Business
House Of Representatives suspends Jibrin for 6-Months over budget padding unfolding scandal
The House of Representatives on Wednesday suspended Abdulmumin Jibrin, a lawmaker from Kano at the centre of the unfolding budget padding scandal, for 180 legislative days.
The House seats three days in a week and this consequently means that Mr. Jibrin’s suspension would last more than a year.
In a motion recommended by House Ethics Committee chairman, Nicholas Ossai, and adopted by the whole House, Mr. Jibrin will also not be able to hold any position of responsibility for the span of the current National Assembly.
Mr. Jibrin began stirring what experts now described as one Africa’s biggest parliamentary scandals in recent memory on July 21, a day after he was eased out as chairman of the powerful committee.
Although the House was taking a two-month recess at the time, Mr. Jibrin remained resolute in his quest to “end the massive corruption in the House.”
“My resolve to champion this cause was borne out of patriotism and desire to complement the present administration’s anti-corruption war from the legislative front,” Mr. Jibrin said in an email to PREMIUM TIMES on August 21.
Mr. Jibrin said the campaign had earned him “blackmail, propaganda and campaign of calumny” from Mr. Dogara, lawmakers loyal to him and their proxies.
The assault had been largely targeted at the Speaker of the House, Yakubu Dogara, and three other principal officers, whose resignation and prosecution he had continued to demand.
Mr. Dogara had announced the removal of Mr. Jibrin in a speech he read in plenary on July 20, alleging budget fraud and serial betrayal of trust.
To back his allegations against Mr. Dogara, Mr. Jibrin released damning documents to the media.
On July 30, the State Security Service sealed the secretariat of the Appropriation Committee in the National Assembly after Mr. Jibrin raised the alarm that Mr. Dogara had allegedly concluded plans to cart away computers and destroy evidence.
Mr. Jibrin also visited law enforcement agencies, including the EFCC, the SSS and the police, where he said he personally submitted petitions detailing evidence of fraudulent manipulation of budget by Mr. Dogara, his deputy Yusuf Lasun, House Whip, Alhassan Doguwa, Minority Leader, Leo Ogor, and nine others.
After several days of silence, Mr. Dogara succumbed to public demands for him to defend himself and came out with blistering statements denying all the charges against him.
Mr. Dogara took specific issue with the ‘budget padding’ catchphrase, saying it was a strange term to use when describing the actions of the legislature.
He also said lawmakers could not be probed by law enforcement agencies over any infractions in the National Assembly, but later walked back this statement.
At some point, the APC moved to contain the crisis, but its gag order lasted only a weekend.
Consequently, lawmakers began openly criticising Mr. Jibrin for allegedly defacing the National Assembly, dealing a major blow to his crusade.
Mr. Jibrin’s isolation became even more pronounced after 10 principal officers of the House released a statement backing Mr. Dogara and denouncing Mr. Jibrin. Amongst them was Femi Gbajabiamila, the Majority Leader who many thought would be reluctant to openly back Mr. Dogara.
The development sparked speculation that Mr. Jibrin would be suspended upon resumption of the House from recess.
The House resumed on September 20 and a lawmaker loyal to Mr. Dogara moved a motion the next day to have Mr. Jibrin probed for allegedly breaching the privileges of the members.
Emmanuel Orker-Jev, a lawmaker from Benue, proposed tough sanctions against Mr. Jibrin for the damage his allegations have allegedly wrought on the House.
“The image of the House has never been worse than this before. Hon. Jibrin was reckless and the allegations were false. He knew that the allegations were false and scandalous and he had no regards at all to whether the allegations were true or false,” Mr. Orker-Jev said.
The House subsequently assigned the matter to its Ethics and Privileges Committee for further investigation and to report back within a week with its findings and recommendations.
Mr. Ossai, chairman of the committee, convened the first hearing on the matter September 23, during which Mr. Orker-Jev submitted his allegations against Mr. Jibrin.
Mr. Jibrin received an invitation to appear before the committee on Monday. But decided to boycott the hearing, even though his demand that the sitting be thrown open to the public was met by Mr. Ossai. Mr. Jibrin also asked his lawyer, Femi Falana, to seek discontinuation of committee’s actvities in court.
Mr. Ossai said Mr. Jibrin’s failure to appear before his “properly and constitutionally constituted committee” was, in effect, a defence.
Mr. Jibrin had on Tuesday alleged subjudice saying the committee should not have sat since the matter was in court.
Mr. Jibrin’s suspension would see him banned from the premises of the National Assembly in the course of the disciplinary action. He would also not receive salaries or allowances.
Some sympathisers of Mr. Jibrin saw his suspension as partisan, draconian and counterproductive.
“This show of partisanship and support for Mr. Dogara is condemnable and too severe,” said a political analyst, Gbola Oba.
Mr. Oba said Mr. Jibrin had suffered the same fate as Dino Melaye who was suspended in 2010 for breach of members’ privilege. Mr. Melaye is now a senator representing Kogi West.
“We knew they would gang up against him as they did against Mr. Melaye,” Mr. Oba said. “This clearly shows that the House has failed to move beyond its counterproductive ways of suspending anyone who challenges the status quo.
“If the House were a serious body, serious attention would be given to Mr. Jibrin’s claim so as to foster a thriving democratic experiment within the country.”
– Premium Times
FirstBank Makes Home Ownership Possible for Nigerians with Single-Digit Interest Rate Loan
For millions of Nigerians, homeownership has long felt like an ambition deferred. Squeezed by rising property prices, persistent double-digit inflation and high commercial lending rates, the dream of owning a home has remained just that – a dream.
But that narrative is quietly changing. Thanks to FirstBank.
The N1 Trillion Intervention Reshaping Access
In partnership with the Ministry of Finance Incorporated Real Estate Investment Fund (MREIF), FirstBank has unveiled a mortgage opportunity that could redefine access to housing finance in Nigeria.
Backed by the Federal Government’s N1trillion mortgage fund, the initiative is designed to empower Nigerians with affordable, long-term credit to own their homes.
9.75% Interest Rate in a 30% Lending Environment
MREIF is priced at 9.75% per annum, dramatically lower than prevailing commercial loan rates. Eligible Nigerians can access up to N100 million and repay within 20 years. This translates into significantly more manageable monthly repayments and greater long-term financial stability.
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Alpha Morgan Bank Deepens Presence in Abuja with New Branch in Utako
Marking another milestone in its expansion drive, Alpha Morgan Bank has opened a new branch in Utako, Abuja, reinforcing its strategy of building closer institutional ties within key business communities and bringing its financial expertise closer to individuals, and enterprises driving the city’s growth.
The new branch, located at Plot 1121 Obafemi Awolowo Way, Utako, Abuja is strategically positioned to serve individuals, entrepreneurs, and corporate clients within Utako and surrounding districts.
The expansion follows the Bank’s recently concluded Economic Review Webinar held in February 2026, as the bank continues to position as a thought-leader in the financial services industry.
Speaking on the opening, Ade Buraimo, Managing Director of Alpha Morgan Bank, said the move underscores the Bank’s commitment to accessibility and service excellence.
“Proximity matters in banking. As communities grow and commercial activity expands, financial institutions also evolve to meet customers where they are. The Utako Branch allows us to deliver our services to people in that community efficiently while maintaining the high standards our customers expect,”
The Utako location will provide a full suite of retail and corporate banking services, including account opening, deposits, transfers, business banking solutions, and financial advisory support.
Customers and members of the public are invited to visit the new Utako Branch to experience the Bank’s approach to satisfying banking.
Dangote Refinery Prioritises Domestic Supply Amid Global Energy Turbulence
By George Omagbemi Sylvester | Published by SaharaWeeklyNG
“Nigeria insulated from international fuel shocks as Dangote Petroleum commits to uninterrupted local delivery.”
Dangote Petroleum Refinery and Petrochemicals has reaffirmed its commitment to prioritising the domestic market, pledging to shield Nigerians from the ripple effects of ongoing global energy disruptions. The assurance, delivered in Lagos on 5 March 2026, comes as international refinery operations experience shutdowns or reduced output due to escalating Middle East geopolitical tensions, which have sent crude oil and petroleum product prices soaring worldwide.
“Our mandate remains clear: Nigeria’s local market takes precedence. In times of global supply shocks, we will continue to ensure that domestic availability of petrol, diesel, and kerosene is uninterrupted,” said Mr. Folorunsho Alakija, spokesperson for Dangote Petroleum Refinery.
The refinery’s declaration arrives amid mounting concerns over fuel scarcity, triggered by export restrictions imposed by major international producers, including China, and shipping delays that have further tightened global petroleum supply chains. Industry analysts have hailed the domestic focus as a critical buffer against volatility that could otherwise push Nigeria into deeper energy insecurity.
Domestic Shield Against Global Disruption
Dangote Refinery, Africa’s largest oil processing facility, has leveraged its multi-million-barrel refining capacity to mitigate Nigeria’s historical dependence on imported petroleum products. The company emphasised that prioritising local supply provides a strategic advantage in insulating the nation from international market shocks.
“Our refinery’s scale allows Nigeria to withstand short-term external disruptions. We have the infrastructure and capacity to meet local demand even when global supply chains falter,” explained Mr. Chijioke Okonkwo, Operations Director at Dangote Refinery.
The proactive approach is particularly significant as several international refineries have either reduced throughput or temporarily halted operations, causing a global scarcity of refined products. Experts warn that without domestic cushioning, fuel prices in Nigeria could have surged sharply, exacerbating inflationary pressures in a fragile economy.
Managing Costs While Prioritising Supply
In response to rising procurement costs for crude oil amid the international crisis, Dangote Refinery introduced a modest ₦100 per litre increase in the ex-depot price of Premium Motor Spirit (PMS), absorbing roughly 20 percent of the cost escalation to lessen the impact on consumers.
“We are balancing operational sustainability with affordability. While global prices have risen sharply, we have chosen to absorb a significant portion to protect Nigerian households and businesses,” noted Mr. Emmanuel Adeyemi, Chief Finance Officer.
This pricing strategy underscores the refinery’s dual focus: ensuring uninterrupted supply while cushioning the public from abrupt spikes that could destabilize economic activity. Industry observers have lauded the approach as pragmatic, considering the volatility in international oil markets.
Strategic Distribution Initiatives
Beyond refining, Dangote Petroleum has initiated Compressed Natural Gas (CNG) powered trucks to enhance nationwide distribution efficiency. The initiative seeks to reduce logistics costs and carbon emissions while ensuring a more reliable delivery network to petrol stations across urban and rural areas.
“Logistics is a critical part of the energy supply chain. By deploying CNG-powered trucks, we reduce dependency on expensive diesel, lower delivery costs, and improve supply reliability across the country,” explained Ms. Funke Adedoyin, Head of Logistics Operations.
This strategic move reflects a broader commitment to modernising Nigeria’s petroleum distribution infrastructure, reducing bottlenecks that have historically contributed to scarcity at retail outlets.
Implications for National Energy Security
Nigeria has historically struggled with fuel imports to meet domestic demand, making the country vulnerable to international market fluctuations. Dangote Refinery’s prioritisation of local supply mitigates this vulnerability by leveraging home-grown refining capacity, which allows for timely access to petroleum products and less reliance on foreign shipments.
“With Dangote Refinery leading local prioritisation, Nigeria is less exposed to global fuel shocks. The country is moving towards self-reliance in petroleum product supply,” commented Dr. Halima Suleiman, energy sector analyst.
Experts note that sustained operations at the refinery not only enhance energy security but also preserve foreign exchange, reduce import bills, and stabilise domestic market prices.
Corporate Social Responsibility and Market Stability
The refinery’s commitment is part of a broader corporate responsibility framework. Dangote Petroleum continues to engage with government agencies and regulatory bodies, ensuring that domestic supply is coordinated with Nigeria’s Petroleum Product Pricing and Regulatory Agency (PPPRA) to prevent panic buying and market distortions.
“We are in constant consultation with the government to ensure that our supply strategies align with national economic priorities,” said Mr. Alakija.
Such collaboration helps avert artificial shortages, stabilises pump prices, and maintains confidence in the domestic fuel market. Analysts argue that this approach exemplifies how private sector capabilities can complement governmental policies to enhance national resilience.
Navigating Global Uncertainties
The refinery operates in a complex global environment, where geopolitical crises, shipping constraints, and crude oil volatility can trigger disruptions. Dangote Petroleum’s domestic-first approach positions Nigeria to weather such crises more effectively.
“Global uncertainties are unavoidable, but our infrastructure and strategy ensure that Nigerians remain insulated from immediate shocks,” said Mr. Okonkwo.
This emphasis on resilience aligns with global best practices, where national refining capacity is leveraged to protect local markets from international supply disruptions.
Stakeholder Reactions
The government, civil society, and industry stakeholders have welcomed Dangote Petroleum’s strategy. Officials from the Federal Ministry of Petroleum Resources noted that prioritising local supply aligns with Nigeria’s energy security policies and reduces the burden of foreign exchange expenditures on crude imports.
“Dangote Refinery is demonstrating leadership. Its domestic prioritisation ensures that the Nigerian economy remains insulated during turbulent global markets,” said Dr. Tunji Olumide, Special Adviser on Energy.
Consumers have also expressed cautious optimism. Retail operators and commuters reported steadier fuel availability in Lagos and other cities, though concerns remain about sustained pricing and distribution efficiency.
The Road Ahead
While Dangote Refinery’s strategy provides immediate relief, experts argue that long-term stability requires further investments in alternative energy, diversified refining infrastructure, and strategic reserves. This ensures that Nigeria can withstand global shocks without relying excessively on imports or temporary supply adjustments.
“Short-term measures like prioritising local supply are critical, but long-term energy security demands diversification, renewables adoption, and consistent policy implementation,” said Dr. Suleiman.
The refinery is exploring additional initiatives, including expanding storage capacity, upgrading pipeline networks, and adopting technology-driven monitoring systems to ensure supply continuity across the country.
Final Take
By prioritising domestic fuel supply amid global market turbulence, Dangote Petroleum Refinery and Petrochemicals has demonstrated its role as a stabilising force in Nigeria’s energy sector. Through strategic logistics, modest pricing adjustments, and engagement with government regulators, the refinery is insulating the nation from international shocks while maintaining operational sustainability.
“Our responsibility extends beyond profitability; it’s about ensuring Nigerians have reliable access to essential fuel. We take that mandate seriously,” concluded Mr. Adeyemi.
The refinery’s actions offer a blueprint for how large-scale domestic capacity can protect national economies in times of global energy instability, underscoring the critical intersection of private sector resilience, public policy, and national energy security.
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