured the National Coordinator of sustained collaboration in mobilizing young people, creating awareness, and implementing youth-focused interventions that will help eradicate crime and social vices from the state.
As part of the media advocacy component of the visit, SP Orvenonne Ikwen also visited prominent radio stations including HIT FM and Sparkling FM, where she engaged media stakeholders on the need for continuous public sensitization, youth mentorship, and strategic communication in crime prevention. She stressed the critical role of the media in shaping positive narratives, promoting civic responsibility, and supporting national efforts to discourage cultism and other harmful behaviors among youths.
The National Coordinator also met with content creators and digital influencers in the state, including popular creative personality MC Koboko, to strengthen collaboration in using social media and entertainment platforms as tools for advocacy and youth engagement. She emphasized that content creators remain powerful voices in shaping public perception and influencing positive behavioral change among young people. She called for stronger partnerships with creative stakeholders to amplify the message of POCACOV and promote peace, responsibility, and social values across communities.
She noted that POCACOV remains a major strategic initiative of the Nigeria Police Force designed to complement law enforcement with prevention-focused solutions, reflecting the IGP’s vision of policing that is rooted in public trust, inclusiveness, and strong community partnership.
The working visit further strengthened collaboration between POCACOV, the Cross River State Police Command, the Ministry of Youth Development, educational institutions, religious leaders, traditional institutions, parents, and the media, all united in the shared goal of building safer communities and securing a better future for the younger generation.
The visit stands as another strong testament to the Nigeria Police Force’s commitment to preventive policing, youth empowerment, and sustainable peacebuilding through stakeholder engagement and strategic partnerships.
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