Business
My Reasons For Edo’s Head Of Service Sacks- Oshiomhole

Governor Adams Oshiomhole of Edo State said he asked the immediate past Head of Service of the State, Jerry Obazele, to proceed on compulsory retirement over gross negligence tending towards fraud.
Speaking during the swearing-in of the New Head of Service of the State, Gladys Idahor, at the Government House, Benin City, yesterday, Mr. Oshiomhole said, “I am a defender of jobs. I believe experience is a value to be celebrated, not to be punished. But I have had to arrive at the painful conclusion that Obazele had to be relieved of his services because not only did he fail to provide leadership, he also conducted himself in a way that would have led me to approve of a fraudulent claim for pensioners.
“He was appointed according to my judgment and I accept responsibility for my poor sense of judgment but I also have the courage to correct my mistakes once I discovered it was a mistake.
“The responsibility of a Head of Service is to be a superintendent over the Civil service. There are many of our senior citizens who had retired from service from as far back as 1999, some even under the military and by the time I assumed office, many of these senior citizens had not received their gratuity for over a period of 12, 13 years.
The situation was compounded by the thousands of workers that were retrenched by a former PDP government between 2000 and 2001 and all of those people were not paid their gratuity.
“There is no worst crime to a working man or woman than to deny him his deferred wage which we call gratuity which is meant to be paid at the point of disengagement so he can use the money to establish and face the rigors and reality of retirement.
“We tried to deal with this problem from inception. First, I gave a standing instruction to the Accountant General that pensioners must be paid exactly the same day as the current Civil Servants. It is not that we pay them if there is something left because at the end of the day, nothing will be left when you pay for every other thing. You must give priority accordingly.
“Two months ago, I called the Head of Service and I said, I am looking forward to the end of my tenure. When I say I want to finish strong and finish well, it is not only in the area of physical infrastructure, but I also want to deal with the social sector. I want to look for money and pay a chunk of money to these pensioners so that we can reduce the waiting time.
“So I asked him, do you have the numbers and the cost and he said yes and I told him, let me have the documents. He produced a document which detailed the number of pensioners year-by-year and the amount required year by year.
“No more gratuity based on who you know, it is batch by batch depending on when you retired. So I saw from the records that Obazele gave me that we have paid up to 2010. We have paid many people who retired in 2010 and according to the document, we had 130 persons who retired in 2010 who have not been paid and we had some other persons in 2011, 2012, 2013 and 2014.
“These numbers were stated clearly and he also stated clearly to me how much we required to pay for each year. For 2010, the figure was N175 million to settle the 130 persons. I said, OK, you let me have the names of these 130 persons for 2010 and the names of those who retired in 2011 through 2014 and the amount. The date of the retirement, the day of employment, the total number of years served which is the basis of calculating gratuity.
“One week passed, two weeks and by the 3rd week, I was watching news and I saw pensioners protesting but I had given instructions three weeks earlier that I want to pay these pensioners but I needed the details to do it.
“I told my secretary to call the Head of Service to submit all the details by 11am the next day since he already has the summary so we could start the process of payment. He should come also with the Pension Board Members and all the documents that have to do with pension payments.
“At 11am, they were in my office and they gave me a voluminous document. Just looking at it straight, I tried to look at 2010. Whereas the first document that was given says 130 pensioners have gratuity pending, the total value of which was N175 million, the new document shows 2010 that we have 377 people and we now need N490 million to pay them. For 2011, 2012, 2013, all the figures had changed.
“So I said, I don’t know all the details but 2010, I remember asking you, and you said many have been paid and that only 130 is the number left. So how has this number increased by 300% to 377? Obazele you are an Accountant, you have been Auditor-General, you have been Accountant-General, Permanent Secretary and now Head of Service. You more than me should be at home with figures, how do you explain this?
“The first thing he said was that, you know maybe they changed the mode of calculations. Maybe they are looking at when the papers were prepared rather than when people retired so I said, whatever formula you used, the number must remain the same. The total cost will not change. The only possibility of the numbers changing is if you have doctored the documents.
“In any case, the first document was given to me by you, prepared by ICT and this one you are giving me is also prepared by the same unit. Why should differences occur? If two people use different formula, I can understand.
This is the same source and then he said, ‘oh, I didn’t actually look at the documents’. I said, you didn’t look at the documents you brought to me?
“The document, four persons signed: Accountant and DFA Pension Board signed, Secretary Pension Board signed, Director, ICT Software signed, Permanent Secretary, ICT signed, four signatories .Now, if I hadn’t remembered what they gave me before, seeing four signatories, I would have approved it and the numbers had changed radically.
“Now, the simple thing was that in the past, when they bring this document, I normally minute it to the ICT to crosscheck. So now, they got ICT person to sign so that I have no escape route but trust, there was an escape route and I could see through it. So I called the Director of SSS to send me security officers to the pensions board to retrieve all the files so we could prepare fresh documents that would form the basis to pay those pensioners.
“As a result, my hope and determination to pay those pensioners before my 7th year anniversary was dashed. You see, I had the will, I had looked for the money but somebody in the Civil service compromised my intention by falsifying numbers. That is Civil Servants inhumanity to Civil Servants.
“We had to appoint a new audit firm and they have shown something that will shock you that in the Pensions Board, they prepared for 1 person, 2 pensions with 2 original documents. Same date of birth, same salary, everything same, but two original vouchers. So whereas the real man is old and dying, those that the government has put in place to prepare their pension are busy feasting on the lives of these senior citizens.
“We are disbanding the Pensions Board because they have lived on fraud. Now we are reviewing and re organizing even the ICT, clean it up and ensure we have responsible and competent people with character to man it.
“I believe and I am determined that before Christmas, not later than next week, we will do everything possible to commence the process of paying many of these pensioners whose records have been cleaned up.
“This is the reason I had to take the painful decision of relieving the former Head of Service of his job and in searching for replacement. I know a lady who had managed, easily the most difficult ministry and under whom we have sanitized the ministry of education.
“So I believe that Mrs. Idahor possesses not just the qualification and experience but also the boldness and I know that the service will be in very good hands.”
The governor explained that his decision was taken to protect the interest of the Pensioners and Edo taxpayers and does not have any ethnic or religious colouration.
In her response, the new Head of Service, Mrs. Idahor said, “I want to appreciate the Comrade Governor for finding me worthy of this elevation to the position of Head of Service.
“I want to assure you sir, that the trust and confidence you have reposed in me by this elevation will not be betrayed.
“I’m not unaware of the challenges facing the Civil Service but I want to believe they are not insurmountable. I promise, with God helping me, to re-orientate, reinvigorate and re-organise the public Service for better performance realizing that the Civil service is the engine room of the government.”
Source: Premium Times
Business
TRADEMARK INFRINGEMENT—Federal High Court Abuja Stops Mamuda Beverages from Further Producing its Pop Power Energy Drink in Its Present Bottle Design
TRADEMARK INFRINGEMENT—Federal High Court Abuja Stops Mamuda Beverages from Further Producing its Pop Power Energy Drink in Its Present Bottle Design
In keeping with a clear understanding of conducting business within the confines of the rules, the Federal High Court in Abuja has again ordered Mamuda Beverages Nigeria Limited (“Mamuda”) to stop producing its Pop Power Energy Drink, which infringes on the trademark of the popular Fearless Energy Drink brand of Rite Foods Limited.
This rulings on Mamuda’s Notice of Preliminary Objection and Rite Foods’ Motion for interlocutory injunction were delivered by Hon. Justice B.F.M. Nyako, on Friday, 22nd May 2026, in the Suit No. FHC/ABJ/CS/705/2025. At the proceeding of the day, Mamuda’s Notice of Preliminary Objection was refused and dismissed, while Rite Foods’ application for injunctive reliefs prohibiting Mamuda from further trademark infringement was granted.
In the court’s ruling, Hon. Justice Nyako refused Mamuda’s Notice of Preliminary Objection which had challenged the suit on the basis of abuse of court process and held that Rite Foods’ present complaint of infringement of its intellectual property is distinct from an earlier suit between the parties, wherein Rite Foods had complained about a different act of infringement.
The court further held that it appears on its face that Mamuda’s newly introduced bottle design, manufactured, still bears a striking resemblance to Rite Foods’ established Fearless Energy Drink product. Therefore, the court granted an order restraining Mamuda from further production of its Pop Power Energy Drink product, pending the final determination of the suit.
Accordingly, the court ordered Mamuda to cease production of the product forthwith, destroy all existing products, and directed the court Bailiff, in conjunction with the parties, to undertake an inventory of the products slated for destruction and file the same.
The court further ordered that the injunction shall remain in force until the end of the year or pending the determination of the substantive suit.
Consequently, the court adjourned the suit to Wednesday, 23rd September 2026, for the hearing of the substantive suit.
This order follows an earlier suit against Mamuda in January 2025, where Rite Foods sued the company for infringing on the trademark and design of its iconic Fearless Energy Drink through the launch of a lookalike product, Pop Power Energy Drink.
However, Mamuda, in an apparent admittance of guilt, sought a settlement, and terms of settlement were agreed and filed, and the court entered same as its consent judgment. Some of the terms of settlement included that Mamuda would desist from further violation of Fearless Energy Drink trademark and identity pass-off. It also agreed to destroy all infringing products and pledged to change its design and avoid any form of identity imitation.
In an unexpected turn, Mamuda subsequently reintroduced Pop Power into the market, with only cosmetic adjustments to its appearance. Rite Foods maintains that these changes are minor and do little to address the original issues of consumer confusion. Reports from the market indicate that the new Pop Power continues to be informally referred to as “small Fearless,” reinforcing concerns that the revised product may not only breach the spirit of the earlier agreement but could also undermine consumer clarity and brand differentiation.
While reaffirming its position, Rite Foods stressed its continued commitment to protecting its brand and the principles of innovation and fair competition in Nigeria’s marketplace.
The company emphasized that genuine business growth must be anchored on originality and respect for intellectual property, rather than imitation and fraudulent business practices.
Business
S&P: Dangote Refinery Driving Nigeria’s Economic Resurgence
S&P: Dangote Refinery Driving Nigeria’s Economic Resurgence
The Dangote Petroleum Refinery & Petrochemicals is emerging as a major driver of Nigeria’s improving economic outlook, following the country’s sovereign credit rating upgrade by S&P Global Ratings.
In its latest assessment, S&P upgraded Nigeria’s long term foreign and local currency sovereign credit ratings to “B” from “B-”, citing stronger economic growth, improved external balances, rising oil production, and expanded domestic refining capacity as key factors supporting the country’s recovery.
The global ratings agency specifically identified the operational ramp up of the 650,000 barrels per day Dangote Petroleum Refinery & Petrochemicals as a major contributor to Nigeria’s improving balance of payments position and broader economic resilience.
According to S&P, the refinery’s full capacity operations are helping to strengthen Nigeria’s current account surplus, reduce dependence on imported refined petroleum products, and improve foreign exchange liquidity.
“Significant refining capacity is now also online; Dangote Industries Ltd.’s large scale refinery and petrochemical complex has ramped up to near its maximum capacity of 650,000 barrels per day,” the report stated.
S&P projected that Nigeria’s current account surplus would improve to 5.8 per cent of GDP in 2026 from 4.8 per cent in 2025, supported partly by increased domestic refining and hydrocarbon exports.
The report noted that the refinery is helping to ensure the availability of refined fuel, gas, and fertiliser for the domestic market, while also providing a buffer against global supply disruptions triggered by ongoing geopolitical tensions in the Middle East.
The agency further stated that Nigeria’s improving external position has been supported by reduced fuel import dependence, the removal of fuel subsidies, exchange rate liberalisation, and higher oil production.
Foreign exchange reserves, according to S&P, have risen significantly from about $33 billion in 2023 to nearly $50 billion by early 2026, aided partly by lower import demand for refined petroleum products following the commencement of operations at the Dangote Refinery.
The report also highlighted the refinery’s broader role in supporting Africa’s industrialisation ambitions, noting that Nigeria is transitioning from being primarily a crude oil exporter to an emerging producer and exporter of refined petroleum products.
S&P disclosed that Dangote Industries has already unveiled plans to undertake feasibility studies aimed at expanding refining capacity to about 1.4 million barrels per day from the current 650,000 barrels per day.
The agency said the planned expansion, alongside the rehabilitation of other local refineries, could further strengthen Nigeria’s economy and deliver additional gains to the country’s balance of payments position over the next few years.
While acknowledging that global crude oil prices and market driven pricing continue to influence domestic fuel costs, S&P maintained that the increased local refining capacity provides Nigeria with greater energy security and reduced exposure to external supply shocks.
The report also linked Nigeria’s improving macroeconomic outlook to reforms undertaken since 2023, including exchange rate liberalisation, fiscal reforms, higher petroleum revenue remittances, and efforts to improve oil production through enhanced security in the Niger Delta.
S&P said Nigeria’s economic growth is expected to remain firm despite inflationary pressures, with reforms continuing to support investor confidence and non-oil sector expansion.
The stable outlook, according to the agency, reflects a balance between Nigeria’s improving external position and continuing structural challenges such as a narrow tax base, high inflation, and low formal employment levels.
Business
First HoldCo Group Companies’ Boards and Management teams visit Dangote Refinery
First HoldCo Group Companies’ Boards and Management teams visit Dangote Refinery
…All Nigerians will have access to the Refinery’s IPO and be part-owners-Dangote
Chairman of FirstHoldCo, Femi Otedola, has appealed to the President of Dangote Group, Aliko Dangote, to allocate $100 million worth of shares to him in the proposed listing of Dangote Petroleum Refinery & Petrochemicals. He disclosed that he divested his stake in Geregu Power Plc specifically to position himself for investment in the refinery’s initial public offering (IPO), which he described as a transformative industrial platform helping to free Africa from decades of reliance on imported petroleum products.
Otedola made these remarks during a visit by the FirstHoldCo leadership team to the 650,000 barrels-per-day refinery and Dangote Fertiliser Limited in Ibeju Lekki, Lagos, where he commended Dangote for building the world’s largest single-train refinery and accelerating Africa’s industrial transformation.
“He is a genius and one of the greatest men to emerge from Africa. What he has achieved is helping to liberate the continent from economic dependency and import reliance,” Otedola said. “I have visited this refinery more than 25 times, and I have consistently appealed for $100 million worth of shares during the private placement. That informed my decision to sell my stake in Geregu so I can reinvest in the Dangote Petroleum Refinery.”
Otedola also expressed strong confidence in the Group’s planned expansion of refining capacity to 1.4 million barrels per day, noting that Africa’s growing demand for refined petroleum products clearly supports further investment in domestic refining infrastructure.
In his remarks, President of Dangote Group, Aliko Dangote, assured that the refinery’s IPO would be broadly inclusive, enabling ordinary Nigerians to become part-owners and benefit from its value creation. He emphasised that the Group is committed to democratising access to investment opportunities by opening participation to retail investors across Nigeria and the African continent.
“We want ordinary Africans to participate in the value being created,” Dangote said. “What companies like Amazon and Apple achieved globally in terms of wealth creation is what we seek to replicate in Africa. We want people to invest, grow with us, and share in the prosperity.”
Dangote further disclosed plans for a proposed East Africa refinery with a projected capacity of 700,000 barrels per day, alongside polypropylene and base oil production facilities. According to him, the project could commence within the next three to four years once construction begins. He noted that the initiative was not originally captured in the Group’s Vision 2030 strategy, underscoring the company’s trajectory toward exceeding its long-term growth targets.
Chief Executive Officer of FirstBank Group, Olusegun Alebiosu, described the refinery as a symbol of vision, courage, and industrial ambition capable of inspiring similar investments across Africa.
“If you see this refinery and realise that an individual conceived and delivered a project of this magnitude, already helping to stabilise energy supply across Africa, you cannot help but be inspired,” Alebiosu said. “We have delegates here from the United Kingdom and several African countries who will return home with renewed commitment to building industries that can transform their economies. It is about building Africa together.”
Dangote also highlighted the Group’s sustained leadership across its core businesses over the past five years, including cement operations in 11 African countries, alongside significant investments in refining, petrochemicals, and fertiliser production. He noted that cement capacity has expanded to 55 million tonnes per annum, supported by the development of clinker export terminals to strengthen regional trade.
“We have built businesses that address Africa’s critical needs and create long-term value for the continent,” Dangote said. “Africa must stop exporting raw materials and importing finished goods. That amounts to exporting jobs and importing poverty.”
He added that investor appetite for the refinery’s listing on the Nigerian Exchange has remained exceptionally strong, with demand for the private placement already exceeding $2 billion.
“There is significant interest in both the IPO and the private placement,” he said. “While we are not able to meet all requests, the strong demand reflects investors’ confidence in the refinery and in Africa’s industrial future.”
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