Business
ONDO 2016: History beckons on APC Governorship Candidate, Senator Ajayi Boroffice
One of the missing factors in Nigeria’s political leadership equation, is the persisting lack of requisite experience and will on the part of the principal actors to serve the state instead of the self.Thus, we have been bedeviled by the dark-horse syndrome. The other is the internecine gambit for the plums and perquisites of office, characterized by intrigues, mischief making and sheer blackmail,sometimes using armed thugs to brow beat real and perceived political foes.Yet, a third and quite distasteful ingredient in the potpourri of power is the obscene display of ill-gotten wealth aimed at courting the voters’ favour and thereby swaying his choice, all for monetary gains. But for how long would this continue? That is the million-naira question.
Truth is, that where competent,committed,courageous and patriotic politicians emerge on the scene their path to accessing the pedestal of power is literally strewn with thistles and thorns.There is however, one concerned Nigerian well-heeled in the art and science of politics who is battle-ready to make the paradigm shift. He wants to be the exception rather than the rule. And he is none other than the two-time Senator Ajayi Boroffice, representing Akoko North Constituency,using the platform of the All Progressives Congress(APC). But he knows it is not going to be a walk in the park. As he highlighted in a recent media chat, it is sad to note that sometimes you need the money and the thugs He should know. All through his political career he has distanced himself from anything that has to do with violence or throwing money about all because he wants some fleeting political position.
As the Asiwaju of Akokoland; a dignifying position thrust upon him after the demise of Chief Rufus Giwa he has become a worthy role model to all. Indeed, he wants to be the exception rather than the rule of brigandage in politics. He did not condescend to the use of thugs or foul language when he contested and convincingly won the Senatorial seat on two occasions. Not even when he squared up against a formidable candidate such as Chief Bode Jumoke. And he is not going to do so currently.
Instead, he wants to make the difference-to leave a legacy of positively impacting on the sustainable quality of life of his people. This he has amply demonstrated by his several philanthropic gestures. Over the years, he has sponsored the sinking of bore holes in virtually all the towns and villages across the Senatorial District that he represents. In addition, he has engaged in youth and women empowerment for skills acquisition and self-reliance. To further this noble cause, he donated grinding machines, motorcycles, in addition to 100 cars and 200 tricycles to those who needed them most.
For someone much-respected for his loyalty to the party, Boroffice firmly believes in the principles of putting the larger picture above his selfish ambitions. His victory at the polls in 2011 was seen by some as riding on the popularity of Governor Mimiko, then on the platform of the Labour Party, LP. But his successes using the Action Congress of Nigeria, ACN and later the APC have shown that he is constantly faithful to any cause he believes in.
For instance,when in 2012 Barrister Akeredolu clinched the party’s ticket for the gubernatorial race, ahead of him he remained in the party. Even when some politicians such as the former Deputy Governor,Ola Olanusi, and others such as Olu Agunloye, Saka Lawal, Olaiya Oni as well as the Deputy Speaker of the House of Assembly left he stayed loyal and used his influence to win Akoko South-West added to Akoko North for the party. Such a rare form of unflinching loyalty he has also demonstrated when crisis reared its ugly head at the Senate.
Having stayed in the APC for the four years of its existence, combined with the ever-expanding political structures on ground and the aforementioned loyalty, Boroffice stands head and shoulders above the pack to clinch the coveted governorship of the APC.The other factor that stands him in good stead is his wealth of professional experience. This includes his untainted career,that has seen him as a professor of molecular biology at the premier University of Ibadan, subsequently as the Director/Science Coordinator at the Federal Ministry of Science and Technology and DG of NASDRA. Thus, all these have fully equipped him to have a holistic view and vision on how to transform Ondo from that of a purely civil service state,dependent on the hand out allocations from the Federation Account to becoming an industrial hub.
First, is the natural advantage of it being a coastal state; with the longest coastline amongst the West African countries.It has the second largest deposit of bitumen, next to Canada in the entire world and fifth largest deposit of crude oil as far as the Nigerian nation state is concerned.Other minerals found, all in commercial quantity include coal, kaolin, columbine, clay, tin, talc, quart sand, granite and limestone.
With him, investors would be interested to build state-of-the-art oil refineries. They will also assist to resuscitate ceramics factory in Okeluse and build a deep sea port at Okitipupa. This would serve as an alternative to the Lagos ports and a choice destination for importers and exporters, rather than Cotonou. With rubber, cashew and cola nut in abundance agriculture-related industries could spring up.With him in the saddle, the state could establish cocoa-based factories as the largest producer in the country. Thousands of indigenes will be employed. Lasting wealth would be created.The Internally Generated Revenue,IGR will jerk up, to put a permanent smile on the forlorn faces of the long-suffering workers currently owed months of salaries.
With the growing clamour for the diversification of the economic base from the mono-product of oil, it should be obvious that Ondo state needs an erudite, globally recognized scientist in the mold of Boroffice to turn its fortunes around. He is a man whose time has truly come. But will the good people of the Sunshine State heed the clarion call? The answer lies in the voters’ hands. They should remember that man’s destiny is guided by the choices he makes.
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.
Built for Salary Earners, Entrepreneurs and the Diaspora
The MREIF mortgage facility has been structured to be inclusive. It is available to salary account holders, business owners and diaspora customers. Whether you are a young professional aiming to exit the rent cycle, an entrepreneur building generational stability, or you’re a Nigerian abroad looking to secure assets locally, the product opens a pathway that has historically been out of reach for many.
Taking the First Step
For those who have been waiting for the right time, this is definitely it. The question is no longer whether homeownership is possible. The real question is: will you act before the window narrows?
Visit https://www.firstbanknigeria.com/personal/loans/mreif-home-loan/ and in no time you could be the latest homeowner in town.
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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