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“I’m Contesting To Ease The Pains Of Ogun People” …Guber Hopeful, Otunba Deji Adeleye

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Business mogul and former governorship candidate of the Alliance for Democracy in the April 14, 2007  governorship election in Ogun State, Otunba Deji Oshinowo Adeleye, has repeated his desire to throw his hat in the ring once again as the state prepares for the next dispensation in 2019. In this interview, the renowned philanthropist popularly known as ODOA  in the political circle, shares his passion which he says is to turn around the fortunes of Ogun State if elected governor after the tenure of the incumbent; his expectation of Governor Amosun, why he is unstoppable on the governorship mission, and more. Excerpts…   

 

You are one of those eyeing the seat of Governor Ibikunle Amosun in 2019 and you have been so consistent announcing your interest for the office. What is the latest about your aspiration?

One thing that we must avoid in Ogun State is to allow ourselves to fall into wrong hands. What some of us have noticed is that Governor Amosun has a plan to transfer the seat to a candidate of his choice. This is not right as far as democracy is concerned. It must not be allowed because the governorship of Ogun State is not for sale. Let the Adebutus and the Kashamus of this world, and whoever that has the idea of foisting a governor on Ogun State, know that.

There is also Senator Solomon Yayi who is said to be another big challenge to the governor on the 2019 governorship. But you came on to say that Yayi was not a threat to you and that he is not from your hometown where he claims to hail from. Can you explain more about this?

Well, the fact is, Yayi is not a threat in anyway like I have said earlier. Yes, he is not from my hometown. If he is claiming to be from my hometown, then this is a big fraud. I’m not disputing the fact that Yayi is from Ogun State but I don’t know where he comes from. If Yayi is claiming to be from my mother’s hometown, then I’m saying he is not from there. What I’m saying is that we need to be vibrant like Lagos State. People of Ogun State are suffering. I’m not laying claim just because I’m from Ogun East and Ogun West. My father is an Ijebu from Ogun East and my mother is from Yewa in Ogun West. All I want is a situation where the Ogun people are not cheated.

The governor has just appointed Chief Tolu Odebiyi as Chief of Staff. Some are saying he is the governor’s choice for 2019 governorship. Are you also aware of this plot?

I’m aware that the governor now has Tolu as chief of staff. Tolu is my junior brother. He’s my aunt’s son. But I don’t think Tolu is the governor’s choice for 2019. Governor Amosun is just deceiving the Ogun people, he is just playing those who genuinely have interest in the governorship. What he is doing, to the best of my knowledge, is to just fix Tolu there and later he would pick his choice for governor. We cannot all face the same way. This country is lopsided; the Ogun State present structure is lopsided.

How well prepared are you for the governorship dream? Though, you have been constant with the awareness, do you have the structure to support your campaign?

Let me tell you this; Ogun is a state under siege. We are under siege in Ogun State. Amosun is everywhere. You cannot even hold an ordinary meeting in the state without facing attacks from Amosun or his goons. It is that bad. I’m talking about structure. Amosun’s can be likened to the regime of OGD. They say that the future belongs to the youth, but where is the future? Naira and kobo is not what will give the youths the future. They need to wake up and make sure that their future is not jeopardized. If anyone says I do not have a structure, the person doesn’t know what he or she is talking about. I was the Alliance for Democracy (AD) governorship candidate in Ogun State in 2007. Talk about vibrancy, talk about somebody that has the desire to serve and multiply the interest of the people, I’m the man. Talk about the man that is geographically located, I’m the man. Talk about the man that represents the future of the people of Ogun State, I’m the man. Talk about prudence, I’m the man. I’m not the groovy, the gay type that storms every party as if everything is okay; no, things are not okay. Nigeria is not okay, Ogun State is not okay. We don’t have to deceive ourselves, our country is not okay. No sane country operates the way we operate. No sane state operates the way Ogun State under Amosun operates. Amosun is a sole administrator of Ogun State. The people of Ogun State should wake up from their slumber. I’m not going to submit myself to a system like this. Let the youths wake up and realize that the future belongs to them. The rebellion of the belly which Nigerian politicians have introduced is the worst rebellion that anyone can face in the world. The media should also wake up to their responsibilities. The sooner we realize that Ogun State is not for sale, the better for all of us.

How far have you gone with your plan in terms of consulting with those that can help your project?

I have been talking with everyone; I have been meeting with those that have the love of Ogun State at heart. I have met with leaders of thought like Baba Obasanjo and others; I have met with OGD, I have met with everyone that matters and I’m still talking to people that care to listen. We need to realize that some people just sit somewhere milking our state, milking our future. Yayi is coming as a cowboy from Lagos, trying to buy everybody over. It cannot work. Ladi Adetutu wants to buy the office with their lotto money, it cannot work. That’s why I say Ogun State is not for sale. Buruji Kashamu is trying to buy everybody over with his questionable wealth, it cannot work. Governor Amosun is trying to elongate his tenure by installing a puppet governor in 2019, it cannot work. Ogun State is not for sale. You can imagine, Kashamu is elected senator but he cannot even represent the people because he is a dummy senator. The essence of electing a senator is not to distribute rice and oil to the people but to represent the interests of the people. Is the senate a place where you sell rice? You are just there distributing rice, beans andindomie to the people. That is not the work of a senator. The work of a senator is to ensure that the people are well represented and enjoy the largesse of governance. I’m ashamed that the people of Ogun East have a man like Kashamu representing them in the senate.

Are you one of those that reportedly approached Governor Amosun to seek his blessing for their governorship ambition?

No, I’m not one of them. Governor Amosun is someone I respect so much. I do not have any problem with him. He is my friend. Why will I approach him to beg for a position? As a friend, I have been to his office on a number of occasions. I’m a comfortable man. But, you see, we are getting over. We are not supposed to leave this generation stranded. The typical Nigerian youth today is a 419ner, a man who does not know where he is going or what the future portends. That is the state of the Nigerian youth. Therefore, I want to appeal to the governor to finish his tenure and ensure that Ogun State has credible election in 2019. If elected, I’m someone who can ensure that Ogun State generate enough money for development that will surpass that of Lagos State. I do my best, I contribute my quota and I give to people when I can. But the fact is, I’m not a drug dealer. I can only do my best. And I’m not going to be building from city to city just to convince you that I’ve got the resources, like some of our people are doing now. Let the Ogun people open their eyes and see those who will serve their interests genuinely. They should not allow anyone to pull wool over their eyes. I am a man sent to serve Ogun people. I’m a sent man. A sent man is a man on a mission. A sent man is a man with a vision. A sent man is unstoppable. I’m unstoppable on this mission, by God’s grace.

What is your fear, given that politics is a dirty game in this part of the world where you have the challenge of political assassinations, denting of characters and other dreadful realities?

I have no fear of any kind. I fear no foe. See, if you are not determined to be a governor, don’t even venture into it. Politics should be played with maturity. And I do not think anybody would want to attack my life or character because I nurse the desire to serve the people with honesty. Well, except such person or persons want their generations to be forgotten in history. I’m an Oodua. No man can kill an Oodua. I’m a spirit. I have a dream and by God’s grace I’m going to be the governor. I will be the governor ever to serve Ogun State.

On what party platform are you contesting for governorship?

I’m with the flow. I’m contesting on the APC platform, I’m going to run a credible campaign and I’m going to win the primary election. If all aspirants are given a fair playground to campaign, none of the co-aspirants can defeat me in the primary election. I don’t care whether anyone is supported by Washington or Bourdillon, I ’m the man needed by Ogun State people as the next governor.

You state with confidence that you are the next governor of Ogun State, what’s your back-up?

I’m going to win because I’ve not seen in anyone that aspires to that office now who has my kind of back-up. I have friends in high places, locally and internationally. Baba Obasanjo is my friend, Gbenga Daniel is my friend, Buruji Kashamu is my friend, Amosun is my friend. But the problem there is that these people need a stooge, a puppet who would cover their tracks. I am not going to be a puppet governor. But I will not probe anybody. I’m a man, a full fledged man. I’m next in rank as Oba of Odogbolu but I don’t intend to be an oba. We still have an oba in the palace. Even if it happens that it shifts to me, I don’t intend to be an oba. The people of Ogun State have been deceived for too long. I’m going to end that deception. It’s not rocket science to serve the people, leadership is not rocket science. People are hungry. I will do the best that I can to ensure that I bring about change to ease the pains from the past. Education will no longer be a sign of endurance in Ogun State. I’ve enough clout to generate funds to develop Ogun State. I’ve been a supportive businessman for 25 years. I’m into oil and gas. I have businesses in America. I pay my taxes both in Nigeria and abroad. But I will not be a puppet to anyone so I can perform. I will respect every leader, including Baba OBJ and the governors and I will not infringe on their rights and they will have their dues as former leaders. I will not probe anyone but I will not be a puppet governor.

Despite your assurance not to probe any past leader, how would you react if elected and you find any past leader trying to control your government?

The fact is, there is going to be enough money in Ogun State when I become governor. It’s money that makes people to fight. I will make sure that there is enough money for everybody to enjoy himself whether you know me or you don’t. Small and big businesses will thrive under my leadership as Ogun State governor. Every sector will be positively affected if I’m elected to serve. It’s only when you don’t have enough resources to go round that people begin to try to know who the governor is. Who cares who the governor is if the governor is performing and everybody is enjoying. Who cares who the governor is if you are not trampling on their rights. If you have good policies where people have education and are going to school happy, where people have work and money in their pockets, where people get their wages as and when due and where people enjoy stable power, who will care to know who the governor is. My point is, Ogun State will no longer remain the same. The best is yet to come.

How do you spend your leisure time?

I socialize but not much. I’m a very happy man. I enjoy myself. I relax swimming. I listen to good music, Ebenezer Obey is my favourite. I love life and I enjoy life to the fullest. In spite of the economic situation of Nigeria, I love my country and I intend to show the way. That is the difference between me and those who also have the means but still choose to strangulate the masses. We can make a difference by bringing developments to our state by policy formulation.

                 

Are members of your family in support your political career?

Laughs… my wife and children don’t like politics. But you see, every man comes to this world to achieve one thing or the other. There are those who have come to eat and drink, I’m not one of them. This is the class that comes to enjoy money, enjoy life and that’s all. I’m not one of them. I’m a man on a mission. I’m born to serve Ogun State. People would soon realize that indeed God has sent me on a mission.    

Bank

Fidelity Bank grows gross earnings by 38% to N434.95b in Q1

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Fidelity Bank grows gross earnings by 38% to N434.95b in Q1

 

Fidelity Bank Plc recorded 37.9 per cent growth in gross earnings to N434.95 billion in first quarter 2026 as the international commercial bank continued to expand its core banking market share.

 

Interim report and accounts of Fidelity Bank for the three months ended March 31, 2026 released at the Nigerian Exchange (NGX) showed that gross earnings rose from N315.42 billion in first quarter 20025 to N434.95 billion in first quarter 2026, representing an increase of 37.9 per cent.
The top-line performance was driven by impressive growth in the bank’s core business operations with interest incomes rising by 22.8 per cent to N314.48 billion in first quarter 2026 as against N256.10 billion in first quarter 2025.

 

With net interest income at N180.97 billion, the bank closed the period with profit before tax of N92.48 billion. After taxes, net profit stood at N74.47 billion for the three-month period. Earnings per share remained high at N5.69, underlining the capacity of the bank to reward its shareholders.

 

 

The balance sheet of the bank also emerged stronger. Total assets crossed the N11 trillion mark to N11.35 trillion by March 2026 compared with N10.46 trillion recorded in December 2025. Customers’ deposits increased from N6.89 trillion to N7.38 trillion. Total equity rode on the back of earnings growth to a 27.5 per cent increase from N1.09 trillion in December 2025 to N1.39 trillion by March 2026.

 

 

The first quarter 2026 results further consolidated the strong earnings outlook of the bank, which had successfully completed its recapitalisation amidst impressive earnings performance in 2025.
Fidelity Bank had recorded double-digit growths in interest and non-interest incomes as well as key balance sheet items during the year ended December 31, 2025.

 

 

The audited report showed that gross earnings rose from N1.04 trillion in 2024 to N1.52 trillion in 2025, an increase of 45.6 per cent. Interest and similar incomes had grown by 38.7 per cent from N803.1 billion in 2024 to N1.11 trillion in 2025. Fees and commission incomes also rose by 44.7 per cent from N78.4 billion to N113.4 billion. The bank recorded net profit after tax of N242.4 billion in 2025.

 

 

The bank’s balance sheet emerged stronger with total assets rising by 18.6 per cent to N10.46 trillion in 2025 as against N8.82 trillion in 2024. Customer deposits increased by 16.1 per cent from N5.94 trillion to N6.89 trillion, reflecting continued franchise strength and an improved funding profile. Net loans and advances meanwhile declined by 2.4 per cent to N4.28 trillion in 2025 as against N4.39 trillion in 2024, attributable to customers paying down on their mature obligations.

 

 

The bank had in 2025 strengthened its capital position, with eligible capital rising to N561 billion, above the regulatory minimum of N500 billion for banks with international authorisation. In addition, capital adequacy had remained robust, with Capital Adequacy Ratio of 30.94 per cent by December 2025 as against 23.47 per cent by December 2024.

 

Managing Director, Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, said the first quarter 2026 results reinforced the bank’s strong and resilient business model.

 

She noted that with the remarkable success of its recapitalisation programme and continuing expansion, Fidelity Bank has entered a new era of growth and impressive returns.

 

“We are on a stronger footing and confident that we will set new growth records that are reflective of our legacy and the future we are working on,” Onyeali-Ikpe said.

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Dangote Refinery Ends Nigeria’s Era of Fuel Import Dependence, Boosts GDP, FX Earnings — EIU

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NLC Commends Dangote Refinery, Urges FG to Sell Adequate Crude in Naira to Reduce Fuel Prices

Dangote Refinery Ends Nigeria’s Era of Fuel Import Dependence, Boosts GDP, FX Earnings — EIU

The operational ramp up of the 650,000 barrels per day Dangote Petroleum Refinery & Petrochemicals is fundamentally reshaping Nigeria’s downstream oil sector, significantly reducing the country’s dependence on imported refined petroleum products and strengthening its external position, according to the Economist Intelligence Unit (EIU).

In its latest assessment on Nigeria’s fuel market and regulatory environment, the EIU said the refinery has already transformed a sector that was previously characterised by heavy reliance on imported fuel despite Nigeria being Africa’s largest crude oil producer. The report noted that the refinery met nearly 80 per cent of domestic petrol demand in April and produced enough volumes to satisfy local consumption requirements as operations approached full capacity.

The EIU described Nigeria’s downstream petroleum sector before the refinery as “long dysfunctional”, noting that the country had remained almost entirely dependent on costly imported fuel while producing nearly 1.5 million barrels of crude oil daily.

According to the report, the emergence of the refinery has reduced import dependence, improved domestic fuel availability and strengthened Nigeria’s balance of payments position through lower import demand and rising exports of refined petroleum products.

“The gradual ramp up of the 650,000 barrel/day Dangote refinery since May 2023 has transformed Nigeria’s long dysfunctional downstream sector,” the report stated. “The country’s main refineries, all state owned, had been inoperative for years and Nigeria was almost entirely reliant on costly imported fuel.”

The research and analysis division of The Economist Group, London added that the refinery’s attainment of full operational capacity and its planned expansion would further support Nigeria’s economic growth and foreign exchange earnings over the medium term.

“Meanwhile, the attainment of full capacity at, and an increase in exports from, the Dangote refinery will support real GDP growth and foreign exchange earnings in 2026 and 2027 and beyond, as a planned doubling of the plant’s output comes on stream around the end of the decade,” it added.

Industry analysts said the refinery is increasingly positioning Nigeria as an emerging refining and export hub, altering energy trade flows across Africa and reducing the vulnerability associated with fuel import dependence.

The EIU noted that the refinery’s expansion has coincided with major reforms in Nigeria’s downstream sector, including the removal of fuel subsidies and the introduction of market driven pricing mechanisms.

The report, however, said the transition from a state dominated fuel import structure to large scale domestic refining has triggered resistance from interests linked to the old import regime.

The latest tensions emerged following the decision by the Nigerian Midstream and Downstream Petroleum Regulatory Authority to relax restrictions on petrol imports despite the refinery’s growing capacity to meet domestic demand.

Dangote Industries subsequently initiated legal action, arguing that continued import approvals undermine domestic refining investments and conflict with the objectives of the Petroleum Industry Act, which seeks to encourage local refining capacity and reduce import dependence.

Analysts noted that the availability of large-scale domestic refining capacity has improved Nigeria’s energy security and reduced exposure to external supply shocks and foreign exchange volatility.

The Centre for the Promotion of Private Enterprise also cautioned against unrestrained importation of petroleum products, warning that such a policy could weaken Nigeria’s industrialisation drive and discourage investments in domestic refining.

Chief Executive Officer of CPPE, Muda Yusuf, said continued dependence on imported fuel had historically contributed to pressure on foreign reserves, exchange rate instability and fiscal leakages.

The refinery’s growing impact is also being reflected in Nigeria’s broader macroeconomic indicators. Earlier this month, S&P Global Ratings cited increased domestic refining capacity and rising hydrocarbon exports among the major factors supporting Nigeria’s sovereign credit rating upgrade – the first in 14 years.

Beyond Nigeria, analysts said the refinery is increasingly being viewed as a strategic industrial asset for Africa, where many countries remain heavily dependent on imported fuel despite rising demand for transportation, manufacturing, and power generation.

 

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BREAKING: Court Dismisses $19.6 Million Claim Against NNPCL — Rules Contract Scope Cannot Be Changed Orally

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BREAKING: Court Dismisses $19.6 Million Claim Against NNPCL — Rules Contract Scope Cannot Be Changed Orally

 

In a landmark ruling on Friday, May 22, 2026, the Federal Capital Territory High Court in Abuja threw out a $19.6 million lawsuit filed by Alternate Dimensions Ventures Ltd against the Nigerian National Petroleum Company Limited (NNPCL), affirming a key legal principle: a written contract cannot be expanded through oral agreements or conduct.

Alternate Dimensions had sought $19,600,000 in professional fees, claiming the scope of its Direct Sale, Direct Purchase (DSDP e-pro) contract with NNPCL was orally expanded. Represented by counsel Patrick Peter, the firm argued it was entitled to the revised sum for services rendered under the alleged new terms.

But NNPCL, through its lawyer Ituah Imhanze of KENNA LP, pushed back sharply, arguing that parties are bound exclusively by the clear terms of their written agreement. Imhanze contended that without any written amendment, the claim was legally unsound, and the court agreed.

Delivering judgment, Justice Hamza Mu’azu upheld NNPCL’s defense, stating that the contract was unambiguous and that no evidence was adduced during the trial, which supported the alleged scope expansion. The court further found that NNPCL fully complied with all contractual terms and committed no breach.

Dismissing the suit as meritless, Justice Mu’azu reinforced the doctrine of sanctity of contract: any amendment to a written agreement must be express, unequivocal, and documented, not implied or verbal.

The ruling spares NNPCL from the S19.6 million claim and also a floodgate of similar potential liabilities.

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