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The cost of goods and services across Nigeria is expected to rise further following a fresh increase in petrol prices after the Dangote Petroleum Refinery raised the gantry price of Premium Motor Spirit to N1,175 per litre, marking the third upward adjustment within a week.

The refinery announced the price hike to marketers on Monday, raising the gantry price of Premium Motor Spirit to N1,175 per litre from N995 per litre announced on Friday, representing an increase of N180 or about 18.1 per cent within three days.

It also revised the gantry price of Automotive Gas Oil, commonly known as diesel, to N1,620 per litre.

A senior official of the refinery, who spoke on condition of anonymity because he was not authorised to comment publicly, confirmed the adjustment to our correspondent, stating that the revision had already been communicated to marketers and depot operators.

“Yes, the gantry prices have been adjusted. PMS is now N1,175 per litre while Automotive Gas Oil is N1,620 per litre,” the official said.

“The market has been extremely volatile, and replacement costs have shifted significantly in recent days. These adjustments reflect prevailing market fundamentals and the cost environment we are currently operating in.”

Checks by our correspondent on the industry pricing platform, petroleumprice.ng showed that the revised rates had already been updated across petroleum depot pricing systems, indicating a shift in the benchmark price used by downstream marketers.

The new price is the third surge in petrol prices within a week, following adjustments that pushed gantry prices from N774 to N995 per litre. As a result, retail pump prices in several states now exceed N1,000 per litre, as some stations now dispense petrol at about N1,200/litre, intensifying economic pressures on Nigerians.

The latest hike is expected to trigger another round of increases at filling stations nationwide, as higher fuel costs typically translate into higher transportation, logistics, and production costs for businesses.

It also betrays efforts by the Federal Government, through the Nigerian National Petroleum Company Limited, to secure crude oil supply for the Dangote Petroleum Refinery through third-party international traders, in a bid to sustain domestic refining operations.

Officials, however, warned that the intervention may not immediately translate into lower petrol prices for consumers. Nigerians currently grapple with high fuel prices, following the recent hikes in the cost of the commodities by the $20bn Lekki-based refinery.

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Students and teachers of a school in the Ogba area of Lagos narrowly escaped death on Monday after a four-storey building housing the institution collapsed minutes after they evacuated the structure.

The structure, which accommodated Yemco Nursery, Primary and Comprehensive College, gave way around midday at 11 Adudatu street, behind County Hospital in the Aguda axis of Ogba.

Witnesses said the building came down barely minutes after students and teachers were hurried out of the premises, preventing what residents described as a likely tragedy.

A resident who spoke with TheCable said concerns had been raised earlier when wooden planks reportedly fell from the roof, prompting alarm among people in the neighbourhood.

“The students narrowly escaped the incident. It was just about three minutes after they were evacuated from the building that the structure collapsed,” the resident said, adding that the structure had not shown obvious signs that it was about to give way.

According to the witness, an elderly man in the area alerted the school authorities that the building might be unsafe, prompting the quick evacuation of the occupants.

Taiwo Ridwan, another resident, said the building showed signs of distress shortly before the collapse.

“At first, the house started cracking little by little. The window frames had already fallen apart. After some minutes, the cement body of the house began peeling off. Not long after that, the building just sank,” Ridwan said.

Officials of the Lagos State Fire and Rescue Service later secured the scene and restricted access to the area.

Part of the property used for residential purposes remained standing beside the collapsed structure.

No casualties had been reported as of the time of this report. The Lagos State Fire and Rescue Service was yet to issue an official statement on the incident.

Attempts to obtain an official reaction from Margaret Adeseye, the service’s director of public affairs, were unsuccessful.


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The Joint Admissions and Matriculation Board has remitted a total of N1,570,671,200 to Computer-Based Test centres that participated in the 2026 Unified Tertiary Matriculation Examination registration exercise.

The disclosure was contained in a bulletin released by the Board and signed by its Public Communication Advisor, Fabian Benjamin.

JAMB said the payment represents the N700 registration fee collected on behalf of CBT centres from candidates during the UTME registration process.

It explained that it collects the N700 registration fee together with the ePIN registration charge and remits the total directly to accredited CBT centres on a weekly basis.

“In line with this arrangement, the Board has remitted a total sum of₦1,570,671,200 to the CBT centres that participated in the 2026 Unified Tertiary Matriculation Examination (UTME) registration exercise,

“This initiative has significantly curtailed abuses and the exploitation of candidates through the imposition of unauthorized charges. It has also entrenched a cashless registration process at the centres, many of which are privately owned,” the board said.

Under this arrangement, candidates who purchase the UTME ePIN are not required to make separate payments at CBT centres and can register at any accredited centre of their choice.

JAMB said the initiative has reduced unauthorised charges and strengthened the adoption of cashless registration, particularly among privately owned CBT facilities.

To further ensure compliance, JAMB reinstated that it introduced the “No View, No Pay” policy, under which payments are made to CBT centres only after verification that the candidates they registered are valid and visible in the Board’s registration system.

“The policy is designed to curb registration infractions and ensure transparency in the process,” the Board added.

The 2026 UTME registration closed on February 28 and the examination is scheduled to hold nationwide from April 16 to April 25.

Direct entry programme registration started on March 2 and will end by Saturday, April 25, 2026.


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The Court of Appeal has upheld the conviction and sentencing of former Group Managing Director of Nigerian Army Properties Limited (NAPL), Maj.-Gen. Umar Mohammed, for stealing and misappropriating funds belonging to the company.

In the Certified True Copy (CTC) of the judgment, the appellate court dismissed Mohammed’s appeal challenging the jurisdiction of the Special Court Martial (Nigerian Army) and the validity of its verdict.

The former senior officer was earlier tried and convicted by the court martial on Oct. 10, 2023, for offences bordering on stealing and criminal misappropriation of funds belonging to Nigerian Army Properties Limited.

Following the conviction, Mohammed was dismissed from the Nigerian Army, sentenced to imprisonment and ordered to refund 2,099,700 dollars and N1.65 billion to the company.

Dissatisfied with the ruling, he approached the appellate court on Feb. 12, 2025, in suit No. CA/ABJ/CR/383/2025, arguing that his conviction was not supported by sufficient and credible evidence.

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However, the three-member panel of justices, Abba Mohammed, Okon Abang and Eberechi Nyesom-Wike, dismissed the appeal, ruling that the evidence presented during the court martial clearly established the offences.

According to the certified judgment issued on Monday, the court held that the Special Court Martial was right to reject the former general’s defence, describing it as inconsistent and unreliable.

The court noted contradictions in Mohammed’s testimony, particularly his claim that Nigerian Army Properties Limited never operated berthing services, which contradicted documentary records authored by him indicating otherwise.

The justices ruled that the inconsistencies undermined his credibility.

The appellate court consequently affirmed the conviction and sentence imposed by the Special Court Martial on all counts except those relating to forgery.

NAN reports that in August 2025, Justice Dehinde Dipeolu of the Federal High Court in Lagos State also ordered the final forfeiture of shares worth over N5 billion traced to  Mohammed, and a businessman, Kayode Filani.

The order followed an application by the Economic and Financial Crimes Commission (EFCC), which told the court that the 245,568,137 shares were purchased with proceeds of unlawful activities carried out during Mohammed’s tenure as head of the army’s property company.

EFCC counsel in the matter, Hanatu Kofanaisa, explained that a Special Court Martial had already convicted Mohammed on 14 out of 18 counts of stealing and related offences.

She added the commission had met all legal requirements for final forfeiture, including the mandatory newspaper publication, without any objection being filed.

In granting the application, Justice Dipeolu held that the EFCC had proved its case and ordered the shares permanently forfeited to the Federal Government, in favour of the Nigerian Army Properties Limited.

The application was brought under Section 44(2)(b) of the 1999 Constitution and Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.(NAN)


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Global crude oil price, on Monday, crossed the $100 per barrel mark, signalling the highest surge since July 2022.

Brent crude rose by 16 percent to $107.56, from a surge of $91 a barrel recorded on Friday.

Similarly, the US West Texas Intermediate increased by 13.96 percent to 103.59 percent.

The development comes as traffic through the Strait of Hormuz remains grounded due to the Middle East conflict, unleashing the most severe energy crisis since the 1970s and threatening the global economy.

There are also speculations that the global oil benchmark price could hit $120 today.

Hormuz — a narrow maritime passage connecting the Persian Gulf to the Gulf of Oman and the Arabian Sea — is said to be the only sea route linking the Gulf’s oil and gas producers to global markets, making it one of the most strategically important waterways in the world.

According to the Wall Street Journal, the disruption has led to higher petrol and diesel prices at the pump, as well as increased mortgage rates and borrowing costs for the US government.

“One week into President Trump’s war on Iran, the most severe shock to energy markets since the 1970s is cascading through the world economy,” the report reads.

“The disruption quickly fed into higher gasoline and diesel prices at the pump, and higher mortgage rates and borrowing costs for the U.S. government, endangering Trump’s economic priorities.

“To be sure, the U.S. has more shock absorbers this time around. Oil is a far smaller component of gross domestic product than it once was, and the U.S. has become a top energy exporter in its own right.”

Chris Wright, US energy secretary, had said “energy will flow soon” through the Strait of Hormuz.

He blamed the rise in prices on “the unknown that this could be some long… drawn-out crisis. But it won’t be”.

However, the report said the impact will continue to be felt, particularly in Europe and Asia.

“For decades, the U.S. military and its allies have spent billions of dollars ensuring the Strait of Hormuz stays open,” the publication said.

“Just 21 miles across at its narrowest stretch, and flanked to the northeast by a sworn enemy of the West, the channel between Oman and Iran is a superhighway for about a fifth of global supplies of oil and liquefied natural gas.

“Massive amounts of fertilizer sail through these waters, feeding crops on every continent.”

According to the report, the few ships that have departed the strait since the start of the war were largely transporting Iranian oil.

“Traders say crude markets could soar even higher if the strait doesn’t open within days, either with U.S. naval escorts or because shipowners think the danger has receded,” the publication said.

The WSJ report also said the strait’s closure is spilling through commodity markets, adding that aluminum prices reached multiyear highs after smelters in the Middle East declared force majeure — a legal provision that frees suppliers from liability if they cannot deliver.

The ripple effect of the US-Iran war has trickled down to Nigeria as filling stations begin a gradual increase in petrol pump price.


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A section of the Office of the Head of Service of the Federation building in Abuja has gone up in flames.

Eyewitnesses report that the fire was first noticed in one part of the structure at approximately 8:20 a.m., with smoke billowing from the affected area.

The incident was said to have occurred at Section C of the head of service building, within the Head of Service complex, as staffers in the building were seen moving away from the affected area while emergency responders were alerted to contain the situation.

The media department of the Office of the Head of Service of the Federation confirmed the incident, stating that the fire outbreak was limited to Section C of the building and was currently being attended to by emergency officials.

The exact cause of the fire has yet to be ascertained, as an investigation into the cause of the fire is expected to commence after the situation is fully brought under control.


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 A member of the National Working Committee of the All-Progressives Congress, (APC) Tolu Bankole, has said Nigeria’s opposition parties are facing deep internal crises and are unprepared for the 2027 general elections.

Bankole, in a press statement issued on Monday in Abuja, said the ruling party remains confident of victory in 2027, citing what he described as the achievements of President Bola Ahmed Tinubuunder the administration’s Renewed Hope agenda.

According to him, the opposition has failed to present credible policy alternatives to Nigerians and is currently weakened by internal divisions.

“The facts are undeniable and the evidence overwhelming: the opposition is not just struggling, it is in complete disarray and facing an existential crisis,” Bankole said.

He noted that since assuming office after the 2023 Nigerian presidential election, Tinubu has implemented key economic reforms, infrastructure projects, and security interventions aimed at stabilising the country and improving the welfare of citizens.

Bankole added that the administration’s policies were already yielding measurable results in critical sectors, including agriculture, infrastructure development, and investment inflows.

He also dismissed criticism from opposition parties, describing it as politically motivated and lacking in substance.


According to him, the APC remains united and focused on consolidating the gains of the current administration ahead of the next general elections.

“The APC is not merely preparing for 2027; we are moving toward it with confidence and momentum built on performance and results,” he said.

The APC chieftain called on Nigerians across political, religious and regional lines to support the government’s development agenda and safeguard the country’s democracy.

He urged citizens to rally behind the Renewed Hope programme of the Tinubu administration, saying it represents a pathway to sustained national development.

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Debt servicing in Nigeria outpaced capital expenditure by N3.9tn over the past two years, highlighting growing fiscal pressures on the federal budget, according to a media brief from the Federal Ministry of Finance.

The brief also showed that the Federal Government spent N27.2tn servicing public debt between 2024 and 2025.

The document by the Special Adviser to the Minister of Finance and Coordinating Minister of the Economy on Media and Communications, Dr Ogho Okiti, explained that the rise in debt servicing costs over the two-year period was largely driven by macroeconomic adjustments, particularly the depreciation of the naira and higher domestic interest rates.

Data contained in the brief showed that the Federal Government spent N12.63tn on debt servicing in 2024, significantly above the N8.56tn provided in the budget for the year. In 2025, debt service payments rose further to N14.57tn, exceeding the N13.12tn budgeted for the year.

Combined, the figures indicate that the Federal Government spent about N27.2tn on debt obligations within the two-year period, reflecting the growing fiscal pressure from rising interest costs and exchange rate adjustments.

A year-on-year comparison showed that debt servicing increased by N1.94tn between 2024 and 2025, representing a 15.4 per cent increase. The data also revealed that the actual spending on debt servicing exceeded budget projections in both years.

In 2024, debt servicing overshot the budget by about N4.07tn, as actual payments rose to N12.63tn compared with the N8.56tn initially approved.

The overshoot moderated in 2025 but remained significant, with actual spending of N14.57tn exceeding the N13.12tn budget by N1.45tn.

Overall, debt servicing exceeded budget projections by about N5.52tn across the two years. According to the brief, the increase in debt servicing was largely driven by macroeconomic factors rather than new borrowing.

The document explained that exchange rate movements significantly increased the naira value of external debt obligations.

It stated, “External debt is denominated in foreign currency. When the naira depreciates, the naira cost of servicing the same dollar debt rises automatically. This is a valuation effect and not evidence of new borrowing.”

The brief also linked the rise in debt servicing costs to higher domestic interest rates following tighter monetary policy aimed at stabilising inflation and the exchange rate. It noted that interest rates rose as the Central Bank of Nigeria tightened monetary policy, which in turn increased the cost of servicing domestic debt instruments.

An analysis of Federal Government finances also showed that debt servicing absorbed a large portion of government revenue during the period under review. According to the document, the Federal Government’s aggregate revenue rose from N12.48tn in 2023 to N20.98tn in 2024, reflecting improved tax administration, stronger remittance discipline, and growth in non-oil revenue sources.

With debt servicing reaching N12.63tn in 2024, the government spent about 60 per cent of its revenue on debt obligations that year. By November 2025, Federal Government revenue had reached N22tn, while debt service payments stood at N14.57tn, indicating that about two-thirds of revenue was used to service debt.

This shows that the debt service-to-revenue ratio rose from about 60 per cent in 2024 to roughly 66 per cent by November 2025.

Despite the pressure from debt servicing, the government maintained relatively high capital spending during the period. Total capital expenditure stood at N11.59tn in 2024, with a performance rate of 84 per cent, while N11.7tn had been spent on capital projects as of November 2025, representing 76 per cent performance.

The data showed that in 2024, the N12.63tn spent on debt servicing exceeded capital expenditure by about N1.04tn. In 2025, the gap widened further, as debt servicing of N14.57tn exceeded capital spending of N11.7tn by about N2.87tn.

Across the two years, debt servicing exceeded capital expenditure by about N3.91tn. The ministry noted that the perception that capital projects were not being implemented was inaccurate, explaining that federal capital spending consists of both direct budget releases to ministries, departments and agencies and project-tied loans from development partners.

It explained that multilateral and project-tied loans are disbursed directly by development partners and are tied to specific infrastructure and social projects. “These projects proceed even when MDA cash releases are limited,” the document stated.

The brief also highlighted broader fiscal reforms undertaken by the Federal Government since 2023, particularly the decision to halt what it described as the illegal and excessive use of Ways and Means advances from the Central Bank of Nigeria.

According to the ministry, these overdrafts had accumulated to about N30tn and were previously not transparently reflected in the fiscal deficit framework. The document explained that the advances had now been securitised and formally recognised within the public debt framework, improving transparency in public finance reporting.

It stated that deficits are now financed through structured borrowing instruments subject to legislative oversight rather than monetary financing. The brief noted that the transition has tightened fiscal space in the short term but is intended to restore macroeconomic credibility and strengthen long-term fiscal sustainability.

The ministry also addressed concerns about Nigeria’s rising public debt stock, explaining that a significant portion of the increase in nominal debt figures reflects accounting adjustments and exchange rate movements rather than fresh borrowing.

It stated that about N30tn in Ways and Means advances had now been formally recognised within the debt framework, while exchange rate adjustments significantly increased the naira value of external debt. According to the document, about N70tn of the nominal increase in public debt is attributable to exchange rate valuation effects.

The ministry maintained that debt sustainability should be assessed using indicators such as the debt-to-GDP ratio, debt service-to-revenue ratio, fiscal deficit trajectory, and revenue growth trends, rather than focusing solely on the nominal size of public debt.

The brief also highlighted the impact of oil revenue shortfalls on the Federal Government’s finances. In 2025, projected oil and gas federation revenue was N37.4tn, but actual inflows amounted to about N7tn, representing 19 per cent performance.

According to the document, if the projections had been realised, the Federal Government would have received roughly N15tn more in revenue. It noted that oil revenues have a higher proportional allocation to the Federal Government compared with other revenue sources, meaning shortfalls affect the Federal Government more significantly than states and local governments.

The ministry concluded that Nigeria’s fiscal pressures reflect a transition from what it described as hidden deficits and monetary financing to a framework based on transparency and market-based financing. “The administration has chosen long-term sustainability over short-term illusion,” the document stated.

The Programme Manager of the Sustainable Nigeria Programme at Heinrich Böll Stiftung, Mr Ikenna Ofoegbu, warned about the high cost of borrowing in the economy. According to him, revenue is being swallowed by debt payments.

“Our debt servicing is about 60 per cent to 70 per cent. It has come down from about 80 per cent to 90 per cent. So now we’re about 60 per cent to 70 per cent,” he said.

He criticised the lack of transparency. “Unfortunately, we’re not dealing with the kind of leaders that we can trust, whatever they say or their intentions. We cannot trust the system. We cannot trust our politicians,” he said. “I don’t know the last time we saw all these reports publicly.”

Ofoegbu added that capital spending was unclear. “Many of us may not know, but there’s no capital budget to begin with. I think the only person that seems to be working in my own eye view is Wike,” he said.

The Executive Director of Centre for Inclusive Social Development, Mr Folahan Johnson, said the human impact of debt should not be ignored. “The true cost of debts is the out-of-school child, the out-of-school girl,” he said. “The true cost of debts is that a woman who has to do business loses her life because of lack of access to basic maternal health care.”

In its Review of the Nigerian Economy in 2025 and Outlook for 2026, the Centre for the Promotion of Private Enterprise flagged the projected N15tn debt service bill for the 2026 financial year, saying that it would affect the growth anticipated for the year.

Nigeria’s rising debt-service bill is set to remain a major constraint on fiscal performance, its Chief Executive Officer, Dr Muda Yusuf, said in the review.

“Debt service, estimated at over N15tn in the 2026 appropriation (about 50 per cent of projected revenue), continues to constrain fiscal space,” said Yusuf, noting that the situation limits the government’s capacity to fund capital expenditure and deliver growth-enhancing projects.

In a recent analysis, Meristem Securities noted, “Public debt is expected to rise further, driven by higher domestic borrowings and increased external commitments, particularly given the wider 2026 budget deficit of N23.85tn (compared to N14.10tn in 2025). Debt service growth may moderate as stop rates trend lower following the February MPR cut.

“The DMO is also expected to leverage favourable external rates and improved investor confidence, while sustained exchange rate stability should help contain near-term external debt servicing pressures.”

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The head of the Catholic Church, Pope Leo XIV, on Sunday expressed deep concern over the escalating conflict involving Iran, warning that the violence could spread further across the Middle East and urging an immediate halt to hostilities.

Speaking during the traditional Angelus prayer at St. Peter’s Square, the pontiff said disturbing reports continued to emerge from Iran and the wider region as fighting entered its ninth day following the United States–Israeli assault on Iranian targets.

The Pope cautioned that the ongoing conflict was fuelling fear and hatred and risked drawing in more countries, including Lebanon, which he said could once again face instability, Reuters reported.

“Alongside the episodes of violence and devastation and the widespread climate of hatred and fear, there is also growing concern that the conflict could spread and that other countries in the region, including dear Lebanon, could once again sink into instability,” Leo said.

He called for urgent efforts to end the violence and open channels for peaceful dialogue.

“Let us raise our humble prayer to the Lord that the roar of bombs may cease, that weapons may fall silent, and that space may be opened for dialogue in which the voices of peoples can be heard,” the pope added.

The remarks come amid intensifying international concern over the military campaign by the United States and Israel against Iran.

Earlier in the week, the Vatican’s top diplomat also criticised the strikes, warning that such actions undermined international law.

The conflict between Israel and Iran reflects decades of tension rooted in ideological, geopolitical and security disagreements.

After the 1979 Iranian Revolution, Tehran shifted from a cooperative relationship with Israel to one defined by hostility.

The Islamic Republic’s leaders have frequently condemned Israel’s existence and supported armed groups opposed to it, including Hezbollah in Lebanon and Hamas in Gaza.

Israel, for its part, views Iran’s nuclear ambitions and regional influence as existential threats and has taken military, covert and cyber measures to counter them.

The recent conflict escalated when Israel and the United States conducted coordinated airstrikes against Iranian military and government targets, including the killing of Iran’s Supreme Leader, a move that plunged the region into a broader conflict.

Iran retaliated with missile and drone strikes against Israeli targets and US bases, while clashes have spread to neighbouring states and drawn in allied groups.

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Adamawa State Governor, Ahmadu Fintiri, has imposed a 24-hour curfew on Lamurde Local Government Area following renewed communal violence in parts of the area.

The curfew was announced in a statement issued on Sunday night by the governor’s Chief Press Secretary, Humeashi Wonosikou.

“The government views these disturbances as unacceptable and has directed security agencies to enforce the curfew strictly.

“The curfew is effective immediately and will remain in place until further notice. Governor Fintiri has also directed security agencies to enforce the curfew and maintain law and order in the area,” the statement read.

Residents were urged to comply with the directive and provide useful information to security agencies to help restore peace.

Fintiri also reiterated the government’s commitment to protecting lives and property, noting that acts of violence would not be tolerated.

The development comes amid renewed clashes between members of the Chobo and Bachama communities in Lamurde.

Recall that at least two persons were killed before the curfew was announced on Sunday night.

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Minister of the Federal Capital Territory (FCT), Nyesom Wike, has approved the confirmation of appointment of 1,659 workers employed by the Federal Capital Territory Administration (FCTA) in 2016 and 2019.

Chairman of the FCT Civil Service Commission, Emeka Ezeh, disclosed this in a statement signed by the Senior Special Assistant to the Minister on Public Communications and Social Media, Mr Lere Olayinka, in Abuja on Sunday.

Ezeh said that the 1,659 confirmed workers were among the 2,281 who sat for the confirmation examination conducted by the FCT Civil Service Commission on Feb. 28.

He explained that some of the workers who sat for the confirmation examination were employed as far back as 2016 and 2019.

According to him, 2,512 candidates were invited for the confirmation examination, but only 2,281 turned up.

“A total of 224 officers were absent, fueling suspicion that they could be ghost workers.

“Some of the workers, who sat for the confirmation, were employed as far back as 2016 and 2019, while others were employed shortly before Wike assumed office in August 2023.”

The chairman added that the Commission had also concluded plans to conduct both the 2025 and 2026 promotions as approved by the Minister.

“This is in line with President Bola Tinubu’s commitment to renew the hope of the FCTA workforce,” he said.

Ezeh advised the workers to visit the Commission’s website, www.fctcsc.abj.gov.ng to check the status of their names. (NAN)


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The Senate Committee on Public Accounts has said it is dissatisfied with the explanations provided by the leadership of the Nigerian National Petroleum Company Limited (NNPCL) over alleged discrepancies amounting to ₦210 trillion in the company’s financial records.

Chairman of the committee, Aliyu Wadada, made this known during an interview on Sunday Politics on Channels Television. He noted that the responses given by the current management of NNPCL, led by Group Chief Executive Officer Bayo Ojulari, failed to adequately address the concerns raised by lawmakers.

According to Wadada, the committee found inconsistencies in the company’s audited financial statements, particularly a ₦103 trillion figure recorded as accrued expenses under liabilities, which lacked proper supporting documentation.

He explained that the entries in the company’s audited accounts should clearly show how such figures were derived, including detailed breakdowns of both assets and liabilities. However, he said the reported liabilities could not be accepted because they were not sufficiently substantiated.

The controversy emerged during the Senate’s review of NNPCL’s audited financial statements covering 2017 to 2023, where lawmakers flagged financial entries totalling ₦210 trillion that they believe were not properly explained.

Wadada described the figure as extremely large and difficult to comprehend, stressing that the committee expects clearer explanations from the company.

The committee has also summoned former top officials of the national oil company, including former Group Chief Executive Officer Mele Kyari, to appear before lawmakers and clarify the discrepancies.

When he previously appeared before the committee on July 29, 2025, Ojulari stated that he needed additional time to thoroughly review the issues raised in the financial statements, noting that he had been in office for less than 100 days at the time.

He promised to conduct an internal review and assemble a team to reconcile the figures and provide the explanations required by the committee.

According to Wadada, standard accounting practice requires that figures recorded as assets or liabilities must pass through profit and loss accounts before they can be properly recognised in financial reports.

The committee plans to hold a public hearing after the Eid holiday to allow former and current officials of the oil company to explain the disputed figures.

The lawmaker also stated that the committee would not hesitate to question any relevant government official if necessary, including the Minister of Petroleum Resources, Bola Tinubu.

However, he added that the committee does not believe the president is currently aware of the alleged discrepancies.

Responding to claims that the investigation could be politically motivated, Wadada insisted that the probe is aimed strictly at ensuring accountability and transparency, regardless of political affiliations.

During the review, lawmakers highlighted two major financial entries they said lacked proper explanation: ₦103 trillion recorded as accrued expenses linked to Joint Venture cash calls and ₦107 trillion listed as sundry receivables, reportedly owed to the company by banks and other entities but considered difficult to verify due to limited transparency.

Lawmakers also questioned about ₦5.9 billion reportedly spent on NNPCL’s rebranding, as well as issues relating to subsidy claims and production costs. The current management has been directed to submit reconciled financial records after earlier explanations were rejected.

Meanwhile, the federal government recently introduced Executive Order No. 9 of 2026, signed by President Tinubu, to reform aspects of the fiscal framework of the Petroleum Industry Act 2021. The order mandates that revenues from oil and gas operations under Production Sharing Contracts be paid directly into the Federation Account and suspends certain deductions previously retained by the national oil company.


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Founder of the Onono Onimisi Foundation, Onono Onimisi, has called on the federal government to suspend or significantly reform the National Youth Service Corps (NYSC) scheme due to rising insecurity across Nigeria.

In a statement released over the weekend in Abuja, the girls’ education advocate warned that the current security situation has made the programme increasingly unsafe for young graduates.

Onimisi urged the government to take decisive action to safeguard corps members, stressing that continuing the scheme without ensuring their protection is irresponsible.

She argued that the NYSC programme, in its current structure, has become outdated in a country grappling with widespread kidnappings, banditry, and terrorism.

According to her, the scheme should either be temporarily suspended or comprehensively restructured until Nigeria becomes secure enough for such a national programme to operate without exposing young people to danger.

She referenced the recent case of a corps member identified as Abba, who was reportedly kidnapped and tortured while travelling home after completing his national service.

Onimisi described the incident as a serious warning about the increasing risks faced by corps members across the country.

She added that if one corps member could fall victim today, it raises concerns about who might be next, noting that a nation unable to guarantee the safety of its youth should reconsider policies that place them in harm’s way.

The education advocate also pointed out that thousands of graduates are posted annually to unfamiliar states, often requiring them to travel on roads widely regarded as unsafe.

While acknowledging that the NYSC scheme was originally designed to promote national unity and integration, she said the current reality exposes young Nigerians to significant security threats.


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Teenage pregnancy remains a major public health concern in Nigeria, with northern states such as Kebbi State, Zamfara State, and Kaduna State recording the highest prevalence.

This was revealed in the 2025 State of Health of the Nation Report, released on Sunday in Abuja under the provisions of the National Health Act (Nigeria). The report assessed adolescent reproductive health trends across the country and highlighted growing regional disparities.

According to the findings, about 32 percent of girls aged 15–19 in Kebbi have experienced pregnancy, while Zamfara and Kaduna recorded about 30 percent each. In contrast, states like Lagos State and Edo State reported significantly lower rates of around three percent.

The data, sourced from the Nigeria Demographic and Health Survey 2024, underscores wide regional gaps and the need for targeted policies to improve adolescent reproductive health nationwide.

The report warns that teenage pregnancy raises the risk of maternal and child illness and death, while also contributing to social challenges such as school dropout among adolescent girls, particularly in high-risk states.

Education was identified as a major protective factor. Pregnancy rates were 34 percent among girls with no formal education, compared to only four percent among those with education beyond secondary school, demonstrating the strong link between education and reduced teenage pregnancy.

To address these issues, the 2025 health sector expanded adolescent-focused programmes aimed at improving reproductive health outcomes and advancing Universal Health Coverage. Efforts included strengthening primary healthcare services and expanding community outreach initiatives.

The report noted increased investment in adolescent-friendly services at primary healthcare centres, including family planning, HIV prevention, and treatment of sexually transmitted infections. Community health workers were also engaged to provide counselling and selected family planning services, particularly in remote communities.

Additionally, school- and community-based water, sanitation, and hygiene programmes were strengthened to support adolescent well-being and reduce preventable infections.

Encouragingly, improvements were recorded in menstrual hygiene management, with 95 percent of adolescent girls reporting they could wash and change privately at home, while 94 percent used appropriate menstrual materials.

However, the report raised concerns about mental health and substance abuse among adolescents, noting rising use of alcohol and drugs such as tramadol and cannabis, especially among secondary school students.

It estimated that young people aged 10–24 make up about 32 percent of Nigeria’s population, yet they carry a significant burden of mental health conditions, particularly depression and anxiety.

Government responses include integrating mental health services into HIV programmes and implementing policies such as the National Policy on the Health and Development of Adolescents, which promotes youth-friendly mental health services, early intervention, prevention, and stigma reduction.

Efforts were further reinforced during awareness campaigns such as World Mental Health Day and International Adolescent Health Week in 2025.

The report highlighted collaboration among the Federal Ministry of Health Nigeria, National Drug Law Enforcement Agency, World Health Organization, and United Nations Office on Drugs and Crime, alongside civil society groups, to tackle substance abuse and strengthen adolescent health services.

Some states, including Kaduna State, have also launched school- and community-based programmes aimed at improving mental health awareness, building resilience, and helping adolescents cope with stress, substance use, and other psychosocial challenges.

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