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Senators attack Acting President, Yemi Osinbajo over appointment of Ibrahim Magu
The Senate on Tuesday called out Nigeria’s Acting President Yemi Osinbajo to a constitutional fight over Ibrahim Magu, the acting chairman of the Economic and Financial Crimes Commission.
The Senators unanimously resolved today to suspend all confirmation requests from the executive until decisions of the legislature are respected by Acting President Yemi Osinbajo.
One of the decisions was the non-confirmation of Magu twice by the senate. Senators now wanted Magu sacked immediately.
In a four-prayer motion unanimously adopted by the lawmakers, the Senate frowned at a statement credited to the Acting President Prof. Yemi Osinbajo that the Senate had no power to confirm the chairman of the EFCC.
The decision of the Senate arose from a motion raised by Senator Ahmed Sani following a letter requesting the confirmation of Mr Lanre Gbajabiamila as Director General of the National Lottery Commission.
With particular reference to the rejection of the Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, the Senate insisted that the Executive must respect the constitution of the Federal Republic of Nigeria or go to court to seek a redress.
The upper legislative chamber stressed that it was an illegality for Magu to still be parading himself of the chairman of the Commission after being rejected by the body constitutionally empowered to approve or reject his appointment.
The Acting President Prof. Yemi Osinbajo was credited as saying that the Senate does not have power to reject the appointment of Magu as Chairman of EFCC.
The Senate therefore frowned at the comment credited to the acting president and approved the following prayers:
“That the Senate suspends all issues relating to confirmation of nominees from the executive until all issues of confirmation as contained in the constitution and laws of the Federation are adhered to.
“The Acting President must respect the constitution and laws as it relates to confirmation of appointments.
“The Acting President should immediately respect rejection of nominees by the senate yes.
“The Acting President should withdraw the statement credited to him that the Senate does not have the power to confirm certain nominees,” the Senate approved.
This is the second time the senate is taking a resolution against the executive for its refusal to adhere to the rejection of Magu and the Chairman of the EFCC.
In March, the Senate suspended the confirmation of INEC Resident Electoral Commissioners to protest the refusal of the executive to implement the legislature’s rejection of Magu as EFCC boss.
The President of the Senate Bukola Saraki who commended Sen. Sani for the motion stressed that the Senate could not continue to make laws and resolutions that would be flagrantly disobeyed.
He urged the Acting President to take appropriate actions on all resolutions and laws of the Senate.
“Distinguished colleagues, let me thank Senator Yerima for coming under Privileges. I think this matter is a very important matter but I think we need to address it once and for all and put it behind us.
“As a society, we can’t pass laws and see these laws not being obeyed. It is very clear these resolutions as passed must be acted upon by the Acting President and ensure that we continue to respect our democracy, our laws and constitution.
“It is not for us to choose which laws we obey and which laws we don’t obey. That is not the way any civilised, modern society works.
“We hope that the Acting President will take appropriate action in line with these resolutions,” he said.
While contributing to the motion, Deputy President of the Senate Ike Ekweremadu said that the constitutional provision upon which Osinbajo made his comment only applied to personal staff of the President.
Ekweremadu therefore stressed that the Senate is adequately empowered by law to confirm or reject any appointment by the President.
Sen. George Thomson Sekibo said that it appeared like there was a calculated action to quieten the National Assembly.
He however stressed that there was a clear constitutional provision that empowered the Senate to confirm all appointees of the President.
“If the Acting President says we do not have power to return any nomination I wonder if he is in touch with the EFCC Act: The EFCC Act states that the President shall nominate and Senate will confirm.
“If you reject one law, you have will reject the constitution. The Constitution did not give room for acting appointment after a nominee has been rejected by the Senate.
“If the Acting President says we do not have the power to confirm and then turns around to send us a nomination, which one do we now take?
“I think Senate should put a suspension on this nomination until this issue is resolved so that we know if we have the power to confirm or not,” he said.
For Sen. Isah Hamman Misau, sending a candidate to the senate for confirmation amounted to double standards by the Acting President Osinbajo.
He said that the senate must stand and face the challenges against the institution.
“If the executive was not ready for democracy then they should tell us and propose another system of government,” he said.
Senator Sam Anyanwu in his view said that the Senate should not even be accepting nomination letters from the executive, let alone considering them on the floor of the Senate.
He said that the comment of the Acting President had given impetus for more comments, adding that a report this morning was calling for the senate to be scrapped.
“We must try to stand our ground. If the leadership doesn’t do anything about this matter within 48 hours, we would move against this leadership,” he said.
Senator Dino Melaye, who is currently facing threat of recall, also added that the senate must not accept the comment of Prof. Osinbajo.
Melaye said that the National Assembly which is a mark of democracy, must not be allowed to be destroyed.
“It is time for the Senate to tell the executive arm of government that it must stop approbating and reprobating.
“Magu came for a job interview and failed and he was rejected. As we speak, Magu is still parading himself as the chairman of EFCC.
“The integrity of the Senate is at stake. This senate cannot be disregarded and insulted: our authority to confirm cannot be eroded.
“I am moving a motion that it becomes abominable to read any other confirmation report in this chamber until they act on our position.
“Those who have failed should go back. Magu is not the last Nigerian Angel. He can serve this country in another capacity,” Melaye said.
Senator Olusola Adeyeye, the Chief Whip of the Senate reminded the executive that the difference between Military rule and Democracy was the existence of the legislature.
“Whether you serve in the executive, legislature or judiciary, everyone is called to obey the laws of the republic.
“If there is any law passed by NASS, signed by the President and gazetted, no one has the permission to dance around that law.
“Whoever has a problem with any law should go to court. Until a court declares it null and void, it remains the law of the land. Anyone who does not respect it is breaking the law of the land.
“I want to say here that I voted yes for Magu, but this is not about my view. The Senate of the Federal Republic of Nigeria voted no and I stand with the Senate.
FirstBank Makes Home Ownership Possible for Nigerians with Single-Digit Interest Rate Loan
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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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