Tension Rises as LASIEC Delays Release of Candidate List Ahead of LG Polls

With just days to the Lagos State local government elections scheduled for Saturday, July 12, 2025, tension is building as the Lagos State Independent Electoral Commission (LASIEC) has yet to release the official list of candidates. The delay has stirred widespread unease among candidates, political parties, and observers, raising questions about the transparency and credibility of the entire process.

Under the Nigerian Electoral Act and LASIEC’s own guidelines, candidate lists must be published well ahead of polling day to allow the public adequate time to assess their choices. The commission’s continued silence, however, is heightening suspicion and eroding trust across party lines.

When our correspondent visited LASIEC headquarters in Yaba earlier today, the premises bore a tense atmosphere, reinforced by a heavy police presence and barricades, giving the area a near-siege-like appearance.

A member of the All Progressives Congress (APC) in Epe, who requested anonymity, expressed frustration over the delay. “It’s worrisome and alarming that with just three days left, LASIEC has not published the list of contesting candidates. We are demanding answers. Their silence is simply unacceptable.”

There is growing speculation that LASIEC may be playing partisan politics by stalling the announcement of opposition candidates. However, even within the ruling APC, there is a lack of clarity. In Mushin, Shomolu, Onigbongbo, Agege, Alimosho Local Government and Local Council Development Areas, members remain uncertain about who their candidate is. While some suspect attempts to impose some candidates, nothing has been confirmed by the commission.

“If anyone says LASIEC is only screening APC candidates, that’s not accurate,” some APC members in Epe, Shomolu, Onigbongbo, Mushin, Ikosi-Isheri stated. “Even we don’t know who is running. There are rumors of internal interference, but without the official list, we’re left completely in the dark.”

The confusion appears to extend beyond the APC. A People’s Democratic Party (PDP) member in Apapa LGA, also speaking under condition of anonymity, alleged that internal disputes and external influences have complicated the selection process.

“There’s been a power struggle within the party over which candidates to field,” he said. “We heard the list was taken to an APC chieftain in Abuja for ratification. When it came back to Lagos, several names had been altered. This disruption has delayed LASIEC’s ability to finalize and release the list. The situation is chaotic, and many of our members feel betrayed.”

According to him, the changes were made without the consent of key party leaders, and many candidates—including some closely aligned with influential figures—were affected. “We are prepared for whatever happens. Saturday will reveal everything,” he concluded.

Some political analysts suggest LASIEC’s delay may be a strategic move to limit the window for legal action that could challenge the candidates or the process itself.

As election day draws near, the pressure is mounting on LASIEC to come clean and restore public confidence in the electoral system. For now, uncertainty reigns—and the credibility of the July 12 polls hangs in the balance.

UNION BANK RESPONDS TO HIGH COURT RULING ON NICON INVESTMENTS
LIMITED, GLOBAL FLEET AND JIMOH IBRAHIM CASE

Union Bank of Nigeria acknowledges the recent judgment of Justice Abike Fadipe of the Ikeja High Court in the matter involving Senator Jimoh Ibrahim, NICON Investment Limited, Global Fleet, and the Bank.

We wish to assure our customers, partners, and the public that Union Bank operates with the highest levels of professionalism, ethical conduct, and legal compliance in all our dealings.

While we respect the authority of the court, we strongly disagree with the judgment delivered and have instructed our lawyers to file an appeal against it immediately.

The court’s findings, including its position on the consolidation of indebtedness, locus standi, and third-party liability, are at variance with established legal principles and the Bank’s
understanding of the facts. We are confident in our legal position and intend to vigorously pursue all lawful avenues to ensure that justice is served.

Union Bank had previously transferred the relevant debt obligations to the Asset Management Corporation of Nigeria (AMCON), and we maintain that all actions taken in this regard were in line with applicable laws and banking practice.

We reiterate our unwavering commitment to acting in good faith, protecting stakeholder
interests, and preserving the integrity that has defined our institution for over a century. The Bank remains resilient and focused on continuing to deliver excellent service and value to its customers.

We appreciate the continued trust and support of all stakeholders as we navigate this legal process.

*Energy watchdog hails NUPRC’s N12.25tn revenue performance, credits Komolafe’s reforms

The Energy Governance Alliance (EGA) has commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for generating a record N12.25 trillion in revenue in 2024, describing it as a testament to the commission’s regulatory reforms and strategic leadership under Chief Executive, Gbenga Komolafe.

In a statement issued on Tuesday and signed by its Executive Director, Dr Kelvin Sotonye William, the alliance said the revenue achievement marked a watershed moment in Nigeria’s oil and gas sector, affirming NUPRC’s central role in repositioning the upstream industry for value creation, fiscal accountability and national development.

The figure, disclosed in the commission’s newly released 2024 Annual Report, represents a 182.25 percent increase from the N4.34 trillion generated in 2023. It also significantly surpassed the 2024 forecast revenue of N6.93 trillion by over N5 trillion.

“The Energy Governance Alliance welcomes the stellar performance of the NUPRC, under the visionary stewardship of Mr Gbenga Komolafe, for generating over N12 trillion in 2024 — the highest ever recorded in a single year in Nigeria’s upstream sector,” the statement reads.

“This performance is not accidental. It reflects sustained policy clarity, increased compliance, and a bold enforcement posture on critical issues such as royalty payments, gas flare penalties and lease renewals. These are the very foundations of energy justice, and we applaud the Commission for restoring regulatory credibility in a sector long plagued by opacity and inefficiency.”

EGA said the unprecedented revenue inflow has “revalidated the Petroleum Industry Act (PIA) 2021 as a working framework for revenue optimisation, investor discipline and upstream transparency”, adding that the Komolafe-led NUPRC had broken new ground in actualising the fiscal and institutional aspirations of the landmark law.

According to the commission’s breakdown, oil and gas royalties alone accounted for N11.08 trillion in 2024 — nearly twice the projected figure — while gas flared penalties brought in N391.26 billion, and concession rentals fetched N23.71 billion. Other key revenue lines included N369.57 billion from signature bonuses, N230.73 billion from lease renewals, N35.19 billion in miscellaneous income, and N117.02 billion from goods and valuable consideration.

Reacting to the figures, Dr William said the scale and spread of the revenue performance demonstrated a “whole-of-sector approach” that has closed long-standing loopholes and challenged entrenched rent-seeking behaviour.

“For the first time in recent memory, we are seeing a regulator extract value from multiple pressure points across the upstream system — from flare penalties to lease administration. This is what it means to govern oil in the public interest,” he said.

EGA urged other agencies in the oil and gas ecosystem to emulate NUPRC’s results-oriented culture, noting that the commission’s transparency in publishing unreconciled production volumes, average daily outputs, and compliance with the technical allowable rate (TAR) regime was “a welcome deviation from the era of secrecy”.

The report had revealed that total crude production in 2024 stood at 578.5 million barrels — comprising 482.8 million barrels of oil and 95.7 million barrels of condensate — with a daily average output of 1.58 million barrels per day. Joint ventures contributed 48 percent of the production, followed by production sharing contracts at 35 percent, sole risk operations at 13 percent, and marginal fields at 4 percent.

The alliance also welcomed NUPRC’s disclosures on the TAR, which stood at 67 percent in 2024, and urged further collaboration with industry players to raise efficiency levels.

“This is not just about revenue. It’s also about regulatory honesty. By publishing unreconciled volumes and clarifying that they are not to be mistaken for export figures, NUPRC has sent a strong message that it is no longer business as usual. This level of transparency is key to improving investor confidence and public trust,” William said.

EGA said it was particularly impressed with the commission’s performance in gas flare penalties and lease renewals, which surpassed their 2024 projections by over 200 percent, indicating renewed rigour in enforcement.

It noted that N391 billion was realised from gas flaring penalties, compared to a projected N126 billion, while lease renewals brought in N230.73 billion, almost three times the forecasted N80.63 billion.

“Gas flaring is an ecological crime and an economic waste. The fact that penalties have become a major revenue item shows the Commission’s zero-tolerance stance. We expect this to further push operators towards cleaner and more responsible energy production,” the alliance added.

The alliance urged the Federal Government to channel a significant portion of the NUPRC’s revenue surplus into supporting host communities, funding clean energy transitions and closing infrastructure gaps in the Niger Delta.

“Komolafe’s performance shows that Nigeria’s oil sector can deliver both revenue and reform — if we prioritise competence, clarity and courage. The Energy Governance Alliance urges President Bola Ahmed Tinubu to continue backing such reforms and ensure that the NUPRC remains insulated from political interference,” the statement concluded.