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Lara Banjoko Advocates Phased deregulation of the petroleum products sector  to ameliorate the suffering Nigerians

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Lara Banjoko Advocates Phased deregulation of the petroleum products sector  to ameliorate the suffering Nigerians

Lara Banjoko Advocates Phased deregulation of the petroleum products sector  to ameliorate the suffering Nigerians

Lara Banjoko, CEO, of Zone 4 Energy Limited and arguably the leading female force who holds the magic wand to turn the fortunes of any moribund petroleum sector company around has lent her voice to the total deregulation of petroleum products in Nigeria as a massive step for petroleum products availability and massive investment/increased employment in the Country.
Lara Banjoko Advocates Phased deregulation of the petroleum products sector  to ameliorate the suffering Nigerians

Lara Banjoko

Banjoko who is a force to be reckoned with in the oil and gas sector opined that deregulation of the petroleum products in phases is the way forward to ameliorate the suffering of Nigerians masses and enable the country implement cushions that will ameliorate the expected changes such a policy will bring to citizens…. She believes such deregulation must be carried out not in a knee jerk approach but with careful and thoughtful planning over a defined period to enable our citizens be able to accept and live with such policy direction.
Banjoko, who also agreed with Asiwaju Ahmed Tinubu on deregulation made the recommendation today in Lagos while reacting to the recurrent scarcity of PMS, also known as petrol in the country.
According to Banjoko,  currently, petrol (which is the primary mover of people across the different strata of Nigeria) is being subsidized under the recovery process in two different and distinct phases…
1. On the costs of purchase
2. On the foreign exchange component of the importation and supply. The product herein is being delivered using the CBN exchange and not the parallel market for such importation….
As such, the advocacy and advice will be a consideration and push towards a phased-out deregulation of the sector…
“The first step is suggested to be on the purchase pricing option. Wherein the foreign component is retained while the product is imported and sold on the prevailing international pricing benchmark”
Furthermore, she states that the second phase will be to remove the foreign exchange component and allow importation and delivery to be at the parallel market (though the belief is that the incoming government must phase out the current regime of multiple exchange rates.
It would be recalled that the deregulation of economic activities which gathered momentum in this country in 1986 under the general programme of Structural Adjustment has been a matter of intense debate among economists, bankers, and members of the public at large.
The monopolistic tendency of NNPC to provide all the petroleum products created some features which have made justification for the deregulation of the sector. The features include a low level of competition, smuggling of petroleum products, monopolistic and sharp practices, the existence of petroleum subsidies, poor maintenance of infrastructural facilities, distortions in product supply and distribution, inappropriate pricing of products supply, and high level of fraud and corruption. According to the PPPRA, Reginald (2009) and Igbikiowubo (2011), the Federal Government of Nigeria wants to deregulate the downstream sector of Nigeria’s oil industry in order to:
• Ensure that petroleum products are made available to consumers in an uninterrupted manner.
• Eradicate waste and corruption which are consequences of a tightly regulated economy. • Ensure that the supply and distribution of petroleum products are orderly and consumer friendly.
 • Channel money realized from the exercise to development projects that will be beneficial to the majority of the people.
 Notwithstanding the above, the office of the Chief Economic Adviser of the president in collaboration with the NNPC and the budget office of the Federation asserted that the rationale behind the Federal Government’s plan to deregulate the downstream petroleum sector includes:
 • To improve the efficient use of scarce economic resources by subjecting decisions in the sector to the operations of the forces of demand and supply.
 • Deregulation will further reduce economic waste and lightens social burdens caused by government control.
 • To expand opportunities for economic growth, a competitive sector and help achieve greater cost-effectiveness. Furthermore, Allison Madueke (2011) harped on the imperatives for the deregulation of the downstream sector including:
• Saving of cost in petroleum subsidies.
• Job creation opportunities.
• Downtime record in the existing refineries.
• Investment opportunities or foreign direct investment in the sector.
Lara Banjoko is the CEO of Zone4 Energy Limited. An epitome of beauty and brain, she is a successful business-woman who has worked so hard to make a name for herself.

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PRESIDENT TINUBU CONGRATULATES OTEGA OGRA ON ELECTION TO WORLD FEDERATION OF ADVERTISERS EXECUTIVE COMMITTEE

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PRESIDENT TINUBU CONGRATULATES OTEGA OGRA ON ELECTION TO WORLD FEDERATION OF ADVERTISERS EXECUTIVE COMMITTEE

PRESIDENT TINUBU CONGRATULATES OTEGA OGRA ON ELECTION TO WORLD FEDERATION OF ADVERTISERS EXECUTIVE COMMITTEE

 

President Bola Ahmed Tinubu has congratulated his Senior Special Assistant on Digital Engagement, Strategy and New Media, Mr Otega Ogra, on his election to the Executive Committee of the World Federation of Advertisers (WFA).

 

The election took place today at the organisation’s Annual General Meeting, held during the Global Marketing Week Conference in Stockholm, Sweden.

PRESIDENT TINUBU CONGRATULATES OTEGA OGRA ON ELECTION TO WORLD FEDERATION OF ADVERTISERS EXECUTIVE COMMITTEE

President Tinubu described the development as a significant step for Nigeria’s growing influence in global communications.

 

He noted that Mr Ogra’s emergence as the only representative from West Africa and Sub-Saharan Africa on the Executive Committee reflects the depth of Nigerian expertise and the contribution of a new generation of young Nigerian professionals to global industry standards.

 

Mr Ogra was elected to the Executive Committee on the platform of the Advertisers Association of Nigeria (ADVAN), underscoring the role of Nigeria’s organised advertising and marketing industry in shaping representation at the global level.

 

The WFA is the leading global body for advertisers, representing over 150 multinational and Fortune 500 companies, alongside national advertiser associations across more than 60 countries, with a combined annual marketing spend running into hundreds of billions of dollars. Its Executive Committee is the organisation’s highest decision-making body, responsible for setting priorities and guiding global policy on responsible advertising, media transparency, sustainability, and the evolution of digital ecosystems.

 

President Tinubu noted that Mr Ogra’s election is both a personal distinction and a strategic opportunity for Nigeria and the African continent, placing them at the centre of global conversations on brand trust, platform accountability, innovation and the future of marketing and communications.

 

The President commended Mr Ogra, who also serves as Vice President of ADVAN, for his sustained contributions to strengthening Nigeria’s marketing and communications ecosystem, drawing on a career spanning leadership roles across the banking, manufacturing, and public sectors.

 

“Otega’s election reflects the growing recognition of Nigerian expertise and affirms our capacity to contribute meaningfully to the frameworks shaping global markets,” the President said.

 

President Tinubu added that the achievement aligns with his administration’s Renewed Hope Agenda, particularly in advancing the creative economy, strengthening digital governance, and positioning Nigeria as a competitive hub for innovation and enterprise.

 

Josh Faulks, CEO of the Australian advertiser association (AANA), and Simon Michaelides, Director General of the UK advertiser association (ISBA), also join the leadership team.

 

Current members of the executive committee, David Wheldon, President and Philip Myers, Deputy President, who is also the Chief Institutional Affairs and Corporate Communications Officer at Ferrero, continue in their current roles, as do all regional vice presidents.

 

 

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Hold Peter Okoye Responsible If Any Harm Comes To Our Member – NASRE Fires Back At Singer

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Hold Peter Okoye Responsible If Any Harm Comes To Our Member – NASRE Fires Back At Singer

Hold Peter Okoye Responsible If Any Harm Comes To Our Member – NASRE Fires Back At Singer

 

 

The Nigerian Association of Social and Resourceful Editors (NASRE) has raised alarm over an alleged threat by Afrobeat artist Peter Okoye (Mr P) against journalist and NASRE Directorate member, Mr Bayo Adetu, warning that the singer will be held responsible should any harm come to the journalist or his family.

Hold Peter Okoye Responsible If Any Harm Comes To Our Member – NASRE Fires Back At Singer

 

In a press statement issued on April 20, 2026, NASRE’s leadership, led by Comrade Femi Oyewale, expressed concern over the incident reportedly occurring at the Ikoyi High Court during proceedings in the ongoing legal dispute involving P-Square and their elder brother, Jude Okoye.

 

 

NASRE views the alleged statement as inappropriate and unacceptable, stating that any language suggesting intimidation against a journalist performing lawful duties raises serious concerns about press freedom, safety, and professional ethics.

 

 

The association has therefore called on Mr Peter Okoye to retract the alleged statement and issue a public apology to Mr Bayo Adetu, while also urging all parties involved in the ongoing legal matter to conduct themselves with restraint, respect, and strict adherence to the rule of law.

Read the statement below:

PRESS STATEMENT
For Immediate Release

NASRE RAISES ALARM OVER ALLEGED THREAT BY PETER OKOYE (MR P) AGAINST BAYO ADETU IN COURT, WARNS OF CONSEQUENCES

The leadership of the Nigerian Association of Social and Resourceful Editors (NASRE), led by Comrade Femi Oyewale, expresses concern over an alleged threat issued by popular Afrobeat artist Peter Okoye, widely known as Mr P, against journalist and NASRE Directorate member, Mr Bayo Adetu.

The incident reportedly occurred at the Ikoyi High Court during proceedings in the ongoing legal dispute involving the music duo P-Square and their elder brother, Jude Okoye. Eyewitnesses present in court stated that Mr Peter Okoye drew the attention of Justice Alexander Owoeye to Mr Adetu’s presence, noting that he was formerly P-Square’s publicist but now works with his brothers. The remark reportedly generated reactions in the courtroom.

It is further alleged that after the court session, Mr Peter Okoye confronted Mr Adetu in the presence of others and said, “You, Bayo, I will set you up.”

NASRE views this alleged statement as inappropriate and unacceptable. Any language suggesting harm or intimidation directed at a journalist performing lawful duties raises serious concerns regarding press freedom, safety, and professional ethics.

We state unequivocally that should anything happen to Mr Bayo Adetu or any member of his family, Mr Peter Okoye will be held accountable. Such statements, when directed at a media professional, are taken with utmost seriousness.

NASRE will not tolerate any form of intimidation, harassment, or threat against its members. We are fully prepared to activate all lawful media and legal channels to protect our members and safeguard the integrity of the profession. Mr Peter Okoye must be aware that utterances of this nature carry consequences and he will be held responsible for any outcome arising from this matter.

We therefore call on Mr Peter Okoye to retract the alleged statement and issue a public apology to Mr Bayo Adetu. We also urge all parties involved in the ongoing matter to conduct themselves with restraint, respect, and strict adherence to the rule of law.

The safety of journalists remains paramount, and the media will not be silenced.

Signed:
Lateef Owodunni
Media Director, NASRE
April 20, 2026

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Fuji Star, Saheed Osupa Addresses Prado Controversy, Says Vehicle Was Compensation — Not Political Gift

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Fuji Star, Saheed Osupa Addresses Prado Controversy, Says Vehicle Was Compensation — Not Political Gift

By Alhaji Arems (Baba Fuji)

 

 

Nigerian Fuji star Saheed Osupa has responded to a wave of political controversy surrounding his recent campaign appearance in Oyo State, clarifying that a vehicle linked to the debate was not a political gift but compensation tied to a professional engagement.

The backlash followed the circulation of a Facebook Reel showing Osupa performing at an event associated with Sharafadeen Alli, who has declared interest in the Oyo State governorship under the All Progressives Congress (APC). As the video gained traction, it sparked renewed scrutiny over entertainers’ roles in political campaigns and the assumptions that often follow such appearances.

Amid the reactions, individuals aligned with the Peoples Democratic Party (PDP) circulated claims on social media alleging that Osupa, alongside gospel artist Yinka Ayefele, had previously received luxury vehicles from the administration of Oyo State Governor Seyi Makinde. The claims, which remain unverified, framed the alleged gesture as an example of questionable public spending and raised concerns about political loyalty.

Osupa has since pushed back against that narrative, offering a different account of events. In a video statement, the artist explained that his involvement in the campaign was strictly professional, based on a negotiated performance agreement rather than any form of political alignment.

According to him, he was engaged to perform at campaign events with assurances that he would be adequately compensated after the election. He, however, alleged that those commitments were not fulfilled following the electoral victory.

Addressing the controversy surrounding the vehicle, Osupa stated that his personal car was damaged during the course of the campaign. He said the replacement vehicle later provided to him was intended as compensation for that loss, not a discretionary gift or political reward.

His response reframes the discussion from one of political patronage to a dispute over professional obligations—an important distinction in an environment where entertainers are frequently enlisted to support campaign visibility.

The episode highlights a recurring tension within Nigeria’s political landscape: the blurred line between performance and perceived allegiance. For artists, participation in campaign activities can quickly shift from paid engagement to public endorsement in the eyes of observers, particularly when details of such arrangements are not clearly communicated.

Osupa’s clarification brings that tension into focus, underscoring how easily professional engagements can be recast within political narratives. As conversations continue, the situation points to a broader need for transparency in the relationship between public figures and political actors—especially in moments where perception can carry as much weight as fact.

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