Business
Meet The Convener and Discussants of YIGGI
The Youth in Good Governance Initiative, Ogun state is ready to set everywhere ablaze On the 21st of May, 2016 as it presents a Life-changing Programmme tagged ‘Youth In Governance As Panacea To Nigerian Problem’. The Programme promises to lighten up the world of every youth and everyone that will be present with the set of the discussants who are role models in their respective field.
It’s 12days to go, it is going to be expository and educating. You can’t afford to miss it.
Save the date. May 21,2016 @NUJ HALL Iwe-iroyin, Abeokuta
ABOUT THE CONVENER.
Ifemosu Michael Adewale.
Ifemosu Michael Adewale, an indigene of Ogun State, is born into the family of Mr and Mrs Ifemosu, he attended his primary school at Bevola international nursery and primary school, where he was made the Head boy(2001), he later proceeded to Ijebu-Ode grammar School for his senior school certificate where he was made the Chapel Prefect(2008), He proceeded to Federal college of education, osiele, Abeokuta (2010), for his NCE program, where he graduated as an Agricultural science educationist(2013).
During his days at Federal College of Education Abeokuta, he engaged in a lot of activities, where he bagged a lot of certificate and award to his credit.
He was the Agricultural Science Student Association(ASSA) King between 2010-2011, he was two term Honourable member of federal college of education, Student Representative Assembly, Student Union Government between 2010-2013 , he was the Students Electoral committee (Seleco) Coordinator 2012-2013,he was given a merit award by National Association of Ogun State Students (Federal college of education, Abeokuta Chapter) in 2013, he was the National Assistant general secretary of National Association of Ogun State Students (NAOSS National) between 2013-2014, he was the National President, National Association of Ogun State Students (NAOSS National) between 2014-2015, as part of his dedication to the association, his administration is the first to ever release a gyration album which can be downloaded via inputing NAOSS Gyration on any search engines, he is currently the National Coordinator of National Association of Ogun State Students for the 2016 Electioneering.
He is a member of Kegite Club international, ilya Fatika, where he was made the Elder of the club between 2012-2013, he was awarded best Supportive Senior Fellow of Ilya Fatika between 2015-2016,
The executive Governor of Ogun State acknowledged the open letter he wrote to him especially when he challenged the Governor on the truthfulness of the 40projects commisioned during Ogun State at 40.
Ifemosu Michael Adewale recently made a bright effort when he took a case of a battered student of Abraham Adesanya Polythecnic submitted to him by RRA and consult, on behalf of National Association of Ogun State Students (NAOSS National) upon himself to ensure justice is done, the matter got the attention of Nigerians as it was published on various top Nigeria blogs and Newspapers. The popular Nigerian blogger Maiyeguns Diary published the story on the 19th of April, 2016, the Nation Newspaper and Punch newspaper published the story on the 23rd and 24th April, 2016 respectively.
Ifemosu Michael Adewale also declared his intentions to contest for the Councillorship elections in the 2016 Local Government elections under Ifesowapo LCDA, Odogbolu Local Government.
Ifemosu Michael Adewale is a prolific writer that an attempt to input his name on any of the search engines will surprise you.
He is currently the convener, initiator of Youth in Good Governance Initiative (YIGGI).
ABOUT OUR DISCUSSANTS
ISHOLA ADEBAYO, MANAGING PARTNER – LEAD RESOURCES
As a social-media techpreneur, Ishola Adebayo is the Managing Partner of LEAD Resources Centre — LEAD Resources Centre is housed at the Asero Housing Estate, Abeokuta; LEAD Resources is a social-tech innovation hub space in Abeokuta, which serves as a pre-incubation lab for technologists, social entrepreneurs, government, tech companies, and impact investors in and around Ogun State to co-found new solutions to the many social problems in Nigeria.
He is currently undergoing a postgraduate degree program (MSc) in Economics at the Olabisi Onabanjo University, Ago-Iwoye and holds a BSc (Ed) in Economics from the prestigious Tai Solarin University of Education, Ijagun, Ijebu-Ode, Ogun State. He served as a youth corps member at the National Assembly attached to the Senate Committee on Agricultural and Rural Development during his NYSC program.
DAMOLA MORENIKEJI
Is a social entrepreneur, and rising voice in education, youth capacity and leadership development in Africa with over six years experience in the development sector. He leads the team at All for Development (@All4Development), an organization he founded at age 16 in Abeokuta, with a commitment to building young leaders and promoting education, leadership & governance, social entrepreneurship, and youth participation in development.
Through All for Development, he had engaged thousands of young people through several initiatives including the Young and Emerging Leaders Summit, Pupil Leadership Programme, Studership (the annual international youth leadership academy), Youth Roundtables, Undergraduate Education Seminar Series and a host of other projects organized in partnership with other organisations across the country. These engagements encourage young people to further understand purpose and live right; serve as platforms and provide resources for continuous growth, education and development; build networks for leadership development and capacities for deepening positive democratic governance; encourage youth-driven social change – through social entrepreneurship –, and harness youthful strengths to optimize purposeful youth participation in nation building.
A 2013 Fellow of the Social Leadership Academy, USA, and 2012 DESPLAY Africa Fellow, Damola currently serves as a Global Youth Ambassador, with a commitment to improving the quality of global education, through advocacy. The Global Youth Ambassadors group, initiated by A World at School, was launched by the United Nations’ Secretary-General Ban Ki-moon and the UN Special Envoy for Global Education, former Prime Minister of the United Kingdom, Gordon Brown on April 10, 2014 in Washington DC, U.S.A. His passion for youth development had been witnessed through his contributions at some platforms for policy development including World Economic Forum on Africa (2014), National Education Stakeholders Dialogue, representing Nigeria at the African Youth and Governance Conference (2012, at age 19), and as a Delegate at the Global Youth Forum held in Bali, Indonesia (December 2012), among others.
He co-founded the Innovate! Hub, a social innovation community that encourages value creation through social innovation/entrepreneurship among young people at age 21 and initiated Studership, the annual international youth leadership academy that connects and equips emerging young leaders at age 19. Studership has since inception enrolled over 100 young leaders from over 30 countries, while members of the Studership community are creating positive change in their communities. A 2013 semi-finalist for the Thiel Under20 Fellowship for social innovators, Damola led Team Innovate! of the Federal University of Agriculture, Abeokuta and emerged one of the best teams in Nigeria and finalist at the ANEW National Ideas Contest organized by the Nigerian Universities Commission for all 128 Nigerian universities, in commemoration of the 2014 Global Entrepreneurship Week.
An avid writer and leadership/personal effectiveness trainer, Damola cut his tooth in creative writing after writing his first book titled ‘Spare the rod and spoil the child’ in year 2002, at age 9. He remains committed to helping young people grow through growth-inclined deliberations, and contributes to development through harnessing platforms for equipping young people to become better leaders and solve societal problems through civic participation and value-based leadership; promoting societal growth and acquiring professional experiences across diverse environments.
Damola is an alumnus of the International Leadership and Organisational Behaviour course offered by SDA Boconni School of Management, Boconni University, Italy; Social Entrepreneurship course by The DO School, Germany; and Adaptive Leadership course by Cambridge Leadership Associate, United Kingdom & +Acumen – among others. An alumnus of Comprehensive High School, Ayetoro, Ogun State, Damola lives his passion for youth leadership and educational development, and is currently concluding his studies at the Federal University of Agriculture, Abeokuta.
He has been commended for his work with several prestigious awards, including a formal commendation from President Olusegun Obasanjo [GCFR]; emerging the only undergraduate recipient of the Vice Chancellor’s Productivity Award from the Senate of the Federal University of Agriculture, Abeokuta; pioneer recipient of the Ogun State Youth Award for Excellence, adjudged by the Ogun State Government of Nigeria (May 2012); Finalist for the ‘Life Changer’s Rising Star award’, United Kingdom (November 2011); ‘Integrity Practitioner Award’ adjudged by ICPC/NAVC, Ogun state (October 2010); ‘The Most Outstanding Secondary School Student in Ogun State (Nigeria) award’ by the Ogun State Teaching Service Commission (January 2010); and 2nd runner up, Ogun State 2006 Artiste of the Year Award, by the Ogun State Government of Nigeria (August 2007), among others.
RIDWAN SORUNKE
Ridwan Sorunke is the Public Affairs Lead of a reputable advisory services firm based in Nigeria, ACIOE Associates, a firm of management, energy, power, government relations and finance consultants. His position covers Government Relations and Public Relations for the firm. He has worked with different local and multinational organizations including the Procter & Gamble Company and Seven-Up Bottling Company. He is experienced in government relations, public relations, crisis and issues management, quality control, and business development.
At ACIOE Associates, Ridwan Sorunke consults for organizations like Corporate Council on Africa, Procter & Gamble, Albright Stonebridge Group and the Nigeria Government. He was a key player in the Corporate Council on Africa’s US-Africa Business Summit and the US Trade Mission to Nigeria where he facilitated business discussions between foreign investors and senior government officials.
Ridwan has engaged in businesses with top officials in the Nigerian Government, captains of industry and international diplomats. He has facilitated and led business discussions between his firm, leading investors in the country and Honorable Ministers of the Federal Republic of Nigeria. He led ACIOE team to the Corporate Council on Africa’s roundtable discussion with the Vice President of Nigeria, His Excellency, Professor Yemi Osinbajo.
Prior to joining ACIOE Associates, he worked for Procter & Gamble Nigeria where he was the Lead for Corporate Communications. He executed key projects like the Procter & Gamble partnership with 5 MDAs on the Growing Girls and Women in Nigeria (GWIN) Initiative. He led Communications and E2E execution of the P&G Hygiene Campaign which supported the Federal Government, Lagos State Government and Ogun State Government through the donation of over 50,000 bars of soaps during the Ebola outbreak in Nigeria. Other key projects include the School Health and Nutrition projects with Save the Children International. He also led various employee engagement initiatives, sustainability programs, and media relations for the company.
He is very passionate about driving investments into the country, empowering the local SMEs and the Nigerian youths. Ambassador Koby Koomson of Ghana described him as the “next big personality in Africa”. During his leisure, he volunteers for Akiode Foundation, a non-governmental organization in Ogun State, with an interest in youth empowerment.
He has delivered career talks to hundreds of youths in the country.
He has a B.Sc. in Microbiology from the Obafemi Awolowo University and has taken courses and trainings in business management, conflict resolution, negotiation, marketing and media relations.
WHYTE HABEEB IBIDAPO
He is a Solicitor and Barrister of the Supreme Court of Nigeria. He is the Principal of Habeeb Whyte Legal and Co. He is a noble minded advocate who works hard to change the course of this generation with the power of the pen and words. He is a young, energetic lawyer who advocates for child protection and creativity amongst youth.
Habeeb has an impressive leadership history coupled with a fantastic writing career.
He is a force to reckon with in Nigeria, when it comes to youth, advocacy and child development and he has been greatly awarded by several organisations for his developmental contributions to the nation’s development.
Habeeb has bagged several international national and awards for his distinctiveness and proactive contributions. These awards include several awards for the moot court competitions; he won the United Nations Fund Population Agency (NIGERIA) International Poster Contest 2004 (KEEPING THE PROMISE): ICPD AT TEN. CATEGOTY III (13 – 15yrs). SECOND POSITION. (Reported in Gateway News & Views: UNFPA NEWSLETTER, VOL: 3, NO. 1, July Edition, 2006). Also the First Regional International Arbitration Moot Competition among African Universities, Lacio, Regency Hotels, Nairobi Kenya. 2011 (FIRST POSITION) reported by The Nation Newspaper on August 25th, 2011. Also reported by Compass Newspaper on August 24th, 2011 and The Tribune Newspaper on August 25th, 2011. The Coca Cola/ NBC The Nation CAMPUSLIFE Award as the PERSONALITY PROFILE REPORTER 2012. (This was reported by The Nation Newspaper on 6th of December, 2012 at page 30 – 32. Also reported by The Nigerian Compass Newspaper on 5th of December, 2012 at page 19). Coca Cola/ NBC The Nation CAMPUSLIFE Award as a runner up in PERSONALITY PROFILE REPORTER 2013. (This was reported by The Nation Newspaper on 19th of December, 2013).
He bagged the QuilPromasidor Second Runner-up for the Best Nigeria Future Writer, 2015. (This was reported by The Nation Newspaper on 25th of May, 2015) among others. Also, he was conferred with the honourary status of a Senior Advocate of the Union by the Student Union Judiciary of University of Ilorin.
Habeeb writes for most of the Nigerian newspapers and this has made him a force to reckon with in the youth circle. Top of his writings in the Newspaper has earned him meetings with great minds and top political leaders in the country. He has over 100 newspaper publications and most can be accessed through Google upon entering his name in the search engine platform. His writings skills have made him got recognition in the Youth sector in Nigeria, He has been adjudged to be one of the most influential Nigerian Youths. He was acknowledged by the President Muhammadu Buhari when he wrote him an Open letter upon assumption of office and also on his plans for the Nigerian Youth constituency in 2015. The executive Governor of Ogun State has acknowledged the open letter he wrote to him especially when he challenged the Governor on the truthfulness or otherwise of the payment of law school bursary during his stay at the Nigerian Law School.
In addition to his fantastic writing career he has at the moment nine academic papers published on various academic journals basically on law from topics based on human rights, electoral law, Islamic law and International Jurisprudence. He has also delivered three papers different symposium and summit all focused on the youth constituency in Nigeria.
He has featured on various radio and television programmes making submissions on things that can be done to better the youth constituency in Nigeria.
As a versatile youth, he has participated and contributed to a lot of events such as the Coca Cola NBC CampusLife Workshops, Building Bridges International Conference, University of Ilorin (2015), 1st African Students For Liberty West African Region Conference, 4th Annual Faculty International Conference on Security, Peace and Conflict Management In Africa: Options For National Integration In Nigeria Conference (2012) and the International Day of African Child Celebration, Abeokuta, Ogun State (2006). And recently he got endorsed by Dream Project Africa (A US based organization) to be among speakers that would be educating students across Nigerian universities on the constitutional rights of victims of sexual harassment and rape on Nigerian Campuses.
Habeeb recently made a bright effort when he took a case of a battered student of Abraham Adesanya Polythecnic upon himself to ensure justice is done.
The matter got the attention of Nigerians as it was published on various top Nigeria blogs and Newspapers.
The popular Nigerian blogger Linda Ikeji published the story on the 19th of April, 2016.
The Nation Newspaper and Punch newspaper published the story on the 23rd and 24th April, 2016 respectively.
As at now he is African Children Voices Ambassador (2007 – 2015), iCI-Hustle Nigeria Initiative Ambassador (2015), Gen Voices Ogun Ambassador (2014), Co-covener Legal Frontiers (2015), Editor Egba Youth Awards Foundation, Convener Egba Future Leaders Summit (2015) and Director of Programmes and advocacy Brain Builder International (2015) and Young Elites Foundation as Director of Sponsorship and Partnerships.
IFEKAYODE AKINBODE
He was born on the 28th of March to the family of Prince S.A Akinbode and Mrs J A Akinbode. He attended Our Lady of Apostles pry School, Ibara Abeokuta and later Macjob Grammar School between 1984-1990. He proceeded to OGUN State Polytechnic to Study Mass Communication (Broadcast Major). He started out early as Human right activist as an undergraduate and held several positions as Student Leader and rose to become chairman of NANS in Ogun Axis
He was also Secretary General of Ogunpoly SUG and Senator to NANS for 4 Years.
He led many popular anti Students Struggles and was detained severally by government security apparatus. As a professional Broadcaster / Journalist he worked in many Media Organizations and won several awards for outstanding performance
He was an Information Officer in Ogun State and he was an independent Presenter/Producer with OGTV and was Head of Presentation with NTA Channel 8 Enugu. On the Political front He was the Chairmanship Candidate of PPN in Abeokuta North in 2012 and served as Special Assistant on Youth Affairs between 2007-2011 to the former Governor of Ogun State (Otunba Gbenga Daniel). He is presently the CEO of Imperial Media.
Adebola Ayedun – Solate
She is the Publisher and Editor – in – chief of the reader’s choice magazine- PublicFaces Magazine a colourful general interest magazine in the south Western part of Nigeria. She is also the brain behind the prestigious M19 Ushers.
Recently she initiated an Empowerment programme for young female entrepreneurs called EVEPRENEUR.
The Award winning goal getter is the youngest publisher in Nigeria and the Ogun state secretary of Community Newspapers Publisher Association of Nigeria ( CONPAN )
She recently bags another international Award for VIBRANT ENTREPRENEUR IN ACCRA GHANA.
A product of Moshood Abiola Polytechnic Abeokuta where she studied Mass Communication.
Adejoke Somoye.
Adejoke Somoye is a graduate of Moshood abiola polytechnic, Abeokuta.
She is a freelance media practitioner, she pioneered the cultural radio programme known as EGBA DOTUN LAYE OBA ADEDOTUN.
For adejoke Somoye, the revitalization of Yoruba traditions, especially Yoruba language is her utmost priority.
She amazed and wild everybody when she launched her Foundation called Ewa-ede Caty.
The feat went viral and gained massive publicity through top leading news magazines, The TELL which featured about a four page interview of her visions.
She is currently the convener and initiator of Ewa-ede culture Foundation.if
Bank
Fidelity Bank grows gross earnings by 38% to N434.95b in Q1
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.
Business
Dangote Refinery Ends Nigeria’s Era of Fuel Import Dependence, Boosts GDP, FX Earnings — EIU
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.
Business
BREAKING: Court Dismisses $19.6 Million Claim Against NNPCL — Rules Contract Scope Cannot Be Changed Orally
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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